1 APPIAN Way Unit 714-5 South San Francisco, CA 94080 – Why you should stay away even though it is cheap.
1 APPIAN Way Unit 714-5 South San Francisco, CA 94080
Price: $140,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 720 |
| $/Sq. Ft.: | $194 |
| Lot Size: | - |
| Property Type: | Condominium |
| Year Built: | 1979 |
| Stories: | 1-3 (Low Rise) |
This is another troubled property in the ill fated Colina Condominiums. I’m wondering if the major structural damages have been repaired or not, but undoubtedly the hefty assessment fees they wanted pushed quite a few people into foreclosure. The lesson here is to stay away from these condos if you want to live.
27 AMARYLLIS Ct South San Francisco, CA 94080
27 AMARYLLIS Ct South San Francisco, CA 94080
Price: $849,000
| Beds: | 4 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,390 |
| $/Sq. Ft.: | $355 |
| Lot Size: | 4,374 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Contemporary |
| Year Built: | 2000 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | South San Francisco |
Last sale:
| Jun 28, 2006 | Sold | $1,260,000 |
Loss if sold for asking: $411,000 or 32.6%
This is a large home that’s a short sale. It seems that the previous owners really lucked out because they bought it for $723,000 with a conventional 80% loan and then sold for 1.26 million to the latest owners. I guess there are winners and losers in everything.
566 MAGNOLIA Ave South San Francisco, CA 94080
566 MAGNOLIA Ave South San Francisco, CA 94080
Price: $499,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 1,380 |
| $/Sq. Ft.: | $362 |
| Lot Size: | 4,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1950 |
| Stories: | 2 |
Loss if sold for asking: $251,000 or 33.5%
Another short sale in South City. This is a fairly new listing and the pictures look decent.
316 LUX Ave South San Francisco, CA 94080
316 LUX Ave South San Francisco, CA 94080
Price: $799,000
| Beds: | 6 |
| Baths: | 4 |
| Sq. Ft.: | 4,937 |
| $/Sq. Ft.: | $162 |
| Lot Size: | 5,600 Sq. Ft. |
| Year Built: | 2004 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | Old South SF/ |
| County: | San Mateo |
This is a fairly new duplex and it is already a short sale. The realtor that posted the listing seems very fond of spaces and caps:
T H I S I S A S H O R T S A L E. .. S U B J E C T T O L E N D E R A P P R O V A L. O C C U P I E D O N E U N I T A N D R E N T T H E N E X T U N I T F O R A D D E D I N C O M E. THIS DUPLEX WAS A L M O S T B R A N D N E W . 3 B D R M E A C H. AND F A M I L Y RM. 2.5 BA. E A C H U N I T. L A R G E B D R M S. I D E N T I C A L U N I T. 2 C A R G A R A G E. APPT. ONLY
Cheapest property in San Mateo County – 1 Appian Way #714
So today there was an article about homes in the Bay Area selling for less than $100k and the news also did a report on it. So I looked in San Mateo County to see if anything is in that price range. The closest thing I found was this studio at 1 Appian Way #714. It’s currently listed for $138,900 after being on the market for 8 months and 4 price reductions. The last sale price was $575k in 2005. That’s a big ouch.
All thing considered, this home is still $278 per square foot, so you may not be getting the best bang for your buck, but a studio like that in South San Francisco could rent from $800 to $1000 a month, so it may just be worth buying?
August 2008 Troubled Sellers Update Part 3 – Redwood City to Woodside
City of Redwood City
The biggest loser in July for Redwood City goes to 590 Hurlingame. This home in the Dumbarton neighborhood is listing for $269k below its May 2007 sale price of $579k. Check out the full list of 70 troubled properties here: rwc831.csv
City of San Bruno
58 properties are available in San Bruno. The biggest loser for August in San Bruno is 244 East Ave. This four bedroom home is down $350k since its last sale price.
Raw data: sanbruno831.csv
City of San Carlos
The number of troubled sellers in San Carlos is now 5. The new addition is 2743 San Carlos Ave and it is listing for 120k below its last price.
Raw data: sancarlos831.csv
City of San Mateo
Quite a few properties were taken off market in San Mateo so now the total number of troubled sellers is down a bit to 78.
Raw data: sanmateo831.csv
City of South San Francisco
More than thirty properties were taken off market in South San Francisco. I have sales stats for some of them. There are a total of 86 troubled homes in this update. One notable property is 779 Park Way, which had an asking price of 915k but exchanged hands for only a little above $600k. 602519 Raw data: ssf831.csv
City of Woodside
5 Stadler Dr is still $27k below its 2005 sale price of $1.825 million.
Final Summary:
Atherton:0
Belmont:7
Brisbane:7
Burlingame:7
Colma:3
Daly City: 187
East Palo Alto:93
Foster City: 8
Coastside: 24
Hillsborough: 5
Menlo Park: 16
Millbrae:6
Pacifica: 35
Redwood City:70
San Bruno: 58
San Carlos:5
San Mateo: 78
South San Francisco: 86
Woodside: 1
Total: 689 properties in trouble
This is a decrease of 33, or 4.6% from last month. It may be due to the fact that there are fewer listings now since the prime selling season is over. Additionally, a lot of homes were taken off market.
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