411 MIDWAY Ave San Mateo, CA 94402
411 MIDWAY Ave San Mateo, CA 94402
Price: $1,099,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 980 |
| $/Sq. Ft.: | $1,121 |
| Lot Size: | 10,004 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Cottage/ |
| Stories: | 1 |
| View: | Neighborhood |
| Year Built: | 1920 |
I have started a new category called “delusional sellers”. This tiny little house close to Hillsborough is listed at $1121 per square foot. What I love about the listing is that the real estate agent doesn’t seem too enthusiastic about it, either. Here is what he/she wrote:
A beautiful 10,000 square foot lot in much sought after San Mateo Park. The home is small with very little updating, but seems sound. There is a pool in back that doesn’t look too bad, but needs some repairs. It’s probably a tear down, but you be the judge. Marvelous opportunity.
So basically the realtor is saying that it is a good lot, and a crappy house. I’m glad this agent isn’t using words like “cozy” and “cute”. At this price chances are this will linger on the market for quite a while. Most of the homes in that neighborhood have very big lots, and 10000 square foot isn’t really that spectacular.
500 LIVE OAK Way #503 Belmont, CA 94002
500 LIVE OAK Way #503 Belmont, CA 94002
Price: $731,000
| Beds: | 3 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,096 |
| $/Sq. Ft.: | $349 |
| Lot Size: | - |
| Property Type: | Condominium |
| Style: | Contemporary, Cottage/ |
| Stories: | 1-3 (Low Rise) |
| View: | Neighborhood |
| Year Built: | 2005 |
Last sale:
| Sep 27, 2005 | Sold | $989,000 |
Loss if sold for asking: $258,000 or 26.1%
My husband actually lived right next to this condominium complex when it was being constructed. He was renting one of the several hundred apartments surrounding this complex. When the homes were finally constructed they were all listed for around $1 million while the apartment buildings surrounding it were renting for less than $1500. I actually went to one of the open houses there and yes, of course these condominiums are nicer than the apartments, but for the most part they fit right into the neighborhood full of 2 to 3 story apartment buildings. It’s not a bad neighborhood, but if you have this kind of money it is probably better to just buy a single family home and avoid the $300+ HOA.
1 DAFFODIL Ln San Carlos, CA 94070
1 DAFFODIL Ln San Carlos, CA 94070
Price: $844,900
| Beds: | 3 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,510 |
| $/Sq. Ft.: | $337 |
| Lot Size: | 1,829 Sq. Ft. |
| Property Type: | Townhouse |
| Style: | Mediterranean |
| View: | Bay, Neighborhood |
| Year Built: | 1988 |
Sale history:
Aug 10, 2007 Sold $1,080,000 5.7%/yr Public Records
Jul 27, 2005 Sold $965,000 10.1%/yr Public Records
Jun 14, 2002 Sold $715,000 7.4%/yr Public Records
Jun 10, 1997 Sold $499,000 7.2%/yr Public Records
Nov 01, 1994 Sold $416,000 -1.9%/yr Public Records
Jul 07, 1989 Sold $460,000 158.1%/yr Public Records
Mar 01, 1989 Sold $330,000 — Public Records
Loss if sold for asking: $235,100 or 21.8%
I used to live next to these million dollar townhouses in San Carlos. They are at the top of the hills and have a nice view, but I’m not sure if it’s worth a million. Well, I guess now it is down to 844k and it is an REO. The association fee is over $500 a month, though.
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