The Emerald Hills Blog

Have you got your eye on a particular Emerald Hills home that’s for sale? Or have you narrowed your list down to a final few? Here’s a really good tip: Go out and see them again today…while it’s raining. No, I haven’t lost my mind (yet..) But you’ve already seen them when they’re dolled up and at their “best”; now, go see them at their worst.

Why? Because a good rainstorm like the one we’re having will expose weaknesses in a home that you might never see on a dry, sunny day. Important weaknesses….expensive weaknesses to fix.

Here are a few key things to look for when it’s pouring out:

• Drainage: This is a big one, and the most obvious, especially in the hilly parts of Emerald Hills. Is the water draining away from the property as it should, or is it pooling in low spots? Are the drainspouts clearing water away from the foundation? Are you getting unwanted drainage from your neighbor’s yard? Does the water flow down the driveway, or is it sneaking back into the garage? Does the house get standing water under the foundation?
• Erosion: Is the yard holding on, or can you watch it heading down the storm sewer?
• Integrity: Simply put, is the house water-tight? Are there any leaks in the roof or from the vents? Are the windows holding out the rain? Very important–> check the ground-level rooms to see if any moisture is finding its way in through sliding-glass doors, or up through the foundation. Many homes with high water tables will have problems with this.
• Odor: Even if nothing jumps out at you visually, trust your other senses. Nothing brings out the smell of mold and mildew quicker than exposing it to more moisture. If the house has that telltale smell, pay attention and find out where it’s coming from.

Homeowners are supposed to disclose problems like this when they’re selling their house, but don’t assume it always happens. Find this stuff out for yourself. A competent property inspector can see signs of water-related problems even when it’s not raining, but there’s nothing like seeing it for yourself. Fixing drainage problems and water damage can be very expensive, and it’s an issue you need to be fully aware of before you plunk down all that money.

You’ve seen your favorite home at it’s best..now go throw on your boots and raincoat and see how it holds up to a good whipping from Mother Nature.

For those of you new to Emerald Hills, or thinking of living in this great community, you should be aware of the Emerald Hills Homeowners Association (EHHA.)  People usually have strong opinions about HOA’s, either positive or negative, and the EHHA is no different.  Most recently they felt the glare of the spotlight regarding the controversial Design Review Committee,  and the decision to disarm this committee (click here for more my previous post on this subject –>  Design Review.)

Considering that other neighborhood HOA’s that I have seen consist of nothing more than a YahooGroup email distribution list, the EHHA seems to be a well organized body, has an very informative website:  EHHA Website

What is your opinion of the usefulness and necessity of an HOA in Emerald Hills?   Comment below!

Emerald Hills is hopping, in comparison to surrounding communities where the inventory of new listings is incredibly low. Five new listings hit the market this past week in Emerald Hills — here are the details. Click on address if you want additional information and photos:

New Listings:

• 140 Emerald Estates Ct: $3,295,000 — 5BR/4BA, 5,350 sq ft on a 22,137 square foot lot. MLS # 771763, offered by Dennis Thomas of San Mateo Real Estate.  This is the latest of the big, custom homes to hit the market on Emerald Estates Ct. I have featured several of these on this blog. This baby is BIG — stairs lead to everywhere in this home, and it’s very nicely appointed. It’s at the end of the cul-de-sac, so privacy is a big plus. You could not only entertain the CEO, but the entire company in this home.
• 1040 Wilmington Way : $1,349,00 — 3BR/2BA, 1,710 sq ft on a 8,750 square foot lot. MLS # 771785, offered by Keri Nicholas of Coldwell Banker.
• 3922 Jefferson Ave : $1,349,00 — 3BR/2BA, 1,800 sq ft on a 14,900 square foot lot.  MLS # 773030, offered by Gayle Pietras, RE/MAX Dolphin SM.
• 832 Occidental Way : $1,295,000 — 3BR/2BA, 1,960 sq ft on a 14,100 square foot lot. MLS # 772618, offered by Michelle Glaubert, Coldwell Banker.
• 2460 Park Rd : $1,151,900 — 3BR/2.5BA, 2,030 sq ft on a 5,000 square foot lot. MLS # 773160, offered by Armina Kalafian, Coldwell Banker.

Home Sales:

Quiet week — no homes closed escrow this past week in Emerald Hills. The title companies had an easy week

Until next week…

Recently, I posted the 2007 Sale Figures for Emerald Hills and was pleasantly surprised to see that not only had the median and average prices increased from 2006, but the number of Days on Market (DOM) averaged 30 days. Definitely indicative of a healthy market.

However, while I was running numbers recently for a client I discovered an alarming trend with respect to active listings in Emerald Hills. Here’s the summary:

• # of Active Listings: 29
• Average List Price: $1,657,338
• Average Days on Market: 57

For a summary of these 29 homes, click here —> Emerald Hills Active Listings

What’s going on? As you can see from the data, this isn’t one or two languishing listings that are pulling the average DOM figure up — 1/3 of these listings have been on the market for 90 days or more. The biggest culprit is tipping the scales at 170 days.

Clearly the cause here is unrealistic list prices. Buyers in the market for a $1.6M (or greater) home are usually not first-time buyers, so they can afford to be particular, and there are many nice options in this price range on the mid-peninsula.

Even more peculiar — of the listings that have been on the market for > 90 days, HALF of them have not reduced their original list price at all since the property was listed. What are we waiting for???? If a home hasn’t sold in 3 months without a price reduction, it’s time to rethink the strategy.

As I have said numerous times in this blog — homes that are prepared properly for sale and priced INTELLIGENTLY will sell. Those that aren’t won’t. The numbers from 2007 clearly show that.

Is there good news in this? Yes. The DOM figure for the remaining 2/3 of the active listings is sitting at 29 days, which is in line with last year’s numbers. But let’s keep a close eye on this going forward.

Your thoughts?

I was pleased to see this home back came back on the market this week. 54 W Summit Way is a 4BR/3BA, 2,759 square foot home that is listed at $1,998,000 by Sam Anagostou of Anagnostou Properties.

For the complete details on this home, click here:    54 West Summit Way

I featured this home as my “New Listing of the Week” a number of months ago when it was being listed by another agent at $2,249,000.  I liked it at that price…so you can guess that I REALLY like it at the new price.

This home quite simply has a lot of great things going for it.  It’s in a great location, on a nice street off the beaten path in Emerald Hills — not too far into the sticks, but just out of the way enough so that you’re not on a major traffic artery.    It sits on a nice 10,230 square foot lot which slopes slightly downhill, thus affording you some great views.  But it’s not too sloped that you couldn’t put a nice pool in the back yard.  Big plus…

But the real attraction is the home itself.   It’s all new construction, and it’s beautiful.  The layout is great, the kitchen/family room area is just how I would construct my own home.    The home has an elegant feel, but still retains the warmth and intimacy of a family home.    That’s a tough balance to strike, as some of the new custom homes almost feel sterile..  Not this one.

It’s a great home, it’s priced right, and it’s easy to show.  Check this one out before it’s gone…

The real estate market in Emerald Hills is officially underway! Sellers wasted little time getting a jump on the new year, as you will see below.

New Listings:

Eight new homes hit the market just this week. See below for the summary — click on the address for the complete details of each listing:

• 10 Danford Ct.: $2,695,000 — 4BR/4+ BA, 3,940 sq ft on a 15,290 sq ft. MLS #771009
• 398 Upland Rd.: $1,999,000 — 4BR /3BA, 3,240 sq ft on a 13,299 sq ft lot. MLS #771329
• 852 Vista Dr.: $1,775,000 — 4BR/3BA, 1,820 sq ft on a 8,470 sq ft lot. MLS # 771106
• 839 Mohican Way: $1,325,000 — 4BR/3BA, 2,550 sq ft on a 7,659. MLS # 771188
• 1759 Edgewood Rd.: $1,279,000 — 5BR/2 1/2 BA, 2,640 sq ft on a 15,200 sq ft lot. MLS # 771068
• 3567 Highland Ave: $1,239,000 — 4BR/2BA, 1,792 sq ft on a 7,192 sq ft lot. MLS # 770867
• 1204 Edgewood Rd.: $1,199,999 — 3BR/2 1/2BA, 2,300 sq ft, 8,750 sq ft lot. MLS # 771305
• 739 Canyon Rd.: $949,000 — 3BR/2BA, 1,580 sq ft on a 8,700 sq ft lot. MLS # 769109

Home Sales:

Three high-end homes sold in Emerald Hills this past week. The summary is below, and you can click on the address for more details:

• 100 Emerald Estates Ct.:  Sales Price:  $2,225,000.  Original List:  $2,495,000.  5BR/4+ BA, 3,510 sq ft.
• 951 Wilmington Way:  Sales Price:  $2,125,000.  Original List:  $2,279,000.  5BR/4+ BA, 3,762 sq ft.
• 1850 Cordilleras Rd.:  Sales Price:  $1,485,000.  Original List:  $1,489,000.  4BR/3.5BA, 2,570 sq ft.

If you have any questions on any of these homes, feel free to contact me.

OK, here’s another one that fits into the “Oh baby, I could live here” category. In a word, 10 Danford Court is E-L-E-G-A-N-T. For those not familiar with Danford Court, it’s a newly developed cul-de-sac in Emerald Hills that will be comprised of eight brand new luxury homes when all the construction is complete. This home is the sixth of eight, and is listed at $2,695,000 by John Shroyer of RE/MAX Today.

This is one nice house… It has 4BR and 4+BA nestled in 3,940 square feet of flat-out luxury. The layout is great, the kitchen is drop-dead gorgeous, and rest of the downstairs flows absolutely wonderfully. Upstairs, they smartly put the master bedroom suite on the bay side of the home, so you can take in the killer bay area views from there. And check out the tub in the master bath…party anyone?

The home sits on a very nicely landscaped 15,290 square foot lot, that is sloped in the back but still has lots of usable space. Are there any negatives to this place? Sure –for the price, it might be nice to have a 5th bedroom, and the home is the closest to Summit way…but all things considered, those are pretty minor.

Let me know if you’re interested in seeing this gem. I’d be happy to open it up for you. For all the details and additional pictures, click here —> 10 Danford Court

The real estate market in Redwood City finished in mixed form in 2007. Like most of the other communities on the mid-Peninsula, sales volumes (# of homes sold) took a hit in 2007. This is to be expected during an economic downturn like we’re seeing. What’s interesting is that the average sales price and median sales price for homes sold in Redwood City actually increased over similar figures for 2006. Here are the details:

• Total # of Homes Sold: 480 homes sold in 2007, which is a 17% decrease from 575 sold in 2006.
• Average Sales Price: $1,037,484 in 2007, which represents an increase of 7.7% over $963,185 in 2006.
• Median Sales Price: $895,175 in 2007, which is a 5% increase over $850,000 in 2007.
• Days on Market: 30 days in 2007, which is 11% longer than 27 days in 2006.

What does this mean? Values held their ground in 2007, despite the significant drop in sales volume and the challenging real estate market. The average price increased at a greater rate than the median price — this skewing of the data is likely caused by some high-end homes that sold in Emerald Hills and the Edgewood Park area. However, having both figures increase in a tough market is a very good sign of strength.

For home-owners, it was a good year since values stayed constant. For home buyers who were waiting on the side-lines for prices to drop…they didn’t. The lesson here is that nice homes that are priced right are still selling quickly (and very close to asking price) on the mid-Peninsula. I don’t see much that will change that trend in 2008.

If you’re interested in seeing the details on all of the 480 homes that sold in Redwood City in 2007, click here —> Redwood City Home Sales Figures for 2007

Happy New Year! 2007 certainly should have been a great year for anyone who sold a home in Emerald Hills. Like many of the communities on the mid-Peninsula, Emerald Hills bucked the trend in the face of all the negative news about the nationwide real estate market. While the number of homes sold remained flat, the average and median sales prices both increased in 2007! So much for the slump… Here’s the summary:

• Total # of homes sold: 85 in 2007, virutally flat to the 83 sold in 2006.
• Average Sales Price: $1,445,729 in 2007, an 11.6% increase over $1,294,690 in 2006
• Median Sales Price: $1,287,500 in 2007, which represents an increase of 2.9% over $1,250,000 in ‘06.
• DOM: 30.5 days in 2007, versus 37 in 2006.

If you’re interested in seeing the details of all the homes that sold in Emerald Hills in 2007, click here —> Emerald Hills 2007 Sales Figures

Happy New Year from emeraldhillsblog.com!