139 14TH Ave San Mateo, CA 94402

Price: $678,000

Last sale:

Just when I thought the last little cottage was expensive, I stumbled upon this little charmer.  It is in a decent neighborhood of San Mateo, but the owner is asking for over $1000 per square foot for this little hundred year old cottage.  There is an open house this Sunday, and I really wonder if there are gold toilets or flooring in this house to warrant this price?

1532 CAROL Ave Burlingame, CA 94010

Price: $1,339,000

Last sale:

Loss if sold for asking: $12,000 or 0.9%

The interesting thing about Burlingame is that the listing price per square foot is much higher than the sold price per square foot.  Here is the graph:

So it seems that Burlingame sellers are all still holding their prices high, but the ones that sell are much much cheaper.  If this particular home were at the Burlingame average of $620 per square foot, then it would be  at only $1.07 million.  Perhaps that would be a better starting price?

1233 BELLEVUE Ave #1 Burlingame, CA 94010

Price: $818,000

Last sale:

Loss if sold for asking: $51,000 or 5.9%

This actually looks like a well maintained townhome in a good part of Burlingame.  However, buying this home at the current price would work out to be quite a bit more than just renting in the same area.   Looks like there are no defaults or late payments on this home so it may take a while for the price to be lowered because I don’t think the owners are that desperate.  There are open homes scheduled for three Sundays starting this Sunday.  You can see it on 2/22, 3/1, and 3/8 from 2 to 4 pm.

2106 CORONET Blvd Belmont, CA 94002

Price: $774,500

Last sale:

Loss if sold for asking: $25,500 or 3.2%

This is a decent sized Belmont home with a pool. The sellers took out two loans that covered 100% of 800,000 from the now dead Greenpoint Mortgage.  This means the mortgage alone would have been $4000 to $5000 a month on this puppy.  This would be double the price of renting a home like this.  Anyway,  there is an open house this weekend from 1:00pm to 4:00pm.

1344 BERNAL Ave Burlingame, CA 94010

Price: $1,385,000

Last sale: Aug 17, 2006 Sold $1,425,000
Loss if sold for asking: $40000 or 2.8%

I’m not quite sure what the realtor means when he says “Absolutely Done!!!”  He seems very fond of exclamation marks and I hope he does not talk like that in real life.  Anyway, this property has showings for the next 3 Sundays from 2:00pm to 4:00pm.  I would wait for the owners to reduce the price on this puppy since it is about $130 or about 20%  more per square foot than the median in Burlingame, and Redfin stated that Burlingame is one of the cities   with the most price reductions.     Chances are the owners of this lovely property will realize that they priced their home too high.

1023 HELM Ln Foster City, CA 94404

Price: $715,000

Last sale:

Loss if sold for asking: $34,000

This one’s financing history is pretty interesting.  It was purchased in 2005 with a $509k ARM from Wells Fargo and a $60k fixed loan from Genentech.  I had no idea that Genentech gave out home loans.  It may be an employee benefit or something?  Anyway, this couple is probably just being realistic about the sale price because they first listed this more than 7 months ago.  This is  a water front home, but the water in question is a man made lake kind of thing.  Anyway, there are showings for this home on  2/1 from 1pm to 4pm.

1561 WESTMOOR Rd Burlingame, CA 94010

Price: $775,000

Last sale:

Loss if sold for asking: $75,000 or 8.8%

Sep 05, 2008 Listed

Here is another Burlingame rancher that’s being listed for way too much.  Seems like it took just about 2.5 months to sell in 2006.  I wonder how long it is going to take this time.  Open house is today 1/25 from 1pm to 4pm.

Price: $1,298,000

Last sale:

Loss if sold for asking: $2000 or 0.2%

In any other place, this is just a post war rancher that will probably sell for $200k or less, but here in Burlingame it’s $1.298 million.  There doesn’t seem to be much to justify this price.  The current owner took out a $960k adjustable loan in 2005, and perhaps it’s adjusting soon.  Anyway, this home is overpriced even for Burlingame.  A comparable property that’s larger than this home is at 1641 Albemarle Way and is around $300k less.  Both properties have open homes this weekend on 1/25 from 1pm to 4pm.

Price: $838,000

Last sale: Jul 28, 2006 Sold $900,000
Loss if sold for asking: $62,000 or 6.9%

This is a decent home in a nice area of San Carlos.  The pictures look like it was staged and there will be an open house this weekend on January 25th from 1pm to 4pm.   Even though it is a nice neighborhood it is still a bit too expensive at $698 per square foot so I expect this one to drop a bit more.

50 ALHAMBRA Ct Portola Valley, CA 94028

Price: $1,685,000

Last sale: Apr 29, 2005 Sold $1,855,000
Loss if sold for asking: $170,000 or 9.2%

This Portola Valley home is on a huge tree covered lot and just recently cut its listing price by more than $350,000 from $2.049 million to $1.685 million. This may be worth a look for the uber rich though the house is quite small for the area. This is the first Portola Valley listing we have featured here.