How's Belmont & San Carlos?


#21

I agree. I think a friend of mine got his place in Burlingame for 2m a few years back (REO days) and now it is worth 3.5m at least.


#22

The most surprising rise is Menlo Park. East Menlo Park used to be at the same league as EPA, but itā€™s now around 1.2M. I casually considered East Meno Park during the downturn, but was concerned about its safety.

But Menlo Park is the most logical PA spillover. If East Menlo Park changes, Menlo Park school could be really good


#23

I think you picked the wrong school in Belmont. Central is close to the lower priced area near El Camino. Fox Elementary is a better representative of the area near 92 and Ralston.

http://api.cde.ca.gov/Acnt2013/2013GrthSchDem.aspx?allcds=41-68866-6043459

Asian is 25% there.


#24

Daly City is 55% Asian, must be the #1 in Peninsula. (33.2% were Filipino, 15.4% Chinese)

Even Pacifica has 18% Asian. I drove around Pacifica and really like the city. Why is Pacifica not very popular?


#25

Gotcha. I picked Central based on the house above. Fox seems better.

Also, I have seen a few houses in Belmont with Zillow chart showing high end of 2015 and weakening in 2016 & 2017.

https://www.zillow.com/homedetails/2711-San-Miguel-Way-San-Carlos-CA-94070/15557598_zpid/
https://www.zillow.com/homedetails/1508-Winding-Way-Belmont-CA-94002/15548269_zpid/


#26

Interesting!! Is it real or is it just Zillow?


#27

I am wondering the same too. But I donā€™t see Zillow charts like that for South Bay neighborhoods I was looking at.


#28

My biggest problem with hilly areas is the lack of good size backyard. Especially important for families with young kids. No, decks donā€™t cut it.


#29

In the good old days windy streets meant more valueā€¦Flat lands had higher crime and lower values. .Now with the Starbucks effect everyone wants a high walk scoreā€¦Meaning that the potential for price gain is greater in the long run for the hillsā€¦especially view properties


#30

Right now the flats of San Carlos are very expensiveā€¦Especially White Oaksā€¦PA wannabesā€¦snobs without a causeā€¦lol


#31

Foggier and less convenient compared to Daly City.


#32

Couple more I found for Belmont in the flat area (still West of El Camino) that show peak in Dec 2015. First one reduced price back in Oct and sold about 80K less than original asking.
https://www.zillow.com/homedetails/1424-Fifth-Ave-Belmont-CA-94002/15550329_zpid/
https://www.zillow.com/homedetails/950-Broadway-Belmont-CA-94002/15550314_zpid/


#33

This house in PA peaked in July 2016 according to Zillow. Are we onto something??

https://www.zillow.com/homes/for_sale/Palo-Alto-CA/19501522_zpid/


#34

I lived on 5th aveā€¦Broadway and 5th are among the least most desirable parts of Belmontā€¦Train noise, El Camino noiseā€¦Small old crap shacks, some mutli family, mixed areaā€¦Good walk score, thoughā€¦I sold my house on 5th for $180k in 1985ā€¦To an investor as a duplex rentalā€¦had a bay view and and an illegal second unitā€¦5th may look flat on the map, but it is notā€¦My house was on a slopeā€¦The back sloped down to an alleyā€¦So each unit faced a different streetā€¦Should have keep itā€¦Would be worth maybe $1.5m, sold for $1.425m a year ago, 3/2, 2000 sf including in law unitā€¦Rent potential $5k ?..Maybe $1200 in 1985ā€¦Traded into a house in the hillsā€¦Bigger lot, quiet, trees, deerā€¦beautiful. .Sorry you can have your walk scoreā€¦I would rather have peace and quiet.


#35

Belmont and San Carlos are nice cities. They supposedly have good schools, Carlmont is reportedly an excellent high school. San Carlos has a nice downtown with terrific restaurants, though parking is tough. Yes, the hills can be a freaking PIA. Every time I visit a property in the hills, Iā€™m more scared to live in them. Nearly lost my car over the side of the road because it was so steep my brakes werenā€™t working well enough. Buy one of those houses, you may need to buy a truck to drive there. You need to consider landslide potential and whether you can have a backyard/garden or if youā€™re ok with just a deck. Views will be awesome.


#36

I think it was @Jil mentioned above Belmont has some good sales during the down run. Maybe things are not as hot as in South Bay there.

@Elt1this one has huge lot, do you think it has value with asking price. House has original plumbing, wiring and needs new roof and basically some deferred maint.
https://www.zillow.com/homedetails/950-Broadway-Belmont-CA-94002/15550314_zpid/


#37

My friends used to hold TH and SFH in San Carlos & Foster city which they bought pre-2008. It went down bigger level ( I do not remember exact percentage ) than the comparable homes of Cupertino. They were unable to get it refinanced, but did not go to short sale. They were holding it with rental loss and now they are happy to continue as the homes are super hot nowadays and rent is cash flow positive.


#38

As Jil indicated - This was one reason I did not continue looking in the peninsula. The price drop for these places will be much more in a downturn than the usual fortresses.


#39

Huge lot for that broadway house. But what about the middle school ?


#41

Manch, is there any way to turn off the fact that posts canā€™t be immediately deleted? Seems weird to let them stick around ā€œin case theyā€™re flaggedā€. Unless youā€™re collecting data on all of our deleted posts :slight_smile: