The Emerald Hills Blog

Inventory Analysis

Activity remained steady this week, with two homes closing escrow and five new listings testing the market.  The active/pending ratio remains at a balanced level for the second consecutive week, which bodes well for the market in general.

Here’s the summary of the Emerald Hills and Farm Hills Estates market as of 6/27/09:

• Active: 55 Homes (Last week: 50)
• Pending Sale: 20 Homes (Last week: 22)
• Ratio: 2.8 : 1 (Last week:  2.3 : 1)
• Average Price of Homes for Sale: $1,543,062 (Last week: $1,599,128)

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Homes Sold

Below are the homes that sold this past week in Emerald Hills and Farm Hills Estates.  For information any of the homes below, simply click on the picture or address link….

3711 Brandy Rock Way

• Pictured above:  Sale Price: $1,400,000. Original List Price: $1,495,000.   Difference:  $95,000 (6.4%) below original list. DOM: 17 Days under the current MLS# 80922807.     Listed by Sally Jones of Alain Pinel Realtors.

1060 Lakeview Way

• Sale Price: $1,220,000. Original List Price: $1,249,000.   Difference:  $29,000 (2.3%) below original list. DOM: 9 Days under the current MLS# 80922367.     Listed by Michelle Glaubert of Coldwell Banker.

***To see all homes that have sold in the Emerald Hills area in the past 3 months, click here:  Homes Sold — Emerald Hills

***To see all homes that are pending sale in the Emerald Hills area, click here:  Homes Pending Sale — Emerald Hills

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New Listings

Below are the new listings that hit the market this past week in Emerald Hills and Farm Hills Estates. Click on the respective addresses to get all the details.  (Note:  If  a generic map comes up instead of a property profile, it likely means that particular home  is already Pending Sale.  Click the link in the “Homes Pending Sale” section to check.)

8 Woodridge Court

• Pictured Above:  $1,849,000 — 4BR/2.5BA, 2,690 sq ft  on a 14,700 square foot lot.    A new listing in Woodhill Estates.  MLS# 80930576, co-listed by Karen Kehrberg and Jim McCahon of Coldwell Banker.

3527 Oak Knoll Drive

• $1,525,000 — 3BR/2.5BA, 2,400 sq ft  on a 8,857 square foot lot.    MLS# 80930055, listed by Jami Arami of Alain Pinel Realtors.

827 Shepard Way

• $1,020,000 — 3BR/2.5BA, 1,830 sq ft  on a 7,245 square foot lot.    MLS# 80930682, listed by Jan Majeski of Alain Pinel Realtors.

1127 Fernside Street

• $749,000 — 3BR/2BA, 1,250 sq ft  on a 5,777 square foot lot.    MLS# 80930014, listed by Michelle Glaubert of Coldwell Banker.

41 W Summit Way

• $729,000 — 3BR/2BA, 1,610 sq ft  on a 7,400 square foot lot.    MLS# 80931001, listed by Peter Vece of Dumas & Company.

**To see all of the homes that are currently for sale in the Emerald Hills area,  click here: Emerald Hills Area Single Family Residences For Sale

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The “What Sold, and What’s New” Series, as the name implies, is a quick summary of what homes sold during the past week in Emerald Hills and Farm Hill Estates, as well as any new listings that hit the market.

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Inventory Analysis

The positive momentum continued this past week in Emerald Hills and Farm Hills Estates.   A few more homes sold, and there are some interesting new listings to liven up the inventory a little bit.  The active/pending ratio has improved for the second consecutive week, which reflects the uptick in sales activity.  Here’s the summary of the Emerald Hills and Farm Hills Estates market as of 6/20/09:

• Active: 50 Homes (Last week:58)
• Pending Sale: 22 Homes (Last week: 19)
• Ratio: 2.3 : 1 (Last week:  3.1 : 1)
• Average Price of Homes for Sale:  $1,599,128 (Last Week:  $1,527,385)

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Homes Sold

Below are the homes that sold this past week in Emerald Hills and Farm Hills Estates.  For information any of the homes below, simply click on the picture or address link….

932 Pleasant Hill Road

• Pictured above:  Sale Price: $1,298,125. Original List Price: $1,438,000.   Difference:  $139,875 (9.7%) below original list. DOM: 41 Days under the current MLS# 80917992.    Listed by Gina Henson of Sequoia Realty Services.

919 Wilmington Way

• Sale Price: $1,600,000. Original List Price: $1,785,000.   Difference:  $185,000 (10.4%) below original list. DOM: 117 Days under the current MLS# 80903759.    Listed by Shelly Roberson of Alain Pinel Realtors.

3696 Brandy Rock Way

• Sale Price: $975,000. Original List Price: $1,160,000.   Difference:  $185,000 (15.9%) below original list. DOM: 41 Days under the current MLS# 80918829.    Listed by Susan and Sabrina of Prudential California Realty.

***To see all homes that have sold in the Emerald Hills area in the past 3 months, click here:  Homes Sold — Emerald Hills

***To see all homes that are pending sale in the Emerald Hills area, click here:  Homes Pending Sale — Emerald Hills

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New Listings

Below are the new listings that hit the market this past week in Emerald Hills and Farm Hills Estates. Click on the respective addresses to get all the details.  (Note:  If  a generic map comes up instead of a property profile, it likely means that particular home  is already Pending Sale.  Click the link in the “Homes Pending Sale” section to check.)

482 West Maple Way

• Pictured Above:  $3,295,000 — 4BR/3.5BA, 4,010 sq ft  on a 0.83 acre lot.    MLS# 80928919, listed by Peggy Greene of Coldwell Banker.

8 Wilmington Acres Court

• $1,450,000 — 4BR/3BA, 3,040 sq ft  on a 12,512 square foot lot.    MLS# 80929430, listed by Mark Benson, Broker.

852 Seminole Way

• $1,048,000 — 3BR/2.5BA, 2,260 sq ft  on a 7,728 sq ft lot.    MLS# 80928916, listed by Keri Nicholas of Coldwell Banker.

**To see all of the homes that are currently for sale in the Emerald Hills area,  click here: Emerald Hills Area Single Family Residences For Sale

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The “What Sold, and What’s New” Series, as the name implies, is a quick summary of what homes sold during the past week in Emerald Hills and Farm Hill Estates, as well as any new listings that hit the market.

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Is two-thirds too tough?

Senator Joe Simitian thinks so.  That’s why he is pushing for an amendment to the constitution to lower the approval required for school parcel taxes from the existing 66.7% to 55%, citing the need to help school districts out in tough times.  For a good article on the new bill, read Heather Murtagh’s article in the Daily Journal:  Bill to Ease Tax Passage.

Another run?

What didn’t escape School District board members and supporters of Measure E was the fact that had this bill already been in place, Redwood City’s Measure E would have easily passed in the last election. Does this mean another run down the road for a school parcel tax in Redwood City?
The bill still faces significant challenges before it becomes law, but you have to believe many school districts on the Peninsula, including Redwood City, are watching this one very closely.
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Inventory Analysis

The Active/Pending ratio continued to swing toward a more healthy balance this past week. Inventory dropped again, and the number of pending sales rose – that’s great news for this area, which is sorely in need of some inventory turns.  Here’s the summary of the Emerald Hills and Farm Hills Estates market as of 6/13/09:

• Active: 53 Homes (Last week: 58)
• Pending Sale: 21 Homes (Last week: 19)
• Ratio: 2.5 : 1 (Last week:  3.1 : 1)
• Average Price of Homes for Sale:  $1,541,856 (Last week:  $1,527,385)

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Homes Sold

Below are the homes that sold this past week in Emerald Hills and Farm Hills Estates.  For information any of the homes below, simply click on the picture or address link….

238 Upland Road

• Pictured above:  Sale Price: $1,000,000. Original List Price: $1,050,000.   Difference:  $50,000 (15.0%) below original list. DOM: 175 Days under the current MLS# 80918658.    It first listed back in Nov ‘08 at $1,199,900.  Listed by Brenda Oliveira of Coldwell Banker.

954 Glennan Drive

• Sale Price: $880,000. Original List Price: $850,000.   Difference:  $30,000 (15.0%) above original list. DOM: 4 Days under the current MLS# 80921655.    Listed by Olivia & Mary of McGuire Real Estate.

541 Oak Ridge Drive

• Sale Price: $549,000. Original List Price: $549,000.   Difference:  $0 (0%) from original list. DOM: 4 Days under the current MLS# 80915835.    Listed by Susan Silver of Intero Real Estate Services

***To see all homes that have sold in the Emerald Hills area in the past 3 months, click here:  Homes Sold — Emerald Hills

***To see all homes that are pending sale in the Emerald Hills area, click here:  Homes Pending Sale — Emerald Hills

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New Listings

Below are the new listings that hit the market this past week in Emerald Hills and Farm Hills Estates. Click on the respective addresses to get all the details.  (Note:  If  a generic map comes up instead of a property profile, it likely means that particular home  is already Pending Sale.  Click the link in the “Homes Pending Sale” section to check.)

1065 Chesterton Avenue

• Pictured Above:  $865,000 — 3BR/2BA, 1,520 sq ft  on a 7,128 square foot lot.    MLS# 80928357, listed by Doug Gonzalez of Coldwell Banker.

**To see all of the homes that are currently for sale in the Emerald Hills area,  click here: Emerald Hills Area Single Family Residences For Sale

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The “What Sold, and What’s New” Series, as the name implies, is a quick summary of what homes sold during the past week in Emerald Hills and Farm Hill Estates, as well as any new listings that hit the market.

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Measure E Failure

You had to know that when Redwood City’s Measure E went down to defeat last week that big cuts were likely coming to the Redwood City School District.  Well, the other shoe has dropped, so to speak, and some of the cuts and changes that are needed to shave $10.7M out of the budget were announced yesterday.   Suffice it say that the cuts are deep.

Bigger Classrooms, Fewer Teachers

The most noticeable change in Redwood City Schools will mean fewer classrooms for more students.  The combination of teacher layoffs and elimination of programs means the average number of students per classroom will increase significantly, possibly as high as 28 per classroom in the higher grades.

For more details on the proposed changes to the school district, read this article from the Daily Journal:  Classroom may close to fill Redwood City School Budget Gap.

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Inventory Analysis

No homes sold this week in either Emerald Hills nor Farm Hills Estates, but don’t let that mislead you.  As you can see from the numbers below, the number of pending sales jumped from the previous week, and the inventory has dropped below 60 for the first time in weeks.  People are definitely back shopping for homes. Here’s the summary of the Emerald Hills and Farm Hills Estates market as of 6/6/09:

• Active: 58 Homes (Last week: 63)
• Pending Sale: 19 Homes (Last week: 12)
• Ratio: 3.1 : 1 (Last week:  5.3 : 1)
• Average Price of Homes for Sale:  $1,527,385

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Homes Sold

Below are the homes that sold this past week in Emerald Hills and Farm Hills Estates.  For information any of the homes below, simply click on the picture or address link….

• No homes sold this past week in Emerald Hills nor Farm Hills Estates…

***To see all homes that have sold in the Emerald Hills area in the past 3 months, click here:  Homes Sold — Emerald Hills

***To see all homes that are pending sale in the Emerald Hills area, click here:  Homes Pending Sale — Emerald Hills

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New Listings

Below are the new listings that hit the market this past week in Emerald Hills and Farm Hills Estates. Click on the respective addresses to get all the details.  (Note:  If  a generic map comes up instead of a property profile, it likely means that particular home  is already Pending Sale.  Click the link in the “Homes Pending Sale” section to check.)

5 Acacia Lane

• Pictured Above:  $2,349,000 — 5BR/4+BA, 3,570 sq ft  on a 11,850 square foot lot.    MLS# 80927448, listed by Nino Perrone of Bay Area Estates.

916 Lakeview Way

• $1,349,000 — 3BR/2BA, 1,700 sq ft  on a 7,200 square foot lot.    MLS# 80926397, listed by Matthew Shanks of Cashin Company.

1276 Crompton Road

• $789,500 — 3BR/1BA, 1,020 sq ft  on a 6,270 square foot lot.    MLS# 80927133, listed by David Tapper of Cashin Company.

**To see all of the homes that are currently for sale in the Emerald Hills area,  click here: Emerald Hills Area Single Family Residences For Sale

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The “What Sold, and What’s New” Series, as the name implies, is a quick summary of what homes sold during the past week in Emerald Hills and Farm Hill Estates, as well as any new listings that hit the market.

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The Big Reduction?

I ran into a friend of mine the other day who lives in Belmont, and he told me that he got a little “present” in the mail from the County Tax Assessor.  It was a letter saying that his property tax had been proactively reduced to reflect the decrease in home values in his area.    This wasn’t a surprise to me, since we discussed earlier on this blog that the County was going to proactively review the assessed values of nearly 45,000 homes in San Mateo County and revise them accordingly.  But it got me thinking that maybe they’ve finished their evaluation?

Emerald Hills:  A Prime Candidate.

If you’re an Emerald Hills homeowner, it’s no secret to you that values have dropped significantly in this area over the past couple of years.  With the average price of a home still north of $1M, it’s the sector of the market that has been hit the most severely, and has taken the longest time to recover.  High interest rates on jumbo loans, tight credit, unemployment…you name it, and it’s had a negative effect on the housing market up here.   So one would conclude that Emerald Hills should benefit from the County’s recent sweeping re-evaluation????

Any Luck?

So the big question is, has anyone in Emerald Hills gotten a “present” in the mail too?  I know that numerous homeowners have tried in the past on their own to get their assessed value adjusted downward, only to be denied.   But now that it seems like the County is completing its review, I’m curious to see how they are viewing the Emerald Hills area.

Share your success/failures by leaving a comment below….

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Measure E Defeated

As reported this morning in the Mercury News,   Redwood City’s Measure E did not garner the necessary 2/3 votes to pass in yesterday’s special election.   The $91 per parcel proposed tax only received 62.1% of the yes votes required for passage, with all precincts reporting their results.   This is an especially tough defeat for the Redwood City School District — not only will they not get the estimated $2.2M influx of annual funds that the parcel tax would have generated, but they’re now stuck with footing the bill for the pre-election consultants, as well as the entire cost of running the election since there were no other issues on this ballot.   Ouch….

Here’s the article in today’s Mercury — >  Measure E Fails at the Polls.

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A Musical Tradition

Redwood City has a developed a great tradition of hosting free musical concerts throughout the summer at various places in the City.   The most popular of these venues is the Music on the Square Series that’s held every Friday evening in the renovated Courthouse Square in Downtown Redwood City.  Here’s the 2009 Summer Schedule:

·      May 29 – Rodeo House
·      June 5 – Manicato
·      June 12 – John “Broadway” Tucker
·      June 19- Caravanserai
·      June 26 – Livewire
·      July 3 – City Rocks
·      July 10 – Careless Hearts
·      July 17 – Tempest
·      July 24 – Kenny Neal
·      July 31 – Evolution
·      August 7 – The California Honeydrops
·      August 14- Aja Vu
·      August 21 – Big City Review
·      August 28 – Still Time
·      September 4 – Groove Kings Band
·      September 11 – Jeffery Broussard
·      September 18 – Sun Kings
·      September 25 – Mazacote
·      October 2 – Zoostation

Want more music?

The music doesn’t just happen on Friday nights in Redwood City….no way.    There are different series throughout Redwood City during the week.  Here’s a sample:

Need more info?

For more information on these schedules, or for a quick bio on all of the bands that will be performing at these venues, click on this link:

Redwood City Summer Music Series

Enjoy!

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