Now, personally, I don’t enjoy Panda Express. I have nothing against it, but it just doesn’t cut it for me when I’m craving Chinese food. In fact, I’m not so sure I’d call it Chinese food, but I can’t argue with the fact that it does have it’s fans, and it seems that every time I’m in a food court, no matter what time of day, Panda Express seems to always have an endless line. While Panda Express may not be my place of choice, I see it as a good addition to Belmont. I was sad to see A.G. Ferrari go, but having a viable business like Panda Express is better than having a vacant retail space, and can only increase the foot traffic to surrounding business. So, Welcome to Belmont, Panda Express!!!

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The suspect is described as a black male in his 30’s, about 5′7″ tall and 180 lbs. No description of the woman’s vehicle has been given yet, however anyone that may have seen anything are urged to contact the Belmont Police Department Investigators at 650-595-7400.

This must have been a frightening incident for the woman, and luckily she was able to get away with her child before her vehicle was driven off. It would be helpful if a description of the vehicle, I’m guessing it might be easier to catch the suspect that way.

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While this sales price of homes is not typical for Belmont, it can be an indication that buyers looking for more space or luxury properties are willing to compromise a bit on location in order to find a home that offers the amenities they want/need, and get more for their money.

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Another common issue I see with homes that are listed with out of area agents is that sometimes they are grossly under or over priced.  Overpricing or underpricing a home can result in a big loss for the seller.  If a home is totally overpriced, most likely, it’ll sit on the market, and require a price reduction, if not multiple price reductions, before it is finally sold.  On the flip side, severely underpricing a property may attract the attention of the buyers, but if you only end up with one offer, then the sellers will probably walk away with a lot less money than if the home were priced at fair market value to begin with. 

Lastly,  local agents should be on tour every Tuesday or see any new listing in the area in order to understand the market, know the inventory as well as be familiar with homes that have previously sold, and your potential competition as a seller. Local agents will generally have a good working relationship with other agents (after all, other agents are usually the ones that have the buyers!).   An agent that doesn’t work in the market where your home is being sold on a daily basis will have difficulty pricing your home accurately. Seeing previous home sales will enable you to add or subtract for different features (i.e., an attached garage vs. a detached garage, a level yard vs. one big deck).  Don’t get me wrong here, I’m not bashing out of area agents, in fact, many of them probably do a great job and are very knowledgeable, but they probably do best in their own areas of expertise.

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In a town where the average sales price in 2010 was $908,159, a sales price of $1,900,000 is rare and sure to cause a stir. This property is located at 2835 Wemberly Drive Belmont, CA. in the Hallmark area of Belmont, listed by Terrace and Associates. We represented the buyers in this sale, and they were drawn to it because it was a one of a kind property.

The highest sales price in Belmont in 2010 was the property located at
900 South Rd. . listed by Hometown Realty, which sold for $1,588,000.

So what did this house have that other Belmont properties don’t? The main selling point was the level lot that’s over half an acre. Usable lots this large in Belmont are not typical, the fact that this lot was almost entirely level and usable increased the value significantly. The yard was completely landscaped and offered a black-bottom pool, a patio area, fire pit, level lawn, and basket ball court. The interior of the home was also completely remodeled with high-end finishes, and offered 4 bedrooms, 3 full baths, with an interior living space of almost 3000 sq. ft.

While many homes in Belmont will warrant a higher sales price, this is the highest we’ve seen in a few years. Other streets in Belmont that will tend to have higher than average sales prices are Escondido, Miramar Terrace, since they are excluded from the City of Belmont’s maximum square footage allowance of 3500 Sq. Ft.

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1. Mr. or Mrs. Seller will only show their home strictly by appointment- Okay, I get it, people are busy, and don’t want prospective buyers trampling through your house at all times of the day, but if you want your house exposed to as many people as possible, which leads to a, you guessed it, quicker sale, your home needs to be available for people to see, especially in the first 2-3 weeks of it being on the market. Buyers are anxious, the minute a house that may interest them hits the market, chances are, they’re jumping in their car to drive by it. So do yourself a favor, make your house easy for people to see, and you won’t have to deal with the showings for that much longer.

2. Seller Follows Potential Buyer Around House- Ideally, as a seller, you would do yourself a favor to not be home when a prospective buyer walks through the door. Buyers want to open cabinets and closets, get a feel for the space, imagine themselves in it. Doing that becomes a challenge when Mr. or Mrs. Seller is yapping their ear off about how many times they’ve hosted Thanksgiving dinner in their dining room. If you must be home, let the buyers in, be courteous, then stay out of the way. Trust me, buyers feel uncomfortable walking through a house when the owner is there, and 90% of the time, will rush through the house because they don’t want to disturb the seller or take up too much of their time.

3. Mr. or Mrs. Seller have overly improved their home, and are unrealistic about their return on investment. While a spa and cabana in your back yard are nice amenities, they don’t necessarily mean that you will recapture the money you spent on it. Common mistakes I see: remodel is too taste specific (ultra modern finishes or bright colors). Sure, paint can easily be changed out, but that red granite in the bathroom may not appeal to all buyers. Some good improvements to make: Replacing the roof, it needed, dual pane windows, remodeling kitchens and baths in neutral colors that can be customized with accessories and paint to suit your taste.

4. Mr. or Mrs. Seller think their home is worth $1,000,000, when most other comparable homes have sold for much less. This has to be the worst, yet very common mistake, that many sellers make. Over pricing your home is probably the number one mistake that sellers often make. You get the most showings and interest when your home first comes on the market. Drastically overpricing your home from the beginning means that most likely, you will be chasing the market, and ultimately, sell your home for less than what you could have had you priced it at market value from the get go. My advice? Look at the comps, be objective, and look at your home through the eyes of a buyer. Things that you have learned to live with and don’t bother you can be glaring to a buyer.

There are a number of things that you can do to get your home ready for sale, and the best part of it, some if it costs little to nothing. Remember, be objective, and listen to your agent. A listing agent should be able to give you honest advice about changes to be made, pricing, and negotiating offers. If you don’t trust your agents advice, chances are, you’re not working with the agent that’s right for you.

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Last week, I attended a Spring Social for the Early Learning Center at Notre Dame, which was held at Ralston Hall, in Belmont. Now I have driven by Ralston hall on a number of occasions, but this was the first time I had actually been inside.

Ralston Hall is a true Belmont treasure, offering a setting of beauty, luxury, and history. The hall is decked with crystal chandeliers, intricate furniture, wood inlay flooring, and some serious antique pieces of furniture. Today the hall houses the administration offices for Notre Dame de Namur University, but was originally built by William Chapman Ralston. The hall took 3 years to build, and a lot of the architecture and design mirrors that of Versailles just out of Paris, France. Some believe the hall is haunted and stories of lights turning on and off, creaking floor boards, and eerie sounds have all been reported. While I’m not going to go investigate the validity of these claims myself, one thing is certain, Ralston Hall is a beautiful piece of real estate that only adds to the unique character of Belmont.

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While it’s a tough situation to be in, I was somewhat relieved that the people I met with are at least being pro-active about their situation and weighing their options. Some of them had contacted their lenders to see about modifying the terms of their loans, and are still waiting months later with no relief or even an answer as to weather their lender/s are willing to modify their loans. The fact is, the odds of getting a loan modification are slim to none.

I decided to do a little digging to see just how many Belmont homeowners are at some stage of the foreclosure process, and the numbers were somewhat astounding. As of today, there are 73 single family homes that are either in the beginning of the foreclosure process, have been foreclosed on, or have an auction date set.

The worst thing to do if you’re not able to keep up with your payments is simply not doing anything. It’s important to look at your options to see what you can do. Some options other than foreclosure is to market your home as a short sale in efforts to settle with your lender for a short payoff, which usually affects your credit less negatively than a foreclosure. Another option is to give you house back to the bank before they foreclose on you, also known as a deed in lieu of foreclosure. It is best to consult your tax adviser to determine which option is best for you.

So what does this mean for Belmont Sellers and Buyers? We are probably going to see an increase in short sales over the next year, so for sellers, it means competing with short sales if you’re trying to sell your home, and the value of your home can be affected by a sold short sale if it’s in your direct neighborhood. The opportunities for buyers increase as the homes sold as short sales can be more affordable than standard sales, but be prepared to wait, since the only thing short about short sales is the name. In actuality, they can take months. Overall, we are off to a good start for 2010, but the key to getting your home sold fast is making it shine above the competition, and pricing it right the day it goes on the market.

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1010 Misty Lane, Belmont. Listed by Mary Yeargan of Remax Today. This is a beautiful home on a quiet street where not many homes come up for sale often. Very contemporary floor plan, but can use a face lift. I don’t think this one will sit on the market long.

3210 Longfellow, Belmont, listed by Vicki Ferrando of Intero Real Estate. It’s quite a climb to get up there, but no worries, there is an elevator! Not very often you see an elevator in a home in Belmont. This home is updated, has a nice floor plan and great entertaining space.

2019 Arbor Ave., Belmont listed by Christine Beard of Remax Today. This home has a lot of space, is completely updated, and an open floor plan.

604 Southview Ct. Belmontlisted by Janet Pepe Davis of Carlmont Associates. This home has very spacious bedrooms, nice views, and a good floor plan with a secluded master suite. This home also has a pool.

528 Davey Glen Belmont, Listed by Bryce Cook of Remax Today. This home has a lot of space and great outdoor space for the money. Probably one of the best deals in Belmont right now. This home was on the market previously, but at the new price, it should sell rather quickly.

1424 Sixth Ave. Belmont, listed by Weng Chia of City Life Real Estate. This home has charm and a lot of character and a bonus room.

332 Malcolm Ave. Belmont, listed with Robin Wrigley of Intero Real Estate. This home has a level yard, good floor plan, and is priced just under $800K. For the price and location, I wouldn’t be surprised if this home went with multiple offers. Yes, we are seeing some!

519 Cambridge Belmont, listed with Gregory Cohen of Coldwell Banker, this home is completely updated and has a living room and family room, an open floor plan, a nicely landscaped yard and a spa. Move in ready, and priced right.

520 Chesterton Ave. listed by Justine Ford of Remax Today. This home has an updated kitchen and and a good floor plan, but is also competing with other homes in the neighborhood that came on recently. There has been a sudden increase of inventory on the east side of Belmont this week.

506 Middlesex Rd. Belmont. Listed with Glenn Sennet of Coldwell Banker, this home has a lot of space for the price and will probably go with multiple offers per my conversation with the listing agent.

1105 North Rd. Belmont. Listed with Maria Schuster of Prudential Realty. While not technically a new listing, there has been a major price reduction from $689,000 to $599,000. While not the best location, the price correction should attract attention, however it is a short sale, so any potential buyer will most likely need some patience.

501 Middlesex Belmont. Listed with Tara Jaramillo of Coldwell Banker. This home is about 5 years old, and is completely remodeled from the foundation up! It boasts modern finishes and an open floor plan, plus a lot of space. Shouldn’t last long!

If you would like more information about any of these homes, don’t hesitate to contact us!

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2406 Casa Bona Ave. Belmont, CA. Listed by Janet Pepe Davis of Carlmont Associates.

501 Middlesex Rd. Belmont, CA. Listed by Tara Jaramillo of Coldwell Banker, Woodside.

533 Seagate Way Belmont, Ca. Listed by Kendra Wall of Vanguard Properties. This is a Bank Owned Property (REO).

808 Ruth Ave. Belmont, CA Listed by Loren Holden of Alain Pinel Realtors.

1500 Sixth Ave. Belmont, CA. Listed by Dominic Nicoli of Intero Real Estate. This is also a bank owned property.

While Belmont is generally not an area heavily saturated with bank owned properties and/or short sales, it seems as though we are seeing an increase.

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