Consumer Confidence In part three of our five part series on "When is the Best Time to Sell A Home" we examine some of the broader national issues which affect the overall atmosphere of home buying and selling.The confidence of consumers is critical to trade. The "Consumer Confidence" report  is a measurement taken by the Conference Board, an independent not-for-profit organization who polls 5,000 representative U.S. households; it's bit like taking the pulse of the average consumer. Of course when consumer confidence is high-or rising-buyers tend to be more bullish. The effect that the release of these numbers has is a bit like the tail wagging the dog. In fact, it is a measurement of what a predetermined group of consumers think about the future, and when the numbers are released they... 08/18/2007

Sales of resale homes in Belmont have declined this year as mortgage rates have increased. Surprisingly, inventory levels have not reached threshold conditions enough to put downward pressure on pricing to any large extent. Fewer sales can be the simple result of having fewer homes for sale (low inventory). This can have the effect of raising prices as buyer compete for relatively small inventory. Fewer sales can also be attributed in the case where large inventory exists to buyers simply deciding not to purchase a home. Examining the "Days on market" and "Percent a Seller Receives" graph can help explain which is the current market condition. 08/12/2007

Belmont's median price took a dip in July but is well within the normal real estate cycle. Small samples such as the town of Belmont are better examined year-over-year since the sale of higher priced homes in one month can skew the results.The Median price trendline is illustrating where the median price should be if it continued an averaged climb based on prior performance. Note that while it takes some wild swings up and down above and below the trend line, overall, the trend has remained up for years. 08/12/2007

The number of days it takes to sell a home is a good indication of the market activity. In some areas a week is normal and in others it could be three months. It's important to know your local real estate market. As you can see by this graph, Belmont's current stat is right on track for this time of year. 08/12/2007

The inventory levels in Belmont are still well within reason to sustain current pricing levels and currently do not indicate a "fire sale" mentality on the part of sellers. While inventory levels fluctuate wildly, the median price continues a somewhat steady climb. Mid-year cyclical inventory levels change as holidays, vacations and even inclement weather impact a seller's ideal time to list their home for sale. Sharp increases in inventory--those which are caused by a decrease in demand--have the most impact on what a seller might receive for their home--not seasonal levels. Notice the impact the World Trade center attacks of September 11th 2001 had on inventory levels as potential home buyers temporarily withdrew from the home buying process.Notice that it takes several months after t... 08/12/2007

This graph illustrates the average price a seller received for their home in Belmont through July of 2007 as contrasted to prior years. As you can see, the local current market is still quite active. The numbers are not in for August, but they should provide an excellent indication of the impact the recent mortgage industry woes are having. 08/12/2007

Drew & Christine Morgan"Helping People Make Good Decisions"smPart 1 of a five part series on "When is The Best Time To Sell Your Home Interest rates and the Availability of Mortgage MoneyInterest rates and the availability of mortgage money have a direct bearing on home values and sales. This is especially true when they are in flux. When interest rates remain low, as they have for the past several years, it sets the stage for more homes sales. Simply put, it's more affordable to own a home and so more people opt to purchase one. Beyond the affordability index, is the perception that an opportunity exists which could evaporate and buyers flock to own a piece of the American dream before it's too late. Recently, there also existed housing investment opportunities which looked to offer be... 08/12/2007

 Drew & Christine Morgan-Belmont Real Estate"Helping People Make Good Decisions"smIntroduction:Welcome to the introduction of our five part series on when is the best time to sell a home. We'll examine issues that affect home values and selling opportunties on a macro level, and then provide detailed information for our market sector. We hope you enjoy the series.When's The Best Time to Sell a Home? That simple question is one of the most frequently asked when we meet a seller. Unfortunately, the answer is not as easy.There are many factors which may influence your local market and having the data certainly helps one examine when may be the best time to sell a homeEveryone knows real estate highs and lows-like in business-are cyclical. The recent 10 year run up in home values nationwide... 08/12/2007

The somewhat fledgling emergence in the real estate industry of on-line brokers would love for sellers to believe that "traditional" agent commissions are limited (some even state that on their web page). Commissions are negotiable and many "traditional" agents are offering very non-traditional commission structures-as in by the hour. And yes, there are some arrangement (as in when your home sells in one week) that you may feel your agent was overpaid-and you might be right. But most sellers hire their agent to get their home sold for the most money in the shortest period of time. And if the agent did that in a week one would think a seller would be pleased. The alternative would be to sell the home after a long period of time (probably for less) and inconvenience to the seller-ending w... 08/08/2007

Belmont Microclimates For those of you who live and work in Belmont it may come as no surprise to find the temperature in one part of Belmont completely different from another. These so called "microclimates" exist all over the Peninsula but in some cities such as Belmont, they can be found within the city itself. Back in the day before air-conditioning, choosing a mild climate was key to comfortable summer evenings. In the 1860's, William Chapman Ralston picked a strategic place in Belmont to build his home. Located near the then bustling downtown section of Belmont, yet secluded inland far enough to be protected from the cooler San Francisco Bay winds, this area today is known for its superior microclimate. Other microclimates can be found elsewhere such as in the hills overlooking th... 08/07/2007

Drew & Christine Morgan     Belmont Market Update      June 2007                    AddressBedsBathsList PriceSale Price%SP/LP$/Sq. Ft.DOMSq. Ft.Lot2317 CASA BONA32$695,000$690,00099%$556151,2407800529 CHESTERTON31$759,950$757,750100%$750151,01054502029 ARBOR21$775,000$800,000103%$964108306243319 SUSSEX32$809,500$840,000104%$609141,38056632605 PONCE31.5$849,000$835,00098%$739271,13075661047 TAHOE42$850,000$984,000116%$439112,240136321524 PINE KNOLL31.5$859,000$930,000108%$608111,53060002710 MONSERAT43$898,000$870,00097%$341112,55090502804 SAN ARDO33$955,000$945,00099%$553281,7106100507 ALAMEDA32$959,000$980,000102%$56691,73062501840 ALDEN32$980,000$990,000101%$63581,56055001805 MILLER43$989,000$1,000,000101%$590121,69686401741 FRANCIS32$1,029,950$1,010,00098%$631171,600819061 EDGEWOOD32... 07/29/2007

Drew & Christine Morgan     Belmont Market Update      May 2007       ADDRESSBEDSBATHSLIST PRICESALE PRICERECEIVED$/SQ.FT.DOMSQ.FT.LOT9 COBBLESTONE22.5$774,000$780,000101%$44151,7701850603 HILLER ST31$799,000$819,000103%$569111,4405000605 HILLER ST31$819,000$815,000100%$80761,01053002402 DEKOVEN31.5$821,000$843,000103%$664111,27047842019 MONROE22.5$828,000$856,000103%$453101,89040002002 FOREST32$859,000$945,000110%$90091,05040002412 PALMER32$875,000$875,000100%$643151,36050008 CHRISTIAN CT42$898,000$995,000111%$672101,48065921736 VALLEY VIEW32$899,000$888,00099%$522181,70060002425 CORONET BL32.5$899,000$872,00097%$522301,67050001928 ARBOR AV32.5$945,000$975,000103%$595101,639721043 EDGEWOOD32.5$969,900$975,000101%$51621,8901890410 SOUTH RD32.5$1,050,000$1,000,00095%$532211,88071682601 C... 07/29/2007

Drew & Christine Morgan     Belmont Market Update      APRIL  2007                    "Helping People Make Good Decisions"sm                ADDRESSBEDSBATHSLIST PRICESALE PRICERECEIVED$/Sq.Ft.DOMSQ.FT.LOT1120 ACADEMY21$819,000$845,000103%$837131,0105830814 HILLER31$829,000$840,000101%$808131,04064553306 PLATEAU32$849,000$952,000112%$54491,75075482641 PRINDLE32.5$849,000$879,000104%$458221,92055001812 MEZES21$849,000$850,000100%$85021,000100002046 MEZES31.5$849,950$850,000100%$65991,29063811716 TERRACE32.5$869,500$989,000114%$544201,8191160032 ARROYO VW32.5$879,000$961,000109%$663121,45019682030 LYON32.5$889,000$900,000101%$573191,5704000192 OXFORD32$895,888$885,00099%$536311,6505000608 HILLER42$898,000$898,000100%$463141,940679815 CAMINO42$899,000$1,015,000113%$495102,05079201006 MUIR W... 07/29/2007

Drew & Christine Morgan     Belmont Market Update      March 2007                    "Helping People Make Good Decisions"sm                    ADDRESSBEDSBATHSLIST PRICESALE PRICERECEIVED$/SQ.FT.DOMSq. Ft.LOT1525 RIDGE RD21$739,500$780,000105%$60951,2805502514 MARINE VIEW31$749,000$737,00098%$7301341,01050001924 ARBOR AV31$775,000$785,000101%$68971,14052501008 NORTH RD22.5$799,000$700,00088%$59821,17032401141 BROADWAY32$825,000$865,000105%$63181,37050001307 NOTRE DAME31$828,000$906,000109%$725131,25057002007 LYON AV32$829,000$840,000101%$549121,53030001374 SUNNYSLOPE21.5$829,000$834,000101%$68471,22050002002 NOTRE DAME31$848,888$875,555103%$84281,04036003908 CHRISTIAN32$868,800$905,000104%$72481,25059682003 LYON AV32.5$899,950$896,000100%$512941,75030002118 LYON AV42$899,999$910,000101%... 07/29/2007

Drew & Christine Morgan     Belmont Market Update      February 2007                    "Helping People Make Good Decisions"sm                 ADDRESSBEDSBATHSLIST PRICESALE PRICERECEIVED$/SQ. FT.DOMSQ. FT.LOT1222 NORTH RD21$649,000$630,00097%$64313498053572400 PALMER31$840,000$850,000101%$7088120060001547 WINDING33$899,000$850,00095%$46246184046501650 BELBURN32$899,000$870,00097%$74480117060504009 MARSTEN32$845,000$877,500104%$54210162062402517 CARMELITA43$899,000$899,000100%$50819177059001516 WILLIAMS32$998,000$900,00090%$419140215050001449 SIXTH43$939,000$920,00098%$436112110500013 PARKRIDGE32$939,000$932,50099%$55213169047003323 PLATEAU32$859,000$960,000112%$6404150061501919 BAYVIEW32$899,000$973,000108%$5865166040002617 CARLMONT33$1,149,000$1,075,00094%$5225620608082204 LYNDHURST32... 07/29/2007

Drew & Christine Morgan     Belmont Market Update      JANUARY 2007                    "Helping People Make Good Decisions"sm                ADDRESSBEDSBATHSLIST PRICESALE PRICERECEIVEDDOMSQ.FT.LOT1224 NORTH RD21$645,000 $625,000 97%7698059191499 FIFTH AV22$659,000 $665,000 101%5011604499503 MARINE VIEW 21$699,950 $695,000 99%41101055001221 FURLONG31$699,750 $735,000 105%82109049682813 NEWLANDS21$799,000 $745,000 93%5911205450418 YORKSHIRE31$768,000 $780,000 102%151010500037 ARROYO VIEW32$855,000 $855,000 100%55142022951342 PALOMA AV32$830,000 $860,000 104%22170052502715 BARCLAY32$869,950 $870,000 100%44180057001600 FAIRWAY 32$850,000 $880,000 104%20146072004216 SKYMONT32$935,000 $950,000 102%9146084003304 PLATEAU DR32$1,089,000 $1,045,000 96%01450130002105 ARTHUR AV53$1,099,999 $1,100,... 07/29/2007

Is Timing Really Everything?By now you've no doubt been deluged with stories about the real estate bubble bursting. Whether or not a bubble even exists is a matter of great debate among economists and if in fact it's bursting is even more hotly contested. All of this is somewhat newsworthy, but the fervor with which it is reported and the "spin" which is applied to each piece can affect what potential buyers and sellers do. After all, the mere mention of a "bubble" after the "dot com" era is enough to give any investor jitters.Is the media fairly reporting what is happening in our local real estate market or are they actually influencing it by their commentary? Currently a local news radio piece is offering this insightful bit to entice you to tune in; "Is the real estate bubble burstin... 07/28/2007

Is Timing Really Everything?  By now you've no doubt been deluged with stories about the real estate bubble bursting. Whether or not a bubble even exists is a matter of great debate among economists and if in fact it's bursting is even more hotly contested. All of this is somewhat newsworthy, but the fervor with which it is reported and the "spin" which is applied to each piece can affect what potential buyers and sellers do. After all, the mere mention of a "bubble" after the "dot com" era is enough to give any investor jitters.Is the media fairly reporting what is happening in our local real estate market or are they actually influencing it by their commentary? Currently a local news radio piece is offering this insightful bit to entice you to tune in; "Is the real estate bubble burst... 07/28/2007

WHAT'S IN STORE FOR 2007-A MARKET LOOK Welcome to 2007! What's in store for our local housing market is always a great topic for conversation, and the holidays offered us ample opportunity to respond to questions about the housing market. Looking back, the 2006 housing market finally took a breath and relaxed into a more normal, and we feel, sustainable market-locally. Many parts of the country which saw rampant speculation were not as lucky. Areas in Florida and Arizona- and in California, San Diego and the Central Valley for example, which in recent years have seen staggering appreciation at unsustainable levels-were harder hit. Specifically areas with vast open space for expansion saw feverish new development attempting to keep pace with the seemingly endless supply of buyers. As int... 07/28/2007

According to the San Mateo Daily News http://www.sanmateodailynews.com/article/2007-7-13-0713-smc-housing  San Mateo, Redwood City and Unincorporated San Mateo agreed to help relieve the required new housing for Belmont, Millbrae and Colma. Redwood City's new downtown and San Mateo's Bay Meadows projects help to tweak the allotment and to share the burden of the required affordable housing. Other small cities are asking for the same consideration.  It is good to hear that our cities are looking out for one another.   07/14/2007