Tueday Tour (September 9): Capitalize on market downturn and downsize

The recent downturn greatly impacted the condo / townhouse market (in other words, significant declines). On the other hand, most homes above $1,4 million are holding their value. If you own a home in this price range and are thinking of downsizing, take advantage of the current market and consider the following new listings from this week’s broker tour:

• 633 ELM ST #209, San Carlos – A 2/2 in Pacific Hacienda, downtown San Carlos is a short walk. Patio faces north-west and looks out on a patio. Second floor unit. Priced at $849,999.
• 602 CHELSEA WY, Redwood City – A 2/1 in a very sought-after complex, Chelsea is has very good lighting and views of the central lake. It feels more like a town house, since its a top floor unit sharing only one wall (think windows on three sides).I like this area of Redwood City since it provides easy commutes (101, 280 and Caltrain) and nearby shopping. Priced at $519,900.

Tueday Tour (September 9): Focus on professionals

Unlike the previous homes (1500+ SF), the following homes are 3-2s with no family rooms. Past experience suggest professional couples (usually without children) prefer these homes. Why? Most use the additional rooms as guest bedroom and office / gym. Schools are less important (other than improving resale value). Finally, professionals are more likely to do improvements (improvements + kids = pain, usually at least). Of the homes I previewed on Tuesday, the best work for professionals:

• 24 CHESTNUT ST, San Carlos – Good floorplan on not through street. Priced at $939,000.
• 3079 GOODWIN AV, Redwood City -Good floorplan, though mostly original condition and detached structure in back (personally, I’d make it an office or remove it). Listed $60,000 less than Chestnut.
• Both 1643 SAINT FRANCIS WY and 1643 SAINT FRANCIS WY work well too.
  
• 355 KING ST, Redwood City – King is in Mt. Carmel, one of my favorite neighborhoods. The third bedroom is accessed by a steep staircase, so it works well as a guest bedroom. Remodeled and landscaped. One car garage. A good value if purchased near the $799,450 list price.

Tueday Tour (September 9): Focus on buyers with families

Of the new listings I toured today, the following homes work well for families because offer good schools, large yards and good separation of sleeping and living space. Additionally I look for 3-4 bedrooms, family room and two car garage.

• 3869 BRET HARTE DR, Redwood City – Situated in Farm Hill Estates, Bret Harte is completely remodeled (floors, windows, paint, kitchen, baths, landscaping) and requires no work. The living space (living room, dining room, kitchen) has windows on three-sides, nearly all face the Bay (nice views). A huge deck extends the dining room (great for entertaining). The kitchen looks out on the yard (for watching kids play). Three bedrooms up (all large rooms), and a family room / office / full bath down. In other words, there are two, distinct living spaces (up and down). School is Roy Cloud (K-8). Of the listed homes, Bret Harte is the most expensive at $1,269,000.
• 2 WILLIAMS LN, San Carlos – In San Carlos Hills on a cul-de-sac, 2 Williams is a short walk from Arguello Park. A typical rancher, visualize the house in two halves. Looking at the house from the street, four bedrooms make up the left half, and living room / kitchen / family area make up the right half. Most of the home is remodeled (except for the hall bath). The kitchen / family area looks out on the rear yard, which is comprised of an enclosed deck and pool (enclosure makes the yard more kid safe).  Schools are Arundel and Tierra Linda. Bret Harte offers more square footage, a significantly larger yard and views, although Williams is priced at $74,000 less and offers a pool.
• 1643 SAINT FRANCIS WY, San Carlos – Although smaller than the previous two homes, the floorplan flows very well. In my opinion, the home accommodates a two-child family. The home is completed remodeled (very nicely done), and the rear yard is easily accessible from the home. White Oaks elementary is within walking distance. Some consider Saint Francis a busier street as it joins El Camino and Alameda for south San Carlos. Compared to Williams, you get less home in a more sought after neighborhood for $45,000 less.
• 184 CEDAR ST, San Carlos – Located in San Carlos Hills near Belmont, Cedar divides the home by three bedrooms on the left and living / dining / kitchen / family on the right. Nice level yard. Compared to Saint Francis, Cedar offers significantly more square footage (360 square feet) which comes via the master and family room for $54,000 less. Again, Saint Francis is located in the more sought after neighborhood, White Oaks.
• 1056 SAN REMO WY, San Carlos – Although not as updated as the previous homes (though definitely move-in ready), San Remo is in good condition, has large rooms and a good division of space: three bedrooms / two baths up and a half bath / family room down (similar flow to Bret Harte). Located in San Carlos Hills on a cul-de-sac. Back deck has canyon views. Although the lot is large on paper, some of it is down slope. All in all, the yard works well for children. At $949,000, San Remo is significantly more affordable than all the above, yet it offers yard, schools, location and views! Although some may not like the exposed beam ceilings, remodel San Remo and you’ve got a beautiful home.