Short Sale Saga in Redwood Shores

Image by Redwood Shores via Flickr

A 3 bedroom, 2.5 bath 1733 sq ft townhouse just closed in The Manors for $650,000. This townhouse was originally priced at $699,000; then reduced to $599,000 to stimulate a quick sale. It sold after 52 days on the market, and then took 5 ½ months to get final approval from the lenders and close escrow. This same townhouse sold for $850,000 in 2006; $900,000 in 2005; and $649,000 in 2003. This final sales price is similar to the 2003 sales price level. This is consistent with other developments in Redwood Shores.

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