120 HAMILTON Ln Burlingame, CA 94010
120 HAMILTON Ln Burlingame, CA 94010
Price: $1,298,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,617 |
| $/Sq. Ft.: | $803 |
| Lot Size: | 5,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Ranch |
| Year Built: | 1950 |
| Stories: | 1 |
| View: | Neighborhood |
| Neighborhood: | Burlingame Village |
| County: | San Mateo |
Last sale:
| Jun 09, 2005 | Sold | $1,300,000 |
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.
1561 WESTMOOR Rd Burlingame, CA 94010
1561 WESTMOOR Rd Burlingame, CA 94010
Price: $775,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 1,100 |
| $/Sq. Ft.: | $705 |
| Lot Size: | 5,250 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Contemporary |
| Year Built: | 1942 |
| Stories: | 1 |
| View: | Neighborhood |
| Neighborhood: | Burlingame Village |
| County: | San Mateo |
Last sale: Aug 28, 2006 Sold $850,000
Loss if sold for asking: $75000 or 8.8%
This small pre-World War 2 home is pretty much backed up onto El Camino Real so it might be a little bit noisy and it is still $705 per square foot . There is an open house this weekend on 1/25/09 from 1 to 4.
3115 Canyon Rd Burlingame, CA 94010
3115 Canyon Rd Burlingame, CA 94010
Price: $1,599,000
| Beds: | 4 |
| Baths: | 3 |
| Sq. Ft.: | 3,340 |
| $/Sq. Ft.: | $479 |
| Lot Size: | - |
| Property Type: | Detached, Single-Family Home |
| Style: | Traditional, Custom |
| Year Built: | 1977 |
| View: | Woods |
| Region: | San Mateo County/ |
| Area: | Burlingame |
| County: | San Mateo |
Last sale:
| Nov 30, 2005 | Sold | $1,780,000 |
Loss if sold for asking: $281000 or $15.8%
The listing for this home doesn’t show that it’s bank owned, but if you look up the county tax records it shows the address of the owner as 7255 BAYMEADOWS WAY, JACKSONVILLE, FL. It also had a tax default last year. If you search for that address, it shows that it’s Washington Mutual, which is now JP Morgan Chase. Whoo hoo I guess? It’s probably possible to negotiate this back to pre-2004 prices since WaMu’s REO portfolio is humongous.
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!
Burlingame Mansions That Will Barely Break Even
Burlingame doesn’t have that many troubled properties, but I have been seeing quite a few mansions that would fetch less than their last sale prices if you account for a 6% sale cost. Here is a list of these high end properties:
1816 MONTECITO Way Burlingame, CA 94010
Current Price: $1,888,000
If sold with a cost of 6%: $1,774,720
Last sale price: Jul 11, 2007 $1,775,000
1101 CORTEZ Ave Burlingame, CA 94010
Current Price: $1,399,000
If sold with cost of 6%: $1,315,060
Last sale price: Oct 31, 2006 $1,350,000
128 CHANNING Rd Burlingame, CA 94010
Current Price: $1,595,000
If sold with cost of 6%: $1,499,300
Last sale price: Jun 17, 2005 $1,499,000
1017 BALBOA Ave Burlingame, CA 94010
Current price: $2,595,000
If sold with cost of 6%: $2,439,300
Last sale price: May 25, 2007 $2,440,000
2940 TROUSDALE Dr Burlingame, CA 94010
Current price: $1,388,000
If sold with cost of 6%: $1,304,720
Last sale price: Mar 16, 2005 $1,320,000
August 2008 Troubled Sellers Update Part I – Atherton to East Palo Alto
The later part of August was quite busy for me again so I didn’t update this blog as much as I would have liked to, but I still managed to gather the data for August’s home sellers in trouble. The general vibe I am getting is that a lot of these troubled homes are being sold recently so the number of active troubled properties seem to be holding still. Anyway, here is the data for Atherton through East Palo Alto
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!
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