117 D St, Redwood City, CA 94063
This one was sent in by reader Dale. Thanks Dale!
This is a bank owned property now selling for $399k. The following is the listing Dale sent in from 2007:
Considering that they bought this house in 2006 for $830k, I guess they were just trying to cover their costs. Unfortunately it ended in an epic fail.
Loss: $431k or 51.9%
3550 CARTER Dr #00078 South San Francisco, CA 94080 – New Price
I first posted about this property 8 months ago. Now it is back on the market and it is listed for $399k. In the last post some people wondered how this condo could have sold for more than $900k in 2004. Apparently, the owner sold the home to himself according to county records:
| Document Details | |||
|---|---|---|---|
| Sale amount | $928,000 | ||
| Lender # 1 | Empire Capital Mortgage Corp | ||
| Loan amount # 1 | $408,000 | ||
He bought it for $375k back in 2002, and it’s pretty weird that it could just be sold back to himself like this.
2831 WHIPPLE Ave Redwood City, CA 94062
2831 WHIPPLE Ave Redwood City, CA 94062
Price: $699,500
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 1,290 |
| $/Sq. Ft.: | $542 |
| Lot Size: | 7,300 Sq. Ft. |
| Age (Years): | 67 |
| Year Built: | 1941 |
| Type: | Detached Single Family |
Listing history:
| Date | Price |
| Nov 07, 2007 | $848,000 |
| Feb 01, 2008 | $748,000 |
| Jun 06, 2008 | $699,500 |
Last sale: Aug 18, 2004 $729,000
Loss if sold for asking: $29500 or 4.0%
This house is following the market down since last year. If they listed this at 699,500 last year, this one would have probably sold. But nopes they got greedy and wanted to make 100k. Now they might lose just as much if more price cuts are in the future.
3550 CARTER Dr #00078 South San Francisco, CA 94080
3550 CARTER Dr #00078 South San Francisco, CA 94080
Price: $420,000
| Beds: | 3 |
| Baths: | 2.5 |
| Sq. Ft.: | 1,644 |
| $/Sq. Ft.: | $255 |
| Lot Size: | - |
| Age (Years): | 29 |
| Year Built: | 1979 |
| Type: | Townhouse |
Listing history:
| Date | Price |
| Nov 16, 2007 | $519,000 |
| Dec 17, 2007 | $439,000 |
| Apr 30, 2008 | $420,000 |
Last sale: Oct 05, 2004 $928,000
Loss if sold for asking: $508000 or 54.7%
Comments: Ah, another condo in Skyline Village. There are so many condos selling at the address that I fear it’s falling apart. This one is down $500k+ after 4 years.
Update of Homes Listed in October and November of 2007
Here are some more updates of homes that I have featured in the past!
Sold listings:
1181 Elmer ST Belmont, CA 94002 – Sold for $610000 on April 10th, 2008. This is $15000 below the last asking price. That brings the total loss on the property to $107000 or 14.9%. It took about 6 months to sell.
115 JASMINE WAY East Palo Alto, CA 94303 – Sold for $360000 on April 3rd, 2008. This is $74000 below the last listing price of $434000. This brings the total loss to $135000, or 27.3%. This also took 6 months to sell.
554 STANFORD AVE Redwood City, CA 94063 – Sold for $329,375 on Mar 21st, 2008. This is $85625 below the last listing price of $415000. This brings the total loss to $209625 or 38.9%. I think this is a omen that a lot of the listings in the 94063 zip code could still fall quite a bit.
4008 FARM HILL BLVD #00102 Redwood City, CA 94061 – Sold for $417,000 on 4/4/2008. This is $32000 below its last listing price and brings the total loss to $83000 or 16.9%.
12 N NORFOLK ST San Mateo, CA 94401 – Sold for $515,000 on 3/14/2008. This is $35000 below its last listing price and the total loss is now $210000 so the final loss is 31.1%.
333 3RD AVE Daly City, CA 94014 – Sold for $607,050 in March after only 4 months on the market. This is $112950 below the last listing so the final loss is $227950 or 27.3%
Price Reductions:
7209 ADMIRALTY LN Foster City, CA 94404 – Down another $500.
199 SELBY LN Atherton, CA 94027 - Relisted and reduced another $30000
192 MELISSA CIR Daly City, CA 94014 – Reduced another $80000
864 RAND ST San Mateo, CA 94401 – Reduced another $65000 just yesterday!
735 SKYLINE DR Daly City, CA 94015 – Reduced another $150000 last week! This is the biggest reduction I saw so far.
948 DAISY ST San Mateo, CA 94401 – Down another $6000.
The rest of the listings listed in October and November are still either on the market with the same price or pulled out all together without new information. As you can see, ALL of the sold listings sold for below asking. This is a good hint to offer for lower than listing on these properties still on the market.
504 MONTEREY Rd #00011 Pacifica, CA 94044
504 MONTEREY Rd #00011 Pacifica, CA 94044
Price: $405,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,050 |
| $/Sq. Ft.: | $386 |
| Lot Size: | - |
| Age (Years): | 27 |
| Year Built: | 1981 |
Listing price history:
| Date | Price |
| Nov 13, 2007 | $699,000 |
| Feb 06, 2008 | $599,000 |
| Feb 18, 2008 | $499,000 |
| Mar 07, 2008 | $405,000 |
Last sale: Aug 24, 2006 $660,000
Loss if sold for asking: $255,000 or 38.6%
Comments: This one just went through a $94k price reduction a couple days ago. It looks like a decent condo. The Redfin description says “daysleeper, please tone down voice while talking”. That sounds pretty scary since it sounds like a vampire or something lives there.
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