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bg1
2010 Dec 22, 2:42pm
If it is a new development, it could have been a below market unit in 2001. I think that means the price is capped for a low income buyer.
This is for sale for 399k:
http://www.redfin.com/CA/East-Palo-Alto/931-Gates-St-94303/home/1842923
The redfin listing shows previous sale was a 97k at a foreclosure auction, but that foreclosure must be
on the 2nd mortage?
The price history is rather funny looking. For example it says the original sale price in 2001 was
133k. I think it should have been over 400k when new.
#housing