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Belmont, CA Real Estate News

By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Belmont home sales for single family residences in May of 2012 reflect our intuitive observations about our local market. You might still hearing disheartening stories of the depressed housing market and certainly many areas of the country are still feeling the pain associated with the downturn. However like, the weather, real estate is very local and what goes on in one part of the country can have no bearing on another. SALES Belmont’s housing market is robust this year after a five year downturn. Inventory remains tight. Compare last year’s inventory in May of 2011 at 48 to May of 2012 when Belmont’s jousting inventory was only 42. Doesn’t seem like a big difference does it? But if you look at the 26 homes sold in Belmont this year and compare that to the 15 homes sales last year, yo...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
What was the profile of the average home that sold in Belmont last year?     The average home which sold had three bedrooms, two baths was 1,925 square feet in size and was located on a 6,430 square foot lot It sold for $879,450 in 44 days BELMONT STATISTICS for 2011   There were 186 single family home sales in 2011 The average time a home was on the market before the seller received an offer was 44 days 32% of Belmont homes sold over the asking price in just 19 days 11% sold at the seller’s asking price in 29 days 57% sold under the asking price and took 60 days to do so 103% was the percent of the asking price the sellers received who sold their homes in 19 days 96% was the percent of asking the sellers whose homes were overpriced received in 60 days It becomes abundantly clear that ...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
  Belmont Home Prices Decline Further We’re only one month into 2011 and already things are interesting. Belmont home sales in January 2011 remained brisk. There were twelve homes which closed escrow in January, one more than last year but eight more than in 2009. It appears a small trend has developed indicating January 2009, as suspected, was the low point for real estate. But we aren’t out of the woods yet. Depending on who’s talking to you—a glass half full or half empty person—we’re either headed into a slow recovery or its lull in the action before a double dip. Never mind the glass is completely empty person—they’ll always be waiting for the “right time” to buy a home yet never do. The definition of a double dip is when things get worse than they were at the trough of a business ...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Excitement abounds as the 2013 home buying season is in full swing. Never before have we seen so many eager buyers with smiling faces beating a path towards home ownership. Today’s agent tour delivered several fine new additions to the inventory including this shiny penny of a home on Judson Street in Belmont. Listed for only $649,000, this finely appointed home has three generous bedrooms, a wonderful kitchen, it’s ready for you to move right in. And let’s not forget the backyard where friends and family can frolic in Belmont's fresh air. If you are looking for the ideal home call Drew & Christine Morgan today for information on the best of Belmont and the Peninsula!
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By Marcy Moyer, Probate, Trust, and Investment Specialist
(eXp Realty of California Silicon Valley Probate, Trust, and Investment Sales)
It's the end of the year so time for the round-up of distressed property sales in Belmont. So here's what happened:   Single family and condo townhomes : Total sales:  204 Short Sales: 19 REO:           12 Distressed sales as a percentage of total sales: 15.2% Compare to 2010 Total sales:   235 Short Sales:   19 REO:            21 Distressed sales as a percentage of total sales:  17%   My conclusion: The percentage of distressed properties in Belmont is a little lower in 2011, 15.2% as compared to 2010, 17%. However, at this point the percentage is still low enough not to have a major effect on property values. If you have any questions about short sales or bank owned homes please feel free to contact me. Marcy Moyer Keller Williams Realty www.marcymoyer.com marcy@marcymoyer.com 650-619...
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By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
2209 Cipriani in Belmont CA closed escrow yesterday For the last 28 years, 2209 Cipriani has been lived in and enjoyed by the same family. They held their wedding reception there, shared their home and many holidays with family and friends, held cooking classes in the spacious kitchen, and always enjoyed the gorgeous view and serenity it brought. Now they are excitedly embarking on the next chapter of their lives, and have found a house they already love--and it's on one level, right for them at this time. On Labor Day, the sellers met with the buyers, and showed them around the house, explained how various things worked, shared the little 'secret' places which make a house unique. They like the buyers immensely, and the buyers' obvious enthrallment with the house which helps the seller...
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By Lottie Kendall, Helping make your real estate dreams a reality
(Compass)
What's the market like in Belmont CA 94002?With the Labor Day weekend behind us, kids back in school, vacations winding down I'm often asked about the real estate market, and whether or not houses are selling. Today, we'll take a look in Belmont California where there are: 45 active listings, priced between $479,000 and $1,995,000 24 pending sales, priced between $449,950 and $1,860,000 10 homes that have closed escrow since July 15 One of those pending sales, at 2209 Cipriani, is ready to close escrow today, if the County can accommodate a special recording, otherwise we need to wait until Monday. Not only will an excited new buyer be moving into 2209 Cipriani, I'm showing 2 Belmont properties to buyers tomorrow. I'm working with 3 other buyers, all looking on the mid-Peninsula or Sili...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
      The media helps keep us informed about the world we live in. They tell us what is going on globally, what our government is up to and on a local level what the weather might be like (even though they bat just over 500 on that one), and they can even tell us the best route home when there’s traffic. We trust the media to give us accurate information and they have a duty to ensure that it is. But what about the stories they just choose not to report? Let’s face it. Bad news sells and the media know it. They also know that sensational news sells and can afford to devote little space or time to reporting “feel good” stories.  In the real estate industry we are keenly aware of how the media focus on certain issues while choosing not to report others. And when they do report sensational...
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By Drew & Christine Morgan, Belmont California Real Estate
(RE/MAX Star Properties)
Belmont Home Sales for May 2011 Belmont home prices slipped back a bit in the month of May 2011 while sales continued to be less than impressive. Home sales in Belmont were down considerably from May of 2010 and for good reason—home sales last May were buoyed by the last minute deadline for the $8,000 tax credit which lifted sales across the nation. Our sales analysis for May of 2010 addressed the temporary nature of the uptick in homes sales for the month of May 2010.