Comment highlight on 2827 San Juan Blvd, Belmont
KT left this lovely comment on the story about 2827 San Juan Blvd that I thought should be highlighted for those of you who read this through a feed and don’t check old comments:
Oh come on.. you left out the best parts of this little dandy.
1) How about the food left in the back room- is it still decaying on the dresser?
2) Has anyone ever flushed the toilet, or is hte floater still around?
3) How about all the fun you can have rolling down your own private hill- a.k.a, the second level living room floor;
4) The bulging outdoor walls where you can estimate for yourself how much longer before the house gives way.
5) Ever take a peak inside the ‘attics’ of the little rentals? Please do- then you’ll know where all those used oil containers go.
6) It wasn’t a woman who owned the house- it was a man. You can see all of his bank and tax records in the bedroom where he died.
7. The woman, I believe, was his sister- she was collecting the rents and putting them in her pocket. This lasted until the bank protested and kicked everyone out. I could go on and on, but I think you get the gist why this home is still on the market.
Thank you KT for these insights. I also heard that there was an official looking notice taped to the door that said all the structures are worth less than $100. Is that still there? Keep the tips coming because they’re pretty entertaining.
Get ready for new sewage fees Peninsula homeowners!
According to today’s news Belmont will be the first city in the peninsula to impose a fee for its share in a $400 million sewage treatment upgrade project. This amounts to an average of $250 per homeowner added to the yearly property tax bill, and that doesn’t seem to be that bad, but businesses will be charged based on the type and size of the business property.
More southern peninsula cities such as Redwood City and San Carlos may follow soon, but I think this project is sorely needed. I’ve worked in Redwood Shores and Foster City for almost four years and the toilets have plugged up at our office building multiple times after heavy rains.
The fee is probably not big enough to send homeowners into financial trouble, but small businesses such as laundromats could see a pretty painful tax.
2827 SAN JUAN Blvd Belmont, CA 94002 – New $100k Reduction
I wrote a little blurb about this home a few months ago after my friend went to see it. It still hasn’t sold and now the price is down from $630 to $479k. It is a pretty big lot for Belmont, but if you look at the Google Maps overhead satellite photo you can see the roofs of the weird unsanctioned studio apartments I was talking about previously:
The plot of land may be worth the price, but there will be headaches with it.
Got a million to spare? 2614 READ Ave Belmont, CA 94002
2614 READ Ave Belmont, CA 94002
Price: $1,000,000
| Beds: | 4 |
| Baths: | 4 |
| Sq. Ft.: | 1,730 |
| $/Sq. Ft.: | $578 |
| Lot Size: | 7,700 Sq. Ft. |
| Property Type: | Attached Single Family |
| Style: | Contemporary |
| Year Built: | 1956 |
| Stories: | 2 |
Last sale: Jul 24, 2006 Sold $1,233,000
Loss: $233,000 or 18.9%
This home is open for the next 3 Sundays from 1 to 4 pm. This is a short sale on a good sized lot, but the price per square foot is still above average. Before the last sale this one was sold for $241,000 in 1999, which means that the last last owner made nearly a million dollars. No wonder so many people became obsessed with house flipping. As I say about pretty much all short sales, potential buyers should just wait until it goes into foreclosure and get it for even less money.
418 YORKSHIRE Way Belmont, CA 94002
418 YORKSHIRE Way Belmont, CA 94002
Price: $577,900
| Beds: | 3 |
| Baths: | 1 |
| Sq. Ft.: | 1,010 |
| $/Sq. Ft.: | $572 |
| Lot Size: | 5,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1953 |
| Stories: | 1 |
| Neighborhood: | Homeview/ |
| County: | San Mateo |
| MLS#: | 80849100 |
| Source: | MLSListings |
| Status: | Active |
| On Redfin: | 1 day |
Last sale:
| Jan 10, 2007 | Sold | $780,000 |
This listing first came up in May for $650k, and then it probably got foreclosed on, and now it’s back on the market as a REO for around 70k less than the May price. That’s a decent discount of $10k per month, but it’s still $572 per square foot.
September 2008 Troubled Sellers Update Part I – Atherton to East Palo Alto
These couple months have been quite crazy for me personally and for the financial markets as a whole. I started this series on troubled home sellers about a year ago, and I am surprised that I am still keeping track of these somewhat depressing statistics. Anyway, here are the numbers for September.
City of Atherton
Atherton currently has this home at 486 Walsh Rd listed for $175k below its 2000 sale price. Its 2006 sale price is much lower, though.
City of Belmont
Now there are 8 properties in trouble in Belmont and that isn’t too big of a difference since last month. One new property is at 1222 North Rd, and another property at 2824 Monte Cresta Dr. just reduced its listing price for $100k, making it below its last sale price.
Raw data available: belmont930.csv
City of Brisbane
Brisbane’s number is down to 5. There is nothing really new in this city. Very few new listings were put up.
Raw data available: brisbane930.csv
City of Burlingame
Burlingame is holding on to 5 troubled properties. All of them are above the $1 million mark.
Raw data available: burlingame930.csv
City of Colma
531 B St was finally sold in September after being on the market for nearly a year. 528 B St is still on the market and suffered a $30k pricecut in September.
321 Hoffman St is now pending with release after being relisted in September.
City of Daly City
The number of troubled properties in Daly City is now 166, and that’s a decrease of 21 from last month. It seems that a lot of properties sold in August, and that corroborates the news today that home sales numbers went up. The biggest loser of September is 185 Belcrest Ave, which is down more than $270k. Another home of note is 467 Winchester, which is down more than $320k. This reappeared on the market after it went off so it is a relist to freshen up the listing.
Anyway, here’s the full data: dalycity930.csv
East Palo Alto
Following the trend in Daly City, the number of troubled sellers also went down in East Palo Alto. Now there are only 81 troubled sellers. One listing of note is 1511 Kavanaugh Dr. Supposedly this sold for only $1000 on 8/12/2008. I’m not sure if that is a mistake or if it really sold for $1000. Another listing I noticed is 2390 Dumbarton, which suffered a $300k pricecut on 9/11/2008. That’s a truly amazing pricecut on a house first listed for $496k.
Raw data available: epa930.csv
More to come!
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