May 7, 2013

Redwood City Report: Bubble ain’t happening here

Let’s return again to our roots and feature one of the homes that Burbed was best known for. Have a look at this spacious place while we take a good look at some prices.

130507-alden-redfin418 ALDEN St
Redwood City, CA 94063
$390,000

1 Beds
1 Baths
640 Sq. Ft.
$609 / Sq. Ft.
Built: 1925
Lot Size: 5,000 Sq. Ft.
On Redfin: 18 days
Property Type: Detached Single Family
View: Neighborhood
County: San Mateo
Stories: 2
Community: Lenolt
MLS#: 81312880

NEW KITCHEN WITH GRANITE COUNTER TOP, NEW WINDOWS, NEW BATHROOM. CONVENIENTLY LOCATED CLOSE TO SHOPPING, FREEWAY AND TRANSPORTATION.

For $390K, you’re only going to get one GRANITE COUNTER TOP and one NEW BATHROOM and zero photos of either. But that’s not the only reason we’re featuring this delightful dwelling.  Have a look at the listing from the last time it went on the market, as a short sale.

130507-alden-redfin-old418 ALDEN St
Redwood City, CA 94063
Sold for $239,000

1 Beds
1 Baths
640 Sq. Ft.
$373 / Sq. Ft.
Built: 1925
Lot Size: 5,000 Sq. Ft.
Sold On: Jun 10, 2011
Property Type: Detached Single Family
Community: Lenolt
MLS#: 81053292
Stories: 2
County: San Mateo

SHORT SALE. SALES PRICE AND COMMISSION SUBJECT TO LENDER’S APPROVAL.

130507-alden-graphJust because the price went up 63 percent due to a GRANITE COUNTER TOP doesn’t mean we’re in a bubble. 

Why, just take a look at the price history for this palace.  We have a lovely little line graph for you as well as the screenshot from Redfin.

Obviously there’s no Bubble 4.0 in this part of Redwood City, because it was completely derailed after 2006. All the dots on the graph are sales except for the last one on the right, that’s the current asking price.

130507-alden-history

Do you have any doubt where this investment is heading? In case you don’t, the house itself has the answer for you.

130507-alden-arrow

Comments (5) -- Posted by: madhaus @ 5:03 am

5 Responses to “Redwood City Report: Bubble ain’t happening here”

  1. Alex Says:

    Prices are going up all over the bay area… and no this is not another bubble. It’s just pricing are changing back to its normal level.

  2. PK Says:

    Hmmm… that arrow should be green! Red means it’ll stop soon.

  3. Dewane Says:

    The east is red! Red is a very lucky color these days. This site is so deja vu these days, mostly because of RE’s smug posts that we are already priced out and how everything is better in Shallow Alto.

  4. madhaus Says:

    #1, sorry you need to choose another name. We already have enough people here named Alex.

    #2, look at yesterday’s house, full of giant red arrows! Red is lucky, like #3 says!

  5. sfbubblebuyer Says:

    It will be interesting to see this play out. Are the housing prices leading monetary inflation? Or was the monetary inflation hidden, and housing is now catching up? Where is my damn wage inflation?


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