There was some debate today amongst my collegues as to which home we saw was the shiny penny on tour.

I liked the home at 221 Grand Street in Redwood City listed for $899,000 and several others also liked the home on 262 East Oakwood Boulevard in Redwood City listed for $799,000.

I preferred the Grand Street property for the superior location and the stunning craftsman character and attention to detail.

This home on East Oakwood [who’s circular street used to be a dog race course BTW] is a very nice home handsomely updated with an awesome yard too (offers a week from today).

Call us if you are interested in either of these homes as neither will probably last very long.

Drew & Christine Morgan, RELATORS with RE/MAX Star-Carlmont

1940 Ralston Avenue Belmont, CA 94002 (650) 508-1441 info@morganhomes.com

What was the profile of the average home that sold in Belmont last year?

• The average home which sold had three bedrooms, two baths was 1,925 square feet in size and was located on a 6,430 square foot lot

• It sold for $879,450 in 44 days

BELMONT STATISTICS for 2011

• There were 186 single family home sales in 2011

• The average time a home was on the market before the seller received an offer was 44 days

• 32% of Belmont homes sold over the asking price in just 19 days

• 11% sold at the seller’s asking price in 29 days

• 57% sold under the asking price and took 60 days to do so

• 103% was the percent of the asking price the sellers received who sold their homes in 19 days

• 96% was the percent of asking the sellers whose homes were overpriced received in 60 days

It becomes abundantly clear that the last thing any seller should want to do is overprice their home, yet more than half of the homes sold in 2011 were overpriced. These sellers also had to lower their asking price by on average $61,000 and then received 7% less for their homes than ones priced correctly.

If you are considering selling your home this year, choosing a local agent who knows the values in Belmont and then of course listening to what they tell you will go a long way towards putting more money in your pocket.

The information contained in this article is educational and intended for informational purposes only. It does not constitute real estate, tax or legal advice, nor does it substitute for advice specific to your situation. Always consult an appropriate professional familiar with your scenario.

Undeniably the best deal today was this home on Hamlet in San Mateo offered by Patriott Properties. It's a bank owned home and they are ready to deal. Listed for only $439,900 we suspect it won't last until the weekend.

On a side note, the Best of Tour home from our Shiny Penny Tour last week that is hearing offers tomorrow, is up to 27 interested parties. We'll post the actual sale price as soon as we find out--stay tuned...

The information contained in this article is educational and intended for informational purposes only. It does not constitute real estate, tax or legal advice, nor does it substitute for advice specific to your situation. Always consult an appropriate professional familiar with your scenario.