Cindy Liebsch
Peninsula Real Estate News
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Menlo Park, CA January 2010 Real Estate Sales and News
Everyone is asking, “Where are all of the nice homes for sale in Menlo Park?” We have anxious buyers ready to purchase, but we have very little nice inventory of homes in the popular price ranges. Pent up buyer demand is converting our “bubble of a real estate area” into a “Seller’s” market right now. We seriously need a large quantity of nice/beautiful, remodeled homes in move-in condition (no bathroom or kitchen re-do’s to do!), that have over 2,000 square feet inside on lots of 8,000 square feet minimum from $2Mil to $3Mil. The keys are the Menlo Park or Atherton properties for sale must appeal to the buyers, be in the price ranges of $2Mil to $3Mil, be recently remodeled with higher end materials, have great space inside and out, and NOT be over priced or flawed with issues such as location or poor floor plan. It could be a very busy Spring market if we could only get more nice homes in Menlo Park or homes in Atherton to sell. It would be a win-win for both buyers and sellers. Let me know if you know of anyone ready to move and sell.
The January 2010 real estate sales numbers for Menlo Park areas were far too quiet.
Area # of Sales * Average Days on Market * Average Sales Price*
Allied Arts 3 14 $1,075,000
Central Menlo 0 0 0
Fair Oaks 2 65 610,500
Alameda/County 0 0 0
Menlo Oaks 1 6 935,000
Willows 1 94 960,000
Felton Gables 0 0 0
*The statistics reported above are from the local Multiple Listing Service (MLS). Off market sales are not included in the reporting to MLS therefore, we know actual numbers vary since there are off market sales occurring on a monthly basis. Closed sales indicate those sales that actually closed escrow and does not include those that are in “pending” contract status. Pending sales will be reflected in the month they actually close escrow.
In January 2010 there were 7 sales in Menlo Park that sold for an Average Sales Price of $947,857. In January of 2009 there were 5 sales for an Average Sales Price of $1,344,200. The difference in Average Sale Prices in 2010 versus 2009 was due to the fact that there were 3 sales in January of 2009 that skewed the average higher (one sale in Menlo Oaks for $2.2Mil and 2 in Sharon Heights averaged $1.650Mil). Five years ago in January of 2005, there were 17 closed sales and the Average Sales Price was $1.581Mil. Many sales in Central Menlo skewed that average higher.
We look forward with hope and anticipation to the Menlo Park real estate market for the rest of 2010.
This Will “Make Your Year”…Maybe Even Your Decade
I was gifted this amazing link (see below) to start off the new year and decade.
The link provides you the secrets to success in life. It is inspiring and very motivating. Trust me, take the time right now and watch this short video – you will be glad you did. Refresh your memory with what the very successful already know. I refer to it when I am having a challenging moment or when I can grab time to be introspective (usually very late at night). It could quite possibly “make your year” or maybe even make your decade a significant one. Take the time, it is worth it!
http://www.youtube.com/watch?v=YkkUfBvOyxs&feature=player_embedded
I hope it makes a difference in your life and someone else’s. I welcome your comments and feedback.
Is The Housing Market Getting Better?
Great Wall Street Journal article to read –
Everyone wants to know – Is The Housing Market Getting Better?
10 very good questions answered about the housing market.
10 Housing Markets Ready To Rebound??
Luke Mullins of U.S. News & World Report wrote an article (with scroll through slides, statistics and photos) about 10 hard hit housing markets that he thinks are poised to rebound. The San Francisco area is one of those markets that he notes will rise up to 12% in the first quarter of 2010 and maybe up to a 26% increase by 2012.
I honestly don’t know for certain that his article is accurate and/or he is right about what will rebound. I thought that it was an article worth the time to read, wait and see. I hope he is right, and the home owners who are suffering in Redwood City, Menlo Park, Woodside and Los Altos areas are fortunate enough to see their home values rise. Real estate is local, I hope for the best for our local residents….what ever that may be for each individual.