Under 600k - 3b/2b (or bigger) in San Mateo

All of these homes are in San Mateo, just east of 101, between 3rd Ave and 92.
All have at least 3b/2b. Basically they are selling for $100,000 - $300,000 less than they sold for in 2005 or 2006.

525k - 1464 HEMLOCK AVE - 3/2 1420sf. 15 DOM.
529k - 2034 POLK AVE - 3/2 1300sf. 107 DOM.
539k - 948 DAISY ST - 3/2 - 1170sf. 1 DOM. REO.
548k - 1436 DIX ST - 3/2 1040sf. 21 DOM. Pre-foreclosure.
549k - 1516 S NORFOLK ST - 3/2 1040sf. 130 DOM.
550k - 1719 KEHOE AVE - 3/2.5 1080sf. 41 DOM. Short Sale.
559k - 1680 TAYLOR ST - 3/2 1220sf. 93 DOM. Short sale.
579k - 1864 COTTAGE GROVE AVE - 6/2 1220sf. 34 DOM.
585k - 1603 ECHO AVE - 3/2 1080sf. 13 DOM. Short Sale.
585k - 1627 ECHO AVE - 3/2 1010sf. 64 DOM. Short Sale.
595k - 1610 NOE AVE - 3/2 1080sf. 46 DOM.
599k - 1703 KEHOE AVE - 3/2 1080sf. 160 DOM.
599k - 1656 VAN BUREN ST - 3/2 1300sf. 104 DOM.
599k - 1326 NEWBRIDGE AVE - 5/2 - 1650sf. 46 DOM.

So maybe you could get 2034 Polk for $500k. 20% down, means your mortgage at 6% is $2400/mo. Taxes were 6k last year, so that's another $500 per month. Then add in $100/mo for insurance.

So for 100k down and 3,000 per month, this home could be yours. Of course, if I were you, I'd wait a little while. This house has been listed for 107 days, and the asking price has dropped from $635k to $529k.

The current seller bought it in 2003 with 80/20 financing, and the 80% is an ARM. Wonder if it was a 5/1? Maybe they just got their adjustment?

Pre-foreclosure in San Mateo

240 RAMONA ST, San Mateo, CA 94401

Space is what matters in this 4 bedroom & 2 bathrooms home. Updated & spacious kitchen w/ tile. Nicely landscaped with mature trees. Huge laundry room could be used as a 5th bedroom. Walking distance to downtown. Close to public transportation and more.. Property is in a pre-foreclosure status.. Best deal in this school district.. Why rent when you can afford this starter home?


Bedrooms: 4
Full Baths: 2
Partial Baths: 0
Square Feet: 1,400
Lot Size: 4,092 Sq. Ft.
Year Built: 1907
Listing Date: 02/28/08
On Market: 61 days
Type: SFR
Status: ACTIVE
MLS #: 781087

Price Reduced: 04/03/08 -- $609,900 to $549,000
Price Reduced: 04/07/08 -- $549,000 to $529,000
Price Reduced: 04/19/08 -- $529,000 to $499,000

Pierce Street

I've driven down this street, and I really can't imagine anyone would pay $700k to live there, but i guess I'm wrong.

1748 PIERCE ST SAN MATEO, CA 94403
May 13, 2004 $715,000
Mar 06, 2008 $549,103
Apr 02, 2008 $699,000

From Property Shark - This was an REO on 3/5/08
Date Amount Type Transaction 1st party 2nd party Event ID
4/2/2008 $699,000 Grant Deed Resale Rosenbledt Trust Joe, Koman 696806501
3/6/2008 $549,103 Trustee's Deed upon Sale Resale Executive Trustee Services LLC Rosenbledt Trust 690173274
5/13/2004 $715,000 Grant Deed Resale Labelle, Tr Mendez, Monica & Jose Luis 255801365
5/13/2004 Grant Deed Resale Demendez, Angelica Mendez, Jose L 255805375
12/15/2003 Resale La Belle, Tr La Belle, Tr 255802113

It'll be interesting to see if the buyer keeps it and lives there are tries to flip it or something.

763 BARNEGAT LN, Redwood Shores, CA 94065

Asking $499,999
Last sale - 11/14/03 - $436,000

Water views! Beautiful 1 bedroom 1 bath with large loft that can be second bedroom or office. Vaulted ceilings, updated bath & kitchen. A must see!

But they refi'd according to Prop Shark
Event date 9/14/2005
1st party Kiresh,Majdi
2nd party Kiresh,Suzi
Owner address 763 Barnegat Ln
Lender # 1 Popular Financial Services LLC
Loan amount # 1 $570,000
Rate type # 1 Variable

And now they're trying to sell.

708 OCEAN VIEW AVE, San Mateo, CA 94401

Another attempted fix and flip. Extensively remodeled. Will this one work out?

Asking - $689k
Last sale - $500k - 01/09/08

Description
Low traffic street. Extensive remodel. 4 bdrm (1 bdrm has a closet but no exgress) 2 bath, large family room, dining room, + den + living room w/wood burn stove encased by a wall size mantel & built-in shelving. Sliding doors to large backyard. Remod. Kitchen w/warm cherry cabinets, granite counters, stainless steel appliances, refrigerator included. Lots of light!Close to hwy 101/ shopping.

477 TOPAZ ST Redwood City, CA 94062

Price: $585,000

Listing Price History
Date Price Apr 03, 2008 $625,000
Apr 24, 2008 $585,000

Sales History
Mar 18, 2005 $550,000 ( $400k Variable rate mortgage)



Beds: 2
Baths: 1
Sq. Ft.: 700
$/Sq. Ft.: $836
Lot Size: 2,625 Sq. Ft.
Age (Years): 56
Year Built: 1952
Type: Detached Single Family
Style: Traditional
Stories: 1 Story
View(s): Neighborhood
Neighborhood: High School Acres Etc.
County: San Mateo
MLS#: 789092
Status: Active
On Redfin: 24 days

Charming cottage is move-in ready. This well-maintained home is absolutely spotless with many updates throughout. Fully remodeled kitchen has granite counters and custom tile; all stainless appliances with gas stove, microwave, dish washer and refrigerator. Furnace is 2 years old and water heater is 1 year old. Front and back yards are gorgeous. Dual-paned windows throughout. Price reduced to sell.

131 W 3rd Ave, San Mateo - REO

1b/1b Bank Owned - Walk to Downtown San Mateo


$499900 Luxury "Baywood Place" Condo! (san mateo) (map)
Reply to: hous-658159898@craigslist.org
Date: 2008-04-27, 9:19AM PDT


This luxury Condo is Situated on the Hillsborough/San Mateo Border!

This lovely home features the following amenities:

1 Master Bedroom Suite
1 Master Bath w/ Marble
Spacious Living/Dining/Kitchen
Top Appliances/Hardwood Floors
In-Unit Laundry
Amazing Garden Setting
2 Car Parking/Huge Storage Area
Low Dues!
This is a "Bank Owned" property and is an easy transaction.
This home is just moments from the new state of the art library, concerts in the park, fine dining, shopping and theaters

For more information:

Phyllis McArthur - Realtor DRE# 01303020
Cashin Company Realtors
(650)315-8904

or log onto website: https://www.phyllisfindshomes.com




131 W 3rd Ave google map yahoo map

Small homes in RWC - West of El Camino

=====================================
1180 DAVIS ST, Redwood City, CA 94061

2b/2b - 680sf
REO, Listed - $394,900
Last sale - $460k in 04/2004 (Financed 100% and variable)
Went back to bank for $450k in 12/2007.

The sale in 2004 should never have happened. How many more homes were sold like this? 0 Down? Variable rate loan? Wow. What is this going to sell for now? And how long will it take?

=====================================
436 JACKSON AV, Redwood City, CA 94061

2b/1b - 910sf
Listed at $399k (was $499k - DOM=180)
Last sale - $630k in 04/2007

=====================================
1115 DAVIS ST, Redwood City, CA 94061

2b/1b - 930sf
Listed at $449k (DOM = 215 days)
Price Reduced: 11/09/07 -- $599,000 to $549,000
Price Reduced: 03/19/08 -- $549,000 to $499,000
Price Reduced: 04/25/08 -- $499,000 to $449,000
update - Price Reduced: 05/05/08 -- $449,000 to $399,000

Last sale was $585k in 09/2006. No mortgage info on Property Shark, but based on the price reductions, this person wants to sell. Though... it's been on the market for 200+ days so what's going on?

830 ALAMEDA DE LAS PULGAS, Belmont, CA 94002

Last Sale: 11/30/05
Sales Price: $1,200,000

List Price: $980,000

Description
Choice haskins estates area. 2 homes on one lot. Front unit#1 split level - 2 bedrooms 1 bath. Back unit 2 story, #2 - 2 bedrooms 1 bath + bonus room and bath downstairs. Both tenant occupied. Subject to tenants' rights.

Event date 11/30/2005
Sale amount $1,200,000
1st party Bhat,Farooq
2nd party Chapman,Robinie B
Owner address 6760 Mission St
Daly City, CA
94014
Ownership status SE
Lender # 1 Countrywide Home Loans Inc
Loan amount # 1 $960,000
Rate type # 1 Variable
Lender # 2 Countrywide Home Loans Inc
Loan amount # 2 $120,000
Rate type # 2 Variable

Ouch.

Motivated Seller in Burlingame

1b/1b
List Price - $565k

Bought for $485k in 2005 with $0 down, this seller is motivated and probably just trying to get out. I think Burlingame has held its value so far, so my guess is that this seller will be fine (unless it was a pay-option mortgage maybe...)

Sale amount $485,000
1st party Guellert,Thomas E
2nd party Sweis,Joseph N
Owner address 530 El Camino Real
Burlingame, CA
94010
Lender # 1 Cit Group/Consumer Finance Inc
Loan amount # 1 $388,000
Rate type # 1 Variable
Lender # 2 Cit Group/Consumer Finance Inc
Loan amount # 2 $97,000
Rate type # 2 Fixed

This is the opportunity of a life time!

According to the description anyway. But I doubt it.

1516 S NORFOLK ST, San Mateo, CA 94401
http://www.redfin.com/stingray/do/printable-listing?listing-id=1357941

Description
Big price reduction! Wonderful home with white picket fence; 3 bedrooms, 2 baths and plenty of upgrades! 1 year old roof, most dual pane windows, newer copper pipes, harwood floors under carpets and more. Beautifully landscaped and located in a great neighborhood, close to parks, shops, good schools and transportation. This is the opportunity of a life time!

ZipRealty Price Track:
Price Reduced: 01/10/08 -- $680,000 to $629,000
Price Reduced: 01/19/08 -- $629,000 to $585,000
Price Reduced: 02/25/08 -- $585,000 to $549,000

From Property Shark -
Lender # 1 Argent Mortgage Co LLC
Loan amount # 1 $448,000
Loan type # 1 Conventional
Rate type # 1 Variable
Lender # 2 Master Financial Inc
Loan amount # 2 $112,000
Loan type # 2 Conventional
Rate type # 2 Fixed

3354 BRITTAN AVE #9, San Carlos, CA 94070

Another good place to watch to see what's really going on on the Peninsula. This 2b/2b in Brittan Heights has been on sale for 5 months or so. Listed at $549k originally, now asking $449. Why the dramatic drop? Because the owner bought this place with 100% financing in 2005. Why else?

From Propert Shark -
====================
Event date 5/12/2005
Sale amount $510,000
1st party Vahdat,Behjat
2nd party Aguila,Joan
Owner address 3354 Brittan Ave
San Carlos, CA
94070
Lender # 1 Opteum Fin'l Svcs LLC
Loan amount # 1 $408,000
Rate type # 1 Variable
Lender # 2 Opteum Fin'l Svcs LLC
Loan amount # 2 $102,000
Rate type # 2 Fixed

What other 2b/2b's are for sale on Brittan Ave in San Carlos?
=============================================================

3378 BRITTAN AVE #10 - $570,000 DOM - 28
3347 BRITTAN AVE #2 - $585,000 DOM - 10
3375 BRITTAN AVE #3 - $615,000 DOM - 14

And some 3b/2b -
================

3317 BRITTAN AVE #1 - $597,856 DOM - 1
3317 BRITTAN AVE #7 - $617,950 DOM - 70
3335 BRITTAN AVE #1 - $640,000 DOM - 20

And 2b/2b more on La Mesa
==========================
3348 LA MESA DR #2 - $569,950
3348 LA MESA DR #8 - $589,000

Fix and Flip attempt

708 Ocean View Ave
San Mateo, CA 94401

Bought on - 1/9/2008 $500,000
Remodeled and listed for $710,000

Will it work? There haven't been too many sales in this neighborhood in the last 3 months. I don't think this house will go for over 700k... let's look for some comps... OK, nothing exactly the same, but the following 2 homes are not too far off... and neither has sold very quickly. I think this neighborhood is going to be hurting badly this year. I don't see too many sales happening, and anything bought during 2005-2006 that is now on sale again... is taking a big loss.

964 Anna St.
asking $695k (Sold 06/30/2006: $825,000)
6b/2b
1620sf
DOM - 120

725 Ada St
asking $625k
4b/2b
1460sf
DOM - 241

1326 NEWBRIDGE AV, San Mateo, CA

Asking $600k, last sold for $809k in 2006.

From craigslist...

$599000 Price Reduced: Open House Sat and Sun: 5beds/ 2 baths (san mateo) (map)
Reply to: hous-648359161@craigslist.org
Date: 2008-04-19, 10:37AM PDT

1326 NEWBRIDGE AV
San Mateo (San Mateo) 94401
Detached Single Family (Class 1)

Bed/Bath: 5 / 2
SqFt: 1,650
Lot: 6,834 sq ft
Age: 58 years
List Price: $599,000
Assoc Fee:

289 Bay Ridge, Daly City - SHORT SALE

The Bay area is a crazy real estate market. Look at this home... sold for $920k on 8/10/07. Now for sale again and asking what? Who knows. Brochure photo doesn't even have a price as far as I can see... but it clearly says SHORT SALE.

And then just a couple doors down... an identical home for sale...??
285 BAY RIDGE DR, Daly City, CA 9401
List Price: $996,000
Last sold - 01/16/04 - Sales Price: $735,888

94 Grand, Redwood City

Well... 94 Grand was on our watchlist for a while. I just noticed that the listing went INACTIVE, so I looked it up and guess what? It's go to be sold on the Court House steps on 5/14. Well, that's the current plan. These seem to get postponed/delayed all the time, so it'll be interesting to watch.


Address: 94 Grand Street

City: REDWOOD CITY
State: CA
Zip: 94062
County: San Mateo
APN: 052-131-100
Sale Status: Postponed to 05/14/2008 1:00 pm
(Mutual Agreement)
TS Number: 05FEE47003
Notice of Sale Amt: $798,311.00
Opening Bid Amt: 0
Sold Amt: 0
Sale Location: At the Marshall Street entrance to the Hall of Justice and Records, 400 County Center, Redwood City, CA.

Trustee: Regional Trustee Services Corp.
Trustee Phone#: (206)340-2550

1978 SAN CARLOS AVE

For sale - asking $800k. (dropped price from $900k on market for 2 months)
Last sale - Dec 12, 2003 $599,000

More homes to watch...

1009 CROCKER AV, Daly City, CA 94014
$990K

365 OLD COUNTY RD San Carlos, 94070
$650,000

1436 DIX ST San Mateo, 94401
$548,888

699 SYLVAN ST, Daly City, CA 94014
$900K

1719 KEHOE AV, San Mateo, CA 94401
$550K

225 Avalon Dr
o For Sale: $450,000
211 Avalon Dr
o For Sale: $629,000

Follow-up 42 BISMARK ST, Daly City, CA 94014

42 BISMARK ST, Daly City, CA 94014

First mentioned in March, this listing has lowered the asking price by $100k since I last looked. Wonder when the next drop in asking price will be...

http://cracksinthepeninsula.blogspot.com/2008/03/things-that-caught-my-eye-today.html

Attempted Foreclosure Remodel and Flip

96 BUCKINGHAM AV, Redwood City, CA 94063



What do we have here. Looks like this house went into foreclosure and went back to the back for $526k on 3/13/07. Someone then bought it for $400k on 8/21/07. The new owner fixed it up according to the description -

Completely remodeled. Open kitchen with granite counters and stainless appliances. Kitchen overlooks dining area and living room. Remodeled bathrooms. Convenient inside laundry area. Detached 2-car garage. Nice lawn and deck. This is not a short sale!

Let's keep an eye on this one and see how this flip turns out...

Biggest drop on the peninsula

Current winner for this category -
1656 VAN BUREN ST, San Mateo, CA 94403

Listed for $599k, this house sold for $900k in 2005!
Description
Nice starter home in san mateo's parkside district. Private fenced-in front & backyard. Newer kitchen cabinets+granite countertops. French door double-pane windows. Walking distance to parkside elem school and transportation.

Bad pictures....

Wow. What happened here?

Will be interesting to see how this listing lingers. Last sold for $675k in 2006. Currently asking $450k.

1903 MADISON AVE, Redwood City, CA 94061

Asking $749,500
Last Sold - 09/22/05 for $870,000

Price Reduced: 02/12/08 -- $896,700 to $845,000
Price Reduced: 02/27/08 -- $845,000 to $799,950
Price Reduced: 03/13/08 -- $799,950 to $749,500

Where is this one going to go?