Find a deal on a house in San Mateo by knowing the market: looking at houses, comparing them and then finding out what they ended up selling for.
This house is actually a deal – even though the whole place is a disaster. Even worse than what you see in that picture. The only good thing about it is that it doesn’t smell. I think the only reason it doesn’t smell is that a lot of the walls are bolted on plywood.
It’s not even sold yet and I know it’s a deal because this one is priced $240,000 less than the next least expensive house in the neighborhood and it’s not going to cost $240,000 to make it look like the one that’s selling for $998,000. I’m not the only one that knows it’s a deal; there are five offers.
The news says it’s a terrible market, you can’t get a loan, joblessness is ridiculous, the sky is falling. But there are five people who want to buy a house without a kitchen. It needs everything. I mean everything from a roof to new floors.
Bottom line in this market as in any other: If it’s priced right, it’ll sell.