Look, It’s a bird, it’s a plan no it’s a Dirigible?
Actually it's not a blimp at all. Look to the skies on a calm day around the Bay Area and you just might spot the world’s largest Zeppelin in your neighborhood. What’s it doing here? It was the brain child of Brian and Alex Hall to offer sightseeing flights around the Bay area. This lofty business venture got its start in 2006 when Brian first rode in a Zeppelin while in Germany and immediately was hooked. First, an order needed to be place for only the fourth Zeppelin NT in the world. Then, just two years later on October 23, 2008 the Zeppelin “Venture†was launched from Moffet field. This isn’t your mother ship Hindenburg; it’s filled with Helium instead of Hydrogen and uses gas engines to propel itself through the skies at lightning speeds up to 35 MPH. The Zeppelin NT07 airship can carry up to 12 passengers and is the largest airship flying in the US. At 246 feet in length, it is more than 50 feet longer than the largest blimp. It uses inert gas helium for lift, and vectored thrust engines for flight. So what’s the difference between a Blimp and a Zeppelin? Blimps are non rigid dirigibles and Zeppelins are rigid (and can carry more passengers). The Hindenburg by contrast was much larger and filled with Hydrogen (an extremely volitile gas). At 805 ft long, it could carry 73 passengers and flew at a blazing 80 MPH. Oh, and any DIRECT-IBLE flying machine can be called a dirigible.
(I took this picture out of my sunroof while in San Mateo)
Belmont’s housing picture settled down a bit as homeowners who had stalled temporarily in the wake of October’s housing news began to list their homes for sale for a pre-winter push.
→NEW Click on the play button to hear a brief market overview.
There are 53 homes for sale in Belmont, down from 57 in the last several weeks.
Five new listings have recently hit the market, three have been re-listed and there were three that closed escrow as well.
ACTIVE HOMES
1943 Hillman—4 Bed 3.5 Bath 2,969 Sq. Ft. home on a steep up slope 8,500 Sq. Ft. lot. LISTED for $1,195,000. OK, the lot is steep and if you don’t mind stairs you’ll actually find a level rear yard area out back. Nicely appointed home with remodeled kitchen. Listed By Val Shevelyov, Quest Real EstateOPEN HOUSE INFO NOT AVAILABLE.
528 Davey Glen—4 Bed 2.5 Bath 2,190 Sq. Ft home on a 7,350 Sq. Ft. lot LISTED for $1,139,000. Davey Glen is a busy street with mixed use (i.e. Condos, homes, businesses).Note—this home last sold in 1997 for $479,500. And who says Peninsula Real Estate is a bad investment. Listed By Bryce Cook, RE/MAX TodayOPEN SUNDAY 11/23 1:00-4:00
1902 Miller Ave.—3 Bed 2.5 Bath 2,030 Sq. Ft. home on a 9,800 Sq. Ft. lot LISTED for $999,999. This home has a nice setting and is reminiscent of the Brady Bunch home of the 1970’s—though it has been updated. Listed By Wendy Grainger, Wendy P. Grainger, BrokerOPEN SUNDAY 11/23 1:00-4:00.
3402 Lower Lock—3 Bed 2 Bath home on a 5,500 Sq. Ft. lot LISTED for $899,888. This home shows impeccably and has a very nice secluded rear level yard. Listed By Debbie Wilhelm, Coldwell BankerOPEN SUNDAY 11/23 from 1:40-4:30.
1941 Alden Street—3 Bed 1 Bath 1,330 Sq. Ft. home on a 5,500 Sq. Ft. lot LISTED for $ 865,000. Nice updated ranch home and it shows rather well. Elevated in the rear—level; yard below. The street is moderately busy. Listed by Debbie Sharp, Alain Pinel RealtorsOPEN SUNDAY 11:23 1:00-4:00 and again on 11/30 (same times).
1021 Elmer Street (no photos)—3 Bed 2 Bath 1,250 Sq. Ft. home on a level 5,000 Sq. Ft. lot in Sterling Downs (AKA east side of El Camino). LISTED for $689,000. This is a pre-foreclosure sale bargain hunters start your engines… Listed by Cameron Thompson, Alain Pinel RealtorsOPEN SUNDAY 11/23 2:00-4:00 and again on 11/30.
RE-LISTED HOMES
2007 Monroe Ave. 2 Bed 1 Bath 930 SQ. Ft. home on a 4,000 Sq. Ft. lot. RE-LISTED for $655,000 with no price reduction. This home has potential. Don’t let the 930 Sq. Ft. scare you away—it has a bonus room below which adds another 250 Sq. Ft. probably. Listed By Peter Vece, Dumas & Company
1909 Lyon Ave. 3 Bed 2.5 Bath 1,629 Sq. Ft. home on a 5,150 Sq. Ft. lot LISTED for $865,000 down from $869,888. The real price reduction was from $912,000 back in August. This home is now a very good deal and someone should jump on it. Nicely appointed and very clean. It has a level rear yard on a ½ level down access. Listed By Celeste L. Pagan, Carlmont AssociatesNO OPEN HOUSES LISTED.
2422 Hastings Dr. 3 Bed 2.5 Bath 2,250 Sq. Ft. home and a 4.032 Sq. Ft. lot RE-LISTED for $1,108,000 (same as before).These homes are along Hasting Drive and they are usually attached, though some are technically detached. This one has a canyon view and it’s an end home on the block so it has a neighbor on only one side and great canyon views out the other two (the front has a street view). It started at $1,038,000 back in August 2008 and was lowered to $1,018,000. It didn’t sell and a new agent listed the home at the same price. Listed By Jun Kyu Chung, East West Realty
SOLD HOMES
↑1500 Escondido Way—4 Bed 2.5 Bath 2,080 Sq. Ft. home on a 17,120 Sq Ft. Lot LISTED for $1,250,000 SOLD for $1,375,000 in 12 Days. This home was unique in that it has a huge level lot and is located near downtown on one of Belmont’s premiere secluded cul-de-sac streets. The only negative to this home was it backed up to Ralston Ave. and Chula Vista so it does get some street noise. Other than that, it’s a one-of-a-kind home and worth every penny they paid over for the home.
↓1314 Paloma—3 Bed 3 Bath 2,390 Sq. Ft. home on a 4,320 Sq. Ft. lot. LISTED for $995,000 originally. It was lowered to $925,000 after three weeks and two weeks later it received a contract and SOLD for $900,000.
It’s interesting to note that the two homes above were both remodeled yet the smaller one received $425,000 more. One can never underestimate the allure of a park-like level rear yard. It’s also interesting to note that appraisers typically will allow only $5.50 per square foot credit for land. At that rate Escondido should have only received $970,000 rather than the $1,375,000 it did. Clearly appraisers are way off on estimating the value of usable land vs. just land (i.e. a sloping lot).
↓809 North Road—3 Bed 1.5 Bath home LISTED for $629,900 SOLD for $607,402 in Nine days. This was a great starter home on the west side of El Camino.
This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this intended to be specific to your situation-always consult a specialist who is familiar with the details of your situation.
Information deemed reliable but not guaranteed. This is not intended to be a representation of homes listed or sold exclusively by Drew or Christine Morgan or Carlmont Associates.
Belmont's City Parks and Recreation department would like to remind you about some fun, free and low cost events coming up. The Holiday Craft Faire in Twin Pines Park, Belmont, is on Sat. and Sun., November 22nd and 23rd – FREE for visitors! Many vendors with all handmade items, all price and interest ranges.
I found the picture that accompanied the article in the San Francisco Chronicle, Saturday November 15th 2008 title “Increase in Deaths, injuries on dangerous San Francisco Streets†a bit symptomatic of the problem.
The article is reciting the statistics on just how dangerous the streets are for pedestrian and bicyclists and the picture shows a pedestrian walking right out in front of a car without even looking at the driver of the vehicle which is poised to potentially run him over.
(click on the picture for a full-sized view)
Don’t get me wrong, in most accidents drivers are in fact at fault and hitting pedestrian accounts for more than half of the fatalities each year in San Francisco. That doesn’t mean we should subjugate personal responsibility or common sense for laws. Traffic lights are there to tell drivers they need to stop, and laws are there to help enforce that they do so, but if they fail to stop who really wants to be dead right?
I applaud Belmont for installing the flashing crosswalk signals to alert drivers that a pedestrian is about to cross. This extra “heads-up†could save many lives if it were employed in San Francisco. And while their proposal to install cameras to award citations for failure to stop will generate much needed traffic fine revenues, it will do little prevent accidents; remember the citations are given after the fact—once there has already been a violation. That said, if the fines generate enough revenue to be self-sustaining or better yet offer extra revenue to fund lighted crosswalks I’m all in favor.
Not being privy to the statistics, intuitively, I’ll bet that the person who purposely runs a red light does so by just missing a yellow one. If the lights were timed with a little more delay, a pedestrian would not receive a green light until well after the opposing light had turned red. The real danger is in drivers who plow on through a red light oblivious to its warning, well after the driver should have stopped—giving pedestrians ample time to wander out in front of an oncoming car.
When I was a child my mother taught me to stop, look and listen before crossing a street. Somehow those simply life saving lessons have been lost as people become more reliant on traffic lights and less reliant on common sense—traffic signals do not substitute for common sense and personal preservation. Sure people are supposed to stop, but pedestrians fail to remember that sometimes they don’t, or can’t always do so.
I’ve driven around Belmont for many years and I’m always amazed as I approach an intersection to see for example, a mother with a stroller fixated on the WALK signal in front of her and not on whether I am poised to heed my signals. They’ll blindly push their stroller right out in front of my vehicle on the assumption that in a perfect world I will see the red light, heed the laws, that I will physically be able to stop and my car will mechanically be able to do so—should you really have that much faith in the average driver or the maintenance of their vehicles?
Look, listen, be aware of your surroundings and a lot of these accidents could be avoided.
Located in the coveted Belmont hills enclave of Belcrest Gardens
in Hallmark, this well appointed home enjoys large rooms and a well
designed floorplan.
Two of the most highly sought after attributes in Belmont is a
home with a level yard or 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.
Price has not yet been determined–call for details
You’ve no doubt heard the term “staging†a home but there’s a lot more to getting your home ready for sale than just bringing in plants and re-arranging furniture.
The terms “staging†typically implies a professional designer has been retained to make a house look like a model home, yet there’s a lot more that goes in to “staging†your home for sale. Often times, a home will need a complete facelift as is often the case with trustee sales. Vacant homes always show better professionally staged, and even homes with modern amenities can use some detailing.
We break down staging into two categories. 1) Vacant homes for whole house staging and 2) Occupied homes for staging augmentation. Professional designers are akin to artists and often prefer a vacant home to an occupied one since they are beginning with a blank canvas or palate if you will.
But getting a home ready for the final touches of furniture, plants and pictures often requires weeks of renovation. We coordinate with our design consultant to first identify our market segment—the buyer who will likely purchase the home. Then we take instructions as to what color scheme to employ and begin the process of renovation. Some of the typical enhancements include:
·Fresh Paint
·Refinished hardwood flooring
·New carpeting
·New bathroom or kitchen tile, granite or other contemporary materials
·Kitchen cabinet re-facing or replacement
·Bathroom fixture replacement
·Hall and entry lighting enhancement
·Landscaping and fresh lawns
There’s no need to be anxious about the process of these renovation. We coordinate all enhancements with our professional team of property enhancement experts from tile people to painters, handyman, hardwood floor experts and carpet installers.
The video Podcast you are about to see highlights several homes we’ve staged for sale and shows before and after slides. If ever the saying “A picture is worth a thousand words†rings true it’s in this video—enjoy.
You’ve no doubt heard the term “staging†a home but there’s a lot more to getting your home ready for sale than just bringing in plants and re-arranging furniture.
Listen your our Video Podcast to see and hear more…
While reports of drastic median price drops continue in the media, isolated areas which are less impacted receive little or no attention. At some point one might wonder why the news isn’t about areas that are not as impacted—why are prices holding up so well when other areas are suffering the greatest set back in years. But those turning to the mass media are clearly missing the whole story. This week, on June 1st, the Open Homes Guide section of the Sunday edition of the San Francisco Chronicle ran the home price closings—for April!
Forget about the fact that they are typically 1 to 1.5 months behind the market, they dutifully report the numbers without analysis or professional perspective.
May home sales statistics for Belmont are in and while there are no real surprises, that may be the best news yet.
↑At 17, there were four fewer Belmont home sales in May than April. Year over year (adjusted for seasonal selling patterns) there is no change over 2007. In 2006 there were 21 sales in May and at the height of the market in 2005 there were 29. Considering what the rest of the state is going through, we consider this a positive indicator for home values.
↓Of the 17 sales five homes sold over asking, one sold at the asking price and 11 sold under the seller’s asking price. That’s not as strong as last month where nine homes sold over and 10 sold under while two sold at asking price.
↗The average home which sold over asking sold for $61,000 over the seller’s asking price in seven days. The one home that sold at the seller’s asking price sold in one day. Of the 11 homes that sold under asking, those had been on the market an average of 89 days and sold for on average $30,500 less than the asking price. Contrasted to April where the average home sold for $31,000 over asking in 18 days, this is a relatively good sign and clearly one more indicator that seller’s should hire a local professional to assist them in pricing their home right.
↗The median price was $1,098,000 in May. Just last month it was only $930,000. The median size home sold in April was 211 Sq. Ft. smaller than in May. At current going rate of $ 574 per square foot, that adds another $121,000 onto April’s median home price, or conversely, subtracting that from May’s median home price (which is closer to the actual median home size in Belmont), we arrive at an adjusted median home value of $977,000 for May—statistically no change over April’s. Nevertheless, no change is welcome and to have even a slight indication of price stabilization at this point is a positive market indicator.
Belmont’s host to a few casual dining spots. Marvin Gardens is a good one and has been one of my favorite haunts since I was in college. Locally famous for its Starvin Marvin hamburger–a 1/3rd pound burger on a artisian soft roll–they’ve added pizza and appetizers like chicken wings since the original days. Gone are the days of an all male crowd arriving solely on two wheeled vehicles and throwing peanut shells on the floor. Today, the more family friendly eatery offers a relatively clean indoor or outdoor dining experience. Stop by and say hi to Jamie who bought the beer garden pub from Chip several years back. 1160 Old County Road, Belmont .
We’re busy compiling the numbers from 2007 to see where the housing market ended compared to 2006. Of course the peninsula market fared relatively well compared to many California cities and that of other states.
Why did certain areas do better? We look at understanding the issues which caused the current market conditions to predict which areas will be impacted more than others.
The jolt that knocked over the housing house of cards was interest rates and adjustable teaser rates indexing to higher levels. In the past five years many investment properties were purchased with adjustable loans. This enabled an investor to break-even on their mortgage payment vs. the rent they could charge. With properties appreciating at levels from 20-50% per year, it’s easy to see why so many investors jumped at the chance to buy in a new development. A new home often means great financing (available through the developer); purchase incentives, literally no maintenance issues; in fact many speculators purchased unfinished homes and re-sold them six months later at completion for a tidy profit.
The first shoe to drop:
When interest rates began rising many speculative investments became less lucrative. As investors began selling off properties in droves, inventory grew and home values dropped.
The second shoe to drop:
Owner occupied homeowners also found themselves in difficult situations. Many had qualified for their loans based on a teaser start rate. Once the rates fully adjusted, they could no longer afford their home (the practice of qualifying people for a loan at the teaser start rates has been discontinued by every lending institution we know). Faced with lower values, many could not sell their home for what they owed. The result was an increase in foreclosures and short sales.
Both of these groups faced similar dilemma, as they could either no longer afford to own their home, or it no longer made financial sense. Forced with foreclosure, the need to sell, or the desire to liquidate, the market was flooded with the mortgage carnage crisis as evidenced by the staggering inventory levels.
Areas that were hit hard and will continue to see a downturn in values in 2008 have the following in common:
·Rampant growth spawned by increased demand
·Speculative ownership
·Over development of new housing projects
·Room for expansion into new developments and housing units
·An abundance of sub-prime loans
This is precisely why the Peninsula should fare better than other areas.
·There is little room for expansion
·Few new development has occurred in the past five years as compared to areas with growth potential
·High paying jobs are plentiful
·Low rate of speculative ownership
·Few sub-prime loans
Of course not to be overlooked or under appreciated is the desire to live in the technologically and culturally rich Bay Area.
However, it’s entirely possible we are on a precipice which could collapse at any time. What is impacting the Peninsula is the rising cost of energy–especially gasoline. What could have an incalculable impact would be a prolonged recession and loss of local jobs; either of these would undoubtedly bring a decrease in home values to the Peninsula. So much of the values in the Bay Area rely on the perception that it’s a great place to live. A natural disaster (such as a large earthquake) or terrorist attack would also have a detrimental economic effect on housing. Buyers who are sitting on the sideline and not availing themselves of the current conditions are essentially betting on any one of the former conditions manifesting in the near future.
Who’s buying a home right now? With appreciation levels essentially stalled for the time being, savvy investors will take advantage of other’s misfortunes and home buyers previously priced out of the market will seek opportunities in the less competitive market conditions.
The Civil Grand Jury directed Carlmont High Scholl to clarify its own open-enrollment program and limit the number of students who can transfer, increase capacity, or change school boundaries.
Carlmont is over its official capacity of 2,100 students. Administrators say the district’s use of open enrollment – which allows students to choose a school outside the one designated by attendance boundaries – along with the popularity of Carlmont has caused the shift.
Superintendent Pat Gemma said for starters, the district plans to allow only about 80 open enrollment transfers to Carlmont for the freshman class that will start next fall, compared to about 220 transfers that were let in this fall.
Students with siblings at the school will get the highest priority, followed by those who chose Carlmont after making a documented effort to educate themselves on the options. ""There’s no question in my mind nor the mind of the principal at Carlmont that 2,300 students at Carlmont is too many," Gemma said.
With that in mind is seem unlikely that Carlmont will be choosing the option of increasing capacity, and will likely be forced to move school boundaries. Currently, any eligible Belmont resident can go to Carlmont High while only certain parts of San Carlos may attend providing they are within the designated school boundaries. The third option has been to apply for an intra-district transfer to Carlmont.
This dilemma could have an impact on housing values as buyers are apparently more inclined to pay extra to live within the Calrmont School boundaries. The folks who bought in San Carlos thinking they were well within the Carlmont High School boundaries may find out that everything has changed—including what someone will pay to live there.
