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!
4102 ADMIRALTY Ln Foster City, CA 94404 - Lower than 2001 real price
4102 ADMIRALTY Ln Foster City, CA 94404
Price: $315,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 748 |
| $/Sq. Ft.: | $421 |
| Lot Size: | - |
| Age (Years): | 43 |
| Year Built: | 1965 |
| Type: | Condominium |
Last sales:
| Apr 27, 2001 | $302,500 | |
| Jun 19, 2008 | $262,500 |
Listing states that it is a REO. It is a pretty small and old condo in Foster City with a high HOA, but the price is only 13k above its 2001 sale price. If you consider inflation, $302k in 2001 is supposed to be worth $373k today. (See inflation calculator from BLS) This might be a good deal for a single person who really wants to live in Foster City.
930 ROSEWOOD Dr San Mateo, CA 94401
930 ROSEWOOD Dr San Mateo, CA 94401
Price: $1,249,000
| Beds: | 3 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,090 |
| $/Sq. Ft.: | $598 |
| Lot Size: | 6,930 Sq. Ft. |
| Age (Years): | 80 |
| Year Built: | 1928 |
| Type: | Detached Single Family |
| Style: | Spanish |
| Stories: | Bi/Split Level |
Last sale: May 11, 2005 $1,305,000
Loss if sold for asking: $56000 or 4.3%
That picture makes it look like a very small house with a false wall. It doesn’t exactly scream million dollar home. Here are some comparable data from Redfin that shows a couple troubled homes that sold recently in the neighborhood:
$607,670 720 S Delaware St
Sold on Jun 25, 2008 ,0.23 miles away, 5 bd / 3 ba 2,033 Sq. Ft.
$835,000 718 10th Ave
Sold on Apr 10, 2008 0.32 miles away, 2 bd / 2 ba 1,959 Sq. Ft.
So basically at $598 per square foot, this home is still overpriced for its neighborhood.
1022 VALOTA Rd Redwood City, CA 94061
1022 VALOTA Rd Redwood City, CA 94061
Price: $599,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 950 |
| $/Sq. Ft.: | $631 |
| Lot Size: | 4,000 Sq. Ft. |
| Age (Years): | 56 |
| Year Built: | 1952 |
| Type: | Detached Single Family |
Last sale: Sep 10, 2007 $665,000
Loss if sold for asking: $66,000 or -10.0%
I am pretty sure that this is not a new listing because I have seen a sign with its address at the corner of Woodside and Valota for months. Anyway, this is another example of an overpriced tiny house that has less living space than the condo I live in. It’s still very expensive for the quality of the neighborhood.
2503 HASTINGS SHORE Ln Redwood Shores, CA 94065
2503 HASTINGS SHORE Ln Redwood Shores, CA 94065
Price: $619,000
| Beds: | 3 |
| Baths: | 3 |
| Sq. Ft.: | 1,296 |
| $/Sq. Ft.: | $478 |
| Lot Size: | - |
| Age (Years): | 13 |
| Year Built: | 1995 |
| Type: | Condominium |
Last sale: Aug 18, 2006 $690,000
Listing history:
| Date | Price |
| Feb 07, 2008 | $640,000 |
| May 19, 2008 | $619,000 |
Loss if sold for asking: $71,000 or 10.3%
Another condo on landfill with very high association fees. It is very close to Oracle, though. This is a short sale according to the listing.
1437 BRADLEY Ave San Mateo, CA 94401
1437 BRADLEY Ave San Mateo, CA 94401
Price: $680,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,460 |
| $/Sq. Ft.: | $466 |
| Lot Size: | 7,400 Sq. Ft. |
| Age (Years): | 61 |
| Type: | Detached Single Family |
Listing history:
| Date | Price |
| Jul 09, 2007 | $870,000 |
| Jul 18, 2007 | $829,000 |
| Jul 31, 2007 | $799,000 |
| Oct 15, 2007 | $750,000 |
| Oct 16, 2007 | $799,000 |
| Feb 05, 2008 | $750,000 |
| Apr 30, 2008 | $700,000 |
| May 02, 2008 | $680,000 |
Last sale: Jul 28, 2005 $758,000
Loss if sold for asking: $78000 or 10.3%
Comments: 322 days on the market and no takers. I think this one could afford to drop another $200k before I am interested. North Shoreview isn’t exactly the prettiest neighborhood in San Mateo.
-
Stop the Mortgage Bailout!
