December 27, 2007

“Property seems to have no structural problems”

MLS-2.com: Property Details
1324 SEVIER, MENLO PARK,CA,94025 – $485,0001324sev.jpg

3 Beds 1130 Sq.Ft. Aprx. 1 Car Carport MLS#: 754019
1.0 Baths 5,750 Lot Size 61 Yrs Old Aprx. List Date: 2007-09-25

What’s new on MLS-2: Search by % Price Drop // Search by “MOTIVATED SELLERS”

Description – 1324 SEVIER, MENLO PARK,CA,94025
Great home for contractor to fix and live in. Also great investment property. Property seems to have no structural problems. Property minutes away from Stanford and close to shopping and schools. Still Accpeting Offers Subject to Short Sale. Loan Recently Transfered to another Servicing Company and Short Sale Package is complete. Hurry and submit offers.

Sweet! There seems to be no structural problems. And at such an amazing price. You should definitely submit offers. I’d offer $500,000 and $600,000 just to be on the safe side – if you’re going to lose, you might as well lose to yourself!

And once you get the keys, you can phone up ol’ mom and dad and say “Guess what! I’m a home owner in the Famous Bay Area! Check out these sweet pics!”

1324sevb.jpg

Trust me. They’ll be crying.

I swear, there should be a Hallmark card for moments like this!

Comments (17) -- Posted by: burbed @ 5:25 am

17 Responses to ““Property seems to have no structural problems””

  1. 3rd Generation Says:

    “Property seems to have no structural problems”

    -”George W. Bush seems to be smart”

    -”Dick Cheney seems to be honest”

    -”I’ll stop if it hurts, Honey”…

    Loan Recently Transfered to another Servicing Company and Short Sale Package is complete. Hurry and submit offers. GET REAL.

  2. rick Says:

    OMG!

    Does this mean Menlo Park is no longer part of the Bay Area? I’d better hide this away from my wife, as soon as she sees this her nesting instinct will drive her out and bid for $600k.

    I can’t believe a Menlo Park house close to Stanford and 5000+ sq is under $500k. Even the land should worth more than that right?

  3. ex-sunnyvale-renter Says:

    That looks like it’s on the border between Menlo and Redwood City, you know, where all those porn shops and cathouses are on El Camino Real. Weird area, especially at night – cops follow you around, wierd people look at you like you might be a rival gang member….

    But meth can be cooked in that garage!

    And yes, it’s within 20 miles or so of Stanford….

  4. sonarrat Says:

    That’s not correct, actually – it’s not near the Redwood City border and it’s not near El Camino Real. It’s in Belle Haven, near the East Palo Alto border.

  5. sg Says:

    Rick, there is no need to bid higher. It’s 440K now and has been on the market for more than 90 days.

  6. ex-sunnyvale-renter Says:

    but Sonnarat, meth can STILL be cooked in that garage! It’s an opportunity! lol!

  7. New Zealand Renter Says:

    sonarrat has it right. The “Menlo Park” neighborhood on the Bay side of 101 has always been considered an East Palo Alto type real estate market. Don’t count on the Menlo Park police coming when you dial 911, they are afraid to go in that area.

  8. Renter Says:

    History of this house: the current owner bought it on 11/23/2005 with $420K mortgage from New Century Mortgage; refinanced to $544K from BNC Mortgage Inc on 4/14/2006; refinanced to $620.5K from Argent Mortgage Co on 10/12/2006. New Century and BNC are gone. Argent became part of Citi Group. The smart owner carried bags of cash, leaving the trash to the bank.

  9. Renter Says:

    BTW, BNC was the lending unit of Lehman Brothers. This is the legal way to rob the bank. Unfortunately, I missed the opportunity.

  10. ex-sunnyvale-renter Says:

    I remember the BNC Mortgage place in SoCal, right beside the 55 fwy in Costa Mesa, envisioned paying a mortgage in BNC connectors lol.

    Well! Citi’s in trouble, legal way to rob the bank indeed.

  11. Real Estater Says:

    To those who are not familiar, there are 3 distict “Menlo Park” neighborhoods by the same name:

    1. The “real” Menlo Park – Multi-million dollar homes.
    2. “East” Menlo Park – Ghetto area; same as East Palo Alto.
    3. “Unincorporated” Menlo Park – Kids aren’t entitled to go to Menlo Park schools; get bus’ed to ghetto area of Redwood City for school.

    Be very careful when shopping for real estate there. Don’t work with an idiot real estate agent who can’t tell the difference between 1, 2 and 3. #2 is fairly obvious, but #3 is not as widely known. If you see a new-ish looking big house priced at under $2 mil, then it might be in area #3. As the saying goes, if it sounds too good to be true…

  12. ex-sunnyvale-renter Says:

    Ouch. Of course private schools are big in California….. for a reason….. avoid divershitty….

  13. sg Says:

    Dear Real Estater,
    Bay area public schools suck big time on national level.
    Any smart parents would rather send their kids to a private school instead wasting their money on a shack located in a “real” Menlo Park or a “real” Cupertino.

  14. sonarrat Says:

    Dear SG,
    I could only hope to be so fortunate as to send a child to Menlo-Atherton schools. But I wouldn’t even want to walk next to East Palo Alto High School – which, incidentally, is in this part of Menlo Park and also counts its children among its enrollees.

  15. rick Says:

    Oops, I was feeling something fishy there. I don’t see anything worth buying in the bay area for the next two years.

  16. Renter4 Says:

    “Real” MP schools are actually not that great. Elementary is fine, but at the high school level it gets dicey. Some very large proportion of the area kids go to private school after 8th grade.

  17. A guide to Menlo Park neighborhoods for Spring Bounce [Burbed.com] Says:

    [...] If I were you, I’d skip the game and start studying the MLS and going to open houses. At the end of last year, “Real Estater” posted a handy guide to Menlo Park that may be of use to you if you’re going in that direction: “Property seems to have no structural problems” [Burbed.com] [...]


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