July 2008 Troubled Sellers Update Part I - Atherton to Daly City
Well, I have been pretty busy in July so I didn’t post a lot, but this month I will update quite a bit and concentrate on the homes above the $1 million range. One major thing that happened in July was that the damned housing bailout bill passed. Anyway, here is the summary data from July. I’m still compiling some of it so please be patient!
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 Another property of interest at 15 Kittie Ln has been withdrawn and now shows a new sale price on June 25th of $772124.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!
June 2008 Update Part 1 - Atherton to Foster City
Well, 2008 is going pretty fast. Today is the last day of June, so I started to compile the listing of troubled sellers again. Today I shall present Part 1.
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.
439 B ST Colma, CA 94014
439 B ST Colma, CA 94014
Price: $857,500
| Beds: | 4 |
| Baths: | 4 |
| Sq. Ft.: | 2,593 |
| $/Sq. Ft.: | $331 |
| Lot Size: | 3,333 Sq. Ft. |
| Age (Years): | 3 |
| Year Built: | 2005 |
| Type: | Detached Single Family |
| Style: | Contemporary |
Last sale: Nov 23, 2005 $988,000
Listing date: 3/19/2008
New price on 4/8/2008: $857,500
Loss if sold for asking: $130,500 or 13.2%
Comments: Fairly new construction in Colma. I don’t know much about the town except for that they have a BART station and it is close to San Francisco. This is a REO so you need to negotiate with a bank.
531 B ST COLMA, CA 94014
531 B ST COLMA, CA 94014
Price: $720,000
| Beds: | 3 |
| Baths: | 3.5 |
| Sq. Ft.: | 1,800 |
| $/Sq. Ft.: | $400 |
| Lot Size: | 3,500 Sq. Ft. |
| Property Type: | Single Family Detached |
| Property Style: | Contemporary |
| Year Built: | 1950 |
Last sale: Dec 21, 2004 $760,000
Listing date: 3/23/2008
Loss if sold for asking: $40,000 or 5.3%
Comments: Not much info on this one. There is another one in trouble a block down.
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