1825 MIDDLEFIELD Rd Redwood City, CA 94063

Price: $259,900

Last sale:
Sep 11, 2006 $630,000
4/18/2000 $297,500

Yup, this little rancher has rolled back to below its 2000 sale price. What a difference 9 years make. This is currently owned by U.S. Bank and it is definitely the cheapest single family home in Redwood City now based on price per square foot. It looks like it needs some fixing, and it is not in the best neighborhood, but at least it is priced to be affordable to median income families now.

205 Peoria St Daly City, CA 94014

Price: $280,000

Last sales:
Nov 18, 2008 Sold $410,000 -12.4%/yr Public Records
Oct 27, 2005 Sold $615,000 33.4%/yr Public Records
Jul 30, 2004 Sold $430,000 16.1%/yr Public Records
Dec 03, 2001 Sold $289,000 6.5%/yr Public Records

Here is another home that’s cheaper than 2001 and more than 50% off its peak.   It looks like quite a fixer, and it is still priced above the median price per square foot of Daly City.  This is probably not a surprise but it was also financed 100% by loans  in 2005.

1234 CLINTON St Unit 201-C Redwood City, CA 94061

Price: $319,000

This is probably the cheapest 2 bedroom condominium in Redwood City right now. It is in a decent neighborhood and the HOA is a fairly low $200 a month. However, this is a fixer upper and a short sale, so it may be even cheaper once it forecloses.

Oh come on.. you left out the best parts of this little dandy.

1) How about the food left in the back room- is it still decaying on the dresser?

2) Has anyone ever flushed the toilet, or is hte floater still around?

3) How about all the fun you can have rolling down your own private hill- a.k.a, the second level living room floor;

4) The bulging outdoor walls where you can estimate for yourself how much longer before the house gives way.

5) Ever take a peak inside the ‘attics’ of the little rentals? Please do- then you’ll know where all those used oil containers go.

6) It wasn’t a woman who owned the house- it was a man. You can see all of his bank and tax records in the bedroom where he died.

7. The woman, I believe, was his sister- she was collecting the rents and putting them in her pocket. This lasted until the bank protested and kicked everyone out. I could go on and on, but I think you get the gist why this home is still on the market.

Thank you KT for these insights.  I also heard that there was an official looking notice taped to the door that said all the structures are worth less than $100.  Is that still there?  Keep the tips coming because they’re pretty entertaining.

The plot of land may be worth the price, but there will be headaches with it.

401 S GRANT St San Mateo, CA 94402

Price: $664,900

Sales history:

Listing history:

This house’s facade reminds me of a shoebox with random holes cut into it and it is the same size as the condo I live in. This is a bank owned property and I think they are being a bit too optimistic with the price. I think this will stay on the market for a very long time if they don’t start cutting $100k a month. It is currently more than $100k less than its 2005 price.

840 OCEAN VIEW Ave San Mateo, CA 94401

Price: $494,900

Sales history:

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!

29 Fairway Dr Daly City, CA 94015

Price: $624,900

Last sale: Jul 03, 2006 $861,000

Loss if sold for asking: $236100  or 27.4%

Comments:  This is classified as a fixer and it’s a spanking new listing.    One of the room has magenta walls so I highlighted the loss in magenta…

Price: $366,000

Listing date: 3/18/2008
Last sale: Apr 20, 2004 $400,000
Loss if sold for asking: 8.5% or $34,000
Comments: This is a very beat up and small house in Menlo Park. All things considered, I think the previous house is a better deal. This one is rolling back to lower than its 2004 sales price.

650 SAINT FRANCIS BLVD Daly City, CA 94015

Price: $449,000

Last sale: Mar 31, 2005 $775,000

Listing date: 3/21/2008

Loss if sold for asking:  $326,000 or 42.1%

Comments: The description seems to indicate that this a contractor’s special and needs fixing.