My favorite house on broker’s tour yesterday was a lovely up-dated home in the Easton Addition in Burlingame.

1328 Columbus Ave in Burlingame where traditional meets contemporary, is a must see if you are looking for some modern touches but don’t won’t to give up the charm of a traditional home.This 4 bedroom/3bath house with 2450sqft of living space is priced attractively for $ 1,659,000. Listed by Alisa Ruiz-Johnson/Cashin 650.740.3218

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One of the largest Eichler developments were built in the San Mateo Highlands. These contemporary homes were constructed between 1956 – 64. Joseph Eichler revolutionized the standard 3 bedroom home by adding a second bathroom to every home he built. If you like lots of natural light and one level living, you should consider an Eichler. There is a 3 bedroom/1590 sqft Eichler at 1719 Monticello Rd, San Mateo for sale for under $ 900,000. Listed for $ 898,000 by Glenn Sennett/Coldwell Banker 650.208.7355.The home has a remodeled open kitchen. Highlands Elementary School and the Recreation Center are in walking distance. Additional Eichlers for sale are located at 1784 Lexington Ave and 1524 Tarrytown Street.

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The city of Burlingame will be directly affected by the High Speed Rail plans. The project which was approved by voters in 2008,  will have significant impacts on Peninsula communities. The High Speed Rail service construction is scheduled to begin in 2010 and will connect San Francisco and Los Angeles. Tracks will run along the Peninsula Corridor. Burlingame residents love their train station which was built at the end of the nineteenth century and recently received a face lift. How will our station look with an elevated track behind it?The city of Burlingame has asked for an underground solution. But less expensive plans call for an elevated track and sound walls. Burlingame residents are concerned. The High Speed Rail tracks will affect the value of Burlingame Real Estate in general, not just Burlingame neighborhoods close to the tracks.
Next Public High Speed Rail Meeting 5/12/2010 @ 6PM, Burlingame Recreation Center, 850 Burlingame Ave
More information about this subject:
City of Burlingame www.burlingame.org
California High Speed Rail Authority www.cahighspeedrail.ca.gov/


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There used to be a 4 bedroom/2bath home here with 1850sqft of living space that was built in the twenties. It was sold in July 2009 for lot value of $ 995,000. Located at 1441 Balboa Ave in Burlingame  this is just one example of how our neighborhoods are changing. Other construction sites that I have noticed just walking around the Easton Addition in Burlingame are located on these streets: 1100 block of Cortez Ave, 1400 block of Benito Ave, 1300 block of Columbus Ave…..I am sure there are more. If these are spec homes, they will be offered anywhere from $ 2,2 to $2.7 million in the very near future.

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The C.A.R. (California Association of Realtors) predicts that the California Tax Credit of $ 10,000 for First Time Home Buyers might run out within 10 – 20 days. This is based on estimated May sales. However many first time home buyers have extended their closing date into May to take advantage of the $ 8000 Federal Credit and the California Credit. This might deplete the $ 100 million allocated for first time home buyers even faster. Applications can not be filed before May 1, 2010 with the Franchise Tax Board and require that escrow has closed. $ 100 million have been set aside for this program. An additional $ 100 million have been allocated for qualified principal residence purchases that have never been occupied.
For complete details click here:

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If you have recently traveled by bike or car on Crystal Springs Rd or Polhemus Rd  in San Mateo, you probably have seen the construction site of the Crystal Springs Bypass Tunnel.The new tunnel will ensure that future generations will enjoy the beautiful water from the Sierra that we on the Peninsula have taken for granted. Hetch Hetchy drinking water is the Best!
Scheduled to be completed in the fall of 2011.
For more information on the project click here

 

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These numbers are only for single family homes listed and sold in Burlingame.
I will post these numbers every Monday to show the trend of Burlingame Real Estate.
The absorption rate is 3.4 months. This means that it will take 3.4 months to sell the current inventory.

As of April 12, 2010
64 Homes for sale
31 Homes pending
19 Homes sold last month

16 new listings week of April 5 -12, 2010
5 pending sales week of April 5-12, 2010

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1515 Hillside Dr, Burlingame
Short Sale
Days on market: 159
5 bed/3 full bath
2300sqft/lot 6000sf
$ 1,195,000
Listing agent: Liz Tabet/Alain Pinel Realtors

 

 

 

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Requirements for the one time only tax base transfer for Proposition 90 are:
Homeowner/spouse must be 55 or older
Replacement residence must be equal, or less than residence sold
Replacement property must be purchased, within two years after the sale of original property

San Mateo, Santa Clara and Alameda County are the only counties in the Bay Area that have adopted the Prop.90 ordinance. For complete information on the inter-county tax transfer please contact the respective assessor’s office:
Alameda 510.272.3787
San Mateo 650.363.4500
Santa Clara 408.299.2401

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Belmont Real Estate Market Trends

                                                                                                                1904 Notre Dame Ave in Belmont sold with 5 offers.
Asking price $ 799,000,
3bedrooms/2bath,1390sqft
Days on market: 8
Listed by Haifa Khoury
haifa@haifakhoury.com

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