Archive for June, 2007
June 29, 2007
I couldn’t find any price reductions in Berkeley this week. That doesn’t mean there aren’t any, just that they stayed under the radar for some reason.
In Oakland, however, there are a handful to report:
* Claremont Pines — 5/4 Colonial style house at 5831 Acacia Avenue (pictured above). New price of $1,795,000. Gene Boomer, Prudential. (There are three homes currently for sale on Claremont Pines - what’s that about?)
* 2/2 condo with parking and views at 1 Lakeside (pictured above). Price reduced to $599,000.
* Townhome style condos and flats at 1511 Jefferson in downtown Oakland. Prices lowered to mid-$300,000s. www.liveatjade.com
* 3/2+ home on “Piedmont side of Montclair” at 5885 Harbord Drive. New price of $1,025,000.
* 5/3+ family home in Rockridge at 6693 Chabot Road (which is directly opposite Chabot elementary school). Newly priced at $1,260,000.
June 29, 2007
Planned for late summer completion, Marburg Place by Taylor Woodrow features 2 and 3 story floor plans with up to 1948 square feet in a four bedroom model! No more does living in a town home mean you have to be cramped for space.
These units start at $572,900 and have a 3% broker cooperation deal in place. All plans include 2 car garages on the ground level, and have private master bedroom suites. Pictures of the homes show attention to detail, from stair railings to trim. The floor plans appear logically laid out, with large storage areas for convenience.
These homes are close to Caltrain, the Light Rail, highway 101, and downtown San Jose attractions such as the HP Pavilion.
June 29, 2007
When a homeowner stops making payments on their mortgage loan the lender is left with no other choice but to begin a foreclosure action. Nowadays they can’t always afford to take back all those homes. It’s too expensive to hold them, repair them and then try to sell them. That’s where a Short Sale comes in. One of the options lenders are using today is to help the borrower sell the home by forgiving a portion of the loan balance. Lenders will often allow a home to be sold for less than the amount still owing on the mortgage loan. It’s called a pre-foreclosure Short Sale.
Pre-foreclosure Short Sale Package:
The reason a lender requires a Short Sale package is to determine answers to the following three questions:
1. Does the homeowner truly deserve a Short Sale?
2. Is it in the Lender’s best interest to allow a Short Sale or foreclose and sell the house through a realtor?
3. Are there any hidden factors that might cause the lender to lose money if they foreclosed on the home?
The lender will always want to verify that the seller truly can’t make the house payments before they will consider a Short Sale. Before a lender will decide to accept a pre-foreclosure Short Sale they will take a detailed look at comparable home values, repair costs, realtor commissions, and holding costs. Some of the factors that will affect a pre-foreclosure investor’s opportunity to arrange a Short Sale are:
1. How many properties does the lender currently have in default?
2. How flexible is the corporation that made the loan?
3. Is a third party servicing the loan?
4. What is present policy of the loss mitigation department with which you are dealing?
Don’t expect a lender to accept a discount just because it sounds good to you. If the lender thinks they will get a higher payoff by taking back the house, the lender will turn you down. There are certain things you must do to make the lender understand that a pre-foreclosure Short Sale is their best option. With the proper Short Sale package a lender may take a discount of between 50% and 80% of what is still owed on the mortgage loan. For example, that means you may be able to buy a $100,000 home for $70,000 — an immediate profit of $30,000.
June 29, 2007
Recently I had company visiting from Pennsylvania and given that children were involved, we made a trip up the Peninsula to the San Francisco Zoo. After spending the day, we didn’t want to head home in commute traffic, so we hit Highway 1. As we toodled along, approaching the Cliff House, I imagined what it would be like to live across from this stretch of beach, to hear the ocean every night as you fall asleep, to take long walks in the sand, to live along such a scenic route. Of course the cold reality hit…lots of fog, blowing sand, and annoying tourists holding up traffic. But when I saw this favorite on our Daily Stats, I had to think again, and how can you not, the view is breathtaking. This particular listing is located at 825 La Playa, Unit 228: a 948 square foot condo with one bedroom and one bath priced at $549,000. The rooms are more than spacious, and there is a fireplace to keep you warm on those cold, foggy nights. One can dream, can’t one?
Recent Sales in this building and on this block:
825 La Playa #121, 2/2, 1184 sf, $540,000 (5/18/20007)
825 La Playa #127: 1/1, 705 sf, $435,000 (2/2/2007)
855 La Playa #253: 2/2, 143sf, $600,000 (12/21/2006)
875 La Playa #281: 2/1, 1029 sf, $573,000 (9/11/06)
Recent Sweet Digs Bay Area Posts:
Mid-Peninsula Open Homes June30/July 1
Looking for Land and Lots of it?
Bungalow Kitchen Book
Belmont: Brand New Listings
Great Deals From Craiglist: Not on the MLS
SF: Open Homes this Weekend 700K and Under
Berkeley: Price No Object On This House
June 28, 2007
Inventory is ramping up now that schools are out. There are currently 48 homes listed for sale in Belmont and 63 in San Carlos. Redwood City has the largest inventory, with 194 total (76 with 2 or less bedrooms, 64 with 3 bedrooms, and 54 with 4 or more bedrooms). Here are some of this weekend’s open houses for you to visit:
San Carlos
3337 Brittan Ave #7, 1040 sf, 2/2, $620,000
Open Sat 1-4 pm Sun 1:30 - 4:30
3332 Brittan Ave #6, 1239 sf, 3/2, $620,000
Open: Sat/Sun 1-4 pm
2452 San Carlos Ave, 1210 sf, 2/1, $725,000
Open: Sat 1-4:30 pm Sun 1-4:30 pm
406 Portofino Dr #4, 1603 sf, 3/2, $805,000
Open: Sat 1-4 pm Sun 1:30-4:00
I love these townhomes - open, airy, great entertainment space
427 Ridge Rd, 2190 sf, 3/2, $1,295,000
Open: Sat 1-4 pm Sun 1-4 pm
Back on the market
55 Sequoia Ct, 2610 sf, 4/2.5, $1,398,000
Open: Sat/Sun 1:30-4:30 pm
Belmont
200 Live Oak Way #203, 1379 sf, 2/2.5, $725,000
Open: Sat 1-4 pm Sun 2-4 pm
102 Farallon Drive, 1379 sf, 2/2.5, $839,516
Open Sat 1-4 pm Sun 1:30-4:30 pm
Tie for quirky price of the week
900 Live Oak Way #901, 1451 sf, 2/2.5, $779,000
Open: Sat 1-4 pm Sum 1:30-4:30 pm
1702 Ralston Ave, 1190 sf, 3/1, $835,000
Open: Sat/Sun 1-4 pm
120 Farallon Dr, 1770 sf, 3/2.5, $898,516
Open Sat 1-4 pm Sun 1:30-4:30 pm
Tie for quirky price of the week
337 Middle Road, 2160 sf, 3/2.5, $899,000
Open Sat 1-4 pm Sun 1:30-3:30 pm
1815 Hillman Ave, 2440 sf. 4/4, $1,195,600
Open: Sat 1-4 pm Sun 1:30 - 3:30 pm
9 N Oxford Ct, 2580 sf, 5/3, $1,199,000
Open: Sat 1-4 pm Sun 1:30 - 4:30 pm
1823 Valdez Ave, 2490 sf, 4//4, $1,299,000
Open: Sat 1-4 pm Sun 1:30 - 4 pm
925 South Rd, 2786 sf, 4/3, $1,499,000
Open: Sat//Sun 1-4 pm
Redwood City (only new listings here)
824 Cedar St #A, 935 sf, 2/1.5 $494,950
Open: Sat/Sun 1:30-4:30 pm
4050 Farm Hill Blvd #2, 1114 sf, 2/2.5, $509,000
Open: Sat 1-4 pm
1430 Gordon St #F, 1585 sf/ 3/2.5, $627,500
Open Sat/Sun 1-4 pm
548 Flynn Ave, 1350 sf, 3/1.5, $639,000
Open Sat/Sun 1-4 pm
262 B St, 1020 sf, 2/1, $759,999
Open: Sat/Sun 1:30-4:30 pm
514 Jeter St, 1230 sf, 2/1, $789,000
Open: Sat/Sun 1:30-4:30 pm
138 San Carlos Ave, 1070sf, 3/2, $ 795,000
Open: Sat 1-4 pm Sun 1:30-4:30 pm
1112 Palm Ave, 1140sf, 3/2, $875,000
Open: Sat 1-4 pm Sun 1:30-4:30 pm
126 Inner Circle, 2410 sf, 5/3, $1,099,000
Open: Sat/Sun 1:30-4:30 pm
NOTE: If you are aware of any upcoming open houses in our coverage area, please let us know by sending an e-mail alert to us at tips@redfin.com
June 28, 2007
Offered off the MLS, this Bonny Doon parcel of land is 77.5 acres with a year round creek and a flat meadow for building. If you are ready to tackle a commute, or to retire to your own private part of the universe, this could be a golden opportunity.
Imagine waking up to fresh mountain air, with no traffic noises whatsoever!
This piece of property is 15 minutes to Santa Cruz and 5 min to the ocean.
It also has a year round creek that runs through it.
June 28, 2007
If you have a bungalow or craftsman home built between 1900 and 1940, and you’re considering a kitchen remodel, I highly recommend the book, “The New Bungalow Kitchen,” by Peter LaBau. The author has assembled a wonderful collection of bungalow-style kitchens that artfully incorporate new kitchen technologies into designs with the look-and-feel of vintage cottages and bungalows.
The book includes inspirational photos, instructive historical information, architect contact information, and a well organized source list. I have a whole bookshelf of design books, and this is one of the few books where I absolutely love every kitchen in it.
Though you can buy it from any of the online booksellers, if you’re ever in Berkeley, you should pick it up at Builder’s Booksource, one of the best bookstores for house lovers and serial remodelers.
June 28, 2007
You can sure tell that school is out, as homes–particularly the larger family homes–are flooding the market. Here are the most recent additions in the town of Belmont:
3307 Bay Court, 2/2.5, 1660 sf
Listed for $949,888
List Date: 6/22/2007
Off the beaten path, and could be a good bargain.
2319 Buena Vista Avenue, 3/4+, 2800 sf
Listed for $1,350,000
List Date: 6/26/2007
Really, really nice property with upgrades and a killer view.
2970 Hallmark Drive, 4/2.5, 3010 sf
Listed for $1,498,000
Days On Market: 6/22/07
Large house, easy access to 92 and 280.
925 South Road, 4/3, 2786 sf
Listed for $1,499,000
List Date: 6/25/2007
Custom remodel with loads of charm and great outdoor space.
June 28, 2007
Craigs List has become a cultural statement of the times, and many distressed homeowners are turning to its free listings to sell their homes off the MLS when selling has to be done quickly.
Some of the bargains that can be found include a 3 bedroom townhouse near Oakridge Mall that is selling for $20,000 under market value at $479,990. It is 1296 square feet, has 1.5 baths, and inside laundry. The HOA fee is $280 per month.
Yet another is a Cambrian 2 bedroom, 2 bathroom condo located at Lakebird and Union. It has 1200 sq feet, and is offered at $499,950.
It also includes a one car garage plus carport.
Yet another is a San Jose single family home with a two car garage, three bedrooms, 2 baths and a fireplace located on Danby Ave. It is being offered at $665,000.
June 28, 2007
Here is your weekly list of open homes, except this time I have limited to listings at 700K or under, in response to your feedback that in general, lower prices on properties are the more interesting choices (and who can blame you). As always, I have drawn from all over the city (including Daly City in the mix as well) and show you the range from single-family to condo to co-op to TIC and everything in between available in this price range. I’ve also noted any information I could find such # of beds/baths, parking, and any other salient details.
To see photos, you can enter the address of a property into the search box at redfin.com or, if the property is for sale by owner, you will have to committ to the actual driveby.
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$549,000 9 Faxon Ave San Francisco
Open: 07/01/07 1-3 p.m.
Comment: Contemporary home featuring 2BR/1BA on main lvl, 2 rms + BA on lower level with new carpeting, 1-car parking.
$599,900 18 Lee Ave San Francisco
Open: 07/01/07 2-4pm
Comment: Ingleside single family residence. 3 bedroom, 2 bathroom living on 2 levels. Hardwood floors through out, remodeled kitchen, garden, 2 car parking and more. Close to shcools, shops, gyms, transportation!
$659,000 2419 27th Ave San Francisco
Open: 07/01/07 2pm-4pm
Comment: Split-level home with remodeled kitchen & bath
$570,000 700 Cabrillo St #5 San Francisco
Open: 06/30/07 1-3pm
Comment: Located at the Golden Gate Park, 2 bd 1 bath condo with deeded storage unit, 1 car garage.
$499,000 700 Cabrillo St #3 San Francisco
Open: 07/01/07 2-4 PM
Comment: Price reduced! 2 bedroom condo in the Richmond.
$299,000 2162 Pine St #203 San Francisco
Open: 06/28/07 6-7pm
Comment: Top Floor Upper Fillmore remodeled studio TICwith garden views. Fractional loans
$575,000 762-764 Cole St #2 San Francisco
Open: 06/28/07 2-4:30PM
Comment: Remodeled 1 bedroom 1 bath unit in Cole Valley near UCSF, Golden Gate Park. HDWD floors, tile bath, & exclusive use patio.1 car Pkg.
$589,900 123 Corwin St #B San Francisco
Open: 06/28/07 5:30-7 p.m.
Comment: Wine & Cheese open house (yay!). TIC with remodeled kitchen, Brazilian cherry flrs. Front balcony and private patio in back. Building on cul-de-sac street.
$339,000 198 Dolores #2 San Francisco
Open: 07/01/07 2-4pm
Comment: Studio flat with new kitchen and bath plus one car garage parking.
$534,000 301 Crescent Way #3110 San Francisco
Open: 06/30/07 12-5pm
Comment: Water views in these new construction condos. Open Daily 12-5. Thursdays 12-7pm.
$300,000 5571 Mission St #2 San Francisco
Open: 07/01/07 2 - 4 pm
Comment: One bedroom with hardwood floors, remodeled kitchen, independent garage parking, shared patio.
$434,500 2677 Bryant St San Francisco
Open: 07/01/07 2-4PM
Comment: Remodeled 1 bedroom TIC with landscaped yard with large new deck and newly refinished hardwood floors. Tandem garage parking.
$499,000 383 Green Ridge Dr #8 Daly City
Open: 07/01/07 2-4PM
Comment: Price reduced.
