Inventory Analysis

Has Spring finally sprung?  If this past week is an indication, we’re starting to come out of our winter hibernation.    9 new single-family listings hit the market this past week — 6 of them are 3BR/2BA configurations, which seem to be in the most demand right now in San Carlos.  Taking into account the 4 homes that went into contract this week, this surge of new listings pushed the inventory up to 34 total homes for sale in San Carlos – still well below average, but a good sign for buyers nonetheless.

If you’re interested in any of these new listings, be sure to visit one of the open houses being held this weekend.  Chances are some of them won’t be around next weekend!

Here’s a snapshot of the San Carlos single family home market, as of 3/13. The previous week’s stats are in parentheses:

Single-Family Homes Sold in San Carlos:

Below are the single-family homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.

2705 Eaton Avenue, San Carlos

2705 Eaton Avenue

• Pictured. Sale Price: $1,025,000. Original List Price: $1,149,000. Difference: $124,000 (10.8%) below original list. DOM: 163 Days, MLS #80939185.  Listed by Valerie Trenter of Coldwell Banker.

2904 Eaton Avenue

• Sale Price: $1,110,000. Original List Price: $1,125,000. Difference: $15,000 (1.3%) below original list. DOM: 0 Days, MLS #81010821.  Listed by Laura Bertolacci of RE/MAX Today.  Appears to have sold off-market.

2417 Melendy Drive

• Sale Price: $915,000. Original List Price: $900,000. Difference: $15,000 (1.7%) above original list. DOM: 10 Days, MLS #81004196. Listed by Robin Wrigley of Alain Pinel Realtors.

112 Northam Avenue

• Sale Price: $865,000. Original List Price: $989,000. Difference: $124,000 (12.5%) below original list. DOM: 185 Days, MLS #80939365. Listed by Judy Litteer of Prudential California Realty.

1636 Greenwood Avenue

• Sale Price: $799,999. Original List Price: $819,000. Difference: $19,001 (2.3%) below original list. DOM: 8 Days, MLS #81004510. Listed by Genella Williamson of Alain Pinel Realtors.

341 Laurel Street

• Sale Price: $725,000. Original List Price: $779,000. Difference: $54,000 (6.9%) below original list. DOM: 237 Days, MLS #80913571. Listed by Dean Asborno of Alain Pinel Realtors.

331 Fairfield Drive

• Sale Price: $660,100. Original List Price: $649,900. Difference: $10,200 (1.6%) above original list. DOM: 8 Days, MLS #81004274. Bank-owned property – Listed by Erick Crawford of Access Real Estate Services.

(Click the “Homes Sold” button below see all of the homes that have sold in San Carlos in the past 3 months.)

Homes Sold in San Carlos

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Single-Family Homes Pending Sale in San Carlos:

The following homes went “Pending Sale” this week — click on the address for more info:

• 49 Fay Avenue,  after 158 days on the market.
• 434 Hill Way, after 186 days.
• 715 Tamarack Ave, 6 days.
• 124 Plymouth Ave, 7 days.

(Click the “Homes Pending Sale” button below to see ALL the homes that are Pending Sale in San Carlos.)

Homes Pending Sale in San Carlos

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New Single-Family Home Listings in San Carlos:

Below are the new listings that hit the market this past week in San Carlos. Simply click on the address of each home to get all the details.

112 Wildwood Avenue, San Carlos

112 Wildwood Avenue

• Pictured: $1,685,000 – 4BR/3.5BA, 2,900 sq ft on a 6,490 square foot lot. MLS# 81010779. Listed by Michael Costello of Costello Realty.

10 Granite Court

• $1,385,000 – 3BR/2BA, 2,050 sq ft on a 7,080 square foot lot. MLS# 81011767. Listed by Kay Swen of Alain Pinel Realtors.    This was on the market last year, so it’s technically not a “new” listing.  But it’s inventory, and we need it.

126 Frances Lane

• $1,150,000 – 4BR/2.5BA, 1,910 sq ft on a 9,580 square foot lot. MLS# 81011994. Listed by Greg Celotti of Alain Pinel Realtors.

15 Madera Avenue

• $1,095,000 – 4BR/3.5BA, 2,790 sq ft on a 9,000 square foot lot. MLS# 81011752. Listed by John Shroyer of RE/MAX Today.   Was also on the market last year, but under a different brokerage.

1423 Cordilleras Avenue

• $989,516 – 3BR/2BA, 1,620 sq ft on a 4,400 square foot lot. MLS# 81011632. Listed by Nancy Palmer of Alain Pinel Realtors.

908 Rosewood Avenue

• $988,000 – 3BR/2BA, 1,500 sq ft on a 6,000 square foot lot. MLS# 81011617. Listed by Len Moore of Vilmont Investment Properties.

172 Lyndhurst Avenue

• $899,888 – 3BR/2BA, 1,660 sq ft on a 7,425 square foot lot. MLS# 81011712. Listed by Carole Rodinsky of Alain Pinel Realtors.

1100 Walnut Street

• $899,000 – 3BR/2BA, 1,360 sq ft on a 4,880 square foot lot. MLS# 81011883. Listed by Harriet Ham of RE/MAX Today.

388 De Anza Avenue

• $899,000 – 3BR/2BA, 1,470 sq ft on a 5,450 square foot lot. MLS# 81011710. Listed by Shirley Kraus of Intero Real .

1239 Elm Street

• $795,000 – 2BR/1BA, 1,039 sq ft on a 4,690 square foot lot. MLS# 81010749. Listed by Kyra Gebhardt Nelson of Alain Pinel Realtors.

Homes for Sale in San Carlos

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Condos and Townhomes Sold in San Carlos:

Below are the condos/townhouses that sold this past week. Click on the address for all of the details:

(no condos or townhouses sold this past week.)

(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)

Condos Sold in San Carlos

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Condo/Townhouse Pending Sales in San Carlos

The following condos/townhouses are now pending sale:

• 3350 Brittan Ave #2, after 154 day on the market.
• 3374 La Mesa Drive #9, 41 days.

(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)

Condos Pending Sale in San Carlos

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouse listings came on the market this past week:

1140 Royal Lane

• $925,000 – 3BR/2.5BA, 2,590 sq ft. MLS# 81011880. Listed by Yvette Collins of Cashin Company.

434 Portofino Drive, #301

• $839,000 – 2BR/2.5BA, 2,494 sq ft. MLS# 81011699. Listed by Carrie Du Bois of Coldwell Banker.

(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)

Condos for Sale in San Carlos

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What’s Open This Weekend?

Click the “Open House” button to see ALL of the homes and condos scheduled to be open this weekend in San Carlos.

Open House in San Carlos

Want your data sooner? Become a fan of the White Oaks Blog Page on Facebook where I post San Carlos home sales updates as they happen. Just click on the Facebook button below….



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(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)

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Inventory Analysis

If you haven’t noticed the trend yet, most new listings in San Carlos hit the market on either a Monday (to catch broker’s tour), or Friday (in time for the weekend open houses).   So if you’re looking for new listings, these are the two days to watch closely.  This past week, Friday brought us a strong surge of new listings as 5 new homes came on the market — and all were below the $1M mark, which is still the most active segment in San Carlos.   But with all of that new activity, we’re still below 30 homes for sale in all of San Carlos!

And for yet another week, there are more homes pending sale than there are active listings.

Here’s a snapshot of the San Carlos single family home market, as of 3/6. The previous week’s stats are in parentheses:

Single-Family Homes Sold in San Carlos:

Below are the single-family homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.

2230 Carmelita Drive, San Carlos

2230 Carmelita Drive

• Pictured – Sale Price: $1,362,000. Original List Price: $1,399,950. Difference: $37,950 (2.7%) below original list. DOM: 14 Days, MLS #81004048. Listed by Wendi Selig of Coldwell Banker.

364 De Anza Avenue

• Sale Price: $812,000. Original List Price: $825,000. Difference: $13,000 (1.6%) below original list. DOM: 8 Days, MLS #81005656. Listed by Susie Dews of Coldwell Banker.

1345 Woodland Avenue

• Sale Price: $810,000. Original List Price: $839,000. Difference: $29,000 (3.5%) below original list. DOM: 10 Days, MLS #81003184. Listed by Norine Higgins of RE/MAX Today.

(Click the “Homes Sold” button below see all of the homes that have sold in San Carlos in the past 3 months.)

Homes Sold in San Carlos

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Single-Family Homes Pending Sale in San Carlos:

The following homes went “Pending Sale” this week — click on the address for more info:

• 335 Pearl Avenue, after 10 days on the market.
• 256 Devonshire Blvd, after 222 days.
• 124 Northam Avenue, 14 days.
• 1330 Hull Drive, 109 days.
• 2130 Eaton Avenue, 21 days.

(Click the “Homes Pending Sale” button below to see ALL the homes that are Pending Sale in San Carlos.)

Homes Pending Sale in San Carlos

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New Single-Family Home Listings in San Carlos:

Below are the new listings that hit the market this past week in San Carlos. Simply click on the address of each home to get all the details.

1951 Eucalyptus Avenue, San Carlos

1951 Eucalyptus Avenue

• Pictured: $1,795,000 – 4BR/3.5BA, 3,100 sq ft on a 5,000 square foot lot. MLS# 81009423. Listed by John Shroyer of RE/MAX Today.

500 Prospect Street

• $925,000 – 3BR/2BA, 1,480 sq ft on a 7,050 square foot lot. MLS# 81010398. Listed by Gabriel De Armero of RE/MAX Today

1136 Rosewood Avenue

• $829,000 – 3BR/1BA, 1,370 sq ft on a 4,880 square foot lot. MLS# 81009390. Listed by Stephen Hicks of Gateway Properties.

153 Park Avenue

• $799,900 – 3BR/1.5BA, 1,330 sq ft on a 5,550 square foot lot. MLS# 81010470. Listed by Dee Edmonds of Coldwell Banker.

715 Tamarack Avenue

• $779,000 – 2BR/1BA, 1,080 sq ft on a 6,477 square foot lot. MLS# 81010366. Listed by Justine Ford of RE/MAX Today

124 Plymouth Avenue

• $739,000 – 3BR/2BA, 1,300 sq ft on a 6,650 square foot lot. MLS# 81010470. Listed by David Young of Coldwell Banker.

1028 McCue Avenue

• $689,000 – 3BR/2BA, 1,340 sq ft on a 5,400 square foot lot. MLS# 81010589. Listed by Susan Mitchell of RE/MAX Today

Homes for Sale in San Carlos

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Condos and Townhomes Sold in San Carlos:

Below are the condos/townhouses that sold this past week. Click on the address for all of the details:

(no condos or townhouses sold this past week.)

(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)

Condos Sold in San Carlos

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Condo/Townhouse Pending Sales in San Carlos

The following condos/townhouses are now pending sale:

• no condos or townhouses went pending this past week.

(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)

Condos Pending Sale in San Carlos

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouse listings came on the market this past week:

3354 Brittan Avenue #10

• $689,000 – 2BR/2BA, 1,040 sq ft. MLS# 81010023. Listed by Bill O’Leary of Cashin Company.

(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)

Condos for Sale in San Carlos

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What’s Open This Weekend?

Click the “Open House” button to see ALL of the homes and condos scheduled to be open this weekend in San Carlos.

Open House in San Carlos

Want your data sooner? Become a fan of the White Oaks Blog Page on Facebook where I post San Carlos home sales updates as they happen. Just click on the Facebook button below….



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(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)

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and join the group!

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“Stick-to-it-iveness”

This post also has absolutely nothing to do with real estate….or San Carlos.  But it is the 500th article on the White Oaks Blog.   My hands hurt just thinking about that number.  When I started this site in the fall of 2007, I couldn’t fathom finding the material (or the initiative) to write 5 articles, let alone 500.   But the odometer that keeps track of site data has been slowly clicking away, and after 500 posts, 1,349 comments, and probably about 300,000 words (I’m just guessing on this last one, but I’m probably not too far off ), here we are.   That’s a lot of ….whatever you want to call it.

What does this mean?  I don’t know… I guess if you stick to something long enough…well,  you get stuck to it.   It also means that if I get an early onset of arthritis, I’ll know exactly why.

A Long, Interesting Journey.

Far more interesting than the numbers, is the path this site has taken over the past two or so years.  What started out as a place to post real estate data slowly evolved into a community bulletin board of sorts — it didn’t take long to figure out that while people in San Carlos are certainly interested in real estate, they’re absolutely passionate about the issues that pertain to their neighborhoods, their schools, and their city.   This is a good thing!  And with all that has been happening in San Carlos over the past 3 years, both good and bad, there has been no shortage of things to write about.

This site has opened doors and has taken me places I would never have imagined going, like landing this impromptu 30-second gig on KCBS radio.  That was definitely a trip!

But the biggest surprise to me about this site, and the aspect I treasure most, is the personal connections that it has created for me.   I have made friends with many great people through the site that I probably wouldn’t have met otherwise — residents, City Council members, police officers, fellow bloggers…all different people, but all who share a common desire to make San Carlos a great place to live.

It has been an interesting journey, that’s for sure.

Thank YOU.

The bottom line is that this site would have never survived this long had it not been for the following and support of the readers.  You’ve graciously tolerated three different background changes to the site (now I know why people got so angry with Facebook!),  countless technical glitches, and hopefully a steady improvement in the quality of the writing.

The path this site has taken is a direct result of your feedback, through comments and emails.   Blogging is probably akin doing a radio show — you’re really pushing words into the abyss without having any idea if anyone is reading, or what they’re thinking about it.    So I’m truly thankful for those of you who have taken the time to read the site and comment on what’s written.  That feedback shapes the direction of the site more than anything else.

What’s Next?

There are lots of important topics to cover in the weeks and months ahead.   The budget crisis will continue to provide tons of food for discussion.  And I have great ideas for the new “Spotlight on San Carlos” interview series that should make it really fun (and save my fingers from all of that typing.)   I’ve even worked a deal with the Museum of San Carlos History, where they’ll allow me to post some historical photos of San Carlos in a weekly series.  Stay tuned for that in the coming weeks.

Will there be a 1,000th post on the White Oaks Blog?   I don’t know.   There’s a part of me that believes blogs will become the dinosaurs of social media in the not-too-distant future,  only to be replaced by “the next big thing”, whatever that may be.

But until that day comes, I’ll just keep keep typing away…

and join the group!

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Great Neighborhood, Great Home…

Whenever a home comes on the market on Eucalyptus Avenue in San Carlos, it’s definitely newsworthy.     Although it only spans two blocks, Eucalyptus is arguably one of most well known streets in all of San Carlos, due to the spectacular Halloween and Christmas displays they host every year.   But there’s much more to Eucalyptus than just holiday glitter.

A big draw for Eucalyptus is its location.  It’s only a block or so from Burton Park, and an easy jaunt to the northern “restaurant row” of Laurel Street.  Even more important to families with school age kids, it’s an easy walk to both Brittan Acres Elementary and Central Middle Schools.  So with the exception of rainy days, you should never have to drive the kids to school from kindergarten all the way to 8th grade!

But for my money, the best part about Eucalyptus is the neighborhood itself.  It’s an extremely tight knit group of neighbors, many who have lived on the street for decades.   Consequently, everyone seems to know everyone else — and if you don’t, you certainly will after the annual block party.   Ask anyone who lives there and they’ll tell you it’s a great place to raise a family.

1951 Eucalyptus Avenue.

This home, which just came on the market today, is a spectacular 4-bedroom, 3.5-bath gem that has been completely rebuilt from the ground up.  It’s being offered at $1,795,000 by John Shroyer of RE/MAX Today.   I just took an extensive tour through this home, and it’s just as elegant on the inside as it is striking from the outside.  First-class touches are everywhere, from the rich hardwood floors both downstairs and upstairs, to the subtle wainscoting that runs throughout the home.   The layout is intelligent, with very little wasted space — this is important, because putting a 3,100 square foot home on a 5,000 square foot lot doesn’t leave much margin for error.

1951 Eucalyptus Ave, San Carlos

The kitchen (pictured at the right) is just spectacular, and it flows well with the family room and dining room.  The bedrooms are generously-sized, and the upstairs laundry room is one of the biggest I’ve seen in a house this size (trust me, this is important if you have kids!)  The yard is tastefully landscaped, again making the absolute best use of the space available.

For complete details and more photos of this great home, click here:  1951 Eucalyptus Avenue, San Carlos.

The Total Package.

If a newly-built home in San Carlos is high on your priority list, then you really need to see this place.   As you’ve read here many times, there aren’t many homes currently for sale in San Carlos to begin with — but you can count the number of newly built ones on one hand.   So when you factor in the quality of this house and its location, 1951 Eucalyptus Avenue is the total package.

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Waiting out the Market.

Bottom of the market? Economic recovery? That’s not how a growing number of potential home buyers are assessing the current real estate market right now. Despite many indicators that have pointed toward a gradual recovery in 2010, there’s a contrary view that’s starting to gain some footing, and it’s making these buyers and real estate investors nervous: Double-Dip Recession.

What is a Double-Dip Recession?

Investopedia defines a double-dip recession as follows:

“When gross domestic product (GDP) growth slides back to negative after a quarter or two of positive growth. A double-dip recession refers to a recession followed by a short-lived recovery, followed by another recession.”

While nobody is standing up and saying that we’re heading back into a recession, the news this past week certainly raised questions about the validity of our current “recovery”, as this article from CNBC discusses: Double-Dip Recession Fears Creep Back into the Market. For some home buyers, this specter is enough to keep them on the sidelines, even despite record-low interest rates. Here’s why…

More Inventory, Lower Prices…

There’s no question that the market in San Carlos right now favors the seller. There are simply way more buyers than available listings, and this imbalance has helped keep San Carlos home prices stable. But this imbalance has also been enough to make some buyers put their home purchase on the back burner for the time being. It only takes a couple of multiple-offer losses to take the starch out of anyone’s desire to buy a home.
Those who subscribe to the likelihood of a double-dip recession believe that this event will not only nullify this imbalance, but sway the pendulum back in favor of the buyer. Consequently, they’re willing to wait for the following events to transpire:

• Price Drop. Some buyers are reluctant to buy now because they’re afraid their home value may drop in the event of another downturn. It’s a legitimate concern, but also a short-term mindset. The value of everything drops during a recession — housing is no different — so they’re willing wait for a better deal on any house later, than to buy their first choice now.

• Inventory Increase.   Whether it’s a cause or effect, unemployment and recession are usually joined at the hip.   Another extended period of unemployment will simply break the back of many homeowners who are currently struggling to stay afloat.  This will increase the number of listings (distressed or otherwise) as people simply give up the fight and move on.  Higher inventory means lower prices, and potentially better choices for buyers.

What to Do?

If you’re scratching your head wondering whether it makes sense to jump in now and buy a home, or wait until the direction of the economy becomes more clear,  you’re definitely not alone.   Banking on another recession happening is a calculated risk — regardless of what happens, there’s a unanimous opinion that interest rates will rise this year, so even if you do hold out for a better deal, it may cost you more to finance it.

In the end, your own personal needs will dictate which direction is right for you.   Some people simply need to buy right now, and have a long-term horizon absorb the ebbs and flows of housing prices.  Others have the luxury of time, and are willing to wait out the market.  But this increasing stand-off will have an interesting impact on the spring market, especially if the specter of another recession lingers.

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Inventory Analysis

Not only did inventory remain low this week — it actually dropped again, as pending sales outpaced new listings.  Once again, we’re below 30 homes for sale in all of San Carlos.  Interesting to note that those 29 homes that are on the market have been there for an average of 83 days — so while some homes are moving quickly, not all of them are.

Here’s a snapshot of the San Carlos single family home market, as of 2/27. The previous week’s stats are in parentheses:

Single-Family Homes Sold in San Carlos:

Below are the single-family homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.

1944 Eaton Avenue, San Carlos

1944 Eaton Avenue

• Sale Price: $985,000. Original List Price: $959,000. Difference: $26,000 (2.7%) above original list. DOM: 63 Days, MLS #80955638. Listed by Dan Robinson of RE/MAX Today.

15 Buckland Court

• Sale Price: $905,000. Original List Price: $978,000. Difference: $73,000 (7.5%) below original list. DOM: 34 Days, MLS #80937501. Listed by Raquel Nikravesh.

1101 Orange Avenue

• Sale Price: $790,000. Original List Price: $779,000. Difference: $11,000 (1.4%) above original list. DOM: 2 Days, MLS #81004505. Listed by Dan Robinson of RE/MAX Today.

1357 Rosewood Avenue

• Sale Price: $738,000. Original List Price: $738,000. Difference: $0 (0.0%) from original list. DOM: 65 Days, MLS #80957836. Listed by Leonard Bialer of Bialer & Associates.

(Click the “Homes Sold” button below see all of the homes that have sold in San Carlos in the past 3 months.)

Homes Sold in San Carlos

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Single-Family Homes Pending Sale in San Carlos:

The following homes went “Pending Sale” this week — click on the address for more info:

• 60 Harford Avenue, after 94 days on the market.
• 309 Old County Road, after 28 days.
• 117 Beverly Drive, 12 days.
• 700 Best Court, 76 days.
• 350 Oakview Drive, 5 days.
• 120 Palm Avenue, 11 days.

(Click the “Homes Pending Sale” button below to see ALL the homes that are Pending Sale in San Carlos.)

Homes Pending Sale in San Carlos

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New Single-Family Home Listings in San Carlos:

Below are the new listings that hit the market this past week in San Carlos. Simply click on the address of each home to get all the details.

324 Oakview Drive, San Carlos

324 Oakview Drive

• Pictured: $1,295,000 – 4BR/3.5BA, 3,490 sq ft on a 6,375 square foot lot. MLS# 81008746. Listed by Bob Bredel of RE/MAX Today.

885 Sunset Drive

• $999,999 – 4BR/3BA, 2,600 sq ft on a 8,100 square foot lot. MLS# 81008742. Listed by Mahin Adeeb of Intero Real Estate Services.

11 Willow Glen Way

• $899,000 – 3BR/2BA, 1,280 sq ft on a 4,482 square foot lot. MLS# 81009007. Listed by Regan Byers-Cinelli of Cashin Company.

Homes for Sale in San Carlos

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Condos and Townhomes Sold in San Carlos:

Below are the condos/townhouses that sold this past week. Click on the address for all of the details:

3280 La Mesa Drive

• Sale Price: $544,000. Original List Price: $559,000. Difference: $15,000 (2.7%) below original list. DOM: 84 Days, MLS #80954550. Listed by Sean Clar of RE/MAX Star Properties.

(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)

Condos Sold in San Carlos

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Condo/Townhouse Pending Sales in San Carlos

The following condos/townhouses are now pending sale:

• 222 Laurel Street #111, after 5 days on the market.

(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)

Condos Pending Sale in San Carlos

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouse listings came on the market this past week:

(there were no new condo or townhouse listings this week.)

(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)

Condos for Sale in San Carlos

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What’s Open This Weekend?

Click the “Open House” button to see ALL of the homes and condos scheduled to be open this weekend in San Carlos.

Open House in San Carlos

Want your data sooner? Become a fan of the White Oaks Blog Page on Facebook where I post San Carlos home sales updates as they happen. Just click on the Facebook button below….



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(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)

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and join the group!

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Photography is Art.

Hey, it’s Friday…and this post has absolutely nothing to do with real estate, or San Carlos for that matter.    But it has everything to do with amazing photography, and the stories that are behind the pictures (and the lenses).  Ansel Adams once said that he felt photography was not considered an art form by the “experts” of his era, and it was this slight that drove him to become one of the world’s greatest photographers.   Make no mistake, photography IS art.

A few months back, I read about a website that had just been created that was a essentially a collaboration of the work of four very accomplished Bay Area photographers.   Rather than continue to publish their work independently, the group formed a website called Caliber to showcase their collective works.  Much of their work is based on the scenery in San Francisco — who could blame them?  It’s one of the most photogenic cities on the planet.

But a fair amount of their posts are based on the interesting people of San Francisco, most of which are candid shots like the one on the right.  There’s even an occasional series that’s called the $2 Portrait that is simply compelling.   During his daily travels throughout the City, photographer Troy Holden is often asked for money by a homeless or downtrodden person – in return for giving them $2, they agree to let Troy take their picture, and while Troy is shooting their portrait, he finds out a little bit about that person.  The stories are often times amazing, and incredibly sad at the same time.

See the World Through Their Lens.

If you love photography, or San Francisco (or both), you need to check out Caliber. The photography is breathtaking, and the commentary behind the pictures is equally compelling.   It’s a great reminder of why you chose to live near the City in the first place….

In cased you missed it embedded in the post, here the link again:  Caliber.

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Inventory Analysis

Things are certainly heating up in the world of San Carlos real estate.  For the second week in a row, there has been a healthy influx of new listings – but for the second consecutive week, homes have been selling at virtually the same rate as they’re coming on the market.  Just look at the number of homes that went into contract this week (see below) and how fast they sold.   5 of the 7 that sold were on the market for less than 2 weeks.

BlogCast

For this week’s review, there’s also a BlogCast on the current market conditions in San Carlos.  Just click on the play button below:

Here’s a snapshot of the San Carlos single family home market, as of 2/20. The previous week’s stats are in parentheses:

Single-Family Homes Sold in San Carlos:

Below are the single-family homes that sold this past week in San Carlos. Click on the respective addresses to get all the details.

1813 Chestnut Street, San Carlos

1813 Chestnut Street

• Sale Price: $910,000. Original List Price: $899,999. Difference: $10,001 (1.1%) above original list. DOM: 8 Days, MLS #81001201. Listed by Maxine Dumas of Dumas & Company.

1125 Walnut Street

• Sale Price: $750,000. Original List Price: $769,888. Difference: $19,888 (2.6%) below original list. DOM: 10 Days, MLS #81000939. Listed by Steve Eldridge of RE/MAX Today.

(Click the “Homes Sold” button below see all of the homes that have sold in San Carlos in the past 3 months.)

Homes Sold in San Carlos

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Single-Family Homes Pending Sale in San Carlos:

The following homes went “Pending Sale” this week — click on the address for more info:

• 112 Northam Ave, after 185 days on the market.
• 142 Wildwood Ave, after 7 days.
• 331 Fairfield Dr, 17 days
• 364 De Anza Ave, 8 days.
• 15 Arch Lane, 11 days
• 159 Ruby Avenue, 5 days
• 26 Beverly Drive, 5 days.

(Click the “Homes Pending Sale” button below to see ALL the homes that are Pending Sale in San Carlos.)

Homes Pending Sale in San Carlos

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New Single-Family Home Listings in San Carlos:

Below are the new listings that hit the market this past week in San Carlos. Simply click on the address of each home to get all the details.

335 Pearl Avenue, San Carlos

335 Pearl Avenue

• Pictured:  $997,000 – 3BR/2BA, 1,690 sq ft on a 7,000 square foot lot. MLS# 81007768. Listed by Jean Rigg of Menlo Realty.

350 Oakview Drive

• $859,000 – 3BR/2BA, 1,120 sq ft on a 5,610 square foot lot. MLS# 81007795. Listed by Lizbeth Rhodes of Alain Pinel Realtors.

124 Northam Avenue

• $799,000 – 3BR/2BA, 1,580 sq ft on a 6,840 square foot lot. MLS# 81007352. Listed by Stanley Lo of Green Banker Realty.

1733 Alameda de las Pulgas

• $749,000 – 3BR/1BA, 1,230 sq ft on a 3,400 square foot lot. MLS# 81007150. Listed by Lisa Susnow of Coldwell Banker.

Homes for Sale in San Carlos

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Condos and Townhomes Sold in San Carlos:

Below are the condos/townhouses that sold this past week. Click on the address for all of the details:

3280 La Mesa Drive

• Sale Price: $544,000. Original List Price: $559,000. Difference: $15,000 (2.7%) below original list. DOM: 84 Days, MLS #80954550. Listed by Sean Clar of RE/MAX Star Properties.

(Click the “Condos Sold” button below to see all of the condos and townhomes that have recently sold in San Carlos)

Condos Sold in San Carlos

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Condo/Townhouse Pending Sales in San Carlos

The following condos/townhouses are now pending sale:

• no condos or townhouses went pending this past week.

(Click the “Condos Pending Sale” button below to see all of the condos and townhomes that are pending sale in San Carlos)

Condos Pending Sale in San Carlos

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New Condo/Townhouse Listings in San Carlos:

The following condo/townhouse listings came on the market this past week:

222 Laurel Street #111.

• $275,000 – 3BR/1BA, 1,230 sq ft on a 3,400 square foot lot. MLS# 81007664. Listed by Lisa Susnow of Coldwell Banker.

(Click the “Condos for Sale” button below to see all of the condos and townhomes that are currently for sale in San Carlos)

Condos for Sale in San Carlos

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What’s Open This Weekend?

Click the “Open House” button to see ALL of the homes and condos scheduled to be open this weekend in San Carlos.

Open House in San Carlos

Want your data sooner? Become a fan of the White Oaks Blog Page on Facebook where I post San Carlos home sales updates as they happen. Just click on the Facebook button below….



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(The “San Carlos Week in Review” series is a summary of new listings and home sales in San Carlos for the prior week.)

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Trouble Finding Open Houses in San Carlos?

For some strange reason, it has always been difficult to find a single website that lists all of the open houses in a particular community for the upcoming weekend.  Think of how useful that would be to get an up-to-the-minute list of what homes and condos are open this weekend in San Carlos!  Well, now you have it..  Introducing the Open House Link from the White Oaks Blog!  or, better known as the “White Oaks Blog OH.”

Just Remember the Letters “OH”…

I’ve always had the “Open House” icon on the right sidebar of the blog, which lists all of the open houses and condos in San Carlos.  But what if you’re not on the blog when you need that information?  What if you’re already in your car driving around looking for open houses?   Well, I have created a VERY easy to remember link that you can punch into any computer or smart phone:

http://WhiteOaksBlog.com/OH

This url is very cool because it’s a “live link“, meaning it’s updated continuously.    So as soon as an agent updates their listing on the MLS with new open house hours, they’re automatically captured here — without doing a thing.   This is especially useful because some agents forget to post the open house hours on the MLS until the last minute (I have been guilty of that boo-boo myself.)

Once you’re on the page, not only do you see what days and hours the home is scheduled to be open, but you also get all of the listing information on the home, just like you would if you were on the MLS — including pictures!

So check it out — all you have to remember is “WhiteOaksBlog.com” (which you already know because you’re here), and “OH” (for Open House), and you’ve got it!  Better yet, just bookmark it on your phone or computer now.  You’ll never have to hunt down a list of open houses in San Carlos again.

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Contingencies

Contingencies are key checkpoints that are inserted into the Residential Purchase Contract to protect the buyer …or more specifically, the buyer’s deposit, in the event that something happens outside of the buyer’s control that prevents the sale from proceeding.  And that’s important, because customarily the good faith deposit that the buyer submits with the offer is usually 3% of the purchase price — that’s no small chunk of change on any home in San Carlos!

The most common contingencies that buyers invoke are usually Title, Property Condition, and Finance.   The information needed to remove Title and Property Inspection can be obtained in relatively short order — title reports are readily available, and property inspections are usually completed in a matter of days (if you have a good inspector.)

The Final Checkpoint

So that leaves us with the Finance Contingency.  Because it typically takes the lender longer to gather the information that they need to approve the loan to fund this purchase, the Finance Contingency is usually the last one to be removed, and consequently the last “safety net” for your hefty deposit check.  You’ll notice that a good buyer’s agent will always request a longer removal period for this contingency than all of the others.

So what is a Finance Contingency?  The PRDS Residential Purchase Contract defines it as:

“…this contract is made contingent on Buyer’s obtaining a loan commitment for the financing described in Paragraphs 1D and/or 1E, and shall have ___ days from Acceptance within which to remove or otherwise act on said contingency.  (Buyer agrees to verify all loan terms directly with Lender prior to removing this contingency.)”

The most important sentence in this entire contingency is the last one.   Here’s why…

It Ain’t Over ‘Til It’s Over..

When you are “pre-approved” for a loan, you do most of the work with the bank up front, prior to making an offer on a home.  Consequently, when you get a pre-approval letter from the bank and you’re ready to go shopping, there are only a few conditions attached this approval — the biggest of which is that the bank requires a satisfactory appraisal which justifies the purchase amount.  This is where things get tricky…

Up until recently, if your prospective home appraised at the sales price (or high enough to get the loan you committed to), you were done.  It was safe at that point to remove the Finance Contingency, because the loan approval was a rubber stamp after that.   But that’s not the case anymore.

Lenders can no longer conduct their own appraisals — new laws require them to outsource this key function to Appraisal Management Companies that are not affiliated with the bank.  This means the bank will usually have their underwriters scrutinize the appraisal once they get it back from the AMC,  even if the appraisal justifies the offer price.   If that underwriter finds anything amiss in the appraisal — i.e. not enough comparable homes, inconsistent remarks, or they outright challenge the valuation — it can get kicked back for further review and possible re-appraisal.   Thankfully this only happens in a minority of the cases, but it is happening with increasing frequency.

But this serves as a perfect reminder that your loan isn’t approved when the appraisal is completed — your loan is approved when the lender tells you they have approved your loan. (Did you notice that the word “appraisal” isn’t even in the definition of the Finance Contingency?)

In other words, it ain’t over til it’s over.

Protect Yourself

For buyers, the Finance Contingency is often the last checkpoint to protect your deposit check.   You can see the pickle you can get yourself into if you rush to remove your Finance Contingency as soon as you hear that the home appraised at your offer price.     In today’s market,  wait an extra day or so until the lender approves the entire loan package (including the appraisal) and is ready to issue loan documents to the title company before you remove that last safeguard.  Don’t be pressured into doing it sooner simply because your contingency removal deadline is approaching.   A good agent will first ask for an extension of the deadline in advance of the deadline of this contingency if he or she senses that there could be a delay — any reasonable seller will usually grant this, since the delay is out of the buyer’s control.

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