Top 5 Real Estate Buys Week of September 1, 2008

Hi there! Hope everyone had a wonderful Holiday weekend. School’s strating and it’s back to business. There’s alot of inventory to be had right now and fall is approaching. Sellers don’t want to be on the market through the Holidays. So if you’re serious about making a purchase (bank owned properties in the lower-end micro-markets in the County are moving  especially fast right now), get on it! You have the advantage. Here’s the week’s Top 5. Have a great week!

1) 231 Windsor Drive San Carlos. This is a lot of house for $799,000 in San Carlos. Great street in woodsy Devonshire canyon.  It’s a 3/2 with great bones, hasn’t been on the market in 50 years. Well taken care of.  Talk about tree equity! This is a great buy; you already know how great the San Carlos schools are and this neighborhood is well over $1 million in the way of comps.  Listed by Ellen Scardigli of Cashin Company.

2) 318 San Carlos Avenue, Redwood City. This is one of those first time buyer dreams come true. AT this price you can skip the condo and go straight to a single family home.  This is a wonderful neighborhood just off of Woodside Road. The home is a 2/1 (and a small interior square footage of 780), nicely maintained and move-in ready. You can even walk to most of your shopping destinations and there are parks close by. The lot is under 3,000 square feet. It’s a short sale subject to lender approval. At $499,999, it’s definitely worth considering. COndos can be higher, and a lot more difficult to sell down the road. Listed by Raul Vildivia of Hogares Realty.

3) 2880 Hosmer Street, San Mateo. This is a bank-owned property and it’s really a great deal. 9,000 square foot lot, pool, 3/2. 1500 square feet. Interior needs an update but the amount of home you’re getting for the price is  pretty remarkable.  $649,000. Located close to the Foster City border. Listed by Alex Lehr of Lehr Real Estate.

4) 916 Timothy Lane, Menlo Park. This is a fantastic home with character built in 1939. Located in Flood Park, a very well-established neighborhood west of 101 and one of the last affordable areas left in Menlo Park. It’s priced VERY well at $899,000. The neighborhood comps are higher and will continue upward as more of these homes are bought & remodeled. Menlo Park Schools also buoy value as I always tell you. It’s a 3/2, 1440 square feet, with a generous, tree-studded 7,000 square foot lot. This is a winner; go see it. Listed by Arn Cenendella, Coldwell Banker.

5) 2947 San Juan Boulevard, Belmont. This home is in need of some updating, no doubt. But at this price, you can afford it. The home is move-in ready (you’ll want to do the bathroom first), 3/1, 1010 square feet. Expansion is possible and the lot is fantastic. Woodsy street in the canyon of the Belmont hills. Great school district and the elementary school is very close by. Lot is 6745 square feet. Mature oaks everywhere. Great investment; neighborhood comps at well over $200k higher. Listed by Haifa Khoury at Re/Max Today.