San Mateo Home Sellers in Trouble - Bay Area Real Estate Bubble Updates » Listing in 04/2009

1050 Connecticut Dr REDWOOD CITY, CA 94061

admin — Sat, 02 May 2009 00:35:21 +0000

Price: $940,500

Beds:	4
Baths:	3
Sq. Ft.:	3,380
$/Sq. Ft.:	$278
Lot Size:	6,138 Sq. Ft.
Property Type:	Single Family Detached
Style:	Custom
Stories:	2
Neighborhood:	REDWOOD

Last sale:

Dec 06, 2004	Sold	$1,130,000

Dec 06, 2004

Sold

$1,130,000

Loss if sold for asking: $159,500

This home certainly has an interesting facade. It’s one of the larger single family homes in this area and it looks pretty well maintained. This was actually financed by a 80% adjustable loan. Prime adjustable loans actually have pretty low rates right now, so these sellers may not really be in that much trouble. The price per square foot is low for the area and perhaps it has a good chance of selling quickly.

205 Peoria St Daly City, CA 94014

admin — Sat, 04 Apr 2009 22:29:32 +0000

205 Peoria St Daly City, CA 94014

Price: $280,000

Beds:	1
Baths:	1
Sq. Ft.:	750
$/Sq. Ft.:	$373
Lot Size:	-
Property Type:	Single-Family Home
Style:	Bungalow
Year Built:	1917

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.