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.
313 MAGELLAN Dr Pacifica, CA 94044
313 MAGELLAN Dr Pacifica, CA 94044
Price: $530,000
| Beds: | 4 |
| Baths: | 3 |
| Sq. Ft.: | 1,790 |
| $/Sq. Ft.: | $296 |
| Lot Size: | 4,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Contemporary |
| Year Built: | 1968 |
Last sale:
| Jun 24, 2004 | Sold | $725,000 |
Loss if sold for asking: $295,000 or 40.7%
It seems that this was originally bought with 2 fixed loans that totaled 100% of $725k, and then the owners refinanced in 2006 into two variable loans totaling $774k. This means there might have been some cash out. This is a short sale, and I guess the sellers won’t really lose much since they don’t have to pay back the money they cashed out. There is an open house from 2 to 4pm on the 28th.
90 CARLETON Ave Daly City, CA 94015
90 CARLETON Ave Daly City, CA 94015
Price: $437,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,160 |
| $/Sq. Ft.: | $377 |
| Lot Size: | 3,500 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Ranch |
| Year Built: | 1958 |
Last sale: Nov 16, 2005 Sold $718,000
Loss if sold for asking: $281,000 or 39.1%
This is a REO listing, but the tax records still say its owner is at 192 Ashland Dr. It seems like the last buyer took two loans from Ameribanc Corp to buy this possibly second home or investment property. 80% was an ARM and 20% was fixed so it was basically a 100% loan. AmeriBanc unceremoniously died last year so I’m not sure who owns this property right now. Anyway,from the pictures it looks like the inside of this property is still intact.
1940 STAFFORD St Redwood City, CA 94063
1940 STAFFORD St Redwood City, CA 94063
Price: $407,900
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,400 |
| $/Sq. Ft.: | $291 |
| Lot Size: | 5,985 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Ranch |
| Year Built: | 1981 |
Last sale:
| Aug 13, 2008 | Sold | $382,500 |
This bank owned property was first purchased in 2002 for $490k with two loans of $392k and $98k. That’s right, that’s equivalent to a 0% down loan. And then in 2004 it was refinanced again with an adjustable loan of $520k and it seems like there was a transfer between family members. And then in 2006 it was refinanced again with two loans of $612,000 and $76,500 for a total of $688,500. So basically this family took out around $200k from this little house during the boom, and finally it went into foreclosure so the last lender is looking around a loss of $280k. It seems like it was a good deal for this particular family because they practically got to live in this house for more than 4 years for free.
1341 BEACON Ave San Mateo, CA 94401 – A true castle that will fit the entire kingdom!
1341 BEACON Ave San Mateo, CA 94401
Price: $549,900
| Beds: | 6 |
| Baths: | 3 |
| Sq. Ft.: | 2,390 |
| $/Sq. Ft.: | $230 |
| Lot Size: | 8,052 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Traditional |
| Year Built: | 1950 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | South Shoreview |
| County: | San Mateo |
Last sale:
Jul 07, 2008 Sold $767,748 -9.9%/yr Public Records
Dec 29, 2006 Sold $900,000 17.4%/yr Public Records
Loss if sold for asking: $217848 or 28.4%
I absolutely love the realtor’s description of this listing: “Ideal for trades person or contractor. .. try the fha rehab loan to make this a true castle that will fit the entire kingdom! Large lot has room for a boat or RV also!” I’m not sure what kind of kingdom that would be, but I guess everyone needs a dream.
It is currently owned by Greenpoint Mtg Funding Inc and there will be an open house this Saturday 1/24 from 1pm to 4pm!
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.
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