702 CASSIA St Redwood City, CA 94063 – Almost Worth Buying?
702 CASSIA St Redwood City, CA 94063
Price: $448,000
| Beds: | 3 |
| Baths: | 1.5 |
| Sq. Ft.: | 1,815 |
| $/Sq. Ft.: | $247 |
| Lot Size: | - |
| Age (Years): | 34 |
| Year Built: | 1974 |
| Type: | Townhouse |
Days on market: 154
Okay this isn’t exactly a home seller in trouble since the last sale date was 1991 and it sold for 225k. However, this townhouse has been listed for more than 5 months and suffered a pricecut of around $150k. At the current price, it is almost worth buying. If you put $90k down and get a 30 year mortgage at 6.75% the monthly mortgage would be around $2300. That’s about the amount of rent you need to pay to rent such a place. Of course, there is an HOA of $175 and property taxes of around $300 to $400 a month. However, those fees should be covered by the tax rebate on the interest for the first few years. So I think this property is almost worth buying. What do you think?
909 ANNA ST San Mateo, CA 94401
909 ANNA ST San Mateo, CA 94401
Price: $525,000
| Beds: | 2 |
| Baths: | 2 |
| Sq. Ft.: | 870 |
| $/Sq. Ft.: | $661 |
| Lot Size: | 5,250 Sq. Ft. |
| Age (Years): | 58 |
| Year Built: | 1950 |
| Type: | Detached Single Family |
Last sale: Oct 23, 2006 $665,000
Loss if sold for asking: $140,000 or -21.1%
As I looked at this new one day old listing, I wondered why it looked so familiar, and so I did a search on my blog here, and oh look, it was listed back in March for $50k more!!! Still, at the current price it’s way above the average price per square foot for Shoreview. Anyway, at least this new listing looks nicer and has a picture.
780 AVELAR St East Palo Alto, CA 94303
780 AVELAR St East Palo Alto, CA 94303
Price: $704,900
| Beds: | 4 |
| Baths: | 2.5 |
| Sq. Ft.: | 2,800 |
| $/Sq. Ft.: | $252 |
| Lot Size: | 3,774 Sq. Ft. |
| Age (Years): | 5 |
| Year Built: | 2003 |
Listing history:
| Date | Price |
| Mar 03, 2008 | $742,900 |
| Mar 20, 2008 | $731,900 |
| Apr 08, 2008 | $717,900 |
| Apr 28, 2008 | $704,900 |
Past sales:
| Feb 14, 2007 | $885,000 | |
| Feb 06, 2008 | $755,896 |
Loss if sold for asking: -$50996 or 6.7%
Comments: I have to say this house doesn’t look that bad and it could probably be listed for over a million in my zip and maybe 3 million in Palo Alto. Ah, location, location, location.
2191 POPLAR Ave East Palo Alto, CA 94303 – 100k Pricecut every 2 Weeks
2191 POPLAR Ave East Palo Alto, CA 94303
Price: $199,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 920 |
| $/Sq. Ft.: | $216 |
| Lot Size: | 5,000 Sq. Ft. |
| Age (Years): | 58 |
| Year Built: | 1950 |
Listing price history:
| Date | Price |
| Mar 07, 2008 | $499,000 |
| Mar 19, 2008 | $450,000 |
| Apr 04, 2008 | $399,000 |
| Apr 14, 2008 | $350,000 |
| Apr 23, 2008 | $299,000 |
| May 08, 2008 | $199,000 |
Last sale:
Aug 21, 1995 $148,000
Comments: My friend Michael showed me this one. It hasn’t gone lower than its last sales price, yet, but it is getting $100k price cuts every two weeks since last month. So maybe if you wait for two weeks this one will roll back to 1995.
1313 CARLTON Ave Menlo Park, CA 94025
1313 CARLTON Ave Menlo Park, CA 94025
Price: $375,000
| Beds: | 3 |
| Baths: | 1 |
| Sq. Ft.: | 1,110 |
| $/Sq. Ft.: | $338 |
| Lot Size: | 6,000 Sq. Ft. |
| Age (Years): | 59 |
| Year Built: | 1949 |
Listing history:
| Date | Price |
| Mar 28, 2008 | $475,000 |
| Apr 10, 2008 | $375,000 |
Last sale: Jun 24, 2005 $675,000
Loss if sold for asking: $300000 or 44.4%
Comments: In the last summary issue of San Mateo Home Sellers in Trouble we saw 1320 Carlton in Menlo Park. It seems that this house down the street at 1313 Carlton is a much better deal. This is a short sale and it’s bigger than the property at 1320. These two houses on Carlton are currently the cheapest homes in Menlo Park by listing price.
1953 IVY ST San Mateo, CA 94403
1953 IVY ST San Mateo, CA 94403
Price: $558,000
| Beds: | 2 |
| Baths: | 1.5 |
| Sq. Ft.: | 820 |
| $/Sq. Ft.: | $680 |
| Lot Size: | 4,000 Sq. Ft. |
| Age (Years): | 87 |
| Year Built: | 1921 |
Listing history:
| Date | Price |
| Mar 24, 2008 | $588,000 |
| Mar 24, 2008 | $558,000 |
Last sale: Jul 29, 2005 $649,000
Loss if sold for asking: $81000 or -12.5%
Comments: Talk about confidence. This listing dropped $30,000 on its debut. At its current price it’s still one of the more expensive listings in San Mateo by price per square foot.
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