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.
116 N ROCHESTER St San Mateo, CA 94401
116 N ROCHESTER St San Mateo, CA 94401
Price: $634,000
| Beds: | 4 |
| Baths: | 2 |
| Sq. Ft.: | 1,440 |
| $/Sq. Ft.: | $440 |
| Lot Size: | 5,795 Sq. Ft. |
| Age (Years): | 60 |
| Type: | Detached Single Family |
| Stories: | 1 Story |
Listing history:
| Date | Price |
| Jun 25, 2007 | $817,000 |
| Sep 16, 2007 | $802,000 |
| Nov 25, 2007 | $762,000 |
| Jan 22, 2008 | $737,000 |
| Feb 28, 2008 | $698,000 |
| Apr 20, 2008 | $630 |
| Apr 21, 2008 | $634,000 |
Last sale: Jun 21, 2005 $738,000
Loss if sold for asking: $104,000 or 14.1%
Comments: Too bad you can’t take advantage of pricing mistakes on Redfin. Otherwise I would have bought this one for $630 on 4/20/2008. Now that it’s $634k, it’s not so attractive anymore. It’s kind of hilarious that they wanted to sell this for $817k last year. It seems that they failed miserably.
2829 CURTIS AVE Redwood City, CA 94063
2829 CURTIS AVE Redwood City, CA 94063
Price: $339,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 830 |
| $/Sq. Ft.: | $408 |
| Lot Size: | 1,500 Sq. Ft. |
| Age (Years): | 60 |
| Type: | Detached Single Family |
Listing price history:
| Date | Price |
| Jun 21, 2007 | $550,000 |
| Jul 10, 2007 | $525,000 |
| Jul 23, 2007 | $499,000 |
| Sep 23, 2007 | $449,000 |
| Oct 15, 2007 | $399,000 |
| Dec 29, 2007 | $329,000 |
| Jan 04, 2008 | $339,000 |
Last sale date: 9/12/2005
Last sale price: $525,000
Loss if sold at asking: 35,4% or $186,000
Comments: Another listing that got a price bump up this year.
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