The Gilmartin Group Blog

San Mateo County: Best of Tour 5/5/09

DanGilmartin — Tue, 05 May 2009 16:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, May 5th, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 16 homes and found 351 Laurel Avenue in Millbrae with an asking price $1,148,000.

In the romantic heart of Millbrae Highlands celebrated architectural designs, lies this wonderful Mediterranean home. Through the gated entrance one will find irreplaceable craftsmanship as this 4 bedroom, 2 bath home unfolds featuring a formal dining room, large family room with fireplace and a timeless living room with fireplace. A sunny eat-in kitchen flows effortlessly to the family room and back patio, perfect for entertaining and family gatherings. Plenty of storage and brand new landscaping makes this home an incredible find in todays market.

When it comes to a true value proposition 351 Laurel Avenue in Millbrae wins todays Best of Tour!

San Mateo County: Best of Tour 4/28/09

DanGilmartin — Tue, 28 Apr 2009 14:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, April 28th, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 14 homes and found 22 Seville Way in San Mateo with an asking price $1,298,000.

Dramatic Mediterranean style extends gloriously throughout this home conveniently located in the premier setting of Aragon. Past the incredible curb appeal lies a 4 bedroom, 2 bath family home which includes a formal dining room a formal living room with great architectural detail and fireplace a bright family room and gourmet kitchen with chef appliances. Doors open from the family room and kitchen to a relaxing deck, large backyard and patio perfect for the whole family and gatherings. Hardwood floors throughout, tons of storage, and a 1-car garage complete this beautiful home.

When it comes to a true value proposition 22 Seville Way in San Mateo wins todays Best of Tour!

San Mateo County: Best of Tour 4/14/09

DanGilmartin — Tue, 14 Apr 2009 17:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, April 14th, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 17 homes and I must say that 18 Tiptoe Lane in Burlingame was the best home I toured!

Discover this magnificent versatile ranch style home with a huge park like setting backyard, which includes sprawling decks, hot tub, basketball court and lawns perfect for indoor / outdoor living for the whole family. Through the large foyer one will find an elegant formal dining room and a bright living room w/ green belt views. The gourmet kitchen features chefs appliances and large granite island. The family room with fireplace and doors opening to the top deck presents an excellent flow, while the master suite and guest room and remodeled bathrooms round out the main level. Downstairs there are two additional bedrooms with remodeled bathroom, a wine cellar, bonus family room and x-large laundry room. 3,800 square ft. nestled at the end of a private lane with tons of storage and a 2-car garage. This home is an incredible find in todays market!

When it comes to a true value proposition 18 Tiptoe Lane in Burlingame wins todays Best of Tour!

San Mateo County: Market Update 4/13/09

Timothy D.Gilmartin — Mon, 13 Apr 2009 17:00:00 -0600

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of April 13, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for April 13, 2009 is as follows:

Currently Available SFR	508
New Listings (4/06/09- 4/13/09)	38
Sold (4/06/09- 4/13/09)	42
Expired, Canceled or Withdrawn	22
Net Inventory Change over week	(26) Homes

For the first time this year new pendings exceeded new listings. This usually only happens between Thanksgiving and New Years. Inventory has dropped by 3% over the past couple of weeks and the market seems to be finding itself. Fannie Mae and Freddie Mac are coming out with new loan limits of $729,950 starting in May. This has helped elevate the median price over the past couple of weeks in anticipation of these new limits.

As we exit the Easter holiday and pay our taxes we are heading into the prime buying/selling season for real estate. This is the time of year when more sellers decide to sell, and more buyers show up and buy their new homes. This is primarily due to school schedules. If you are a seller, be ready to be the most competetive seller in the market, and if youre a buyer, enjoy your selection, yet beware the market appears to be firming which usually means prices are ready to rebound.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update

San Mateo County: Market Update 3/23/09

Timothy D.Gilmartin — Wed, 25 Mar 2009 12:00:00 -0600

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of March 23, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for March 23, 2009 is as follows:

Currently Available SFR	526 Homes
New Listings (3/16/09-3/23/09)	58 Homes
Sold (3/16/09-3/23/09)	41 Homes
Expired, Cancelled or Withdrawn	24 Homes
Net Inventory Change over week	(7) Homes

For the fist time in several weeks total sold plus expired, canceled and withdrawn homes has exceeded the total of new listings on the market. The total number of sales, 41, is the highest number of sales in one week this year. Interest rates have dropped below 5%, the bottom of the market is selling strong and Bank of America is coming out with a new Jumbo Loan Program in order to add liquidity to the upper end markets. Lets all keep a positive thought that this is the beginning of a turning of the tide towards stabilized markets.

Sales in the first time buyer market are continuing at a strong pace. With prices down as much as 40% from the peak, interest rates below 5%, FHA financing which allows a 3.5% down payment and the governments first time buyer tax credit ($8,000 right off your taxes owed), this market is likely to continue to firm up and see upward pressure on prices once again.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update

San Mateo County: Best of Tour 3/17/09

DanGilmartin — Wed, 18 Mar 2009 10:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, March 17th, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 19 homes and found 1048 San Remo Way in San Carlos with an asking price $1,385,000.

Come and experience this wonderful family home perched on a quiet cul de sac in Beverly Terrace. Through the inviting front entrance one will find gleaming hardwood floors throughout the living room/dining room combination. The gourmet kitchen with chef appliances and family room with fireplace round out the main level, while a magnificent backyard with pool, patio, and deck boasts incredible views of the Bay. Perfect for all gatherings! Theres a place for everyone in the family with four bedrooms and 4 baths which includes the master suite. This home is a true find in todays market.

When it comes to a true value proposition 1048 San Remo Way in San Carlos wins todays Best of Tour!

San Mateo County: Market Update 3/16/09

Timothy D.Gilmartin — Mon, 16 Mar 2009 12:00:00 -0600

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of March 16, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for March 16, 2009 is as follows:

Currently available SFR	513 Homes
New Listings (3/09/09- 3/16/09)	65 Homes
Sold (3/09/09- 3/16/09)	32 Homes
Expired, Cancelled or Withdrawn	14 Homes
Net Inventory Change over week	+19 Homes

Inventory continues to grow in March. Total single family residences have increased in inventory by approximately 10% this month and 30% since the beginning of the year. The first quarter is usually characterized by a steady number of buyers with a slowly growing number of sellers. This year buyers have been few while sellers have been listing at a higher clip than usual. Inventory generally grows through the middle of June and I expect this year to be much the same.

Sales in the lower end of the market have been strong over the past 12 months, in fact in San Bruno, the total inventory is less than half of the total available last year at this time. The market less than $650,000 has strengthened which helps to set a base for the balance of the market. FHA is still providing loans with as little as 3.5% down up to $625,500. If this trend holds the overall market will find its confidence, which will go a long way toward repairing the loss in value over the past 24 months.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update

San Mateo County: Best of Tour 3/3/09

DanGilmartin — Tue, 03 Mar 2009 12:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, March 3rd, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 15 homes and found 30 El Cerrito Avenue in San Mateo with an asking price $2,100,000.

This magnificent Victorian style home was built in 1902 and has been meticulously maintained. A timeless jewel, uniquely crafted with a classic designer-quality workmanship and charming architectural details. Hardwood floors, tall ceilings, leaded glass windows, and an elevator. Great San Mateo Park location near downtown.

When it comes to a true value proposition 30 El Cerrito Avenue in San Mateo wins todays Best of Tour!

San Mateo County: Market Update 3/2/09

Timothy D.Gilmartin — Mon, 02 Mar 2009 11:00:00 -0700

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of March 2, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for March 2, 2009 is as follows:

Currently Available SFR          467 Homes
New Listings   (2/23/09- 3/02/09)    64 Homes
Sold (2/23/09- 3/02/09)          26 Homes
Expired, Canceled or Withdrawn    32 Homes
Net Inventory Change over week     (6) Homes

March has begun with heavy rains and a stunted sales market. I would like to believe the sales are slow due to the weather, yet overall market pessimism continues to rule the day. Last week new inventory shot up, with the most new listings in one week this year, while sales slowed and continue sluggish.

Buying a home is about providing housing for yourself and your family. Although the investment value may appear precarious at this time, there are more good homes for sale at much lower prices than just 24 months ago. As emotional decision makers, us humans tend to buy when others are buying (buy high) and sell when others are selling (sell low), exactly the opposite of what they say is the way to make money. Todays market gives a buyer a chance to satisfy their housing needs at lower prices (buying low), and with expectation that the market will return to a better day (sell high). Learn to go against the tide and buy low so that when you are ready you may sell high.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update

San Mateo County: Best of Tour 2/24/09

DanGilmartin — Tue, 24 Feb 2009 12:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, February 24th, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 17 homes and found 339 Sonora Drive in San Mateo with an asking price $1,449,000.

This immaculate home is perched on one of Aragon's most desirable streets! Remodeled kitchen with marble counters, Thermador stainless steel appliances, recessed lighting, crown molding, French doors, plantation shutters, sparkling hardwood floors, with an alarm system. Move in condition! Gracious, large, and located near Baywood Schools.

When it comes to a true value proposition 339 Sonora Drive in San Mateo wins todays Best of Tour!

San Mateo County: Market Update 2/23/09

Timothy D.Gilmartin — Tue, 24 Feb 2009 12:00:00 -0700

San Mateo County Real Estate, The Gilmartin Group's residential real estate market update.

This market update is for San Mateo County, California as of February 23, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfr's) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, "Gilmartin Group Market" update for February 23, 2009 is as follows:

Currently Available SFR             448 Homes
New Listings    (2/16/09- 2/23/09)         37 Homes
Sold        (2/16/09- 2/23/09)            27 Homes
Expired, Canceled or Withdrawn         27 Homes
Net Inventory Change over week      (17) Homes

As we enter the last week of February, the market is fully underway. Inventory is continuing to grow, with new sellers outpacing new buyers last week. The one thing keeping the inventory low is the sellers who are quitting the marketing process. This is evidenced by the category of expireds, cancels and withdrawns. This is a function of properties not selling. In a hot market we seldom have any in this category

The market has yet to act on President Obama's stimulus package. The continued lack of optimism from the top has kept most people on the sidelines so far. Seller's are getting more anxious by the day while waiting hopefully for a prospective buyer. If you are considering a move up, now is an excellent time to transact. The government is going to do whatever they can to stabilize and increase the value of real estate. If their plans are successful, the market will return to previous values pretty fast.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, "Monday Morning Market Update"

San Mateo County: Best of Tour 2/17/09

DanGilmartin — Tue, 17 Feb 2009 14:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, February 17th, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 20 homes and found 1607 Willow Avenue in Burlingame with an asking price $1,475,000.

This is a Mediterranean style home with a newly remodeled & landscaped entrance. 3 bedrooms, 2.5 baths with an updated kitchen and bath. The living room is accented by unique windows, barrel ceiling, and fireplace while the family room and kitchen lead out to a large level rear yard. This home is perfect for an active growing family. Located in the heart of Burlingame!

When it comes to a true value proposition 1607 Willow Avenue in Burlingame wins todays Best of Tour!

San Mateo County: Best of Tour 2/10/09

DanGilmartin — Tue, 10 Feb 2009 13:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, February 10th, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 17 homes and found 746 Nevada Avenue in San Mateo with an asking price $1,395,000.

This traditional 4 bedroom, 3 bath home is located in desirable Baywood Knolls and features a living room with classic fireplace & French doors. The gourmet kitchen with breakfast bar adjoins the laundry room with pantry. First floor bedroom includes a remodeled bath and would be suitable for an office/bedroom combination while upstairs features 3 additional bedrooms and 2 baths including a huge master suite with beautiful views. A large 4-car garage completes this home.

When it comes to a true value proposition 746 Nevada Avenue in San Mateo wins todays Best of Tour!

San Mateo County: Market Update 2/9/09

Timothy D.Gilmartin — Mon, 09 Feb 2009 10:00:00 -0700

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of February 9, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for February 9, 2009 is as follows:

Currently Available SFR          438 Homes
New Listings (2/2/09- 2/9/09)          53 Homes
Sold         (2/2/09- 2/9/09)          31 Homes
Expired, Canceled or Withdrawn        20 Homes
Net Inventory Change over week      2 Homes

As we enter the second week of February, the market is fully underway. Inventory is continuing to grow, with new sellers outpacing new buyers by more than 50% last week. The one thing keeping the inventory low is the sellers who are quitting the marketing process. This is evidenced by the category of expireds, cancels and withdrawns. This is a function of properties not selling. In a hot market we seldom have any in this category.

The overall market is hesitant to transact at the moment as they wait to see what the President's stimulus package may hold for them. In this hesitation is the opportunity to purchase at prices previous not thought possible. Sellers are getting more anxious by the day while waiting hopefully for a prospective buyer. If you are considering a move up, now is an excellent time to transact. The government is going to do whatever they can to stabilize and increase the value of real estate. If their plans are successful, the market will return to previous values pretty fast.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update

San Mateo County: Best of Tour 2/3/09

DanGilmartin — Tue, 03 Feb 2009 12:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, February 3rd, 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 21 homes and found 2827 Arguello Drive in Burlingame with an asking price $1,195,000. This is an attractive ranch-style home located in prestigious Mills Estates with uplifting Bay views, a pretty and private backyard with beautiful new deck, and a great floorplan! This home has hardwood floors and large rooms including an expansive family room. Soothing views out to a very private backyard and out to the Bay! Terrific schools nearby. Handsome home, wonderful neighborhood, superb value!

When it comes to a true value proposition 2827 Arguello Drive in Burlingame wins todays Best of Tour!

San Mateo County Market Update 2/2/09

Timothy D.Gilmartin — Mon, 02 Feb 2009 11:00:00 -0700

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of February 2, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for February 2, 2009 is as follows:

Currently Available SFR          428 Homes
New Listings     (1/26/09-2/2/09)     49 Homes
Sold         (1/26/09-2/2/09)          30 Homes
Expired, Canceled or Withdrawn     17 Homes
Net Inventory Change over week      2 Homes

Here we are in the first week of February, traditionally opening week for real estate sellers and buyers. The holiday hangover is over, the Superbowl has been played, and what else is there to do but get ready to move. Inventory is continuing to grow, with new sellers outpacing new buyers by more than 50% last week.

Our new President is doing his best to get the market moving, yet all this negative talk about the market has buyers hesitating. This is keeping prices soft, and days on market long. Interest rates are at historic lows and prices are off as much as 35% from the peek making this an excellent buyers market. If you are considering a move up, now is an excellent time to transact. In a hot market you sell high and you buy high, in a soft market you sell low, yet you get to buy low. This is important in California because you will set your property taxes on your move up home at a lower value.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update.

San Mateo County: Best of Tour 1/27/09

DanGilmartin — Wed, 28 Jan 2009 11:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, January 27th 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 17 homes and found 3464 Brittan Avenue in San Carlos with an asking price $1,450,000. This beautiful 4 bedroom, 3 bath home built in 1991 located at the end of a cul-de-sac and features a gorgeous chef's dream kitchen with granite, stainless steel appliances & hardwood floors. Large family room with fireplace, living room with fireplace and separate dining room. Canyon views from almost all rooms, incredibly large master bedroom suite with fireplace, ++ large rooms throughout complete this lovely home.

When it comes to a true value proposition 3464 Brittan Avenue in San Carlos wins todays Best of Tour!

San Mateo County: Market Update 1/20/09

Timothy D.Gilmartin — Fri, 23 Jan 2009 12:00:00 -0700

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of January 19, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for January 19, 2009 is as follows:

Currently Available SFR          393 Homes
New Listings (12/29/08- 1/5/09)    62 Homes
Sold         (12/29/08- 1/5/09)          29 Homes
Expired, Canceled or Withdrawn     23 Homes
Net Inventory Change over week    10 Homes

Week two of the year is the first, likely of many, where net supply grew with new listings exceeding the total of new sales plus all expireds, cancels and withdrawns. The first half of the year is often like this as peoples lives ramp up for changes they have planned. Most sellers start selling in the spring and net inventory growth generally accelerates through mid June.

January is the perfect month to get your home ready to sell. The market gets going in earnest in the week following the Super Bowl. The best time to market, based on supply and demand, is from February 1- March 31.

Respond to this blog with your specific market questions and Tim will provide specific and valuable information for your review.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update

San Mateo County: Best of Tour 1/20/09

DanGilmartin — Tue, 20 Jan 2009 12:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, January 20th 2009 in Burlingame, Hillsborough, Millbrae, and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 19 homes and found 123 Madison Avenue in San Mateo with an asking price $988,000.

This is a beautiful 3 bedroom, 2 1/2 bath home featuring a gourmet kitchen complete with granite slab countertops and GE Stainless Steel Appliances, spacious living room with fireplace, and stunning hardwood floors. The master suite includes a spacious walk in closet, balcony, and granite bath. Interior recessed lighting and a 2-car garage complete this lovely home.

When it comes to a true value proposition 123 Madison Avenue wins the tour!

San Mateo County Best of Tour: 1/13/09

DanGilmartin — Tue, 13 Jan 2009 11:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, January 13th 2009 in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value!

In total I viewed 18 homes throughout the cities I listed above and found 858 Longview Road in Hillsborough listed for $2,380,000.

This one story 4 bedroom, 3 1/2 bath home has approximately 3,440 square feet of living area, three fireplaces, a solarium off the kitchen area, den, recessed lighting, and a 3-car garage. Beautiful Bay Views, pool, and a park-like garden complete this lovely home.

When it comes to a true value proposition 858 Longview Road in Hillsborough wins today's Best Of Tour!

San Mateo County Market Update: 1/12/09

Timothy D.Gilmartin — Tue, 13 Jan 2009 11:00:00 -0700

San Mateo County Real Estate, The Gilmartin Group's residential real estate market update.

This market update is for San Mateo County, California as of January 12, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfr's) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, "Gilmartin Group Market" update for January 12, 2009 is as follows:

Currently Available SFR             372 Homes
New Listings (12/29/08- 1/5/09)   43 Homes
Sold     (12/29/08- 1/5/09)         11 Homes
Expired, Canceled or Withdrawn       43 Homes
Net Inventory Change over week (11 Homes)

As the holidays have ended and the market starts over again, last weeks market action is typical for early January. Seller's are gearing up to sell with 43 new listings in inventory, buyers are slow to buy still with only 11 homes sold in the last week, and tired sellers are quitting, with 43 homes either expiring, canceling or withdrawn from the market.

January is the perfect month to get your home ready to sell. The market generally gets going in earnest in the week following the Super Bowl, yet most owners decide to sell in the spring. When most owners decide to sell, inventory swells and values stagnate. The best time to market, based on supply and demand, is from February 1- March 31.

Check weekly to get your San Mateo County, Gilmartin Group, "Monday Morning Market Update"

San Mateo County: Best of Tour 1/6/09

DanGilmartin — Tue, 06 Jan 2009 12:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, January 6th 2009 in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value!

In total I viewed 15 homes throughout the cities I listed above and found 2516 Hale Drive in Burlingame listed for $2,288,000.

Nestled up off the street lies this 4-bedroom, 3 1/2 bath home including an inviting living room and formal dining room with elegant box beamed ceiling. The beautiful gourmet kitchen includes chef's appliances and sunny breakfast nook perfect for intimate gatherings. This luxurious home is loaded with upgrades including four flat screen TV's, Jacuzzi tub with remote, copper flashings and gutters. This is an extraordinary find in today's market! Come and experience true Old World craftsmanship on one of the finest streets in the Easton Addition.

With a new price of $2,288,000, 2516 Hale Drive certainly wins today's Best Of Tour!

San Mateo County: Market Update 1/5/09

Timothy D.Gilmartin — Mon, 05 Jan 2009 11:00:00 -0700

San Mateo County Real Estate, The Gilmartin Groups residential real estate market update.

This market update is for San Mateo County, California as of January 5, 2009. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos.

*Note this is not all of San Mateo County but a selected market.

This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfrs) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, Gilmartin Group Market update for January 5, 2009 is as follows:

Currently Available SFR          357 Homes
New Listings     (12/29/08- 1/5/09)    14 Homes
Sold         (12/29/08- 1/5/09)      20 Homes
Expired, Canceled or Withdrawn      75 Homes
Net Inventory Change over week     (81 Homes)

The annual, 1st week of January, inventory update tells us a lot about the current market and potential for the first half of the year. In the years with the hottest market, January inventory has been below 150 homes in the first week. The higher the inventory in January the softer the market is likely to turn out. This years inventory is almost the same as last years 365 homes for sale in the first week of the year.

Why is Januarys, 1st week, inventory so important? The annual ebb and flow of available property starts with the low inventory mark, usually the 1st week of January, with net inventory growth weekly through the middle week of the year, the last week of June. Starting in July, due to vacations and so on the net inventory starts to shrink right on through the last week of the year. Most people dont decide to sell their home between Thanksgiving and New Years which reduces new inventory while existing inventory is sold, cancelled or withdrawn from the market.

Based on this information prices in San Mateo County should remain stable to soft.

Check weekly to get your San Mateo County, Gilmartin Group, Monday Morning Market Update

San Mateo County: Best of Tour 12/16/08

DanGilmartin — Tue, 16 Dec 2008 12:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, December 16, 2008 in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value!

In total I viewed 15 homes throughout the cities I listed above and found 311 Lowell Avenue in San Bruno listed for $799,000.

This spacious Crestmoor Park Beauty has been kept in immaculate condition. The main level features 4 bedrooms with new carpets and 2 remodeled bathrooms. Large & open remodeled kitchen with cherry cabinets, stainless steel appliances & many more upgrades. Stairway leads to the attic in master bedroom Closet. Lower level has large unwarranted bonus room & 1/2 Bath in 2 car garage. Backs to Buckeye Park.

San Mateo County: Best of Tour 12/9/08

DanGilmartin — Tue, 09 Dec 2008 15:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, December 9th 2008 in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value!

In total I viewed 15 homes throughout the cities I listed above and found 2308 Valdivia Way in Burlingame listed for $1,749,000.

This lovely 3 bedroom, 2 bathroom home sits on a level creekside lot, on a cul-de-sac with a very private backyard. The living and dining rooms have walls of glass facing the gardens. There are hardwood floors throughout, ceiling fans in 2 bedrooms and an eat-in kitchen with a built in china hutch. This Ray Park beauty is a must see!

San Mateo County: Best of Tour 11/4/08

DanGilmartin — Tue, 04 Nov 2008 10:00:00 -0700

This Best Of Tour consists of the homes I viewed on Tuesday, November 4th 2008 in Burlingame, Hillsborough, Millbrae and San Mateo California. The main parameter that I am looking for is Value! In total I viewed 21 homes and found 2516 Hale Drive in Burlingame with an asking price $2,368,000. This 4 bedroom, 3 ½ bath home is nestled up off the street and includes an inviting living room and formal dining room with elegant box beamed ceiling.

The beautiful gourmet kitchen includes chef's appliances and sunny breakfast nook perfect for intimate gatherings. This luxurious home is loaded with upgrades including four flat screen TV's, Jacuzzi tub with remote, copper flashings and gutters. Come and experience true craftsmanship on one of the finest streets in the Easton Addition - an extraordinary find in today's market.

For more information and addition photos on this property, visit the direct link: http://www.thegilmartins.com/properties/details/more/id/1509/

When it comes to a true value proposition 2516 Hale Drive wins the tour!

San Mateo County: Best of Tour 9/23/08

DanGilmartin — Wed, 24 Sep 2008 12:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, September 23rd in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value!

In total I viewed 18 homes throughout the cities mentioned above and found 21 De Sabla Road in San Mateo listed for $1,350,000. This home boasts vintage appeal and classic California comfort. 4 bedrooms or 3+ with an office/den with master suite on first level & second en-suite bedroom upstairs. Also features an updated kitchen with spacious eat-in area, unique dining room layout, light filled living room with walls of glass and fireplace. Hardwood floors throughout. Cozy front porch & sunny patio, fully landscaped backyard with level lawn, sparkling pool & cabana.

When it comes to a true value proposition 21 De Sabla Road in San Mateo wins today's Best Of Tour!

San Mateo County: Best of Tour 7/1/08

DanGilmartin — Tue, 01 Jul 2008 00:00:00 -0600

It's a Success!

Since I started the Best Of Tour Blog for Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno, every home we have showcased has sold, both quickly and over asking.

So, if you are serious about finding a great home in Burlingame, Hillsborough, Millbrae, San Mateo or San Bruno then stay tuned in to our Best Of Tour Showcased properties each week.

Feel free to call us anytime to set up an appointment to view the latest featured home in our weekly Best Of Tour blog.

San Mateo County: Best of Tour 6/24/08

DanGilmartin — Tue, 24 Jun 2008 00:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, June 24th 2008 in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value!

In total I viewed 23 homes throughout the cities I listed above and found 2461 Poppy Drive in Burlingame listed for $1,395,000. This charming remodeled 3 bedroom and 1 bath English Tudor has a sunny living room with a beautiful fireplace & high ceilings. The large dining room is adjacent to the new kitchen with marble counters & eating area. Three bedrooms are located off the central hall with one of the rooms opening through French doors to a delightful deck. The private yard features a large brick patio.

When it comes to a true value proposition 2461 Poppy Drive in Burlingame wins today's Best Of Tour!

A Full-Service Real Estate Company

MaureenGilmartin — Thu, 19 Jun 2008 00:00:00 -0600

It is really interesting to understand why I am so excited to come to work each day. It is challenging to say the least. Some of my competition is exemplary and very fined tuned. Yet some of the competition is so inferior that one wonders what buyers and sellers are thinking during the hiring process. The preparation for these listing presentations is an in depth process that includes knowing the history of the property, knowing the comparable areas, and knowing the micro-position of the area.

It is also important to know the neighbors, community, and schools. We supply the packers, cleaners, painters, electrician, carpet layers, and flooring people. We also stage the yard, provide the furniture and at times even a waterfall. We can also coordinate new plants, new light fixtures, new plumbing fixtures and even a new front door. We can do all of this and more within a month’s time! And, we love to do it.

This is what we do for a lower commission, with more experience (5,000+ real estate transactions) and rather than one person we are a team of four with 108 years of combined experience in the business. We have a full time staff supporting each member of the Gilmartin Group including an Escrow Coordinator, Marketing Director, professional photographer, an Administrative Assistant, along with a 24 hour answering service. We do TV ads (200 times per week), advertise in the newspaper, magazine ads, a variety of mailers, and I personally make 22 contacts a day telling our database about our new listing. We are the definition of a "full service" real estate company and we are ready to do all this for you! Just give us a call: 650.348.2020

Exclusive Listing - 71 unit opportunity!

JennDean — Wed, 18 Jun 2008 00:00:00 -0600

Exclusive listing marketed by the Gilmartin Group.

Three buildings on three contiguous parcels just 1/2 block from University Ave. Property consists of 71 units, (56) units are 1/1 and (15) units are studios. A brand new building next door and plans to build new across the street speak to the rapid improvement of East Palo Alto.

These buildings are conveniently located in Central East Palo Alto 1/2 block south of University Ave. This location enjoys easy access to Silicon Valley, the East Bay via the Dumbarton Bridge, as well as easy access to the Baylands Preserve.

Please call Tim or Jenn for a marketing package on this property: 650.348.2020

Fabulous Views in Millbrae

JennDean — Mon, 16 Jun 2008 00:00:00 -0600

This is truly a great opportunity to experience the amazing views that Millbrae has to offer. Overlooking the Bay, Green Hills Country Club, and the greenbelt lies this well kept family home at 1002 Crestview Drive.

This home features 3 bedrooms and 2 baths with new carpet, new windows, and new paint inside & out. A large living room with wet bar and family room with fireplace round out this elegant open floor plan. Landscaped gardens and easy access to everything makes this home all the more appealing.

Your wonderful opportunity: $990,000

Tennis Anyone?

MaureenGilmartin — Thu, 12 Jun 2008 00:00:00 -0600

Be sure to look at the new pictures of our Fallenleaf listing in Hillsborough. These pictures truly capture the essence of the home. It's the perfect California home featuring the indoor/outdoor marriage of living in while living out and visa versa.

It is a perfect home for entertaining, hosting championship tennis games, soccer on the green or sunbathing around the pool. The fully equipped guest house has a full kitchen, living room with fireplace and loft bedroom. This home is perfect for today’s active family. The sellers bought this home because they are a family of tennis champions and have enjoyed their grandson’s play for many years. Since their grandson has now moved on to even bigger tennis they would like to move to a home nearby that is smaller and more manageable while they travel the world.

Tell your tennis friends about this one!

Looking for Opportunity in Hillsborough?

MaureenGilmartin — Thu, 22 May 2008 00:00:00 -0600

We have a new Hillsborough listing coming on the market in a couple of weeks and would be interested to know if anyone would like to preview this beautiful ranch style HIllsborough home. Total privacy and views of the bay and canyon provide a serene setting.

This home has had only one owner for the past fifty years. It's a great opportunity for anyone wanting to take advantage of Hillsborough's fabulous schools. It is in move-in condition with new carpets, new paint, and a level rear yard with a pool. The price is your opportunity to fulfill your Hillsborough dream.

The Question!

MaureenGilmartin — Fri, 16 May 2008 00:00:00 -0600

What is going on with Real Estate?

While the rest of the world seems to be in dire trouble we have a protected pocket here in Burlingame, San Mateo, and Hillsborough. When I say protected, I mean that it is protected from the standpoint of buyers wanting to buy into these areas.

I personally have eleven buyers ranging from $850,000 - $3,500,000. The number of transactions in these areas is down 40% from last year. Prices are ever so slightly higher in Burlingame in the popular Easton Addition, while the same is true for San Mateo Park and Hillsborough.

So, the question is, why is there so very little inventory? What is keeping sellers from coming to the party? What are they waiting for?

Perhaps they simply need to know that "YES, we have buyers!”

What's Really Going On

BillGilmartin — Tue, 06 May 2008 00:00:00 -0600

What an interesting world we live in, especially in Residential Real Estate.

Has the roof caved in?

Has the floor fallen out from underneath the residential market?

In some areas and for some people, it has. These are the folks who either purchased or refinanced their real estate with “Funny Money” loans.

These are people who purchased homes with zero down payment with very low interest rate “teaser” loans. These are loans with starting interest rates of 1% or 2% that quickly jump up to 7%+ and are now strangling these home owners.

It’s no mystery that these folks are having problems. Everyday the national television and print news media outlets scream ‘gloom and doom.’ Unfortunately this constant bombardment from the news media is caused by the relatively small number people with these funny money loans.

What is the effect of all this?

In the vulnerable areas, the effect is two-fold:

#1 First time home Buyers and other Buyers of modest means are struggling to obtain a loan to purchase a home.

#2 Solid equity homeowners residing in modest neighborhoods that attracted 1st time homebuyers with these funny money loans are experiencing a devaluation of their homes.

What about the rest of the world, especially well-located Peninsula homes?

The market remains strong in well-located neighborhoods that attract the solid down payment Buyers. In these locations we are continuing to experience multiple offers on homes, especially the homes that are in good condition and are priced appropriately.

Homes on the Peninsula in prime locations in Millbrae, Burlingame, San Mateo and Hillsborough are attracting Buyers and they are selling at a steady pace.

Once again it proves the old adage in real estate; Location, Location, Location.

San Mateo County: Best of Tour 4/29/08

DanGilmartin — Tue, 29 Apr 2008 00:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, April 29th 2008 in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value!

In total I viewed 15 homes throughout the cities I listed above and found 1419 Montero Ave. in Burlingame listed for $2,775,000. This 5-year old, approximately 4,000 sq. ft home features 5 bedrooms, 4 full and 2 half baths, a spacious family room, and an office/home theater with a 9 ft. viewing screen & 7 surround sound speakers.

Other features of this home include leaded glass windows, columns that separate formal living & dining rooms, a chef's professional eat-in kitchen with stainless Thermador & Sub-Zero appliances, and Costa Esmeralda granite surfaces. ++Family room with fire place & built-in media center.

When it comes to a true value proposition 1419 Montero Ave. in Burlingame wins today's Best Of Tour!

San Mateo County: Best of Tour 4/22/08

DanGilmartin — Tue, 22 Apr 2008 00:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, April 22nd 2008 in the cities of Burlingame, Hillsborough, Millbrae, San Mateo and San Bruno. The main parameter that I am looking for when previewing homes is Value! In total I viewed 23 homes throughout the cities I listed above and found 518 Craig Rd in Hillsborough listed for $2,528,000.

This 5 bedroom 4+ bath home has 3,480 square feet of living area and is situated on a level half acre. The home is nestled on a tranquil, private street, encased by grand oak trees with views of the South Bay. This is a gracious, expansive, bright, sunny, and private home in desirable Carolands, Upper Hillsborough. The interior showcases a classic, simple, elegant style, featuring 2 master bedroom suites conveniently located in separate wings. The property is tastefully landscaped, enticing, with a sunny large pool, cabanas, and private outdoor 1/2 bath. Just a short walk to West School and easy access to Hwy 280.

When it comes to a true value proposition 518 Craig Rd. wins today's Best Of Tour!

San Mateo County: Market Update 4/21/08

Timothy D.Gilmartin — Mon, 21 Apr 2008 00:00:00 -0600

This Market Update is for San Mateo County, California as of April 21, 2008. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, owner occupied detached Single Family Residences (SFR’s) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, “Gilmartin Group Market” update for April 21, 2008 is as follows:

Currently Available SFR's                 526 Homes
New Listings     (4/14 - 4/20/2008)     53 Homes
Sold         (4/14 - 4/20/2008)             46 Homes
Expired, Canceled or Withdrawn        21 Homes
Net Inventory Change over week      (34 Homes)

If you have been following along, you noticed that I missed last week ending 4/13/2008. That week much like the one before saw new listings soar, especially in the southern portion of the selected market, with 91 new listings while new sales totaled 47 and expired, canceled and withdrawn listings totaled 34. Inventory was up by a net total of 10 new homes. This is normal for the market through this time of the tear. “Everyone” sells in the spring which leads to increasing supply usually through the middle of June.

This week, possibly due to April 15 (tax day), inventory growth slowed, while sales along with expireds, cancels and withdrawns lead to a reduction in total inventory. This is somewhat of an anomaly for this time of year. Market trends, though, often start with an anomaly in the market. Stay tuned, if this becomes a trend we will see the market shift toward the sellers.

Based on this information prices in San Mateo County should remain stable to soft.

Check weekly to get your San Mateo County, Gilmartin Group, “Monday Morning Market Update” or better yet, sign up for our RSS feed to have our blogs emailed to you!

San Mateo County: Best of Tour 4/15/08

DanGilmartin — Tue, 15 Apr 2008 00:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, April 15th 2008 in the cities of Burlingame, Hillsborough, Millbrae and San Mateo. The main parameter that I am looking for when previewing homes is Value! In total I viewed 18 homes throughout the cities I listed above and found 505 Aragon Blvd in San Mateo listed for $1,599,000.

This home has 3 bedrooms and 2 1/2 bathrooms with a total of 2,360 square feet of living space, on a 5,500 square foot lot. This traditional Aragon Home has been beautifully maintained and tastefully updated! This home features a remodeled kitchen with breakfast nook, family room, beautiful yard, formal dining and living room with wood-burning fireplace and beamed ceilings, spacious master suite and more!

When it comes to a true value proposition 505 Aragon Blvd. wins today's Best Of Tour!

San Mateo County: Market Update 4/7/08

Timothy D.Gilmartin — Tue, 08 Apr 2008 00:00:00 -0600

This market update is for San Mateo County, California as of April 7, 2008. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (sfr’s) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, “Gilmartin Group Market” update for April 7, 2008 is as follows:

Currently Available SFR          504 Homes
Sold         (3/30 - 4/06/2008)      39 Homes
New Listings     (3/30 - 4/06/2008)     80 Homes
Net Inventory Change over week      12 Homes

If you are following along with the math above and comparing to last week, you probably have some questions. For instance, How can there be 39 sales and 80 new listings, and yet the net inventory change by only 12 homes? The answer: Another symptom of the market and sign of unmet seller expectations. Last week, in the study area mentioned above, (selected San Mateo County cities), 29 sellers decided to withdraw their home, cancel their listing, or their listing expired from the market.

New listings soured over last week with 80 new sellers (up from 66) over the past week, while sales slowed from the previous week to 39 (down from 44).

The spring is when most sellers’ decide to sell. In real estate the spring begins April 1. I expect to see inventory continue to grow right on through the middle of June, while demand should hold steady. New government sponsored loan limits may help with the summer selling season by increasing the ability to demand.

Based on this information prices in San Mateo County should remain stable to soft.

Check back weekly or better yet, subscribe to our feed to get your San Mateo County, Gilmartin Group, “Monday Morning Market Update.”

San Mateo County: Best of Tour 4/2/08

DanGilmartin — Wed, 02 Apr 2008 00:00:00 -0600

This Best Of Tour consists of the homes I viewed on Tuesday, April 1st 2008 in Burlingame, Hillsborough, Millbrae and San Mateo Ca. The main parameter that I am looking for is Value! In total I viewed 20 homes throughout Burlingame, Hillsborough, Millbrae and San Mateo. I found 1280 BUCKINGHAM WAY in Hillsborough with an asking price $2,579,000. This four bedroom 2 1/2 bath home effortlessly blends 3,117 square feet of traditional design with a contemporary flair.

The home has been beautifully upgraded and offers California living at its best! The well-appointed interiors are accented with crowned moldings, hardwood floors, and recessed lighting, with custom built-ins in the living and family rooms & a stylishly remodeled kitchen. The exterior is lushly landscaped with sweeping lawns, pool, spa and two sun-drenched patios. One can easily spend $2,579,000 in Burlingame for a home with no backyard or they can live in Hillsborough in this fantastic home and take advantage of the great Hillsborough school system.

When it comes to a true value proposition 1280 BUCKINGHAM WAY wins today's Best Of Tour!

San Mateo County: Market Update 3/31/08

Timothy D.Gilmartin — Mon, 31 Mar 2008 00:00:00 -0600

This market update is for San Mateo County, California as of March 31, 2008. This market includes the cities starting with San Bruno to the north, Millbrae, Burlingame, Hillsborough, Foster City, San Mateo, Belmont and San Carlos. *Note this is not all of San Mateo County but a selected market. This market has a population of approximately 275,000 people with a total number of households approximating 112,000. Of these, Owner Occupied detached single family residences (SFR’s) total approximately 60,000 houses. These statistics are important in understanding the current market.

The Monday morning, “Gilmartin Group Market” update for March 31, 2008 is as follows:

Currently Available SFR 492 Homes 0.82% of total SFR in Market

Sold (3/24 - 3/30/2008) 44 Homes 0.07% or 8.94% of Inventory

New Listings (3/24 - 3/30/2008) 66 Homes 0.11% or 13.4% of Inventory

Net Inventory Change over week 22 Homes added to inventory

Regardless of market news and information, take a moment to digest the statistic above. Less than 1% of the total number of homes in the market are for sale. Of those for sale, almost 10% sold last week, which would exhaust the supply of available homes in ten weeks, yet as always, people decided to sell their home last week as well. As a matter of fact, more people decided to sell than were able to sell leading to an increase in the total market of inventory. This is normal for the spring. To add a comparison, last year at this time there were only 300 homes for sale and 64 homes sold in the previous week. Obviously March of 2007 was a stronger market than today.

Check back weekly, or better yet subscribe to our feed, to get your San Mateo County, Gilmartin Group, “Monday Morning Market Update.”

There is a Difference!

MaureenGilmartin — Fri, 28 Mar 2008 00:00:00 -0600

At the Gilmartin Group meeting we discuss what we can do to make the most out of this market for our clients and for ourselves. Our job is to use the negotiating skills we have acquired through personal coaching and the experience we’ve had while handling more than 5,000 real estate transactions for the past 45 years in business.

We invite our clients to hold The Gilmartin Group accountable to do what we say we will do. Not only do the Gilmartins do the regular marketing of mailers, TV commercials, newspaper & online advertising, and hold open houses but we also promise to talk (collectively) to 60 people a day from the vast Gilmartin database to find a buyer for your home.

There is a difference! The Gilmartins have six people rather than one. The Gilmartins have the largest marketing budget and know exactly where to market and when it works. Experience and Accountability in a changing market has brought the Gilmartin Group through many different Real Estate markets. Call us today: 650.348.2020

Real Estate in 2008...

MaureenGilmartin — Fri, 28 Dec 2007 00:00:00 -0700

Real Estate in the year 2008….

…will be like riding a bucking bronco. But as they say “Tough times never last, but tough people do!” And, I intend to be tough.

How you might ask? By making 22 contacts a day!   I pick up the phone and ask questions like,
“Who do you know that would like to move into your area?”
“How long have you lived at this address?”
“If you were to move, where would you go?”
“Do you want to be moved in 3 months, or would you rather start selling at that time?”

These questions helped our family, The Gilmartin Group, sell over $120,000,000 of real estate in the year 2007.

I look at HOMES everyday for two hours.   I know everything on the market. I know every nook and cranny of the marketplace.

Our group has access to the best stagers, carpenters, floor mechanics, window mechanics, electricians; and they get the job done quickly.

We do everything in our power to price your home at a price that will cause it to sell with more than one offer.   And, that is no easy task, since most sellers want to price their home way too high. By the time your home goes on the market most of the negotiating has already been done.

You are informed each day of any activity going on in the market whether you are a seller or a buyer.

I am your guide dog sniffing out those secret deals in San Mateo County. I am available 24/7. Feel free to call my cell phone anytime: 650-796-3974

In this marketplace you are the star.    We make sure that your home looks the best, your home is the most exciting, and your home is the one with the buzz.

I can’t wait to make you shine! If you are reading this you’re already feeling special because you know that our family is looking out for you. Your decision to call the Gilmartin Group is a decision that makes our past clients say,
“The Gilmartins are the ‘go to’ guys.”
“They watch your back.”
“They make it seem so simple.”
“They are clearly the A team.”
“They listen to what your needs and expectations are and use your time wisely.”
“If asked what they could have done better, the answer would be honestly “nothing!”

When you choose our family group to represent you, you’ve chosen the group that understands the goal of every seller - ‘THE MOST MONEY IN THE SHORTEST AMOUNT OF TIME!’

DON’T LET THE YEAR 2008 SCARE YOU! WE CAN DO IT.

GIVE US A CALL AT 650-348-2020!

HAPPY NEW YEAR! LET’S RIDE THAT BRONCO TOGETHER!

MAUREEN GILMARTIN
THE GILMARTIN GROUP

“LET OUR FAMILY HELP YOUR FAMILY FIND THE RIGHT HOME”

San Mateo Home Sales Up in November

DanGilmartin — Thu, 27 Dec 2007 00:00:00 -0700

Sales of single-family, re-sales continued to rise in November in San Mateo County. Sales gained 2.9% from the month before, but were down 28% year-over-year. Year-to-date, home sales are down 15.6%.

The median price for homes in San Mateo County dropped 11.2% from the month before, up 5.5% compared to last November. The average price fell 8.1%, up 4.9% year-over-year.

The median price for condos fell 5.5% to $585,000, good for an annual gain of 11.3%. The average price was up 7.3% to $608,147, up 7.3% year-over-year.

Condo sales fell 4.7% from October, and were off 35.7% year-over-year. Year-to-date, condo sales are down 24.4%.

Inventory of homes finally started to fall, with single-family homes down 7% from October and up 35.7% year-over-year. Condo inventory was down 7.3% month-over-month, and up 29.6% compared to last November.

San Mateo County Home Sales Bounce Back in October

DanGilmartin — Thu, 15 Nov 2007 00:00:00 -0700

Home sales rebounded in October from a dismal September. Sales of Single-Family, re-sale homes rose 4.2% from the month before, but were down 31.9% year-over-year. Year-to-date home sales are down 14.4%.

The median price for homes in San Mateo County rose 14% from the month before, up 21.8% compared to last October. The average price rose 8.6%, up 19% year-over-year.

The median price for condos gained 3.4% to $619,000, good for an annual gain of 8.6%. The average price was up 9.4% to $661,528, up 10.3% year-over-year. Condo sales fell 5.6% from September, and were off 37% year-over-year.

Inventory of homes has continued to rise, with single-family homes up 1.7% from September and up 20.6% year-over-year. Condo inventory was down 1% month-over-month, and up 24% compared to last October.

San Mateo County Home Sales Fall in September

DanGilmartin — Thu, 08 Nov 2007 00:00:00 -0700

As expected, the credit crunch had a big impact on sales last month. Sales of single-family, re-sale homes fell 28.8% from the month before, and were off 33.7% year over year. We expect sales to be slow this month, then start to recover at the end of the quarter as the credit crunch is alleviated.

The median price for homes dropped 3.5% from the month before, but is up 10.3% compared to last September. The average price rose 4.8%, up 14.7% year over year.

The median price for condos fell 0.3% to $598,500, good for an annual gain of 11%. The average price fell 8.7% to $604,466, up 4.5% year over year.

Condo sales fell 23.1% from August, and were off 32.8% year over year.

Inventory continued to grow, with single-family homes up 4% from August and up 10.8% year over year. Condo inventory was up 2% month over month, and up 16.8% compared to last September.

How to Get Multiple Offers in Today's Market

DanGilmartin — Mon, 29 Oct 2007 00:00:00 -0600

The three most important issues in selling Real Estate are:

1) Seller’s motivation
2) Price of the home
3) Getting your home prepared to go on the market

This is no time to test the market. Home sellers must have a real purpose for why they want to sell. Examples of this would be a job transfer, needing a larger home, or wanting a better school district for their children.

Price has been and always will be an important factor. Pricing homes in San Mateo County is more of an art than a straight-line equation. The question is "what is the best price we should use to get this home sold for top dollar?" We understand that no one wants to under price their home, but the worst thing a seller can do is over-price their home. I recently experienced a home selling for over its asking price in Burlingame, California. The sellers lived in the home for 2 years and bought the home for $1,000,000. They put in new granite, recessed lights, new paint and kept it very clean. They put the home on the market for $998,000!

Nine days later they had FIVE OFFERS which resulted in a sales price of approximately $82,000 over asking! By listing their home at $998,000 they put themselves in a position that gave them options, which ultimately made the process of selling their home a lot easier.

The bottom line is either you’re HOT or you’re NOT. When putting your home for sale in this market you need to make sure that everything looks great. Now, more than ever, it’s important to have fresh paint, gleaming floors, and nice landscaping. It is also very important to keep your home extremely clean, stage it if possible and have your inspection reports up front. What ever you can do to make your home more HOT, do it!

Investment Real Estate in San Mateo County

Timothy D.Gilmartin — Fri, 26 Oct 2007 00:00:00 -0600

While the market teeters in uncertainty there is one sure thing, people need a roof over their head. The latest mortgage (subprime) scare has increased the cost of money and reduced the supply (options) for new financing and/or refinancing. This all translates to increased cost to own a home. In San Mateo County the cost is already astronomical, yet residential rentals have lagged far behind the market. I predicted an increasing rental market during a luncheon last September (2006) that I expect to see continue unabated through next September (2008) wherein the rents will increase by 50% over the 9/2006 levels. Interestingly, this is happening as I write this, yet only those owners who are acting aggressively are learning of the new demand. Sale prices have remained stable over the past 12 months while rents have increased by at least 25% which provides an strong, short term opportunity to obtain property in San Mateo while the increasing rents are not being fully (or over) factored into the price.

The best investment opportunity in San Mateo County Real Estate is in Residential Rental (Apartment) Buildings. Rents that were obtained during the "dot com" boom have still not been reached. My expectation is that rental rates will break through old highs sometime before the end of the 2nd quarter of 2008. From there, given current costs of occupancy, rents could explode with one bedroom one bath units reaching $2,000 per month on average. These rents will make the current $175,000-$200,000 per unit price seem very cheap.

Why apartments investments in San Mateo County now? The cost to own a home has gone through the roof during the current cycle, while the cost to rent is still lower now than at the beginning of the cycle. As cycles go, what goes down must go up and vice versa. Rents are now on there cyclic push to find a new high level. Add this trend to the fact that over the past 25 years, the interest rate for apartment buildings has seldom been lower than today. Moreover, the opportunity to obtain a fixed rate loan for an apartment building in a market of increasing income has very positive implications.

San Mateo County as a Real Estate investment location has all of the classic ingredients for an extraordinary market: limited land, a strong labor base, excellent transportation system, highly educated work force, coastal proximity, mature economy, significant barriers to entry, exactly between San Francisco and Silicon Valley and more.