177 VELASCO Ave & 165 Velasco Ave Daly City, CA 94014 – Fishy Sales Histories
177 VELASCO Ave Daly City, CA 94014
Price: $564,900
| Beds: | 3 |
| Baths: | 3 |
| Sq. Ft.: | 2,370 |
| $/Sq. Ft.: | $238 |
| Lot Size: | 2,500 Sq. Ft. |
| Property Type: | Attached Single Family |
| Style: | Contemporary |
| Year Built: | 2004 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | Southern Hills |
| County: | San Mateo |
Last sale:
| Jan 31, 2006 | Sold | $865,000 |
This home at 177 Velasco was first listed in April 2007. Now it’s once again on the market at an even lower price. What’s interesting to note is the sales history of this home. First it was sold for $670k in 2004 to an Allen, Tina N with two Countrywide loans that added up to 100% of the home. And then in 2005 the home was sold between Nguyen, Trang K and Nguyen, Hung for $750k. Again this was done with a 100% Countrywide loan. Then finally Allen, Nhi T sold the home to Abiva, Jeremy and Allen, Tina Nhi in 2006 for $865k. It seems like Allen, Nhi T and Allen, Tina Nhi are the same person. Additionally, if you look at the sales history for another foreclosed property at 165 Velasco you’ll see the same sale prices of $670k to $865k and the same repeating names of Allen, Nhi T, Nguyen, Hung, and Nguyen, Trang K where Allen, Nhi T sells 165 Velasco to the Nguyens for $865k. I’m not quite sure what’s going on, but the bottom line is that Countrywide definitely lost money on these.
Homes with Million Dollar Price Reductions
San Mateo County is home to extremely wealthy towns such as Hillsborough and Atherton. Some of the estates in these places are really unbelievable. I was surfing Redfin today I found some very beautiful properties that have had multi-million dollar price reductions. Here is a showcase.
535 EL ARROYO Rd Hillsborough, CA 94010
Listing history:
| Date | Price |
| Apr 02, 2007 | $7,280,000 |
| Jun 28, 2007 | $6,850,000 |
| Feb 20, 2008 | $5,880,000 |
| Feb 25, 2008 | $5,860,000 |
| Apr 30, 2008 | $5,480,000 |
Yup, this one is down $1.8 million since last year. It is by all means an extremely luxurious look castle. I am sure someone with enough dough will snap it up soon, well, maybe in a year.
150 ALMENDRAL Ave Atherton, CA 94027
Listing history:
| Date | Price |
| Feb 27, 2007 | $9,950,000 |
| Apr 10, 2008 | $8,950,000 |
Well, this one admits that they are too ashamed to show the house so they said “VALUE IS IN THE LAND”. It is reduced exactly $1 million since last year.
262 W SANTA INEZ Ave Hillsborough, CA 94010
| Date | Price |
| May 30, 2006 | $13,800,000 |
| May 27, 2007 | $15,500,000 |
| Nov 28, 2007 | $12,995,000 |
This one has been on the market for more than 2 years. It’s an extremely ostentatious replica of an 18th century French chateau. It is pretty impressive, but it’s been reduced $2.5 million from its May 2007 price.
435 PULLMAN Rd Hillsborough, CA 94010
Listing history:
| Date | Price |
| Jun 01, 2007 | $15,000,000 |
| Nov 13, 2007 | $13,888,000 |
| May 06, 2008 | $12,880,000 |
This is yet another mansion in Hillsborough. This one is down $2.1 million since last year. That’s a pricecut of more than 10%.
Well, I’m sure these people aren’t actually in trouble since they bought these homes a long time ago, but at least it’s comforting to know that they are realistic and following the market in listing their crazy mansions.
718 S IDAHO ST #1 San Mateo, CA 94402
718 S IDAHO ST #1 San Mateo, CA 94402
Price: $488,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,450 |
| $/Sq. Ft.: | $337 |
| Lot Size: | 99 Sq. Ft. |
| Age (Years): | 27 |
| Type: | Townhouse |
Price History:
| Date | Price |
| Apr 13, 2007 | $699,000 |
| May 18, 2007 | $669,000 |
| Jun 05, 2007 | $629,000 |
| Aug 08, 2007 | $579,000 |
| Oct 15, 2007 | $569,000 |
| Mar 24, 2008 | $538,000 |
| Mar 24, 2008 | $488,000 |
Last sale: Aug 11, 2005 $720,000
Loss if sold for asking: $232,000 or 32.2%
Comments: This one is an oldie but a goodie. I first saw it about a year ago and I thought, woah! $120k reduction! Now a year later it still hasn’t sold and it just endured another six price cuts. I guess noone wants a foreclosure. Perhaps after being featured on this blog it will sell?
9 13TH AVE San Mateo, CA 94402
9 13TH AVE San Mateo, CA 94402
Price: $799,888
| Beds: | 3 |
| Baths: | 2.5 |
| Sq. Ft.: | 1,680 |
| $/Sq. Ft.: | $476 |
| Lot Size: | 6,750 Sq. Ft. |
| Age (Years): | 69 |
| Type: | Detached Single Family |
Listing Price History
| Date | Price |
| May 07, 2007 | $1,098,000 |
| Jun 05, 2007 | $1,067,888 |
| Jul 11, 2007 | $1,049,988 |
| Aug 24, 2007 | $949,988 |
| Sep 24, 2007 | $899,888 |
| Oct 10, 2007 | $799,888 |
Last Sale Date: 3/28/2006
Last Sale Price: $840,000
Loss if sold at asking: 4.8% or $40112
Comments: Wow, almost sold after a year of listing! Judging by all the 888s on the listing prices I’m guessing the seller is Chinese.
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