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Kathy and Michael Rain - The Rain Team

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Why Curb Appeal Matters to Everyone: 5 Quick Tips

by Kathy and Michael Rain - The Rain Team

First impressions can make or break any relationship, including the one neighbors, family, friends, and if you’re looking to sell, potential buyers have with your home. Capturing hearts from the curb can immediately create positive impressions about you and your house.  

 

Here’s a secret! You don’t have to spend weeks or months sprucing up your curb to make that important first impression. With a little creativity, you can get it done in a day or less. These small projects are fun, won’t cost a fortune, and will leave a lasting memory with the people you care about most. 

 

Check out the examples below. Email us with your ideas, or pictures of what you've done to increase your curb appeal. 

 

 

Create Winning Curb Appeal in a Day or Less!

Give Your Door a Fresh Coat

Don’t go through the painstaking process and financial investment of painting your entire house. All you need is a new coat of fresh paint on your door. Pick a color that stands out to make it memorable. 

Make Your Numbers Pop

Yes! Your house numbers can make a difference. Replace your old numbers with something creative. It’ll be a fun project that only takes a few minutes and will leave a lasting image in the minds of those you care about.

Plant a Mailbox Garden

Your mailbox can be so much more than a post and a metal box. Add a few flowers around the base to help add color. If you can, paint or install a new mailbox to cap off your garden. 

Freshen up your Entryway

Whether you have a porch or a step, potted plants bring a lot of colors, which will make your entryway more inviting. If you have space for furniture, add a few chairs and let your buyers imagine themselves enjoying a cool drink or relaxing evening on their new porch.

Flower Boxes

If your home is a little low on color, you can add pop and character to your windows. There are simple boxes that you can quickly build yourself or purchase at any home supply store. Imagine, you’ll have potential buyers saying, “We like the one with the flowers in the window.”

Top 10 Remodeling Projects With the Best ROI

by Kathy and Michael Rain - The Rain Team

 

Every smart homeowner knows that major—or even minor—remodeling projects should be undertaken with one eye on design and the other on the ROI. You want to be comfortable with whatever return on investment you receive for upgrading your home because, unfortunately, many upgrades won’t entirely recoup their cost upon sale. But the use you get out of the home with the upgrade might still make the construction worthwhile, regardless of the ultimate selling price.

Here’s the top 10 remodeling projects that provide the best return on investment nationally:

RANKING

PROJECT

COST     RECOUPED

AVERAGE JOB COST

RESALE VALUE

10

Add a family room

69.3 percent

$89,566

$62,055

9

Finish the basement (cost estimate includes bar area, main room and bathroom)

70 percent

$71,115

$49,768

8

Add a two-story addition (cost estimate includes adding a family room, bedroom and bathroom)

71.1 percent

$176,108

$125,222

7

Add a wood deck (cost estimate includes built-in bench and planter)

71.5 percent

$10,707

$7,652

6

Replace the siding

76.4 percent

$14,518

$11,093

5

Replace the garage door

76.9 percent

$1,749

$1,345

4

Complete a minor kitchen remodel (cost estimate includes new cabinet fronts and hardware, new energy-efficient appliances, laminate countertops, mid-priced sink and faucet, dingy floor replacement and wall paint)

80.2 percent

$20,830

$16,699

3

Install a manufactured stone veneer (instead of vinyl siding)

89.4 percent

$7,851

$7,019

2

Replace your entry door with a steel door

90.7 percent

$1,413

$1,282

1

Add fiberglass attic insulation

107.7 percent

$1,343

$1,446

* data from Remodeling Magazine's annual Cost vs. Value report
 

San Mateo County Real Estate Report

by Kathy and Michael Rain - The Rain Team

Below is the most recent San Mateo County Market Report summarizing recent real estate activity. Please keep in mind that the values represented are based on current, detailed information from the regional Multiple Listing Service. If you need clarification on any of the figures or if you wish to take additional steps toward property ownership, please let us know. We are happy to help you feel free to contact us at 650-888-6903.

Status MLS ID Address City Bed Bath(F/P)* List Price DOM
Active ML81651981 0 Vicinity Higgins WAY PACIFICA   -/- $7,500,000 16
Active ML81650273 496 6th ST MONTARA 4 2/2 $3,750,000 28
Active ML81653869 800 Harmony WAY PACIFICA   -/- $2,748,000 2
Active ML81638788 0 Bay View RD MONTARA   -/- $2,649,000 109
Active ML81649270 203 Granelli AVE HALF MOON BAY 4 3/1 $2,375,000 32
Active ML81647815 243 Del Monte RD EL GRANADA 4 4/1 $2,300,000 43
Active ML81645824 770 Alta Vista RD MONTARA 6 5/1 $2,299,000 27
Active ML81651962 639 Santiago AVE EL GRANADA 4 3/- $2,200,000 16
Active ML81649718 15 Ashdown PL HALF MOON BAY 4 3/1 $2,150,000 30
Active ML81652141 2191 Bayhill CT HALF MOON BAY 4 3/1 $2,100,000 15
Active ML81652256 109 Carnoustie DR HALF MOON BAY 4 3/- $2,098,000 15
Active ML81648961 1300 Alamo ST MONTARA 5 3/- $2,000,000 28
Active ML81644521 152 West Point AVE EL GRANADA 3 2/1 $1,985,000 64
Active ML81644101 152 West Point AVE EL GRANADA   -/- $1,985,000 67
Active ML81647613 1 Tranquility PACIFICA 5 3/- $1,888,888 44
Active ML81652983 2910 Court Of San Marco HALF MOON BAY 5 5/- $1,780,000 9
Active ML81650159 2291 Winged Foot RD HALF MOON BAY 4 3/- $1,700,000 28
Active ML81652476 261 Bayhill RD HALF MOON BAY 4 3/- $1,678,950 14
Active ML81640456 654 Isabella AVE EL GRANADA 4 2/1 $1,599,000 70
Active ML81652485 132 Mckinney AVE PACIFICA 3 3/0 $1,475,000 6
Active ML81650754 406 Sevilla AVE EL GRANADA 4 3/- $1,280,000 24
Active ML81653379 452 Manor PLZ PACIFICA   -/- $1,250,000 7
Active ML81647690 1375 Birch ST MONTARA 3 3/1 $1,150,000 43
Active ML81652200 436 3rd ST MONTARA 3 2/- $1,099,000 15
Active ML81634430 314 11th ST MONTARA 3 2/1 $999,999 154
Active ML81653245 1075 Birch ST MONTARA 4 2/- $948,000 8
Active ML81653923 1028 Zamora DR PACIFICA 3 2/- $925,000 2
Active ML81651656 323 Heathcliff DR PACIFICA 4 2/- $900,000 17
Active ML81651449 366 11th ST MONTARA 3 2/- $899,000 19
Active ML81652965 296 Reichling AVE PACIFICA 3 2/0 $879,000 9
Active ML81652521 450 Metzgar ST HALF MOON BAY 3 2/- $869,000 13
Active ML81653097 8 Brookhaven CT PACIFICA 4 2/- $829,000 8
Active ML81652266 243 Nelson AVE PACIFICA 3 1/0 $824,969 15
Active ML81651155 743 Lockhaven DR PACIFICA 4 2/- $818,000 21
Active ML81652531 528 Del Mar AVE PACIFICA 3 1/- $799,000 12
Active ML81653277 706 Grandview BLVD HALF MOON BAY 3 1/1 $779,000 7
Active ML81649414 100 Troon WAY HALF MOON BAY 3 2/- $773,888 32
Active ML81649055 365 Rockaway Beach AVE PACIFICA 2 2/- $728,000 35
Active ML81650356 935 Fassler AVE PACIFICA 2 2/1 $719,000 27
Active ML81645019 000 West Point AVE EL GRANADA   -/- $689,500 61
Active ML81653255 1234 Rosita RD PACIFICA 2 1/1 $689,000 7
Active ML81650970 105 Santa Rosa AVE PACIFICA 1 1/- $679,000 23
Active ML81653251 1099 Oddstad BLVD PACIFICA 2 2/- $649,000 7
Active ML81641407 825 Edison ST MONTARA   -/- $625,000 87
Active ML81653425 1312 Poplar AVE PACIFICA 2 2/- $595,000 7
Active ML81652861 4 Sand Dunes CT HALF MOON BAY 2 2/- $399,000 10
Active ML81651587 18 Seascape DR HALF MOON BAY 2 2/- $384,900 8
Active ML81653718 2782 Pullman AVE HALF MOON BAY   -/- $349,000 3
Active ML81652245 0 Cabrillo Hwy MOSS BEACH   -/- $299,000 15
Active ML81644776 000 Sunshine Valley Road MOSS BEACH   -/- $249,900 63
Active ML81652652 0 Dolphine AVE EL GRANADA   -/- $150,000 11
Active ML81646294 270 Capistrano #44 HALF MOON BAY   -/- $99,000 52
Active ML81651071 21 Cranham CT PACIFICA 3 2/- $3,600 22
Active ML81642991 731 El Granada BLVD #Lower Unit EL GRANADA 2 1/- $3,250 75
Active ML81652669 1221 Palmetto AVE PACIFICA 1 1/- $3,200 11
Average       3 2/1 $1,301,783 29
High       6 5/2 $7,500,000 154
Low       1 1/1 $3,200 2

 

 

5 Common And Costly Mistakes To Avoid When Selling Your Home

by Kathy and Michael Rain - The Rain Team

Tips And Trends For Homeowners, Buyers And Sellers

by Kathy and Michael Rain - The Rain Team


 

It pays to know! So, what's your home's value?

by Kathy and Michael Rain - The Rain Team

Price it for a Competitive Market

by Kathy and Michael Rain - The Rain Team

By Mike James

The real estate market in Northern California is seeing varying activity depending on the counties, cities, neighborhoods and homes. This issue of Market Watch is a strong indicator of this shifting dynamic. Competitively-priced homes in any range are expected to sell steadily and swiftly, and properties under $750K are not sitting on the market for long. The sub-$750K homes are also seeing tighter inventories than higher-priced homes.

With additional inventory expected to appear over the coming days and weeks of summer, buyers who have been waiting for new listings will be competing for homes that are priced right and primed to sell. Sellers testing the market with listing prices above the competitive range will see their homes sitting longer, and the perception among buyers will be unfavorable. It’s critical even in this market to list at the right price for the county, city, neighborhood and home. Now more than ever, sellers and their agents need to be mindful in determining a listing price.

Hot markets like San Francisco will continue to experience more buyers competing for less properties, which will drive up closing prices significantly in desirable communities. Here’s what was happening in our local Northern California offices since the last issue of Market Watch:

 

East Bay – In the Berkeley area there has been a steady increase of both listing inventory and sales activity. Some of the largest markets in the region include Oakland with 248 available properties and 279 under contract; Richmond/El Sobrante with 81 active houses and 94 under contract. Pleasanton has also seen steady listing inventory increasing by 22 properties.

El Dorado County – El Dorado Hills has solid inventory at the high-end market. Although properties are selling, some are overpriced due to the message of an inventory shortage. There have been multiple offers on properties under $500,000 and cash proves king in this range.

Monterey County – Monterey launched Coldwell Banker Global Luxury since the last update and it has been well received. The high-end market had recent price adjustments of $1-3 million. The mid-range market has slower activity at open houses, limited listings and tight supply. However, the market is expected to pick up as we enter summer and more listings appear.

North Bay –  North Bay has seen a market favoring sellers, driven by demand and an increase in sales activity. Areas such as Marin saw homes going 15-22 percent over asking price. With approximately 365 available properties, only 65 are listed under $1 million. Although Santa Rosa Bicentennial had an increase in sales activity, it also experienced a slowdown in offers.  The development indicates that the trend is home-specific in this area as opposed to a market indicator.

Placer County – Tahoe offices saw a decrease of approximately 18 percent in sales for luxury properties over $1 million from 2016. This is also reflected in the year over year sales; 2017 had 75 sales while 2016 sold 92 properties for the same period. The median sales price for luxury properties in 2017 is $1.4 million, a five percent decrease from 2016.  The average sale price of luxury homes in 2017 stands at $2.1 million compared to $2.3 million in 2016, an eight percent decrease. As more homes are expected to be listed, savvy buyers and investors will be searching over the coming weeks as mortgage interest rates remain favorable.

Sacramento County – Folsom has experienced increased listing inventory and an increase in sales activity with 35 ratified offers. Fair Oaks saw decreases in listing inventory and sales due to a surplus of sellers and a lack of buyers. In the $450,000 price range, there were multiple offers on properties indicating a continued sellers’ market. Elk Grove has seen a 12 percent increase in listings with a 25 percent increase in pending sales. Homes under $350,000 have been in especially high demand with less than .2 months of inventory.

San Francisco – San Francisco has had mixed results since the last update. SF Lakeside saw a slight slowdown in overall activity including open houses. SF Lombard had slowdowns in the $2.5-$3 million range and high-end markets. However, single family homes have remained hot with multiple offers and sales over asking price. SF Pacific Heights had tight inventory with decreased listings, but still had an increase in sales activity.

SF Peninsula Burlingame, Half Moon Bay and Menlo Park each saw steady listing inventory and steady sales activity, but with different results. Burlingame’s tight supply prompted multiple offers on properties and many sold above asking price. Half Moon Bay also had tight inventory and carefully managed pricing. Overpriced properties linger on the market and typically bring in lower offers, so appropriate pricing is key. Palo Alto had increased listings and sales, but comparisons show inventory and sales are down from 2016. Redwood City had a slight decrease in inventory and sales activity, but remains competitive. One local buyer finally purchased a home after losing out on 14 previous properties, so demand remains high for competitively priced homes. San Mateo saw an increase in listings and sales, a good sign for a hot summer sales season.

Santa Cruz County– In Santa Cruz, the price of high-end homes is currently $3-$4 million. Single family residences were in low supply with 320 active properties and demand remained steady. Overall, the county saw the number of properties that have gone into contract continue to be nearly as high as the number of new listings to the market.

Silicon Valley – Cupertino reported multiple pre-emptive offers with a hot market and high activity. Listing inventory and sales activity increased and the area ended the period with 30 ratified offers.

The Rain Team offers unparalleled service to ALL clients in San Mateo County, including areas such as Half Moon Bay,El Granada, Moss Beach, Montara, and Pacifica. Give us a call at (650) 888-6903 or contact us here to see how we can help you with all your real estate needs.

See the original article here.

 

Your Guide To Coastside Walking Trails

by Kathy and Michael Rain - The Rain Team

                                       

One of the great benefits of coastside living is enjoying the wonderful outdoors around us. We are avide hikers and enjoy many trails that surround us. There are a wide variety of trails in our area that are perfect to get out and enjoy. Here is your guide to the top coastside trails.

Devil’s Slide Coastal Trail –Located between Pacifica and Half Moon Bay,

Mori Point Trail- Located in Pacifica

Sweeney Ridge Trail- Located in Pacifica

Milagra Ridge-Located off Sharp Park Road in Pacifica

Half Moon Bay State Beach Waling Trails-  Coastal trails near Half Moon Bay

Rancho Corral de Tierra Trail- Located on the San Mateo peninsula/El Granada

600 Hikes In Bay Area- Great list of over 600 hikes in the Bay area        

Pacifica Trails- A great resource for trails, beaches and recreation in Pacifica

San Mateo County Real Estate Report

by Kathy and Michael Rain - The Rain Team

Below is the most recent San Mateo County Market Report summarizing recent real estate activity. Please keep in mind that the values represented are based on current, detailed information from the regional Multiple Listing Service. If you need clarification on any of the figures or if you wish to take additional steps toward property ownership, please let us know. We are happy to help you feel free to contact us at 650-888-6903.

 

Status MLS ID Address City Bed Bath(F/P)* List Price DOM
Active ML81651981 0 Vicinity Higgins WAY PACIFICA   -/- $7,500,000 16
Active ML81650273 496 6th ST MONTARA 4 2/2 $3,750,000 28
Active ML81653869 800 Harmony WAY PACIFICA   -/- $2,748,000 2
Active ML81638788 0 Bay View RD MONTARA   -/- $2,649,000 109
Active ML81649270 203 Granelli AVE HALF MOON BAY 4 3/1 $2,375,000 32
Active ML81647815 243 Del Monte RD EL GRANADA 4 4/1 $2,300,000 43
Active ML81645824 770 Alta Vista RD MONTARA 6 5/1 $2,299,000 27
Active ML81651962 639 Santiago AVE EL GRANADA 4 3/- $2,200,000 16
Active ML81649718 15 Ashdown PL HALF MOON BAY 4 3/1 $2,150,000 30
Active ML81652141 2191 Bayhill CT HALF MOON BAY 4 3/1 $2,100,000 15
Active ML81652256 109 Carnoustie DR HALF MOON BAY 4 3/- $2,098,000 15
Active ML81648961 1300 Alamo ST MONTARA 5 3/- $2,000,000 28
Active ML81644521 152 West Point AVE EL GRANADA 3 2/1 $1,985,000 64
Active ML81644101 152 West Point AVE EL GRANADA   -/- $1,985,000 67
Active ML81647613 1 Tranquility PACIFICA 5 3/- $1,888,888 44
Active ML81652983 2910 Court Of San Marco HALF MOON BAY 5 5/- $1,780,000 9
Active ML81650159 2291 Winged Foot RD HALF MOON BAY 4 3/- $1,700,000 28
Active ML81652476 261 Bayhill RD HALF MOON BAY 4 3/- $1,678,950 14
Active ML81640456 654 Isabella AVE EL GRANADA 4 2/1 $1,599,000 70
Active ML81652485 132 Mckinney AVE PACIFICA 3 3/0 $1,475,000 6
Active ML81650754 406 Sevilla AVE EL GRANADA 4 3/- $1,280,000 24
Active ML81653379 452 Manor PLZ PACIFICA   -/- $1,250,000 7
Active ML81647690 1375 Birch ST MONTARA 3 3/1 $1,150,000 43
Active ML81652200 436 3rd ST MONTARA 3 2/- $1,099,000 15
Active ML81634430 314 11th ST MONTARA 3 2/1 $999,999 154
Active ML81653245 1075 Birch ST MONTARA 4 2/- $948,000 8
Active ML81653923 1028 Zamora DR PACIFICA 3 2/- $925,000 2
Active ML81651656 323 Heathcliff DR PACIFICA 4 2/- $900,000 17
Active ML81651449 366 11th ST MONTARA 3 2/- $899,000 19
Active ML81652965 296 Reichling AVE PACIFICA 3 2/0 $879,000 9
Active ML81652521 450 Metzgar ST HALF MOON BAY 3 2/- $869,000 13
Active ML81653097 8 Brookhaven CT PACIFICA 4 2/- $829,000 8
Active ML81652266 243 Nelson AVE PACIFICA 3 1/0 $824,969 15
Active ML81651155 743 Lockhaven DR PACIFICA 4 2/- $818,000 21
Active ML81652531 528 Del Mar AVE PACIFICA 3 1/- $799,000 12
Active ML81653277 706 Grandview BLVD HALF MOON BAY 3 1/1 $779,000 7
Active ML81649414 100 Troon WAY HALF MOON BAY 3 2/- $773,888 32
Active ML81649055 365 Rockaway Beach AVE PACIFICA 2 2/- $728,000 35
Active ML81650356 935 Fassler AVE PACIFICA 2 2/1 $719,000 27
Active ML81645019 000 West Point AVE EL GRANADA   -/- $689,500 61
Active ML81653255 1234 Rosita RD PACIFICA 2 1/1 $689,000 7
Active ML81650970 105 Santa Rosa AVE PACIFICA 1 1/- $679,000 23
Active ML81653251 1099 Oddstad BLVD PACIFICA 2 2/- $649,000 7
Active ML81641407 825 Edison ST MONTARA   -/- $625,000 87
Active ML81653425 1312 Poplar AVE PACIFICA 2 2/- $595,000 7
Active ML81652861 4 Sand Dunes CT HALF MOON BAY 2 2/- $399,000 10
Active ML81651587 18 Seascape DR HALF MOON BAY 2 2/- $384,900 8
Active ML81653718 2782 Pullman AVE HALF MOON BAY   -/- $349,000 3
Active ML81652245 0 Cabrillo Hwy MOSS BEACH   -/- $299,000 15
Active ML81644776 000 Sunshine Valley Road MOSS BEACH   -/- $249,900 63
Active ML81652652 0 Dolphine AVE EL GRANADA   -/- $150,000 11
Active ML81646294 270 Capistrano #44 HALF MOON BAY   -/- $99,000 52
Active ML81651071 21 Cranham CT PACIFICA 3 2/- $3,600 22
Active ML81642991 731 El Granada BLVD #Lower Unit EL GRANADA 2 1/- $3,250 75
Active ML81652669 1221 Palmetto AVE PACIFICA 1 1/- $3,200 11
Average       3 2/1 $1,301,783 29
High       6 5/2 $7,500,000 154
Low       1 1/1 $3,200 2

 

Status MLS ID Address City Bed Bath(F/P)* List Price DOM
Pending (Do Not Show) ML81642002 97 Beach ST MOSS BEACH 3 2/- $2,895,000 71
Pending (Do Not Show) ML81645734 241 Cortez AVE HALF MOON BAY 5 3/0 $1,699,000 47
Pending (Do Not Show) ML81639769 1469 Perez DR PACIFICA 5 3/- $1,499,000 59
Pending (Do Not Show) ML81650434 236 Shoreview AVE PACIFICA 2 2/- $1,350,000 18
Pending (Do Not Show) ML81642069 522 Ferdinand AVE EL GRANADA 3 2/1 $1,248,000 60
Pending (Do Not Show) ML81651472 2790 Pullman AVE HALF MOON BAY 4 2/1 $1,198,950 9
Pending (Do Not Show) ML81652357 1056 Everglades DR PACIFICA 4 3/- $1,188,000 11
Pending (Do Not Show) ML81641140 1475 East AVE MONTARA 4 2/1 $1,150,000 59
Pending (Do Not Show) ML81643971 423 Roberts RD PACIFICA 3 2/1 $1,100,000 44
Pending (Do Not Show) ML81651085 480 Cypress AVE MOSS BEACH 3 2/- $1,100,000 13
Pending (Do Not Show) ML81644746 1068 Crespi DR PACIFICA 3 3/- $1,058,000 43
Pending (Do Not Show) ML81650443 724 Cape Breton DR PACIFICA 3 2/0 $899,000 8
Pending (Do Not Show) ML81652632 1195 Alicante DR PACIFICA 3 3/- $899,000 10
Pending (Do Not Show) ML81649673 250 Edgewood DR PACIFICA 4 3/- $898,888 15
Pending (Do Not Show) ML81649946 544 Heathcliff DR PACIFICA 4 2/- $898,000 9
Pending (Do Not Show) ML81646945 852 Arguello BLVD PACIFICA 4 2/- $889,000 33
Pending (Do Not Show) ML81652650 1168 Fernandez WAY PACIFICA 4 2/- $888,000 10
Pending (Do Not Show) ML81652566 415 Sonora AVE EL GRANADA 3 2/- $865,000 11
Pending (Do Not Show) ML81651301 1252 Crespi DR PACIFICA 3 2/- $849,000 12
Pending (Do Not Show) ML81651527 1064 Glacier AVE PACIFICA 4 2/- $839,000 10
Pending (Do Not Show) ML81648105 935 Irving ST MONTARA 2 1/1 $835,000 10
Pending (Do Not Show) ML81652715 741 Franklin ST MONTARA 3 2/1 $800,000 8
Pending (Do Not Show) ML81651336 532 Fremont AVE PACIFICA 3 1/- $799,888 5
Pending (Do Not Show) ML81649413 260 Poplar ST HALF MOON BAY 4 1/- $799,000 17
Pending (Do Not Show) ML81649083 1420 De Solo DR PACIFICA 3 1/- $799,000 6
Pending (Do Not Show) ML81653067 574 Heathcliff DR PACIFICA 3 1/- $789,000 7
Pending (Do Not Show) ML81650075 667 Lockhaven DR PACIFICA 4 2/- $778,000 12
Pending (Do Not Show) ML81649713 888 Rockaway Beach AVE PACIFICA 2 1/- $719,000 17
Pending (Do Not Show) ML81651279 1232 Terra Nova BLVD PACIFICA 2 1/1 $609,000 14
Pending (Do Not Show) ML81650914 1391 Terra Nova BLVD PACIFICA 2 2/- $599,000 10
Pending (Do Not Show) ML81651509 1311 Terra Nova BLVD PACIFICA 2 1/1 $589,000 10
Pending (Do Not Show) ML81652211 1394 Terra Nova BLVD PACIFICA 2 1/1 $588,000 7
Pending (Do Not Show) ML81650800 2355 Beach BLVD #101 PACIFICA 1 1/- $549,000 15
Pending (Do Not Show) ML81648879 997 S Colonel WAY HALF MOON BAY 2 1/- $500,000 8
Average       3 2/1 $975,404 21
High       5 3/1 $2,895,000 71
Low       1 1/1 $500,000 5

 

Status MLS ID Address City Bed Bath(F/P)* List Price Sale Price DOM
Sold ML81639307 630 Miramar DR HALF MOON BAY 5 4/- $2,399,000 $2,300,000 86
Sold ML81653213 311 Magellan AVE HALF MOON BAY 4 3/- $1,900,000 $1,900,000 1
Sold ML81648233 270 Beaumont BLVD PACIFICA 4 3/1 $1,395,000 $1,485,000 11
Sold ML81653314 948 Reina Del Mar AVE PACIFICA 3 2/- $850,000 $850,000 1
Sold ML81648821 1159 Rosita RD PACIFICA 4 2/- $799,000 $905,000 4
Sold ML81649201 45 Patrick WAY HALF MOON BAY 2 2/1 $799,000 $860,000 10
Sold ML81649674 43 Eastridge CIR PACIFICA 3 2/- $798,888 $900,000 1
Sold ML81651233 2355 Beach BLVD #303 PACIFICA 2 2/- $649,000 $675,000 1
Sold ML81653500 0 Magellan AVE HALF MOON BAY   -/- $275,000 $275,000 1
Sold ML81651079 0 Ocean AVE HALF MOON BAY   -/- $10,000 $10,000 9
Sold ML81649832 254 San Clemente RD EL GRANADA 3 2/1 $4,500 $4,500 27
Average       3 2/1 $898,126 $924,045 14
High       5 4/1 $2,399,000 $2,300,000 86
Low       2 2/1 $4,500 $4,500 1
* Baths: F = Full, P = Partial

Northern California Starts Spring Homebuying Season Strong

by Kathy and Michael Rain - The Rain Team

By Mike James

Northern California had a strong start to the Spring home buying season notwithstanding low inventory. The housing market continues to experience an abundance of buyers, and in most cases, multiple offers on reasonably priced listings. New listings continue to come on the market, but not at a rate that meets buyer demand.

According to the National Association of REALTORS® (NAR), existing-home sales reached their highest pace in 10 years during March largely due to low inventory.

“The early returns so far this spring buying season look very promising as a rising number of households dipped their toes into the market and were successfully able to close on a home,” said Lawrence Yun, NAR chief economist. “Sales will go up as long as inventory does.”

Northern California continues to sustain a sellers’ market due to its low inventory. Most reasonably priced listings receive multiple offers because buyers continue to outnumber the listings. However, there are not as many buyers for luxury properties in most regions.

Northern California has continued to maintain its strong Spring start into May. Here’s what was happening in our local Northern California offices earlier this month:

 

East Bay – The year-over-year first quarter statistics for the East Bay area: Alameda saw its overall median sales price increase 4 percent from $818,500 to $849,500 reflected in a 6 percent leap in short sales and foreclosures from $935,000 to $990,000 and a 10 percent jump in condos and townhomes from $655,500 to $722,250. Oakland’s overall median increased from $550,000 to $625,000, representing a 14 percent increase. Short sales and foreclosures moved from $550,000 to $650,000, representing an 18 percent increase, and condos and townhomes moved from $556,144 to $561,254, representing a 1 percent increase. Berkeley now has an overall median price of $1,055,000, representing a 21 percent leap. Short sales and foreclosures grew from $901,000 to $1,100,000, showing a 22 percent increase. Condos and townhomes went from $565,900 to $762,500, increasing 35 percent. Albany grew from $733,000 to $870,000, showing a 19 percent increase, with single-family houses jumping from $848,888 to $975,750, which is a 15 percent increase, and condos and townhomes moving from $418,000 to $525,000, which is a 26 percent increase. El Cerrito also saw significant gains with the overall median moving from $740,000 to $885,000, representing a 20 percent increase, and short sales and foreclosures moving from $775,000 to $915,000. Buyers continue to outnumber the listings as inventory remains less than a one-month supply.

Monterey County – The top five companies in Monterey County for the month of May saw a 25 percent decrease in units and sales. The average price is hovering around the $1 million mark. The last seven days, 14 properties went into contract in all price points, but the under $1 million price point still continues to be the most competitive. The inventory has tightened and prices seem to have peaked. As a result, buyers appear to be waiting for price adjustments or making low offers to get the negotiations started.

North Bay – For Greenbrae, inventory continues to be outpaced by demand, and multiple offers continue to be prevalent. Buyers are negotiating more once they get into contract, which has led to more escrows falling out than normal. In Novato, the luxury market over $1 million has improved. Currently 50 percent of the inventory is in contract with the majority in the $1 million to $1.5 million range. A new listing in Novato this week priced at $1.2 million sold less than seven years ago for $600,000 with little remodeling done. Prices will continue to trend upwards as inventory remains low. During April, the number of units sold in Novato was slightly higher than last April and prices were up 5 percent to a median price of $915,000. The average days on market went down 10 percent to 26 from 29 last year. There has been an increase in listing inventory, but it only equates to two months of available inventory. Currently Novato has 55 active properties and 80 properties in contract. In Santa Rosa, many properties are receiving multiple offers and many buyers continue to write offers even though their previous offers have not been successful. Total sales for April were 15 percent below sales from April of last year and more than 4 percent below sales from March of this year. April over April median price in Sonoma County is up just under 10 percent. In Sebastopol, listing agents are seeing offer dates come and go on properties in all price ranges, but buyers’ agents are still competing for properties. Interest rates still remain low, and more buyers are heading north from the Bay Area.

Placer County – In Tahoe, the luxury sales for properties priced above $1 million are down 20 percent from 2016. For 2017, there have been 65 luxury properties sold as compared to 82 sold last year for the same period. The median sales price for luxury properties in 2017 thus far is $1,425,000, which is down 3.5 percent from the median sales price of $1,476,405 in 2016. The average sale price of luxury homes in year to date stands at $2,148,121 as compared to $2,371,101 in 2016 and is down almost 10 percent.

There continues to be considerable interest in the market as many buyers and investors are actively looking for homes. With the continued favorable mortgage interest rates and inventory coming, buyers will be able to acquire homes in many of the Lake Tahoe and Truckee resort communities.

Sacramento County – In Fair Oaks, the market is bifurcated. There is more luxury inventory than buyers, but the under $400,000 market is still a sellers’ market with listings receiving multiple offers. In Sierra Oaks, the luxury market is strong with an increase in activity. Overall, there are more listings and buyers moving forward. In El Dorado Hills, there is luxury market inventory for up to a year, but the luxury market has slowed. Four luxury homes were listed and only two luxury homes went into escrow. None of the homes that closed during this period were in the luxury market. There is little inventory of homes under $600,000. Open houses have anywhere from six to 35 groups each week, which produce many leads. There are still numerous buyers from the Bay Area, especially East Bay, but there has also been an increase in buyers from the Elk Grove to El Dorado Hills area. There was a large open house held at Serrano last week with a great turn out with people from the Bay Area. These large open houses happen every second Sunday of the month—weather permitting. Land seems to be selling at a greater pace than seen in recent years. Builders are looking at buying several lots. New subdivision lots are selling as well as previously sold lots. There is some seller financing on some of these lots that is very attractive to many buyers. There is still little affordable workforce housing available in many areas. Programs are being proposed that would streamline some of the processes and fees to aid in the construction of new homes as well as second homes on properties that already have one home. In Elk Grove and West Sacramento, there has been an increase in the number of listings in the past two weeks. However, inventory remains below one month and is down 25 percent from last year at this time. Average sales prices in Elk Grove for the month of April were over $400,000, which is up 11 percent from April 2016. The average days on the market has continued to decline and is 45 percent less than the 2016 average days on the market. There is a huge demand for homes in Elk Grove in the under $350,000 range and a lack of homes available in that price point. In several cases offers on properties have come in well above asking. For example, a listing at $450,000 received offers as high as $45,000 over asking price while a property listed at $390,000 received offers as high as $30,000 over asking price. In many cases, buyers in the under $400,000 price point marker must submit several offers before one gets accepted. Open houses have continued to see huge turnouts with several this past weekend including up to 25 or more attendees. There have been many buyers from outside of the local market, with the majority from the Bay Area.

SF Peninsula – In Burlingame, the demand for all properties is once again high due to low inventory. Inventory is growing, but it is still historically low. Almost all of the properties that sell are receiving multiple offers and are selling for much more than the list price. In Half Moon Bay, there are 45 listings currently for sale. Most experience an average 60 days with a low of four days and high of 365 days. There are currently 17 pending listings. Most experienced an average of 42 days on the market with a low of one day and high of 269 days. There were a total of 32 recently sold listings. They spent an average 31 days on the market with a low of one day and high of 220 days. Half Moon Bay has a little over a two-month supply of inventory. Menlo Park continues to have low inventory. Listings in the lower price ranges of $2 million and below, and listings above $2 million sell very fast. For Palo Alto, inventory in year-to-date is substantially lower in the area as well as in the North and South. In Redwood City, there continues to be low inventory but each mid-peninsula city and town is gradually gaining a little more inventory. Buyers are becoming a little more cautious with their offers, which means there are not as many multiple offers, but most property listings still receive two to five offers. In San Mateo, inventory is picking up. Woodside and Portola Valley still have very low inventory and most homes receive preemptive offers.

Santa Cruz County– The number of homes listed for more than $1 million is approximately the same as 2016. The number of sales for properties over $1 million dollars is slightly lower than those of April 2016. There have been several additional sales this April compared to last year, which appears to be a trend that will sustain through the summer. The real estate market in Santa Cruz County is still showing attributes of a sellers’ market. There are multiple offers on well-priced properties, primarily for properties listed under $1 million dollars. There are approximately nine single-family homes hitting the market per day. However, the total inventory of single-family homes in Santa Cruz County is 317, which is quite low. Inventory is approximately 20 percent below 2016.

Silicon Valley – In Cupertino the luxury market remains steady. Last week saw the most sales pending in Santa Clara County for year-to-date. Inventory has increased but there is still high demand for more inventory to satisfy buyer needs. New home developments are springing up all through Morgan Hill and Gilroy. Many developers are offering upgrade incentives and mortgage assistance to attract more potential buyers to their new homes. As a result, house tours now include new home developments as well as lived in properties. In Los Altos, the luxury market — homes priced over $4.5 million — is steady, but multiple offers continue to be the exception. Overall, inventory levels are still very low compared to buyer demand. Currently, there is less than one month’s worth of inventory in Los Altos. Most homes are receiving multiple offers, which typically leads to a sales price that is over asking. The market in Mountain View is even hotter with barely two weeks’ worth of inventory. The number of homes coming on the market for sale each week is slowly on the rise in both the Los Altos and Mountain View areas. However, these homes are being absorbed quickly and are selling very fast. Most homes coming on market are priced to induce offers and are selling in less than 10 days. The markets of Los Altos and Mountain View are still very strong and extremely robust.

The Rain Team offers unparalleled service to ALL clients in San Mateo County, including areas such as Half Moon Bay,El Granada, Moss Beach, Montara, and Pacifica. Give us a call at (650) 888-6903 or contact us here to see how we can help you with all your real estate needs.

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The Rain Team
CA# 01169588 | CA# 01125976 | CA# 01908304
248 Main Street, Suite 200
Half Moon Bay CA 94019
Michael: 650-888-6361
Kathy: 650-888-6903
Fax: 866-396-0207

Kathy and Michael Rain of Coldwell Banker provides real estate services in the San Mateo County, California area including the surrounding communities: El Granda, Half Moon Bay, Montara, Moss Beach, Pacifica and San Mateo. Search for homes in San Mateo County. We list and sell residential real estate, investment properties, vacant land, lots for sale in the San Mateo County, California area.

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Kathy Rain - CA BRE# 01169588 | Michael Rain - CA BRE# 01125976 | Coldwell Banker - CA BRE# 01908304
Cell Phone: (650) 888-6903 * Direct Phone: (650) 712-0411
San Mateo County Real Estate and Homes for Sale

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