May 1st, 2015 No Comments »
Belmont had a total of 24 home sales in April. Of those 24, only 2 of them were condos/townhouses and saw a median home price of $1,538,000. March saw a total of 40 single family home sales, with a median price of $1,481,500. That’s a $56,500 increase in the median home price in one month. Not one home sold under $1 million and properties in Sterling Downs have topped well above the $1.1 range.
It’s a crazy market out there and buyers are getting more and more aggressive with their offers. Yesterday I wrote an offer on a property that received a total of 31 offers!! Many of the buyers are very well qualified and have large down payments, and we are still seeing all cash offers, but the supply is simply not meeting the demand.
807 Miramar Terrace- Listed at $2,150,000 and sold for $2,801,000
2441 Hastings Dr.- Listed at $1,439,000 and sold for $1,950,000
51 Ralston Ranch Rd.- Listed at $1,889,000 and sold for $1,945,000
575 South Rd. – Listed at $1,949,000 and sold for $1,890,000
1109 Ladera Way- Listed at $1,589,888 and sold for $1,725,000
1200 Lane St. – Listed at $1,285,000 and sold for $1,718,000
1255 Chula Vista Dr- Listed at $1,495,000 and sold for $1,700,000
2632 Monte Cresta Dr.- Listed at $1,448,000 and sold for $1,680,000
1507 Folger Dr.- Listed at $1,198,000 and sold for $1,660,000
1424 Sunnyslope Ave.- Listed at $1,175,000 and sold for $1,565,000
2702 Barclay Way- Listed at $1,349,000 and sold for $1,551,000
1560 Sunnyslope Ave.- Listed at $1,399,000 and sold for $1,525,000
3211 Adelaide Way- Listed at $1,297,000 and sold for $1,515,000
914 Avon St.- Listed at $1,540,000 and sold for $1,450,000
3325 Plateau Dr.- Listed at $1,188,000 and sold for $1,450,000
1346 Sunnyslope Ave.- Listed at $1,180,000 and sold for $1,410,000
3610 Hillcrest Dr.- Listed at $1,198,000 and sold for $1,400,000
2510 Read Ave.- Listed at $1,195,000 and sold for $1,385,000
1018 Villa Ave.- Listed at $1,225,000 and sold for $1,370,000
2129 Coronet Blvd.- Listed at $1,188,000 and sold for $1,350,000
514 Chesterton Ave.- Listed at $895,000 and sold for $1,181,000
400 Davey Glen Rd. #4522- Listed at $650,000 and sold for $697,500
400 Davey Glen Rd. #4325- Listed at $479,000 and sold for $535,000
March 27th, 2015 No Comments »
Beautiful home welcomes you with a private courtyard entry! A bright living room boasts recessed lighting, a fireplace and a dining area. Quartz counter tops adorn the kitchen and is accented with a modern back splash and stainless steel appliances. There are 2 bedrooms, one bath and a bonus area on the main level. The upper level features 2 bedrooms and another bonus room ideal for an office or nursery. The master bath has been renovated with sleek tile and offers a very large shower, dual closets and a dressing area. A level yard is perfect for relaxing or entertaining on the deck, patio or large lush lawn area. This home offers abundant space for every lifestyle!
THIS PROPERTY WILL BE OPEN SATURDAY MARCH 28 AND SUNDA MARCH 29 1-4 PM!
March 3rd, 2015 No Comments »
Belmont only saw a total of 5 closed escrows for February, 2015. The average sales price was $1,255,322, but there is so little data (and inventory!) that those numbers don’t mean much. There are currently 19 pending sales in Belmont, so March will see the number of closed home sales increase.
Sales prices continue to go up and buyers seem to be getting more and more aggressive with their offer prices. There are 2 particular homes in Belmont that are currently pending and although they have not closed escrow yet, we know what the final sales price will be and they are just mind-blowing. Yes, even realtors are shocked at times by what happens in the market place.
From January to February of 2014, there were 53 total home sales in Belmont, with an average price of $1 million dollars ($999,943 to be exact). January-February of 2015 had a total of 15 home sales, with an average price of about $1,200,000 ($1,195,378). That’s approximately 20% appreciation. I expect that number to rise as we get more home sales in for the year. But the numbers are showing a clear pattern: Significantly less sales, much higher sales prices. And that translates into a sellers market, putting you in the drivers seat if you are a seller.
32 Edgewood Place Listed at $1,248,000 and sold for $1,450,000.
1606 Valley View Ave.- Listed at $1,088,000 and sold for $1,251,288
2507 Cipriani Blvd.- Listed at $1,210,000 and sold for $1,210,000 (this property was sold off the open market).
2312 Cipriani Blvd.- Listed at $1,188,000 and sold for $1,200,000 (this property was sold off the open market).
1706 Terrace Dr. – Listed at $1,150,000 and sold for $1,120,000.
February 20th, 2015 No Comments »
We are proud to introduce 2 very unique Belmont Homes! The first property offers panoramic Bay views and is located at 1665 Sunnyslope Ave. and offers 4 bedrooms, 4 full baths, plus a bonus room that is ideal for a fifth bedroom or home office. This Mediterranean style home offers an abundance of both indoor and outdoor space, plus an outdoor kitchen, multiple decks, 2 master suites, and a large level grassy area with a gazebo. You can view more details at www.1665Sunnyslope.com or better yet, visit the home in person this Saturday and Sunday during the public open house from 1-4 pm.
The second property we are introducing boasts majestic canyon views is located at 2280 Hastings Drive. This home has been extensively remodeled with high end style and design, using top of the line materials and fixtures. All on one level, this home features 3 bedrooms, 2 baths, an open concept kitchen, living and dining area with a 2 way fireplace and a low-maintenance deck that’s perfect for enjoying the peaceful views. There is also a zen-like atrium just off the formal entry. For urban style in a peaceful setting, this home is sure to please! You can view more photos and details of this property at www.2280Hastings.com or visit the open houses this weekend on Saturday or Sunday from 1-4 pm.
If you would like to arrange for a private tour of these residences, please feel free to contact us and we will be happy to arrange a an individualized viewing.
January 20th, 2015 No Comments »
We are thrilled to be marketing the newest (not to mention ONLY) listing in Belmont!! This wonderful home is an original Eichler (not too common in Belmont), and offers 2 bedrooms, 2 full baths and about 1422 sq. ft. (per seller) of living space. The current homeowner has done extensive renovations and an addition on this home to create modern amenities like a large kitchen, master suite, open living room, and designer touches throughout. A bright living/dining room is flooded with natural light, a designer chandelier, and a large den with french doors that lead to the yard and slate tile patio.
The kitchen offers a breakfast area, quartz counter tops, a very large sink, a built in microwave and oven, a skylight to bring in natural light and a breakfast area right in front of a large window.
The master bath features a dual vanity with multiple drawers for storage, a pony wall the separates the toilet, and an over-sized shower with custom tile work, making it a feel like a spa the moment you walk in. The master bedroom offers a large closet and access to the rear yard.
Additional amenities include a formal entry with a custom shoe closet, an indoor laundry closet with a stackable washer and dryer, bamboo floors, radiant heat, ceiling fans in the bedrooms, a renovated second bath, and a one car garage plus an extra parking pad.
If you are in the area cruising around Belmont this weekend, stop by on Saturday or Sunday from 1-4 and view all this beautiful home has to offer!
January 15th, 2015 No Comments »
The Belmont real estate market in 2014 started off very strong and didn’t slow down till the very last 2 weeks of the year, and that’s primarily because there was virtually no inventory up for sale. Open houses continued to have very high traffic through mid-December, so the market wasn’t really slowed down by the holiday season.
There were a total of 255 residential home sales in 2014, with an average sales price of $1,239,687–up $106,035 from 2013, where the average sales price was $1,113,652. This includes single family homes, condos and townhouses. The average sales price for single family homes is $1,314,693, and the average sales price for condos and townhouses is $697,703.
A shortage of homes for sale contributed to many homes selling with multiple offers, well above the asking price, sometimes by hundreds of thousands of dollars. In addition, most of the winning offers came in with no inspection or financing contingencies, and at times, offering incentives such as free rent to the sellers to make their offer more attractive. For 2015, we can expect more of the same, unless interest rates go up significantly, which doesn’t seem like likely for the first 2 quarters of 2015. Although the job market has improved, rents have been consistently on the rise, pushing more buyers into the market, which will only increase the demand for an alright low supply of available homes for sale. In a balance market, there is usually about a 4-6 month supply of inventory. In 2014, there was less then one month of inventory all year.
So, if you’re planning on buying a home in 2015, it’s imperative to be well informed and prepared to navigate the rapid pace of the current market. If selling is in your future, you are at an advantage, because most properties, presented, priced and marketed properly, will generate a favorable sale for you.
December 5th, 2014 No Comments »
The holiday season is in full swing, and that’s reflected by both the number of active homes on the market in Belmont (4), as well as the number of closed sales in November (13). The number of closed sales in November is almost half of what closed in October (24). Here are the properties that sold in November.
- 3317 Adelaide Way- Listed at $1,618,000 and sold for $1,915,000
- 3840 Naughton Ave- Listed at $1,499,000 and sold for $1,680,000.
- 3415 Plateau Dr. – Listed at $1,549,000 and sold for $1,540,000
- 3303 Bay Court- Listed at $1,398,000 and sold for $1,425,000
- 1712 Terrace Dr.- Listed at $1,149,000 and sold for $1,375,000
- 1738 Valley View Dr. – Listed at $1,349,000 and sold for $1,370,000
- 3407 Lower Lock- Listed at $1,326,000 and sold for $1,315,000
- 1712 Notre Dame Ave.- Listed at $1,300,000 and sold for $1,300,000
- 1736 Valley View Ave.- Listed at $1,075,000 and sold for $1,250,000
- 316 Malcolm Ave. – Listed at $1,298,000 and sold for $1,238,000
- 1716 Valley View Ave. – Listed at $935,000 and sold for $1,180,000
- 21 Rinconada Circle- Listed at $925,000 and sold for $1,051,000
- 2003 Monroe Ave.- Listed at $948,000 and sold for $982,800
The average sales price in November was $1,342,500, that’s $78,000 more than the median sales price in October, 2014. All but three of these home sold above the $1.2 mark. Although there are only 4 active homes on the market in Belmont, one of them basically lot value, one is a townhouse that has a smaller pool of buyers, one of them is an attached single family home and is the most conforming to the average type of home that buyers look for (also happens to be our listing, www.2526Hastings.com), and one of them is a single family home and business that are being sold together. Hopefully January will give us some more inventory, as there are still many buyers out there looking, regardless of the time of year.
December 3rd, 2014 No Comments »
We are pleased to introduce our newest listing at 2526 Hastings Drive! This beautiful home faces an expansive canyon, offering majestic and serene views from most of the home. A private courtyard entry leads to the front door and a secluded patio. The dramatic formal entry opens up to a bridal staircase and elegent living room with a fireplace. Just off the living room is the formal dining room, perfect for entertaining. The renovated kitchen features loads of storage space, quartz counters, a built-in wine fridge and microwave, a gas range, and double oven (all appliances are stainless steel). The kitchen opens up to a breakfast area and family room, which provides access to the expansive deck and lush lower yard. A renovated half bath features a wall of designer tile and sleek finishes. All three bedrooms are on the upper level, including the grand master suite that boasts it’s own balcony, a walk-in closet, dual vanity and large bath. The other two sizable bedrooms offer abundant closet space and share another full bath with large dual vanity as well. This home also offers a separate laundry area, recessed lighting, and a two car garage. THIS PROPERTY WILL BE OPEN SATURDAY AND SUNDAY DECEMBER 6 AND 7 TH FROM 1-4 PM. STOP ON BY AND VIEW THIS LOVELY HOME!
November 24th, 2014 No Comments »
1. Inventory of Competition is Lower- Your home stands out more when there’s less to choose from. Although some buyers will put their search on hold during the holidays, there are still serious and more motivated buyers out there during the holidays.
2. Buyers looking during the holidays often have an urgency factor that’s driving their search- Many reasons can create urgency for a buyer, but common reasons include anticipation of a baby being born, the need to be out of their current home by a certain deadline.
3. Homes Can Show Better While Decorated-Your home may look better now than any other tie of year! Why not see it at it’s best? Fireplaces, evergreens, scented candles and warmth make houses feel like homes when the weather outside is not so pretty.
4. It’s ok to have specific “No Showings” times during the holidays. -Keys and/or lock boxes can be removed during certain times to ensure your privacy. Just because your planning a few holiday events is no reason to not be for sale the rest of the time.
5. Decreased Demand- Lenders, appraisers, home inspectors, movers and other vendors are slower this time of year, making processing times faster and smoother for you vs. the busier season.
6. Buyer have more days-times off during Mid-November through January- This will increase serious buyer traffic during nomral business hours vs. showings during your evenings and weekends.
7. You can be wrapping up your home sale when everyone else is getting started- And if you’re looking to buy another home, by the time you’re ready to get out there and start shopping, housing inventory will be on the rise, allowing you to sell your home for the highest possible price and purchase your new home at the best possible price.
8. You can rent back your home for a later move out- If the buyer has no urgent reason or need to move in right at close of escrow, a rent-back can be negotiated, allowing you to move 60-90 days after you get in contract.
9. The cost of prepping your home for sale could decresas- Stagers, handymen, painters, and other trades often see a decrease in business this time of year and are often times more negotiable on their rates during the holiday season.
10. You’re selling in a market that you know NOW- Interest rates are still very low…Right NOW. After the new year, it is uncertain if interest rates go up and by how much. We know the current market conditions now, but we don’t know what they will be like in 3, 6 or 12 months from now. Selling in a NOW market offers more guarantees than selling in a WHAT IF market.
November 11th, 2014 No Comments »
A little late, but the numbers are in. Belmont saw a total of 24 home sales in October, of which 3 of them were condos. The median sales price is $1,264,500, up by $9,500 over September’s median of $1,255,000. There are only 8 homes on the market in Belmont as of today, one that is a condo/townhouse, so only 7 single family homes on the market. That number is not expected to rise significantly till early 2015 and after the holiday season. The good news for buyers is that interest rates are still low, and the number of offers received on a property and all-cash offers has decreased (though they are still around, just not as much). The good news for sellers, is that there are still a lot of buyers out there.
2821 Newlands Ave. – Listed at $1,866,000 and sold for $2,019,000.
75o Buckland Ave. – Listed at $1,795,000 and sold for $1,960,000
19 Highlands Ct. – Listed at $1,750,000 and sold for $1,765,000
1715 Valley View Ave.- Listed at $1,495,000 and sold for $1,350,000 (after the price was reduced to $1,399,000)
1754 Terrace Dr. – Listed at $1,389,000 and sold for $1,300,000
448 Middle Rd. – Listed at $1,388,000 and sold for $1,550,000
2617 Barclay Way- Listed at $1,385,000 and sold for $1,550,000
2509 Hastings Dr.- Listed at $1,349,000 and sold for $1,379,000
1605 Vine St. – Listed at $1,258,000 and sold for $1,351,000
2911 San Juan Blvd. – Listed at $1,278,000 and sold for $1,198,000 (after the price was reduced to $1,198,000)
2768 Yosemite Dr.- Listed at $1,188,000 and sold $1,320,000
2546 Belmont Canyon Rd. – Listed at $1,179,000 and sold for $1,139,500
2232 Semeria Ave.- Listed at $1,100,000 and sold for $1,250,000
2519 Read Ave.- $1,050,000 and sold for $1,279,000
6 Monte Cresta Ct.- Listed at $998,000 and sold for $1,340,000
1121 Broadway- Listed at $998,000 and sold for $998,000
1118 Villa Ave. – Listed at $985,000 and sold for $1,110,000
2616 Ponce Ave. – Listed at $1,050,000 and sold for $975,000
1124 Villa Ave. - Listed at $938,000 and sold for $1,065,000
2608 Read Ave. - Listed at $850,000 and sold for $964,000
400 Cornish WY- Listed at $838,000 and sold for $900,000
300 Davey Glen Rd. #3307- Listed at $429,500 and sold for $399,000
1101 Continentals WY, #204- Listed at $389,000 and sold for $400,000
300 Davey Glen Rd. $#3726- Listed at $385,000 and sold for $385,000