Redwood City, CA Ranch

This cozy ranch on the San Francisco Peninsula is listed for just $294,900. This is one of the lowest priced properties in Redwood City, and offers a great opportunity to be located close to San Francisco and the Silicon Valley/San Jose. Most of the Redwood City houses priced lower than this are either in very poor condition or have location issues (ie they face the CalTrain tracks). The previous owner paid $539,000 for this house around the peak of the real estate rush (7/27/2005), and Zillow.com now estimates that this house is worth $489,500 (down almost $100k from its peak 2006 value estimate).


Though this REO will need some updating and cosmetic work prior to occupancy, it looks like a decent house, and the new owner can probably get it into pretty good shape for $10,000 or less… new carpet/paint, landscaping, and a few repairs should do the trick. This house could be rented for about $2,000 per month, or could be a great opportunity for an owner-occupant. This, like most REOs in the Bay Area, seems like a strong investment for a buyer who can wait out the current slump. As people continue to migrate to the Bay Area, property values will continue to climb in the long run, and demand for housing in the more desirable areas (like the Peninsula) will be strong. This one is definitely worth a look.



The basics...
Address: 554 Stanford Avenue, Redwood City, CA 94063
Current Listing Price: $294,900
PREVIOUS Sale Price: $539,000 (7/27/2005)
Size: 2 Bedrooms, 1 Bathroom; 760 square feet
Lot: .06 acres

http://www.realtor.com/realestate/redwood+city-ca-94063-1101248467/