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
August 25th, 2014 No Comments »
In the early hours of Sunday, August 24th, at about 3:20 am, Napa Valley was hit with an Earthquake with a magnitude of 6.1. Many people as far south as Redwood City were jolted out of bed (myself included!). What many people forget is that the shaking of a home, apartment or condo building, or basically any structure can cause damage to gas lines, leading to gas leaks and possibly fire. So, if you smell a rotten egg type of odor, it’s time to turn off your main gas line. For an instructional video on how to do that, click here. Be sure to also open windows to avoid gas building up in the air.
During an earthquake, many items such as glass, books, pictures or other objects are knocked out of place, so before you go searching for damage (especially if you’ve lost power), put on a sturdy pair of shoes to avoid stepping on broken glass or any other objects that may be unexpectedly lying on the floor. Caution should also be used when opening cabinets and closets. If you feel that the structure of your home has been compromised, it’s best to get everyone out safely and avoid re-entering until a qualified authority has inspected your home and has given you clearance to reenter.
Clearly these are just a few suggestions that can often go overlooked. Below are additional reminders that you can do before, during and after an earthquake:
- Secure large pieces of furniture and TV’s to avoid them tipping over or falling during a quake
- Know how to turn off your gas and water lines, and be sure you have the proper wrenches to do so.
- Be sure your water heater is braced properly. This is also a requirement for selling a home.
- Know the safety spots in every room. These can include under tables, doorways, or against inside walls.
- Know the danger spots in every room. These can include windows, mirrors, near heavy objects like TV’s or bookcases that are not secured properly.
- Use a land line in you need to call 911. You will have better reception than a cell-phone and it’s easier for ambulance, police and fire to locate you.
- Avoid using your phone if there is not emergency, as the lines need to be kept open for serious emergency calls to get through.
Spending a little time to prepare for an emergency will be well worth it should you ever be faced with a scary situation such as an earthquake or other natural disaster. The San Francisco Bay Area has many beautiful things to offer it’s inhabitants, but earthquakes are not one of them! Being prepared and staying calm could make all the difference.
August 8th, 2014 No Comments »
We are honored to be marketing this gorgeous property located at 2704 Sequoia Way! This home gets plenty of natural light, and offers 3 bedrooms, 2 full baths a living room and a bright and spacious family room kitchen! The master suite boasts an elegant bath with a large stall shower and Carrera marble finishes. The open kitchen boasts abundant cabinet and work space, a dining area and family room with a fireplace. The private drought friendly yard is perfect for entertaining or relaxing. This home offers many additional amenities, so come on by the Open House this Sunday, Auguts 10, 2014 from 1-4 and check it out for yourself!
MORE PICTURES ARE AVAILABLE AT WWW.2704SEQUOIA.COM
August 1st, 2014 No Comments »
The Belmont market saw a total of 26 home and condo/townhouse sales in July, one more home sale than June, 2014. As of today, there are 24 pending home sales, and 21 active listings on the market. The median home price in Belmont for July was $1,375,000. That is still an impressive number considering there was one holiday weekend in July, which usually puts a bit of a lull in the marketplace. With schools set to re-open soon, a time that usually tends to slow down, it is unlikely that home buyers will see any reprieve from increasing prices. Inventory has improved slightly thought, but with interest rates still historically low, it doesn’t look like the supply is going to meet the demand anytime soon.
830 Covington Road- Listed at $1,998,000 and sold for $2,350,000
2612 Wakefield Dr. Listed at $1,910,000 and sold for $1,910,000
2812 Wakefield Dr. – Listed at 1,898,000 and sold for $1,873,000
2804 Hallmark Dr. - Listed at $1,625,000 and sold for $1,760,000
2 Waterloo Ct. – Listed at $1,565,000 and sold for $1,565,000
2406 Coronet Blvd. - Listed at $1,799,000 and sold for $1,508,000
2627 Ponce Ave. – Listed at $1,498,000 and sold for $1,488,000
3034 San Juan Blvd. - Listed at $1,488,000 and sold for $1,548,000
1502 Pine Knoll Dr. - Listed at $1,449,950 and sold for $1,525,000
1750 Terrace Dr. – Listed at $1,399,000 and sold for $1,440,000
2611 Carlmont Dr. – Listed at $1,348,000 and sold for $1,475,000
7 College View Way- Listed at $1,299,000 and sold for $1,310,000
1220 Chula Vista Drive- Listed at $1,288,000 and sold for $1,235,000
1314 Paloma Ave. – Listed at $1,249,000 and sold for $1,225,000
1245 North Road- Listed at $1,325,000 and sold for $1,200,000
14 Rinconada Circle- Listed at $1,198,000 and sold for $1,250,000
812 Covington Rd.- Listed at $1,150,000 and sold for $1,480,000
3304 Plateau Dr. – Listed at $1,148,000 and sold for $1,508,000
1809 Ralston Ave. – Listed at $1,250,000 and sold for $1,300,000
1661 Francis Ave. – Listed at $989,000 and sold for $1,200,000
1000 LIve Oak Way #1003- Listed at $1.029,000 and sold for $1,100,000
2927 San Juan Blvd.- Listed at $899,00 and sold for $898,320 (1.% commission concession from buyers agent, effective price is $912,000)
1201 Notre Dame Ave. - Listed at $899,000 and sold for $1,050,000
1722 Hillman Ave. – Listed at $899,000 and sold for $1,150,000
2204 Thurm Ave. – Listed at $850,000 and sold for $850,000
400 Davey Glen Rd. #4329- Listed at $580,000 and sold for $580,000
If you have any specific questions about these homes or the Belmont real estate market in general, call us…..we know the market very well and can guide you through the buying or selling process!
July 24th, 2014 No Comments »
We are excited to launch our newest listing at 2316 Wooster Avenue in Belmont! This unique property offers 3 bedrooms, 2 full baths, and an expansive living room with panoramic bay views! A large kitchen offers a bright breakfast area, gas range, abundant storage space and access to the private yard.
The main level features the formal entry, living room, formal dining room, kitchen, two bedrooms and one renovated bath that offers an air jet tub, separate stall shower with frame-less glass and a dual vanity with lots of storage space. On the lower level you will find a bright family room, one spacious bedroom, a full bath and access to the two car attached garage.
This home is set back off the street, offering ample parking, a large front yard and privacy.
WE WILL BE HOLDING THIS BEAUTIFUL HOME SATURDAY, JULY 26TH AND SUNDAY, JULY 27TH FROM 1-4 PM!
To view more details and photos on this property, visit www.2316Wooster.com
July 1st, 2014 No Comments »
June saw a total of 25 home sales, two of which were townhouses/condos. 2014 Has been a very strong market for Belmont real estate and Belmont sellers, with a median home price of $1,220,000, compared to a median home price of $912,000 just two years ago. With summer in full swing and fourth of July right around the corner, the market has seemed to slow down just a tad. This is in part due to the fact that many families are off to vacation right now, graduation season has just ended, we’re right at the beginning of wedding season, and some buyers are just simply frustrated with the market. Although many of these buyers are frustrated, they know that more inventory coming, so will be back on the house hunt soon enough. Even though we have seen a very strong seller’s market for the past year and a half or so, I do think that the market is finally starting to normalize a bit, which could also explain the cool down. More inventory, plus a steady economy and low interest rates are all great ingredients for a normal, stable market. While home prices are projected to continue to be on the rise over the next few years, the rate at which home appreciation will rise may slow a bit. While the seller’s market has proven to be lucrative for many seller’s, it sure has been frustrating for most buyers, especially those getting bit out with all cash offers. A normal market with a healthy inventory that allows for seller’s to sell their homes at good prices, and buyers to get in to the market (especially first timers!) without so much competition and overbidding may be what’s in store for 2015.
1 Willow Lane- Listed at $1,350,000 and sold for $1,520,000.
2824 Alhambra Way- Listed at $1,299,000 and sold for $1,260,000
1557 Sixth Ave. – Listed at $1,299,000 and sold for $1,330,000
2331 Hastings Dr. – Listed at $1,199,000 and sold for $1,350,000
3410 Hillcrest Dr.- Listed at $1,188,000 and sold for $1,435,000
2302 Casa Bona Ave.- Listed at $$1,188,000 and sold for $1,200,000
1718 Notre Dame Ave. – Listed at $1,100,000 and sold for $1,105,000
2608 Belmont Canyon Rd. – Listed at $1,050,000 and sold for $1,205,000
2030 Lyon Ave. – Listed at $998,000 and sold for $1,101,000
2108 Cipriani Blvd.- Listed at $988,000 and sold for $1,120,000
1507 Folger Dr. – Listed at $969,000 and sold for $925,000
1710 Francis Dr. – Listed at $899,000 and sold for $1,180,000
2019 Lyon Ave. – Listed at $838,000 and sold for $855,000
400 Live Oak Way #407- Listed at $819,000 and sold for $825,000
496 Mountain View Ave. - Listed at $800,000 and sold for $800,000
1140 Granada St. - Listed at $799,000 and sold for $920,000
2411 Carlmont Dr. #106- Listed at $799,000 and sold for $850,000
507 Chesterton Ave. – Listed at $799,000 and sold for $940,000
1524 Desvio Way- Listed at $1,395,000 and sold for $1,505,000
2204 Ewell Rd. – Listed at $1,199,000 and sold for $1,250,000
3407 Lodge Dr. – Listed at $1,050,000 and sold for $1,152,500
2704 Prindle Rd. – Listed at $929,000 and sold for $960,000
1115 Continentals Way #201- Listed at $618,000 and sold for $635,000
1806 Notre Dame Ave. – Listed at $1,288,500 and sold for $1,525,000
2332 Hastings Drive- Listed at $1,150,000 and sold for $1,200,000
June 18th, 2014 No Comments »
Many sellers are still unsure if now is a good time to sell. As realtors, we often meet sellers who are uneasy at the thought of selling. Can buyers qualify for a mortgage? What’s going to happen to housing prices? Where will I go if I sell? These are all common and very valid questions. But, here are a few reasons why selling now is a good idea.
1. There is still pent up demand for Belmont homes. Although the inventory is increasing, there are currently only 13 homes on the market in Belmont, technically. Considering that one of those is a large land parcel that ‘s being sold as land value to be subdivided, that really only leaves us with 11 single family homes and one condo.
2. Sellers still has minimal competition right now. There is only about a 2.5 month supply of inventory on the market in Belmont right now. Historically, a 6 month supply is considered normal. In addition to that, the number of homeowners that would have liked to sell a few years back but couldn’t because they didn’t have enough equity are now seeing positive equity and putting their homes on the market, or getting ready to.
3. The home selling process is much faster now. The good old law of supply and demand is making homes sell much quicker than a few years ago, or even in a stabilized market with a healthy inventory. Most homes are selling within 7-10 days of being on the market, sometimes less if the seller will entertain a preemptive offer as opposed to waiting for an offer date. So the time a sellers home is “active” on the market is a pretty short amount of time. Even with a 30 day close of escrow, many sellers are actually renting their homes back from the buyers for 30-60 days to give them time to find their replacement property. A good agent will also negotiate favorable terms for the seller.
4. It’s a good time to move up. If your plan is to sell your current home and move up to a larger, more expensive home, the cost of doing that will go up in both down payment and interest rates. By 2018, prices are projected to appreciate by 19%, if not more. Interest rates are projected to be in the low 5’s by this time next year.
5. Maybe it’s just time to move on. Whether it’s not getting around to that remodel you’ve always planned, you want to be closer to family, or it’s time to retire and downsize or relocate, sometimes the benefits of moving on are outweighed by money and potential gain by holding on to your home. This is a question only you can answer, but if you’ve entertained the thought of selling your home, now could be an opportune time to take advantage of the market.
Click Here To View Belmont Average Price Per Square Foot over Two Years!