900 SOUTH Rd Belmont, CA 94002 – Realtor was foreclosed on
About half a year ago I wrote this post: 900 SOUTH Rd Belmont, CA 94002 – Realtor in Trouble?
It was the listing for a wooden shell for 1.3 million dollars owned and listed by a realtor based in Redwood City. It seems that the home actually got foreclosed on in June by JP Morgan Chase for the amount of $1,168,813 and went back on the market in late July for only $693,000. It is an REO and now it is pending without release so if it actually sold for asking the bank is taking a hit of almost $500k. I guess the lot is quite large, but the new pictures look like some people have been stealing wood from the place:
I hope the new owner finishes the home and enjoys it.
512 Stanford Avenue – Up for grabs at auction
A bit over a year ago I posted about a triple homicide at the property at 512 Stanford Avenue in Redwood City. At that time the home was listing for $337k and the last sale price was 587k in January 2007. Now you have 8 days left to grab this property at auction.
According to the Hudson and Marshall website, the last highbid is only $167,500, and this is the description:
512 Stanford Avenue
Redwood City, CA 94063
Bed: 3 Only 8 Days Left
to Bid NowBath: 1 Bid Now! Sq. Ft.: 820 Comments:
Last High Bid $167,500
Agent disclosure requiring buyer signature regarding homicides at property
Buyers who are interested in purchasing this property prior to the auction must be pre-qualified for financing through Wells Fargo or Wachovia. (This is only a requirement to be pre-qualified; the final loan may be obtained through any financial institution)
Please call 1-877-937-9357 during the following times:
Monday – Friday, 7:00 am – 11:00 pm Central Time
Saturday, 8:00 am – 4:30 pm Central Time
Or online at: Wells Fargo Pre-Qualification Form
Would you buy this for $168k?
411 MIDWAY Ave San Mateo, CA 94402
411 MIDWAY Ave San Mateo, CA 94402
Price: $1,099,000
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 980 |
| $/Sq. Ft.: | $1,121 |
| Lot Size: | 10,004 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Cottage/ |
| Stories: | 1 |
| View: | Neighborhood |
| Year Built: | 1920 |
I have started a new category called “delusional sellers”. This tiny little house close to Hillsborough is listed at $1121 per square foot. What I love about the listing is that the real estate agent doesn’t seem too enthusiastic about it, either. Here is what he/she wrote:
A beautiful 10,000 square foot lot in much sought after San Mateo Park. The home is small with very little updating, but seems sound. There is a pool in back that doesn’t look too bad, but needs some repairs. It’s probably a tear down, but you be the judge. Marvelous opportunity.
So basically the realtor is saying that it is a good lot, and a crappy house. I’m glad this agent isn’t using words like “cozy” and “cute”. At this price chances are this will linger on the market for quite a while. Most of the homes in that neighborhood have very big lots, and 10000 square foot isn’t really that spectacular.
1022 S DELAWARE St San Mateo, CA 94402
1022 S DELAWARE St San Mateo, CA 94402
Price: $469,950
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 860 |
| $/Sq. Ft.: | $546 |
| Lot Size: | 4,280 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Contemporary |
Last sale: Apr 28, 2005 Sold $655,000
Loss if sold for asking: $185050 or 28%
Loss of equity per month: $3701
It looks like the realtor tried to spruce up the photo a little bit and the tree looks like its an unnatural green color. Supposedly this is not a short sale or REO, but it has been listed 3 times now since April 2008. Here is the listing history:
Jun 28, 2009 Listed $469,950 – EBRD #40417039
Jun 28, 2009 Listed $469,950 — MLSListings #80931255
Jan 07, 2009 Delisted * — Inactive MLSListings #1
Sep 15, 2008 Price Changed * — Inactive MLSListings #1
Jul 16, 2008 Relisted * — Inactive MLSListings #1
Jul 15, 2008 Delisted * — Inactive MLSListings #1
May 14, 2008 Price Changed * — Inactive MLSListings #1
May 07, 2008 Price Changed * — Inactive MLSListings #1
Apr 23, 2008 Price Changed * — Inactive MLSListings #1
Apr 14, 2008 Listed
It is definitely overpriced for the neighborhood it is in,and it is one tiny house.
1115 DAVIS St Redwood City, CA 94061
1115 DAVIS St Redwood City, CA 94061
Price: $399,900
| Beds: | 2 |
| Baths: | 1 |
| Sq. Ft.: | 930 |
| $/Sq. Ft.: | $430 |
| Lot Size: | 3,306 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Ranch |
| Stories: | 1 |
| View: | Neighborhood |
| Year Built: | 1918 |
| Community: | Central Park |
Last sale: Sep 27, 2006 Sold $585,000
It looks like this home first went on sale in 2007 and was listed for a total of five times. Now it is a REO. The price has been cut by at least 100k since its first listing and it is down a bit more than 170k from the last sale price. Good luck moving this one.
139 14TH Ave San Mateo, CA 94402
139 14TH Ave San Mateo, CA 94402
Price: $678,000
| Beds: | 1 |
| Baths: | 1 |
| Sq. Ft.: | 660 |
| $/Sq. Ft.: | $1,027 |
| Lot Size: | 5,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Cottage/ |
| Stories: | 1 |
| Year Built: | 1908 |
Last sale:
| May 22, 2007 | Sold | $696,000 |
Just when I thought the last little cottage was expensive, I stumbled upon this little charmer. It is in a decent neighborhood of San Mateo, but the owner is asking for over $1000 per square foot for this little hundred year old cottage. There is an open house this Sunday, and I really wonder if there are gold toilets or flooring in this house to warrant this price?
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