840 OCEAN VIEW Ave San Mateo, CA 94401 Price Rolled Back to 2001

840 OCEAN VIEW Ave San Mateo, CA 94401

Price: $494,900

Beds:	4
Baths:	2
Sq. Ft.:	1,300
$/Sq. Ft.:	$381
Lot Size:	5,000 Sq. Ft.
Age (Years):	59
Year Built:	1949
Type:	Detached Single Family
Style:	Ranch
Stories:	1 Story
View(s):	Neighborhood

Sales history:

Date	Price	Appreciation
Oct 30, 1997	$267,000	–
Mar 25, 1999	$327,000	15.6%/yr
Sep 26, 2001	$550,000	23.0%/yr
Jan 31, 2005	$256,000	-20.4%/yr
Oct 27, 2006	$810,000	94.2%/yr

Loss if sold for asking: $315100 or 38.9%

The sales history is very telling on this one and covers pretty much all of the housing bubble and bust. Now we see this bank owned home is going for less than its sales price in 2001!

June 17, 2008 | Filed Under City of San Mateo, Dollar loss: $300k to $400k, Fixer Upper, Last Sale in 2006, Listing in 06/2008, Loss: 30 to 40%, Price: 400000 to 600000, REO, Sqft: 1000 to 1500 | 1 Comment

416 RIO VERDE St Daly City, CA 94014

Price: $432,250

Beds:	2
Baths:	1
Sq. Ft.:	1,040
$/Sq. Ft.:	$416
Lot Size:	3,700 Sq. Ft.
Age (Years):	82
Year Built:	1926

Last sale: Jun 01, 2007 $750,000

Loss if sold for asking: $317,750 or 42.4%

The bathrooms look a bit small, but the rest of the pictures look clean and polished. This is a bank owned property as the trend is with many Daly City properties. This one is still priced not low enough since it’s pretty small.

June 13, 2008 | Filed Under City of Daly City, Dollar loss: $300k to $400k, Foreclosure or Shortsale, Last Sale in 2007, Listing in 06/2008, Loss: > 40%, Price: 400000 to 600000, Sqft: 1000 to 1500 | Leave a Comment

2012 PULGAS Ave East Palo Alto, CA 94303

Price: $399,999

Beds:	3
Baths:	2
Sq. Ft.:	1,560
$/Sq. Ft.:	$256
Lot Size:	6,200 Sq. Ft.
Age (Years):	57
Year Built:	1951
Type:	Detached Single Family

Last sale: Feb 14, 2006 $720,000

Loss if sold for asking: $320,001 or 44.4%

Most new listings coming out EPA are troubled properties now, and the average cuts are huge.

June 4, 2008 | Filed Under City of East Palo Alto, Dollar loss: $300k to $400k, Last Sale in 2006, Listing in 05/2008, Loss: > 40%, Price: < 400000, Sqft: 1500 to 2000 | Leave a Comment

629 STANFORD Ave Redwood City, CA 94063

Price: $249,000

Beds:	2
Baths:	1
Sq. Ft.:	720
$/Sq. Ft.:	$346
Lot Size:	2,500 Sq. Ft.
Age (Years):	59
Year Built:	1949

Last sale: May 03, 2007 $634,000

Loss if sold for asking: $385000 or 60.7%

I’m not sure what possessed the last buyer to buy this for 634k. This is not even in a nice area of Redwood City.

June 4, 2008 | Filed Under City of Redwood City, Dollar loss: $300k to $400k, Last Sale in 2007, Listing in 06/2008, Loss: > 40%, Price: < 400000, Sqft: < 1000 | Leave a Comment

672 5TH Ave San Bruno, CA 94066

Price: $298,000

Beds:	2
Baths:	1
Sq. Ft.:	790
$/Sq. Ft.:	$377
Lot Size:	2,500 Sq. Ft.
Age (Years):	58
Year Built:	1950
Type:	Attached Single Family

Last sale: Mar 27, 2006 $600,000

Loss if sold for asking: $302000 or 50.3%

The grass in that picture looks suspicious like astroturf. Though I have no proof that it’s fake grass.

June 1, 2008 | Filed Under City of San Bruno, Dollar loss: $300k to $400k, Last Sale in 2006, Loss: > 40%, Price: < 400000, Sqft: < 1000 | Leave a Comment

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.

May 22, 2008 | Filed Under City of Menlo Park, Dollar loss: $300k to $400k, Last Sale in 2005, Listing in 05/2008, Loss: > 40%, Price: < 400000, REO, Sqft: 1000 to 1500 | Leave a Comment