Belmont, CA Real Estate News

By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
We’ve got a lot to cover at the beginning of a new year as we go back and examine all of 2008 as well as the month of December. This is our month-end report of home sales in Belmont for the month of December 2008. Note that while the median price dropped significantly from November, so did the size home which sold in December. The difference in size of homes in the two months was 190 square feet. At the price per square foot of $514 that could account for $97,660 of the difference in median home price—meaning that home prices were actually higher in December if you factor in for the size of home which sold. Sales were up too. There were eight sales in November and eleven in December. That’s an anomaly as typically sales in November are greater than December. We’ll chalk that one up to t...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Those of you who have been following us for some time know at the beginning of each year we re-cap the previous year and take a stab at where the market might be headed in the upcoming year. We’re still compiling the numbers for 2008 and the analysis will take another few days to complete but preliminarily, it appears Belmont fared better than most of the Bay Area and even her neighboring cities. Check back next week for a full run down and re-cap of 2008. Before I wrote this post, I went back and re-read our assessment of where the market might be headed in 2008. Of course very few people could have predicted that the dire real estate woes would drag the entire economy to the brink of collapse and we were no better at guessing that than most. However, for your enjoyment we’ve clipped a...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Many of you saw this home on our web page and at the open house. Several homes in the Hallmark area of Belmont have languished on the market for months without selling and everyone has been asking us how we sold our listing so fast. Well, here's the answer in video form. Obviously we had to price the home attractively but we also had to add value. Preparing a home for sale takes a lot more than staging. Thanks to a cooperative seller, we transformed this home in only a few weeks and the transition was phenomenal--then we listed and sold the home in a week. Take a quick peek at this short video where we show you before and after results--then call us to transform your home for sale. Download Revitalized Belmont Home
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
As part of our Real Estate REVEALED series we answer another Frequently Unasked Question in our latest Podcast—how do you know when a home is priced right? In addition to this latest Podcast, we’ve added a web page that makes finding the entire series of archive issues in one place.   Podcasts Drew & Christine Morgan "Helping People Make Good Decisions"sm (650) 508-1441 Click the mic for the web version of this page. Thanks for visiting our Podcasts. Each week we offer a housing market update podcast on our blog at BeautifulMountainBlog.org as well as our series titled "Frequently Unasked Questions" where we tackle questions buyers and sellers should be asking but frequently aren't, and "Real Estate Revealed" where we discuss industry insider information. Enjoy and don't forget you can ...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
I found the picture that accompanied the article in the San Francisco Chronicle, Saturday November 15th 2008 title "Increase in Deaths, injuries on dangerous San Francisco Streets"  a bit symptomatic of the problem. The article is reciting statistics on just how dangerous the streets are for pedestrian and bicyclists and yet the picture shows a pedestrian walking right out in front of a car without looking having eye contact the driver poised to potentially run him over. (click on the picture for a full-sized view) Don't get me wrong, in most accidents drivers are in fact at fault and hitting pedestrian accounts for more than half of the fatalities each year in San Francisco. That doesn't mean we should subjugate personal responsibility or common sense for laws. Traffic lights are ther...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Twin Pines Holiday Craft Faire - Nov 22 & 23 10 am - 4 pm - Twin Pines Park    Belmont's City Parks and Recreation department would like to remind you about some fun, free and low cost events coming up. The Holiday Craft Faire in Twin Pines Park, Belmont, is on Sat. and Sun., November 22nd and 23rd - FREE for visitors! Many vendors with all handmade items, all price and interest ranges.    When: Saturday & Sunday,  November 22nd & 23rd, 2008 Time:  10:00 am to 4:00 pm Location:  20 twin pines lane, Belmont, ca  94002 Info:  the faire will be held in 3 buildings at the beautiful twin pines park - twin pines senior & community center, lodge building and cottage.       
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
The housing market is in a state of flux so we spent added time this month helping you understand the numbers and our local Belmont market: (Click on the report for a size you can read)   Understanding the Belmont’s October 2008 housing market takes a lot more than listening to the numbers being bantered about without insight or analysis. Read on, as we’ll tell you what these indicators mean and how to put them into perspective. First the overall picture: We rate each indicator with an arrow depending on its effect relative to increasing home values from a homeowner's perspective. From a buyer's perspective these indicators would all be reversed. In other words, if inventory levels are growing we would rate that with a down arrow since it would put pressure on lower prices—bad for selle...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
  This is an abbreviated version of our recap for the last week's activity in Belmont because it's been a busy week and I'm beat. That and not much transpired in Belmont real estate. 30 year mortgage rates on jumbo loans underwent a huge increase as money previously available to Fanny and Freddie Mac became more expensive. And if you're shopping for a home right now don't forget, lender are not taking applications for loans qualifying for the $729,750 conforming rate cap after December 1, 2008 of THIS year. Better lock down a home if you want favorable rates before then. Here's an article we did that discussed the housing reform bill's elements that apply to our market which explains the cost of getting non-conforming loan instead. How's this for a slow time of year-there were NO new li...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Halloween might mean a night of relentless doorbell rings and handing out candy, or if you are lucky enough to still have trick-or-treaters of your own to take around, a night of scaring your nieghbors with your little goblins, but this Holly day is steeped in tradition. All Hallows' Eve gets its contraction "Halloween" from the "eve" or "even", both abbreviations of evening. It's the eve before All Hallows' Day, perhaps better known as All Saints Day. Rooted in Celtic origin, All Hallows' Eve was the one day a year that the dead could come back and mingle with the living. Jack-o-lanterns and bonfires were lit to safeguard the living from the spirits. For an interesting history of how the Catholics commandeered this day to prevent the Pagan holiday celebration, here's a great link. Be ...
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By Carlmont Associates
(Carlmont Associates)
In our last newsletter issue we mentioned how some of Belmont’s streets got their names and we were coxed to include some more in this edition. We also included a teaser about Belmont’s first and only golf course so we’ll dispense with that first. Unfortunately for golf fans, the course is not some well kept secret—in fact it has been gone for years. Around 1925 the team of Lyon, Monroe and Miller had a grand scheme to create an 18 hole golf course adjacent a tony club house complete with swimming “tank”, tennis and handball courts and a children’s wading pool that would be the envy of the Peninsula. The clubhouse would be called “Belle Monti” and cost $65,000 to complete. An innovative tactic was employed to attract would-be buyers and included free bus rides from San Francisco where ...
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By Carlmont Associates
(Carlmont Associates)
    This is a great opportunity to get out and support the Save the Music foundation while enjoying a great day with your neighbors and friends. The whole town becomes one giant street faire with food vendors, music and dancing—all outdoors at the Twin Pines Park. “Twin Pines Park is the perfect backdrop to grab some delicious food, sip sangria or an Oktoberfest brew, and listen to classical, jazz, rock, and salsa performances. Feeling the need to move your hips? Grab a partner and hit the Club Mistral dance floor, or just groove out in the meadow. 3 Stages brimming with music and fun!Parents will love the variety the event offers for the whole family. The Children's Area offers all the games young children love, as well as jump houses, train rides, and the wonderful children's performe...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Belmont’s inventory of homes for sale ended exactly where it started off for the third week in row at 47 homes for sale. There were four news listings, six homes went pending and four closed escrow while two homes dropped off the inventory rolls as sellers gave up on trying to sell their homes. NEW LISTINGS 2305 Cipriani 3 Bed 2 Baths 1,840 Sq Ft home for $ 1,050,000. If you’re looking for a move-in condition home here’s one for the top of your list. Ok Cipriani is a busy street but the home sits back far enough to afford privacy and offers a nice level, large rear yard that looks like a park. 1136 North Court 3 Bed 2 Bath 1,290 Sq Ft. Home for $765,432 Too new to review but it looks like a nice home. FYI it sold in 2005 for $719,000—more on this one next week. In case you didn’t notice...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
It was a busy week for Belmont real estate which was expected now that summer vacations are over and agents get back to work like everybody else. Out of the gate there were seven new listings, two re-lists, seven pending sales and three homes closed escrow bringing the inventory of single family homes for sale to 47-just like last week. NEW LISTINGS 1132 Tahoe 3 Bed 2 Bath 1,610 Sq Ft. listed for $899,000. This home was purchased in June of 2006 for $900,000 and it was a major dump back then. The new owner has done a lot to the home and although it's not quite finished, it's pretty nice-especially for $899,000. Put this one on your short list if you're out this weekend.   925 Waltermire 3 bed 1 bath 1,120 Sq Ft home for $749,000. If you don't mind living next door to Safeway this home c...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
In our last "Streets Around Us" blog we included a teaser about Belmont's first and only golf course. Unfortunately for fans of the sport, the course is not some well kept secret-in fact it has been gone for years. (Historic registery home in Belmont on what was once the golf course perimeter). Around 1925 the team of Lyon, Monroe and Miller had a grand scheme to create an 18 hole golf course adjacent a tony clubhouse complete with swimming "tank", tennis and handball courts and a children's wading pool that would be the envy of the Peninsula. The clubhouse would be called "Belle Monti" and cost $65,000 to complete. An innovative tactic was employed to attract would-be buyers which included free bus rides from San Francisco where prospective buyers were plied with beer and induced to bu...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Belmont's best weather is upon us in the month of September and this event should be a fun day for the whole family.   Belmont Picnic in The Park   Sunday, September 21st 2008 11AM - 3PM Twin Pines Park Meadow Celebrate National Neighborhood Day! Bring a blanket and a picnic lunch for this day of bringing families and neighbors together promoting a stronger community. Come for great fun with children's games & activities including • Tug Of War • Disaster Preparedness by Belmont/San Carlos Fire Dept. • Public Safety by the Belmont Police Dept. • Music and much more! Sponsored by: Belmont Youth Action Committee, VOICES (Volunteer Outreach Involvement in Community Events & Services) & the Belmont Parks & Recreation Department. For more info: 595-7441
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Tuesday's are tour days of agents. We get a chance to see all of the new listings in one fell swoop. Some of these homes have been open the previous Sunday and you may have already seen them. If you haven't, here's my update on the Belmont Homes that were in my Weekly Update last week but toured today, September 2nd 2008: 2422 Hastings 3 Bed/ 2.5 Bath 2,250 Sq Ft Attached Home LISTED for $1,038,000. These are attached homes in the Belmont Hills. You tend to get a lot of home for your money but not much land. This home needs some updating. On the plus side it's an end unit home so you only have neighbors on one side. Nice canyon views from the rear of the home. 1909 Lyon 3 Bed 2.5 Bath 1,600 Sq. Ft. home LISTED for $912,000. This is a nice home with a lower extra room. It's in move-in l...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Belmont's Best Deal of the Week-September 2nd 2008. This home just popped out at us as being one of the best deals we've seen in awhile. I'm a little skeptical about the reported square footage but it's still a good deal. Once in the home the upper level flows out to the rear yard and it's all level--a real plus in the hills. There's what is being called a permitted room and bath down in the garage making it a three bedroom if it's really permitted. Anytime a room opens into a garage it's not supposed to be a legal room (Uniform Building Code citing). It may have been permitted at one time, making it a legal non-conforming room. Oh and it had nice views too!   2014 LYON AV, Belmont 94002 (Belmont)$779,900 Beds: 2 bed(s) Baths: 2 bath(s)   DOM: 6  CDOM: 6   MLS: 80830339  Property Overv...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
What’s going on in Belmont over the Labor Day weekend? The Greek Festival! Be sure and stop by the Greek Festival held every year on the grounds of the Greek Orthodox Church at the corner of Ralston Ave. and Alameda de las Pulgas. Over 15,000 people are expected to attend over the three days of festivities. There is great food and fun for everyone with music, dancing arts & crafts. Admission is only $5.00 for adults and children under 12 are free. This year they’ll have a special “fun zone” for the kids too. If you are a foodie like us you’ll enjoy BBQ lamb, Dolmades, Spanakopita and of course desserts like Baklava layered with honey and nuts. Here’s their schedule of activities if you can’t decide when to go. This is one of Belmont’s best get-togethers for the community and if you see ...
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By Carlmont Associates
(Carlmont Associates)
Anyone trying to understand the wild fluctuations in Belmont's median home price need look no further than this chart.   We've tracked the median home price in Belmont over the last year-ever since the mortgage crises. What we were looking for was the impact it would have on home values. We sure were stunned to see a $200,000 median price increase last December, which lead us to go back and track the median size home selling too; this way, we could adjust for larger or smaller homes selling in a particular month. Now that we've plotted the data, it's easy to see that the dramatic swings in median value correspond directly to the large fluctuations in the size of the homes sold during a particular month. Belmont only has 20 or so sales a month-sometimes far less-so just a few larger than...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Housing reform and what it could mean for you. In our three part series on the housing reform bill we discuss three major changes that could impact your decision to buy, sell or refinance your home. Part 1 Listen to this short introduction in the player or subscribe to the full Podcast Download housing_reform.mp3 If you can imagine a ball of Silly Putty rolling down the aisles of the senate floor and how much unwanted stuff would stick to it, you can imagine what happened to the housing reform bill as it made its way through congress. Some of what was tacked onto the bill had nothing to do with the current lending issues at all. At over 700 pages long, it will take awhile to discern what the ramifications will be in the housing or financial markets, but suffice to say we’ve found some i...
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