Saturday, April 26, 2008

Small homes in RWC - West of El Camino

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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?

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436 JACKSON AV, Redwood City, CA 94061

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

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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?

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