Tag Archive | "San Carlos Real Estate"

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Coming Soon in San Carlos – 2416 Melendy Drive

Posted on 28 July 2013 by vvandervort

Listed at $1,188,000

3 bedrooms, 2 bathrooms, ~2170sf on a lot of ~8,520sf

–2-story / 2-car garage home with great flow
–updated kitchen with stainless steel appliances; recessed lighting and other stylish lighting fixtures
–spacious backyard with decking that takes advantage of natural landscape — delightful upper deck with great views
–downstairs family room
–4 different access points to the back yard space via sliding doors
–loads of storage, including 3 closets in the master suite

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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 August 2010

Posted on 08 September 2010 by vvandervort

I usually look at the absorption rate on a weekly basis, which is an interesting way to keep up with the inventory in San Carlos and the changes in the San Carlos real estate market. However, I was on vacation for part of August and rather than write the whole month off, I thought the best way to “catch up” on my blog would be to look at the San Carlos real estate absorption rate for an entire month. Relying on the data for determining trends is actually probably more reliable when looking at the absorption rate on a monthly basis rather than a weekly basis. And it has always been my intention to look at the month’s absorption rate too, but of course I never find the time to do that post.

So here’s what happened in August in the San Carlos real estate market…
27 homes listed in San Carlos
24 homes went into contract in San Carlos

Pretty darn balanced!

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

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Absorption Rate of San Carlos Real Estate for Week Ending 2-14-10

Posted on 18 February 2010 by vvandervort

blue sponge fills frameBetween Valentine’s Day, President’s Day Weekend, the Winter Olympics, and potty training a 2 year old, I’m a little delayed on getting this up.  I thought maybe I should skip it, but it is also one of my methods for staying on top of the San Carlos real estate market.

We currently have 30 single family homes on the market in San Carlos.  That is up one from last week.

We had 10 properties get listed in San Carlos for the week ending February 14, 2010.  I have included the status on them because several of them got into contract over the past few days.

Status Street Address List Price Beds Baths (F|P) Bldg SqFt Age MLS Number 1-Active 120 PALM AV $750,000 3 2|0 1560 63 81006601 1-Active 117 BEVERLY DR $848,000 4 3|0 2180 85 81006378 1-Active 2130 EATON AV $849,900 2 1|0 1640 69 81006488 1-Active 203 EXETER AV $1,025,000 3 2|1 2007 29 81005675 1-Active 8 DOVER CT $1,098,000 3 2|0 2318 71 81006637 1-Active 1392 CEDAR ST $1,279,950 3 3|0 2030 62 81006552 3-PendingWithoutRelease 159 RUBY AV $799,000 3 1|0 1250 63 81006548 3-PendingWithoutRelease 26 BEVERLY DR $1,249,000 3 2|1 1828 68 81006807 4-PendingDoNotShow 364 DE ANZA AV $825,000 3 1|1 1170 57 81005656 4-PendingDoNotShow 142 WILDWOOD AV $868,000 3 2|0 1720 63 81005651

Only half as many sold during that week:

Street Address List Price Beds Baths (F|P) Bldg SqFt Age MLS Number 105 WILSHIRE CT $650,000 3 2|0 1390 54 80953394 1636 GREENWOOD AV $819,000 3 1|0 1300 62 81004510 2417 MELENDY DR $900,000 3 2|0 1850 51 81004196 2230 CARMELITA DR $1,399,950 4 3|0 2340 61 81004048

Those that closed during the week of February 8th to the 14th were:

Street Address Orig List Price Sale Price Beds Baths (F|P) Bldg SqFt Age MLS Number 1651 ALAMEDA $519,900 $470,000 2 1|0 920 63 80955030 1805 WHITE OAK WY $969,000 $900,000 3 2|0 1530 70 81000950 417 HILLCREST RD $1,249,900 $1,230,000 3 2|0 2140 74 81000019

Notice my annual reports that are available for download over there in the column on the right —>

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Absorption Rate for San Carlos Real Estate for Week Ending January 31, 2010

Posted on 01 February 2010 by vvandervort

Rain drops splashing into pondIt’s already time to talk about the absorption rate of real estate in San Carlos for this last week.  I feel like the week flies by and I have great intentions of doing several posts, but time slips away.  One thing I really hope to find time to blog on this week is all of the things that are happening out there right now in the lending world that are going to affect our San Carlos real estate market and San Carlos property values. 

We currently have 29 single family homes on the market in San Carlos.  Up just one from last week.   We are down quite a bit from last year at this time when we had 56 single family homes on the market in San Carlos.

We had 5 homes get listed in San Carlos in the last week (that was the same amount that was listed the previous week).  They are:

Street Address List Price Beds Baths (F|P) Bldg SqFt MLS Number Age
309 OLD COUNTY RD $549,000.00 2 1|0 820 81003402 62
982 HOLLY ST $599,000.00 2 2|0 1180 81003344 71
331 FAIRFIELD DR $649,900.00 3 1|0 1740 81004274 62
2417 MELENDY DR $900,000.00 3 2|0 1850 81004196 51
2230 CARMELITA DR $1,399,950.00 4 3|0 2340 81004048 61

Don’t get 2417 Melendy confused with 2457 Melendy that got listed 2 weeks ago. 

This last week we had 3 properties go pending (the previous week it was 5).  Hmmm… maybe the buyers were vacationing last week.  I seemed to hear of lots of people taking off on trips.  Here are the happy sellers in San Carlos that had their homes go pending last week:

Street Address List Price Beds Baths (F|P) Bldg SqFt MLS Number Age
1651 ALAMEDA $501,500 2 1|0 920 80955030 63
49 FAY AV $832,000 3 2|0 1480 80946990 39
2457 MELENDY DR $959,000 4 2|1 2050 81002163 51

It truly is a crazy time out there for mortgage rate changes, so buyers, you might want to get out there shopping and get into something sooner rather than later.   My team and I just did a web seminar on this topic and it will be posted to SanCarlosRealEstateBlog in the upcoming week.

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Median Sales Price in San Carlos

Posted on 23 January 2010 by vvandervort

I’m working on my annual San Carlos real estate in review articles, and thought I’d post this graph which shows median sales price in San Carlos over the last year. 

2009 Median Sales Price for San Carlos - Graph2009 felt like a roller coaster and the line on this graph of median sales price in San Carlos shows that.  It was a depressing start to 2009.  No one was buying and our inventory in San Carlos was high (it averaged 52 in January of 2009).  We had the highest median sales price of the year in January ($1,150,000 – but there were only 5 transactions), but you could really feel the downward pressure on prices at that time. In the late Spring of 2009, it felt like we broke through the log jam and buyers started to decide it was time to buy.   Buyers seemed to finally be more motivated by the first time home buyer tax credit and attractive interest rates than they were by fear that the sky was falling.  We saw the momentum continue through the end of the year with multiple offers becoming more common once again as buyers got concerned about the first time home buyer credit going away (which ended up getting extended until April 30, 2010).  

Will 2010 be a continuation of that nice flat line we saw develop at the end of 2009?  I think things are going to be active in early 2010 in the San Carlos real estate market and we may see the median price go up for no other reason than we have too little inventory (we have 27 single family homes on the market in San Carlos as I write this). 

If you’d like an early copy of my annual review of San Carlos real estate, please email me.  I have written one that looks at all of San Carlos and one that looks specifically at the San Carlos hills.

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Absorption Rate for San Carlos Real Estate for Week Ending 1-10-10

Posted on 10 January 2010 by vvandervort

rain dropsHappy New Year!  I hope you had a relaxing end to your 2009 and found some quality time to spend with friends and family.  I enjoyed getting away for a vacation with my extended family and am now looking forward to getting back into the swing of things. 

2010 promises to be an interesting year in real estate!  Many people are making their predictions for what will happen in the next 12 months.  In a few weeks, I will be posting my year end summary of the San Carlos real estate market and at that time will put forward my thoughts on 2010.  What I can say for sure… is that as soon as I got back into town, I had several clients calling me about making offers on properties and the ones they were calling on were in multiple offers.  I so wished that these buyers would have acted in December when things were a little less active.  It seems every year there is a significant group of people who are resolved to buy real estate and they get active as soon as the calendar turns. 

Okay, onto what’s happened this last week.  Four single family homes listed in San Carlos.  They are:

Street Address List Price Beds Baths (F|P) MLS Number Age
988 HOLLY ST $399,000 2 1|0 81001058 71
1125 WALNUT ST $769,888 1 1|0 81000939 65
434 HILL WY $1,465,800 3 2|1 81000520 5
2630 HOWARD AV $1,695,000 4 3|0 81000119 0
         
           
           
           
           

There was actually a 5th – 1805 White Oak Way, but that one was just a relist.

Only one went pending in San Carlos this week, which is why I put all the rain drops in this post because it could get really soggy if we have 4 properties list per week and only one sell. The lucky sellers in San Carlos this week were:

Street Address List Price Beds Baths (F|P) MLS Number Age
119 CHESHAM AV $849,000 3 2|0 80951527 50

Wishing you a fabulous start to 2010!

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San Carlos’ Real Estate Absorption Rate for Week Ending Dec. 6, 2009

Posted on 07 December 2009 by vvandervort

We currently have 33 single family homes on the market in San Carlos. 

This last week 2 new single family homes were listed in San Carlos.  They are:

1944 EATON AV $959,000 3 2|1 1,700 SqFt 4,500+ to 6,500 SqFt 59 San Carlos 1 80955638
19 WHITMAN CT $899,000 3 2|0 1,760 SqFt 4,500+ to 6,500 SqFt 41 San Carlos 1 80955813

I hummed and hahed about putting in 19 Whitman Ct because it has been on the market for 171 days now, but it just got relisted by a different agent and at a lower price (had previously been at $930,000).   Just a little FYI for all of you buyers and sellers in the heat of real estate right now.  Earlier this year, our MLS changed a policy so that when a home gets relisted by a different agent, the days on market does not zero out.  A year ago, when a house got relisted with a different agent, the days on market went to zero.  This can be an really important factor in how negotiations go.  I personally don’t think it is fair of the MLS to penalize the home owner by not allowing the days on market to be zeroed out when they switch agents.  The ONLY way that the days on market now can get zeroed out is when the home has been off the market for at least 30 days. 

I digress!  Back to absorption rates… Here are the single family homes in San Carlos that sold this week:

2120 BELMONT AV $909,000 3 2|0 1,418 SqFt 4,500+ to 6,500 SqFt 60 San Carlos 1 80955117
1349 BRITTAN AV $759,000 3 1|0 1,360 SqFt 4,500+ to 6,500 SqFt 62 San Carlos 1 80953734
776 TAMARACK AV $719,950 3 2|0 1,540 SqFt 4,500+ to 6,500 SqFt 62 San Carlos 1 80949686
184 SYCAMORE ST $649,000 2 1|0 1,220 SqFt 6,500+ to 8,000 SqFt 61 San Carlos 1 80952834

No surprise that 2120 Belmont Ave in San Carlos is a “pending no show”.  That was a sweet house and when they got multiple offers, no doubt, someone put in an excellent offer. 

So if we had 2 listed and 4 sell this week and an inventory of 33 homes, we would get through our current inventory in 16.5 weeks.

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The Not-So-Attractive World of San Carlos Foreclosures

Posted on 02 December 2009 by vvandervort

It strikes me that every person who walks in the door of my open houses these days in San Carlos wants to know about scoring a deal by buying a foreclosure property. 

First off, I hate calling them foreclosure properties.  To me that implies that they are about to be foreclosed upon.  That ugly process has already been done, so you pretty much always hear me referring to them as “bank owned” properties.

 Here’s my short list on why I hate dealing with San Carlos foreclosures. 

1.  They always seem to have sewer problems.  See, no one has been living in them for a while because the foreclosure process does take a while and when an owner is being foreclosed upon, they have no problem putting the toilet paper roll down the toilet in addition to the toilet paper itself.  Then, of course, the bank doesn’t pay for a sewer inspection, so the buyer gets stuck with the $150+ inspection fee.  And when you do find something, the bank hates to negotiate any further on the price.  If you have to walk on the deal, you’ve just lost your $150 plus all of the other inspections you’ve paid for, and probably your appraisal fee.

2.  There are no disclosures at all.  You don’t really know the value of the Transfer Disclosure Statement and the Supplemental Sellers’ Checklist until you don’t get them at all.  These two forms give you 12 pages of really useful information and history about the home.  Since the bank never lived in the house, they don’t know anything to disclose. 

3.  Surprises!  If you actually close the deal on a bank owned home and you move in, you are often hit with unforeseen items.  Imagine you’re out front socializing with your new neighbors and your neighbor tells you about the time some crazy lunatic broke into the home.

4.  95% of the time, they are listed by some out of the area agent who has no clue about the San Carlos real estate market, nor the norms of how we complete our real estate transactions around here.  It ends up making more work for the buyer’s agent.  On a deal I was in earlier this year, I had to supply the agent with vendors for getting quotes on the property because they had no clue who would be reputable around here.  On another deal, I guess the agent is too lazy to drive down from the city because his lock box is still at the property 60 days after we’ve closed escrow. 

Okay, for you folks who still think you’d like to buy a San Carlos foreclosure, the only one we have available is 1651 Alameda de las Pulgas listed at $519,900. 

You know, foreclosures could be worse… they could be short sales!  I’ll delve into that can of worms in a future post.

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San Carlos’ Real Estate Absorption Rate for Week Ending Nov. 29, 2009

Posted on 02 December 2009 by vvandervort

Here are the single family homes in San Carlos that were listed the week of Thanksgiving:

2120 BELMONT AV $909,000 3 2|0 1,418 SqFt 4,500+ to 6,500 SqFt 60 San Carlos 1 80955117
201 ABERDEEN DR $1,128,000 3 2|0 1,850 SqFt 6,500+ to 8,000 SqFt 19 San Carlos 1 80955077
233 BAY VIEW DR $1,149,000 3 3|0 2,650 SqFt 8,000+ SqFt to .25 Acre 49 San Carlos 1 80955197

Here’s what sold in San Carlos the week of Thanksgiving:

311 OLD COUNTY RD $399,000 2 1|0 820 SqFt 4,500+ to 6,500 SqFt 61 San Carlos 1 80953629
105 WILSHIRE CT $650,000 3 2|0 1,390 SqFt 4,500+ to 6,500 SqFt 53 San Carlos 1 80953394
534 WELLINGTON DR $799,000 3 2|1 1,450 SqFt 6,500+ to 8,000 SqFt 49 San Carlos 1 80932211
1578 MORSE BL $1,980,000 4 3|0 3,100 SqFt 4,500+ to 6,500 SqFt 0 San Carlos 1 80928884

So we ended up with 4 selling and 3 listing in San Carlos.  And our overall inventory is at 34 homes.  At this week’s absorption rate, we have 34 week’s of  inventory.   That’s quite a bit higher than the past weeks, but because I track this on a weekly basis, there is more fluctuation in the numbers than there would be if I tracked it on a monthly basis.  I suspect that for this upcoming  week, it’ll be back down since even fewer properties will get listed.  For sure, 2120 Belmont Ave will sell this week. That is one of the best properties I’ve seen in the White Oaks area for a few months for sure, if not longer.

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