590 Lisbon St Daly City, CA 94014

Price: $1,498,000

Last sale:

Loss if sold for asking: $77,000 or 4.9%

Another apartment building up for sale, but this one is in Daly City.  It seems like more and more multifamily buildings are coming up for sale, but it is tough for investors to get a loan these days since a lot of banks have cut off funding to investors entirely.

316 LUX Ave South San Francisco, CA 94080

Price: $799,000

This is a fairly new  duplex and it is already a short sale.  The realtor that posted the listing seems  very fond of  spaces and caps:

T H I S I S A S H O R T S A L E. .. S U B J E C T T O L E N D E R A P P R O V A L. O C C U P I E D O N E U N I T A N D R E N T T H E N E X T U N I T F O R A D D E D I N C O M E. THIS DUPLEX WAS A L M O S T B R A N D N E W . 3 B D R M E A C H. AND F A M I L Y RM. 2.5 BA. E A C H U N I T. L A R G E B D R M S. I D E N T I C A L U N I T. 2 C A R G A R A G E. APPT. ONLY

1803 S NORFOLK St San Mateo, CA 94403

Price: $650,000

Last sale:

Loss if sold for asking: $325,000 or 33.3%

This house is a short sale. Supposedly it was a nursing home and the last seller put down 10% and took out two ARM loans for 80% and 10%:

243 HAZEL Ave REDWOOD CITY, CA 94061

Price: $232,900

Last sale:

Loss: $300k to $400k
This bank owned property had a peak sale price of $690,000 in 2006, and  now it is being listed for  less than $233k.  It is being sold by Countrywide/Bank of America.   This is a pretty amazing  price considering that the zipcode 94061 still has a median  price per square foot of over $500.  It could be because this home is right on Woodside Ave. and sits right across from a cemetary.   Anyway, the pictures look like  the real estate agent was running with the camera.  San Mateo County also gives this property an assessed value of $717k so the tax bill is pretty high even if you buy it for $233k.  

208 Los Olivos Ave Daly City, CA 94014

Price: $80,000

Okay, on a first glance this looks like a super good deal, but then if you read the description it makes you think to yourself, “what the hell am I buying?”

This is the property description: “Occupant is a 60 year old female in good health. (she states) She was bequesthed a life estate in the property. She must pay all expenses, ie taxes, insurance, maintenance, etc. What is being sold is the remainder inerest.”

Are you buying the home with the occupant inside? Does she even own the house? It seems all a bit iffy. The listing agent also doesn’t know how to spell “bequeathed” and “interest”.