211 OAK Ave Redwood City, CA 94061
211 OAK Ave Redwood City, CA 94061
Price: $549,900
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,320 |
| $/Sq. Ft.: | $417 |
| Lot Size: | 5,000 Sq. Ft. |
| Age (Years): | 86 |
| Year Built: | 1922 |
| Type: | Detached Single Family |
Last REAL sale: Oct 19, 2006 $900,000
Last Bank Repo Sale: Jan 23, 2008 $706,500
Loss if sold for asking: -$350100 or 38.9%
Comments: This is a house pretty close to where I live. I would buy it if it were $350k or so. I guess it might happen in a year or so if it drops at the same rate. This one has an assessment of $900k still. That means an instant equity of $350k!
111 W 3RD Ave #00204 San Mateo, CA 94402
111 W 3RD Ave #00204 San Mateo, CA 94402
Price: $769,000
| Beds: | 2 |
| Baths: | 2 |
| Sq. Ft.: | 1,969 |
| $/Sq. Ft.: | $391 |
| Lot Size: | - |
| Age (Years): | 20 |
| Year Built: | 1988 |
| Type: | Condominium |
Last sale: Apr 07, 2003 $785,000
Loss if sold for asking: $16000 or 2%
Comments: Holy crap, a $660 HOA. That is more than the rent I paid per month when I lived in San Carlos! This is one of those rare listings that has rolled back to 2003.
2480 GONZAGA St East Palo Alto, CA 94303 – Rolled Back to 1999!
2480 GONZAGA St East Palo Alto, CA 94303
Price: $220,900
| Beds: | 3 |
| Baths: | 1 |
| Sq. Ft.: | 1,010 |
| $/Sq. Ft.: | $219 |
| Lot Size: | 6,000 Sq. Ft. |
| Age (Years): | 57 |
| Year Built: | 1951 |
Sales history:
| Date | Price | Appreciation |
| Jun 25, 1999 | $230,000 | |
| Jun 15, 2005 | $560,000 | |
| Apr 12, 2007 | $74,201 | |
| Aug 07, 2007 | $480,865 |
Listing history:
| Date | Price |
| Apr 10, 2008 | $295,900 |
| May 02, 2008 | $220,900 |
Loss if sold for asking: $259965 or 54.1%
Comments: Here’s a highlight from the last report. Okay, so this one is in East Palo Alto, but it just got a new price cut and now the listing price is lower than its 1999 sales price of $230,000! Considering inflation and such in the last 9 years, $230,000 in 1999 is worth considerably more than $220,900 now. We will see if this happens in the rest of San Mateo!
1522 2ND Ave San Mateo, CA 94401
1522 2ND Ave San Mateo, CA 94401
Price: $479,900
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 970 |
| $/Sq. Ft.: | $495 |
| Lot Size: | 5,200 Sq. Ft. |
| Age (Years): | 62 |
| Year Built: | 1946 |
Sales history:
Sep 02, 2005 $685,000
Jan 11, 2008 $493,000
Loss if sold for asking: $13100, or 2.7%
Comments: This is currently the cheapest single family home in the city of San Mateo by price. It is pretty ugly, though. I am pretty sure it is a foreclosure because the last price was from January of this year and it is higher than the listing price. It is down 200k from its price in 2005.
27 CHANNING Rd Burlingame, CA 94010
27 CHANNING Rd Burlingame, CA 94010
Price: $799,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 1,050 |
| $/Sq. Ft.: | $761 |
| Lot Size: | 5,750 Sq. Ft. |
| Age (Years): | 86 |
| Year Built: | 1922 |
Last sale: Oct 31, 2006 $885,000
Loss if sold for asking: -$86000 or -9.7%
Comments: This place is smaller than the condo I rent. With 20% down and a 6% 30 year fixed mortgage this house would cost just over $3800 a month in mortgage. Sure, it is in Burlingame, but here’s a house that’s 30% bigger near this one that’s 9k cheaper. I think this home seller in trouble on Channing will have to reduce the price some more to move this property.
1055 BERKELEY Ave Menlo Park, CA 94025
1055 BERKELEY Ave Menlo Park, CA 94025
Price: $765,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 950 |
| $/Sq. Ft.: | $805 |
| Lot Size: | 10,018 Sq. Ft. |
| Age (Years): | 60 |
| Year Built: | 1948 |
Last sale: Aug 31, 2005 $820,000
Loss if sold for asking: $55,000 or 6.7%
Comments: Could this be a good investment? Supposedly it includes an unwarranted studio and the house and studio are both being rented out for a total of $3500 a month. Now if you buy it at $765k and put 20% down. You may be able to get a 30 year fixed loan at 6% and your mortgage would be $3669.25 a month. I guess as long as you or your tenants don’t mind living on the 101 you could be a landlord and lose less than $1000 a month! The plot of land is pretty big, though. So you will have plenty of room to build another shack on the highway and rent it out for another $1000. What an amazing opportunity!
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