313 MAGELLAN Dr Pacifica, CA 94044
313 MAGELLAN Dr Pacifica, CA 94044
Price: $530,000
| Beds: | 4 |
| Baths: | 3 |
| Sq. Ft.: | 1,790 |
| $/Sq. Ft.: | $296 |
| Lot Size: | 4,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Contemporary |
| Year Built: | 1968 |
Last sale:
| Jun 24, 2004 | Sold | $725,000 |
Loss if sold for asking: $295,000 or 40.7%
It seems that this was originally bought with 2 fixed loans that totaled 100% of $725k, and then the owners refinanced in 2006 into two variable loans totaling $774k. This means there might have been some cash out. This is a short sale, and I guess the sellers won’t really lose much since they don’t have to pay back the money they cashed out. There is an open house from 2 to 4pm on the 28th.
1233 BELLEVUE Ave #1 Burlingame, CA 94010
1233 BELLEVUE Ave #1 Burlingame, CA 94010
Price: $818,000
| Beds: | 2 |
| Baths: | 2.5 |
| Sq. Ft.: | 1,550 |
| $/Sq. Ft.: | $528 |
| Lot Size: | - |
| Property Type: | Townhouse |
| Style: | Cape Cod |
| Year Built: | 1985 |
| Stories: | 1-3 (Low Rise) |
Last sale:
| Aug 29, 2007 | Sold | $869,000 |
Loss if sold for asking: $51,000 or 5.9%
This actually looks like a well maintained townhome in a good part of Burlingame. However, buying this home at the current price would work out to be quite a bit more than just renting in the same area. Looks like there are no defaults or late payments on this home so it may take a while for the price to be lowered because I don’t think the owners are that desperate. There are open homes scheduled for three Sundays starting this Sunday. You can see it on 2/22, 3/1, and 3/8 from 2 to 4 pm.
2106 CORONET Blvd Belmont, CA 94002
2106 CORONET Blvd Belmont, CA 94002
Price: $774,500
| Beds: | 4 |
| Baths: | 2 |
| Sq. Ft.: | 1,710 |
| $/Sq. Ft.: | $453 |
| Lot Size: | 7,200 Sq. Ft. |
| Property Type: | Detached Single Family |
| Year Built: | 1947 |
Last sale:
| May 12, 2005 | Sold | $800,000 |
Loss if sold for asking: $25,500 or 3.2%
This is a decent sized Belmont home with a pool. The sellers took out two loans that covered 100% of 800,000 from the now dead Greenpoint Mortgage. This means the mortgage alone would have been $4000 to $5000 a month on this puppy. This would be double the price of renting a home like this. Anyway, there is an open house this weekend from 1:00pm to 4:00pm.
1344 BERNAL Ave Burlingame, CA 94010
1344 BERNAL Ave Burlingame, CA 94010
Price: $1,385,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,850 |
| $/Sq. Ft.: | $749 |
| Lot Size: | 6,000 Sq. Ft. |
| Property Type: | Detached Single Family |
| Style: | Mediterranean |
| Year Built: | 1922 |
Last sale: Aug 17, 2006 Sold $1,425,000
Loss if sold for asking: $40000 or 2.8%
I’m not quite sure what the realtor means when he says “Absolutely Done!!!” He seems very fond of exclamation marks and I hope he does not talk like that in real life. Anyway, this property has showings for the next 3 Sundays from 2:00pm to 4:00pm. I would wait for the owners to reduce the price on this puppy since it is about $130 or about 20% more per square foot than the median in Burlingame, and Redfin stated that Burlingame is one of the cities with the most price reductions. Chances are the owners of this lovely property will realize that they priced their home too high.
420 CEDAR St Redwood City, CA 94063 – A good deal?
420 CEDAR St Redwood City, CA 94063
Price: $425,000
| Beds: | 5 |
| Baths: | 2 |
| Sq. Ft.: | 1,800 |
| $/Sq. Ft.: | $236 |
| Lot Size: | 5,000 Sq. Ft. |
| Year Built: | 1950 |
| Stories: | 1 |
| Neighborhood: | Dumbarton |
Last sale: May 23, 2001 Sold $592,500 – Yup.. it’s down from 2001!!
Loss if sold for asking: $167500 or 28.3%
This property has been on the market for about 9 months now. It is a duplex and the smaller unit actually pulls in $1400 in rent. This could be a good deal for someone with the downpayment. Here are the calculations:
Downpayment: 20% = 85,000
Loan: $340,000
Terms: 5.25% fixed – This is a duplex so you could qualify for primary residence rates if you live in half of it.
Monthly mortgage: $1877.49
Income: $1400
Taxes: Approximately 1.1% so it’s about $400 a month.
Insurance: $50 a month or $600 a year as an estimate.
So if you live in half of it and collect the rent, then you would be spending around $1027.49 a month to own this. Additionally, you can deduct the mortgage interest on the portion you live in. This could be a good deal provided that the house isn’t super trashed. It is in the area near Redwood City downtown, and it can be a little sketchy at night I guess, but the neighborhood isn’t horrible. I’m convinced that there is something else wrong with this place. It is a short sale, and banks have been notoriously slow in responding to offers, and maybe that’s why it still hasn’t sold.
3904 HACIENDA St San Mateo, CA 94403
3904 HACIENDA St San Mateo, CA 94403
Price: $925,000
| Beds: | 3 |
| Baths: | 2 |
| Sq. Ft.: | 1,820 |
| $/Sq. Ft.: | $508 |
| Lot Size: | 9,794 Sq. Ft. |
| Property Type: | Attached Single Family |
| Year Built: | 1952 |
| Stories: | 2 |
| View: | Bay, Mountains |
Last sale:
| Jan 31, 2006 | Sold | $1,090,000 |
Loss if sold for asking: $165,000 or 15.1%
This home is in a fairly nice area of San Mateo. It is a short sale at about the median price per square foot. The lot is also a fairly good size.
Offers
Subscribe to San Mateo Home Sellers in Trouble
