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Can you provide any further information on the property at 813 Paulson Circle. I very much like that area and I had not heard this was available. There is one property listed for sale there but it is at 835 and is very expensive - $1.7 asking. This looks much more reasonable - in fact the assessment looks very low.
I just looked it up. This property was sold TO the Department of Veteran Affairs (which is why it was listed as Bank Owned because the VA is also a lender) on 3/27/09.
It was sold by the 'Summerhill 75 Willow Llc' to The Department of Veteran Affairs for $313,000 per the MLS. The sales price was not listed in the county records. This property is part of some sort of low income housing program. They cannot sell this for 1 million. It's pretty ironic that someone in that socioeconomic status can live in a million dollar neighborhood.
The listing agent is also the buyer agent. Listed on 3/24/09, went pending on 3/24/09, closed escrow on 3/27/09.
This home was brand new. I think you may have to meet some kind of income requirement to be eligible to purchase a resale of a low income home though? Does any one know?
Here are the remarks for MLS # 80914921:
BRAND NEW CONSTRUCTION! SPECTACULAR 4BR/2.5BA 2-STORY HOME IN NEW "LANE WOODS" COMMUNITY! MAPLE CABINETS, GRANITE COUNTERS, GREAT ROOM W/GAS FIREPLACE, STAINLESS STEEL WOOLF APPLIANCES, MARBLE TILE SURROUND IN BATHROOMS & MORE! PROPERTY SOLD THROUGH THE CITY OF MENLO PARK'S BELOW MARKET RATE HOUSING PROGRAM AT A BELOW MARKET VALUE PRICE DUE TO SALES PRICE RESTRICTIONS THROUGH THE PROGRAM.
Private : PROPERTY IS DESIGNATED AS A BELOW MARKET VALUE PROPERTY THRU THE CITY OF MENLO PARK'S BELOW MARKET RATE HOUSING PRG. SOLD FAR BELOW MARKET VALUE DUE TO SALES PRICE RESTRICTIONS THRU PROGRAM. SALES PRICE, DEED & RESALE RESTRICTIONS APPLY NOW & UPON RESALE!
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2010 Jul 14, 5:45am
It’s pretty ironic that someone in that socioeconomic status can live in a million dollar neighborhood
They do that for redevelopment and density increases.
that’s subsidized housing, an owning equilvalent to section 8.
Not really. Section 8 puts money in LLs pockets and increases land values, while low-income deed restrictions lowers land values. When I was living in Santa Cruz I saw how this worked. If you subdivide into 5 or more lots one of the lots has to be "low income" only.
So what the developer did for my housemate's case is develop in two four-home phases Google Map.
SFace
2010 Jul 14, 5:59am
You're right Troy, section 8 lifts rents which serves as rental comp for places like Antioch, Concord, Richmond, screwing other renters. Section 8 is absolutely unwanted in places like Lafayette and Orinda which drags down property value. Subsidized housing simply screws the nearby landlord.
Having said that, I hate these programs. a 27 year old bought a class A condo with her sister. She was making 75K and her sister nothing due to part time work from school, they qualified for a 2 bedroom since they were going to live with her mother. Four years later, she is making 150K (pharmacist) and her sister 100K and likely settle around 200K with experience (Lawyer), but the condo is theirs forever at pretty much a 1200 bucks mortgage. The rent is 3K.
Done!
2010 Jul 15, 7:25am
Can you provide any further information on the property at 813 Paulson Circle. I very much like that area and I had not heard this was available. There is one property listed for sale there but it is at 835 and is very expensive - $1.7 asking. This looks much more reasonable - in fact the assessment looks very low.
It's not available for Pissants, what part of "Shadow Inventory" don't you get?
Bank Owned
Property 2 of 32
Address 1225 Almanor Ave Zip Code 94025
Owner Name Washington Mutual Mtg 2006-Ar3 Recording Date 06/24/1999
Settle Date 05/24/1999 Sale Price $335,000
Total Assessment $382,000 Annual Tax $4,942
Bedrooms 5 Total Baths 2
Building Sq Ft 2,090 Lot Sq Ft 5,985
Lot Acres .1374 Universal Land Use SFR
Stories 2 Year Built 1990
Subdivision Belle Haven APN 055-354-150
Bank Owned
Property 3 of 32
Address 32 Arrowhead Ln Zip Code 94025
Owner Name Sc Property Management Inc Recording Date 01/31/2005
Settle Date 01/24/2005 Sale Price $637,000
Total Assessment $689,506 Annual Tax $8,737
Bedrooms 3 Total Baths 2
Building Sq Ft 1,398 Lot Sq Ft 5,850
Lot Acres .1343 Universal Land Use Duplex
Stories 1 Year Built 1948
Subdivision Arrowhead APN 060-094-120
Bank Owned
Property 4 of 32
Address 515 Bay Rd Zip Code 94025
Owner Name Salma Fam Lp Recording Date 07/10/2006
Settle Date 07/10/2006 Sale Price $800,000
Total Assessment $832,320 Annual Tax $10,371
Bedrooms 2 Total Baths 1
Building Sq Ft 950 Lot Sq Ft 6,250
Lot Acres .1435 Universal Land Use SFR
Stories 1 Year Built 1945
Subdivision Newbridge Park 04 APN 062-051-170
Bank Owned
Property 5 of 32
Address 1610 Bay Laurel Dr Zip Code 94025
Owner Name Bechtolsheim Andreas V Recording Date 04/23/2008
Settle Date 04/16/2008 Total Assessment $2,850,000
Annual Tax $32,652 Bedrooms 4
Total Baths 3 Building Sq Ft 2,350
Lot Sq Ft 12,882 Lot Acres .2957
Universal Land Use SFR Stories 1
Year Built 1954 Subdivision Stanford Crk Map 02
APN 071-191-090
Bank Owned
Property 6 of 32
Address 990 Berkeley Ave Zip Code 94025
Owner Name Bank Of Ny Mellon 2004-1 Total Assessment $85,460
Annual Tax $2,074 Bedrooms 3
Total Baths 2 Building Sq Ft 1,520
Lot Sq Ft 15,960 Lot Acres .3664
Universal Land Use SFR Year Built 1938
Subdivision Menlo Oaks APN 062-190-110
Bank Owned
Property 7 of 32
Address 1122 Berkeley Ave Zip Code 94025
Owner Name Mtglq Invtrs Recording Date 01/03/2005
Settle Date 12/28/2004 Sale Price $360,000
Total Assessment $306,900 Annual Tax $4,288
Bedrooms 2 Total Baths 1
Building Sq Ft 1,040 Lot Sq Ft 5,750
Lot Acres .132 Universal Land Use SFR
Year Built 1951 Subdivision Newbridge Park Map
APN 062-024-160
Bank Owned
Property 8 of 32
Address 1107 Carlton Ave Zip Code 94025
Owner Name Onewest Bk Fsb Recording Date 11/08/2006
Settle Date 11/01/2006 Sale Price $570,500
Total Assessment $440,000 Annual Tax $5,952
Bedrooms 4 Total Baths 3
Building Sq Ft 1,700 Lot Sq Ft 6,000
Lot Acres .1377 Universal Land Use SFR
Stories 1 Year Built 1950
Subdivision Newbridge Park APN 062-092-380
Bank Owned
Property 9 of 32
Address 1247 Carlton Ave Zip Code 94025
Owner Name One West Bank Fsb Recording Date 08/05/1999
Settle Date 07/28/1999 Sale Price $288,500
Total Assessment $344,324 Annual Tax $4,573
Bedrooms 3 Total Baths 1
Building Sq Ft 1,220 Lot Sq Ft 6,000
Lot Acres .1377 Universal Land Use SFR
Stories 1 Year Built 1950
Subdivision Newbridge Park San Mateo APN 062-102-280
Bank Owned
Property 10 of 32
Address 849 College Ave Zip Code 94025
Owner Name Kay Bee Llc Recording Date 12/30/2002
Settle Date 12/17/2002 Sale Price $1,825,000
Total Assessment $2,052,560 Annual Tax $23,866
Bedrooms 4 Total Baths 4
Building Sq Ft 2,720 Lot Sq Ft 8,476
Lot Acres .1946 Universal Land Use SFR
Stories 2 Year Built 2000
Subdivision Stanford Park Map 02 APN 071-404-080
Bank Owned
Property 11 of 32
Address 161 Constitution Dr Zip Code 94025
Owner Name Bohannon Development Company Recording Date 01/12/1984
Sale Price $730,000 Total Assessment $2,575,500
Annual Tax $32,342 Building Sq Ft 11,873
Lot Sq Ft 41817.6 Lot Acres .96
Universal Land Use Light Industrial Stories 10
Year Built 1965 Subdivision Bohannon Indust
APN 055-241-140
Bank Owned
Property 12 of 32
Address 1706 El Camino Real Zip Code 94027
Owner Name Wells Fargo Bk Recording Date 02/09/2007
Settle Date 01/31/2007 Sale Price $3,350,000
Total Assessment $3,485,339 Annual Tax $39,865
Lot Sq Ft 27007.2 Lot Acres .62
Universal Land Use Restaurant Building Subdivision Villa Lots/Fair Oak
APN 060-343-040
Bank Owned
Property 13 of 32
Address 700 Hamilton Ave Zip Code 94025
Owner Name Rosenbledt Pie Trust Recording Date 02/28/1997
Sale Price $165,000 Total Assessment $208,676
Annual Tax $3,492 Bedrooms 3
Total Baths 1 Building Sq Ft 1,000
Lot Sq Ft 5,760 Lot Acres .1322
Universal Land Use SFR Stories 1
Year Built 1950 Subdivision Newbridge Park Map 02
APN 055-391-010
Bank Owned
Property 14 of 32
Address 800 Hamilton Ave Zip Code 94025
Owner Name Rollover Borel Private Bk & Tr Owner Name 2 !ust
Recording Date 07/03/1997 Total Assessment $425,000
Annual Tax $5,414 Bedrooms 5
Total Baths 2 Building Sq Ft 1,530
Lot Sq Ft 6,000 Lot Acres .1377
Universal Land Use SFR Stories 1
Year Built 1951 Subdivision Newbridge Park
APN 055-394-010
Bank Owned
Property 15 of 32
Address 1150 Hollyburne Ave Zip Code 94025
Owner Name Ing Bk Fsb Recording Date 08/20/2007
Settle Date 07/19/2007 Sale Price $640,000
Total Assessment $356,000 Annual Tax $4,776
Bedrooms 2 Total Baths 1
Building Sq Ft 970 Lot Sq Ft 5,750
Lot Acres .132 Universal Land Use SFR
Year Built 1946 Subdivision Newbridge Park Map 02
APN 062-074-140
Bank Owned
Property 16 of 32
Address 1154 Madera Ave Zip Code 94025
Owner Name Williams Bob Owner Name 2 Williams Gigi
Recording Date 01/07/2005 Settle Date 01/05/2005
Sale Price $589,000 Total Assessment $330,000
Annual Tax $4,875 Bedrooms 3
Total Baths 1 Building Sq Ft 1,010
Lot Sq Ft 6,000 Lot Acres .1377
Universal Land Use SFR Year Built 1951
Subdivision Newbridge Park APN 062-092-150
Bank Owned
Property 17 of 32
Address 1348 Madera Ave Zip Code 94025
Owner Name Indymac Indx Mtg Trust 2007-Fl Owner Name 2 !x4
Recording Date 11/01/1984 Sale Price $62,000
Total Assessment $104,083 Annual Tax $2,385
Bedrooms 2 Total Baths 1
Building Sq Ft 980 Lot Sq Ft 6,000
Lot Acres .1377 Universal Land Use SFR
Stories 1 Year Built 1948
Subdivision Newbridge Park San Mateo Cty APN 055-382-140
Bank Owned
Property 18 of 32
Address 1121 Menlo Oaks Dr Zip Code 94025
Owner Name Gonzalez Jamie Owner Name 2 Faray Abraham
Recording Date 08/07/1990 Settle Date 08/00/1990
Sale Price $167,500 Total Assessment $223,909
Annual Tax $3,551 Bedrooms 3
Total Baths 1 Building Sq Ft 910
Lot Sq Ft 6,960 Lot Acres .1598
Universal Land Use SFR Stories 1
Year Built 1952 Subdivision Newbridge Park Map 03
APN 062-021-060
Bank Owned
Property 19 of 32
Address 1324 Modoc Ave Zip Code 94025
Owner Name Deutsche Loan Trustust Co Trus Owner Name 2 !t
Recording Date 06/23/2005 Settle Date 06/15/2005
Sale Price $655,000 Total Assessment $345,000
Annual Tax $4,605 Bedrooms 3
Total Baths 1 Building Sq Ft 1,020
Lot Sq Ft 4,900 Lot Acres .1125
Universal Land Use SFR Stories 1
Year Built 1950 Subdivision Belle Haven City
APN 055-353-200
Bank Owned
Property 20 of 32
Address 1441 Modoc Ave Zip Code 94025
Owner Name Wells Fargo Bank Trust Recording Date 03/24/1969
Sale Price $17,500 Total Assessment $380,000
Annual Tax $5,291 Bedrooms 3
Total Baths 1 Building Sq Ft 960
Lot Sq Ft 5,500 Lot Acres .1263
Universal Land Use SFR Stories 1
Year Built 1952 Subdivision Belle Haven
APN 055-333-050
Bank Owned
Property 21 of 32
Address 664 Nash Ave Zip Code 94025
Owner Name Stanford Leland Univ Brd Jr Recording Date 06/14/1968
Sale Price $25,500 Total Assessment $64,127
Annual Tax $2,146 Bedrooms 2
Total Baths 1 Building Sq Ft 1,420
Lot Sq Ft 7,000 Lot Acres .1607
Universal Land Use SFR Year Built 1941
Subdivision Nash APN 062-282-160
Bank Owned
Property 22 of 32
Address 215 Newbridge St Zip Code 94025
Owner Name Mastr Asset Backed 2006-He4 Recording Date 07/31/2006
Settle Date 07/24/2006 Sale Price $630,000
Total Assessment $306,000 Annual Tax $4,553
Bedrooms 2 Total Baths 1
Building Sq Ft 810 Lot Sq Ft 5,150
Lot Acres .1182 Universal Land Use SFR
Year Built 1949 Subdivision Belle Haven City
APN 055-363-200
Bank Owned
Property 23 of 32
Address 3422 Oak Dr Zip Code 94025
Owner Name Flagstar Bk Fsb Recording Date 07/31/2006
Settle Date 07/25/2006 Sale Price $875,000
Total Assessment $750,000 Annual Tax $8,636
Bedrooms 3 Total Baths 2
Building Sq Ft 1,450 Lot Sq Ft 5,300
Lot Acres .1217 Universal Land Use SFR
Stories 1 Year Built 1950
Subdivision Fair Oaks Acres APN 060-182-430
Bank Owned
Property 24 of 32
Address 813 Paulson Cir Zip Code 94025
Owner Name Calif St Dept Vets Affairs Total Assessment $423,363
Annual Tax $5,933 Universal Land Use SFR
Subdivision Lane Woods APN 062-580-040
Bank Owned
Property 25 of 32
Address 657 Pierce Rd Zip Code 94025
Owner Name Morgan Stanley Abs 2007-He4 Recording Date 04/04/2003
Settle Date 04/01/2003 Sale Price $152,500
Total Assessment $360,866 Annual Tax $4,823
Lot Sq Ft 2,697 Lot Acres .0619
Universal Land Use SFR Subdivision Newbridge Park 02
APN 062-073-330
Your Search Parameters:
State: CA
County: SAN MATEO
City: Menlo Park
Foreclosure Stage: Bank Owned
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