UPDATE - Well, I think the owners of 24 Moonlight have started to realize the brutal truth. They've just lowered their asking price to $599k. At this point, they clearly have an advantage over 28 Moonlight, since 24 is not a short sale.
A quick look for other 3/2 w/1500+ sf, shows there are several listed for under $600k. The problem is, most are short sales, so it's debatable whether or not you could actually close at the listing price. Also, 24 Moonlight actually looks like a nicer place than most of the others. So maybe it's the lowest listed, but I still wouldn't buy. Things are dropping in this area. San Mateo county may be the last place in America that hasn't dropped too far, but it's moving down.
Original post -
The owners of 24 Moonlight Court bought their place in 1996 for $289k. And they're hoping to sell for $738k in 2008. Unfortunately, they have a neighbor that bought in 2005, paid $700k and put $0 down. Looks like those neighbors will be setting the comp, as these places look pretty darn similar. How low will #28 go?
24 MOONLIGHT CT, South San Francisco, CA 94080
asking $738,000
28 MOONLIGHT ST, South San Francisco, CA 94080
asking $589,000
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