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The San Carlos Real Estate Week in Review: 12-13-14.

The San Carlos Real Estate Week in Review is the only comprehensive weekly summary of the San Carlos real estate market, and it’s published every Monday on the White Oaks Blog.

Chuck’s Sales

Focus = Results. If you hope to succeed in this ultra-competitive real estate market, it’s imperative that you enlist the help of an experienced Realtor who is laser-focused on the local real estate market, and who thoroughly understands the micro-economic nuances of each neighborhood.   The stakes are simply too high …

Behind the Numbers: $2,000,000 Home Sales in San Carlos.

The number of homes to sell for $2,000,000 or above in San Carlos has by almost 70% in 2014. While this may not be totally surprising given the state of the local economy, there are some interesting trends that emerge when we dig into the numbers.

Map of San Carlos Regions

The Realtor Zones. When it comes to residential real estate, the City of San Carlos is divided up into 6 different real estate “zones”: Alder Manor (Area 350), Beverly Terrace (351), El Sereno Corte (352), Howard Park (353), Clearfield Park (354), and Cordes (355). When a home is for sale …

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High School Proposal Pits San Carlos Neighbors Against High School District

The_new_school

Education Showdown.

Despite the protests of a vocal San Carlos neighborhood group, the Sequoia Union High School District voted unanimously last week to proceed with the purchase of the industrial complex at 535 Old County Road with the intent of constructing a magnet high school. As reported a few weeks ago on this site, the District is looking to build two magnet high schools within its boundaries as a way to alleviate capacity constraints at its existing schools due to surging enrollment in the area. The other location that the District has purchased for the second magnet school is at 150 Jefferson Drive in Menlo Park. The District hopes that the schools will attract 300-400 students each, according to this article in the Mercury News.

The San Carlos location that has been chosen for the magnet school creates an obvious problem that must be sufficiently addressed by the District: Traffic and parking. On a normal day, the combined intersections where both Industrial Road and El Camino Real meet Holly Street are extremely congested, especially at peak commute times. A big question mark with this proposal is how to accommodate the ingress, egress, and parking needs of 400 students plus faculty without completely overwhelming the area with gridlock.

I know from firsthand experience that when there are baseball and soccer games at Laureola Park, parking and traffic can be extremely challenging, and the attendance at these kinds of events are only a fraction of what a high school will draw on a daily basis. So coming up with a viable solution for this problem should be at the top of the District’s list of priorities if this project indeed moves forward.

And therein lies the big question — whether or not the project will indeed proceed. Neighbors in affected areas of San Carlos are extremely well informed and organized and they have certainly been battle-tested recently, addressing local developments such as the new parking restrictions on Holly Street, the Landmark Hotel proposal, and the Transit Village. The residents don’t object to building a magnet school in San Carlos, or even in the greater eastside section — provided that it’s a sensible location. This particular location creates some real and serious issues that must be adequately addressed.

From the tone of the comments in the Mercury News article, these residents appear ready to dig in their heels on this one.  There is a petition posted on the Greater East San Carlos Neighborhood Association website which is seeking support to block the initiative.

What Do You Think?

What is your opinion of a proposed magnet high school at 535 Old County Road? Good idea, or ill-advised?  Register your vote in the poll below, or as always, voice your thoughts in the comment section.

Should a magnet high school be built at 535 Old County Road in San Carlos?

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The San Carlos Real Estate Week in Review: 12-13-14.

Holiday Calendar

As we enter the final weeks of the year, the pace of activity is starting to slow down.  This is to be expected, since December and January are perennially two of the slower months in the real estate year.   Last week, “2” seemed to be the magic number — two new listings, two pending sales, and two closed escrows.

I would expect more of the same this week as we start the final “full” week of 2014.   Most people who are considering selling their homes will likely wait until after the first of the year to avoid competing with the holiday season. This is a big reason why our inventory is where it’s at  —  a combined total of 5 homes, townhomes, and condos available in the entire city!  I can’t remember a time when inventory was that low.

But rest assured, that will change in the new year…

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 12-13-2014:

San Carlos Housing Data 12-13-14 Prior Week
Closed Sales for the Week: 2 5
Average Sold Price: $1,288,000 $1,255,100
Average $/Sq Foot (Sold) $1,009 $798
Average Sold – Percentage Of List Price: 120% 114%
Average DOM of Closed Sales 11 17
No. of Homes Pending Sale: 18 18
No. of Active Listings: 4 6
Average Price of Active Listings: $1,344,250 $1,467,798
Average DOM of Active Listings: 19 35
Average $/Sq Foot (List) $777 $722
Active-Pending Ratio: 0.21 : 1 0.33: 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 12-6-14.

Calendar

We are moving into the second week of December, and the San Carlos market is showing quite a bit of resiliency to the normal holiday slow-down. Three listings braved the calendar (and the elements) and made their market debut this past week — and why not?  Even with the addition of these three homes, there are still only 6 homes for sale in the entire city! If competition is what you want to avoid as a seller, you can hardly ask for a better climate than what you have right now. There are still plenty of buyers out looking for a home, too, as open houses were reportedly well-attended over this past weekend.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 12-6-2014:

San Carlos Housing Data 12-6-14 Prior Week
Closed Sales for the Week: 5 2
Average Sold Price: $1,255,100 $1,342,500
Average $/Sq Foot (Sold) $798 $675
Average Sold – Percentage Of List Price: 114% 120%
Average DOM of Closed Sales 17 11
No. of Homes Pending Sale: 18 20
No. of Active Listings: 6 6
Average Price of Active Listings: $1,467,798 $1,347,650
Average DOM of Active Listings: 35 25
Average $/Sq Foot (List) $722 $814
Active-Pending Ratio: 0.33 : 1 0.3: 1

>>> Click Here to Read the Full Post
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San Carlos Night of Holiday Lights 2014

Holiday

Friday December 5, 2014

Are you having trouble getting into the holiday spirit?  Well, the San Carlos Park and Recreation Department has the cure for you. Downtown San Carlos will light up again for the holidays this coming Friday December 5 with the annual Night of Holiday Lights. This popular event runs from 5:30-8:30 PM, with the official lighting festivities happening around 6:30 pm.

There will be music, family fun, decorations, and entertainment for everyone. It’s a great tradition that reminds you that we still live in a town…. not a big city. And remember that local businesses and restaurants will be open during the festivities, so make this part of your Friday night out!
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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Stuff the Bus With Toys!

Sheriff

Annual Sheriff’s Department Toy Drive.

Join the San Mateo County Sheriff’s Department this coming Saturday December 6 for their annual “Stuff the Bus” holiday toy drive, which helps shed some cheer on those who are less fortunate this holiday season. The Sheriff’s Department community outreach organizations, with help from the Redwood City and San Carlos Fire Departments, Bianchini’s Market, and Toy’s R Us, will be at various locations throughout the mid-Peninsula on Saturday to collect toys and cash donations in lieu of toys.  In addition, there are dozens of collection barrels located throughout the area that will be available all month for people to drop off unwrapped toys and books.

Last year, the Department estimated that they distributed gifts to nearly 700 local families, and they expect that number to grow even larger this year as more families are stretched to make ends meet during the holidays.

The Saturday festivities will be at the following locations:

  • 9:00 AM – 1:00 PM at Bianchini’s Market, San Carlos
  • 10:00 AM – 1:00 PM at the Toys R Us store in Redwood City.
  • 2:00 PM – 5:00 PM at the Toys R Us store in Foster City

There will be lots of fun activities there for the kids, too, and even free pictures with Santa for everyone who makes a donation.   So don’t miss out on this opportunity to make the holidays brighter for some families in need!

And many thanks to all of the folks at the Sheriff’s Department, and their many partners in this event, for such a fantastic example of holiday goodwill and community support.

14 stuff the bus

 
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 11-29-14.

December Calendar

It’s kind of ironic that today is Cyber Monday, because there’s virtually nothing for sale in the San Carlos real estate market.  As of this morning, there are only 6 single-family homes for sale in the entire city, which is spot on to what I predicted last week. It’s even worse in the condo/townhouse market — there’s only one of them for sale right now. December is not typically a month that sees lots of new listings, so you can expect that inventory is going to stay in the tank until after the first of the year.

On the topic of new listings, it certainly appears now that 2014 will finish with the lowest level of new single-family home listings to hit the market in the past 10 years — unless a flurry of new listings were to hit in the next 31 days. I will post all of the relevant statistics in the annual year-end wrap-up, but that’s a significant trend that most certainly had an influence on the direction that housing prices headed in San Carlos in 2014…which, to nobody’s surprise, will likely be the highest level on record.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 11-29-2014:

San Carlos Housing Data 11-29-14 Prior Week
Closed Sales for the Week: 2 8
Average Sold Price: $1,342,500 $1,139,750
Average $/Sq Foot (Sold) $675 $907
Average Sold – Percentage Of List Price: 120% 104%
Average DOM of Closed Sales 11 20
No. of Homes Pending Sale: 20 16
No. of Active Listings: 6 18
Average Price of Active Listings: $1,347,650 $1,244,799
Average DOM of Active Listings: 25 36
Average $/Sq Foot (List) $814 $707
Active-Pending Ratio: 0.3 : 1 1.1: 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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A New High School in San Carlos?

San Carlos Dons

Magnet School Proposal.

When the topic of education comes up in San Carlos, there probably isn’t a bigger lightning rod than the high school situation – or lack thereof, right here in the City of Good Living.

For those of you relatively new to town, San Carlos once had its own high school, which was located where Highlands Park now stands on Melendy Drive. San Carlos High School at that time was the newest of the high schools in the District, but was closed in 1982 due to declining enrollment. The land was sold by the District to developers, and the land surrounding the athletic fields where the school used to reside was converted over to residential property. It was a decision that many San Carlos residents now regret in hindsight, especially now as the District grapples for solutions to solve its rapidly growing enrollment.

If there’s a single shortcoming that ever gets singled out with the otherwise excellent education track in San Carlos, its the lack of a high school.

The option to build another “full-size” high school with athletic fields anywhere on the Peninsula, let alone San Carlos, is virtually impossible due to the lack of the contiguous acreage required, and the restrictions on where such a facility could be built if the acreage was indeed available. This has made the notion of developing multiple smaller “magnet” schools a more feasible solution to the enrollment problem that the District now faces.  In other words, break the problem into smaller bites — not too different than what the San Carlos School District is doing with their “bridge school” solution for 4-5 grades.

The District has taken a definitive step to developing one of these “magnet” high schools right here in San Carlos by entering into contract to purchase the light industrial facility at 535 Old County Road, which is ironically adjacent to Laureola Park (the site of another San Carlos school that was regrettably closed years ago.)  Here is a map of the location:

The school would house approximately 400 total students, which is about 1/5 of the enrollment of either Sequoia or Carlmont High Schools — or, smaller than just the freshman class at either of these schools.   The contract for the purchase of the property has a 60-day contingency period built in to allow the District to complete its due diligence of the location, which involves determining compliance to the rigorous restrictions that are in place regarding where a school can be built today.   If everything checks out, the purchase can close as early as mid-January of 2015.

There’s a great article by Angela Swartz of the Daily Journal with more details about the proposal.  Click here for that article.
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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The San Carlos Real Estate Week in Review: 11-22-14.

Thanksgiving calendar

The fall market is starting to wind down, as it normally does right about this time of the year. Only one new listing hit the market last week in San Carlos, and the inventory of available homes has dropped back down to 13. Worse yet for home buyers, when you take a closer look at that list of 13, easily half of those could be in contract before the Thanksgiving holiday, which will drive that inventory well back back into the single digits.  It will likely remain at that level through the remainder of year, short of some unexpected surge of new listings, which is definitely atypical in December.  After the Thanksgiving week, there are really only 3 weeks remaining weeks in the year that are not interrupted by a holiday, so the number of home shopping days is definitely limited.

Happy Thanksgiving to all the loyal readers of the White Oaks Blog!  I hope you have an enjoyable and memorable holiday with friends and family.

Here are the details from last week:

By the Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the week ending 11-22-2014:

San Carlos Housing Data 11-22-14 Prior Week
Closed Sales for the Week: 8 6
Average Sold Price: $1,139,750 $1,590,833
Average $/Sq Foot (Sold) $907 $762
Average Sold – Percentage Of List Price: 104% 108%
Average DOM of Closed Sales 20 22
No. of Homes Pending Sale: 16 19
No. of Active Listings: 18 18
Average Price of Active Listings: $1,244,799 $1,391,035
Average DOM of Active Listings: 36 32
Average $/Sq Foot (List) $707 $770
Active-Pending Ratio: 1.1 : 1 0.94: 1

>>> Click Here to Read the Full Post
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Are you ready to step up to the most comprehensive data available about the San Carlos Real Estate market? Then subscribe to the White Oaks Blog for free by clicking here. Be sure to follow the White Oaks Blog on Facebook at https://Facebook.com/WhiteOaksBlog , and on Twitter @WhiteOaksBlog.
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