SF Peninsula — Our Burlingame offices report a steady to improving market. The Hillsborough market over $2 million is “robust” as long as the price is reasonable and the home is well staged. Hillsborough is often perceived as a bargain compared to other high-end markets on the Peninsula.

Across the hill in Half Moon Bay, our local manager says there has been a noticeable drop in activity on the coast these past couple of weeks. Buyers continue looking but are not writing offers. Our Menlo Park offices say they are seeing strong sales in the over $2.5 mil market – a $3.85 million listing in Menlo Park is getting three offers today!  Buyers are exhibiting even more discretion as the ratio of houses sitting while others go multiple is rising.  Houses sit until the price is reduced and then the buyers jump. The “off-the-market” high-end properties continue to attract buyers. With all the technology we have, word of mouth networking continues to be a factor. One recent off-market sale went for $7.9 million in Atherton. The Redwood City office says inventory is still low.  Open houses, particularly first time opens, are extremely well attended.  The attitude of the buyers seems to be positive. Palo Alto remains a very strong market with more than half of the transactions getting multiple offers. Finally, the San Mateo and the Woodside markets are holding steady. The over $3 million market is doing well with three sales over this price in the last couple of weeks. Woodside is slowly waking up. Portola Valley has been much stronger the last couple of weeks – brisk sales of $1.3 million to $4 million.

In summing up last week’s Bay Area real estate market, Rick Turley, President, SF Bay Area, Coldwell Banker Residential Brokerage added;

“We continue to see a mixed market throughout the Bay.  The common thread seems to be low inventory at the entry level and generally more multiple offers in the entry level. The mid-price market is probably the most perplexing with a lack of move-up buyers.  The increased activity at the Luxury end is certainly a strong sign, but common thread here is that this sector remains very price sensitive; luxury buyers are pulling the trigger when they perceive value.”
If you would like to read the entire report , go online to www.cbsfbaymarketwatch.wordpress.com

Ready to start looking at what is available in the area?  Start your Home Search today by visiting Coastal Real Estate

This fun filled event happens in San Mateo at the San Mateo County Event Center on Saturday, March 19^th.  It starts at 12:00 and ends at 4:00 pm.  The Event Center is located at 1346 Saratoga Drive in San Mateo.  Here you will see a bit of everything for weddings, honeymoons and even their new home!  The event also features a stunning New York style bridal fashion show including a live orchestra and DJ presentations, a colorful honeymoon show, awesome prizes and row after row of exciting and informative exhibits.

For more information visit their website or call 650-574-3247.

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Pacifica is home to a large 86 acre piece of land called The Quarry due to its former use as a limestone quarry.  For years it has been debated on what this beautiful piece of land located west of Highway 1 between the Rockaway Beach area and Vallemar should be used for.  Some considered this an opportunity to build a downtown for Pacifica as this is something that isn’t currently present in this charming city.  Would shops, restaurants, and additional living opportunities be the best use of The Quarry, and how would this change Pacifica?  These are questions that business and civic leaders in Pacifica have been wrestling with, and are still considering.

Recently, PacificaPatch writer Camden Swita, interviewed Jim Heldberg, owner of Silicon Segway in Rockaway about the options for The Quarry.  Below are the two videos of that conversation.

Whether you currently live in Pacifica or are planning to move to the area; we’d love to know your thoughts!  The great thing about the San Mateo Coastal towns of Pacifica, El Granada, Moss Beach, Half Moon Bay and Montara is that they are communities that truly care about their residents and what is best for the city.  There are always ways to get involved and be heard in these communities and right now is an ideal time to be heard in Pacifica.  You can view more information, give your feedback and stay tuned to updates on PacificaPatch.com.

If you have questions about living in Pacifica or about the Pacifica Real Estate market; please let us know!  We have been helping people find homes along the San Mateo Coast for years and can help you search out the home that best fits your needs and lifestyle.  Please feel free to contact us anytime to begin your Pacifica home search!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
Visit Our Website
Email Us

If you want to join Half Moon Bay residents in keeping the area healthy, there’s an opportunity to volunteer this Saturday, January 22nd!  The non-profit organization from Santa Cruz, Save Our Shores, will be hosting a beach and river clean up on Miramontes Point Beach and along Arroyo Canada Creek.  This FREE event will take place from 10am-12pm and SOS will be providing all cleanup supplies.  View more information for this volunteer opportunity, or view the Save Our Shores website for more information on future events!

While this coming Saturday will be a great time to volunteer, you may be wondering what you can do on a daily basis in your Half Moon Bay home!  We’re glad you asked!  There are many ways to be eco-friendly in your home and we’ve listed a few key ideas below.  Even though seemingly small; these daily choices can add up to a big difference in saving energy and helping our environement!

1. Bundle Up- Feeling chilled?  Instead of turning up the thermostat, throw on a pair of socks or an extra layer.  These small choices to not turn up the heat can really add up in energy savings!

2. Set the Timer- Set your thermostat to lower temperatures while you’re away from your Half Moon Bay home or while you’re sleeping.  This will automatically help reduce energy used as well as costs just by programming your thermostat.

3. Unplug- Not using an appliance?  Unplug it!  The Department of Energy notes that, even if appliances are not being used, they are still using energy.  40% of electricity used for your home electronics is used when they’re turned off, but still plugged in.  Getting in the habit of unplugging will be prove to be a smart habit in the long run!

4. Let the Sunshine In- During the day, be sure to leave blinds and curtains open to let in the sunlight and natural heat.  At night, shut them to help “trap” the warmth.

5. Switch our Your Lights- All of your lights can be changed out for energy efficient LED lights!  With the sun setting earlier, you’ll be using your indoor lights more often and your energy usage will increase.  Switching out your light bulbs can make an incredible difference.

6. Light a Fire- It’s amazing how a fire in your fireplace can heat up a room instantly!  Consider lowering your thermostat on cooler evenings and lighting a fire instead.

7. Stop Leaks- Check all doors and windows for drafts.  You can easily seal windows and doors to prevent the warm air from your Half Moon Bay home from escaping while making sure the cool air doesn’t leak in!

We hope you have the opportunity to get involved with the cleanup this weekend in Half Moon Bay, or that you can begin making these small changes in your home.  Either one will make a difference in our environment; remember every little bit helps!

If you have questions about going green in your home, or have been considering buying a home in Half Moon Bay in order to be a part of its’ vibrant community;  please let us know!  We’d be happy to answer any questions you may have or show you around the area.

We look forward to hearing from you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
Visit Our Website
Email Us

“What’s happening? First-time buyers are rushing to take advantage of the federal tax credit before it expires this spring. Unfortunately, we aren’t seeing a commensurate number of sellers bringing homes to the market to capitalize on this. There are inventory shortages throughout the Bay Area. Open homes are attracting a flood of serious buyers. The result is that attractive, well-priced homes in good neighborhoods are getting lots of interest and, in some cases, multiple offers. 

Without as much competition for buyer’s attention, a well-maintained home could stand out like a redwood tree in a desert. This may not last for long as more homes come on the market in the weeks and months ahead (don’t forget the old adage that people start listing homes after the Super Bowl).

So by and large, it’s pretty much a conversation about inventory when you talk about our Bay Area real estate market.  Even the luxury market, while admittedly slower than lower price points, has inventories trending down.  Take San Francisco, for example, for homes over $2 million.  The luxury market finished out December 2009 with a 6 months supply of inventory – compared to 10 months supply for the same period in 2008.  You’ll find similar trends in the high end in many of our communities in Silicon Valley, Peninsula, Marin, and the East Bay.  Accuracy in pricing and attention to detail in showing condition remains critical in the luxury markets, but sales activity is picking up and inventories are going down.”  by Rick Turley, President, Coldwell Banker San Francisco Bay Area

 Current homeowners can now receive a $6,500 tax credit, while first-time buyers are still eligible to receive an $8,000 credit. 
But act soon, the opportunity of a lifetime ends April 30th, 2010.

First time Home Buyer Credit has now changed 3 times.  The biggest change came in December 2009:
Extends the First-Time Home Buyer Tax Credit of up to $8000 to first-time home buyers until April 30, 2010 under the Binding Contract Rule-“as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until June 30, 2010 to close.
Who Qualifies-First-time homebuyers and current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five (5) consecutive years within the last eight years.
Increased Buyer Income-Under the Extended Home Buyer Tax Credit-effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.
Price-Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

HURRY IF YOU’RE THINKING OF PURCHASING OR YOU’LL LOOSE OUT ON FREE MONEY!

Open houses this week have finally slowed down.  Maybe it was the rain or just the time to get the Holiday shopping completed.  The market is still favoring Buyers. 

Pacifica had 8 new listings this week with 2 listed for over a Million dollars.  Brings the total of active listings to 47.  6 properties went sale pending this week.   All were listed at $698,000 or less.  There are 45 pendings.   6 new closings this week, all listed under $800,000,  brings the total closed homes YTD to 226.  Still a sellers market with low home inventory.

Next week will be our last week to report 2009 sales.    We don’t see any surprises before the end of the year.  The market has reacted to the Holiday Season.

Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The $900,000  plus price range is finally seeing activity with 25% of sales year to date.

Active Listings-106 Single Family Homes. 45  listed over $1,00,000, 18 listed under $600,000. 6 New Listings this week with 4 having been on the market and now relisted and  1 over $1Million.
Pending Sales-25 with 9 listed under $600,000 and 8 over $900,000.  4 pending sales this week with 1 over 1Million.
124 Homes Closed since January 1, 2009 with  32 that closed under $600,000 and 32 over $900,000.  3 closings this week with 1 listed over 2 Million.

PACIFICA, CALIFORNIA
With YTD sales of 224 and active listing at 49, Pacifica continues to be a Seller’s market.

Active Listings-49 Single Family Homes. 10 listed over $900,000, 21  listed under $600,000.  7 new listings with 4 under $600,000 and 1 over 1 Million.
Pending Sales-47 with 20 listed under $500,000. 3 new Pendings this week.
224 Homes Closed since January 1, 2009 with  83 that closed under $500,000 and 73 between $500,000- $600,000.  2 closings this week.

ABSORPTION RATE
Absorption Rate is the number of months it takes to sell the current inventory at the present rate of sales.
6 months supply is a balanced market.
Less than 6 months supply is a Sellers market.
More than 6 months supply is a Buyers market

Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The Million plus price range is finally seeing activity with 20% of sales in that price range.

Active Listings-108 Single Family Homes. 46  listed over $1,00,000, 17 listed under $600,000
Pending Sales-24 with 11 listed under $700,000 and 7 over $1 Million.
121 Homes Closed since January 1, 2009 with  31 that closed under $600,000 and 21 over 1 Million.

PACIFICA, CALIFORNIA
With YTD sales of 214 and active listing at 50, Pacifica continues to be a Seller’s market.

Active Listings-50 Single Family Homes. 10 listed over $900,000, 21 listed under $600,000
Pending Sales-44 with 18 listed under $500,000. 6 new Pendings this week. 3 under $500,000
217 Homes Closed since January 1, 2009 with  82 that closed under $500,000 and 71 between $500,000- $600,000.  No Closings this week

ABSORPTION RATE
Absorption Rate is the number of months it takes to sell the current inventory at the present rate of sales.
6 months supply is a balanced market.
Less than 6 months supply is a Sellers market.
More than 6 months supply is a Buyers market

Active Listings-121 Single Family Homes. 52 listed over 1 Million, 15 listed at $900,000 to 1 Million.
Pending Sales-36 with 14 listed under $700,000 and 10 listed over 1Million
99 Homes Closed since January 1, 2009 with only 16 that closed over $1,000,000 and 10 between $900,000 and 1 Million.

PACIFICA, CALIFORNIA
With YTD sales of 196 and active listing at 59, Pacifica continues to be a Seller’s market.

Active Listings-59 Single Family Homes. 11 listed at $900,000 or higher and 21 listed under $600,000.
Pending Sales-48 Single Family Homes with 30 listed under $600,000 and 1 over $900,000. 6 Properties went Sale Pending this week with under $700,000
196 Closed Sales since January 1, 2009 with 8 that were listed for over $900,000. 79 sales were from homes listed at $500,000 or less. 2 new sales this week.

ABSORPTION RATE
Absorption Rate is the number of months it takes to sell the current inventory at the present rate of sales.
6 months supply is a balanced market.
Less than 6 months supply is a Sellers market.
More than 6 months supply is a Buyers market