The biggest loser in July for Redwood City goes to 590 Hurlingame. This home in the Dumbarton neighborhood is listing for $269k below its May 2007 sale price of $579k. Check out the full list of 70 troubled properties here: rwc831.csv

City of San Bruno

58 properties are available in San Bruno. The biggest loser for August in San Bruno is 244 East Ave.  This four bedroom home  is down $350k since its last sale price.

Raw data: sanbruno831.csv

City of San Carlos

The number of troubled sellers in San Carlos is now 5. The new addition is 2743 San Carlos Ave and it is listing for 120k below its last price.

Raw data: sancarlos831.csv

City of San Mateo

Quite a few properties were taken off market in San Mateo so now the total number of troubled sellers is down a bit to 78.
Raw data: sanmateo831.csv

City of South San Francisco

More than thirty properties were taken off market in South San Francisco.  I have sales stats for some of them.  There are a total of 86 troubled homes in this update. One notable property is 779 Park Way, which had an asking price of 915k but exchanged hands for only a little above $600k. 602519  Raw data: ssf831.csv

City of Woodside

5 Stadler Dr  is still $27k below its 2005 sale price of $1.825 million.

Final Summary:

Atherton:0

Belmont:7

Brisbane:7

Burlingame:7

Colma:3

Daly City: 187

East Palo Alto:93

Foster City: 8

Coastside: 24

Hillsborough: 5

Menlo Park: 16

Millbrae:6

Pacifica: 35

Redwood City:70

San Bruno: 58

San Carlos:5

San Mateo: 78

South San Francisco: 86

Woodside: 1

Total: 689 properties in trouble

This is a decrease of 33, or  4.6% from last month.  It may be due to the fact that there are fewer listings now since the prime selling season is over.  Additionally, a lot of homes were taken off market.

Once again, all eight of Foster City’s troubled properties are townhouses and condominiums. The new addition in August is 924 Beach Park Blvd #14. It is listing for about $52k below its last sale price. Also, congratulations to the dude that sent me some hate mail. His home sold at the end of July.

Raw data available: fostercity831.csv

Coastside Properties – Half Moon Bay, Moss Beach, Montara, and El Granada

The amount of coastside properties increased a bit since last month. As of 8/31, there are 19 troubled properties in Half Moon Bay, 3 in Moss Beach, and 2 in El Granada. Of note is 2340 Burning Tree Rd in Half Moon Bay. This Ocean Colony mansion on a golf course reduced its price by $300k in August, and is now listing for $234k below its last sale price.

Raw data available: coastside831.csv

City of Hillsborough

The mansion at 180 Robin Rd is still for sale for 950k under its 2001 price. Additionally, the listing at 15 Crystal TE Spgs dropped its price by around $300k in August so it is now $301k below its last sale price in 2004. 2795 Summit Dr is still about $100k under its 2006 price and finally  10 Crystal Springs Ter  is still $600k below its last sale price in 2006.  Additionally, 1115 Bromfield Rd seems to be a bank owned property since it last sold for $1531201 in May 2008.

City of Menlo Park

Menlo Park added a couple more troubled properties in August and the total number of troubled properties is now 16.  One of them is a relisting of 1055 Berkeley Ave.  This property first showed up at least 4 months ago.  The biggest loser is 1120 Madera Ave.  It is listing for $261k below its last sale price.

Raw data available: menlo831.csv

City of Millbrae

Of the six properties in Millbrae, the biggest loser is definitely 1160 Glenwood Dr.  Frankly I cannot believe that someone paid $1068888 in 2005 for this 1240 square foot mid century house.  I mean, it doesn’t seem like the toilets are made out of gold.  It is now listing for $749000, which is only $24000 above its 2002 sale price.

Raw data available: millbrae831.csv

City of Pacifica

Pacifica currently has 35 properties in trouble after a dozen or so went off the market.  One property of note is 397 Lynbrook.  It went off the market last month after  not selling for $509k, but now it is back for $549k. I guess freshening up a stale fish is a common strategy.  The latest sales data shows that 13 Moon Gate Ct sold for $428k on 8/4/2008, and that’s a huge discount from its asking price of $645k.  Is this a foreclosure sale?

Raw data available:  pacifica831.csv

More to come!

City of Atherton

Atherton currently has no active home sellers in trouble.  There are a couple properties that are selling only slightly above their last prices, but they’re not technically in trouble.

City of Belmont

On 8/31 seven properties are in trouble, and one of them is  pending. The newest additions are 2002 Forest Ave and 1134 North Ct (this property is pending). Another property of interest at 15 Kittie Ln, as expected, this property came back on the market after being taken off last month.

Raw data available: belmont831.csv

City of Brisbane

Brisbane had a bit of an increase in troubled properties and now the total is 7.  The newest troubled listing is a condo at 211 Swallotail Ct, and the property with the largest loss is 45 Lupine Valley Ct with a listing price of $400000 below its last sale price.

Raw data available:  brisbane831.csv

City of Burlingame

This month the number of troubled properties rose from 3 to 7 in Burlingame.  Several homes over the $1 million mark dropped their prices.  The newest price reduction happened to 340 Occidental Ave, and now it is below its 2006 sales price. Additionally, an old favorite at 123 Fey Dr was relisted for $1895000.

Raw data available: burlingame831.csv

City of Colma

Two troubled properties left on B Street! They are 531 B St and 528 B St.

Additionally, 321 Hoffman St was listed in August for more than $130k below its last sale price.

City of Daly City

The number of troubled properties in Daly City is now 187, and that’s a decrease of 1 from last month.  Sales data shows that a lot of troubled properties were bought in July and quite a few went for over the asking price.  The biggest loser in August  by dollar amount is 310 A St.

Anyway, here’s the full data: dalycity831.csv

East Palo Alto

East Palo Alto didn’t receive very many new listings, and additionally a lot of listings went off market.  The total number of troubled homes is now 93, and that’s down from 103 since last month.   The biggest loser by far is 1175 Cypress St, which is down $401k since its last sale.

Raw data available: epa831.csv

More to come!

City of Pacifica

Pacifica is seeing quite a bit of price reductions. A good example is 340 Monterey, which has dropped its price by $50k every month for the last three month. That’s a deduction of $1.6k a day. For detailed information on all 42 properties you can look at the raw data: pacifica731.csv

City of Redwood City

The biggest loser in July for Redwood City goes to 559 Scott Ave. This home in the Dumbarton neighborhood is listing for $265k below its January 2007 sale price of $750k. Check out the full list of 65 troubled properties here: rwc731.csv

City of San Bruno

62 properties are available in San Bruno. I noticed that quite a few of the condos in the Shelter Creek address are selling because they’ve been priced fairly low. Most of the listings older than 2 months have been reduced. Take a look at the spreadsheet for details.

Raw data: sanbruno731.csv

City of San Carlos

The number of troubled sellers went down to 4 in San Carlos. The cheapest one is a condominium at 3354 Brittan Ave #9.

Raw data: sancarlos731.csv

City of San Mateo

San Mateo experienced more than two dozen price reductions and now the total number of troubled sellers grew to 85. There are troubled homes in all neighborhoods and the inventory is still growing. Take a look at the raw data for all homes.

Raw data: sanmateo731.csv

City of South San Francisco

Quite a few troubled properties actually sold in July for South City. Some notable properties include 404 Fairway Dr and 38 Northcrest Dr. Both of these properties sold for about $50k below asking. More details are available in the spreadsheet. There are a total of 103 troubled homes in this update.
Raw data: ssf731.csv

City of Woodside

855 Canada finally sold in July, but 5 Stadler Dr has cut its price by $77k in July and now it’s $27k below its 2005 sale price of $1.825 million.

Final Summary:

Atherton: 1

Belmont: 4

Brisbane: 5

Burlingame: 3

Colma: 2

Daly City: 188

East Palo Alto: 105

Foster City: 8

Coastside: 20

Hillsborough: 4

Menlo Park: 14

Millbrae:5

Pacifica: 42

Redwood City: 65

San Bruno: 62

San Carlos: 4

San Mateo: 86

South San Francisco: 103

Woodside: 1

Total: 722 properties in trouble

As you can see, the number of troubled properties did not increase dramatically. Some homes and condos are actually priced close to rent equivalent so people are snatching those up quickly. I think a lot of inventory is still being withheld by the banks that own foreclosures because not a lot of these are actually foreclosures. Anyway, this also correlates with the San Mateo Realtor Association’s data that sales went up and inventory is reduced. Overall, this is a good thing for the real estate market. However, we will have to see if this trend lasts.

City of East Palo Alto

In East Palo Alto it is really hard to find a listing that doesn’t belong to a home seller in trouble. I estimate that 90% of the listings on the market are foreclosures. Some notable additions in July include 1827 Stevens Ave, 1678 Purdue Ave, and 2231 Terra Villa St. All three of these homes lost up to 50% of their original value. A lot of properties went off the market so now the total is 105 troubled properties. This is not very different from last month.

Raw data available: epa731.csv

City of Foster City

Once again, all eight of Foster City’s troubled properties are townhouses and condominiums. A couple additions include 1024 Helm Ln and 42 E Court Ln. Both of these homes have been reduced into troubled territory.

Raw data available: fostercity731.csv

Coastside Properties – Half Moon Bay, Moss Beach, Montara, and El Granada

The amount of coastside properties did not change very much. As of 7/31, there are 15 troubled properties in Half Moon Bay, 3 in Moss Beach, and 2 in El Granada. A handful of listings went off the market and a couple of them sold.

Raw data available: coastside731.csv

City of Hillsborough

The mansion at 180 Robin Rd is still for sale for 950k under its 2001 price. Additionally, a couple more troubled sellers turned up. One listing at 15 Crystal TE Spgs is listed $1 under its 2004 price. The sellers of 2795 Summit Dr lowered its price by more than $500k and now it’s about $100k under its 2006 price. Finally, the sellers of 10 Crystal Springs Ter lowered their listing price by $400k in July so the property is now $600k below its last sale price in 2006. This property has the words “pending litigation” under the HOA information. I’m not quite sure what that means but it doesn’t sound nice.

City of Menlo Park

All 14 of the properties I found in Menlo Park are in East Menlo Park near East Palo Alto. I guess it’s not the best part of town.

Raw data available: menlo731.csv

City of Millbrae

Of the five properties in Millbrae, one standout property in Millbrae is 1116 Landing Ln. It went through a $250k pricecut in July. I think that qualifies as a HUGE price reduction.

Raw data available: millbrae731.csv

More to come!

City of Atherton

Atherton is still holding onto 199 Selby Ln. I wonder if the deal actually closed since it still says pending with release.

City of Belmont

On 7/31 only four listings are in trouble, and two of them are already pending. The newest addition is 300 Davey Glen Rd #3622. Another property of interest at 15 Kittie Ln has been withdrawn and now shows a new sale price on June 25th of $772124. That means it probably foreclosed officially and will come back on the market at a lower price.

Raw data available: belmont731.csv

City of Brisbane

This month, there are four condos listing for lower than their last selling price. They are: 632 Callippe Ct, 411 Callippe Ct, 233 Swallowtail Ct, & 115 Elfin Ct #U611

A newly reduced property is at 237 Kings Rd, and it’s now $2000 below its 2006 sale price. This brings the total troubled listings in Brisbane to 5.

City of Burlingame

Once again, we have three properties in Burlingame. The price has been reduced on 840 Newhall Rd in July so now it is at the same price as 2006. 912 Toyon Dr is now pending with release. 1657 Westmoor Rd is still active on the market after 80 days.

City of Colma

Two troubled properties left on B Street! They are 531 B St and 528 B St.

City of Daly City

Almost 50 new troubled listings from Daly City were posted in July. About 30 went off the market so we have a total of 188 listings still on the market. This is a net gain of 26 from last month. Some standouts include 92 Norwood, which is down $298k from its 2007 price, and 61 Chester St, which is somewhat worth buying considered that it’s priced at $149k. I guess when you price it low enough people will buy because 61 Chester St is already pending. It is down from its 2006 price of $360k. Another thing I noticed is that a lot of condos in Crown Colony are selling because they’re being priced under $200k. Considering that renting an one bedroom in Daly City costs anywhere around $1000 to $1400, these condos that are only $160k could actually be cheaper than renting.

Anyway, here’s the full data: dalycity731.csv

More to come!

City of San Bruno

San Bruno didn’t see a dramatic change in the number of troubled sellers, but there are over a dozen price reductions.   Notably, 3771 Elston Dr has been reduced $110k in June so now it is the biggest loser by dollar amount.  Check the raw data for all 63 properties.

Raw data: sanbruno630.csv

City of San Carlos

Sales are still quite brisk in San Carlos.  The number of troubled sellers went down  to 5.  One of these homes at 948 Cherry was reduced into troubled territory, but it is still quite expensive.

Raw data: sancarlos630.csv

City of San Mateo 

San Mateo  experienced more than two dozen price reductions and now the total number of troubled sellers grew to 85.   There are troubled homes in all neighborhoods and the inventory is still growing.  Take a look at the raw data for all homes.

Raw data:  sanmateo630.csv

City of South San Francisco 

The number of troubled sellers in South San Francisco grew to 101.  65 of these have pricecuts of more than $100k.

Raw data:  ssf630.csv

City of Woodside

The one short sale at 855 Canada is still pending.

Final Summary:

Atherton: 1

Belmont: 7

Brisbane: 3

Burlingame: 3

Colma: 3

Daly City: 162

East Palo Alto: 101

Foster City: 8

Coastside: 23

Hillsborough: 1

Menlo Park: 19

Millbrae: 6

Pacifica: 42

Redwood City: 66

San Bruno:  65

San Carlos: 5

San Mateo: 85

South San Francisco: 101

Woodside: 1

Total: 702 properties in trouble 

At this rate, we will have 1000 troubled properties in 2 months.  It seems that the sales rate of these properties is even lower than the non-troubled properties so being patient could snag you a good deal.  The next half of the year should be interesting to watch.

City of Atherton

Atherton is still holding onto 199 Selby Ln. I am curious to see what the final sales price is on this one.

City of Belmont

On 6/30 I found seven listings in Belmont that are technically in trouble. The newest one of these is 817 Covington.

Raw data available: belmont630.csv

City of Brisbane

Once again there are only three condos that are selling for under their last prices.

They are: 632 Callippe Ct, 233 Swallowtail Ct, & 115 Elfin Ct #U611

City of Burlingame

Burlingame has three troubled properties. They are: 27 Channing Rd, 912 Toyon Dr, and 1657 Westmoor Rd.

City of Colma

Three troubled properties left on B Street! 531 B St, 405 B St, and 528 B St.

City of Daly City

Apparently, I accidentally left out some homes in the last update for Daly City. Also, this month there were almost 40 new troubled listings and a few dozen price reductions. So now the total number of troubled properties in Daly City has grown to 162. Yup, it’s a lot of properties. Only a few properties sold since the last update and I wrote them on the datasheet.

Raw data available: dalycity630.csv

City of East Palo Alto

East Palo Alto is in a similar situation as Daly City. Very few homes are moving and more inventory is piling up. In this update there are 101 listings in trouble. The biggest loser is currently 2362 Poplar Ave, which is listing for $400k below its last sale price.

Raw data available: epa630.csv

City of Foster City 

All eight of Foster City’s troubled properties are condos.  The newest additions are 1041 Shell Blvd #3 and 1061 Beach Park Blvd #110.   The condo on 1061 Beach Park Blvd just had a price reduction today that pushed it into trouble territory.  Additionally, Foster City seems to have many properties that are listing 1 to 2% above their last sale price.

Raw data available:  fostercity630.csv

Part 2 will be coming soon. In my May update I didn’t include some of the unincorporated areas like La Honda and coastside cities such as Moss Beach. I will add them this time.

City of Atherton

Only one listing in Atherton, and that’s 199 Selby Ln. This one is supposedly pending with release now after being on the market for quite a while.

City of Belmont

Six listings total in Belmont that are selling for less than their last sale prices.

Raw data available: belmont531.csv

City of Brisbane

There are only three condos that are selling for under their last prices.

They are: 311 Swallowtail Ct, 233 Swallowtail Ct, & 115 Elfin Ct #U611

City of Burlingame

Four properties in Burlingame are listing below their last sale price. One of them has just been listed 11 days ago.

Raw data available: burlingame531.csv

City of Colma

It seems like every distressed property is on B Street. The four properties are listed below in the spreadsheet.

Raw data available: colma531.csv

City of Daly City

This is probably the city with the most inventory since there are 600+ listings in the area right now. 84 made the list and that is not so bad percentage wise.

Some highlights include 592 Abbot Ave, which has been on the market for 300+ days and suffered price cuts totaling 200k+. There is also 650 St. Francis Blvd, which is now under pending without release. It is more than 300k off its last sale price in 2005. Considering the pure glut of supply in Daly City I think prices will fall further there.

Raw data available: dalycity531.csv

City of East Palo Alto

Many homes in East Palo Alto are now foreclosures. Currently 87 properties are on the list. Many of these homes are 40 to 50% off or more. Granted, many of them are quite scary. The top loser currently in terms of dollar amount is 2737 Georgetown St which is now $380k off its last sale price. It seems like the bank that owns it is still aggressively slashing the price.

Raw data available: epa531.csv

City of Foster City

I think all of the 13 properties in Foster City are condos and townhouses. They are still overpriced and the general price cuts aren’t very huge.

Raw data available: fostercity531.csv

City of Half Moon Bay

Half Moon Bay also had 13 properties in trouble. Considering that there are only a total of around 70 properties. This is approximately 20%.

Raw data available: hmb531.csv

City of Hillsborough

The mansion at 180 Robin Rd is still for sale for 950k under its 2001 price. This is the only one I found in Hillsborough.

City of Menlo Park

There are 14 properties in the list, but I think some of the really hard hit parts are actually in North Fair Oaks, but the zip code is shared with Menlo.

Raw data available: menlo531.csv

City of Millbrae

Millbrae fared better than a lot of other cities in the area and only had 7 distressed properties. The biggest loser is 254 Barclay, which is now pending. It was last sold for 1.2 million in 2006 and is now listed at 850k.

Raw data available: millbrae531.csv

City of Pacifica

Pacifica currently has 37 listings that are lower than their last sale price. The most drastic haircut is on 397 Lynbrook. This home was just listed today and it’s $310k off its last price.

Raw data available: pacifica531.csv

City of Redwood City

Redwood City is also full of home sellers in trouble and weighs in with 73 properties. Quite a few of the biggest losers are in the zip code 94063 near the 101, but there are exceptions like this mansion at 668 Vista Ct. Redwood City has a little over 300 active listings so this is more than 20%.

Raw data available: rwc531.csv

City of San Bruno

This mostly industrial city has a lot of condos and some single family homes.  Today it has 61 home sellers in trouble.

Raw data available:  sanbruno531.csv

City of San Carlos

San Carlos is probably the most popular city in the Mid-Peninsula, and that’s probably why there are only 8 out of 110 properties that are in trouble. Still, these properties are quite expensive, and a few of them are right next to Caltrain. However, as the inventory piles up in this lovely little town the prices might go down in the future.

Raw data available: sancarlos531.csv

City of San Mateo

Most of the troubled homes in San Mateo are still in the Shoreview neighborhood, but there are some in the Beresford Park and downtown areas.

Current number of home sellers in trouble: 69

Longest days on market: 436 days - 369 Claremont

Raw data file: sanmateo531.csv.

City of South San Francisco

South City might be the winner for the city with most home sellers in trouble with a total of 89. It seems that a lot of the troubled homes are condominiums.

Raw data file: ssf531.csv

City of Woodside

The one short sale at 855 Canada is now supposedly pending without release. My friend who offered on this home said the bank took its sweet time in evaluating offers.

—

Lets add it all up, there are 575 home sellers in trouble!  These are just the listings on MLS and doesn’t include some of the for sale by owner or Craigslist listings.  In October 2007 I started this series and I scoured all of San Mateo county and found only 102 home sellers in trouble.   This means that in less than 8 months the number of home sellers in trouble rose 463%!!  A lot of these home sellers fell into trouble because they initially listed their homes for too much.  Then a lot of homes foreclosed this year and further pushed down the price.  As you can see the popular areas like Belmont and San Carlos are still faring pretty well, but as inventory gathers up, they may not be invulnerable.  In October I said that that was just the beginning of the fall, and now I have to say that I think we are nowhere near the end.  It will take time for buyers to absorb all of this inventory, and more REOs may come on the market during this time.  For the most part, I still think that a lot of areas are very overvalued.  For example, my area of Redwood City is still averaging $570+ per square foot, and that is quite ridiculous.  Until next time, be careful before you plunge into the real estate market!