Tag Archive | "San Carlos buyers"

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How to do a “move-up” buy

Posted on 10 September 2012 by vvandervort

Bursting at the seams in your current San Carlos home? If so, you are likely considering whether you should expand your current digs or attempt the “move-up”.  Since we all tend to like the status quo and don’t like to tread into the unknown, I thought I’d take the opportunity to shed some light on how one goes about doing a move-up transition in San Carlos or frankly, whatever town you may be residing in along the peninsula.

One option is that you buy first.

There are two ways of doing this.  If you have the cash available for your down payment without selling first and if you can get pre-approved while carrying your first home, then you are free to go off and purchase the new home while still holding on to your current home.  The beauty of this is that you are not left homeless.  You can close on the new home, move into it, and then get your old home on the market.  The downside of this is that you could get stuck with two homes.  I actually had this almost happen to some clients of mine back in the Summer of 2008 when the market cooled very quickly during the “mortgage meltdown”.  They thankfully got the home sold before it really got bad, but they were lucky.

The other way of buying first is that you make it contingent upon you selling your home.  This is much less risky, but it is also very limiting.  You can only go after homes where the seller will consider this and that typically only happens when homes have sat on the market for a while.  So if you want the house that everybody else wants, then you’re not going to get it if you have to make your offer contingent upon selling your current home.  You are left with the over-priced and the unwanted – at least when our San Carlos market is hot.  If you go with the “contingent offer” maneuver, then you negotiate how long you have to get your home into contract – usually about 2-4 weeks.

Next option for you move-up San Carlos buyers, is to sell first.

This is wading into the big unknown because what you do know is that you are going to sell the roof over your head and head off to who-knows-where.  There are short term rentals in the vicinity (my clients have had the most success in Foster City for finding an apartment to rent for 3 months).  You can even choose to move there before you put your home on the market which will make it less stressful having your home on the market.  However, optimism abounds and lots of people put their house on the market, get it into contract, and then start seriously searching for their next home with the thought that you could get something and not have to move twice.  I always work to negotiate as long of a rent back as possible for my sellers so that they can increase their chance of finding another home before they have to move out and decrease their chance of having to move twice.  The downside of the “sell first” option is the distinct possibility of having to move twice.

If you are going to sell first, another way to do it is that you sell with it subject to you finding a replacement home – then you guarantee you don’t have to move twice.  This doesn’t go over too well with the prospective buyers because many of them have deadlines for having to get settled and they can’t be left hanging while you try and find a home.  It makes it much tougher to get multiple offers on a home when you can only work with buyers who can work with your requirement to find another home first.

Control & Negotiation

Everyone wants a deal – the best deal they can get.  What I can tell you for sure is that you will have the most control and give yourself the greatest chance at negotiating if you sell first and then buy after you’ve closed on your current home.  This also gives you the best chance of getting the home you want when you go to buy because you aren’t left with the “leftovers”.

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San Carlos Real Estate Activity for Week Ending May 14, 2011

Posted on 15 May 2011 by vvandervort

It was a typical week in the Springtime San Carlos real estate market with good activity in new homes coming on the market – 10 of them – and a good amount of sales – 8 of those.   There are currently 63 single family homes on the market in San Carlos.

The 10 homes that got listed in San Carlos this week were:
973 Cherry St – $539,900 – 2/1 – 980 sq ft
2647 San Carlos Ave – $793,000 – 4/4 – 2,500 sq ft
163 Ruby Ave – $799,000 – 3/1.5 – 1,250 sq ft
260 Beverly Dr – $799,950 – 2/2 – 1,416 sq ft
45 Shelford Av – $839,000 – 3/2.5 – 1,440 sq ft
132 Garnet Av – $1,110.000 – 4/3 – 2,268 sq ft
3211 Melendy Dr – $1,149,000 – 3/2.5 – 2,830 sq ft
19 Anchor Ln – $1,299,000 – 6!!!/4 – 3,650 sq ft – not often that you see a 6 bedroom house come up in San Carlos
204 Exeter Av – $1,349,000 – 4/3.5 – 3,450 sq ft
169 Glasgow Ln – $1,388,000 – 4/3 – 2,510 sq ft

There were 8 homes that sold (got into contract) this week in San Carlos.  They had an average days on market (DOM) of 53 days.  However, if you take 104 Winding Way, which had been on the market for 332 days out of the average, then the average DOM becomes 14!  That is a rocking and rolling real estate market!  The homes that sold were:
104 Winding Way – $749,000 – 3/2 – 1,320 sq ft – 332 DOM
731 Cordilleras Av – $849,000 – 3/2 – 1,540 sq ft – 13 DOM
1392 Oakhurst Av – $849,950 – 3/1.5 – 1,420 sq ft – 41 DOM
1617 Belmont Av – $869,000 – 3/2 – 1,350 sq ft – 8 DOM
15 Madera Av – $890,000 – 4/3.5 – 2,790 sq ft – 6 DOM
416 Pearl Av – $898,000 – 3/2 – 1,703 sq ft – 12 DOM
760 Knoll Dr – $1,050,000 – 3/1.5 – 1,820 sq ft – 12 DOM
1817 Greenwood Av – $1,160,000 – 4/3 – 2,400 sq ft – 8 DOM

There were 4 homes that closed escrow in the last week in San Carlos.  They are:
31 Molton Av – LP $765,000 – SP $770,000 – 3/2 – 1,290 sq ft
790 Buckland Av – LP $1,099,000 – SP $1,012,500 – 4/3 – 1,965 sq ft
202 Timothy Dr – LP $1,149,000 – SP $1,149,000 – 4/2.5 – 2,350 sq ft
2433 Melendy Dr – $1,288,000 – SP $1,270,000 – 4/3.5 – 2,520 sq ft

That’s it for now from Val Vandervort the San Carlos real estate data gal!

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And we’re back… San Carlos Real Estate Absorption Rate for the Start of 2011

Posted on 17 January 2011 by vvandervort

It is an interesting start to 2011 in San Carlos real estate.  Since the turn of the calendar, we’ve only had one single family home go pending – those folks at 1359 Geneva might not realize just how lucky they are.  There actually are a lot of buyers out there, but they are particular and so not just jumping at anything that has a for sale sign in front of it.  We’ve been hovering around 35 single family homes on the market in San Carlos since the beginning of the year.

In the first week of January, this is what happened in the San Carlos real estate market.
The new San Carlos sellers were:
517 Vista Av – $1,049,000 – 4/2 – 1,880sf
15 Whitman Ct – $1,069,000 – 3/2 – 2,010sf

The sales in San Carlos for the first week in January:
1359 Geneva – $859,000 – 3/2 – 1,330 sf – was on market for 40 days

The closed sales in San Carlos for the first week in January were:
1714 Elizabeth St – LP $1,050,000 – SP $1,050,000 – 3/2 – 1,950 sf
2911 Eaton Av – LP $1,275,000 – SP $1,098,000 – 4/2.5 – 2,520 sf

That’s it for now from Val, the San Carlos real estate data gal!  And Happy New Year!

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San Carlos Real Estate Absorption Rate for Week Ending November 27, 2010

Posted on 02 December 2010 by vvandervort

A fitting image for the first week in December and because there was just one house that got listed in San Carlos last week.  It is that time of year, when there is so very little that comes up on the San Carlos real estate market.  Thankfully, there is some accumulated inventory for our December buyers in San Carlos to choose from.  For those of you out buying, we currently have 55 single family homes on the market in San Carlos.  A year ago, we were at 66.  Quite a bit of a difference.

The one house that listed last week in San Carlos was:
21 Coleman Ct – $1,299,000 – 5/3 – 2,200 sq ft – This is a really great house: cul-de-sac, fairly open floor plan, views AND usable yard, and cool wine room.

There were 4 homes that sold last week in San Carlos.  They had an average of 36 days on the market (DOM).  The lucky San Carlos sellers were:
2232 Howard Av – $1,388,000 – 4/3 – 2,380 sq ft – 52 DOM
34 Hilltop Dr – $839,950 – 3/2 – 1,880 sq ft – 52 DOM (yep, same as the one above)
1621 Cordilleras Av – $825,000 – 3/2 – 1,580 sq ft – 13 DOM
770 Neal Av – $499,000 – 2/1 – 630 sq ft – 26 DOM

There were 3 homes that closed escrow last week in San Carlos:
576 Dartmouth Av – LP $749,950 – SP $710,000 – 3/2 – 1,330 sq ft
1190 Alameda de las Pulgas – LP $749,000 – SP $650,000 – 2/1 – 1,010 sq ft
1619 Gover Ln- LP $1,049,000 – SP $1,005,000 – 3/2 – 1,640 sq ft

Just a side note about the market:  multiple offers are still out there for homes that are priced well and are a good product.

That’s it for now from Val, the San Carlos Real Estate Data Gal!


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San Carlos Real Estate Absorption Rate for September 2010

Posted on 18 October 2010 by vvandervort

Although the market is feeling soft, the San Carlos real estate absorption rate for September 2010 was pretty good.  For single family homes in San Carlos, there were 39 that listed during the month of September 2010.  During that same period, there were 26 homes that went pending in San Carlos.  So that is an absorption rate of 66.7%.  For the month of August, the absorption rate for San Carlos was considerably higher at 88.9%. But still that 66.7% is not bad.

If you are thinking of buying, oh my, is it a good time.  There is a lot of competition in the market and buyers are not pulling the trigger.  It can’t be interest rates that are keeping them on the sidelines because they are killer.  And the stock market is cooking right now! All of the buyers I’m working with and talking to are not expressing concern about their jobs.  I’m thinking that the feeling is that the real estate market may worsen, so no need to do anything now because it might get even better for buyers.

This is an interesting tidbit that came in yesterday from Rick Turley, the president for Coldwell Banker for the San Francisco Bay Area…
“In Woodside, the local market is alive and has had a clear renaissance. Four homes have sold in Woodside in the last 10 days all over $6 million – and three of them had multiple offers.  This is a stunning development since we have had just four sales over $6 mil in the last 12 months. Big money is getting confident, our local manager says.”

So if big money is getting confident, what is happening to just normal money?  Will it become more confident too?  I remember saying in the Spring of 2009 that if I didn’t already own a house in San Carlos, I would buy one and that ended up being the time when our market bottomed out.  I again, have that feeling.  I keep hearing buy, buy, buy in the back of my mind.  This time period may also develop into being a bottom and those who ended up pulling the trigger will look back and smile with pride that they took the brave leap when no one else was doing it!

That’s it for now from Val, the San Carlos real estate data gal!

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San Carlos Real Estate Absorption Rate for Week Ending September 18, 2010

Posted on 22 September 2010 by vvandervort

<—- I love this photo.  It reminds me of my dad who always loves to tease me when I’ve got my phone to my ear.  In the background he just shouts out “Buy!  Sell!”  The photo is a pretty good image of our San Carlos real estate market right now.  We are definitely seeing more people wanting to sell than buy.  If you are a buyer for San Carlos or the surrounding communities, you should get out there and do it.  I am seeing a good deal of competition between the listings in the $850,000 to $950,000 range.  I believe it is a great opportunity to buy right now and I think people will be pleased with how they fare if they buy now.  Can you hear my dad yelling “BUY!”?

For the week ending September 18, 2010, here’s what things looked like in San Carlos real estate for single family homes:
11 homes were listed
5 went pending
2 closed

The 11 homes that listed in San Carlos last week were:
371 Fairfield Dr – $595,000 – 2/1 – 820 sf
1016 Cherry St – $679,000 – 3/1 – 1,350 sf
1318 Geneva Av – $725,000 – 2/1 – 1,1110 sf
1190 Alameda – $749,000 – 2/1 – 1,010 sf
320 Chestnut St – $779,000 – 3/2 – 1,560 sf
89 Ensenada Rd – $829,000 – 3/2 – 1,690 sf
2063 Alma St – $950,000 – 3/2 – 1,830 sf
3101 Melendy Dr – $1,198,000 – 3/2 – 2,080 sf
343 De Anza Av – $1,450,000 – 5/3.5 – 2,610 sf
54 Eaton Villa Pl – $1,925,000 – 5/4.5 – 5,190 sf – this is a short sale
228 Queens Ct – $3,200,000 – 5/4.5 – 5,530 sf

The pending sales in San Carlos last week had an average of 31 days on market (“DOM”).  The 5 homes that sold were:
2024 Birch Av – $722,000 – 2/1 – 1,030 sf – 9 DOM
2428 San Carlos Ave – $759,000 – 3/2 – 1,480 sf – 50 DOM
2063 Alma St – $950,000 – 3/2 – 1,830 sf – 1 DOM
23 Elston Ct – $1,150,000 – 3/2 – 2,230 sf – 91 DOM
3101 Melendy Dr – $1,198,000 – 3/2 – 2,080 sf – 1 DOM

There were 2 closed sales in San Carlos last week.  They were:
786 Cedar St – LP of $875,999 – SP of $848,000 – 3/2 – 1,380 sf
215 Exeter Av – LP of $1,148,900 – SP of $1,165,000 – 4/3 – 2,590 sf

That’s it for now from Val Vandervort, the San Carlos real estate data gal!  Want data that is not on here, give me a call at 650-740-6025.

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San Carlos Real Estate Absorption Rate for Week Ending September 11, 2010

Posted on 19 September 2010 by vvandervort

There’s been a little bit of rain as the kiddos head back to school and we’ve definitely had some rain in the San Carlos real estate world too.  The inventory is building in the San Carlos single family home market.  As of today, we have 67 single family homes on the market in San Carlos.  A year ago, it was at about 60.  It will be very interesting to see how active buyers are in the Fall market (our 2nd most active time of the year).  If they sit on the sidelines, we could see something similar to the Fall of 2008 when the inventory kept on building, the buyers weren’t buying, and the market decline was in the double digits before it was all done.

For the week ending on September 11, 2010, here is how things shook out for single family homes in San Carlos:
11 homes listed
6 sold
5 closed escrow

Here are the 11 homes that listed that week in San Carlos:
2024 Birch – $722,000 – 2/1 – 1,030sf
576 Dartmouth – $749,950 – 3/2 – 1,330sf
1710 Walnut St  - $789,000 – 2/1.5 – 1,470sf
8 Ensenada Rd – $795,000 – 3/2 – 1,440sf
124 Acacia Ct – $799,000 – 3/1.5 – 1,550sf
216 Garnet – $885,000 – 4/2 – 1,570sf
1087 Hewitt – $901,888 – 4/3 – 2,350sf
216 Frances – $989,000 – 4/2.5 – 1,910sf
1201 Cedar St – $1,188,000 – 4/3 – 2,060sf
135 Dolton Av – $1,190,000 – 4/4 – 2,100sf (this is a relist from this Summer)
2829 Tramanto Dr – $1,198,895 – 3/3.5 – 2,270sf

The 6 homes that sold in San Carlos for the week ending September 11, 2010 had an average days on market (DOM) of 18.  That’s actually quite low – signifying that things are moving quickly.   The lucky San Carlos sellers were:
2125 Brittan Av – $779,000 – 2/2.5 – 1,590sf – 28 DOM
43 Pine Av – $799,950 – 2/1.5 – 1,390sf – 14 DOM
131 Molton Av – $900,000 – 3/2 – 1,660sf – 43 DOM
916 Rosewood Av – $938,000 – 3/2 – 1,350sf – 6 DOM
128 Club – $999,888 – 4/3.5 – 2,890sf – 15 DOM
1201 Cedar St – $1,188,000 – 4/3 – 2,060sf – 1 DOM

There were 5 homes in San Carlos that closed escrow in the week ending September 11, 2010.  They were:
1455 Alameda – LP $650,000 – SP $540,000 – 3/1 – 1,310sf
249 Alberta Av – LP $895,890 – SP $852,000 – 2/1 – 1,130sf
870 Crestview Dr – LP $1,071,900 – SP $980,000 – 4/2 – 2,250sf
104 Windsor Dr – LP $1,099,000 – SP $1,077,000 – 3/2 – 1,850sf
208 Crestview Dr – LP $1,148,000 – SP, $1,110,888 – 4/3 – 2,500sf

That’s it for now from Val Vandervort, the San Carlos Real Estate Data Gal!  Want data you don’t see here?  Just call me at 650-740-6025!

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San Carlos Real Estate Absorption Rate for Week Ending May 22, 2010

Posted on 23 May 2010 by vvandervort

We are experiencing major absorption here in the San Carlos real estate world!  Great news for sellers, not such great news for buyers.  We are back to 48 active listings of San Carlos single family homes.  Just can’t seem to inch up in inventory.  We had 5 properties get listed last week and NINE went pending in San Carlos!

Here are the 5 that hit the market last week in San Carlos:
1322 Eaton Ave – $869,000 – 3/1.5 – 1,473 sf
11 Highland Ave – $829,000 – 3/2.5 – 1,720 sf
343 Manzanita Ave – $799,000 – 2/1 – 1,050 sf
794 Cedar St – $749,000 – 2/1 – 930 sf
770 Neal Ave – $549,000 – 2/1 – 630 sf – Dang, that is cheap, but it is also small and not in very good shape.

Below are the 9 single family homes that sold last week in San Carlos.  The average days on market (DOM) was 46.  The week before we had an average of 26 DOM for the homes that went pending that week.  Last week the average was skewed a bit by Bay View having been on the market for 172 days.
1985 Saint Francis Way – $1,250,000 – 4/3 – 2,140 sf – 42 DOM
530 Walnut St – $1,099,000 – 5/4 – 3,300 sf – 23 DOM
2016 Eaton Ave – $1,098,000 – 3/2.5 – 2,580 sf – 8 DOM
852 Cedar St – $1,029,000 – 3/2.5 – 1,890 sf – 8 DOM
233 Bay View Dr – $989,000 – 3/3 – 2,650 sf – 172 DOM
885 Sunset Dr – $849,000 – 4/3 – 1,610 sf – 85 DOM
898 Orange Ave – $799,000 – 3/2 – 1,240 sf – 14 DOM
950 Elm St – $799,000 – 2/1 – 1,500 sf – 11 DOM
188 Winding Way – $799,000 – 4/2.5 – 2,080 sf – 54 DOM

There were 8 homes that closed escrow in San Carlos last week.  They were:
1962 San Carlos Ave – listed at $639,900 – sold at $671,000 – 3/1 – 1,260 sf
1011 Alameda – listed at $749,000 – sold at $740,000 – 4/2 – 1,880 sf
728 Cedar St – listed at $779,000 – sold at $790,000 – 2/1 – 1,020 sf
5 Pepper Ln – listed at $849,000 – sold at $849,000 – 3/2 – 1,240 sf
2733 Clifford Ave – listed at $1,035,000 – sold at $1,035,000 – 3/1 – 1,150 sf
2803 Eaton Ave – listed at $1,049,000 – sold at $1,050,000 – 4/2 – 1,850 sf
3328 Melendy Dr – listed at $1,399,950 – sold at $1,399,950 – 4/3 – 3,460 sf
1340 Orange Ave – listed at $1,950,000 – sold at $2,050,000 – 6/4 – 3.400 sf

For all of you buyers out there, here’s hoping for a bunch of new listings in San Carlos.  However, with the Memorial Day weekend coming up, we may have sellers delaying putting on the market until we get through the holiday.

That’s it for now from Val, the San Carlos real estate data gal!

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San Carlos Real Estate Absorption Rate for Week Ending March 8, 2010

Posted on 08 March 2010 by vvandervort

San Carlos nets 2 new listings Gosh, do I even need to write anything after posting such a beautiful picture?  If I didn’t like selling real estate so much, I think I’d just write blog posts all day long and find pretty photos to go with them.  As pretty as the picture is, I’m guessing that is not why you’re here.   So let’s get to the data that makes up my weekly look at the Absorption Rate for San Carlos real estate.

We had 9 homes get listed in San Carlos this last week.  I was pretty excited on Thursday and Friday when several hit the market, but for my buyers, this is still not enough inventory.  We currently have 31 houses on the market.  We had 69 a year ago and 2 years ago we had 49 homes on the market in San Carlos.  If you are contemplating selling, please do.  There are many buyers for your home.

Here are the 9 homes that got listed in San Carlos:
1951 Eucalyptus Av – $1,795,000 – 4/3.5 – 2825 sq ft  - MLS#81009423
(This was my favorite of last week.  It is the best new construction I’ve seen in a LONG time.)
112 Wildwood Av – $1,685,000 – 4/3.5 – 2900 sq ft – MLS#81010779
500 Prospect St – $925,000 – 3/2 – 1480 sq ft – MLS#81010398
1136 Rosewood Av- $829,000 – 3/1 – 1370 sq ft – MLS#81009390
153 Park Av – $799,900 – 3/1.5 – 1330 sq ft – MLS#81010470
1239 Elm St – $795,000 – 2/1 – 1039 sq ft – MLS#81010749
715 Tamarack – $779,000 – 2/1 – 1080 sq ft – MLS#81010366
124 Plymouth Av – $739,000 – 3/2 – 1300 sq ft – MLS#81010510
(Don’t get too excited about this one because it is really underpriced and will sell higher even though it has a few issues.)
1028 McCue Av – $689,000 – 3/2 – 1340 sq ft – MLS#81010589

We had 7 homes get sold in San Carlos last week.  They are:
256 Devonshire Bl – $2,495,000 – 4/4 – 4287 sq ft – MLS#80935510
324 Oakview Dr – $1,295,000 – 4/3.5 – 3490 sq ft – MLS#81008746 – this is a short sale
335 Pearl Av – $997,000 – 3/2 – 1690 sq ft – MLS#81007768
2130 Eaton Av – $849,000 – 2/1 – 1640 sq ft – MLS#81006488
124 Northam Av – $799,000 – 3/2 – 1580 sq ft – MLS#81007352
184 Sycamore St – $649,000 – 2/1 – 1,220 sq ft – MLS#80952834 – this is a short sale

The average days on market for these homes that went pending was 71 days.  256 Devonshire Bl was on the longest at 222 days, but how great that a home for that price got into contract!  324 Oakview was on the market for the shortest amount of time and that was 4 days.

The homes that closed escrow in San Carlos in the last week were…
1345 Woodland Av – listed at $839,000 – sold for $810,000 – 3/2 – 1630 sq ft
2904 Eaton Av – listed at $1,125,000 – sold for $1,110,000 – 4/2.5 – 2100 sq ft
2230 Carmelita Av – listed at $1,399,950 – sold for $1,362,000 – 4/3 – 2340 sq ft

That’s it from Val, the San Carlos Data Gal, for this week.  Need more data??? Call me at 650-740-6025
Val, the data gal

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San Carlos Real Estate Absorption Rate for Week Ending February 28, 2010

Posted on 01 March 2010 by vvandervort

desert - crackly ground
This dry, crackly desert scene does a good job of describing our San Carlos Real Estate market for this last week.  We had 4 homes come on the market and 8 (EIGHT!) went pending.  Can’t you just feel things drying up? My buyers certainly can.  I have several who are anxious to buy in San Carlos and they can’t find a home that works for them.  The San Carlos inventory is currently at 30 and has been stable right around that number for many weeks now.  My San Carlos buyers would like to rewind to the fall when we had 50-60 houses on the market in San Carlos.

So here’s what listed this last week:
130 Acacia – $895,000 – 4/2.5 – 1710sf – MLS#81008188
11 Willow Glen Wy – $899,000 – 3/2 – 1280sf – MLS#81009007
885 Sunset Dr – $999,000 – 4/3 – 2600sf – MLS#81008742
324 Oakview Dr – $1,295,000 – 4/3.5 – 3490sf – MLS#81008746 (this home has gone pending already)

Here are the 8 homes that got into contract this last week in San Carlos:
309 Old County Rd – $499,000 – 2/1 – 820sf – MLS#81003402
120 Palm Av – $750,000 – 3/2 – 1560sf – MLS#81006601
117 Beverly Dr – $848,000 – 4/3 – 2180sf – MLS#81006378
350 Oakview Dr – $859,000 – 3/2 – 1120sf – MLS#81007795
724 Tamarack Av – $868,000 – 3/2.5 – 2070sf – MLS#81002018
60 Hartford Av – $1,150,000 – 3/2 – 1570sf – MLS#80954516
700 Best Ct – $1,795,000 – 4/3.5 – 4040sf – MLS#81002037
1357 Rosewood Av – $738,000 – 2/1 – 1160sf – MLS#80957846

The average days on market for these San Carlos homes was 41.  350 Oakview was on for the shortest time at 5 days and 60 Hartford Av was on for the longest at 94 days.

The homes that closed escrow in San Carlos in the last week were:
1357 Rosewood Av – listed $738,000 – sold $738,000 – 2/1 – 1160sf
1101 Orange Av – listed $779,000 – sold $790,000 – 2/1 – 1220sf
1944 Eaton Av – listed $959,000 – sold $985,000 – 3/2.5 – 1700sf
15 Buckland Ct – listed $978,000 – sold $905,000 – 3/2.5 – 1940sf

Need more data?  Call Val at 650-740-6025.

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