One of my friends alerted me to this house that came up in my community and I think it's worth mentioning. It's also worth mentioning that I truly don't know all of the facts surrounding this sale but what I do know is pretty darn interesting...and certainly unusual for Foster City. My friend found a listing for this place on Zip Realty's site announcing that this house was for sale for $619,900. Comparable homes sell in the mid 900's. It's a 4 bedroom, 2 bath Eichler that's currently a bank owned foreclosure, and due to the fact that it's been extensively vandalized, offers on it must be in cash only.
I need to be clear about this. I have no idea who vandalized this house, but I do know that in several instances in other areas foreclosures have often been stripped clean before the bank takes it over. I actually went over and saw this house, a rear sliding door was wide open and I peaked in. Almost all of the electrical switches and sockets including the face plates had been removed, as had all appliances, the kitchen counter top, all light fixtures. All closet doors had been removed as had both garage doors. In both bathrooms the tub and stall shower remained, but everything else was gone including toilets, sinks and mirrors. Incredibly, the concrete slab was exposed, so either the laminate or hardwood floor had been taken up and removed too. The house looked like it had had a pretty decent remodeling job done to it not that long ago.
This house has disappeared from the internet radar screen. I can't find it anywhere right now...and it never was in the MLS. $619,900 was an incredibly good price for this house and I have no doubt that somebody snatched it up. It would be a no brainer for a contractor with some money. I really hope we don't see too much more of this in 2009....but houses like this are sure good opportunities for the right investors!
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