81 RIDGE VIEW Dr Atherton, CA 94027

Price: $3,495,000

Last sale: Jun 17, 2008 Sold $4,100,000
Loss if sold for asking:$605,000 or 14.8%

It’s been a while since I featured a multimillion dollar home here.  This one is a pretty normal property in Atherton.  It seems that it’s been sold from one trust to another in the past couple decades so I’m sure the sellers aren’t really in trouble, but it seems that they want to get rid of the home in  a hurry because they already cut the price twice.  Lately there has been more and more listings in Atherton and most of these multimillion sales take a pretty long time.   I suspect the inventory will build up further.

2 WILBURN Ave Atherton, CA 94027

Price: $1,495,000

Last sale:

This is listed as a fixer uppper in Atherton. It’s one of the smaller lots in Atherton and it’s right next to El Camino.

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!

486 WALSH Rd Atherton, CA 94027

Price: $4,125,000

Last sale: Oct 18, 2000 $4,300,000

Loss if sold for asking: $175,000 or  4.1%

This is a brand new listing in Atherton that is listing for 4% off its 2000 price.  It is open on 9/21 and 9/28 from 1:30 to 4:30pm.  I guess 4% isn’t that bad of a loss.

City of Atherton

Atherton currently has no active home sellers in trouble.  There are a couple properties that are selling only slightly above their last prices, but they’re not technically in trouble.

City of Belmont

On 8/31 seven properties are in trouble, and one of them is  pending. The newest additions are 2002 Forest Ave and 1134 North Ct (this property is pending). Another property of interest at 15 Kittie Ln, as expected, this property came back on the market after being taken off last month.

Raw data available: belmont831.csv

City of Brisbane

Brisbane had a bit of an increase in troubled properties and now the total is 7.  The newest troubled listing is a condo at 211 Swallotail Ct, and the property with the largest loss is 45 Lupine Valley Ct with a listing price of $400000 below its last sale price.

Raw data available:  brisbane831.csv

City of Burlingame

This month the number of troubled properties rose from 3 to 7 in Burlingame.  Several homes over the $1 million mark dropped their prices.  The newest price reduction happened to 340 Occidental Ave, and now it is below its 2006 sales price. Additionally, an old favorite at 123 Fey Dr was relisted for $1895000.

Raw data available: burlingame831.csv

City of Colma

Two troubled properties left on B Street! They are 531 B St and 528 B St.

Additionally, 321 Hoffman St was listed in August for more than $130k below its last sale price.

City of Daly City

The number of troubled properties in Daly City is now 187, and that’s a decrease of 1 from last month.  Sales data shows that a lot of troubled properties were bought in July and quite a few went for over the asking price.  The biggest loser in August  by dollar amount is 310 A St.

Anyway, here’s the full data: dalycity831.csv

East Palo Alto

East Palo Alto didn’t receive very many new listings, and additionally a lot of listings went off market.  The total number of troubled homes is now 93, and that’s down from 103 since last month.   The biggest loser by far is 1175 Cypress St, which is down $401k since its last sale.

Raw data available: epa831.csv

More to come!

City of Atherton

Atherton is still holding onto 199 Selby Ln. I wonder if the deal actually closed since it still says pending with release.

City of Belmont

On 7/31 only four listings are in trouble, and two of them are already pending. The newest addition is 300 Davey Glen Rd #3622. Another property of interest at 15 Kittie Ln has been withdrawn and now shows a new sale price on June 25th of $772124. That means it probably foreclosed officially and will come back on the market at a lower price.

Raw data available: belmont731.csv

City of Brisbane

This month, there are four condos listing for lower than their last selling price. They are: 632 Callippe Ct, 411 Callippe Ct, 233 Swallowtail Ct, & 115 Elfin Ct #U611

A newly reduced property is at 237 Kings Rd, and it’s now $2000 below its 2006 sale price. This brings the total troubled listings in Brisbane to 5.

City of Burlingame

Once again, we have three properties in Burlingame. The price has been reduced on 840 Newhall Rd in July so now it is at the same price as 2006. 912 Toyon Dr is now pending with release. 1657 Westmoor Rd is still active on the market after 80 days.

City of Colma

Two troubled properties left on B Street! They are 531 B St and 528 B St.

City of Daly City

Almost 50 new troubled listings from Daly City were posted in July. About 30 went off the market so we have a total of 188 listings still on the market. This is a net gain of 26 from last month. Some standouts include 92 Norwood, which is down $298k from its 2007 price, and 61 Chester St, which is somewhat worth buying considered that it’s priced at $149k. I guess when you price it low enough people will buy because 61 Chester St is already pending. It is down from its 2006 price of $360k. Another thing I noticed is that a lot of condos in Crown Colony are selling because they’re being priced under $200k. Considering that renting an one bedroom in Daly City costs anywhere around $1000 to $1400, these condos that are only $160k could actually be cheaper than renting.

Anyway, here’s the full data: dalycity731.csv

More to come!

City of Atherton

Atherton is still holding onto 199 Selby Ln. I am curious to see what the final sales price is on this one.

City of Belmont

On 6/30 I found seven listings in Belmont that are technically in trouble. The newest one of these is 817 Covington.

Raw data available: belmont630.csv

City of Brisbane

Once again there are only three condos that are selling for under their last prices.

They are: 632 Callippe Ct, 233 Swallowtail Ct, & 115 Elfin Ct #U611

City of Burlingame

Burlingame has three troubled properties. They are: 27 Channing Rd, 912 Toyon Dr, and 1657 Westmoor Rd.

City of Colma

Three troubled properties left on B Street! 531 B St, 405 B St, and 528 B St.

City of Daly City

Apparently, I accidentally left out some homes in the last update for Daly City. Also, this month there were almost 40 new troubled listings and a few dozen price reductions. So now the total number of troubled properties in Daly City has grown to 162. Yup, it’s a lot of properties. Only a few properties sold since the last update and I wrote them on the datasheet.

Raw data available: dalycity630.csv

City of East Palo Alto

East Palo Alto is in a similar situation as Daly City. Very few homes are moving and more inventory is piling up. In this update there are 101 listings in trouble. The biggest loser is currently 2362 Poplar Ave, which is listing for $400k below its last sale price.

Raw data available: epa630.csv

City of Foster City 

All eight of Foster City’s troubled properties are condos.  The newest additions are 1041 Shell Blvd #3 and 1061 Beach Park Blvd #110.   The condo on 1061 Beach Park Blvd just had a price reduction today that pushed it into trouble territory.  Additionally, Foster City seems to have many properties that are listing 1 to 2% above their last sale price.

Raw data available:  fostercity630.csv

Part 2 will be coming soon. In my May update I didn’t include some of the unincorporated areas like La Honda and coastside cities such as Moss Beach. I will add them this time.

535 EL ARROYO Rd Hillsborough, CA 94010

Listing history:

Yup, this one is down $1.8 million since last year. It is by all means an extremely luxurious look castle. I am sure someone with enough dough will snap it up soon, well, maybe in a year.

150 ALMENDRAL Ave Atherton, CA 94027

Listing history:

Well, this one admits that they are too ashamed to show the house so they said “VALUE IS IN THE LAND”. It is reduced exactly $1 million since last year.

262 W SANTA INEZ Ave Hillsborough, CA 94010

This one has been on the market for more than 2 years. It’s an extremely ostentatious replica of an 18th century French chateau. It is pretty impressive, but it’s been reduced $2.5 million from its May 2007 price.

435 PULLMAN Rd Hillsborough, CA 94010

Listing history:

This is yet another mansion in Hillsborough.  This one is down $2.1 million since last year.  That’s a pricecut of more than 10%.

Well, I’m sure these people aren’t actually in trouble since they bought these homes a long time ago, but at least it’s comforting to know that they are realistic and following the market in listing their crazy mansions.

Sold listings:

1181 Elmer ST Belmont, CA 94002 – Sold for $610000 on April 10th, 2008. This is $15000 below the last asking price. That brings the total loss on the property to $107000 or 14.9%. It took about 6 months to sell.

115 JASMINE WAY East Palo Alto, CA 94303 – Sold for $360000 on April 3rd, 2008. This is $74000 below the last listing price of $434000. This brings the total loss to $135000, or 27.3%. This also took 6 months to sell.

554 STANFORD AVE Redwood City, CA 94063 – Sold for $329,375 on Mar 21st, 2008. This is $85625 below the last listing price of $415000. This brings the total loss to $209625 or 38.9%. I think this is a omen that a lot of the listings in the 94063 zip code could still fall quite a bit.

4008 FARM HILL BLVD #00102 Redwood City, CA 94061 – Sold for $417,000 on 4/4/2008. This is $32000 below its last listing price and brings the total loss to $83000 or 16.9%.

12 N NORFOLK ST San Mateo, CA 94401 – Sold for $515,000 on 3/14/2008. This is $35000 below its last listing price and the total loss is now $210000 so the final loss is 31.1%.
333 3RD AVE Daly City, CA 94014 – Sold for $607,050 in March after only 4 months on the market.  This is $112950 below the last listing so the final loss is $227950 or 27.3%

Price Reductions:

7209 ADMIRALTY LN Foster City, CA 94404 – Down another $500.

199 SELBY LN Atherton, CA 94027 - Relisted and reduced another $30000

192 MELISSA CIR Daly City, CA 94014 – Reduced another $80000

864 RAND ST San Mateo, CA 94401 – Reduced another $65000 just yesterday!

735 SKYLINE DR Daly City, CA 94015 – Reduced another $150000 last week! This is the biggest reduction I saw so far.

948 DAISY ST San Mateo, CA 94401 – Down another $6000.

The rest of the listings listed in October and November are still either on the market with the same price or pulled out all together without new information.  As you can see, ALL of the sold listings sold for below asking.  This is a good hint to offer for lower than listing on these properties still on the market.

It appears that this Atherton foreclosure just got a new MLS listing today and the old listing information has been wiped.  It is  another $30,000 cheaper, and there are open house dates for 4/26 and 4/27.  This is probably the cheapest property in Atherton, and it’s really just a few blocks from where I live. Unfortunately I will be out of town next weekend so I won’t be walking over to check it out.  I can’t afford it anyway.