12 ATHLONE Ct Menlo Park, CA 94025
12 ATHLONE Ct Menlo Park, CA 94025
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,250 |
| $/Sq. Ft.: | $639 |
| Lot Size: | 5,115 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Traditional |
| Stories: | 1 |
| View: | Neighborhood |
| Year Built: | 1950 |
Last sale: Nov 23, 2005 Sold $960,000
Loss if sold for asking: $161,000
It looks like the current owners bought this home back in 2005 with a $720k adjustable loan. Their listing price will help them just break even. Open house this weekend on September 12th and 13th from 1pm to 4pm.
Menlo Park plans to artificially prop up home prices
Apparently, city officials in Menlo Park are planning to spend $1 million to prop up prices in East Menlo Park. The basic deal is that they will find delinquent homeowners and help them negotiate a refinance with a local bank. The city will pitch in 30% of the loan amount, and the homeowner has to pay the mortgage on the remaining 70%. When the home sells the city will split the appreciation with the homeowner 50/50. Supposedly East Palo Alto is considering something similar.
I personally go to East Menlo Park a lot for this restaurant called Back A Yard Grill . They really have the best jerked chicken, but that neighborhood is not somewhere you want to be after dark. The houses there are definitely not worth the 600k to 700k they sold for in the peak, and using public funds to keep prices that high seems pretty ridiculous. What do you think?
300 SAND HILL Cir #203 Menlo Park, CA 94025
300 SAND HILL Cir #203 Menlo Park, CA 94025
Price: $1,225,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 2,067 |
| $/Sq. Ft.: | $593 |
| Lot Size: | - |
| Property Type: | Condominium |
| Style: | Contemporary |
| Year Built: | 1974 |
| Stories: | 1-3 (Low Rise) |
| View: | Golf Course |
Last sale:
| Jan 17, 2007 | Sold | $1,300,000 |
Loss if sold for asking: $75,000 or 5.8%
Listing history:
| Jan 06, 2009 | Price Changed | $1,225,000 | – | MLSListings #80845325 |
This is a nice condo on a golf course, and after being listed for 2 months it’s already had a $200k price cut. There is an open house tomorrow from 1 to 4pm.
Get ready for new sewage fees Peninsula homeowners!
According to today’s news Belmont will be the first city in the peninsula to impose a fee for its share in a $400 million sewage treatment upgrade project. This amounts to an average of $250 per homeowner added to the yearly property tax bill, and that doesn’t seem to be that bad, but businesses will be charged based on the type and size of the business property.
More southern peninsula cities such as Redwood City and San Carlos may follow soon, but I think this project is sorely needed. I’ve worked in Redwood Shores and Foster City for almost four years and the toilets have plugged up at our office building multiple times after heavy rains.
The fee is probably not big enough to send homeowners into financial trouble, but small businesses such as laundromats could see a pretty painful tax.
Upcoming San Mateo Properties in REDC auctions
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