2 ZACHARY Ct Menlo Park, CA 94025 – Almost Rolled Back to Original 2001 Price
2 ZACHARY Ct Menlo Park, CA 94025
Price: $2,570,000
| Beds: | 6 |
| Baths: | 4 |
| Sq. Ft.: | 4,267 |
| $/Sq. Ft.: | $602 |
| Lot Size: | 10,080 Sq. Ft. |
| Age (Years): | 7 |
| Year Built: | 2001 |
| Type: | Detached Single Family |
Last sale price: Oct 31, 2001 $2,500,000
Original list price: May 12, 2008 $2,950,000
After 3 months on the market and almost $400k in price reductions, this house is now listed for less than 3% above its 2001 price. This is in the prime area of west Menlo Park west of Alameda de Las Pulgas.
July 2008 Troubled Sellers Update Part 2 – East Palo Alto to Millbrae
Here is part two of the troubled home sellers situation in July 2008.
City of East Palo Alto
In East Palo Alto it is really hard to find a listing that doesn’t belong to a home seller in trouble. I estimate that 90% of the listings on the market are foreclosures. Some notable additions in July include 1827 Stevens Ave, 1678 Purdue Ave, and 2231 Terra Villa St. All three of these homes lost up to 50% of their original value. A lot of properties went off the market so now the total is 105 troubled properties. This is not very different from last month.
Raw data available: epa731.csv
City of Foster City
Once again, all eight of Foster City’s troubled properties are townhouses and condominiums. A couple additions include 1024 Helm Ln and 42 E Court Ln. Both of these homes have been reduced into troubled territory.
Raw data available: fostercity731.csv
Coastside Properties – Half Moon Bay, Moss Beach, Montara, and El Granada
The amount of coastside properties did not change very much. As of 7/31, there are 15 troubled properties in Half Moon Bay, 3 in Moss Beach, and 2 in El Granada. A handful of listings went off the market and a couple of them sold.
Raw data available: coastside731.csv
City of Hillsborough
The mansion at 180 Robin Rd is still for sale for 950k under its 2001 price. Additionally, a couple more troubled sellers turned up. One listing at 15 Crystal TE Spgs is listed $1 under its 2004 price. The sellers of 2795 Summit Dr lowered its price by more than $500k and now it’s about $100k under its 2006 price. Finally, the sellers of 10 Crystal Springs Ter lowered their listing price by $400k in July so the property is now $600k below its last sale price in 2006. This property has the words “pending litigation” under the HOA information. I’m not quite sure what that means but it doesn’t sound nice.
City of Menlo Park
All 14 of the properties I found in Menlo Park are in East Menlo Park near East Palo Alto. I guess it’s not the best part of town.
Raw data available: menlo731.csv
City of Millbrae
Of the five properties in Millbrae, one standout property in Millbrae is 1116 Landing Ln. It went through a $250k pricecut in July. I think that qualifies as a HUGE price reduction.
Raw data available: millbrae731.csv
More to come!
June 2008 Update Part 2 – Half Moon Bay to Redwood City
Coastside Properties – Half Moon Bay, Moss Beach, Montara, and El Granada
As promised, I am including all the coastside troubled properties in this update. The breakdown is currently 15 properties in Half Moon Bay, 1 in Montara, 3 in Moss Beach, and 4 in El Granada. Some of the homes in El Granada look quite fine.
Raw data available: coastside630.csv
City of Hillsborough
The mansion at 180 Robin Rd is still for sale for 950k under its 2001 price. This is the only one I found in Hillsborough.
City of Menlo Park
Most of the 19 properties I found are East of highway 101. On particular exception is 2158 Clayton Dr, which is a multi million dollar mansion that just dropped its price in June to $5000 lower than its 2004 sale price. Now it’s pending even though it is still priced at over $1000 per square foot.
Raw data available: menlo630.csv
City of Millbrae
Millbrae is a surprisingly popular city in San Mateo. I guess the BART station there is pretty awesome. The prices are holding up and there are only six troubled properties. The 7 months old listing at 160 Linda Vis reduced its price by another $50k last month. Perhaps it will sell this month?
Raw data available: millbrae630.csv
City of Pacifica
Pacifica currently has 42 troubled properties. Many of them seem to be on a street called Firecrest. Does anyone know what is wrong with this street?
Raw data: pacifica630.csv
City of Redwood City
Apparently home sales in Redwood City has gone up in May. The median price in my zipcode went up again. Many of these 66 listings I found are in the zip 94063, which is not the best area of Redwood City. In fact, recently there was a triple homicide.
That is all for today. Stay tuned for part 3!
1279 CARLTON Ave Menlo Park, CA 94025 Lower than 2002 Sales Price
1279 CARLTON Ave Menlo Park, CA 94025
Price: $374,000
| Beds: | 3 |
| Baths: | 1 |
| Sq. Ft.: | 1,030 |
| $/Sq. Ft.: | $363 |
| Lot Size: | 7,440 Sq. Ft. |
| Age (Years): | 57 |
| Year Built: | 1951 |
| Type: | Detached Single Family |
Sales history:
| Date | Price | Appreciation |
| Jul 31, 2002 | $440,000 | |
| Oct 25, 2005 | $675,000 | |
| Dec 18, 2007 | $575,277 |
Loss if sold for asking: $201277 or 35.0%
Looks like we have another casualty on Carlton that rolled back 5+ years. Here are the other two we have featured previously: 1320 Carlton & 1313 Carlton.
1313 CARLTON Ave Menlo Park, CA 94025
1313 CARLTON Ave Menlo Park, CA 94025
Price: $364,900
| Beds: | 3 |
| Baths: | 1 |
| Sq. Ft.: | 1,110 |
| $/Sq. Ft.: | $329 |
| Lot Size: | 6,000 Sq. Ft. |
| Age (Years): | 59 |
| Year Built: | 1949 |
Last sale: Jun 24, 2005 $675,000
Loss if sold for asking: $310100 or 45.9%
Comments: This new listing looks pretty darn beat up. This is a bank owned property that needs fixing, but hey, it’s Menlo Park and maybe after it’s fixed up it can sell for 900k? Oh wait a minute, it’s not really that new! It was originally listed for $375k in March! These agents are still playing games.
1379 MADERA Ave Menlo Park, CA 94025 – Nearly rolled back to 2001
1379 MADERA Ave Menlo Park, CA 94025
Price: $379,900
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 890 |
| $/Sq. Ft.: | $427 |
| Lot Size: | 6,210 Sq. Ft. |
| Age (Years): | 56 |
| Year Built: | 1952 |
| Type: | Detached Single Family |
Last sale: Apr 03, 2006 $650,000
Loss if sold for asking: $271000 or 41.7%
Comments: I love it, the listing says “Great opportunity for a buyer seeking sweat equity”. Does that mean you have to sweat? Or you are taking the sweat equity of a previous owner? This home actually sold for $375000 in 2001! This means that the listing price today is only $4900 above its 2001 price. Wow, what a bargain!
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