Only two houses for sale in South Bay?

After searching the MLS this morning, I found two houses for sale in the South San Mateo, Redwood City area. The criterias used for searching were: built after 1980, detached or duet housing. The results that came back are two houses built in 2001, and their prices are listed as $580,000 (3 bed, 2 bath) and $768,000 (4 bed, 2 bath). This can't be right.

Watergate Living

I've seen many different arrangements for Watergate condos, but this tops it in my opinion. They've converted what once was a closet area into an office space. To see more pictures, click here to see it on the All Emeryville Properties website. If you like to see this unit, please let me know and I would be happy to show it.

Eric

Short Sales

In the October 2007 The Update from the Oakland Association of Realtors, there was a nice article regarding short sales. In particular, a question on the effects of short sales on a borrower's credit rating caught my attention.

Question:
"Does a short sale adversely affect a defaulting borrower's credit rating?"

Answer:
"Yes. Lenders will report the short sale as being settled for less than the full balance. This would show up on the borrower's credit report as a negative mark for seven years. (Cal. Civ. Code Sub-Section 1785.13)"

Send me an email and I can get you a copy of the article.