485 A St #9 Daly City, CA 94014 - Real Price Back to 1989

 

485 A St #9 Daly City, CA 94014

Price: $179,900

Beds: 2
Baths: 1
Sq. Ft.: 788
$/Sq. Ft.: $228
Lot Size: 800 Sq. Ft.
Age (Years): 44
Year Built: 1964
Type: Condominium

Sales history:

Date Price Appreciation
May 19, 1989 $144,000

Nov 21, 1990 $165,000

9.4%/yr

Oct 19, 1994 $171,972

1.1%/yr

Feb 23, 1995 $100,000

-79.0%/yr

Apr 17, 1995 $145,000

>1,000%/yr

Aug 16, 2006 $450,000

10.5%/yr

Jul 29, 2008 $289,000

-20.3%/yr

This is an interesting property because it has a sales history from the last housing bubble to the current housing bubble. There are enough datapoints for me to make a graph.

dalycity.JPG

Series 1 is a series of the sales prices, ending with the current listing price. Series 2 is a graph of the original $144,000 sales price in 1989 appreciating by 3% per year. After nearly 20 years, the current sales price does not beat the inflation adjusted price from 1989!  However, the person that bought in 1995 did get an excellent rate of appreciation.  So I guess catching the bottom and selling at the peak is the most profitable thing to do.

4102 ADMIRALTY Ln Foster City, CA 94404 - Lower than 2001 real price

4102 ADMIRALTY Ln Foster City, CA 94404

Price: $315,000

Beds: 1
Baths: 1
Sq. Ft.: 748
$/Sq. Ft.: $421
Lot Size: -
Age (Years): 43
Year Built: 1965
Type: Condominium

Last sales:

   
Apr 27, 2001 $302,500

Jun 19, 2008 $262,500

-2.0%/yr

Listing states that it is a REO.  It is a pretty small and old condo in Foster City with a high HOA, but the price is only 13k above its 2001 sale price.  If you consider inflation, $302k in 2001 is supposed to be worth $373k today.  (See inflation calculator from BLS)  This might be a good deal for a single person who really wants to live in Foster City.

1504B Day Ave San Mateo, CA 94403 - Another Off-MLS Listing

 1504B Day Ave San Mateo, CA 94403

Sold For:

$330,000

(08/06/2004)

Beds: 1
Baths: 1
Sqft: 490
Style: Condominium

This is yet another off MLS listing I found on Craigslist.   It’s a pretty small condo and it’s now listing for $299k.  That makes it $610 per squarefoot.  As far as San Mateo condos go, that’s still pretty expensive. 

Contact Anne Oliva (650) 291 9775 or Denise Baker (650) 888-1387
Remarges@aol.com. www. realestatemarges.com

.

396 IMPERIAL Way #106 Daly City, CA 94015

396 IMPERIAL Way #106 Daly City, CA 94015

Price: $168,000

Beds: 1
Baths: 1
Sq. Ft.: 817
$/Sq. Ft.: $206
Lot Size: -
Age (Years): 34
Year Built: 1974
Type: Condominium
Stories: Low Rise (1-3 Stories)

Last sale: Dec 29, 2006 $465,000

Loss if sold for asking: $297,000 or  63.9%

These condos rent for about $1400 a month, so $168,000 is almost reasonable.  It does have a pretty high HOA and it is located in Crown Colony, which is a pretty big and old complex in Daly city.

828 7TH Ave San Bruno, CA 94066

828 7TH Ave San Bruno, CA 94066

Price: $399,988

Beds: 2
Baths: 1
Sq. Ft.: 790
$/Sq. Ft.: $506
Lot Size: 2,500 Sq. Ft.
Age (Years): 64
Year Built: 1944
Type: Detached Single Family
Style: Ranch
Stories: 1 Story
View(s): Neighborhood

Last sale: Oct 27, 2006 $625,000

Loss if sold for asking: 225,012 or 36%

I love how the description of the house on Redfin reads:  “price hard to ignore given the advantages of owing in this area. probably best value home in the area. “  That’s right,if you buy this house you will owe somebody money.  That’s very appropriate I suppose.

1022 VALOTA Rd Redwood City, CA 94061

1022 VALOTA Rd Redwood City, CA 94061

Price: $599,000

Beds: 2
Baths: 1
Sq. Ft.: 950
$/Sq. Ft.: $631
Lot Size: 4,000 Sq. Ft.
Age (Years): 56
Year Built: 1952
Type: Detached Single Family

Last sale: Sep 10, 2007 $665,000

Loss if sold for asking: $66,000 or  -10.0%

I am pretty sure that this is not a new listing because I have seen a sign with its address at the corner of Woodside and Valota  for months.   Anyway, this is another example of an overpriced tiny house that has less living space than the condo I live in.  It’s still very expensive for the quality of the neighborhood.

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