San Francisco Peninsula Update on the Housing Market

February 11, 2013

40verbaleelane-hillsboroughOn the San Francisco Peninsula there are 14 active and 16 pending sales in Burlingame. Low inventory continues to be a problem everywhere. It is amazing how agents keep coming up with properties to sell to their waiting “pent up” buyers. Our Burlingame office just had 50 offers on a pair of fixer properties in San Mateo, which sold all cash substantially over asking price. There is little new inventory coming on in Hillsborough, however the high end is starting to show movement with four properties over $10 million and two over $5 million now in escrow. This is very encouraging to see high-end buyers actively in the market. Our Palo Alto manager says the inventory is even scarcer (if possible) than last year – while the demand is higher. Lack of inventory is the biggest concern for agents and clients in the Redwood City-San Carlos area. Agents are working in a wider area in order to find properties for their buyers. In San Mateo, our manager sees a slight increase in listings. Homes that are off-market coming back on the MLS in the Woodside and Portola Valley area. Sales have picked up over the past two weeks. Everyone has lots of buyers – not too many sellers yet.

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San Carlos One of Top Real Estate Home Prices

December 2, 2012

San Carlos Tenth Most Expensive Real Estate Market in Country…
 
This home on Beverly Dr. in San Carlos is listed at $1,585,000, Courtesy of Coldwell Banker.
 
Tech investor Yuri Milner's $100 million home made headlines when he bought it in March 2011. In July 2012, it was assessed at just half that figure    Credit Courtesy of Google Satellite
This home on Willow Road in Belmont is listed for $1,995,000Credit Courtesy of Re/Max
This home on Beverly Dr. in San Carlos is listed at </p>
<p>$1,585,000Credit Courtesy of Coldwell Banker
This home on Northam Ave. is listed at $1,795,000

How much does it cost to buy a four-bedroom, two-bath house?

This year, Los Altos/Los Altos Hills, at an average price of $1,706,688, is the most expensive market in the country when it comes to how much house your dollar will buy, according to Coldwell Banker’s annual Home Listing Report.

And San Carlos isn’t far behind, ranking 10th on the list, with an average listing price for a four-bedroom, two-bath home priced at $1,230,880 (wedged right between Carmel-by-the-Sea and Greenwich, CT). Belmont comes in at number 15, with an average home price of $1,098,777.

In fact, of the nation’s top five most expensive markets, four are on the lower Peninsula and Santa Clara County, and all are in California. Besides Los Altos, they include Saratoga ($1,582,434), Menlo Park ($1,506,909), and Palo Alto ($1,495,364). Newport Beach, in the No. 2 position ($1,658,000), was the only market outside of the Bay Area in the top five.

Coldwell Banker attributes Los Altos’ ranking to the confluence of tech and desirable locations. Google, Apple, Facebook and Stanford University are all located within 15 minutes of Los Altos, Coldwell Banker observed. And, so are the other top-five cities Saratoga, Menlo Park and Palo Alto.

And Los Altos Hills is the town that brought you the $100 million home, purchased by Russian tech investor Yuri Milner in 2011.

“The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area, in a written statement.

In fact, among the top 20 most expensive markets in the country, ten of them are on the Peninsula or in Santa Clara Valley. They include the additional cities (in order of price) of Los Gatos, San Carlos, Cupertino, San Francisco and Redwood City.

High demand, low inventory, desirability and population projections all figure into the prices, Turley said.

Conversely, the most affordable was in Redford, Michigan, where the average a four-bedroom, two bath house cost $60,490—or 28 times less than the same house in Los Altos.

Coldwell Banker lists both the top 20 most affordable and the most expensive in the chart below.

For a state-by-state ranking, see this Coldwell Banker link.

Rank Most Expensive State Avg Listing Price Most Affordable States Avg. Listing Price
1 Los Altos $1,706,688 Redford, Mich $60,490
2 Newport Beach, Calif. $1,658,000 College Park, GA $62,080
3 Saratoga $1,582,434 Detroit, Mich. $65,155
4 Menlo Park $1,506,909 Cleveland, Ohio $70,0665
5 Palo Alto $1,495,464 Poinciana, Fla. $76,341
6 Los Gatos $1,444,214 Hastings, Fla $78,840
7 Rye, N.Y. $1,312,250 Jonesboro, GA $79,686
8 Kailua, Hawaii $1,238,208 Park Forest, Ill. $81,107
9 Carmel-By-the-Sea $1,232,167 Augusta, GA $83,966
10 San Carlos $1,230,880 Johnstown, Penn. $84,173
11 Greenwich, Conn. $1,200,525 Cleveland Heights, Ohio $84,535
12 Cupertino $1,151,145 Saginaw, Mich. $85,345
13 San Francisco $1,132,086 Fort Pierce, Fla. $89,292
14 Weston, Mass $1,105,692 Country Club Hills, Ill. $90,788
15 Belmont $1,098,777 Irvington, N.J. $92,264
16 Boulder, Colo $1,084,183 Lehigh Acres, Fla $92,819
17 Orono, Minn. $1,070,203 Terrell, Texas $96,329
18 Mercer Island, Wash. $1,059,411 Warren, Mich. $96,349
19 Darien, Conn. $1,056,933 Ellenwood, Ga. $97,850
20 Redwood City $1,010,394 Maricopa, Ariz $97,886

 

 

Santa Comes to Hiller Aviation in San Carlos

December 1, 2012

  • Join us for Christmas Carols by the San Carlos Community Band
  • Cookies, sodas and candy canes
  • Santa will be available from 10am-12pm to listen to the kids Christmas list
  • No Charge for Santa’s arrival – sponsored by the San Carlos Chamber of Commerce
  • Museum doors open at 9:30AM

Goblin Walk in San Carlos

October 26, 2012

Friday, October 26, 2012

4:00 – 5:30 pm, 600 – 800 Blocks of Laurel Street

For children 7 years & under. Must be accompanied by parent/adult. Be dressed in your Halloween Gear.

Trick or treat at Laurel Street businesses displaying the ‘Goblin Walk Stop’ sign. Pick up your Goblin Walk Trick or Treat Bag at the Downtown Park or from any Goblin Walk Volunteer.

Support Downtown Businesses – Shop San Carlo, A Free Community & Downtown Event

San Carlos City Wide Garage Sale

September 23, 2012

The 2012 City Wide Garage Sale will be on Sept. 29, from 9am to 4pm. It is really neat, the city makes a map of all the garage sales and mentions items listed. A great way to support San Carlos and surrounding cities.

A list of registered sellers will be available online on Wed, Sept 26. Paper copies will also be available at the library.

Called to action in 2005 as part of the “Enhancing the City of Good Living Initiative” San Carlos Together (SCT) is dedicated to strengthening our San Carlos Community. SCT is a non-profit organization. We encourage community building through cultural, educational, recreational, and neighborhood improvement programs & activities. 100% of your tax deductible contribution goes back into the community through our operations and affiliated programs.

Our mission is to support local community enriching groups, volunteers & committees.

Follow us: 34x34_twitter 34x34_fb

 

 

Interesting Facts About San Carlos

September 13, 2012

San Carlos has some interesting facts: It does seem like we are heading up in the right direction again.

As of 2012, San Carlos (zip 94070)’s population is 30,161 people. Since 2000, it has had a population growth of 4.74 percent.

The median home cost in San Carlos (zip 94070) is $805,000. Home appreciation the last year has been -4.25 percent.

Compared to the rest of the country, San Carlos (zip 94070)’s cost of living is 129.30% Higher than the U.S. average.

San Carlos (zip 94070) public schools spend $7,673 per student. The average school expenditure in the U.S. is $5,691. There are about 17.6 students per teacher in San Carlos.

The unemployment rate in San Carlos (zip 94070) is 5.10 percent(U.S. avg. is 8.60%). Recent job growth is Positive. San Carlos (zip 94070) jobs have Increased by 2.37 percent.

San Carlos Adult Community Monthly Luncheon

August 14, 2012

The Center enjoyed Bruces fabulous cooking (Pot Roast, Carrots and Potatoes) It was so soft it melted in your mouth. Our entertainer did a great job with his digital accordian that could mimik any instrument. Everyone had a good time with some dancing as well.

 

4th Annual San Carlos Lions Club “Parade Your Pride” Car Show

August 4, 2012

Join San Carlons for the 4th Annual San Carlos Lions Club “Parade Your Pride” Car Show on September 9th at Sparky’s Hot Rod Garage. Located at 975 Industrial Road, Suite B.

FOR INFORMATION: WWW.SCLIONSPARADEYOURPRIDE.COM

 

Rockin’ Jump Opening in San Carlos

August 4, 2012

Want to experience the joy of jumping off the walls, somersaulting high up in the air, and leaping into a pool of foam cubes? San Carlos’s new Trampoline Park offers extreme fun and a great work out for jumpers of all ages, featuring trampoline dodgeball, basketball, special jump arenas, ROCKIN’ Birthdays, and even a gourmet Café. So come out for some big air and big laughs. Currently taking Birthday Reservations starting in August 18th, 2012. Ribbon cutting on August 9th at 5:30p.m..

Check out their website for more information and for taking reservations. www.sancarlos.rockinjump.com

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San Carlos Seniors Having Fun

July 27, 2012

Music from the Tenor Band was provided on Friday for our monthly luncheon with homemade food. The Tenor Band entertained us while we had coffee, dessert and wine. Great band! Our event is always the second Friday afternoon of the month. If you would like more information, just give me a call. See you there! Pictures compliments of Doug Anderson!

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