Dataquick March report – San Mateo sales volume at 380
Here is this month’s Dataquick report. San Mateo County’s sales volume is now at an all time low of 380 units. Median price is now at $506k. Now that the foreclosure moratoriums are over we should see more foreclosures coming on the market. Prices will not recover until demand recovers, and now many people are buying in Santa Clara County instead.
Also, Oracle is going to swallow up Sun Microsystems, and that probably means a few thousand well paying job cuts in the area following the acquisition.
4238 GEORGE Ave #00001 San Mateo, CA 94403 – One year later
4238 GEORGE Ave #00001 San Mateo, CA 94403
Price: $365,000
| Beds: | 2 |
| Baths: | 2 |
| Sq. Ft.: | 1,040 |
| $/Sq. Ft.: | $351 |
| Lot Size: | - |
| Property Type: | Condominium |
I first put this one up over a year ago. Looks like the price has been cut another $75,000 since then. This is still a short sale which means that the troubled sellers are still holding onto the property. Hopefully it will sell soon?
Foreclosure moratorium quietly lifted
Finally, the foreclosure moratoriums established last year have been lifted. This means that more hidden inventory will come on the markets! Additionally, it is spring and more and more sellers will hope that warmer weather will bring people out. However, they will have to compete with a glut of foreclosures. Good luck everyone.
205 Peoria St Daly City, CA 94014
205 Peoria St Daly City, CA 94014
Price: $280,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 750 |
| $/Sq. Ft.: | $373 |
| Lot Size: | - |
| Property Type: | Single-Family Home |
| Style: | Bungalow |
| Year Built: | 1917 |
Last sales:
Nov 18, 2008 Sold $410,000 -12.4%/yr Public Records
Oct 27, 2005 Sold $615,000 33.4%/yr Public Records
Jul 30, 2004 Sold $430,000 16.1%/yr Public Records
Dec 03, 2001 Sold $289,000 6.5%/yr Public Records
Here is another home that’s cheaper than 2001 and more than 50% off its peak. It looks like quite a fixer, and it is still priced above the median price per square foot of Daly City. This is probably not a surprise but it was also financed 100% by loans in 2005.
665 FOOTHILL Dr Pacifica, CA 94044
665 FOOTHILL Dr Pacifica, CA 94044
Price: $468,000
| Beds: | 3 |
| Baths: | 1.5 |
| Sq. Ft.: | 1,240 |
| $/Sq. Ft.: | $377 |
| Lot Size: | 4,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1964 |
Last sales:
| Oct 13, 2005 | Sold | $715,000 | 11.0%/yr | Public Records |
Loss if sold for asking: $247,000 or 34.5%
This home is now $23,000 above its 2001 price. It was funded by a $143,000 fixed mortgage and a $572,000 adjustable mortgage in its 2005 sale. Yup, that’s another 100% financed home and now it is a short sale. There is an open house on 4/5/2009 from 1 to 4pm.
1843 RANDALL Rd San Mateo, CA 94402
1843 RANDALL Rd San Mateo, CA 94402
Price: $965,000
| Beds: | 4 |
| Baths: | 2 |
| Sq. Ft.: | 1,880 |
| $/Sq. Ft.: | $513 |
| Lot Size: | 9,500 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1953 |
| Stories: | 1 |
| Neighborhood: | Baywood Park |
| County: | San Mateo |
Last sale: Nov 10, 2005 Sold $1,200,000
Loss if sold for asking: $235,000 or 19.6%
This former 1.2 million dollar property was first listed 4/2/2008. Then it went off market twice and just got relisted again. This was financed in 2005 by Countrywide with 2 adjustable loans. One was $900,000 and the second was $180,000. This means that the buyers actually put down 10% or $120,000. That’s pretty amazing. Sadly it is now a shortsale. It is a bit close to the 92, but otherwise seems well maintained.
Offers
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