Belmont Home Sales – April 2010

Top of FormFirst we'd like to thank the many readers who have signed up on our web page for email newsletters which cut down dramatically on our costs and has helped us tread lighter on the environment.

There are many positive indicators in Belmont’s housing market from just a year ago. This data is from the MLS from April 2010, when the government tax rebate was still being offered. That said, only two of the 14 sales in April could have potentially qualified for the rebate since it was capped at a sale price of $800,000.

Below, we’ve added a new feature–a short summary of the homes which sold. We think this may help you gleam more information than just the address.

April 2010 Stats for Belmont 

(click on the window for a full size chart)

Wrap-Up Belmont Housing Market Review April 2010

Sales

Sales year over year for the month of April were almost unchanged at 14 for this year as compare to 13 last April.

Median Price

The median price jumped from $810,000 last April to $967,500 (19%) but the size home which sold in the two periods was also exactly 19% larger which effectively wipes out any real gain—but it looks good in the media.

Days on the Market

The time it took to sell a home dropped from 64 last year to only 44 this year.

Percent Received

Of course when homes sell faster that usually means the market is a bit stronger and we’d expect to see that this April 4 homes sold over asking, 1 at asking and 8 under asking as opposed to last year when none sold over, 4 sold right at asking and 9 sold for less—on average receiving 96.3% of their asking price last year compared to 99% this year.

Summary

It will be interesting to see what impact the end of the tax credit may have on real estate. We’ve already pointed out that it really shouldn’t impact Belmont that much however, if the media gets wind of sales dropping off in the coming months, you may see a pull-back on the part of buyers. The frenzied pace of the last few months caught on like a bad virus leading many to start bidding homes right back up again playing sort of a game of “musical chairs” to see who could get a home before the money ran out. All of which may slow back down—we’ll see…

706 ALAMEDA DE LAS PULGAS, Belmont 94002 (Belmont)
$445,000 Beds: 2 beds Baths: 3|0 baths

DOM: 41   MLS: 81011114 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

2, 3|0

SqFt:

1,880

Yr Built / Age:

1927 / 83 years

Assoc Fee:

Lot:

13,410 sq ft

Pricing/Dates

List Price:

$399,900

Sale Price:

$445,000

Sale Date:

03/22/2010

COE Date:

04/23/2010

OffMktDate:

Opportunity abounds with this private, tree-laden property nestled in the Belmont hills. Main house is 2 bed, 2 bath with a lower-level studio. One-of-a-kind secluded retreat, minutes from everything! Home needs some TLC but the value is in the land.

 

1950 ALDEN ST, Belmont 94002 (Belmont)
$670,000 Beds: 3 beds Baths: 1|0 baths

DOM: 5   MLS: 81010737 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

3, 1|0

SqFt:

1,390

Yr Built / Age:

1947 / 63 years

Assoc Fee:

Lot:

7,840 sq ft

Pricing/Dates

List Price:

$649,500

Sale Price:

$670,000

Sale Date:

03/13/2010

COE Date:

04/09/2010

OffMktDate:

04/10/2010

Lots of elbow grease and imagination required here. Bonus room down stairs may be non-conforming due to ceiling height. Large rear yard and patio area. Freshly painted inside and out. Great area and schools. Trustee Sale offered in "AS-IS" condition only.

 

1821 HILLMAN AV, Belmont 94002 (Belmont)
$800,000 Beds: 4 beds Baths: 2|1 baths

DOM: 77   MLS: 81003302 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

4, 2|1

SqFt:

2,210

Yr Built / Age:

1974 / 36 years

Assoc Fee:

Lot:

7,500 sq ft

Pricing/Dates

List Price:

$835,000

Sale Price:

$800,000

Sale Date:

04/10/2010

COE Date:

04/30/2010

OffMktDate:

HUGE PRICE REDUCTION!!Fabulous Bay views from this Belmont Hills home. Newly remodeled kitchen with granite counters & stainless appliances. Breakfast bar in kitchen, family room with fireplace, dining room & formal living room. Great views from master bedroom as well. Lots of storage, closets & storage shed outside. Lots of space for this price! Beautiful area, come see! Not a short sale!!!!

 

1815 HILLMAN AV, Belmont 94002 (Belmont)
$825,000 Beds: 5 beds Baths: 4|0 baths

DOM: 95   MLS: 80956110 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

5, 4|0

SqFt:

2,443

Yr Built / Age:

1964 / 46 years

Assoc Fee:

Lot:

7,500 sq ft

Pricing/Dates

List Price:

$825,000

Sale Price:

$825,000

Sale Date:

03/09/2010

COE Date:

04/16/2010

OffMktDate:

BAY VIEW!! Cozy and roomy tri-level home. Perfect set-up for in-law or au pair. Updated country kitchen and bathrooms. Huge closets. Laundry room. Spaces for theatre, pool table, game room, extended family.

 

Presented by Christine Morgan, Carlmont Associates, 650-508-1441, cmorgan@morganhomes.com

** Information contained on this report is designed for accuracy but is not guaranteed **

1825 OAK KNOLL DR, Belmont 94002 (Belmont)
$856,850 Beds: 3 beds Baths: 2|0 baths

DOM: 18   MLS: 81013424 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

3, 2|0

SqFt:

1,477

Yr Built / Age:

1950 / 60 years

Assoc Fee:

Lot:

8,593 sq ft

Pricing/Dates

List Price:

$879,000

Sale Price:

$856,850

Sale Date:

04/07/2010

COE Date:

04/20/2010

OffMktDate:

04/21/2010

A private and peaceful retreat. Adorable updated home. Master suite has bathroom with lots of natural light and a jetted tub. Living room/dining room combo includes custom stone-faced fireplace. Large back yard is decked for entertaining small and large groups. Access to yard from both kitchen and master bedroom. Vegetable garden. Detached 2-car garage plus additional workshop/storage area.

 

1930 BAYVIEW AV, Belmont 94002 (Belmont)
$859,000 Beds: 4 beds Baths: 2|1 baths

DOM: 51   MLS: 81007777 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

4, 2|1

SqFt:

1,960

Yr Built / Age:

1962 / 48 years

Assoc Fee:

Lot:

4,000 sq ft

Pricing/Dates

List Price:

$899,000

Sale Price:

$859,000

Sale Date:

04/11/2010

COE Date:

04/21/2010

OffMktDate:

Almost 2000 Sq. Ft. in great Belmont location. Warm & inviting Family Home with lots of room to grow. Hardwood Floors, Remodeled Master Bathroom. Separate Family Room, Living-Dining Room Combo, Large 2 Car Garage. Private Patio with Mature Landscaping. Easy Commute. Great School District & Quiet Location. Flat Level Back Yard. 4th Bedroom can be office/Bonus room. Fresh paint! New Carpet!

 

1935 HILLMAN AV, Belmont 94002 (Belmont)
$960,000 Beds: 4 beds Baths: 2|1 baths

DOM: 19   MLS: 81010508 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

4, 2|1

SqFt:

2,580

Yr Built / Age:

1980 / 30 years

Assoc Fee:

Lot:

7,242 sq ft

Pricing/Dates

List Price:

$998,000

Sale Price:

$960,000

Sale Date:

03/24/2010

COE Date:

04/27/2010

OffMktDate:

Sophisticated Tri-Level Contemporary in the Belmont Hills. Lovely Canyon views from many rooms. Soaring ceilings. Custom stained glass window. Arched walls. Hardwood floors and a fireplace. Huge master bath with Jacuzzi. Remodeled hallway & 1/2 bath. Wonderful secluded back deck for great entertaining. Move-in condition. This is your own private retreat. Don't miss your chance.

 

1919 ARBOR AV, Belmont 94002 (Belmont)
$975,000 Beds: 4 beds Baths: 3|0 baths

DOM: 8   MLS: 81011925 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

4, 3|0

SqFt:

2,000

Yr Built / Age:

1955 / 55 years

Assoc Fee:

Lot:

6,750 sq ft

Pricing/Dates

List Price:

$949,950

Sale Price:

$975,000

Sale Date:

03/20/2010

COE Date:

04/21/2010

OffMktDate:

CHARMING 2 STORY HOME W/ WONDERFUL VIEWS OF THE HILLS-HW FLRS-GRANITE KIT NEW 2003-DUAL PANE WINDOWS-NEW ELECTRICAL, NEW DOORS, REMODELED MASTER BATH-FP IN LR-FP IN FR-SECLUDED FRONT SLATE ENTRY-2 LARGE STORAGE RMS DOWNSTAIRS-DECK & FLAT LAWN ARE IN BACKYD-ROOF NEW 2003-MBR ON MAIN FLR-BREAKFAST BAR IN KIT-WALK TO SHOPS,CAFES, SCHOOLS & PARKS

 

Presented by Christine Morgan, Carlmont Associates, 650-508-1441, cmorgan@morganhomes.com

** Information contained on this report is designed for accuracy but is not guaranteed **

2815 MONTE CRESTA DR, Belmont 94002 (Belmont)
$1,198,000 Beds: 4 beds Baths: 2|1 baths

DOM: 2   MLS: 81010747 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

4, 2|1

SqFt:

2,690

Yr Built / Age:

1978 / 32 years

Assoc Fee:

Lot:

8,500 sq ft

Pricing/Dates

List Price:

$1,198,000

Sale Price:

$1,198,000

Sale Date:

03/10/2010

COE Date:

04/23/2010

OffMktDate:

Exquisite Resort-like Belmont Hills Haskins Estates on cul-de-sac setting. Huge Lot! Just remodeled, New Everything: Bamboo hardwood floors throughout, dual pane Windows, Roof, kitchen cabinets, granite counter-tops, stainless steel appliances, bathrooms, pool plastering and tile, pool equipment, landscaping, concrete driveway. Wood-beamed vaulted ceilings. Wood burning fireplace. A true MUST SEE!

 

2736 WALTHAM CROSS ST, Belmont 94002 (Belmont)
$1,200,000 Beds: 5 beds Baths: 2|1 baths

DOM: 11   MLS: 81006597 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

5, 2|1

SqFt:

2,550

Yr Built / Age:

1968 / 42 years

Assoc Fee:

Lot:

10,449 sq ft

Pricing/Dates

List Price:

$1,199,900

Sale Price:

$1,200,000

Sale Date:

02/23/2010

COE Date:

04/13/2010

OffMktDate:

Premier family neighborhood in beautiful Belmont. This spacious 5 bedroom 2-1/2 bath home features a fireplace in the Living Room & Family Room. Formal Dining Room has large window overlooking fantastic backyard with mature landscaping, sprinkler system and attractive deck. Filtered views of hillsides. This home is perfect for childhood dreams and parent comforts. Extra loft storage in garage.

 

640 SOUTH RD, Belmont 94002 (Belmont)
$1,237,000 Beds: 4 beds Baths: 3|0 baths

DOM: 243   MLS: 80934224 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

4, 3|0

SqFt:

2,780

Yr Built / Age:

1953 / 57 years

Assoc Fee:

Lot:

10,800 sq ft

Pricing/Dates

List Price:

$1,299,000

Sale Price:

$1,237,000

Sale Date:

03/16/2010

COE Date:

04/06/2010

OffMktDate:

4BR/3BA HOME WITH PARTIAL BAY VIEWS, MANY UPGRADES, SEPARATE DINING & FAMILY ROOMS, SOLAR HEATED POOL, CABANA, 3 CAR ATTACHED GARAGE.

 

2941 MONTE CRESTA DR, Belmont 94002 (Belmont)
$1,250,000 Beds: 5 beds Baths: 3|1 baths

DOM: 22   MLS: 81009245 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

5, 3|1

SqFt:

3,300

Yr Built / Age:

1970 / 40 years

Assoc Fee:

Lot:

5,000 sq ft

Pricing/Dates

List Price:

$1,298,000

Sale Price:

$1,250,000

Sale Date:

03/21/2010

COE Date:

04/23/2010

OffMktDate:

Exquisite Bay & City View-Home! Newly Remodeled in 2002. Gourmet Kitchen, High Ceilings, Hardwood Flooring, Tile Entry, Fireplaces, Large Master with fireplace, Large decks and more. Easy to show!

 

Presented by Christine Morgan, Carlmont Associates, 650-508-1441, cmorgan@morganhomes.com

** Information contained on this report is designed for accuracy but is not guaranteed **

2016 MEZES AV, Belmont 94002 (Belmont)
$1,325,000 Beds: 5 beds Baths: 4|0 baths

DOM: 10   MLS: 81013221 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

5, 4|0

SqFt:

2,393

Yr Built / Age:

1926 / 84 years

Assoc Fee:

Lot:

8,050 sq ft

Pricing/Dates

List Price:

$1,388,000

Sale Price:

$1,325,000

Sale Date:

03/29/2010

COE Date:

04/12/2010

OffMktDate:

Originally built in 1926,this charming hm is situated on a lrg.lot in a park-like setting.Gorgeous tree-lined character str. Stunning 2nd stry addition added in'08(396 sf).Richly appointed baths,sizeable mst.ste w/jetted tub & lrg.shwr+wlk-in closet.2nd suit up.Kit.w/caesarstone counters,Viking gas stove,dbl.ovens,farmhouse sink,lrg.banquette.Fam.rm w/built-ins & french doors to rear park-likyard.

 

2546 SOMERSET DR, Belmont 94002 (Belmont)
$1,350,000 Beds: 4 beds Baths: 3|0 baths

DOM: 10   MLS: 81013225 

Property Overview

Detached Single Family (Class 1)

Beds, Baths:

4, 3|0

SqFt:

2,500

Yr Built / Age:

1976 / 34 years

Assoc Fee:

Lot:

7,480 sq ft

Pricing/Dates

List Price:

$1,379,000

Sale Price:

$1,350,000

Sale Date:

03/29/2010

COE Date:

04/26/2010

OffMktDate:

Beautiful Hallmark home situated on a corner lot with tiled courtyard entry. Main level: formal entry,spacious living room w/fireplace and vaulted ceilings,Seperate dining room, kitchen overlooking the back yard,breakfast nook, Seperate family room with a fireplace, a full bath, three car garage, one converted into an exercise room.Upper level consists of a large master suite & 3 bedroos & 1 bath.

 

Presented by Christine Morgan, Carlmont Associates, 650-508-1441, cmorgan@morganhomes.com

** Information contained on this report is designed for accuracy but is not guaranteed **

Bottom of Form

Belmont Housing Market Report for November 2009

Well it’s another one of those tricky months where the numbers tell an inaccurate story when it comes to the value of Belmont homes.

Nov Stats for Bel

(Click on the graphic for a full size view)

MEDIAN HOME PRICE

Looking at the raw numbers, the median home value in Belmont dropped from $912,500 last November to $784,000 this year. That’s a whopping 14% decrease but wait—let’s look at what really happened.

This November Belmont had three short sales which greatly impacted the results. More importantly was that the majority of the homes sold were much smaller than they were last year. Larger homes sell for less per square foot (since land is a constant). Therefore if many smaller homes sell in a given period the price per square foot statistic will rise while the median home price will fall. Watch for this inversely proportional relationship to guess when there might be more to the story than meets the eye.

The median size Belmont home which sold in 2008 was 2095 Sq. Ft. and only 1568 in 2009. The difference of 342 square feet multiplied by the smaller price per square foot median of $488 last year means the adjusted median home value in Belmont this November would be $950,000, or an increase of 4%.

NUMBER OF SALES

The most impressive statistic is the number of sales which at 22 almost tripled from 2008. That speaks volumes as to consumer confidence in the local market. If sales were up because values were dramatically depressed, that would not be nearly as impressive. Of course the artificial interest rates people are enjoying right now are no doubt a contributing factor in the number of buyers who see an opportunity to lock in a home with a 30 year mortgage for under 5%–better move soon if that’s an important factor in your home buying decision.

DOM

The time it took to sell a home is virtually unchanged but it’s interesting to note, after much analysis, that the actual DOM this November was 121, not 39. This is because several of the short sales which took FOREVER to sell (usually because the banks are really bad at getting around to looking at offers) skewed the numbers (see the lower row of adjusted sales).

% Received

The percent a seller received of asking remains as a statistic, virtually unchanged; however this number varies dramatically from home to home.

What’s our take on this?

The Belmont market appears to be stabilizing in a comfort zone where buyers can still get reasonable deals and most sellers still have ample equity.

Call today if you are thinking of a move in 2010!

Belmont Market Report–October 2009

Changes to the Belmont home market seemed to have slowed recently.

Belmont October 2009 

(click the graph for a full sized image) Data retreived from the MLS.


 MEDIAN PRICE

In 2008 the median home price stood at $960,000 in the month of October. This year, it has dropped to $865,000.

Once again the numbers are a bit misleading. The size home which sold last year in October was 150 square feet larger. The adjusted median home price for Belmont this year should be $938,000 which would put the median drop at a paltry 2.2% year over year.

DOM

The sellers in Belmont are still receiving around 99% of their asking price, just that they have to ask a little less this year.

SALES

Sales dropped from September but were almost double what they were last year at this time–reflecting more confidence in the market. Of course this number may be influenced by a mad dash of buyers availing themselves of the $8,000 tax credit.

So far 1.2 million buyers have qualified for the $8,000 tax credit. 40% of those said they would not have considered buying a home without it. 70% said it weighed heavily on their decision to purchase e home. Really? All it takes is an $8,000 credit and people are willing to buy a home?

The graph below shows the sales in Belmont for the month of October 2009. Since homes are sometimes relisted, the total days on market and original list price totals can be skewed. We searched the records and reported the actual data—noted by the green dots in the columns. This helps portray a more accurate picture of the time it takes to sell a home and the price a seller receives. Of the 14 sales in October one sold for asking in ten days. Seven sold for less than asking and were on the market an average of 113 days when they received, on average, ~$14,000 less than their LOWERED asking price. The sellers that appropriately priced their home fared much better, receiving on average $2,000 more than their asking price (we defined pricing a home right when it sells within the first month) and sold on average in only 33.5 says. More money, faster sale, one wold think every seller would try to price their home right.

 

Belmont Week in Review–Week Ending October 25th 2008

The media continues its relentless barrage of horror stories and down at ground zero people continue to go on with their lives buying and selling homes to fit a lifestyle, not a portfolio.

There are currently 56 Active listings for sale in Belmont down from 58 last week. The six new listings are typical for the last big push before the holidays and the seven homes that went into contract demonstrate the desire to nest before the winter.

NEW LISTINGS

Six new listing hit the market this last week and one of them was ours—we’ll dispense with that one first:

2824 Ext 500 sh  2824 Hallmark Drive, 4 Bed 3 Bath, 2430 Sq. Ft. home LISTED for $1,298,900. Admittedly we are biased about this home not only because it’s our own listing but because we are also neighbors. Hallmark can be a busy street during commute hours but this home backs up to 300+/- acres of the Belmont Canyon open space with hiking and biking trails right out its back door. The orientation of the home is to the rear (as with most Belmont Height's homes) and you can’t get a more relaxing and tranquil setting. What truly makes this home unique is the level rear yard AND awesome canyon (and peek-a-boo) Bay Views. LIsted by Drew & Christine Morgan

OPEN SUNDAY 10/26 from 1:30-4:30 stop by and say hi, Christine and I will be hosting the open house. Here's a cool video tour if you want to get an early glimpse…

2835 Alhambra Drive 4 Bed 2.5 Bath 2,710 Sq. Ft. home LISTED for $1,348,000.

This is the second home to have been listed in as many weeks. Alhambra is a great seclude dead-end street in the Belmont Canyon. This home has seen its share of turn over as we’ve seen it sell several times. This time though it has been updated and shows very well. There’s no level yard out back but it’s a neat home. OPEN SATURDAY & SUNDAY 10/25-26 1:00-4:00. Listed By Philip Watson, Prudential California Realty

3416 Beresford 4 Bed 2.5 Bath 1,810 Sq. Ft. home LISTED for $949,915. Another nice Bay view home and with it, a yard two stories below. OPEN SUNDAY 10/26 1:00-4:30

Listed By Jimmy Chen, Out of Area Office

2949 Monte Cresta 4 Bed 2 Bath 1,670 Sq. Ft. home LISTED for $899,000. Too new to review but it’s open Sunday 10/26 from 1:00-4:00 Listed By Katrin Kaukull, Century 21 Alliance

3901 Christian 3 Bed 2 Bath 1,660 Sq. Ft. home LISTED for $868,000. This is a home where a thousand pictures isn’t worth one word—bad location. Nice home, but bad location. It’s the end home next to Ralston Ave. and every single homeowner and their cars must drive by this home to get in and out of this enclave. OPEN SUNDAY 10/26 1:30-4:30 Listed By Ron J. Bonhagen Sr., Intero Real Estate Services

3414 Beresford 2 Bed 1 Bath 890 Sq. Ft. home LISTED for $649,000. This is a contractor’s special so don’t think you’re getting any real deal here. Be prepared, but if you want a good project it’s OPEN SUNDAY 10/26 from 2:00-4:00. Listed By Rosa De La Rosa, Regency Prime Properties Inc

PENDING SALES

Seven homes went pending last week which is a good sign of overall activity in Belmont’s housing market—more than half were over a million dollars.

SOLD

Monroe â†“ 2037 Monroe 5 Bed 4+ Bath 2436 Sq. Ft. LISTED for $1,199,000 SOLD for $1,167,000 in 68 Days—19 after it was reduced.

This was a very nice home but it was on a smaller lot (4,000 +/-Sq. Ft.). It was remodeled nicely and had Belmont Country Club Canyon views. It was originally listed for $1,279,000 back in August. In September it was lowered to $1,199,000 where it finally received an offer a month after being reduced.

Square footage and/or acreage information contained herein has been received from seller, existing reports, appraisals, public records and/or other sources deemed reliable. However, neither seller nor listing agent has verified this information. If this information is important to buyer in determining whether to buy or the purchase price, buyer should conduct buyer’s own investigation. Information deemed reliable but not guaratneed.

The information contained in this article is educational and intended for informational purposes only. It does not constitute real estate, tax or legal advice, nor does it substitute for advice specific to your situation. Always consult an appropriate professional familiar with your scenario. These homes were not necessarily listed or sold by Drew & Christine Morgan.

Just Listed-2824 Hallmark Drive, Belmont, CA 94002



Drew & Christine Morgan (650) 508-1441




 
Drew & Christine Morgan
"Helping People Make Good Decisions"sm
(650) 508-1441

Just Listed–OPEN SUNDAY, OCTOBER 26th 2008 1:30-4:30
 

Located in the coveted Belmont hills enclave of Belmont Heights
in Hallmark, this well appointed home enjoys large rooms and a well
designed floorplan.

Two of the most highly sought after attributes in a home in Belmont
is having a level yard or a home with spectacular views–this home
has both! The rear of the home boasts a large family room with adjacent
dining area and kitchen which opens to a level rear yard with spectacular
pastoral canyon views.
Call for details and showing dates. (650) 508-1441
 
Features Include
 
Four Bedrooms
Three full baths
Lower bedroom for au pair or live-in guest
Hardwood flooring
Recessed lighting

Kitchen includes:

  • Birdseye maple cabinetry
  • New appliances
  • Recessed lighting
  • Corian counters
  • Eat-at counter
Excellent schools!
Dual paned bow windows
French doors
Approximately 2,450 Sq. Ft.
$1,298,900
(650) 508-1441


Belmont–Week in Review

The big news for the past few weeks is not what’s going on in Belmont but rather the world economies. We’ll leave that analysis to economists and instead show you how the credit crisis is affecting Belmont home buyers and sellers.

In fact the greatest factor affecting home sales is probably not the credit crunch at all, but consumer confidence. We’ve been through enough recessions to note that when consumer confidence is down so are home sales—understandably. But as Warren Buffet said yesterday, he buys when others are fearful and he’s fearful when others are greedy. If one were to apply that philosophy to the real estate market they’d be in great shape right now.

This graph is for the month of September over four years.

The news for Belmont’s housing market is not so grim. There are 58 single family homes for sale, once again up from last week but in perspective, right in –line with historical trends for this time of year.

The number of new listings (3) for sale is down which is good because the number of sales (2) are down too. This ratio is an important factor in gauging the housing market’s health. Currently the month’s supply of homes for sale in Belmont stands at 6.1—double that of just last month.

NEW LISTINGS

Pocket Listing:

What’s a pocket listing? It’s a home that an agent has listed but it’s not on the open market yet.

We have just such a listing which is scheduled to come on the market in time for this Tuesday’s agent tour.

2824Rear 3inch  2824 Hallmark Drive in Belmont—4 Bed 3 Baths 2,430 Sq. Ft. home LISTED for $1,298,000. Many updates–just needs some maintenance. Shows great and has a hard-to-find level rear yard with pastoral canyon views—backs up top 300+ acres of open space and Water Dog Lake.

OPEN SUNDAY OCTOBER 26th 1:30-4:40

Drew & Christine Morgan—Call us for details or a private showing (650) 508-1441.

Pullman 2116 Pullman 3 Bed 2 Bath 1,810 Sq. Ft. home for $1,069,000. This remodeled home should sell fast. There’s no open house listed for it but watch in Sunday’s Open House guide just in case. Listed By Charles Rauch, CR Properties

2030 Arbor-3 Bed 2 Bath 1,780 Sq. Ft. home listed for $879,000. Too new to review but it looks well priced. Check it out on Sunday’s open houses

Sun 

10/19 

1:00-4:00 

Sun 

10/26 

1:00-4:00 

Listed By Mary Duvall, Coldwell Banker-San Carlos

1218 North Road 3 Bed 2 Bath 1,270 Sq. Ft. home for $900,000.

Well, it’s not entirely a new listings but it was listed so long ago that we’ll qualify it as new. Originally listed back in August of 2007 for a whopping $1,250,000, it lasted until January 2008 when it was pulled from the market at $1,050,000. Nice house but a real cliff clinger home and no yard.

Sun 

10/19 

2:00-4:00 

Sun 

10/26 

2:00-4:00 

 Listed By Michael Robles, Coldwell Banker-Burlingame

SALES

PALMER ↑2404 Palmer 3 Bed 2.5 Bath 2,120 Sq. Ft. home LISTED for $1,085,800 SOLD for $1,100,000 in 4 days. One of our Belmont’s Best Deal picks of the week when it was listed.

↓2606 Carlmont Drive-4 Bed 2.5 bath 2,268 Sq. Ft. home LISTED for $1,068,000 SOLD for $1,050,000 in 7 days.

Belmont Housing Activity–Week Ending September 27, 2008

Despite the radical financial news in the headlines people continue to buy homes and move forward with their lives.

Belmont’s inventory rose from a three week pattern of 47 listings to 49. New listings accounted for six of those and two more were –re-listed bringing this last week’s total of “new listings” to eight.

Pending sales also rose and last week as six homes went into contract. Just three homes sold but in all likelihood that will increase next week as we approach the end of the month.

NEW LISTINGS

Anita_not_ours_2 19 Anita Court—4 Bed 3.5 Bath 1,965 Sq. Ft. home for $1,388,888

Not really on a court at all, in fact the address should have read 19 Anita Avenue—opps.

Nicely appointed new construction on two levels. The level rear yard is accessed through the master bedroom, not our favorite design. Views are of the lower San Mateo section of 42nd street but end with San Francisco in the distant background. Open Sunday, 9/28 from 1:30-4:30–Listed By Patricia Gill, Cashin Company

1314 Paloma—3 Bed 3 Bath 2,390 Sq. Ft. home for $ 995,000

Sound too good to be true? Price per square foot this sounds like a deal, and it is if you don’t mind living in a home clinging to a cliff. Nice bay views but don’t expect a large yard for running around. BTW—this last sold in 2005 for $945,000. Open Sunday, 9/28 from 1:30-4:30–Listed By Michael Johnston, Alain Pinel Realtors

Newcastle_2 100 Newcastle—4 Bed 2.5 Bath 1,760 Sq. Ft. home for $975,000.

This home is located out in Redwood Shores though actually part of Belmont. Nice commute to Oracle! Not Open until Sunday, October 5th from 1:00-4:00–Listed By Arnaldo Salazar, Worldnet Realty

1980 Alden—3 Bedroom 1 Bath 1,126 Sq. Ft. home for $799,000

Alden is a nice but busy street and these homes are up a slight hill. The home’s nice inside but still needs some updating. It’s got a terraced rear yard that is mostly level. Open Sunday, 9/28 from 2:00-4:30–Listed By Debbie Wilhelm, Coldwell Banker

2908 Belmont Woods Way—3 Bed 2.5 Bath 2,850 Sq. Ft. ATTACHED home for $ 1,100,000

These high-end townhomes are located at the entrance to Belcrest Gardens (Hallmark) area in Belmont. They sport dramatic high ceilings and they’re located in their own little enclave. Nice for those who want space and low maintenance yards—because you really don’t have one. Open Sunday, 9/28 from 2:00-4:00–Listed By Cheryl Price, Alain Pinel Realtors

Fifth_2 1540 Fifth Ave—3 Bed 2 Bath 1,350 Sq. Ft. home for $910,000. Open Sunday, 9/28 from 1:30-4:30. Too new to review. Listed By Frank E Nichols, Century 21 Alliance

Located in the lower Belmont hills on the border of San Carlos, this area is zoned mixed use with high density multi-unit housing so the area is a blessing of single family homes and well kept apartments. As you can see it has room for a boat, but not for cars and a boat. Too new for tour but it’s open Sunday, 9/28 from 2:00-4:30

SORRY—No BEST DEALS this WEEK. We just couldn’t find any to wrap our head around.

RE-LISTS

2776 Belmont Canyon Road—5 Bed 4+ Bath 3,000 Sq. Ft. home for $1,488,000

Still overpriced in our estimation, this cliffhanger home has nice views of San Francisco and a level yard are, though it’s three stories down to get to it. Kind of a choppy floor plan in our opinion but very stately. Listed By Debbie Wilhelm, Coldwell Banker

3715 Encline Way—4 Bed-3 Bath 1,965 Sq. Ft. home for $995,000

We didn’t care for this home though it did get a contract on it that apparently fell through. It’s back on the market at the same price. Listed By Barney Diamos, Diamosbusiness Group

PENDING SALES

Our Belmont’s BEST DEAL from two weeks ago went into contract on Tahoe and last week’s Best Deal on Palmer sold in just four says.

Also going into contract were 317 Malcolm, 15 Kittie Lane that’s been on the market FOREVER (268 days) and 2319 Coronet, once again.

SALES (Closed Escrow)

↓1826 Oak Knoll —4 Bed 2.5 Bath 2,460 Sq. Ft. home LISTED for $999,888 SOLD for $950,000. This home was on the market since June when it was listed for $1,159,000.

↑905 Avon Street—4 Bed 2.5 Bath 1,820 Sq. Ft. home LISTED for $999,000 SOLD for $1,050,000 in 24 days. Defying all logic, this home sold after more than three weeks for $51,000 over asking and the listing never even had a picture in the MLS. Wonder what it could have sold for?

When Not to sell Your Home

PODCAST SERIES

Podcast_mic

Real estate markets are cyclical and can last ten years as we’ve recently seen, but even within a cycle there are better times during each year in which to sell.

The short answer is the worst time is in the winter, with the best times being in the spring and fall but here’s why. Psychologically, it appears buyers are more motivated to get a home early on in the year. Writing a huge check to Uncle Sam in April could be one incentive, and fulfilling one’s New Year’s resolutions could be another—both are frequently mentioned. Whatever the reason more buyers come out in the spring and tend to pay more for a home (as a percent of asking) than any other time.

The year’s spring market started off rather unremarkable due to the uncertainty of real estate as a holding while many buyers took (and continue to take) a wait and see attitude.

This graph illustrates the favorable fall selling conditions with the seller receiving a high percentage of their asking price. Notice that in October the amount a seller receives typically bounces back up? We call this phenomenon the “fall bounce” as October sales are consummated in September/October.

That could make this fall a prime time to sell in this year’s cycle. Fall is typically another window of opportunity to sell and obtain the most money for your home and this one appears to be shaping up quite nicely. The market has been rebounding steadily since the beginning of the year, and appears it may crescendo this fall, at least for the year.

We wrote a series on our blog at BeautifulMountainBlog.org about when’s the best time to sell where we analyze the important market indicators to determine favorable selling conditions. Some of which are::

·         The month’s supply of homes for sale

·         The amount a seller received of asking

·         The days it takes to sell a home, or DOM

If you are considering moving this fall we’d be glad to answer any questions you may have about the process.

Download when_not_to_sell_a_home.mp3

Belmont Sales (Closings)–Week ending July 10, 2008

With 46 homes for sale, Belmont’s inventory is down this week. Twenty six more have a pending sale. Part of the reason the inventory is low this week is the number of new listings was ZERO. That’s very unusual for the summer market.

Seven homes went into a pending sale status last week (all but one was under a million dollars) and another six homes closed escrow–two from our Carlmont Associates Brokerage (see below). One of our picks for the “Best Deal of the Week” on Carmelita closed escrow for $710,000–$11,000 over asking.

Belmont Closings–Week ending July 10, 2008

H1

2000 MONROE AV
Detached Single Family (Class 1)

3 bed(s) /2 1/2 bath(s)

3,920 sq ft 

Belmont (Belmont) 

$998,888

MLS: 80809927

H3

2503 CARMELITA AV
Detached Single Family (Class 1)

2 bed(s) /1 bath(s)

5,829 sq ft 

Belmont (Belmont) 

$699,000

MLS: 80809521

108 NORTHAMPTON LN
Detached Single Family (Class 1)

3 bed(s) /2 1/2 bath(s)

3,077 sq ft 

Belmont (Belmont) 

$875,000

MLS: 80810653

H2

1850 ALDEN ST
Detached Single Family (Class 1)

2 bed(s) /1 bath(s)

5,200 sq ft 

Belmont (Belmont) 

$798,800

MLS: 80813453

1836 EL VERANO WY
Detached Single Family (Class 1)

3 bed(s) /2 bath(s)

6,864 sq ft 

Belmont (Belmont) 

$799,999

MLS: 80814548

1500 EL VERANO WY
Detached Single Family (Class 1)

4 bed(s) /3 bath(s)

12,580 sq ft 

Belmont (Belmont) 

$1,325,000

MLS: 80804800

** Information contained on this report is designed for accuracy but is not guaranteed **