Archive for the ‘San Mateo County’ Category
July 2, 2008
I had the opportunity to swing by this neighborhood earlier this week, and take a gander at the Morgan Lane development (model home at right). I wrote about the grand opening last Fall, and now most of the construction is complete or close to it on the 56 homes scheduled to be built. These are 3 and 4 bedroom homes, two or three stories, ranging from 1,470 square feet to 1,951 square feet, with a base price of $1,249,000 to $1,409,000. I thought that they looked mighty close to one another, but I like the old town charm that they project. Reminded me of being on the Warner Brothers lot down in Burbank, walking through the Stars Hollow set (Gilmore Girls). Quaint is the word I would use.
Our friends over at Playborhood reviewed these homes and their kid-friendly attributes, coming up with a mixed verdict. But I would add to their list of Pros the nearby Burgess Park. Burgess is over 9 acres with majestic oaks, lots of lawn and open space to play, plus baseball field, soccer field, tennis courts, basketball courts, playground and picnic areas. Next door is Burgess Pool, where I swam as a child, as well as a Rec Center, Skate Park and Sports Center.
There is also a great walkability factor about this neighborhood. Close to CalTrain and downtown Menlo Park, it would make a nice stroll to go have a coffee at Cafe Borrone or to browse the books at Kepler’s. But as you see by the price of the Morgan Lane homes, this is not an area for the poor or working class. While there are pockets of apartments in this neighborhood, they tend to be better kept and probably don’t come cheap. Right now there are only two homes for sale, and they are running a whopping $849 and $1009 per square foot.
510 Barron, just off Burgess Road near the Menlo Park City Maintenance Center, is an 8-year-old traditional two-story home with 3 bedrooms, 2.5 baths. It sits on a 3,851 sf corner lot in a small development, with HOA fees at $30/month. Originally listed 75 days ago at $1,399,000, it has been reduced 5.3% to $1,325,000 ($849/sf). When it was new in 1999, it sold for $645,000.
250 E. Creek Drive is a remodeled 3/2 of 1,680 square feet on an oversized 7,597 sf lot. It’s located on a quiet street between Willow Road and Burgess Avenue. On the market 16 days, it is priced at $1,695,000 ($1,009/sf) and last sold (prior to remodel) in 2007 for $1,085,000. Open House July 5 and 6, 1:30-4:30 pm.
July 1, 2008
Sign of the times #1 : The Internet has changed how real estate is bought and sold.
Sign of the times #2: Slumping sales mean sellers sometimes have to sweeten the pot. Not wanting to reduce prices, said sellers might throw in a mo-ped, no interest for the first five years, or free parking. Such incentives are pretty common now in SF, particularly with condos, since we’ve a glut of pricey pads without the reciprocal glut of buyers. For instance, The Heritage bulding on Fillmore is offering free tickets to Yoshi’s, among other incentives. The Cove at Candlestick Point is offering cash payback which you can use to pay down your HOA or closing costs.
But now the Internet, with its complete array users (spanning the full, rich, and frankly comical spectrum of humanity) has brought seller incentives to a new level. Whether this level represents a high or a low, I leave it to you to decide.
My first sad example comes from Australia, where MSNBC reports “Guy auctions off life, selling price disappoints.” Indeed, not satisfied with just selling his home after his divorce, Ian Usher added several unlikely incentives to the deal, basically auctioning his life off an Ebay. On the block were his ”house and all its contents, car and a motorcycle, a jet ski, skydiving gear, an introduction to friends and a trial period in his sales job.” Sadly, he netted just $382,712 (he claims the house alone is worth more), which seems to lend creedance to one pundant’s insightful question: Dude doesn’t want his life, so why would you?
Back in the US, things are even stranger. A Florida single mother, weary of the dating scene and the sluggish market, is offering herself in marriage to the buyer of her home. Kelli Kennedy of the Associated Press writes:
After a year of trying to sell her four-bedroom home and eight years of singledom, Deven Trabosh is offering her South Florida home and a shot at marrying her on the Internet.
“I figured let’s combine the ad because I’m looking for love and I’m looking to sell the house,” said Trabosh, who teeters around the nearly 2,000 square-foot house in patent leather heels.
Will desperate sellers in the Bay Area follow suit, offering up first born children, virginity, award winning pie recipes? Is nothing sacred?
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Photo credit: DandTBargains.com
June 30, 2008
An interesting blog and subsequent debate over at The Front Steps caught my eye today, not in small part due to the title: “That Dog Should be Taco.” But this is not, in fact, a treatise on dog names nor a macabre recipe. In fact, it is a blog posing a rather existential real estate sales question: to disclose or not to disclose; or: I disclose, therefore I am …. but am what? Stupid? Shooting myself, or my neighbor, in the foot?
Because the blog warns as follows:
If you own a unit in a condominium and happen to pass by when potential buyers are milling around enjoying the garden setting in the common area, and marveling at how quiet it is, do not come by and say, “Just wait for the parties from that blond girl (nodding head toward unit directly next door). And that dog (blond girl’s pet), oh!………..that dog should be taco.” …..If anything, it is the worst thing you could do, because if the sale doesn’t go through based on what you just said, …..you just might have caused a longer listing period and subsequent price reductions, which could, in theory, lower the price of your own personal unit when it comes time for you to sell…[insert choice explicative here]!
But really? How many people would turn from a sale based on finding out a neighbor is noisy or has a dog better fit for eating than patting on the head? I live in a nice enough neighborhood on 9th, but if my landlord had told me that one of the couples living next door have horrible, thrown down yer beer can, Jerry Springer brawls (they do!), would I have reconsidered living here? Not a chance: Would I do any better anywhere else? Have you seen the rental market in SF? I was lucky to get this place. Noisy neighbors become free entertainment after a while. We have parties and place bets on who will be the first to slur his/her sentence beyond recognition, or who will be first to drop an f* bomb that can be heard for 6 city blocks.
Okay, but the Front Steps addresses an own situation, not a rent one. Big diff. If anything, it’s harder still to own than to rent, so if someone plods up to me, uninvited, and announces that the condo I’m now in love with is a) haunted; b) adjacent to the practice space for a group of tone deaf musicians, or c) too close to a party girl and her brat dog…well, I’m not likely to change my mind. I can always call the cops to come shut those people (and their pets) up, right, because the cops in SF don’t have anything else to do.
Hmm. Maybe it would make a person think twice.
So is disclosing tidbits of information that aren’t legally required to be disclosed a bad idea then? If those tidbits are unflattering? Or, if this information actually truly affects the quality of life in the new home, are we sort of ethically obligated to spill our guts? It’s a question to ponder, certainly.
In the meantime, here are a few interesting condos on the market now, both in SF and Daly City. I can’t vouch for the quality of the neighbors…if you really want to know, try a door-to-door survey. Someone is bound to tell you the truth.
SF
Mission Bay 1/1 at 300Berry St., #520: $535K with fitness center and parking.
Eureka Valley/Dolores 1/1 at 237 Collingwood St.: $575K= parking, Twin Peaks views and low HOA.
Russian Hill 2/2 at 2121 Taylor St., #1: For $699K, you get a very highly sought location, parking, and low HOA.
Daly City
Southern Hills 2/2 townhome at 495 Mountain Vw. #04: spacious, parking for $565K. Pretty sure after over a year on the market, the place would sell for less.
Crown Colony 2/1 at Philip Dr., #4. Pool, tennis, rec room, parking for $409,950.
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Yech dog photo credit: Tailored.com
June 27, 2008
Forget your psychic friend and magic 8 ball. CurbedSF has it that today’s savvy home hunters leave it to programmers to come up with a way to tell them, via scientific survey, whether a neighborhood is a good fit or not. Indeed, Hoodeo is the “neighborhood match maker,” your online connector of human to ‘hood.
So I gave it a spin- God knows I am having a hard time finding a place I can afford in SF; maybe Hoodeo knows something I don’t. Among its questions, the survey asks me if I wanted to stay in this city or if I would go anywhere. Since my job and friends and life are here, I actually do want to stay here, but just for fun, I chose “will go anywhere.” Hoodeo also smartly inquires how much I make and how much I “want to spend” on my next home, as well as how big I want it, cleverly reminding me that those square feet I desire will also have to be cleaned (I picked 1000 square feet, and since I had the option, 2 beds and at least 1.5 baths since I share with a man whom occasionally disgusts me). I decided the fair amount to pay, based on what we make, and that we would like to have money left over to travel and buy beer and such, would be 400 to 450K.
I should be, according to Hoodeo, living in Philidelphia. Wait, but you didn’t ask if I like sub-zero winters! I don’t!
Back to Hoodeo then, this time insisting on staying in the Bay Area. If I am to spend what I want to spend, I will need to think about Pacifica, San Bruno, South San Francisco, or– if I want the city proper– Bayview. Wait, you didn’t ask if I like gunfire in my front yard. I don’t!
Needless to say, Hoodeo has left some poignant questions off the list in determining if a ‘hood will fit you. For instance, nowhere am I asked what I think of On Deadline’s report that
Members of the Presidential Memorial Commission tell the San Francisco Chronicle that they’ve already collected 8,500 signatures on a petition to put the proposal before voters this November. If it passes, the Oceanside Water Pollution Control Plant would be renamed [the “George W. Bush Sewage Plant.]
To which I say: I am home.
June 27, 2008
Portola Valley and La Honda residents welcomed the new Robert’s Market to the
neighborhood this week, as it took over and remodeled an old storefront at Alpine and Portola roads. Robert’s, the wonderful family owned market in Woodside, has expanded their empire to serve its southern constituents. The Grand Opening of the full-service grocery was on Wednesday, and when I visited on Thursday afternoon, the place was buzzing with activity. Customers, friendly staff, and a great looking store were my first impressions.
The Robert’s family worked long and hard to get this rolling and they have done an impressive job. Beautiful wood floors, a large deli counter with prepared foods, gourmet specialties, and freshly made sandwiches, a larger produce section than the Woodside store and, as always, a really great selection of wines (if you don’t see what you want, just ask). Their butcher shop is completely new, with a beautiful green-tiled back wall, new butcher blocks, and gleaming cases. You might want to check out their special Blackjack Tri-tip. Black in color and full of flavor, it is priced at $11.11 and if you pick the right cut of meat (namely 1.98 pounds) and it prices out at $21 (blackjack, get it?), you get the meat for free. It’s one of my family’s favorites.
The store will serve Portola Valley and La Honda residents, as well as the hundreds of bikers that ride the hills in the area (and are also a constant presence at their Woodside store).
The store can be a bit difficult to recognize from the road, as the town apparently forbids storefronts from having signage on them. There are banners at each corner of the parking lot, facing Alpine Road. So if you are in the area, stop on by and check it out.
If you go this weekend, you can also check out these open houses:
76 Old Spanish Trail, 2/2, 1205 sf, .46 acres, $1,098,000 ($911/sf)
Open Sunday 1:30-4:30
346 Wayside Road, 2/2, 1510 sf, 1.01 acre, $1,249,500 ($827/sf)
Open Sunday 1:30-4:30
185 Shawnee Pass, 4/3.5, 2620 sf, 1 acre, $2,879,000 ($1,099/sf)
Open Sunday 1:30-4:30
30 Bear Gulch Drive, 5/4, 3981 sf, 1,2 acres, $4,250,000 ($1,068/sf)
Open Sunday 1:30-4:30
June 25, 2008
It’s not often that you see new housing developments on the Peninsula; there’s just so little land available for such a use. But periodically they do pop up, like the new 
in San Mateo. Located on the east side of Highway 101, off E. 3rd Avenue in the South Shoreview neighborhood, this 4-building development is throwing open its doors for all to see (and hopefully buy). The development was conceived and built by Barry Swenson, the force behind Vendome Place in San Jose, Creekside Village in Los Gatos, and Carneros Village in Sonoma.
The complex has 21 multi-story units and two basic floor plans, each with 3 variations. Plan A units are all two-bedrooms of 1,230 square feet, while Plan B are three-bedrooms of 1,775 square feet. The first floor is garage and storage, main floor is communal space (kitchen and living room), and top floor is bedrooms. All units have decks or patios, and some have back yards.
Prices start at $575,000 and you can tour the property and preview units on Fridays from 11am-6pm.
So how does this development compare to other homes in the area? Assuming that a 2 bedroom, 1230 sf unit goes for $575,000 that means the lowest-end unit is $467/sf. Most of what is for sale in the South Shoreview neighborhood are single-family homes, most of the 1950s vintage. The sf price on homes currently for sale in the area range from $336/sf to $630/sf.
Comparing the 2/2.5 units at Park Bayshore, I found one 2/2, of 1076 square feet, built in 1983 that is on a 3120 sf lot. Asking price is $599,500 ($557/sf), DOM: 147. That’s $90 more per square foot. I also see that there is a 2/2.5 townhome built in 1999, slightly larger at 1530 sf, on the market 12 days for the price of $699,950 or $443/sf. So the new Park Bayshore units are definitely priced competitively to its two-bedroom neighbors.
There are no 3/2.5 comps, but the two offerings that have 3/2 are small at 1080 and 1010 sf each, and show square foot prices of $514-550/sf. There is one 4/2 of similar size (1690 sf), but it is a 54-year-old bright blue home offered pre-foreclosure for $599,000 ($354/sf). It was last sold in 2006 for $750,000.
So if you are heading out to cool off near the bay or hit some golf balls at nearby Mariners Point, think about swinging by Park Bayshore and checking it out. Don’t forget to let us know what you think.
June 22, 2008
It appears that sellers are taking a much more pragmatic approach to selling their home by either pricing it right, reducing it quickly if it doesn’t sell, or negotiating offers quickly. The first two weeks of June brought 38 home sales in Redwood City, San Carlos and Belmont. The majority (32) sold within 60 days, but more impressive is that 14 homes sold within 14 days and another 8 sold within 30. While Belmont only had 11 homes sold, almost 50% sold over list; in San Carlos, one sold at list and 7 under list; Redwood City, with 19 sales, had 2 at list, 4 above, and 13 below. That means only 12 homes or 31.5% sold at or above list, while last month’s sampling showed 50% selling at or above. So homes are moving in a timely manner, but for a bit less than anticipated.
Prices were split pretty evenly between mid- and high-range homes. Only 2 sold for under $500k, both in Redwood City, but 18 sold in the $500-999,000 range and there were 18 properties with a purchase price of over $1,000,000. The lucky over-list-price homes:
1616 NOTRE DAME AVENUE, Belmont List $889,500 Sold for $933,000 DOM: 9
2800 SAN JUAN BOULEVARD, Belmont List $949,000 Sold for $975,000 DOM: 22
1938 BAYVIEW AVENUE, Belmont List $1,088,000 Sold for $1,150,000 DOM: 7
3606 REPOSO WAY, Belmont List $1,098,000 Sold for $1,120,000 DOM: 12
1802 OAK KNOLL DRIVE, Belmont List $1,150,000 Sold for $1,185,000 DOM: 5
1028 15TH AVENUE, Redwood City List $598,000 Sold for $611,000 DOM: 12
3753 FARM HILL BOULEVARD, Redwood City List $675,000 Sold for $830,000 DOM: 7
1959 FERNSIDE STREET, Redwood City List $1,450,000 Sold for $1,560,000 DOM: 13
3527 OAK KNOLL DRIVE, Redwood City List $1,550,000 Sold for $1,587,000 DOM: 12
The rest of the home sales can be seen after the jump.
Read the rest of this entry »
June 21, 2008
Mark Twain would be really confused if he woke up today, to yet another morning of 80+ degree temps and nary a wisp of fog in sight. Never thought I’d say this, but I’d welcome a wisp of fog right now. A shroud, even. Best would be a nice rain storm!
But on the other hand, days like these are the ones when the people out in the Avenues start looking pretty smug. Not for them the sitting in traffic, fighting for a spot in the Ocean Beach lot; they just put on flip flops and walk down to the ocean, sip margaritas on their decks, and preen.
It’s true that SF and Daly City largely enjoy borders of water, and sometimes that the properties most “water’s edge” are not the most sought after– except on days like this. Still, even a foggy day at the beach has its charms. If you agree, these listings are for you.
San Francisco
1638 Great Hwy: 3/1.75 Outer-Sunset TIC for $749K or #1636, also 3/1.75 at $699K (or buy the 2-unit building: MLS#342165). One street off Ocean Beach.
1714 48th Ave: Also an Outer-Sunset TIC, this very attractive 3/1.5 has been having some trouble getting sold, so after 90 days on the market, and just a few blocks from the sea, it could be yours for less than current asking of $604K.
762 Great Hwy: Richmond side of the Golden Gate Park, this 3/2 condo is close to Sutro Baths and the Cliff House. $769K.
298 32nd Ave.: SF’s Seacliff is not what one would call an undesirable neighborhood. Here’s why: lovely 3/1.25 SFH for $1,799,000. Stellar views all around.
3725 Webster: As long as we are going high rent, here’s a Marina area 3/2 condo, deliciously close to Crissy Field. $1,695,000.
75 Folsom St., #1401: Head to South Beach for this newly listed lux 1/1 condo with an end of the world type setting-
Nothing between you and the Bay. Well, except $750K….
Daly City
383 Glenwood Ave: classic Daly City 3/2 SFH for $629K. On market a long time, very close to Fort Funston.
333 Glenwood Ave.: Same street as above makes for easy open house visits! This cute 3/2 SFH in Daly City also offers proximity to the ocean, for $739K.
June 20, 2008
The first two weeks of June brought only 10 new listings to the town of Belmont, but it is a diverse group and there should be something available for everyone, given your preferences on size, price, and location. Homes range in size from 720 to 2,980 square feet, and come in a farily even mix of 2 bedroom (2), 3 bedroom (4), 4 bedroom (2) and 5 bedroom (2) models. Pricewise, you have a range of $619,000 to $1,638,000, with 40% being under the $1mil mark. And amazingly, all are located on the west side, many up in the hills above Alameda.
According to recent MLS data from April and May that I reported on Thursday, Belmont sold an average of 12 homes per month, for an average of 98.77% of the asking price, with the average sales price being $885,437. Given that the schools in this town are good, all ranking 9s and 10s by the state (see the Mid-Pen Scholastic Report), most homes have easy access to 101 and/or 92/280, a very nice CalTrain station, and SamTrans that runs along major arteries, this is a desirable place to live. If you are interested, here are the newbies to check out:
2852 SAN JUAN BOULEVARD, 2/1, 720sf Listed for $619,900 (image right)
Small home on large 8000 sf lot. Bank owned REO, last sold in 2005 for $650,000.
1850 ALDEN STREET, 2/1, 1010 sf Listed for $798,800
Standard rancher on a standard lot. Already has a pending offer.
1836 EL VERANO WAY, 3/2, 1290 sf Listed for $799,999
Appears to have been taken off the market.
2761 YOSEMITE DRIVE, 3/2, 1410 sf Listed for $974,500
Nicely landscaped rancher off Ralston Avenue. Easy access to freeways, shopping, and transportation. Last sold 2004 for $811,000
2917 SAN JUAN BOULEVARD, 4/3, 2000 sf Listed for $1,148,000
Contemporary home in the canyon. Open Sunday 2-4. Last sold in 2000 for $675,000.
1 SPRING LANE, 3/2, 1630 sf Listed for $1,148,000
Rancher on 1/3 acre, has great deck with views of the Peninsula and Bay. Last Sold 2000 for $720,000.
1826 OAK KNOLL DRIVE, 4/2.5, 2460 sf Listed for $1,159,000
Another large home, but on a substandard 4400 sf lot.
2935 SAN JUAN BOULEVARD, 3/2.5, 2400 sf Listed for $1,299,000 (image right)
Contemporary 3 story home, open this Sunday from 2-4.
3309 HASKINS DRIVE, 5/ 2.5, 2980 sf Listed for $1,589,000
Sitting on a half acre, this contemporary tri-level home is primarily below grade, located up in the canyon.
2776 BELMONT CANYON ROAD, 5/4+, 2340 sf Listed for $1,638,000
Mediterranean style influences in this canyon contemporary home. 800 square feet of deck with views. Possibly original owner.
June 19, 2008
While Redwood City certainly has its fair share of large homes and McMansions, it appears that the new listings are of the more modest version. Of the 58 newbies that came on the market between June 1st and 14th, 86% are under that magic 2,500 square foot number. (Remember my Rant of the Week, and the Dwell reader who insinuated that anything under 2500 sf is considered “modest” and anything less is impractical?) In fact 20% of these new listings are under 1000 square feet, which would be positively miniscule to above-mentioned house hog.
Pricewise, 28 or 48% of these new listings are in the $500-999,000 range, with 8 under $500,000 and 22 over the $1,000,000 mark. Three bedroom homes still dominate with 26 listings, while 12 have 2 bedrooms, and 20 have 4 or 5 bedrooms. The most popular homes these days are on the west side, under $1mil, having 3 bedrooms, so today I will concentrate on those new listings that are under 2500 sf.
214 CERRITO AVENUE, 3/1.5, 1070 sf $635,000
Ranch-style home close to Woodside Road, access to 101 and 280.
155 FULTON STREET, 3/1, 1170 sf $799,000 (photo below)
Craftsman on oversized lot in Mt. Carmel neighborhood, near Sequoia High School and downtown. Open Sunday 1:30-4:30.
722 CLINTON STREET, 3/2, 1250 sf $828,000
Two-story, turn-of-the-century home with easy access to Jefferson and El Camino. Light and bright and remodeled throughout. Last sold in 2006 for $660,000.
553 TOPAZ STREET, 3/2, 1300 sf $829,000
Ranch-style home located off Jefferson Avenue near the Alameda. Open Sunday 1:30-4:30.
244 FULTON STREET, 3/1, 1440 sf $895,000 (photo above)
Also in Mt. Carmel, near Sequoia High School and downtown. Open Sunday 1:30-4:30.
2674 BRIARFIELD AVENUE, 3/2, 1090 sf $899,000
Updated rancher with pool right off the Alameda, near Roosevelt Avenue. Last sale 2003 for $659,000.
2031 HULL AVENUE, 3/2.5, 1450 sf $925,000
In close proximity to Woodside Road, access to 101 and 280. Last sold 2002 for $629,000.
1811 WOODSIDE ROAD, 3/2, 1710 sf $949,000
There are actually 2 homes on this 1/3 acre lot: the main house is a 3/2 with detached garage and workshop, plus a 2 BR cottage with separate garage .Located on busy Woodside Road, between Alameda and Woodside Plaza. Mixed-use area, with apartments, commercial, and single family homes. Last sold in 2004 for $150,000.
860 CHATSWORTH LANE, 3/2.5, 1570 sf $965,000
Two-story contemporary in 20-year-old development, off Woodside Road. Open Sunday 1-4.
