San Mateo Home Sellers in Trouble #9 - 12/17/2007 to 1/13/2008

Since I was on vacation during the last week of December I decided to combine the two reports into a report of the last four weeks. Not that many new listings came up in the last two weeks of December because a lot of realtors and sellers are on vacation also. So here is a summary of the last four weeks:

Total Count of San Mateo Home Sellers in Trouble for 12/17/2007 to 1/13/2007: 82

Average Time from Last Sale Date: 1.30 Years

Average Annualized Loss: 18.0%

Average Size of Home: 1198

Average Price Per Square Foot: $494

Biggest Loser: 2529 Fordham St, East Palo Alto with an annualized loss of 89%

What is interesting is that 37 out of these 82 troubled properties were listed within the past seven days! Some more properties of interest are below:

15 Kittie Ln, Belmont — This is a good sized Belmont ranch that was last sold for 1.2 million in October, 2006, and is now listed for just under 1 million. Personally I still think it’s overpriced, but in Belmont

701 6th Ave, Redwood City — It smells a little fishy that this tiny and unattractive home last sold for 715k and is now listed for 488.5k. I don’t think it’s a great bargain, but it is the home with the largest absolute percentage loss on the list.

512 Stanford Ave, Redwood City – The Redfin listing says that the home’s square footage is 2500, but the description says it’s great for a first time buyer. That made me kind of suspicious and I looked it up on real-estate.nextag.com, and there it stated the home is actually only 820 square feet. Now a 820 square foot starter home is more believable.

406 Accacia St, Daly City — In a previous report I found the picture of 404 Accacia St extremely funny, and now it seems like its next door neighbor is up for sale. Here are the pictures of these two houses:

633 Hampshire Ave, Redwood City — Finally, this “house” wins the award for the ugliest home in the this report:

The detailed report will be on the statistics page and a new update of homes listed in late October to early November last year will also be included. Stay tuned!

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