Best and Worst Neighborhoods in the Bay Area

May 15th, 2013 by alex No comments »

The San Francisco Bay Area is a relatively large place with several different counties, many different cities and even more neighborhoods. Which ones are the best or worst depends somewhat on your point of view, but there are some basic standards most people can agree on. Crime, cost, easy access to areas with a lot of jobs, etc.

Best Neighborhoods:

 

1. Willow Glen, San Jose

Willow Glen is a neighborhood in San Jose. It is located near the downtown, but remains more of a suburb than the busier streets just a few minutes away. Like most of Santa Clara county, San Jose housing prices are relatively high. However, Willow Glen represents one of the best neighborhood options at a reasonable price for those who can afford it.

2. Walnut Creek

Residents swear that Walnut Creek is the most perfect place on earth to raise a family. Reasonably priced homes, a good safety record and a mid-length commute to the city make it a suburban wonderland. It can get hot, though!

3. San Carlos

Like Willow Glen, San Carlos has a heftier price tag than some of the places on the “worst neighborhoods” list. However, it also features proximity to the city, reasonable if high housing prices and a safe, suburban environment. It has two distinguished middle schools and although it does not have its own high school, sends its students to some of the top high schools in the area.

Worst Neighborhoods:

 

1. Oakland City Council Districts 3, 6&7

Oakland has been the murder capital of the country multiple times, and these are the parts of the city that live up to their reputation. District 3 is in West Oakland, and districts 6&7 are in East Oakland. Combined they contain 72 percent of the city’s homicides but only 44 percent of the population.

2. East Palo Alto

East Palo Alto, or EPA as it is known locally, is a hotbed of crime. Because it is one of the lowest-cost areas in an expensive region, it is populated with many families, but it struggles with drug and gang activity. Although there have been significant attempts to clean it up, there are still regular shootings in the area.

3. Richmond

Located near Oakland, Richmond has a reputation of its own for violent crime. In 2010 it was the second most dangerous city in California and the third most dangerous in the country. People traveling through the area have been known to go miles out of their way simply to avoid driving through it, which seems a little overboard. However, it probably isn’t an ideal place to live.

Sunnyvale and Cupertino 2013 Outlook

March 25th, 2013 by Ilya D. No comments »

This chart demonstrates monthly trends of transaction volume and average price per square foot for single family detached homes in Sunnyvale and Cupertino from March 2010 through March 2013.

March has not ended, but the trend is clear, the anual cycle of monthly transactions hits bottom every December and January, and reaches its highest point between April and June. The red line represents the number of pending sales each month, and the green line shows the number of sales that actually close. Evidently, pending sales precede closes, and therefore they are an important leading indicator for determining whether the volume of monthly sales is on an up or down trend. This March (2013) we are seeing an increase in the number of pending transactions, which is proportional with seasonal expected increases. With the extremely strong buyers’ demand the peak of the transactions trend this year will be determined by how many new listings will be introduced by sellers during this spring.

View just listed Sunnyvale listings on LocalVector.com

View just listed Cupertino listings on LocalVector.com

Cupertino and Sunnyvale New Listings

March 23rd, 2013 by Ilya D. No comments »


New listings in Sunnyvale and Cupertino over a 3 year period.

The cyclical seasonal trend tells us that between April and June each year many new listings are listed by sellers.
Comparing 2010 with 2011 and 2012, the annual number of new listings added to the market has been decreasing overall.

Comparing January and February in three years: 2011, 2012 and 2013 the number of new single family detached homes listed in Sunnyvale and Cupertino in those two months combined has been 186, 156 and 110 respectively. This amounts to a 30% decrease in new listings from last year.

Based on the data so far in March 2013, we are seeing an improvement in the inventory’s trend particularly in Sunnyvale.
One could speculate that we will see a lot of new listings to choose from by the middle of April.
This would be great news for buyers who are tired of the limited choices when looking for the right property for over one year in this market with limited inventory.

Cupertino and Sunnyvale Current Market Trends

March 23rd, 2013 by Ilya D. No comments »

This chart demonstrates “sell/ask” ratio trend for single family detached homes in Sunnyvale and Cupertino.

The sell/ask ratio is calculated by dividing the price of a sold home by its listing price immediately before the sale and multiplying the result by 100 to get the percentage. The average sell/ask ratio is derived by dividing the sum total of all selling prices in a month by the sum total of all listing prices in that month.

An average sell/ask ratio of 100% indicates that overall listings sell for the asking price. When the ratio is above 100% it often means that demand exceeds supply in a market, that there are multiple buyers submitting offers for most properties, and that buyers are paying on average more than listing prices.

As the chart above demonstrates, in Cupertino and Sunnyvale homes are bought for above asking (listing) prices since last spring (March 2012) after at least two years of buying homes at asking prices. Last month in Sunnyvale the sell/ask ratio had exceeded 110%!

 



Top 5 Neighborhoods and Streets in Pebble Beach, CA

March 12th, 2013 by christopher No comments »

 

 

Pebble beach is often recognized for its world class golf course and its stunning ocean vistas. Hidden between the old grown trees there are communities that have popped up taking advantage of the gorgeous location, and climate of the area. The following chart will display top 5 Neighborhoods in Pebble Beach, CA by real estate listings. Click the link on specific neighborhoods for more detailed information about the listing.

Neighborhood Number of Listings
Central Pebble Beach 34
Country Club West 12
Lodge 10
Country Club East 10
Upper Forest / Ocean Pines 5

 

The LocalVector.com Real Estate Engine! also allows you to search street by street for even more in depth information about areas you may be interested in. The following is a list of the top 5 streets in Pebble Beach, CA by real estate listing. Click any of the links to be directed to that streets community page on LocalVector.com

17 Mile Drive
Flavin Lane
Riata Road
Padre Lane
Sloat Road

Santa Clara and San Mateo County Market Update

March 3rd, 2013 by christopher No comments »

For more information about REOs, Short-sales, and Resale’s click this image to visit the LocalVector.com Buy Page.

 

Inventory

Inventory is surprisingly Low. There are only 2047 active residential listings in all of Santa Clara and San Mateo Counties combined. These are record low numbers.

There are currently 48 fixer uppers in Santa Clara and San Mateo Counties. If you are interested in purchasing a fixer upper contact LocalVector.com we have the local knowledge and bay area contacts you will need.

Distressed properties in Santa Clara and San Mateo Counties is currently at about 7% (down from 10% in the Fall of 2012)

Impact

So what does all this mean to you? If you are interested in selling this is a classic sellers’ market. If you are interested in buying the data suggests that prices should be steadily rising.

During the recession the Real Estate market was dominated by short-sales and foreclosures. These types of sales are virtually non-existent in the current market.

What “Sell/Ask Ratio” currently is in Hillsborough and Burlingame?

March 3rd, 2013 by Ilya D. No comments »

Prices are rising, multiple offers are pushing sale prices above asking. This season we should see a spike in the average monthly Sell/Ask ratio for single family homes reaching record levels since 2007. In February 2013 the average Sell/Ask ratio was 101.55% on all detached homes that were sold in Burlingame and Hillsborough.

For more information about properties for sale in Hillsborough and Burlingame please visit our site:
See just-listed homes in Hillsborough
See just-listed homes in Burlingame

Call your agent to find out more about Sell/Ask.
More about Hillsborough and Burlingame

Top 20 Most Expensive Homes on LocalVector.com!

February 5th, 2013 by christopher No comments »

At LocalVector.com we are all about giving you the information you need you make the Real Estate decisions that matter to you. Part of that is keeping you up to date on Bay Area housing prices and what you can get for your money. We have previously offered articles on topics like The Best Neighborhoods in San Jose, and The 8 Cheapest Residential Properties

Today’s listing will feature the 20 Most Expensive Homes currently in LocalVectors service area. Follow the links on the table for even more details about these properties.

 

County City Most expensive home price
San Mateo Woodside $85,000,000
San Mateo Hillsborough $38,500,000
San Mateo Atherton $34,888,000
Monterey Pebble Beach $27,900,000
Santa Clara Morgan Hill $26,000,000
Santa Clara Los Gatos $19,995,000
San Mateo Portola Valley $19,950,000
Santa Clara Los Altos Hills $19,500,000
Monterey Carmel $19,200,000
Monterey Carmel Highlands $18,500,000
Santa Cruz West Santa Cruz County $15,500,000
Santa Cruz East Santa Cruz County $14,975,000
Santa Clara Saratoga $14,888,000
Santa Clara Monte Sereno $11,888,000
Monterey Pacific Grove $11,500,000
Monterey Big Sur Coast $10,800,000
Santa Clara Los Gatos Mtns $8,995,000
Monterey Carmel Valley $8,500,000
Santa Clara Palo Alto $6,985,000
Santa Cruz Los Gatos Mtns SCZ $6,850,000

 

To see complete details for these properties search for the listed city or county on LocalVector.com and sort by price “highest first.”

Bay Area Housing Market Update February 5

February 5th, 2013 by christopher No comments »

The New Year has already brought significant momentum into the Bay Area Housing Market. We reported on inventory status’ in the local markets in our previous Bay Area Housing Market Update article.

February metrics so far affirm some trends we had previously predicted. As expected, inventories of homes for sale has begun to grow in San Mateo and Santa Clara Counties.

In San Mateo County the count of single family home and condo listings for sale has increase from 370 one month ago today.

A 21% increase in inventory.

Similarly in Santa Clara County the count of single family home and condo listings for sale has increased from 652 one month ago to 801 today, which is approximately a 23% increase in inventory.

 

 

In September 2012 Ilya Dorfman predicted the following trend in Santa Clara and San Mateo Counties, which was posted on LocalVector.com (http://localvector.com/sell/):

“From January of 2010 through the second week of August there were 9,485 closed transactions in Santa Clara and San Mateo Counties. There were 9,364 for the same period in 2011, virtually no change from the previous year. This year there were 10,126 in the same period, more than 8% increase. If this trend continues we can expect roughly 16,350 transactions closed in both counties by the end of this year, 1,230 total transactions more than last year.”

Now that 2012 has closed we see that his prediction was pretty much spot on!

A total of 16,376 residential transactions have closed in 2012, which is a 1,262 increase over the previous year.

Top 5 Neighborhoods in San Mateo, CA

January 21st, 2013 by christopher No comments »

To complement our last post on the top neighborhoods in San Jose the LocalVector.com team would like to present the Top 5 Neighborhoods in San Mateo, CA. Similar to before, the chart below will show the top5 neighborhoods in San Mateo by listing count. Keep scrolling down for a brief description of each neighborhood.

 

Neighborhood Number of Listings
Eastern Addition/Downtown Area 20
Hayward Park 9
San Mateo Park/El Cerrito Park 5
Baywood/Parrott Park 4
Bowie Estate 4

 

Eastern Addition / Downtown Area

The downtown San Mateo area is an elegant mix of the old and the new. It features galleries, restaurants, festivals and retail shopping, while retaining the classic Spanish architecture that is a mainstay throughout California. There is a sprawling farmers market that draws people from all around the bay area every Sunday.

Hayward Park

The Hayward park neighborhood is best known in San Mateo for its tree lined residential district. Residents of Hayward Park also enjoy being a mere walking distance from the vibrant activities offered in the Downtown San Mateo Area. Hayward Park is also a location of many of the Bay Area’s classic vintage properties. With some homes dating back as far as 1902.

San Mateo Park / El Cerrito Park

San Mateo Park is commonly retailed for its amazing beauty and community unity. The neighborhood is not laid out in a traditional grid style, rather as a series of curving roads often featuring large beautifully landscaped islands instead of four way stops. It is considered one of the premier neighborhoods in San Mateo with homes that offer both luxury and privacy.

Baywood / Parrott Park

The Baywood / Parrot Park area offers several amenities to the discerning buyer. It is home to the acclaimed Baywood Elementary School, nearby to the state of the art San Mateo Library, and offers homes from several different architecture styles.

Bowie Estate

Bowie Estate is one of the largest residential districts within San Mateo. It is a short distance from Downtown San Mateo offering residents easy access to nightlife and shopping. Several homes in Bowie Estate date back to the 1920s and 40s offering a vintage feel to the community.