The holidays are in full swing and you can tell by the deafening silence that Belmontâ€™s housing activity is slower than the holiday deliveries promised by UPS. A very unscientific barometer is our phones are eerily quiet (which is not a bad thing one time of the year) but some ringing other than the Salvation Armyâ€™s bells would still be welcomeâ€”letâ€™s not jinx anything.
The inventory of homes for sale is at 40â€”down considerably from just a few weeks ago. Unfortunately itâ€™s not sales that have been driving the numbers lower but rather sellers have thrown in the towel for the year as ten homes were taken off of the market. We just closed escrow on the last two homes we will sell in 2008 and now itâ€™s so quiet that we decided to take a week off from posting homes for sale to take a break and trade the stress of work for the equally demanding stress of preparing for entertaining the family for Christmas. Donâ€™t get me wrong, we love the holidays but itâ€™s non-stop entertaining 24/7 for three days around here.
Our next post about the housing picture will be our year-end wrap-up in early January where we stick our necks out and make foolhardy predictions which can only backfire in todayâ€™s economy. Nevertheless weâ€™ll hold true to our word and re-cap last yearâ€™s predications (ugh) and try to realistically let you know where we think things are headed in 2009, as well as give the year-end results from one of the most tumultuous real estate years in history.
Stay tuned though as we'll invariably come up with a few fun posts before the year is out.
There have been only three new listings in Belmont in the past two weeks.
1 Debbie Laneâ€”3 Bed 2 bath 1,800 Sq. Ft. home on a 5,850 Sq. Ft. lot. LISTED for $ 998,000. This is a good solid home at a fair price and located on a small cul-de-sac on Belmontâ€™s eastern hills exposure (than means warmer). It has a usable level rear yard and hopefully youâ€™ll like the small pool or else you can fill it in. It last sold for $740,000 in 2003 during a lull in the market. No OPEN HOUSES listed. Listed By Deborah Mitchell Hawes, Coldwell Banker.
820 El Camino Realâ€”5 Bed 3 bath 1,800 Sq. Ft. home. This place has been a rental and really thatâ€™s what it should continue to be used for. It offers great tenant parking which of course is very desirable considering the home is on the El Camino. NO OPEN HOUSE LISTED. Listed By H. Craig Thorson, Red Hawk Real Estate Inc.
418 Yorkshireâ€”3 Bed 1 Bath 1,010 Sq. Ft. home on a 5,000 Sq. Ft. lot. LISTED for $ 577,900. With all of the sales in this area over $600,000 this home is priced to sell. Hereâ€™s a perfect well kept home at a discount. This is our BEST DEAL of the week. NO OPEN HOUSES LISTED. Listed By Michael A. Ames, Patriot Properties.
No Homes went into a pending status in the last two weeks.
Well, sold home actually.
$799,000 and sold in 33 days for $799,000. This home has potential but also needed a lot of work. Located on the site of the old golf course in Belmont and an appropriately named (and desirable) street.