81 RIDGE VIEW Dr Atherton, CA 94027

Price: $3,495,000

Last sale: Jun 17, 2008 Sold $4,100,000
Loss if sold for asking:$605,000 or 14.8%

It’s been a while since I featured a multimillion dollar home here.  This one is a pretty normal property in Atherton.  It seems that it’s been sold from one trust to another in the past couple decades so I’m sure the sellers aren’t really in trouble, but it seems that they want to get rid of the home in  a hurry because they already cut the price twice.  Lately there has been more and more listings in Atherton and most of these multimillion sales take a pretty long time.   I suspect the inventory will build up further.

50 ALHAMBRA Ct Portola Valley, CA 94028

Price: $1,685,000

Last sale: Apr 29, 2005 Sold $1,855,000
Loss if sold for asking: $170,000 or 9.2%

This Portola Valley home is on a huge tree covered lot and just recently cut its listing price by more than $350,000 from $2.049 million to $1.685 million. This may be worth a look for the uber rich though the house is quite small for the area. This is the first Portola Valley listing we have featured here.

3610 WOODSIDE Rd Woodside, CA 94062

Price: $11,900,000

Last sale: Nov 07, 2006 Sold $12,108,000

Loss if sold for asking: $208,000 or  1.7%

First of all, that overhead picture of the estate looks like it’s straight out of a fairytale.  It’s beautiful, and it’s probably the most expensive listing that I have found so far that has a last sale price that’s higher than the current listing price.  Since this home’s first listing the price has been cut 2.6 million, but I think it’s still way out of reach for mere mortals.   It should be interesting to see what it finally sells for.

341 SEVILLE Way San Mateo, CA 94402

Price: $1,489,000

Last sale: Aug 15, 2006 $1,521,000

Loss if sold for asking: $32,000 or  2.1%

It seems that they put the lockbox password on the listing: 84361199 .  That never seemed very wise to me because I think bums and criminals could just scan these listings, find the passwords and steal all the nice staged furniture inside these homes or squat there.

19 WOODLEAF Ave Redwood City, CA 94061

Price: $2,150,000

Last sale: Jun 18, 2004 $2,249,000

Loss if sold for asking: $99,000 or 4.4%

This is a very nice looking house near where I live.  It is currently 4.4% below its 2004 price, but for that kind of money you can probably buy something in Atherton, Woodside, or even Hillsborough.

1816 MONTECITO Way Burlingame, CA 94010

Current Price: $1,888,000
If sold with a cost of 6%: $1,774,720
Last sale price: Jul 11, 2007 $1,775,000

1101 CORTEZ Ave Burlingame, CA 94010

Current Price: $1,399,000
If sold with cost of 6%:  $1,315,060
Last sale price: Oct 31, 2006 $1,350,000

 128 CHANNING Rd Burlingame, CA 94010

Current Price: $1,595,000
If sold with cost of 6%: $1,499,300
Last sale price: Jun 17, 2005 $1,499,000

1017 BALBOA Ave Burlingame, CA 94010

Current price: $2,595,000
If sold with cost of 6%: $2,439,300
Last sale price: May 25, 2007 $2,440,000

2940 TROUSDALE Dr Burlingame, CA 94010

Current price: $1,388,000
If sold with cost of 6%: $1,304,720
Last sale price: Mar 16, 2005 $1,320,000

486 WALSH Rd Atherton, CA 94027

Price: $4,125,000

Last sale: Oct 18, 2000 $4,300,000

Loss if sold for asking: $175,000 or  4.1%

This is a brand new listing in Atherton that is listing for 4% off its 2000 price.  It is open on 9/21 and 9/28 from 1:30 to 4:30pm.  I guess 4% isn’t that bad of a loss.

2 ZACHARY Ct Menlo Park, CA 94025

Price: $2,570,000

Last sale price: Oct 31, 2001 $2,500,000

Original list price: May 12, 2008 $2,950,000

After 3 months on the market and almost $400k in price reductions, this house is now listed for less than 3% above its 2001 price.  This is in the prime area of west Menlo Park west of Alameda de Las Pulgas.

801 CRYSTAL SPRINGS Rd San Mateo, CA 94402

Price: $2,200,888

Last sale: Jun 30, 2005 $2,380,000

Loss if sold for asking:  -$179112 or 7.5%

This is a house very close to Hillsborough, and it looks quite nice from the pictures.   The property tax on it costs way more than my rent.  The sales history on this property is quite interesting.  In the last bubble of 1990 it sold for $897k, and then in 1997 it went for only $850k.  By that logic, it would be worth a little less than now in 2012.

35 WINDING Way San Carlos, CA 94070

Price: $1,798,000

Listing history:

Last sale: Nov 03, 2000 $1,825,000

 Loss if sold for asking: $27000 or 1.5%

Comments:  I featured another Winding Way house on this article about the most expensive homes by price per square foot.   I must say that this house is a better deal.  It is a bit too big for me, and too expensive, but someone with money may find this to be a good buy.  It is in the woods, though, and that street is really hard to drive on. One thing of interest is that  this house’s new listing price after a $200k pricecut is lower than its price in 2000!  What a deal!