Bring It On

Now we’re really going to see what’s shaking. Suddenly we have some single family house inventory in Foster City. We haven’t seen this in a while. Today there’s 14 single family houses on the market. Eight of them have come on in the last 6 days. This’ll be fun to watch. Interestingly, 10 of the 14 are over $1,000,000. The lowest priced house is an attached 2 bedroom place at Williams Landing and it’s listed for $829,000.

The real question now is, how much diminishment of the frenzy will occur with this influx of new inventory? Will houses just get one or two offers? Will folks wait for even more inventory? Who knows, but we’ll see. This phenomenon hasn’t really happened in our neighboring communities yet, in fact in Redwood Shores there’s still only 3 active single family houses and in San Carlos there’s 8. Why Foster City then? Who knows. What I do know is that following the market’s reception of this will be very interesting.

Slim Pickins 2

So, back on February 8 of this year I actually thought the inventory was light and waxed on about how amazing it was! There were 9 active single family listings that day and 17 condo/townhouses. I was shocked and said how I had never seen it that way before. Jeez, I wish we had that much inventory now! Well, in a way we sort of do…we have 11 single family houses today but only 5 condo/townhouses. I can’t believe that anybody could have possible predicted that we have have such light inventory going into the summer! February is one thing…but June? Inexplicable! Especially the condo/townhouses! Interestingly, there’s a few places that have come up that are worth watching just to get a feel for where the market is and where it’s going. These homes would appear right to me to get multiple offers and it’s going to be really interesting to see what happens to them next week.

516 St Vincent Lane in Antigua listed by Sue Dickey of Alain Pinel for $1,260,000. This is a very nice house in a great neighborhood and it’s location is wonderful. It’s a 2300 sq ft 4 bedroom, 3 bath place with a 3 car garage. An offer date for next Tuesday is set now…fun to watch!

509 Trinidad in Pitcairn listed by Cliff Wong of Coldwell Banker for $939,000. This is a 3 bedroom, 2.5 bath house in another great neighborhood. I actually sold this floorplan around the corner in 2010 for $960,000. $939,000 seems like a good price to me.

298 Avocet listed by Debbie Wilhelm of Coldwell Banker for $938,000. This is a 5 bedroom, 2 bath house in 2010 sq ft on a large 8700 sq ft lot. Again, a good house in a slim pickens market. Offers next week…we’ll see.

Somewhat Confusing

 

 

Every week I have a number of clients that anxiously await the arrival of new listings on the market. That’s especially true so far in 2012 with the inventory being so amazingly low. Folks flock to open houses on new listings and multiple offer feeding frenzies occur quite frequently now a days. Sometimes places are in fantastic shape and sometimes they aren’t yet most of these new offerings sell quickly, and lately over the asking price. Yet, there’s still those homes that just sit there…and some sit there some more! What about those places? Why don’t they sell and are there opportunities for buyers there?

The market is so very focused on the first 2 weeks of a listing. If a seller is going to get multiple offers is almost a certainty that it’s going to happen in the first 10 to 14 days of a listing. Buyers rush out to see the new listings and if they aren’t struck by the place immediately they move on to something else. When I look at the MLS I see some homes that are just sitting there, and it seems like they’re never going to sell and I can’t help but winder why? Often the answer to that comes quickly…the price is too high (often WAY too high), the project it’s in is a disaster, it’s a short sale and buyers have backed out because the bank can’t get it’s act together and approve (or even look at the file) the loan. Sometimes the place has a difficult structural problem or a significant location challenge and sometimes the home just shows incredibly poorly.

In Foster City right now, there are 10 homes out of the 21 total listings in both single family and condo/townhouses that have been on the market for more that 21 days. 3 of them have been on for over 175 days. Most of them, to me, have understandable explanations. Still, it’s an interesting thing that folks will offer significant dollars over the asking price but not offer under asking on some of these places. Of course, it would certainly be a concern to me that my investment couldn’t sell in a market like this. The big question would be…why isn’t it selling and could I resolve the issue that keeps it from selling and improve my prospects for appreciation going forward. In many of these cases the answer is no or tentatively maybe. That doesn’t really encourage folks does it?

Condo/Townhouse Inventory-September

 

Street Address Orig List Price List Price DOM Status Beds Baths (F|P) Bldg SqFt
740 PROMONTORY PT #3303 1080000   47 A 2 2|1 2224
712 ZUMWALT LN 799000   1 A 4 2|1 1880
847 COLUMBA LN 739000   256 A 3 2|1 1546
720 PROMONTORY PT #2302 730000   13 A 2 2|1 2224
1459 MARLIN AV 715000 718888 15 P 4 2|1 1760
857 CANIS LN 688000 669000 188 A 3 2|1 1546
655 LIBRA LN 688000 668000 10 P 4 2|1 1700
32 BINNACLE LN 639999   8 A 2 2|1 1730
985 MARQUETTE LN 639800   8 A 3 2|1 1640
809 CORTEZ LN 675000 638888 111 P 3 2|1 1640
1052 HULL LN 658000 638000 60 A 2 2|1 1580
728 CELESTIAL LN 635000   11 P 3 2|1 1430
42 COMMONS LN 615000   88 A 2 2|1 1530
212 VILLAGE LN 625600 599900 146 P 2 2|1 1370
1104 OUTRIGGER LN 599000   25 A 2 2|0 1240
1007 EMERALD BAY LN 599000   42 P 2 2|1 1530
1103 EMERALD BAY LN 618000   152 A 2 2|1 1530
26 E COURT LN 598000   31 P 2 2|1 1530
880 CARINA LN 589000   32 A 2 2|1 1546
914 LIDO LN 584900   12 A 2 2|0 1270
127 E COURT LN 574950   19 A 2 2|0 1230
764 COMET DR 599000   118 A 2 1|1 980
159 ALBACORE LN 635000 560000 185 P 3 2|1 1370
861 BALBOA LN 620000 545000 558 A 2 2|0 1270
608 PORTOFINO LN 525000   8 A 2 2|0 1490
1035 LIDO LN 520000   35 P 2 2|0 1395
891 BALBOA LN 528888 498888 32 P 2 2|0 1490
837 1/2 JUNO LN 575000 498800 109 A 2 1|1 1196
1171 COMPASS LN #311 495000   48 A 2 2|0 1349
1549 BEACH PARK BL 485000   10 A 2 1|1 960
850 BALBOA LN 618888 478888 124 A 2 2|0 1270
779 FOSTER CITY BL 499000 475000 184 A 2 1|1 980
818 BALBOA LN 549999 450000 103 A 2 2|1 1780
273 BONITA LN 449000   32 P 2 2|0 1050
1061 BEACH PARK BL #310 422000   14 P 2 2|0 1349
661 PORTOFINO LN 512400 410000 132 A 2 2|0 1395
1131 COMPASS LN #203 435000 410000 117 A 2 2|0 1286
1061 BEACH PARK BL #215 399950   14 A 2 2|0 1349
139 ALBACORE LN 399888   10 P 2 2|0 1050
1025 SHELL BL #12 389000   30 P 2 2|0 1042
1170 FOSTER CITY BL #206 399900 384900 172 P 2 2|0 1286
1017 SHELL BL #6 379000   22 P 2 2|0 994
1057 SHELL BL #9 398888 369000 94 A 2 2|0 1015
1051 BEACH PARK BL #304 350000   101 P 1 1|0 990
1025 SHELL BL #6 365000 335000 36 P 2 2|0 1042
6216 ADMIRALTY LN 328000   52 P 2 1|1 998
780 SEA SPRAY LN #304 450000 325000 509 A 1 1|0 941
5208 ADMIRALTY LN 319000   26 A 2 1|1 998
169 Albacore 375000 315000 89 P 1 1|0 724
5218 ADMIRALTY LN 290000   7 P 2 1|1 998
8106 ADMIRALTY LN 284000   76 A 1 1|0 748
3209 ADMIRALTY LN 299100 278600 118 P 2 1|1 998
900 BEACH PARK BL #150 275000   32 P 1 1|0 810
1049 SHELL BL #7 275000 254771 99 P 1 1|0 760
902 BEACH PARK BL #135 250000   55 A 1 1|0 810
5106 ADMIRALTY LN #5106 240000 225000 150 P 1 1|0 748
5107 ADMIRALTY LN 218888   8 P 1 1|0 748
3103 ADMIRALTY LN 188500   18 P 1 1|0 748

 

It’s actually better now than in May. Today, we have 30 active condo/townhouses on the maket with 28 pending sales. In May there was 38 actives and 25 pendings. I hope that’s a trend. High HOA dues are still a problem and are clearly effecting sales on units in those projects. Here’s some new and interesting listings:

712 Zumwalt Ln listed by Sheryl Fleming of Alain Pinel for $799,000. This gorgeous Harborside waterfront unit has 4 bedrooms, 2.5 baths and is a large 1880 sq ft. It’s a really terrific place and it’ll be interesting to see if it can get this price. It’s probably worth it!

985 Marquette listed by Monica Yeung Arima of Coldwell Banker for $639,800. This is a large 3 bedroom, 2.5 bath place in 1640 sq ft at Winston Square. Nice and clean.

880 Carina listed by me for $589,000. Of course I like it! It’s also a really terrific townhouse that shows wonderfully. It’s a large 1540 sq ft 2 bedroom, 2.5 bath place that’s nicely redone and is in great shape. Unlike lots of other projects Isle Cove offers all exterior maintanence, pools, clubhouse, waterfronts, water, garbage and earthquake insurance.

Single Family Inventory-September

Street Address List Price Orig List Price DOM Status Beds Baths (F|P) Bldg SqFt
945 LURLINE DR 1488001   29 p 5 2|1 2900
609 ANACAPA LN 1448000   6 P 4 3|0 2710
525 NOTTINGHAM LN 1390000 1428000 64 A 4 2|1 2700
730 TENDER LN 1380000   14 p 5 3|0 2710
54 PLEASANT CT 1288888   9 P 5 3|0 2690
827 GRENADA LN 1279900   40 P 3 2|1 2400
908 CORSAIR LN 1250000   63 P 4 3|0 3170
710 SAN MIGUEL LN 1198000 1249000 72 A 3 2|1 2240
602 ANACAPA LN 1197888 1275000 69 A 3 2|1 2300
321 MAINSAIL CT 1189811   25 A 4 3|0 2916
820 GRENADA LN 1188000   19 A 4 2|1 2530
711 BAFFIN ST 1175000 1220000 75 A 5 3|0 2250
680 SANDY HOOK CT 1149411 1249421 39 A 5 2|1 2680
1130 FLYING FISH ST 1149000   13 p 4 3|0 2430
608 BRIDGEPORT LN 1118000   8 p 3 2|1 1790
1407 MELBOURNE ST 1099000 1150000 57 A 4 2|1 2070
503 DRAKE CT 1098888   12 A 4 2|1 2210
151 SHOOTING STAR IS 1095000 1249000 117 P 4 3|0 2760
1090 HATTERAS CT 1025000 1180000 129 P 4 3|0 2480
1109 BLYTHE ST 999000 1060000 93 A 3 2|0 2030
805 GRENADA LN 999000 1499000 50 A 5 2|1 2550
138 PORT ROYAL AV 998000 1038800 209 A 4 2|0 1950
372 SHAD CT 969000   11 A 4 2|0 1900
961 PIZARRO LN 968888 1049000 259 A 3 2|0 2110
1142 HALSEY BL 968000   55 A 4 2|0 1810
131 KETCH CT 949000   134 A 4 2|0 1780
490 PORT ROYAL AV 949000 990000 43 P 5 3|0 2880
101 ELIZA CT 935000 985000 92 A 4 2|0 1670
675 HARVESTER DR 929888 979888 68 A 4 3|0 2160
20 LYME LN 899000 1148000 275 P 3 2|1 2240
1033 SANDERLING ST 879888 899888 141 A 4 2|0 1760
341 GRUNION CT 868888 880000 57 A 3 2|0 1860
717 NIANTIC DR 868000   46 A 3 2|0 1640
251 PUFFIN CT 859000   15 P 4 3|0 2450
320 WINCHESTER CT 858000 888000 74 A 4 2|0 1470
972 DE SOTO LN 850000   9 p 4 3|0 2360
506 GIBRALTAR LN 849000   11 A 3 2|0 1620
230 BARKENTINE ST 848000 888000 71 A 3 2|0 2030
221 FORESAIL CT 840000 870000 68 p 4 2|0 1820
362 CHESAPEAKE AV 838000   75 A 3 2|0 1380
758 NIANTIC DR 825000 975000 300 A 4 3|0 2240
786 MARLIN AV 810000 749000 137 A 3 2|0 1890
993 FLYING FISH ST 799000   10 A 3 2|0 1840
803 TAURUS DR 779000   57 A 3 2|0 1540
361 BOOTHBAY AV 775000   73 p 4 2|0 1440
1300 RIBBON ST 775000   9 P 4 2|1 2160
150 Flying Cloud IS 749900 869900 376 P 3 2|0 2210
1049 EGRET ST 700000   104 A 5 2|0 1930

 

In May, the last time I did this, there were 28 active Single Family Houses on the market and 18 pending sales and that seemed pretty good to me then. Oddly, today we have 30 active single family homes…and 18 pending sales. Hmm…not much has changed I guess. Interestingly, 7 of those houses have been on for at least 100 days, 2 of them for over 200 days and one has been on for 300 days. Average days on market in Foster City as houses go is 83 days. It’s certainly taking longer to sell a place this year that’s for sure.  I have to say, it sure is interesting and refreshing to see how many of the highest priced houses in town are now pending sale! That’s definitely worthy of note. Anyway, here’s a few places worth commenting on:

503 Drake listed by Rumana Jabeen of Coldwell Banker for $1,098,888. This is a really nice 4 bedroom, 2.5 bath house with 2210 sq ft in a great location near Edgewater Place. Nicely updated and I think the price is right too.

372 Shad listed by Mary Bee with Sothebys for $969,000. This floor plan has sold a few times in the last couple of months and this one is priced a bit higher than the others. It is in great shape that location on Shad Park is a plus. It’s a 1900 sq ft 4 bedroom, 2 bath house. I’ll be interested to see how they do here.

993 Flying Fish listed by Jessica Eva of Sothebys for $799,000. OK, it needs some work…but it’s $799,000. It’s a 3 bedroom, 2 bath 1840 sq ft house. The same floor plan is also for sale on Grunion for $868,000. We’ll see, huh?

Condo/Townhouse Inventory-May

Street Address List Price Orig List Price DOM Status Beds Baths (F|P) Bldg SqFt
616 AQUARIUS LN 785000 785000 4 A 4 2|1 1700
755 NEPTUNE LN 778000 778000 8 P 4 2|1 1700
706 PORTOFINO LN 749950 749950 54 P 3 2|1 2140
1022 HELM LN 749000 749000 61 A 3 2|1 1530
847 COLUMBA LN 739000 739000 105 A 3 2|1 1546
1459 MARLIN AV 718888 718888 90 A 4 2|1 1760
632 PORTOFINO LN 710000 710000 11 A 2 2|0 1490
1086 TILLER LN 699999 699999 189 P 3 2|1 1540
1000 STERN LN 699000 749889 45 A 3 2|1 1420
1012 STERN LN 699000 699000 43 A 3 2|1 1540
1120 NIMITZ LN 699000 699000 11 A 3 2|0 1350
857 CANIS LN 688000 688000 37 A 3 2|1 1546
962 DIAZ LN 679000 699000 95 A 3 2|1 1380
809 CORTEZ LN 675000 675000 13 P 3 2|1 1640
1133 NIMITZ LN 659000 659000 20 P 3 2|0 1350
1043 GALLEY LN 639500 699500 112 A 2 2|1 1440
753 NEPTUNE LN 639000 639000 57 P 3 2|1 1470
207 EMERALD BAY LN 629000 629000 19 A 2 2|1 1540
255 COMMONS LN 629000 629000 59 P 2 2|1 1410
700 Promontory Point LN #1209 628888 628888 132 P 3 2|1 2264
720 PROMONTORY POINT LN #2308 625000 659900 39 A 2 2|1 2224
825 PEARY LN 619999 619999 15 P 3 2|1 1340
1105 EMERALD BAY LN #42 619000 619000 35 A 2 2|1 1530
66 E COURT LN 589000 610000 77 P 2 2|1 1530
143 E COURT LN 560000 625000 356 A 2 2|1 1410
159 ALBACORE LN 560000 635000 154 P 3 2|1 1370
860 MERIDIAN BAY LN #329 550000 550000 48 A 2 2|0 1350
720 ARIES LN 550000 629000 56 P 3 2|0 1370
861 BALBOA LN 545000 620000 407 A 2 2|0 1270
878 URSA LN 545000 690000 334 P 3 2|1 1618
126 ALBACORE LN 540532 592250 104 P 2 2|1 1370
653 DRACO LN 535000 565000 143 P 2 1|1 1270
1235 MOONSAIL LN 530000 586000 195 A 2 1|1 1350
1045 HELM LN 529000 499000 233 A 2 2|0 1240
1202 ADMIRALTY LN 525000 525000 128 A 3 2|1 1505
1244 MOONSAIL LN 510000 550000 194 A 2 1|1 1350
170 ALBACORE LN 505000 505000 17 P 2 2|0 1050
779 FOSTER CITY BL 499000 499000 33 A 2 1|1 980
108 BONITA LN 499000 499000 29 P 2 2|0 967
860 MERIDIAN BAY LN #229 475000 500000 137 P 2 2|0 1350
860 MERIDIAN BAY LN #339 469950 469950 53 A 2 2|0 1245
880 MERIDIAN BAY LN #314 469000 469000 2 A 2 2|0 1245
1081 BEACH PARK BL #210 450000 450000 17 A 2 2|0 1286
1170 FOSTER CITY BL #206 430000 430000 22 A 2 2|0 1286
815 SEA SPRAY LN #112 428888 468000 112 A 2 2|0 1213
1061 BEACH PARK BL #206 399900 399900 59 P 2 2|0 1286
800 SEA SPRAY LN #210 389900 469900 202 A 2 2|0 1213
1091 SHELL BL #8 385000 385000 56 A 2 2|0 1042
1081 BEACH PARK BL #211 375000 375000 2 A 2 2|0 1349
780 SEA SPRAY LN #206 339000 359000 54 A 1 1|0 941
780 SEA SPRAY LN #304 325000 450000 358 A 1 1|0 941
169 Albacore 315000 375000 89 P 1 1|0 724
118 BONITA LN 310000 249995 98 A 1 1|0 760
8104 ADMIRALTY LN 299000 329000 423 A 1 1|0 748
5218 ADMIRALTY LN 290000 290000 7 P 2 1|1 998
5103 ADMIRALTY LN 279000 279000 298 P 1 1|0 748
1049 SHELL BL #7 275000 275000 29 A 1 1|0 760
1061 BEACH PARK BL #108 269900 295900 74 P 1 1|0 990
7108 ADMIRALTY LN 265000 299950 166 A 1 1|0 748
5106 ADMIRALTY LN #5106 218400 240000 11 P 1 1|0 748

 

38 active listings and 25 pending sales…again, not bad. Just like with single family, there’s plenty of places on the market for over 100 days. That includes a place at The Islands that’s been on since March of 2010. I guess $716.00 a month HOA dues will have that kind of effect on you. Still…places are selling. Here’s a couple of interesting newer ones:

1103 Emerald Bay listed by Barbara Slaton of Alain Pinel for $618,000. This is a really gorgeous place,dues are decent at $325.00 too. 2 master suites too. Worth a look.

1120 Nimitz listed by Bob Lahl of Sothebys for $699,000. Very nice one level unit at Harborside in nice condition. Also $325.00 a month dues.

Single Family Inventory May

Street Address List Price Orig List Price DOM Status Beds Baths (F|P) Bldg SqFt
1037 MONTEREY AV 1499000   50 A 4 2|1 2680
806 PROWSHEAD LN 1368000 1398000 44 P 5 3|0 2710
1093 HATTERAS CT 1299950 1399950 138 A 4 3|0 2660
1180 FLYING FISH ST 1299000   28 A 5 3|0 2690
940 CUMBERLAND CT 1298000   24 P 4 2|1 2653
602 BRIDGEPORT LN 1288000   119 A 3 2|1 1940
640 GREENWICH LN 1280000 1349000 28 A 3 2|1 2050
827 GRENADA LN 1279900   40 P 3 2|1 2400
541 TRINIDAD LN 1249000 1369000 74 A 4 3|0 2400
284 SHEARWATER IS 1228000   20 P 4 2|1 2380
717 BAFFIN ST 1228000   9 P 4 2|1 2700
912 ARUBA LN 1168000   7 P 3 2|1 2170
619 COMET DR 1129888   7 A 5 3|0 2540
527 TRINIDAD LN 1125000   1 A 2 2|1 2370
147 FLYING CLOUD IS 1099900   8 A 3 2|0 1880
1159 FLYING FISH ST 1099000 1149000 76 A 4 3|0 2250
480 PORT ROYAL AV 1095000 1200000 181 A 5 3|0 2690
790 POLARIS AV 1048000   14 P 4 3|0 2240
838 CHRYSOPOLIS DR 1040000 849000 75 P 6 4|1 3020
138 PORT ROYAL AV 1038800   58 A 4 2|0 1950
951 FLYING FISH ST 1029000 999000 6 A 4 3|0 2160
805 LURLINE DR 998888   107 P 5 2|1 2680
728 RANGER CI 998000   70 P 4 3|0 2400
908 GULL AV 998000   355 P 4 3|0 2360
120 YAWL CT 985000   19 A 4 2|0 1860
532 HANBURY LN 978888 1048000 43 A 4 2|1 1970
20 LYME LN 950000 1148000 145 A 3 2|1 2240
354 MULLET CT 950000   14 A 4 2|0 2210
240 TRYSAIL CT 928888   14 A 4 2|0 1900
651 CRANE AV 899000   104 A 4 2|1 2160
1019 PENSACOLA ST 898888   19 A 3 2|0 1720
698 TEAL ST 898000   45 A 4 2|1 2160
521 SAINT VINCENT LN 889000 975000 55 P 4 2|1 2070
758 NIANTIC DR 888000 975000 149 A 4 3|0 2240
779 GULL AV 875000 899999 139 P 4 2|0 1770
258 PUFFIN CT 855000   74 A 3 2|0 1840
300 MULLET CT 850000   3 P 3 2|0 1630
489 NANTUCKET ST 849000   19 P 4 2|0 1470
132 WILLIAMS LN 848000   49 A 3 2|1 1670
280 PELICAN CT 830000   9 A 3 2|0 1570
138 WILLIAMS LN 823000 889000 140 A 3 2|1 1670
809 GULL AV 815000 840000 78 A 3 2|0 1700
13 WILLIAMS LN 798000   22 A 3 2|1 1550
106 CHALLENGE CT 757050   7 P 4 2|0 1760
919 GULL AV 754000 749000 44 A 4 2|0 1930
150 Flying Cloud IS 749900 869900 376 P 3 2|0 2210
652 CELESTIAL LN 680000 730000 323 A 4 2|1 1700
61 WILLIAMS LN 645000   88 A 2 2|0 1240

 

28 active single famiy homes on the market today and 18 pending sales….354 Mullet went pending yesterday.  That’s a decent ratio and 28 is a 2011 high for active listings. At this time of the year I think we can expect more on the horizon too. For what it’s worth, I’ve never really considered Williams Landing to be single family (although the MLS does) because those units are attached and there’s HOA dues. Certainly 652 Celestial is a townhouse at Shell Cove too…why it’s in the MLS as single family is simply a mistake. It’s remarkable how many of these houses have been on the market for over 100 days. Particularly interesting since other houses have gotten multiple offers during the same time. It’s a funny market. Here’s a couple of new ones that caught my eye:

280 Pelican listed by Christy Long of Sothebys for $830,000. This is a pretty clean Eichler 3 bedroom and it’s in pretty good shape vs. alot of it’s competition in that price range. It’ll be interesting to see how it does.

619 Comet listed by Carmen Miranda of Alain Pinel for $1,089,888. This is a big, nice house on a good size lot and I think it’s priced well. It’ll be interesting to see if it’s location across the street from the Admiralty effects it’s sale. Worth a look.

Haves and Have Nots

We’ve reached that point in the marketplace where the available listings in Foster City, as far as single family houses go, are really a have and have not game. There’s plenty of active buyers out there, but the majority of active listings leave something to be desired. In fact, most of them have significant defects of one kind or another. right next to the 101 sound wall, the big high tention power line in the back yard, house is a mess, house is a mess and is in a terrible location. You get the picture…certainly you get it if you’ve been out there looking at homes lately!

Since this is the 2011 market and not the 2005 market, buyers are understandablyhesitant to jump at a house with some major flaws. Having said that, when a house comes up right now with all, or most, of the right ingredients it goes off like a rocket. Multiple offers insue and the price goes up. It really is a great situation of you’re the owner of a upgraded, gorgeous home. It’s also a great scenario if you’ve planned well, staged your home and it’s in perfect showing condition.

in the last week or so we’ve seen homes like that around here. First of all, the house at 312 Pompano came up listed at $1,179,888 by Carmen Miranda of Alain Pinel. It’s stunning…especially in comparison with like properties around here right now. It got 4 offers and went pending today. I can’t wait to see what it closes for. It will be higher than $1,179,888. Following that gem we then saw the house at 121 Spinnaker listed by Mary Ficklin of Alain Pinel for $998,000. Take a look at that link…$998,000! This same floor plan…in basic fixer upper form sold on Biscayne in October for $1,070,000. To put it mildly and with respect to hyperbole…121 Spinnaker might have been the best deal I’ve ever seen in Foster City. Needless to say…it didn’t last long. It went pending today as well. It’s safe to say it went over asking too.

All this to say that if your a buyer and you want a nicely, redone finished product…get ready to compete for it. A house that looks like these two is going to get multiple offers. At this point, an unfinished product in a good location without major flaws could get multiple offers as well. If your about to sell…plan well and don’t hesitate to spend a little getting the house in top showing condition. It’ll be worth it.

Condo Townhouse Inventory-November

Street Address List Price Orig List Price DOM Status Beds Baths (F|P) Bldg SqFt
720 PROMONTORY Pt LN #2305 855000   37 A 2 2|1 2224
878 ANDROMEDA LN 728000   35 A 3 2|1 1546
1459 MARLIN AV 725000 575000 70 A 4 2|1 1760
1040 HULL LN 725000   11 P 3 2|1 1540
770 GEMINI LN 719998 748000 80 A 4 2|1 1700
1086 TILLER LN 699999   48 A 3 2|1 1540
700 PROMONTORY Pt LN #1106 699000   19 P 2 2|1 2421
1016 Lido LN 697000 698000 77 A 3 2|1 2140
808 CORTEZ LN 690000   0 A 3 2|1 1640
1106 OUTRIGGER LN 675000   59 A 2 2|1 1580
301 CATAMARAN ST 675000   29 P 3 2|0 1580
880 URSA LN 649000 676000 109 A 3 2|1 1546
276 BONITA LN 644950 649950 28 P 3 2|1 1370
1068 TILLER LN 635000 679000 63 A 2 2|1 1440
669 BEACH PARK BL 635000   69 P 3 2|1 1340
159 ALBACORE LN 635000   9 A 3 2|1 1370
230 COMMONS LN 633000   49 P 2 2|0 1500
700 Promontory Pt LN #1209 628888   54 A 3 2|1 2264
212 VILLAGE LN 615000 618000 66 A 2 2|1 1370
705 FOSTER CITY BL 609000   95 A 2 2|1 1340
861 BALBOA LN 600000 620000 256 A 2 2|0 1270
143 E COURT LN 600000 625000 197 P 2 2|1 1410
871 ERICKSON LN 599888 639000 65 A 2 2|0 1260
821 PEARY LN 599000   69 P 3 2|1 1340
104 CITYHOMES LN 598900 599800 42 P 2 2|1 1410
217 COMMONS LN 592500 622000 71 P 2 2|1 1410
1061 BEACH PARK BL #312 579888   98 P 3 2|0 1593
1111 COMPASS LN #204 575000   137 A 3 2|0 1593
880 MERIDIAN BAY LN #309 569000 639000 250 P 3 2|0 1606
878 URSA LN 565000 690000 241 A 3 2|1 1618
303 EMERALD BAY LN 565000   34 P 2 2|1 1470
653 DRACO LN 565000 565000 3 A 2 1|1 1270
1235 MOONSAIL LN 552000 586000 44 A 2 1/1 1350  
1108 BALCLUTHA DR 549950 629000 62 A 2 2|1 1327
844 BALBOA LN 549000 599000 224 A 2 2|0 1490
665 PORTOFINO LN 540000 675000 166 P 3 2|1 2140
860 MERIDIAN BAY LN #134 539000   54 A 2 2|0 1350
1244 MOONSAIL LN 535000 550000 43 A 2 1|1 1350
1151 COMPASS LN #104 530000 550000 54 A 3 2|0 1593
800 SEA SPRAY LN #302 525000   86 A 3 2|0 1500
1045 HELM LN 499000   82 A 2 2|0 1240
108 BONITA LN 499000   29 P 2 2|0 967
860 MERIDIAN BAY LN #139 490000   31 A 2 2|0 1245
1151 COMPASS LN #201 489000   68 P 2 2|0 1286
860 MERIDIAN BAY LN #229 475000 500000 97 A 2 2|0 1350
273 BONITA LN 475000 510000 56 A 2 2|0 1050
1151 COMPASS LN #204 469900   19 A 3 2|0 1593
1170 FOSTER CITY BL #104 467000   22 P 2 2|0 1349
780 SEA SPRAY LN #304 450000   207 A 1 1|0 941
904 BEACH PARK BL #127 448800   8 P 2 2|0 1087
800 SEA SPRAY LN #210 429900 469900 51 A 2 2|0 1213
1025 SHELL BL #7 415000   14 A 2 2|0 1042
1017 SHELL BL #10 410000 429000 58 A 2 2|0 1042
918 BEACH PARK BL #54 405000 415000 73 A 2 2|0 1060
1191 COMPASS LN #108 399500 429500 88 P 2 2|0 1286
902 BEACH PARK BL #134 399000 408888 38 P 2 2|0 1060
1017 SHELL BL #6 349950 379950 59 P 2 2|0 994
8104 ADMIRALTY LN 329000   272 A 1 1|0 748
5102 ADMIRALTY LN 318800   174 P 1 1|0 748
7108 ADMIRALTY LN 299950   15 A 1 1|0 748
7211 ADMIRALTY LN 299000   10 P 2 1|1 998
5103 ADMIRALTY LN 279000 308000 181 A 1 1|0 748

Well, at least in this category things are a bit more normal. 38 active condo/townhouses and 22 pending sales. Not bad…but not what we saw on Tuesday. This category has been pretty slow for most of 2010 so it is encouraging that 14 of those pendings came in the last month. November was really a decent month.

Just like the single family homes…there’s plenty of listings that have been on the market for a long time. I’m honestly not really sure how these places will end up moving. Most likely via some significant price reductions…we’ll see? For what it’s worth, here’s a couple of fairly new listings that look pretty nice to me:

653 Draco Lane listed by Cookie Cala with Elite Properties for $565,000. This is a really cute 2 bedroom condo at Shell Cove that seems priced right to me. Staged well…it should sell.

1086 Tiller Lane listed by Mary Bee of Today/Sothebys for $699,999. It’s a 3 bedroom, 2.5 bath unit at Bayfront Court that’s really adorable. It’s certainly one of the nicest units in town in this range. Worth a look.

I’m betting on the new year to be pretty strong again…like it was earlier this year. Again…we’ll see?

Single Family Inventory November

Street Address List Price Orig List Price DOM Status Beds Baths (F|P) Bldg SqFt
248 THATCHER LN 1488888   28 P 4 2|1 3000
732 CORONADO LN 1375000   45 P 4 3|0 2456
284 SHEARWATER ISLE 1345431   45 A 4 2|1 2380
827 GRENADA LN 1279900   40 P 3 2|1 2400
805 LURLINE DR 1218000   57 A 5 2|1 2680
336 DOLPHIN IS 1199000 1298888 110 A 4 2|1 2660
529 TRINIDAD LN 1199000   30 P 4 3|0 2180
870 HADDOCK ST 1160000   123 A 4 4|0 2500
480 PORT ROYAL AV 1150000 1200000 30 A 5 3|0 2690
224 THATCHER LN 1149000 1190000 45 A 4 3|0 2370
1144 HALSEY BL 1099888 1138000 25 P 4 2|1 2490
136 FLYING MIST IS 1075000 1145000 87 A 4 2|0 2340
964 GULL AV 1075000   19 P 5 3|0 2540
908 GULL AV 1049000 1075000 207 A 4 3|0 2360
472 BISCAYNE AV 1039000   8 P 4 2|1 2620
728 RANGER CI 1028000 1058000 144 A 4 3|0 2400
501 SAINT VINCENT LN 1019950 1099000 74 P 4 2|1 2070
1112 HALSEY BL 928000   19 P 3 2|0 2030
779 GULL AV 899999   15 A 4 2|0 1770
1134 HALSEY BL 899000 935000 65 P 4 2|0 1810
854 CONSTITUTION DR 898800   15 P 3 2|0 1760
690 CRANE AV 890000   13 P 4 2|0 1630
258 PUFFIN CT 879000 939000 63 A 3 2|0 1840
930 SWAN ST 869500   2 P 5 2|0 2010
366 BLUEFISH CT 869000   19 A 4 2|0 1780
1134 POLYNESIA DR 868888   2 P 3 2|0 1640
410 BEACH PARK BL 849900   1 P 3 2|0 1630
605 PLYMOUTH LN 839000   19 P 3 2|1 1790
241 FORESAIL CT 828000   9 P 3 2|0 1540
291 CURLEW CT 799000 889000 93 P 5 2|0 2010
150 Flying Cloud IS 749900 869900 376 P 3 2|0 2210
652 CELESTIAL LN 699000 730000 172 A 4 2|1 1700
707 COMET DR 649000 724888 52 A 2 2|1 1770

I actually had to look at this twice and then go to the MLS to re verifiy this data. All the black listings above are the active ones! In reality there’s 12 of them as 336 Dolphin sold and 652 Celestial and 707 Comet are townhouses and are mislisted in the MLS as single family.  11 active listings! 20 pending sales! Honestly, it’s been along time since we had such little inventory and if it stays this way I predict that January is going to be a hot month. Multiple offer type of market.

Interestingly, many of these active listings have been on the market for a long time. It’s going to be a very interesting conclusion to 2010. October was a really slow time and November was certainly surprisingly active….that’s certainly born out with this chart above! Like I said…it’s going to be interesting!