485 A St #9 Daly City, CA 94014 - Real Price Back to 1989
485 A St #9 Daly City, CA 94014
Price: $179,900
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 788 |
| $/Sq. Ft.: | $228 |
| Lot Size: | 800 Sq. Ft. |
| Age (Years): | 44 |
| Year Built: | 1964 |
| Type: | Condominium |
Sales history:
| Date | Price | Appreciation |
| May 19, 1989 | $144,000 | |
| Nov 21, 1990 | $165,000 | |
| Oct 19, 1994 | $171,972 | |
| Feb 23, 1995 | $100,000 | |
| Apr 17, 1995 | $145,000 | |
| Aug 16, 2006 | $450,000 | |
| Jul 29, 2008 | $289,000 |
This is an interesting property because it has a sales history from the last housing bubble to the current housing bubble. There are enough datapoints for me to make a graph.
Series 1 is a series of the sales prices, ending with the current listing price. Series 2 is a graph of the original $144,000 sales price in 1989 appreciating by 3% per year. After nearly 20 years, the current sales price does not beat the inflation adjusted price from 1989! However, the person that bought in 1995 did get an excellent rate of appreciation. So I guess catching the bottom and selling at the peak is the most profitable thing to do.
Fresh Price Reductions 8/19/2008
Here are some fresh price cuts from today in San Mateo County
1835 Bahia St, San Mateo, 94403 - I first listed this home in June, since then it has been cut $90k and is now $599,000.
4226 GEORGE Ave #4 San Mateo, CA 94403 - This one is only reduced around $12000, but it is $97k below its last sale price.
3629 PACIFIC Blvd San Mateo, CA 94403 - This home seller in trouble has cut the price another $30k today. Now it is $146k below its last sale price.
621 HELLER St Redwood City, CA 94063 - This home just cut its price $79k and is now down $230k from its last sale price.
271 B St Redwood City, CA 94063 -After 23 days on the market this home has been reduced $50k today. It is now $54k below its last price.
These are only a few of the homes that were reduced today. There has been reductions everyday so keep an eye out!
1455 GORDON St Redwood City, CA 94061 - $450000+ price reduction
1455 GORDON St Redwood City, CA 94061
Price: $799,900
| Beds: | 5 |
| Baths: | 3.5 |
| Sq. Ft.: | 2,480 |
| $/Sq. Ft.: | $323 |
| Lot Size: | 6,095 Sq. Ft. |
| Age (Years): | 70 |
| Year Built: | 1938 |
| Type: | Detached Single Family |
Last sale: Dec 15, 2005 $1,020,000
Loss if sold for asking: $220100 or 21.6%
After being on the market for six months, this property finally dropped its price by $455100. That is a significant price reduction and perhaps it will accept some bids now? The price per square foot is way below the market price for the neighborhood, and the house looks quite decent.
1025 TOYON Dr Burlingame, CA 94010
1025 TOYON Dr Burlingame, CA 94010
Price: $649,900
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,970 |
| $/Sq. Ft.: | $330 |
| Lot Size: | 6,400 Sq. Ft. |
| Age (Years): | 62 |
| Year Built: | 1946 |
| Type: | Detached Single Family |
Last sale: Jun 24, 2008 $935,420
Loss if sold for asking: $285520 or 30.5%
This home is from a tip by reader Carina. She says “Just wanted you to know, 1025 Toyon, a bank owned property, just came on the market today at $649K. Its a nice size, 3/2 at almost 2000 sq ft, but it is right across the street from the train tracks.” This is indeed a nice sized house in Burlingame. It’s kind of odd that the bank took it back for $935k when the assessed value is only $700k or so. I guess someone went crazy on the cash out refinances. Thanks for your tip Carina!
396 IMPERIAL Way #106 Daly City, CA 94015
396 IMPERIAL Way #106 Daly City, CA 94015
Price: $168,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 817 |
| $/Sq. Ft.: | $206 |
| Lot Size: | - |
| Age (Years): | 34 |
| Year Built: | 1974 |
| Type: | Condominium |
| Stories: | Low Rise (1-3 Stories) |
Last sale: Dec 29, 2006 $465,000
Loss if sold for asking: $297,000 or 63.9%
These condos rent for about $1400 a month, so $168,000 is almost reasonable. It does have a pretty high HOA and it is located in Crown Colony, which is a pretty big and old complex in Daly city.
446 Andover Dr Pacifica, CA 94044
446 Andover Dr Pacifica, CA 94044
Price: $459,000
| Beds: | 3 |
| Baths: | 1 |
| Sq. Ft.: | 1,130 |
| $/Sq. Ft.: | $406 |
| Lot Size: | - |
| Property Type: | Detached, Single-Family Home |
| Property Style: | Ranch |
| Year Built: | 1965 |
Last sales: Apr 07, 2005 $598,000 Jun 29, 2005 $685,000
Loss if sold for asking: $226,000 or 33%
This is a pre-foreclosure, which means that if it doesn’t sell and gets foreclosed it will probably come back on the market at a lower price. It’s a small rancher in Pacifica that doesn’t seem all that special. I would buy it if it were another 50% off.
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