Top 5 Real Estate Buys week of June 2, 2008

 

There are some great real estate buys in San Mateo County right now. Each week, I feature 5 that I think buyers should consider. They will not always be right for everyone, and I  try to cover several price-points and property types.  I  base my criteria on neighborhood comps & historical value trends, the neighborhood’s long-term investment potential, and the home’s long-term investment potential. Now more than ever, I encourage buyers to see beyond the obvious. Remember that neighborhood trends are changing, and “deals” are relative. The best “deals” are homes that need some improvement.  If you want a home that’s fully remodeled, you will pay top dollar! Remember, you can contact me if you want more info or need an agent. It’s what I do…

1) 45 Maple Way, San Carlos. Ok, this house has been on my list severl times. Why? because the sellers insisted it be listed too high and now it’s sitting. Would someone make an offer under asking already???? This home is in tip-top condition, owned by the same couple for over 30 years. a 3/2, 1250 square feet. Lot is 5,000 and it’s in a lovely San Carlos neighborhood west of the Alameda de las Pulgas. Listed a tad high at $929,000. Needs a little kitchen & bath update.  A smart buyer would write an offer and get a great deal. This is a wonderful home. Listed by Justine Ford, Re/Max Today.)

2) 103 Lakeview Way, Emerald Hills (Redwood City). Cute 2/2 of 1390 square feet with a big 10,000 square foot lot. A unique  chance to get into this highly sought-after neighborhood under $1million and move-in ready. An 85 year old cabin (like many properties in this area, folks used to come down from the city on weekends). Owned by the same couple for 30 years, it’s a bit dated on the inside but totally liveable while you remodel. At $850,000 This will sell quickly, likely with multiple offers. Listed by Judy Litteer at prudential.

3) 318 San Carlos Avenue, Redwood City. This is a short sale in a Redwood City neighborhood that has continued to appreciate since 2004. Comps at $1 million; borders Atherton.  Yes, it’s small, a 2/1, 740 square feet, but at this price, grab it and watch your money grow. Listed at $499,999. An especially good deal for well-qualified first time buyers. Listed by Raul Valdivia of Hogares Realty.

4) 16 Prague Street, San Mateo. I’ve always been a fan of North Shoreview and this is a great price for a really cute home that’s been well-maintained. It’s a short sale at $505,000. A 2/1 (typical 1947 home in this area). Lot is 5,000 square feet. New park just down the street and the Bayside trail is magnificent. Listed by Berta Tovar of Marshall Realty.

5) 1009 Windermere, Menlo Park. This neighborhood has consistently appreciated since 2004 and while it’s seen a slight softening in the 1st quarter of this year, (probably only temporary), this home is a great buy. Surrounded by a community of new homes that just went on the market, all in the high $900,000’s. A classis rancher, 2 bedroom, 1 bath, 1160 square feet and a nice big lot of 5900 square feet. Easily expandable. The home is neat as a pin and the Menlo Park schools ensure your resale value down the line. Listed at $849,950 by Mia Meier of Red Hawk Realty.