360 HEDGE Rd Menlo Park, CA 94025
Price: $1,248,000
Beds: 3
Baths: 2
Sq. Ft.: 1,260
$/Sq. Ft.: $990
Hmmmm. Was looking at 251 Hedge, after reading http://650life.wordpress.com/, but when looking for comps I noticed 360 Hedge Road. Last sold for $1,119,000 in 2005. They took out 3 loans to make the purchase...
Lender # 1 Wells Fargo Bank
Loan amount # 1 $895,200
Rate type # 1 Variable
Lender # 2 Abbott Laboratories Emp Cu
Loan amount # 2 $50,000
Rate type # 2 Fixed
Lender # 3 Wells Fargo Bank
Loan amount # 3 $117,850
Rate type # 3 Fixed
That adds up to $1,063,050. So the buyer put down $55,950. Wait... can that be right? Put down $56k and get a nice house in Menlo Park?
Tuesday, August 19, 2008
Monday, August 18, 2008
Huge court case - Wells Fargo pays $1.25 Million
I need to read more about the case, but can you imagine what would happen if all the borrowers in this situation followed suit... and won?
http://www.bizjournals.com/washington/stories/2008/08/18/story18.html?ana=from_rss
A Silver Spring woman who defaulted on a subprime loan has been awarded $1.25 million in damages from her lender, Wells Fargo Bank N.A. The borrower, Kimberly Thomas, was awarded $250,000 in damages and $1 million in punitive damages in Montgomery County Circuit Court July 31. A six-member jury convicted Wells Fargo of fraud, negligence and other charges for inflating Thomas’ income and assets on her mortgage application, and locking her into a bigger loan than she had applied for — one she couldn’t afford.
http://www.bizjournals.com/washington/stories/2008/08/18/story18.html?ana=from_rss
A Silver Spring woman who defaulted on a subprime loan has been awarded $1.25 million in damages from her lender, Wells Fargo Bank N.A. The borrower, Kimberly Thomas, was awarded $250,000 in damages and $1 million in punitive damages in Montgomery County Circuit Court July 31. A six-member jury convicted Wells Fargo of fraud, negligence and other charges for inflating Thomas’ income and assets on her mortgage application, and locking her into a bigger loan than she had applied for — one she couldn’t afford.
Wednesday, August 13, 2008
Someone's in denial.
Shoreview home at 1234 Cobb listed for $699k. 3/1, 1000sf. Ha! Unless there's something really special about this house (or it's really 2005 and my calendar is wrong). Can't wait to see where this one goes.
Similar listings in this neighborhood (all 3+ bedrooms) start at $448k. And from there to $700k there are 36 listings! Plenty of bigger homes and better looking too. How did the agent let this person list for $699k?
1234 COBB St
San Mateo, CA 94401
Price: $699,000
Beds: 3
Baths: 1
Sq. Ft.: 1,000
$/Sq. Ft.: $699
Lot Size: 5,500 Sq. Ft.
Age (Years): 55
Year Built: 1953
Type: Detached Single Family
Style: Ranch
Stories: 1 Story
View(s): Neighborhood
Neighborhood: South Shoreview
County: San Mateo
MLS#: 80825722
Source: MLSListings
Status: Active
On Redfin: 10 days
Similar listings in this neighborhood (all 3+ bedrooms) start at $448k. And from there to $700k there are 36 listings! Plenty of bigger homes and better looking too. How did the agent let this person list for $699k?
1234 COBB St
San Mateo, CA 94401
Price: $699,000
Beds: 3
Baths: 1
Sq. Ft.: 1,000
$/Sq. Ft.: $699
Lot Size: 5,500 Sq. Ft.
Age (Years): 55
Year Built: 1953
Type: Detached Single Family
Style: Ranch
Stories: 1 Story
View(s): Neighborhood
Neighborhood: South Shoreview
County: San Mateo
MLS#: 80825722
Source: MLSListings
Status: Active
On Redfin: 10 days
Monday, August 11, 2008
100% financed in RWC
518 King St, Redwood City
518 KING St Redwood City, CA 94062
Price: $1,075,000
Beds: 3
Baths: 2
Sq. Ft.: 1,500
$/Sq. Ft.: $717
Lot Size: 6,500 Sq. Ft.
Really nice home. Bought in 2005 w/0% down. Now trying to sell for $100k more. Wonder if they have any equity. Wonder if they had a pay option loan. We'll wait and see where this one goes.
Any other similar houses nearby?
518 HUDSON St Redwood City, CA 94062
Price: $949,000
Beds: 3
Baths: 2
Sq. Ft.: 1,550
$/Sq. Ft.: $612
Lot Size: 6,500 Sq. Ft.
These owners paid $875k in 2004. They put down $200k, but are carrying a $680k ARM. On the market for 4 months so far and they've only dropped the price $20k.
Nothing else in the neighborhood seems to be as nice as these 2 that is still in this price range.
518 KING St Redwood City, CA 94062
Price: $1,075,000
Beds: 3
Baths: 2
Sq. Ft.: 1,500
$/Sq. Ft.: $717
Lot Size: 6,500 Sq. Ft.
Really nice home. Bought in 2005 w/0% down. Now trying to sell for $100k more. Wonder if they have any equity. Wonder if they had a pay option loan. We'll wait and see where this one goes.
Any other similar houses nearby?
518 HUDSON St Redwood City, CA 94062
Price: $949,000
Beds: 3
Baths: 2
Sq. Ft.: 1,550
$/Sq. Ft.: $612
Lot Size: 6,500 Sq. Ft.
These owners paid $875k in 2004. They put down $200k, but are carrying a $680k ARM. On the market for 4 months so far and they've only dropped the price $20k.
Nothing else in the neighborhood seems to be as nice as these 2 that is still in this price range.
Tuesday, August 5, 2008
Stunned.
I am stunned. This listing just popped up, and I'm really surprised. Granted it's right on the train tracks, but still - it's Burlingame. I'm surprised the price is so low.
No sales are listed on any sites I see... but the foreclosure was on 6/24/2008 for $935,420.
1025 TOYON Dr Burlingame, CA 94010
Price: $649,900
Beds: 3
Baths: 2
Sq. Ft.: 1,970
$/Sq. Ft.: $330
Lot Size: 6,400 Sq. Ft.
http://www.redfin.com/CA/Burlingame/1025-TOYON-Dr-94010/home/2014036
FANTASTIC PRICE AND OPPORTUNITY IN BURLINGAME! Large 1,970 sq. ft. 3 bedroom 2 bath home, located on a 6,400 sq. ft. corner lot. Updated kitchen. Hardwood floors. Separate dining room. Spacious family room. Extra bonus room. Don't miss out on this Burlingame opportunity!
Looking around for other homes, and the closest I see is ...
929 LARKSPUR Dr Burlingame, CA 94010
Price: $799,888
Beds: 2
Baths: 1
Sq. Ft.: 950
$/Sq. Ft.: $842
Lot Size: 5,000 Sq. Ft.
929 Larkspur is in much better condition, but it's priced at $150k more. You can do a lot of fixing with the $150k. Not to mention the difference in square footage. There may be other differences as I don't know this neighborhood well... but you have to imagine that the owners on Larkspur can't be too happy about this new listing. We'll keep an eye on it...
No sales are listed on any sites I see... but the foreclosure was on 6/24/2008 for $935,420.
1025 TOYON Dr Burlingame, CA 94010
Price: $649,900
Beds: 3
Baths: 2
Sq. Ft.: 1,970
$/Sq. Ft.: $330
Lot Size: 6,400 Sq. Ft.
http://www.redfin.com/CA/Burlingame/1025-TOYON-Dr-94010/home/2014036
FANTASTIC PRICE AND OPPORTUNITY IN BURLINGAME! Large 1,970 sq. ft. 3 bedroom 2 bath home, located on a 6,400 sq. ft. corner lot. Updated kitchen. Hardwood floors. Separate dining room. Spacious family room. Extra bonus room. Don't miss out on this Burlingame opportunity!
Looking around for other homes, and the closest I see is ...
929 LARKSPUR Dr Burlingame, CA 94010
Price: $799,888
Beds: 2
Baths: 1
Sq. Ft.: 950
$/Sq. Ft.: $842
Lot Size: 5,000 Sq. Ft.
929 Larkspur is in much better condition, but it's priced at $150k more. You can do a lot of fixing with the $150k. Not to mention the difference in square footage. There may be other differences as I don't know this neighborhood well... but you have to imagine that the owners on Larkspur can't be too happy about this new listing. We'll keep an eye on it...
Subscribe to:
Posts (Atom)