81 RIDGE VIEW Dr Atherton, CA 94027
81 RIDGE VIEW Dr Atherton, CA 94027
Price: $3,495,000
| Beds: | 4 |
| Baths: | 4 |
| Sq. Ft.: | 3,650 |
| $/Sq. Ft.: | $958 |
| Lot Size: | 0.85 Acres |
| Property Type: | Detached Single Family |
| Style: | Ranch |
| Stories: | 1 |
| View: | Neighborhood |
| Year Built: | 1950 |
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.
1050 Connecticut Dr REDWOOD CITY, CA 94061
Price: $940,500
| Beds: | 4 |
| Baths: | 3 |
| Sq. Ft.: | 3,380 |
| $/Sq. Ft.: | $278 |
| Lot Size: | 6,138 Sq. Ft. |
| Property Type: | Single Family Detached |
| Style: | Custom |
| Stories: | 2 |
| Neighborhood: | REDWOOD |
Last sale:
| Dec 06, 2004 | Sold | $1,130,000 |
Loss if sold for asking: $159,500
This home certainly has an interesting facade. It’s one of the larger single family homes in this area and it looks pretty well maintained. This was actually financed by a 80% adjustable loan. Prime adjustable loans actually have pretty low rates right now, so these sellers may not really be in that much trouble. The price per square foot is low for the area and perhaps it has a good chance of selling quickly.
911 9th Ave, San Mateo, CA 94402
911 9TH Ave San Mateo, CA 94402
Price: $575,000
| Beds: | 4 |
| Baths: | 2 |
| Sq. Ft.: | 3,125 |
| $/Sq. Ft.: | $184 |
| Lot Size: | 4,720 Sq. Ft. |
| Year Built: | 1938 |
Last sale: 1/5/2006 for $999k
Loss if sold for asking: $424k or 42.4%
I first mentioned this home in the post about multifamily properties. Now it is down another $300k. This is another short sale. It is in a decent neighborhood near Central Park and you could rent out half of it so it might almost be worth it if you can secure financing.
Here is the math. Suppose you put 20% down and finance 460k, which is still a conforming loan in San Mateo, then at 5% the mortgage is $2469 a month. Then you need to add around $600 a month in property tax and another $70 to $100 in insurance. If you have a tenant on one half of the property then you could collect rent of $1500. Add in some tax deductions and this place is almost cheaper than renting. Of course, there are utilities and maintenance costs, too.
900 SOUTH Rd Belmont, CA 94002 – Realtor in Trouble?
900 SOUTH Rd Belmont, CA 94002
Price: $1,300,000
| Beds: | 5 |
| Baths: | 3.5 |
| Sq. Ft.: | 3,500 |
| $/Sq. Ft.: | $371 |
| Lot Size: | 0.3 Acres |
| Property Type: | Detached Single Family |
| Style: | Contemporary |
| Year Built: | 2009 |
| Stories: | 2 |
| View: | Canyon, City Lights |
| Neighborhood: | Belmont Country Club |
| County: | San Mateo |
Something must be wrong when you try to sell a house that’s “70% finished”. Anyway, I looked up this property on PropertyShark and it showed that it is owned by “Ghafouri,Paymon & Velecia T “. The name Paymon sounded really familiar so I Googled him, and what do you know, he is a Realtor in Redwood City and I have been to his website before. It seems that he took out a construction loan in the amount of $760k in 2006 to build this big mansion in Belmont, but now the work isn’t being finished. Not sure what the story is there, but it sure seems funny to list a shell of a home for over $1 million.
590 Lisbon St Daly City, CA 94014
590 Lisbon St Daly City, CA 94014
Price: $1,498,000
| Beds: | - |
| Baths: | - |
| Sq. Ft.: | 10,348 |
| $/Sq. Ft.: | $145 |
| Lot Size: | - |
| Property Type: | Apartments, 5-15 Units |
| Style: | Contemporary |
| Year Built: | 1971 |
| Stories: | 3 |
| View: | City Lights |
| Region: | San Mateo County/ |
Last sale:
|
Loss if sold for asking: $77,000 or 4.9%
Another apartment building up for sale, but this one is in Daly City. It seems like more and more multifamily buildings are coming up for sale, but it is tough for investors to get a loan these days since a lot of banks have cut off funding to investors entirely.
316 LUX Ave South San Francisco, CA 94080
316 LUX Ave South San Francisco, CA 94080
Price: $799,000
| Beds: | 6 |
| Baths: | 4 |
| Sq. Ft.: | 4,937 |
| $/Sq. Ft.: | $162 |
| Lot Size: | 5,600 Sq. Ft. |
| Year Built: | 2004 |
| Stories: | 2 |
| View: | Neighborhood |
| Neighborhood: | Old South SF/ |
| County: | San Mateo |
This is a fairly new duplex and it is already a short sale. The realtor that posted the listing seems very fond of spaces and caps:
T H I S I S A S H O R T S A L E. .. S U B J E C T T O L E N D E R A P P R O V A L. O C C U P I E D O N E U N I T A N D R E N T T H E N E X T U N I T F O R A D D E D I N C O M E. THIS DUPLEX WAS A L M O S T B R A N D N E W . 3 B D R M E A C H. AND F A M I L Y RM. 2.5 BA. E A C H U N I T. L A R G E B D R M S. I D E N T I C A L U N I T. 2 C A R G A R A G E. APPT. ONLY
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