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The San Carlos Real Estate Week in Review: 5/30/2016.

The San Carlos Week in Review is the only in depth weekly recap of the San Carlos real estate market, and it’s available every week on the White Oaks Blog.

New Listing: 29 Hillcrest Road, San Carlos.

29 Hillcrest Road is my latest listing in San Carlos. This fabulous home has stunning views of the San Francisco Bay, and boasts a extremely functional layout.

The Streets of San Carlos.

What’s in a Name? You’ve undoubtedly noticed as you’re walking the streets of San Carlos — perhaps dropping your kids of at White Oaks School, taking the dog for an evening stroll, or just heading downtown for dinner — that the name of the street that you’re on is frequently …

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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The San Carlos Real Estate Week in Review: 8-23-15.

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The Scoop.

Buyers were certainly out in force last week in San Carlos as they snapped up eight of the single-family homes that were on the market. The problem is that the sellers were clearly not on the same page, with only 3 new listings to hit the market during the same stretch. The net result is that the inventory of single-family homes for sale in San Carlos as we head into the new week sits at 7.

What’s even more discouraging for buyers hoping to find something in San Carlos is that of those seven homes, four of them are in the upper price range for San Carlos — $2.3M and above, and those 4 have been on the market for an average of 38 days. Of the remaining three, only one is in that sweet spot between $1.5M and $2M.  That’s not much to choose from as we start the new week.

Condo and townhouse buyers aren’t faring much better, either. Starting the week, there are only 2 units for sale in all of San Carlos.

Here’s the recap from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 8-23-2015:

San Carlos Housing Data 8-23-15 Prior Week
Closed Sales for the Week: 8 3
Average Sold Price: $1,536,876 $1,178,333
Average $/Sq Foot (Sold) $967 $823
Average Sold as Percentage Of List Price: 112% 109%
Average DOM of Closed Sales 16 12
No. of Homes Pending Sale: 22 22
No. of New Listings: 3 3
Total # of Active Listings: 7 12
Average Price of Active Listings: $2,256,754 $2,131,583
Average DOM of Active Listings: 23 17
Average $/Sq Foot (List) $841 $767
Active-Pending Ratio: 0.32 : 1 0.55 : 1

>>> Click Here to Read the Full Post
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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 Best of Tour in San Carlos: 8-18-15

The best

2600 Howard Avenue.

Considering that there were only two homes that were “officially” on tour this week in San Carlos, it was hardly a competition to pick the winner for Best of Tour for this post. But frankly, even if there were 10 houses on tour in San Carlos competing with this home, there’s a very good chance the results would have remained the same anyway, because this week’s winner truly has all of the right stuff.

2600 Howard Avenue in San Carlos is a beautifully remodeled 4BR/3BA, 2,606 square foot home that is co-listed at $1,898,000 by my partners Bob Bredel and Tatum Clarke of Dwell Realtors. (Click on the picture below for the listing details).

2600 Howard Avenue is a great house in many ways. First of all, it was recently rebuilt in 2010, so everything feels fresh and modern, especially the rich dark wood floors and the fabulous gourmet kitchen:

2600 Howard Avenue Kitchen

You also get that elusive 4th bedroom that so many home buyers are looking for right now, and most important (IMHO), is that the layout is supremely well designed. Everything is in the right place. With three bedrooms upstairs, and one bedroom down, it’s the perfect setup to keep all of the family together on one level, and have an extra room on the main level for a guest, or a home office.

On the main level, you get that open floor plan that is so appealing to today’s buyers. This makes the home equally functional for either entertaining, or just for casual living for the family.

2600 Howard Avenue FR

 

This home is located smack in the middle of anywhere you want or need to be in San Carlos — it’s not far from about schools, downtown, or either of major commute routes (101 and 280).

If you’re looking for a newer 4BR home in San Carlos, put this one at the top of your list. It will be open from 2:00-4:00 on both Saturday and Sunday, or you can contact me for a private showing.

Honorable Mention

As I mentioned earlier, there was only one other single-family home on tour in San Carlos this week. Click on the address below for all of the listing details:

  • 496 Wellington Drive: A fabulous value for a 3BR home on the west-side of Alameda in San Carlos. Listed at $998,000 by Mike Danao of Better Homes Realty.

That’s the recap from this week’s tour in San Carlos. Let me know if you’re interested in seeing any of these great homes!
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 8-16-15.

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The Scoop.

This past week marked the first of the back-to-school weeks, and the end of summer break for many in San Carlos. It’s shocking to believe that summer break is already over! But it also marks the beginning of what we hope will be a very robust Fall real estate market here in San Carlos. This is traditionally the last 3-month period of the year (August 15 – November 15) that sellers will put their homes on the market before shutting everything down for the holidays.

The activity last week was underwhelming by any standard. Only 3 new single-family listings hit the market, and 4 homes that were put into contract. We are starting the week with an inventory of 12 homes for sale in the entire city, and only one condo. Here’s to hoping we see more this week.

Here’s the scoop from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 8-16-2015:

San Carlos Housing Data 8-16-15 Prior Week
Closed Sales for the Week: 3 3
Average Sold Price: $1,178,333 $2,001,000
Average $/Sq Foot (Sold) $823 $888
Average Sold as Percentage Of List Price: 109% 113%
Average DOM of Closed Sales 14 28
No. of Homes Pending Sale: 22 21
No. of New Listings: 3 7
Total # of Active Listings: 12 13
Average Price of Active Listings: $2,131,583 $2,074,308
Average DOM of Active Listings: 17 11
Average $/Sq Foot (List) $767 $751
Active-Pending Ratio: 0.55 : 1 0.62 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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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San Carlos Places Black Mountain Bond Measure on the November Ballot.

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The Future of the Black Mountain Property.

In their meeting on July 27, 2015, the San Carlos City Council voted unanimously to place the fate of the former Black Mountain Water land in the hands of the San Carlos residents. On November 3rd, San Carlos taxpayers will asked to approve a $45M bond measure to allow the City of San Carlos to purchase, enhance, and secure the property as open space to be enjoyed as a park.

The land itself is a combination of several parcels that add up to approximately 25 acres in the hills of San Carlos, which makes it the single-largest remaining open space in the city. For those of you not familiar with the location of the Black Mountain parcel, here’s an aerial shot of its relative location in San Carlos. Many will be surprised to realize that they probably drive by this site numerous times every during their normal travels about San Carlos:

 

San Carlos Black Mountain Parcel Boundary (approx)

San Carlos Black Mountain Parcel Boundary (approx)

 

In terms of housing development, the land could be zoned for as many as 100 single family residences. The San Carlos City Council has clearly shown its preference for the future of this land by pushing forward with the bond measure to preserve this land as open space.

 
Here is a quick informational video that discusses this relatively little-known gem in San Carlos:

 

The bond measure would tack on $20 per $100,000 of assessed value of every property in San Carlos. The assessed value is what your current property taxes are calculated from, and is not the same as the market value.  But on average, the bond measure will cost the average San Carlos household somewhere between $200-$400/year.

The City of San Carlos has created an FAQ page that answers most of the basic questions about the land and the proposed purchase. You can see the FAQ’s by clicking here.  There’s also a complete page on the City of San Carlos website that discusses the land, the history, and the bond initiative in more detail.

I will update the blog with more details about the actual bond measure as we inch closer to the election. In the interim, what are your thoughts about the initiative? Feel free to comment below.
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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 Best of Tour in San Carlos: 8-11-15

The best

There seemed to be an abnormally high percentage of BIG houses that were featured on broker tour this week in San Carlos. Of the six homes that were on their first tour Tuesday, half of them were 3,000 square feet or larger. That’s definitely bigger than your “average” San Carlos home, and is generally not the mix one would expect to see on a typical tour week.

But there they were, in all of their grand glory: 281 Dartmouth Avenue at 3,000 square feet, 204 Exeter Avenue at 3,450 square feet, and 313 Oakview Drive at a whopping 4,212 square feet. An interesting side note is that two of these three are flips, which means that investors and contractors are not shy about testing the upper price range of the San Carlos market.

281 Dartmouth Avenue.

My pick for the “Best of Tour San Carlos” this week is not the biggest of the bunch, but in my opinion offers the best of what today’s buyers are looking for. It’s 4BR/3.5BA newly remodeled home that is listed at $3,198,000 by Todd Weidmer at RealSmart Properties. (Click on the picture below for the listing details).

281 Dartmouth Avenue, San Carlos

281 Dartmouth Avenue, San Carlos

281 Dartmouth Avenue is not the typical house that you would expect to find in the northern hills of San Carlos, especially on Dartmouth Avenue where so many of the homes are perched on a steep hillside.  This fabulous home is situated on a massive and beautifully landscaped 14,800 square foot mostly-flat lot, which is a rarity anywhere in San Carlos, let alone in this part of town. The back of the home features fabulous views of the south bay.

281 Dartmouth Avenue - Back Yard

281 Dartmouth Avenue – Back Yard

It seems that no detail was overlooked in the design and construction of this home, starting right away with the intricate craftsman type details of the front entry:

281 Dartmouth Avenue - Entry

281 Dartmouth Avenue – Entry

But what will really capture the eyes (and hearts) of potential buyers is the open, intelligent floorplan of this home. Everything in this home is situated just right, from the placement of the bedrooms, to how the kitchen and great room flow together so seamlessly. It’s the kind of home that can be a cozy, luxurious family home one day, and then host a knock-out dinner party the next.

For those of you that are extra particular about the school district, this home is in the boundaries for Arundel Elementary, Tierra Linda Midddle, and Carlmont High Schools — a triple-play that is very desirable to many home shoppers in San Carlos. (Buyers should verify this data with the respective school districts, of course.)

When a home is listed at over $3M in San Carlos, it really needs to bring the goods. 218 Dartmouth does just that.

Honorable Mentions

There were 5 other homes that were on tour in San Carlos this week. Click on the addresses for all of the listing details:

  • 313 Oakview Drive:  This was a very close second place for my “Best of Tour” pick this week. This is the other of the two flips, and it has LOTS of space at 4,212 square feet. Great views, and an equally great White Oaks location. Listed at $2,595,000 by Medina Begic of Coldwell Banker.
  • 204 Exeter Avenue:  The third of the three large homes on tour this week, it is nicely appointed with lots of space — AND it’s also in the Arundel/TL/Carlmont zone. Listed at $1,788,000 by Donna Colangelo of Intero.
  • 171 Rogers Avenue: A surprisingly spacious 3BR/3BA home in a great central location just off upper Brittan Avenue. Listed at $1,650,000 by Tom Kucsak of Berkshire Hathaway.
  • 509 De Anza Avenue: If there was a category for best sleeper pick of the week, this one would win hands down.  LOTS of potential with this home – it just needs some updating.  Logical floorplan, and a huge 10,140 square foot yard. Listed at $1,449,000 by Michelle Glaubert of Coldwell Banker.
  • 2840 Brittan Avenue:  A lot of house for the money.  Great location on upper Brittan for those who need to get to Interstate 280 quickly in the morning. And it’s another house with a huge lot. Listed at $1,399,000 by Steve Hicks of Gateway Properties.

That’s the recap from this week’s tour in San Carlos. Let me know if you’re interested in seeing any of these great homes!
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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 Precipitous Drop in New Listings Squeezes the Mid-Peninsula.

house squeeze

The Market is Tight Everywhere.

As I have written about numerous times on the blog, San Carlos is in the midst of an extremely tight real estate market in 2015 that is characterized by paltry inventory levels and the lowest number of new listings of any year in the past decade. So far this year, the number of new single-family residence listings in San Carlos has dropped a whopping 21% from just last year.

It’s no wonder it seems like there are never any houses on the market to choose from, right?

But if you’re shopping for a home anywhere else on the mid-Peninsula, chances are that you’re experiencing the very same tight market conditions. Nearly every community on the mid-Peninsula has seen the number of new listings drop in 2015 compared to last year, with San Mateo being the lone exception. That phenomenon is playing a huge role in driving up home prices to all-time highs on the mid-Peninsula.

How much has the listing pipeline dried up this year? The table below compares the number of new single-family residence listings so far this year compared to the same 7-month period last year in the communities on the mid-Peninsula:

Community Listings YTD 2015
Listings YTD 2014 Difference
Burlingame 135 180 -25.0%
San Carlos 167 210 -20.5%
Belmont 143 168 -14.9%
Foster City 65 74 -12.2%
Menlo Park 242 259 -6.6%
Redwood City 420 444 -5.4%
San Mateo 410 428 +4.4%

Source: Multiple Listing Service (MLS).

Now since this data is pulled directly from the MLS, it is not taking into account any homes that were sold off-market and not recorded later on the MLS for comparable purposes. So it’s quite possible that the data for some of the higher-end markets of the mid-Peninsula like Menlo Park and Burlingame might not be as accurate as other communities, simply because they tend to have more off-market sales.

But if one assumes that the percentage of those non-reported sales remained relatively constant over the past few years, then the general assumption should bear out that there are simply fewer homes for sale this year on the mid-Peninsula.  Regardless, it’s an undeniable fact that there are fewer homes being marketed on the MLS this year than there were last year.

It’s the Economy.

What’s the reason behind this? Quite simply, it’s the economy. We are in the midst of the strongest job market the Bay Area has seen in decades. People simply aren’t moving out at the rate they normally do because all of the high-paying jobs are right here. Even many retirees are choosing to stay put on the Peninsula to be closer to their grandkids, or because they prefer the weather and lifestyle here.

Many “move-up” buyers are also being forced out of this market, too. These are people who already own a home in the area who would traditionally move up to a larger home as they outgrow the starter home that they’re in. But many of those homeowners are finding it impossible to compete against strong, non-contingent offers — especially if they have to sell their home first before purchasing their next home. So many move-up buyers are forced to stay put and expand their existing home, which has resulted in a remodeling boom on virtually every block on the Peninsula. That’s great for housing contractors, but not so good for home buyers because each one of these would have been a new listing in a less heated market.

On top of all that the Peninsula is almost 100% built out, meaning there is no room for any significant new housing.  There is no land on which to build large housing developments like you have in the East Bay, so the only option left is to go vertical, which a number of communities like Redwood City are aggressively pursuing.  That means the total stock for single-family residences on the Peninsula will remain essentially unchanged going forward.

So until something significantly changes in the local economy, get used to the housing market being extremely tight. When we revisit these stats at the end of the year, it’s very likely that 2015 will go down in the records books as the lowest number of new listings for many communities on the Peninsula.
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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: 8-9-15.

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The Scoop.

Continuing our discussion from last week about the $2,000,000 sales mark for homes in San Carlos, this week marked another interesting milestone — the average list price for all 13 homes currently on the market in San Carlos is now sitting at $2,001,000. Since I have been compiling statistics for the Real Estate Week in Review, I cannot recall if or when the average asking price has ever topped $2M for a given week. I can remember that it wasn’t too long ago when the average price of a home in San Carlos first eclipsed the $1,000,000 mark, though.  It was more recent than you probably think!

The same milestone also held true for homes that closed escrow this past week, with two of the three homes selling for over $2,000,000. There doesn’t seem to be any reluctance to hit this mark in San Carlos, that’s for sure.

After a relatively busy week, the condo and townhouse market has went back to sleep. There were no new listings in San Carlos last week in this market segment, and no closed sales to report. Only one unit went pending last week, putting the inventory at three units for sale in the entire city. And those three should all be in contract sometime this week.

Here’s the scoop from last week:

The Numbers.

Below is a high-level view of the market performance for single-family residences in San Carlos. This data is for the 7-day period ending Sunday 8-9-2015:

San Carlos Housing Data 8-9-15 Prior Week
Closed Sales for the Week: 3 5
Average Sold Price: $2,001,000 $1,857,500
Average $/Sq Foot (Sold) $888 $777
Average Sold as Percentage Of List Price: 113% 115%
Average DOM of Closed Sales 28 14
No. of Homes Pending Sale: 21 17
No. of New Listings: 7 4
Total # of Active Listings: 13 13
Average Price of Active Listings: $2,074,308 $1,759,267
Average DOM of Active Listings: 11 14
Average $/Sq Foot (List) $751 $792
Active-Pending Ratio: 0.62 : 1 0.76 : 1

>>> Click Here to Read the Full Post
_____________________________________________________________________________

Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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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White Oaks Celebrates “National Night Out” Tonight!

National Night Out Logo

Bigger and Better.

As they have done for the past several years, the White Oaks Neighborhood Watch will host their own special block party tonight to commemorate “National Night Out“, an annual nationwide event that encourages residents to get out and meet their neighbors,  and welcomes local law enforcement officers and firefighters into the neighborhood to help combat crime.

This year’s biggest block party in White Oaks kicks will take place from 5:30 p.m. to 8 p.m. on Sunnydale Avenue between Elm and Stanford.  Last year, the annual event drew more than 200 people.  This year, says organizer Bill Widner, will see the return of Sanchos Taqueria catering truck and the addition the recently launched Steamin’ Burgers gourmet truck.  And of course don’t forget about the traditional free ice cream!  Everyone in White Oaks is invited.

Both the San Carlos Bureau of the San Mateo County Sheriff’s Office and the Redwood City/San Carlos Fire Department plan to have vehicles on display.  If we’re lucky, we’ll see the remote-controlled bomb-removal robot as well as the sheriff’s department’s SWAT team and their Bear Cat vehicle, according to Sgt. Rick Tippins. Also planning to be on hand is an engine company from the fire department. There may be a few other surprises as well. Be sure to bring the kids!

Just like last year, this section of Sunnydale will be closed off to traffic, giving everyone plenty of room to mingle with the first responders and neighbors.

This year’s White Oaks National Night Out is made possible by the gracious participation of the San Carlos Bureau of the San Mateo County Sheriff’s Office and the Redwood City/San Carlos Fire Department, courtesy of Sheriff’s Capt. Greg Rothaus and the fire department’s Emergency Preparedness Coordinator, Christy Adonis. White Oaks National Night Out is a great opportunity to meet and greet the first responders who are close by when we need them, and to learn about programs that can help us stay safe and secure.

Communities throughout the Bay Area and across the country are celebrating National Night Out, which has now reached near-holiday status. So bring the kids and your appetite to White Oaks, and help make this event the biggest one ever!

(Special thanks to White Oaks neighborhood watch proponent Ken Castle for getting the word out!)
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Welcome to to the White Oaks Blog — the most widely read blog dedicated to the San Carlos real estate market! Have blog updates sent to you automatically by subscribing 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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