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
October 1st, 2014 No Comments »
Although many families were busy getting ready for the school season to start late August/early September, the housing market showed no sign of slowing down. Belmont saw a total of 28 single family and condo home sales. The median sales price was $1,255,000, up $50,000 in comparison to August, though the number of sales was also up. Of the 28 home sales, 26 of them were single family homes, and only 2 of those properties sold under the $1,000,000 mark. Home prices have certainly been on the rise, and so have rents. Currently, a 3 bedroom, 2 bath home in Belmont could easily rent for anywhere between $3300 and $4000, which has put more buyers into the market. The amount of home buyers relative to the amount of available homes for sale, coupled with interest rates that are still holding at record lows is allowing the ball to remain in the sellers court. With the Holidays approaching, it is unlikely that we’ll see a big spike in inventory till early 2015, but sellers willing to go on the market during the holidays could end potentially end up with a slightly higher sales price than in Spring, when the housing market begins to pick up again and inventory increases.
1308 Sunnyslope Ave. – Listed at $1,850,000 and sold for $2.075,000.
15 Folger Ct. – Listed at $1,850,000 and sold for $2,401,000
2836 Benson Way- Listed at $1,695,000 and sold for $1,750,000
2609 Newlands Ave. – Listed at $1,599,950 and sold for $1,650,000
2819 San Juan Blvd. – Listed at $1,888,000 and sold for $1,750,000 (after the price was reduced to $1,599,000
1150 North Ct.- Listed at $1,498,888 and sold for $1,600,000
2817 Alhambra Dr.- Listed at $1,440,00 and sold for $1,400,000
2611 Cipriani Blvd. - Listed at $1,599,00 and sold for $1,385,000 (after the price was reduced to $1,375,000
1127 Alomar Way- Listed at $1,298,000 and sold for $1,275,000
2001 Sharon Ave.- Listed at $1,290,000 and sold for $1,235,000
1934 Hillman Ave. – Listed at $1,250,000 and sold for $1,110,000
1585 Harbor Blvd.- Listed at $1,249,950 and sold for $1,325,000
26 Notre Dame Pl. Listed at $1,199,999 and sold for $1,300,300
4213 Skymont Dr. - Listed at $1,199,000 and sold for $1,400,000
1582 Winding Way- Listed at $1,195,000 and sold for $1,195,000
508 Alameda de las Pulgas- Listed at $1,199,000 and sold for $1,250,000
1922 Hillman Ave. – Listed at $1,098,000 and sold for $1,315,000
2704 Sequoia Way- Listed at $1,088,000 and sold for $1,120,000
1501 Altura Way- Listed at $1,075,000 and sold for $1,120,000
1401 Arden Lane- Listed at $1.068,000 and sold for $1,260,000
3707 Naughton Ave. - Listed at $995,000 and sold for $1,120,000
411 Briarfield Way - Listed at $979,000 and sold for $1,050,000
1906 Bayview Ave.- Listed at $945,000 and sold for $1,170,000
1822 Mezes Ave. - Listed at $899,000 and sold for $921,000
806 Anita Ave. – Listed at $899,000 and sold for $1,101,000
1080 Judson Ave. – Listed at $775,888 and sold for $790,000
300 Davey Glen Rd. #3929- Listed at $699,000 and sold for $729,000
400 Davey Glen Rd. #4725- Listed at $520,000 and sold for $495,000
September 25th, 2014 No Comments »
Over the past 10 years, there have been a total of 13 Belmont properties that sold at or above the $2 million: 6 of these properties sold in 2014 (out of a total of 200 home sales thus far). Neighboring San Carlos experienced a total of 19 home sales over $2 million. So, what did all these home have in common to yield a $2 million sales price in today’s Market?
- A minimum of 4 bedrooms (4 of the 6 homes had 4 bedrooms, one had 5 bedrooms, and one had 6 bedrooms.)
- A minimum of 2500 sq. ft. (4 of the 6 homes had 2500-2800 sq. ft. One had slightly over 3400 sq. ft. and one had slightly over 4100 sq. ft.
- A larger than average lot size, that’s also usable. All but one of the 6 properties had a lot size of approximately 10,000 sq. ft. or more. The property that had the smallest lot was built in 2014.
- A nice view and/or privacy. Although 3 of these homes had a view (either partial, bay, or canyon views, all of these homes are secluded and don’t look directly at or into a neighbors home.
The fact that we have Facebook, Google, Apple and many other tech companies right in our back yard has given many buyers much more purchasing power than in previous years (not all, as most buyers do not work for these companies, but still, many of them do have very well paying jobs). The low inventory that we’ve experienced all year has made prices soar, and that has pushed a lot of homes over the $2 million mark. In addition, the great schools that Belmont has to offer as well as the proximity to major highways makes it ideal for families and commuters.
September 5th, 2014 No Comments »
We are pleased to announce our newest listing that offers amazing panoramic views of San Francisco and the Peninsula. This home offers 3 bedrooms, 2.5 baths, including a large master suite where you can enjoy the views up until the moment you go to bed and right when you wake up in the morning! A renovated kitchen with a family room offers access to the large deck and patio. There is also a formal living room with a fireplace and a formal dining room on the main level. This home offers many amenities, and you can get all the details of this home by visiting www.2509Hastings.com.
THIS PROPERTY WILL BE OPEN ON SUNDAY, SEPTEMBER 7, 2014 FROM 1-4 PM. DROP BY, WE’D LOVE TO SEE YOU!
September 2nd, 2014 No Comments »
We hope everyone enjoyed the long labor day weekend! There were a total of 23 Belmont home sales for the month of August, 3 less than July. The median sales price for August was $1,205,000. July saw a number of home sales at the higher price point. Although the summer months tend to slow down a bit and many parents are busy with getting in back to school mode, the market is still strong, yet there is minimal inventory, less than 2 months worth (1.8 months to be exact). Open houses continue to get a lot of traffic (even during the holiday weekend) and it’s quite possible that the market activity will continue strong through the upcoming holiday season.
730 Holly Road- Listed at $1,899,500 and sold for $1,898,000
11 Highlands Ct. – Listed at $1,698,000 and sold for $1,960,000
2627 Lincoln Ave.- Listed at $1,599,000 and sold for $1,660,000
1526 Ridge Road- Listed at $1,495,000 and sold for $1,618,750
2524 Hastings Dr.- Listed at $1,288,000 and sold for $1,350,000
1914 Hillman Ave.- Listed at $1,389,000 and sold for $1,440,000
2008 Forest Ave. – Listed at $1,288,000 and sold for $1,260,000
22 College View Way- Listed at $1,288,000 and sold for $1,675,000
2316 Wooser Ave.- Listed at $1,199,000 and sold for $1,340,000
2608 Hastings Dr. – Listed at $1,150,000 and sold for $1,240,000
2506 Coronet Blvd.- Listed at $$1,099,000 and sold for $1,165,000
1144 Village Dr.- Listed at $1.098,000 and sold for $1,156,000
1172 Villa Ave.- Listed at $978,000 and sold for $1,271,000
8 Antique Forest Lane- Listed at $949,000 and sold for $1,000,000
1901 Arbor Ave.- Listed at $925,000 and sold for $1,205,000
907 Academy Ave.- Listed at $900,000 and sold for $1,025,000
2041 Alden St.- Listed at $899,000 and sold for $925,000
2424 Coronet Blvd. – Listed at $899,000 and sold for $875,000
2006 Monroe Ave.- Listed at $899,000 and sold for $1,000,000
516 Marine View Ave.- Listed at $850,000 and sold for $890,000
1160 Village Dr.- Listed at $849,000 and sold for $926,000
200 Live Oak Way #204- Listed at $818,000 and sold for $825,000
1705 Hillman Ave.- Listed at $799,000 and sold for $848,000