Deal or No Deal Results: Gettin’ Gritty in South City
Cirios Verdict: DEAL
Last week, elated we had finally found a Deal, Cirios posted 269 Sequoia Ave in South San Francisco is what would be our first Deal of the Deal or No Deal column.
Sadly (or happily?), the suspense was ruined the next day when the property went under contract.
This home is well-maintained and has two bathrooms, a big plus in this neighborhood, as noted last month in Cirios Trends, 2 bathrooms + South San Francisco = Desirable. Nice landscaping and a decent sized lot makes this home very desirable. Finally, it’s actually listed at the proper price, which helps explain why it only lasted a couple weeks on the market.
A small drawback is its proximity to BART (noise), but the convenience to public transportation and amenities like Trader Joe’s and Costco are a big plus.
Home price in South City have fallen almost 50% in the past few years, but this area has held up better than most. This is due to the good schools, proximity to public transportation and relative affordability when compared to suburbs like Burlingame and Millbrae. While we do foresee further depreciation in the near term, it should be moderate and prices are well supported by median incomes not too much further than where we are now.
Address: 269 Sequoia Ave., South San Francisco, CA 94080
Status: PENDING
List Date: 3/31/09
List Price: $515,000
Cirios Value: $520,000
List Price vs. Cirios Value: 0.9% under-listed.
For a complete Cirios Valuation, click here for our CLEAR report, or on the image to the right.
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Tags: BART, DEAL, Deal or No Deal, South City, South San Francisco