Category Archives: Listings

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Bay Area Home Prices Rise As Inventory Drops

“As long as there is very low supply, high-paying jobs and low interest rates, it will continue to go at this rate. Until the mechanics of something in the economy change, this is still going to be a bumpy ride for the next five or six months for buyers.”
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Buyers in San Mateo County are struggling to find homes on the market, as the local stock of available housing has shrunk precipitously in recent weeks, according to local experts.

As the lack of available options decrease, prices continue to surge, setting a market that is extremely difficult for those interested in purchasing a new home.
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The year started off with a bang in some regions of the Peninsula, but has ground to a halt recently, as fewer homes are coming onto the market.

This year touted the most new homes available in San Carlos in the month of January since 2012. But that momentum was not indicative of more good things to come, as February featured the fewest homes listed in that month since 2007.

The setback was so severe that the first two months of the year combined for the fewest homes becoming available San Carlos in eight years.
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Realtor Steven Hyman, who sells property along the coast in San Mateo County, echoed those sentiments.

He said there are 30 homes currently available for sale on the coastside, but normally there would be near 100.

“The inventory is just incredibly low,” he said.

According to data from the San Mateo County Association of Realtors, or SAMCAR, 181 single-family homes sold in the county last month, down from 202 during the February prior and 260 sold in February 2013.

It’s a culmination of factors has resulted in an unprecedented degree of difficulty for those currently searching for a new home.
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“It’s unlike anything I’ve ever seen in this market,” he said. “It’s a combination of low inventory everywhere, and on top of that, there’s an unprecedented amount of wealth.”

The dearth of options is spread across the county, as there are 587 homes available on the market, down from 1,181 homes in February 2012, according to SAMCAR.

“It’s the perfect storm. There are very well qualified buyers, and nothing to choose from.”  Hyman said he attributed the lack of available homes to how promptly real estate is being purchased.

“Houses are just getting snapped up in days,” he said.
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It is common for home buyers to make offers well over the listing price, or offer much of their down payment in cash with hopes to improve their odds of striking a deal. He said some buyers may be overreacting out of frustration associated with possibly being turned down repeatedly in a highly-competitive market, which could result in some being willing to pay considerably more than market rates.

“There is a certain desperation in the mind of some buyers. They are getting fed up with being outbid, and when people get that emotional and that frustrated, they tend to write very strong offers,” he said.

Average sales price in San Mateo County has climbed to $1.4 million in February 2015, up nearly $500,000 from that same month in 2012, according to SAMCAR.

“The county has gone into hyper drive,” he said. “This year blew through previous high sale prices.” And there is likely little relief in sight for those hoping to see the market slow down.

While large technology companies such as Facebook and Google are present in the area and offering well-paying jobs to young residents, home buyers will be able to continue paying the prevailing exorbitant rates.
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As well, housing stock is not likely to increase drastically, because space is limited along the Peninsula. Expect to see more high-rise housing developments built, similar to recent projects in Redwood City, because there is such a significant demand for housing but not an abundance of space to build.

(Post from Daily Journal)

 

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Pacific Heights Penthouse Sale Smashes SF Real Estate Records

(Post from SocketSite)
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We’ve shared many stories about record breaking real estate all over the Bay Area, but this particular sale in San Francisco is jaw dropping: 5400 sq. ft for $30M.

The 10th floor of the überexclusive Pacific Heights building at 2006 Washington Street has traded hands in a hush-hush deal and at a price point never before seen in San Francisco.
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While the seller had been privately seeking as much as $35 million for the 5,400-square-foot, full-floor unit #10, according to a plugged-in source, the sale price was closer to $30 million.

A sale at $30 million would not only make it the most expensive apartment (condo/co-op) in San Francisco, surpassingthe $28 million paid for the nearly 17,000-square-foot penthouse atop the San Francisco St. Regis, but it would shatter the price per square foot record for all residences in the city, both current and anticipated, at over $5,500 per square foot.
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And we’re told the buyers, who are not in tech nor from overseas, are working on plans to gut and remodel the unit.

The sellers of 2006 Washington #10 paid $14 million, or roughly $2,600 per square foot, for the unit in August 2000.  Zillow’s current “Zestimate” for the property is $6,461,232.
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Designed by Conrad Alfred Meussdorffer, overlooking the Spreckels Mansion with unobstructed views of the San Francisco Bay, there is a much smaller unit on the “11th” floor of the building, but the 10th floor of 2006 Washington was the original penthouse unit and many still refer to it as such.
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The Montara House

The Montara House: Modern and Distinctive with Panoramic Ocean Views

330 13th Street, Montara, CA
Attractively Priced: $2,150,000

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  • 3 Bedrooms
  • 4 Bathrooms
  • 2,710 Sq.Ft (assessor)
  • Lot Size: 6,000 Sq.Ft (assessor)

Located on the coast just south of San Francisco, this three bedroom, four bathrooms home is made of four elements: steel, glass, Peruvian hardwood, and aggregated cement. The Montara home at 330 13th Street, with its panoramic views, was designed by award-winning Anderson Anderson Architecture to maximize natural daylight inside the home and provide a warm environment to savor the refreshing coastal climate.
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To minimize the use of resources and the carbon footprint, the home was built from three primary materials – concrete, glass and sustainably harvested Peruvian redwood. The results are remarkable; a functional yet eco-friendly home, which includes an impressive photovoltaic and solar water heating with natural gas back up system cleverly concealed on the roof to provide dual sources hot water and heating for the home.

Strategically placed windows and skylights draw in the sun and glass walls around outdoor living areas create a natural buffer zone encircling the house. The 3,250 square foot home offers four bedrooms and four bathrooms on a 6,000 square foot southwest facing lot that provides excellent exposure for passive solar heating. The property also includes a 100 square foot tool shed worthy of the best do-it-yourselfer.
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When the home was built in 2008, no expense was spared when it came to the core construction features, beginning with cast-in-place concrete, insulated concrete, and American Mold Guard Certified resistant treatment of all of the framing, floors and joists. Other features include a three-foot crawlspace with mold resistant coatings under the floors and below grade stem walls; a whole-house dehumidifier with a HEPA air filter; a 30-year hospital grade plumbing waste system; 1 ½” copper main supply lines for all of the bathrooms; and in-floor radiant heating to help stave off the region’s occasionally chilly climate.
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The home also was constructed using a commercial grade electrical system with conduit and pulled wires; a home run A/V conduit system with future proof wiring; two layers of 1 1/8” plywood sub floor, compared to standard houses that typically use one layer of ¾” plywood; a 130 gallon solar water heater with radiant tie-in and 99% efficient gas back-up; a solar ready roof deck with built-in rack mount base; and a 10’x18’ cantilevered deck, just off kitchen, that is ideal for entertaining and taking in Montara’s stunning sunsets.

As impressive as the core construction is, the Montara home’s aesthetic touches are equally as inspiring. Exposed hand textured concrete and aggregate and custom milled Peruvian redwood and white mahogany woodwork and flooring throughout the home cultivate a sense of warmth and comfort. The elegant doors, windows, sidings and ceilings were custom crafted using Peruvian redwood. Floor to ceiling glass throughout the home offers panoramic ocean views, as does the 400 square foot roof deck, accessible via a custom built steel and glass stairway tower with glass treads and a glass bridge. Additional enhancements include 2 ½” thick floors to ceiling doors; offset pivot wood and glass entry and patio doors; and a beautiful custom wood ceiling with ½” shadow lines.
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Any chef would be in his element in the professional grade kitchen, with its cast-in-place 6’x20’ white concrete counter top with inside and outside glass detail and custom built island with cantilevered table. Cabinets include a soft closing feature. The appliances are covered with custom white mahogany doors that augment the stainless steel counter tops and hood enclosure. A sub-zero refrigerator headlines a menu of notable appliances and fixtures, including: a Thermador electric oven; Blue Star 22k BTU commercial grade range with built-in barbecue and six burners; Kitchen-Aid trash compactor; Miele dishwasher; 1,200 CFM dual blower Vent-A-Hood; two Blano sinks, including one sink that is custom integrated into the stainless steel island top; two Insinkerator garbage disposals; and AXOR Italian designed faucets.

Four bathrooms are adorned with white-Carrera slab marble floors, 24” wide white mahogany slab counter tops, custom white mahogany cabinets, Lacava Italian made fixtures, and Toto toilets with the soft close feature. A custom sunken Kohler Jacuzzi tub in the master bath offers sanctuary and serenity for the homeowner.
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Need tech? The Montara House delivers with whole house audio and video distribution and intercom systems, as well as a Custom Bay Alarm system with smoke and heat detectors. Recessed lighting and a custom designed MIRO brand lighting control system with programmable RF switches provides warmth and clarity throughout the home, and a whole house central vacuum system helps keep the home inviting and clean.

Privacy was clearly on the minds of the architects of the Montara home, as evidenced by the white laminate glass on the entire east side of the house and a motorized roller shade in the master bedroom. Comfort and style were clearly on their minds when they designed the cast-in-concrete, wireless controlled modern gas fire-ribbon fireplace and the custom living room glass wall, 15 feet tall by 35 feet long, cleverly suspended from the ceiling.
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A drive-able grass driveway leads to a two-car garage that is accessible via a double-sided door with drive-through ability. A separate laundry room with a sink and ironing center, as well as a flat, large grassy 3,000 square foot backyard, complete the Montara home’s unique attributes.

The Montara Home is just 25 minutes from San Francisco, 35 minutes from Palo Alto and minutes from a host of local destinations that sit atop any seasoned California traveler’s list, including: Fitzgerald Marine Reserve; Half Moon Bay; the historic Moss Beach Distillery; and the Seal Cove Inn, a destination lodging property. Montara’s natural microclimate provides a sense of seclusion from nearby cosmopolitan regions and assures that year round temperatures remain generally mild.
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The Alan Canas Team specializes in luxury coastal homes in San Mateo County.  If you are looking for a beach home consider The Montara House and call us today so we can provide a private tour 650.343.9059.

 

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Sheryl Sandberg Sells Atherton Estate

Facebook COO and “Lean In” author, Sheryl Sandberg, has quietly sold her sprawling estate in Atherton, CA for $9,250,000.

HOME STATS : 7 bedrooms, 8.5 bathrooms, 11,430 square feet, sprawling lawns, guest house

In December 2009, Sheryl and her husband bought a 4 bedroom, 3 bathroom, 2,900 square foot home on a large lot in nearby Menlo Park, CA, where Facebook moved their headquarters to in 2011. There, amid traditional and Spanish-style homes, they proceeded to build a slightly smaller, but much more modern family home. Stretching over 9,200 square feet, her newly-built home has a futuristic glass and steel exterior.

Full story and additional photos on Trulia Luxe.

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10 Best Places to Live In California

It’s hard to deny that California is one of the best states in the nation. Great beaches, great skiing, the redwoods, and some of the most spectacular views in the world all make this place our home.

With that in mind, where exactly is the best place to live in this great state? That’s what Movoto wanted to find out.

Rather than looking at specific cities and towns, they focused on counties to give people a wider range of options when house hunting. They crunched the numbers and came up with this definitive ranking of the best counties in California:

1. Marin County
2. San Mateo County
3. Santa Clara County
4. San Luis Obispo County
5. Ventura County
6. Placer County
7. Napa County (tie)
7. Orange County (tie)
9. Santa Barbara County
10. San Francisco County

Here’s the data they used to create this ranking:

  • Unemployment rate (the lower the better)
  • Median household income (the higher the better)
  • Median rent (the higher the better, to indicate area’s desirability)
  • Median home price (the higher the better, to indicate desirability)
  • Percent of families below the poverty line (the lower the better)
  • High school graduation rate (the higher the better)
  • Average Commute Time (the lower the better)

Full article on Movoto.com here.