There is a new condo for sale at the 400 Davey Glen Road complex in Belmont. Priced at $ 321,900 with a remodeled kitchen, this unit is a great opportunity for first time home buyers. These condos with comparable up-grades sold last year for $ 400,000. Only two one-bedroom condos have sold at Davey Glen all year. Several units have been pulled off the market and probably have been rented. All units have a balcony and an assigned parking space in the underground garage. Unfortunately pets are not allowed here and laundry rooms are only located on every other floor. 

Home buyers who want to live in a high scoring school district in San Mateo county still have to compete with other buyers when they write an offer. Especially the $ 800,000 – $ 900,000 price range is very competitive. Despite the financial turmoil we hear about daily, there are apparently lots of buyers who can obtain a loan, or should we assume that everybody is paying cash these days? Since last week I have seen a house in Belmont draw 7 offers and a house in San Mateo’s Baywood school district attracted at least 6 offers. Homes in Burlingame have sold in 2 days ( 1520 Ralston Ave asking price $ 1,495,000) and 5 days ( 341 Dwight Rd asking price $ 1,499,000). Properties that are priced to market and show well still attract multiple offers and buyers are willing to write an offer without hesitation.

Whether you are searching for a rental unit, an Independent Living or an Assisted Living Community in San Mateo County, here are 8 senior communities that are worth investigating. Schedule an appointment for lunch/tour and meet the staff and residents. Please let me know if you would like me to come along for a visit! 

• Fountain Glen, San Mateo  www.fountainglen.com
• Leslie Senior Communities, Half Moon Bay
• www.leslieseniorcommunities.org
• Magnolia of Millbrae, Millbrae www.themagnolia.com
• Sunrise Senior Living, Belmont www.sunriseseniorliving.com
• The Peninsula Regent, San Mateo www.peninsularegent.com
• The Stratford, San Mateo www.thestratford.com
• Versailles Luxury Condominiums, San Mateo www.versailleslife.com
• Woodside Terrace, Redwood City www.aboutwoodsideterrace.com

The Belmont Real Estate market has definetly moved from a balanced market to a buyers’ market. Currently there are 58 single family homes for sale in Belmont. As per the graph, on April 30th, 2008 we saw 56 active listings with an average DOM of 44 (days on market). This compared to April of 2007 when 32 houses were listed and stayed on the market only for 15 days. The condo market trend looks grim in comparison. 8 condos are for sale right now but their DOM is 102! What sells right now are price, up-grades and fantastic views. The eight condos which have sold since January 1, 2008 must have had the right formula. 

Threshold 2008 is a nonprofit community effort committed to increasing the understanding of housing issues in San Mateo County and to making the process of developing housing policies and solutions more inclusive. For residents who do not have time to attend planning commission and city council meetings this web-based forum provides an opportunity to voice your opinion and to ask questions. Experts on housing and related issues are available on line from May 5-16, 2008. For more information and registration visit: www.threshold2008.org

Most people who like to hike and bike have to get into their car and drive to the trails. But if you live in Belmont, the trails could be as close as stepping outside of your front door. There are 10 miles of hiking trails within the city of Belmont Open Space Area. The Hallmark neighborhood in Belmont is one of those neighborhoods where you can put on your hiking boots and walk from your home to the trails. Start at the entrance of Hallmark Drive and take the trail that leads to Water Dog Lake.  Hikers and bicyclists are welcome and yes you can bring your dog. The Hallmark area has so much to offer besides hiking trails. Wide streets make this a neighborhood where parking is no problem. Most properties have lots larger than 5000sq ft  and some have one level floor plans. Currently there are 4 homes available. Prices range from $ 1,189,000 to $ 1,550,000. Fox Elementary School is just down the street and Hwy 92 and 280 are close by.

Map courtesy of the City of Belmont website