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The San Carlos Real Estate Week in Review: 3-29-15.

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.

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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Wheeler Plaza Community Meeting – Thursday February 12.

Wheeler Plaza

Project Moving Forward.

The long awaited and often-stalled Wheeler Plaza Development in downtown San Carlos appears to be back on track again, with groundbreaking possibly happening in the next few months according to this article in the Daily Journal. This project has been the vision of community leaders for the past two decades, but has had to endure numerous delays and design changes to account for the changing political climate in California, and to address community feedback on the scope of the project.  If you’re not familiar with the Wheeler Plaza area, it’s the city-owned parcel that incorporates all of the parking lot behind Wells Fargo and Le Boulanger, as well most of the buildings along San Carlos Avenue between Laurel and Walnut Streets.  There’s good summary of the project on the City’s website.

What is now a parking lot and a collection of old and tired buildings is slated to be come a modern development with over 100 condos and about 10,000 square feet of brand new ground-level retail.   The artist renderings of the final project are very impressive, as they have obviously gone to great lengths to maintain the heritage of San Carlos in what will be the showcase of the downtown area.

WheelerSiteArea_1

Community Update Meeting.

But with the major hurdles now hopefully in their rear-view mirror, the City is ready to move forward and actually start putting shovels to dirt. In order to bring the local community back up to date on the latest iteration of the design and the anticipated development schedule, the City of San Carlos is hosting a Wheeler Plaza Community Update Meeting this coming week.   Here are the details:

When:  February 12, 2015
Time:    7:00 p.m. to 9:00 p.m.
Where:  San Carlos Library, 610 Elm Street, 2nd Floor Community Room

If you’re at all interested in finding out about the Wheeler Plaza project, this is the meeting to get all of your questions answered.  I have been following and documenting the progress of this project on the White Oaks Blog for the past 5 years, so I’m excited to see the latest update on what will be a spectacular addition to downtown San Carlos!
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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: 2-8-15.

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January of 2015 is officially in the books, and it was a robust month by January standards.  As I noted earlier on the blog, there were more new single family listings in January of this year than in any January in the past four years. And historically, January’s performance tends to be an indicator of how the year will go.  So if that logic holds true, buyers should have a slightly better inventory to choose from this Spring. Let’s see if that holds up.

Along those very lines, February is off to a promising start with 6 single-family homes and 3 town homes making their market debut this past week.  Market demand has remained very strong so far this year — of the four homes that went pending this past week, at least two of them fetched a significant number of  offers.  The listing at 205 Clifton raised everyone’s eyebrows when it was disclosed that it received 29 offers.  That has not been the norm this Spring, or at any time in San Carlos, but it does highlight the fact that the market between $1M and $1.5M remains incredibly hot in this market.

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 2-8-2015:

San Carlos Housing Data 2-8-15 Prior Week
Closed Sales for the Week: 1 4
Average Sold Price: $1,350,000 $1,228,675
Average $/Sq Foot (Sold) $785 $703
Average Sold – Percentage Of List Price: 113% 103%
Average DOM of Closed Sales 6 11
No. of Homes Pending Sale: 22 19
No. of Active Listings: 10 8
Average Price of Active Listings: $1,297,900 $1,282,494
Average DOM of Active Listings: 7 18
Average $/Sq Foot (List) $729 $689
Active-Pending Ratio: 0.45 : 1 0.42: 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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San Carlos School District to Issue Ballot Measure for Bundled, Increased School Tax.

February 4, 2015 San Carlos Schools 6 Comments
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Re-Ante the School Tax.

Facing the upcoming expiration in June of Measure B, the $78/yer parcel tax for San Carlos schools that has been in place since 2009, the San Carlos School District Board of Trustees has voted unanimously to put a new, bundled parcel tax on the ballot this Spring which will not only extend the timeline of both Measure B and Measure A funding, but will also increase the overall school tax that is levied per household.

In what will be a mail-only ballot, the school district will ask San Carlos homeowners to approve an extension of Measure B and increase that tax by 74%, or an additional $58 per year.  This revised tax will then be bundled with the  Measure A tax, the $110/year tax that was passed in 2011 and is set to expire in May of 2019.  The net result would be a combined new annual school tax of $246/year, which would then run through 2021.

According to this article in the Daily Journal, the District is optimistic that this revised tax will be embraced by the San Carlos community. Past history has shown that mail-only ballots of this sort tend to pass more often than not. The measure will require a full 2/3 majority to pass, and seniors will have the ability to opt out of paying the tax.  The funds will be prioritized “to attract and retain top-level educators, and implement curriculum that is focused on 21st century teaching methods”, according to the article.

If the tax initiative fails, it will cost the District over $720,000 in lost tax revenue, so a lot is on the line for the District.

What Do You Think?

Time for another White Oaks Blog poll — what do you think about the proposed school tax?  Will you vote in favor of it, or against it?  Feel free to cast your vote below. If you have more to say about it, make your opinion known in the comment section at the bottom of the post.

How Will You Vote on the Upcoming Combined School Parcel Tax?

View Results

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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 Month of January and San Carlos Real Estate.

Jan

A Telltale Month.

To the casual observer watching the San Carlos real estate market, it must seem as if there are virtually no listings hitting the market at all so far in 2015.  This is a very understandable perception, because with the pace of sales in today’s hyper-competitive San Carlos real estate market, it’s hard to build up any kind of inventory when everything seems to be selling in a week or less.

January is typically one of the slower months in real estate for closed sales since it largely reflects sales that were made in December, which is tradtionally one of the slowest months of the year for getting homes into contract.  But we tend to look at January as a bellwether month for how many new listings we can expect to see in a given year. If January starts fast out of the chute, history shows that it will be a robust year, and vice versa.

The two charts below show a pretty clear connection between January’s performance, and what you can reasonably expect for the year ahead.  The first chart shows the number of new listings in the month of January over the past 8 years:

San Carlos Home Sales:  New Listings in January

San Carlos Home Sales: New Listings in January

… and the second chart shows the number of new single-family home listings recorded annually over the past 8 years, 2015 obviously just being a year-to-date figure.

San Carlos Home Sales: Annual New Listings

San Carlos Home Sales: Annual New Listings

The two charts track each other very closely.  For example, in 2012, January yielded the lowest number of new listings over any January in the previous 7 years, and consequently went on to record the fewest number of listings for the year over that same period.  In stark comparison, 2011 had the second biggest January listings month and went on to record the second highest number of listings. The only notable exception was 2009, which was on the heels of the credit crash and the beginning of the recession.

Off to a Good Start in 2015?

If you subscribe to the analysis above, then the 23 new listings that registered on the MLS in January of this year suggests that we will see a nice bump up in the number of new listings to choose from in 2015. Is that a guarantee? Of course not — just as the monsoon rains we experienced a few weeks ago did not mark the end of the drought (we have been completely dry ever since). But we’re off to a relatively strong start so far in 2015, and having more listings on the market will provide a little more balance that this real estate market desperately needs.

We will keep an eye on this trend, and perhaps post another update at the end of this month…
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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 BIG Announcement, Part II: Dwell Realtors Opens in San Carlos.

BigAnnouncement

A New Kind of Brokerage.

Last week, I announced the first of two significant developments pertaining to the residential real estate landscape in San Carlos, and on the mid-peninsula. That first announcement was the unveiling of my strategic partnership with Bob Bredel, and the cross marketing arrangement between the White Oaks Blog and the San Carlos Blog. Bob and I are thrilled with the universally positive feedback we have received from this announcement, and we look forward to working together to provide an unprecedented level of service to our clients in the coming year.

In that same post, I also alluded to a much more significant development that we would be unveiling in a second announcement. Well, after countless days of waiting, that day has finally come.

On behalf of all of my partners and colleagues, I am thrilled to announce the launch of Dwell Realtors, a ground-breaking real estate brokerage right here in San Carlos!

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Real Estate Taken Hyper-Local.

Although the phrase almost sounds a little cliche, real estate is indeed local.  Whether you are buying or selling a home, you are always best served by teaming with a proven, experienced agent who has their finger firmly on the pulse of the local market.  But in today’s ultra-tight and competitive real estate market, just being local isn’t good enough.  Success in today’s market relies on being as close to every nuance in the local market as you can possibly be, and thus executing a strategy based upon the most most up-to-date information available.  In other words, it’s hyper-local.

Dwell Realtors was founded on this very belief — to maximize our client’s success through an unprecedented level of service and visibility to the local real estate market.

How will we do this?

First, Dwell Realtors has completely retooled the structure of the typical real estate brokerage.  We are comprised of a very select team of experienced and proven local agents who work in a collaborative environment to maximize our clients’ interests. We firmly believe that putting this much experience, market knowledge, and business under one roof will simply create more opportunities for our respective buyers and sellers.  This is the very core of the Dwell philosophy.

Second, we believe that technology is of vital importance in today’s real estate market, which is moving at unprecedented speed.  Technology keeps our clients better educated about the market, exposes them to more opportunities in the market, which ultimately helps them make better buying and selling decisions. It’s the very impetus behind the popularity and utility of the White Oaks and San Carlos Blogs

Our Team.

Dwell is comprised of some of the most well-know and respected agents in the local market.  Bob and I are thrilled to now be working with Joyce Romeo, Tatum Clarke, Laura Bertolacci, Tara Jarmillo, Teri Shaughnessy, Kristina Patrick, Sarah Ravella, Cliff Whearley, Alana Corso, and a few more incredible additions that will be announced in the coming weeks.  The underlying philosophy in creating the team stresses the quality of the agents, not the quantity.

But like anything in this world, the whole must be greater than the sum of its parts, otherwise it’s simply not worth doing.  And therein lies the magic of this team. There is a tremendous chemistry that is pervasive in this office, and more important, a refreshing spirit of transparency and collaboration that will only help everyone on the team provide a better level of service for their clients than they could do on their own.

We’re very excited to work with our colleagues in the local real estate market, and to provide a new face on the local scene.  Our new office is right in the heart of the White Oaks neighborhood in San Carlos at 1500 Laurel Street.  Be sure to like our Facebook Page at DwellRealtors, and follow us on twitter @DwellAgents!
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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: 2-1-15.

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The activity was very intense last week in the world of San Carlos real estate, especially considering that we’re still in the final week of January, which is traditionally a slower month.  But buyers really rolled up their sleeves and battled for the few homes that were on the market.  8 homes went into contract in the last 7 days, with the vast majority of them getting multiple offers.

That in itself is not a surprise, but the prices that some of these homes fetched will raise some eyebrows when they are posted in a few weeks. And the sheer strength of the offers that are being written (even the losing ones) is simply amazing.  Suffice it to say that the new year has not brought any relief in pricing for homes in San Carlos.  The game is definitely on.

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 2-1-2015:

San Carlos Housing Data 2-1-15 Prior Week
Closed Sales for the Week: 4 4
Average Sold Price: $1,228,675 $1,358,750
Average $/Sq Foot (Sold) $703 $860
Average Sold – Percentage Of List Price: 103% 99%
Average DOM of Closed Sales 11 37
No. of Homes Pending Sale: 19 15
No. of Active Listings: 8 11
Average Price of Active Listings: $1,282,494 $1,534,177
Average DOM of Active Listings: 18 16
Average $/Sq Foot (List) $689 $786
Active-Pending Ratio: 0.42 : 1 0.69: 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.
Get the best coverage on the San Carlos real estate market delivered right to you!
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The White Oaks Blog is now back in White Oaks…

Coming Home

Excited to be Home…

Last week, I announced on the blog that we were getting ready to launch a brand new sleek, hip real estate brokerage that would be located in San Carlos, and would be comprised of some of the more recognizable names in the local market.  While we are anxiously awaiting the go-ahead to release the official name and the details of the brokerage, I can tell you that we’re already busy at work getting this exciting venture off the ground.

Aside from working with an absolutely awesome team of agents, what excites me the most is that our new office is right here in White Oaks…  the namesake of this very website.  It’s tremendously exciting to be back in the neighborhood, and I can’t wait until we can share all of the details with you.  But for now, it’s just a thrill to have be back home.

Have an amazing weekend!
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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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2014 San Carlos Townhouse/Condo Report.

Townhouse

Big Rebound for Condos and Townhomes.

A few weeks ago, we did an in-depth analysis of the 2014 sales performance for all single-family home sales in San Carlos. We took a look at such metrics as Average Sales Price, Number of New Listings, and Average Days on Market, and compared them to the performance over the past 7 years.  The numbers were quite revealing, as they confirmed that we are indeed on a massive upswing in pricing. But some of the metrics were also a bit surprising, such as the fact that we experienced the lowest level of new listings in San Carlos than any point in the last 10 years.

In this post, we’ll take a similar look at the condo and townhouse market in San Carlos, and how it has performed over the same period.  For the purpose of this analysis, there is no differentiation made between condos and townhouses in these numbers — for simplicity, the are grouped together and the terms are used interchangeably.

Prices Surge Upward.

As the local economy improved and house prices began their breathtaking ascent, condos and townhouses became very attractive alternatives to those buyers who were simply priced out of the single-family home market, or who did not want the hassle of maintaining their own home.  Consequently, prices rose over 12% from 2013, and recovered a whopping 64% from the trough of the market in 2011.  Back in those dark days, quite a few condos were being sold as short sales, and unfortunately a disproportionate number went to foreclosure.  The $574,227 figure in 2014 squeaked ahead of the same metric posted at the peak of the market in 2007, thus marking a full recovery in prices from the depths of the recession.

>>> 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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Chuck’s Recent Sales

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I've helped over 50 families make their next move in the City of San Carlos, and many more in the surrounding communities. Click the sign below to see a list of all the homes that I have helped my clients buy or sell!

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The White Oaks Blog is created by:

Chuck Gillooley


Chuck Gillooley
Realtor, Principal
Dwell Realtors, Inc.

(650) 207-2024
BRE# 01750684
Email: Chuck Gillooley
Website: http://cghomes.net
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Chuck Gillooley - Agent with Dwell Realtors, Inc.


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