Do you remember proposition 13? If you do, you probably own a home, but prop 13 may be dying a slow death, at least for industrial and commercial properties.
THE BACKSTORY: On June 6th, 1978, nearly two-thirds of California’s voters passed Proposition 13, reducing property tax rates on homes, and businesses by about 57%. Proposition 13 forever […]
With the election behind us and the stock market rallying to the excitement and anticipation of more economic stimulus and legislative gridlock, Belmont’s housing market continues to show signs of what could be viewed as stagnation at its best, or a double dip at its worst.
This October, housing sales for Belmont revealed a slower market […]
SALES
Home sales in Belmont held their own as 25 homes sold in the month of June. Last month as you may recall 34 homes sold, the most in as many months. In June of 2009 20 homes sold and last year there wasn't a looming deadline to close escrow for a tax credit.
(click on […]
We’ve been swamped with business this year and with rolling out our new web page to boot we are just now able to settle down and look at February’s homes sale price figures for Belmont. Believe me, we’re dutifully aware that March’s numbers are available soon and we promise to deliver them in a more […]
Before the Super Bowl XLIV gets started we thought we’d take a look at what happened in Belmont in January 2010.
We’re including two spreadsheets—one for this last January and to help put in perspective, the one from last January.
Most statistics across the country point to January of 2009 as the low point for the real […]
It’s official. Belmont’s median home price dropped 9.4% last year from $920,000 in 2009 to $833,827 in 2009.
(click on the graph to enlarge)
There’s not much good news in the way of these numbers which would hint that the market is improving anytime soon with the exception of the “months of inventory†(*see below).
There seems […]
Changes to the Belmont home market seemed to have slowed recently.
(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 […]
It’s easy to see the numbers for June are much better for sellers than they were in May. Almost all indicators are up signaling a stronger market for sellers in June as compared to last month (click on the chart to see a full size version).
Looking at the same period over last year a […]
Anyone trying to understand the wild fluctuations in Belmont’s median home price need look no further than this chart.
We’ve tracked the median home price in Belmont over the last year—ever since the mortgage crises. What we were looking for was the impact it would have on home values. We sure were stunned to see […]
Happy New Year from MorganHomes.com
By Drew Morgan|December 30th, 2009|
Happy New Year!
We’re closing in on the year end home sales statistics, and for that matter the decade end as well. We’ll take a look at the past ten years as compared to 2009 to see how it all stacks up. For now, we’ll leave you with wishes for a prosperous, healthy and happy New Year!