63 Appian Way #C $450000 Foreclosure-Need Immediate Offer (south san francisco)
63 Appian Way #C South San Francisco, CA , 94080
| Beds: | 2 |
| Baths: | 2.5 |
| Sq. Ft.: | 1,675 |
| $/Sq. Ft.: | $309 |
| Lot Size: | - |
| Property Type: | Attached, Townhouse, Condominium |
| Property Style: | Contemporary |
This property is currently on MLS listed at $518k, but I saw this Craiglist listing that states the following:
$450000 Foreclosure-Need Immediate Offer
Reply to: ildiko@princeton-realestate.com
Date: 2008-08-04, 10:39AM PDTForget looking for a bargain elsewhere! This pristine 2 bedroom/2.5 bath townhome in SSF with panoramic views, ideally located within minutes of downtown San Francisco & Silicon Valley. This unit has everything you need for luxury living in the Bay Area including 2 car parking, laundry in unit and much more. This is a short sale.
Contact me today to schedule a time to see this great value! 415-412-8721
This property was bought in the last bubble of the late 80s and has a pretty high HOA fee. Most likely this short sale won’t go through, but maybe someone will help this guy out?
71 BAYPARK Cir South San Francisco, CA 94080
71 BAYPARK Cir South San Francisco, CA 94080
Price: $949,888
| Beds: | 4 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,410 |
| $/Sq. Ft.: | $394 |
| Lot Size: | 7,474 Sq. Ft. |
| Age (Years): | 11 |
| Year Built: | 1997 |
| Type: | Detached Single Family |
Last sale: Nov 17, 2004 $985,000
Loss if sold for asking: $35112 or 3.6%
This home still has an assessment above $1 million but it is under its sale price in 2004. Inflation adjusted it is under the 2003 price. It is fairly large and is only 11 years old. You would think that they would post a few pictures of the property at this price point, but nope, all we have is the street view photo.
July 2008 Troubled Sellers Update Part 3 - Pacifica to Woodside
Here is the final part of the July 2008 update featuring the following cities.
City of Pacifica
Pacifica is seeing quite a bit of price reductions. A good example is 340 Monterey, which has dropped its price by $50k every month for the last three month. That’s a deduction of $1.6k a day. For detailed information on all 42 properties you can look at the raw data: pacifica731.csv
City of Redwood City
The biggest loser in July for Redwood City goes to 559 Scott Ave. This home in the Dumbarton neighborhood is listing for $265k below its January 2007 sale price of $750k. Check out the full list of 65 troubled properties here: rwc731.csv
City of San Bruno
62 properties are available in San Bruno. I noticed that quite a few of the condos in the Shelter Creek address are selling because they’ve been priced fairly low. Most of the listings older than 2 months have been reduced. Take a look at the spreadsheet for details.
Raw data: sanbruno731.csv
City of San Carlos
The number of troubled sellers went down to 4 in San Carlos. The cheapest one is a condominium at 3354 Brittan Ave #9.
Raw data: sancarlos731.csv
City of San Mateo
San Mateo experienced more than two dozen price reductions and now the total number of troubled sellers grew to 85. There are troubled homes in all neighborhoods and the inventory is still growing. Take a look at the raw data for all homes.
Raw data: sanmateo731.csv
City of South San Francisco
Quite a few troubled properties actually sold in July for South City. Some notable properties include 404 Fairway Dr and 38 Northcrest Dr. Both of these properties sold for about $50k below asking. More details are available in the spreadsheet. There are a total of 103 troubled homes in this update.
Raw data: ssf731.csv
City of Woodside
855 Canada finally sold in July, but 5 Stadler Dr has cut its price by $77k in July and now it’s $27k below its 2005 sale price of $1.825 million.
Final Summary:
Atherton: 1
Belmont: 4
Brisbane: 5
Burlingame: 3
Colma: 2
Daly City: 188
East Palo Alto: 105
Foster City: 8
Coastside: 20
Hillsborough: 4
Menlo Park: 14
Millbrae:5
Pacifica: 42
Redwood City: 65
San Bruno: 62
San Carlos: 4
San Mateo: 86
South San Francisco: 103
Woodside: 1
Total: 722 properties in trouble
As you can see, the number of troubled properties did not increase dramatically. Some homes and condos are actually priced close to rent equivalent so people are snatching those up quickly. I think a lot of inventory is still being withheld by the banks that own foreclosures because not a lot of these are actually foreclosures. Anyway, this also correlates with the San Mateo Realtor Association’s data that sales went up and inventory is reduced. Overall, this is a good thing for the real estate market. However, we will have to see if this trend lasts.
June 2008 Update Part 3 - San Bruno to Woodside
Here is the final part of the June 2008 update featuring the following cities.
City of San Bruno
San Bruno didn’t see a dramatic change in the number of troubled sellers, but there are over a dozen price reductions. Notably, 3771 Elston Dr has been reduced $110k in June so now it is the biggest loser by dollar amount. Check the raw data for all 63 properties.
Raw data: sanbruno630.csv
City of San Carlos
Sales are still quite brisk in San Carlos. The number of troubled sellers went down to 5. One of these homes at 948 Cherry was reduced into troubled territory, but it is still quite expensive.
Raw data: sancarlos630.csv
City of San Mateo
San Mateo experienced more than two dozen price reductions and now the total number of troubled sellers grew to 85. There are troubled homes in all neighborhoods and the inventory is still growing. Take a look at the raw data for all homes.
Raw data: sanmateo630.csv
City of South San Francisco
The number of troubled sellers in South San Francisco grew to 101. 65 of these have pricecuts of more than $100k.
Raw data: ssf630.csv
City of Woodside
The one short sale at 855 Canada is still pending.
Final Summary:
Atherton: 1
Belmont: 7
Brisbane: 3
Burlingame: 3
Colma: 3
Daly City: 162
East Palo Alto: 101
Foster City: 8
Coastside: 23
Hillsborough: 1
Menlo Park: 19
Millbrae: 6
Pacifica: 42
Redwood City: 66
San Bruno: 65
San Carlos: 5
San Mateo: 85
South San Francisco: 101
Woodside: 1
Total: 702 properties in trouble
At this rate, we will have 1000 troubled properties in 2 months. It seems that the sales rate of these properties is even lower than the non-troubled properties so being patient could snag you a good deal. The next half of the year should be interesting to watch.
1284 Mission Rd South San Francisco, CA 94080
1284 Mission Rd South San Francisco, CA 94080
Price: $499,900
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 830 |
| $/Sq. Ft.: | $602 |
| Lot Size: | - |
| Property Type: | Single-Family Home |
| Year Built: | 1952 |
| Region: | San Mateo County/North |
Last sale: Nov 02, 2006 $700,000
Loss if sold for asking: $200,100 or 28.6%
This lovely little bank owned property is directly across the street from the BART station! Talk about convenient, and loud.
257 FOREST VIEW Dr South San Francisco, CA 94080
257 FOREST VIEW Dr South San Francisco, CA 94080
Price: $515,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 875 |
| $/Sq. Ft.: | $589 |
| Lot Size: | 4,732 Sq. Ft. |
| Age (Years): | 54 |
| Type: | Detached Single Family |
Listing history:
| Date | Price |
| Jul 18, 2007 | $659,000 |
| Nov 02, 2007 | $550,000 |
| Dec 20, 2007 | $500,000 |
| Jan 23, 2008 | $545,000 |
| Jun 11, 2008 | $515,000 |
Last sale: Oct 31, 2006 $715,000
Loss if sold for asking: $200000 or 28.0%
Today this home has been officially listed for 11 months. Its price per square foot is still about 20% above its neighbors so I don’t expect it to sell any time soon.
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