January 14, 2008

Deal of the Century in Daly City: Auctioned Houses

January 2007:

August 2007:

December 2007:

January 2008:

 219auction.jpg

Oh. My. God.

This is the deal of the century: starting bid, $219k. Previously valued to:  $815k $850k (Thanks to this site!)

If you’re not bidding for this house, I don’t know what’s wrong with you. Obviously the final bid will be closer to $1 million than $219k, so now’s the time to open your checkbook and buy the Daly City house of your dream!

Yellow house, you still have me at hello.

(Thanks to Burbed reader Tracey for this find!)

Comments (14) -- Posted by: burbed @ 5:59 am

14 Responses to “Deal of the Century in Daly City: Auctioned Houses”

  1. DensityDuck Says:

    Back in PA, you’d expect that place to top out at 219K. Around here, it seems insanely cheap!

    And no doubt some sharp young businessman will buy it in the mid-300s, and then immediately drop it back in the listings at “market value”. On the way home from the RE office they’ll drop by the Porsche dealer and buy a new Boxster, borrowing against their soon-to-be-realized profit…

    Side note: I see that the property is right next to “San Bruno Mountain State Park”. Around here, “State Park” is a code phrase for “land that is too steep to build houses on”.

  2. DensityDuck Says:

    “PA” meaning Pennsylvania, not Palo Alto.

  3. ex-sunnnyvale-renter Says:

    Starting Bid lol!!! I’d pay $100k for it because I think I could hustle up the payment each month, I think. But it’d be a rip at anything more than that.

    Selling junk at swapmeets, maybe take in a renter, street musician’ing you know, the up and coming jobs in the BA.

    What an ugly POS though.

  4. gfw Says:

    Is that astroturf on the roof?

  5. Priced-Out Says:

    Just curious which site do we get to see auction properties at? Is it a paid service?

  6. burbed Says:

    The link for that house was:

    http://www.ushomeauction.com/property.php?auctionID=H-017&itemID=11448&venueId=75&start=0

  7. a.c. Says:

    >>Obviously the final bid will be closer to $1 million than $219k, so now’s the time to open your checkbook and buy the Daly City house of your dream!

    Well it wouldn’t sell for 515k, so let’s say BEST case.. the seller gets 500k. That’s a hell of a lot closer to 219k than it is to a million…

  8. a.c. Says:

    >>Obviously the final bid will be closer to $1 million than $219k, so now’s the time to open your checkbook and buy the Daly City house of your dream!

    Well it wouldn’t sell for 515k, so let’s say BEST case.. the seller gets 500k. That’s a hell of a lot closer to 219k than it is to a million…

  9. ex-sunnnyvale-renter Says:

    It’s probably those sort of tar shingles with sand/grit embedded in them, plus a little Bay Area moss, which yes, would look like Astroturf!

  10. Ed Says:

    For all the times this has been listed and all the hundreds of thousands of dollars that the price has dropped, couldn’t somebody have slapped on a coat of paint?

  11. Alison Says:

    A comment on my blog http://sfbay.redfin.com/blog/2008/01/serious_slash_and_burn_in_oakland.html

    recommended I check out your post. From Zillow’s data previous sales history for 1125 Hanover is as follows:

    04/20/2007: $558,763
    05/30/2006: $815,000
    04/05/2004: $575,000

    Anyone know the final bid?

  12. Dave Says:

    Still listed as being up for auction on Feb 25th. Follow the link above to usauction.com.

    http://www.ushomeauction.com/property.php?auctionID=H-017&itemID=11448&venueId=75&start=0

  13. Jim D Says:

    Did you read the terms and conditions? Secret reserve price, and be sure to add 5% to the amount bid to pay the auction.

    Maybe, just maybe, I’d consider it at the starting bid price + 5%.
    940 sq ft? As is sale? No thanks, I’ll wait till there’s no reserve, thanks anyway.

    And paint. They’d have to paint the damn thing first. That’s not up for negotiation.

  14. B.R. Says:

    Sold for $467,500

    4/3/2008 $467,500 Grant Deed Resale HSBC Bank USA Natl Deutsche B Lee, Benjamin 701049215


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