Tuesday, January 06, 2009

Bay Area Foreclosures

The real estate section "who sold what, published Jan. 3" of Silicon Valley newspaper "Mercury News" shows how badly and hard hit several Silicon Valley areas by the nation's foreclosure crisis. Almost all home sales in East Palo Alto and East San Jose involved foreclosed homes from banks.

EAST PALO ALTO

1395 Camellia Drive, $245,000, 12-08-08, 1,020 SF, 3 BR, US Bank to Newlands Enterprises
732 Camphor Way, $389,000, 12-04-08, 2,050 SF, 3 BR, B. Edwards to G. Prisament
1100 Garden Street, $270,000, 12-05-08, 1,050 SF, 3 BR, Aurora Loan Services to PKS properties
1239 Jervis Avenue, $757,500, 12-05-08, 1,360 SF, 2 BR, EMC Mortgage to S. Demoraes
2265 Poplar Avenue, $266,000, 12-02-08, 960 SF, 2 BR, Credit Suisse First to L. Paul
1980 Pulgas Avenue, $255,000, 12-01-08, 1,110 SF, 3 BR, Long Beach Mortgage to A. Haller
1190 Veronica Court, $460,000, 12-05-08, 1,710 SF, 3 BR, HSBC Bank to E. Ibanez


EAST SAN JOSE

14480 Buckner Drive, $285,000, 12-16-08, 960 SF, 3 BR, Bear Stearns to R. Porras
361 Dale Drive, $367,500, 12-11-08, 3,088 SF, 5 BR, Option One Mortgage to H. Ho
3424 Dominick Court, $375,000, 12-16-08, 1,203 SF, 3 BR, Citimortgage to L. & S. Throne
3089 Markingdon Avenue, $350,000, 12-12-08, 1,579 SF, 4 BR, CWALT Inc. to J. & E. Blancarte
1639 McGinness Avenue, $300,000, 12-17-08, 1,368 SF, 3 BR, R. Quesada to H. & B. Caldera
3280 Mt. Wilson Drive, $300,000, 12-17-08, 1,000 SF, 3 BR, CWALT Inc. to R. & T. Liang
247 North Capitol Avenue #260, $140,000, 12-11-08, 777 SF, 1 BR, Lehman Brothers to M. Hoang
1302 Park Pleasant Circle, $325,000, 12-12-08, 1,338 SF, 3 BR, JP Morgan Chase Bank to H. Truong
27 Pleasant Ridge Avenue, $423,000, 12-15-08, 1,656 SF, 3 BR, Homesales Inc. to B. & T. Morin
14899 Reynaud Drive, $540,000, 12-16-08, 1,895 SF, 3 BR, Wachovia Mortgage to R. Panopio
2939 Rose Avenue, $230,000, 12-15-08, 1,024 SF, 2 BR, Ownit Mortgage to M. Abtew
860 Toyon Avenue, $401,000, 12-17-08, 1,489 SF, 3 BR, Asset Backed Securities to S. & S. Huang
1322 Woodale Court, $305,000, 12-16-08, 1,145 SF, 3 BR, HSBC Bank to R. Carowell


Take a look on recent sale history of several mention above Bay Area foreclosers. It appears that home prices in East Palo Alto and East San Jose have dropped 50% in the past two years.

2265 Poplar Avenue, $266,000, 12/02/08, 960 SF, 2 BR, Credit Suisse First to L. Paul
2/18/2005 $575,000

14480 Buckner Drive, $285,000, 12/16/08, 960 SF, 3 BR, Bear Stearns to R. Porras
7/18/2003 $320,000
10/6/2005 $620,000
6/9/2006 $630,000

1 comment:

Richard Stabile said...

This is a tradgedy. The market needs a lot of help. The repricing and additional money by the fed should start holding up the market. If people are totally underwater they are walking.