Coastside Real Estate & Lifestyles
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Serving Half Moon Bay Coastside - San Mateo County - San Francisco Bay Area - Northern California

El Granada

This midcoast community lies in the deepest part of the “half moon” bay.  Originally eyed by developer Henry Doelger to become a resort town, it emerged into a sleepy village that is now finding its own to become a desirable and close knit community.  Doelger did manage to build one subdivision called Princeton-by-the-Sea (or Clipper Ridge) but the rest of his dreams never took hold here on the Coastside.  These days El Granada offers a working harbor at Pillar Point Harbor, Harbor Village shopping and busiesses, Oceano Hotel, and somewhere off shore, the waves known as Mavericks, and the sporadically annual surf contest.

Click Here For All MLS El Granada Listings

Lower El Granada
Tree swing in El Granada CAThis neighborhood sits at the hub of the “half moon” on the midcoast.  Highlights of this neighborhood are easy access to the beaches, especially Surfer’s Beach, Princeton Harbor, and “downtown” El Granada (the Hardware Store, Post Office and Police Station).  Originally a planned community by developer Doelger, it never took off once the railroad was abolished and access improved.  There is a mixture of older homes, cottages, contemporary and traditional styles and ranch style homes.  There are lovely views from many homes and there is a mixture of flat and sloped parcels.

El Granada Highlands
Driving through El Granada, as you look into the trees toward the east, you will see the hillside dotted with homes in the “highlands”.  Most homes are on sloped lots with 2 or 3 levels to maximize the views.  Many homes are large, custom-built, and unique.  With the hills come the views.  The easiest access to the Highlands is Avenue Alhambra to Isabella to Columbus to El Granada Blvd.

Princeton-By-the-Sea or “Clipper Ridge”
Subdivision neighborhood developed in the 1970’s on mostly level lots (a few sloped lots on the upper part of Coral Reef Rd) with a great central location, nearby hiking trails, and a neighborhood park including a basketball hoop and play structure.  Annual easter egg hunt every Spring.  Princeton-By-The-Sea Homeowner’s Association.

Princeton and Pillar Point Harbor
The homes in this area are mixed in with commercial and industrial spaces.  There are also warehouses, lofts, a fitness center, and a few wholesale businesses.  Single family homes are few and far between since the area was rezoned to “commercial”.  There are three different zoning areas.  There are many rentals in this area.

Click Here For All MLS El Granada Listings

Notes:

Highway 1 Safety and Mobility Improvement Study, 2009 – present

Midcoast Community Council – meeting dates, agendas, etc.

 


2013: Low Inventory with Micro-Market Volatility

Inventory on the Half Moon Bay – Coastside in 2013 started low, quickly rose over the summer and started to retreat during the Holidays – with wild rides and slow crawls along the way.  The number of Coastside homes for sale on the MLS is low now at approximately 48.  Look more closely at what has happened this year along with the five-year perspective.

One Year – Acceptance of the New “Normal”

2013 started strong on the Coastside following an active 2012.  Spring was the strongest season the Coastside has seen since the peak of 2005-2006.  In my opinion, as a result of this upward sales price trend and the long-anticipated opening of the Devil’s Slide Tunnels in March, some sellers felt that the time was right to enter the market.  Those large numbers of new and – in some cases –  re-emerging homes for sale led to a more balanced, or even abundant inventory at times.  Balanced means that more negotiations took place, some transactions fell through, and some homes took longer than expected to sell, if they sold at all this year.  By late November, some sellers took their properties off the market.  In general the 2013 Coastside real estate market remained strong, yet volatile at times, and continues strong as we head into 2014.

2013 inventory trends_Coastside

3 Years:  Finding Our Footing

The three-year history illustrates the recurring 2013 news headline you may have read – “low inventory”.  You can see the “hot” Spring 2013 market along the red dotted line in the graph below.  In my opinion, the reason for our crazy spring market is because buyers noted that this was the first Spring following a full year post-recession and some were exploring the Coastside when they found they could not get what they wanted (in some cases fast enough) on the Peninsula.  Some call this the “spill-over effect”.

3-years inventory trends coastside

5 Years:  Unsustainable to Measured Growth

The five-year history for the Coastside shows that inventory is relatively low overall.  You can see that compared to the recession years, inventory is still very low.  The spike in the First Quarter of 2009 follows the financial crash of September 2008.  The local market was extremely limited and slowly improved as borrower qualifications gradually loosened, loan products became available again, the job market improved, and perception of a healthier economy took hold.

5-year inventory trends coastside

The Coastside is generally a balanced market right now – fluctuating between buyer and seller advantages depending on several factors (e.g. current competition in the neighborhood, competition in the price point, competition in the style of home, time of year, purchase loan rates, pricing/presentation/condition).

Some specific examples of the Half Moon Bay-Coastside strengthening real estate market in 2013:

  • A south coast property that has been on the market 4 times without selling since 2005 and sold this year.
  • A downtown Half Moon Bay property was listed 3 times without selling since 2007 and sold this year.
  • A Montara property was listed 3 times without selling since 2011 and sold this year.
  • The high end Carnoustie (Ocean Colony) properties are selling; price ranges $1.4 Million to $1.8 Million.
  • A 30+ acre parcel in Half Moon Bay had been on the market since 2009 without selling and sold this year.
  • An Oceanfront property was on the market less than a week and sold for 33% over asking price.
  • A downtown Half Moon Bay property was listed 3 times since 2011 without selling and sold this year.
  • A Moss Beach ocean view home sold in less than a week for sold for 8% over asking price.

Here is what is available now! (Pacifica, Central Coastside, South Coast single family homes).  Or visit “MLS Search“.

  1. 1 bed, 1 full, 1 part baths
    Home size: 450 sq ft
    Lot size: 5,314 sqft
    Year built: 1931
  2. 2 beds, 2 full baths
    Home size: 1,380 sq ft
    Lot size: 14,984 sqft
    Year built: 1911
  3. 4 beds, 2 full, 1 part baths
    Home size: 1,760 sq ft
    Lot size: 7,274 sqft
    Year built: 1971
  4. 3 beds, 1 full bath
    Home size: 1,040 sq ft
    Lot size: 5,000 sqft
    Year built: 1954
  5. 3 beds, 2 full, 1 part baths
    Home size: 1,380 sq ft
    Lot size: 1,001 sqft
    Year built: 1973

See all General Search.
(all data current as of 8/1/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

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‘Tis The Season To …

Home for ChristmasBUY….

42% of ACTIVE (on MLS) homes for sale between Half Moon Bay, El Granada, Moss Beach and Montara have reduced their price.

To take advantage of the potential good value here, you have to look past the amount of time the property has been on the market as a primary decision factor and get to the real story.  You could uncover a gem of a deal for YOU.

SELL ….

Then… 23 homes sold between Nov 1, 2012 and Nov 30, 2012 – a year ago.  7 out of 23 of those sales were $1 Million and up.

Average price per square foot was $371.71

69 days on market average

and Now… 16 homes sold between Nov 1, 2013 and Nov 30, 2013.   6 out of 16 of those sales were $1Million and up.

Average price per square foot was $476.60.

136 days on market average

SUMMARY ….

This market is what I call a volatile market.  Some signs seem to point to a seller’s market and others to a buyer’s market.   You could hear any of these opinions:  it’s a “balanced” or “normal”  or “transitional” market.   When you’ve done all the online research you can stand and it still doesn’t make sense, take comfort in knowing that you are not alone.  Local Realtors are on the ground 24-7 and can tell you what’s happening in real time.

Here’s a few recent real estate market scenarios (very generalized to protect the innocent):

Example 1:  A well maintained mid-century charmer seems well priced but sits and eventually offers a price reduction.  Time will tell how long it takes to sell.  I’ve heard Realtor comments saying “I can’t believe that one hasn’t sold yet.”

Example 2:  A $1.5 million dollar range home sells with two offers to choose from in less than two weeks on the market.  This in a high end market of very few sales and while others have no accepted offer yet.

Example 3:   A seller prices his home for his own needs (not the market) and it sits for a long time with no activity racking up days-on-market.   It eventually sells for about 3% off the list price when seller seems to have modified their goal (for the sale proceeds).

Example 4:  One of my listings was on the market for a little over 60 days.  When I held the scheduled open house shortly after receiving the accepted offer, a couple buyers said “I wish I hadn’t waited”.

 

Happy Holidays whether you are buying now or not!  Ho…Ho…HOme is what you make it.

 

 

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COCA: Abundance of Gift-Giving Inspiration

Doors of local talent open in our Coastside neighborhoods next weekend, November 23 and 24, between 10 and 5.  Many of our treasured artists run small businesses out of their homes.  Once or twice a year Colony of Coastside Artists (COCA) collectively opens its doors for us during the “Open Studios” event.  This is not to be missed if you are looking for artistic inspiration and/or a one-of-a-kind special gift.  Check out their website for the list of participating artists this year and download a printable map.  Here is a screencap of the map so you can see how many participating artists are involved and that they are spread out around the Coastside!  I know and admire the work of several of these individuals.

Have a fabulous week.

coca 2013

FOLLOW THE YELLOW “OPEN STUDIO” SIGNS

If you are currently looking for a home in the Half Moon Bay area, this will give you an opportunity to explore neighborhoods you may have missed so far…

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Million Dollar Market Update – Coastside Fall 2013

I just finished!

I just finished!

The high end market in Half Moon Bay is marked by Million Dollar and up homes.  We do have a few that fall into the Two Million Dollar Plus range but most are in the $1 Million to $2 Million range.  Here’s a breakdown of what the Absorption Rate looks like for this market.

Absorption Rate looks at the amount of time that is expected to sell a home if the market remains the same and no new listings are added.  It is one tool in a Realtor’s  toolbox to help a seller determine pricing strategy.  This calculation can be done for various price points, time frames, and areas.  It can also be used to help buyers in their search too.

  •  Half Moon Bay – 7.94 months needed to sell the current $1Mil – $2Mil inventory

  •  Half Moon Bay and El Granada – 9.2 months

  •  Moss Beach and Montara – 9.6 months

If you have been feeling that the million dollar homes being sold are occurring more toward town, Half Moon Bay, then you would be right.  The two neighborhoods that drive these high end sales are Miramar and Ocean Colony.  In neighborhoods like El Granada, Moss Beach and Montara, they are more spread out, driven by views, location in the neighborhood, and lot size.

Read further if you want to understand the calculation:

Timeframe:  371 days (October 1, 2012 to October 6, 2013)

Number Sold:  HMB 42; HMB & El Granada 47; Moss Beach & Montara 9

Number Active:  HMB 27; HMB & El Granada 35; Moss Beach & Montara 7

 Montara & Moss Beach Example:

Sales Rate equals TIME divided by NUMBER SOLD (371 divided by 9 = 41.22 days per home to sell)

Absorption Rate equals ACTIVE HOMES times the Rate (7 times 41.22 = 288.54 days to sell current inventory)

288.54 days divided by an average of 30 days/month = 9.6 months to sell current inventory

Another market morsel…this time with dark chocolate truffles.

  1. 3 beds, 2 full, 1 part baths
    Home size: 2,085 sq ft
    Lot size: 44.87 ac
    Year built: 2006
  2. 4 beds, 3 full, 1 part baths
    Home size: 2,504 sq ft
    Lot size: 80.50 ac
    Year built: 1982
  3. 4 beds, 3 full baths
    Home size: 3,011 sq ft
    Lot size: 8,000 sqft
    Year built: 2015
  4. 4 beds, 3 full, 1 part baths
    Home size: 4,250 sq ft
    Lot size: 10,005 sqft
    Year built: 1987
  5. 5 beds, 3 full baths
    Home size: 3,200 sq ft
    Lot size: 13,260 sqft
    Year built: 1980

See all One-Two Million Dollar Homes.
(all data current as of 8/1/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

See Half Moon Bay & El Granada on HGTV tomorrow!!

Half Moon Bay and our charming Coastside community will be featured on the national television show “House Hunters” tomorrow night July 17 at 7pm.  Tune in or record it to get a feel for what it’s like to be a buyer in our Coastside market! – and see our friends.  House Hunters is one of the real-estate-reality-shows on HGTV.  I expect you will get a glimpse why homeowners love living here.  Plus, it will be fun to see my son’s former basketball coach and an office mate on TV!

HVTV features Half Moon Bay

Here are a few homes for sale right now…

  1. 4 beds, 2 full, 1 part baths
    Home size: 1,760 sq ft
    Lot size: 7,274 sqft
  2. 3 beds, 2 full baths
    Home size: 1,510 sq ft
    Lot size: 5,300 sqft
  3. 3 beds, 2 full, 1 part baths
    Home size: 2,300 sq ft
    Lot size: 4,617 sqft
  4. 4 beds, 3 full, 1 part baths
    Home size: 4,730 sq ft
    Lot size: 10,105 sqft
  5. 3 beds, 2 full baths
    Home size: 1,450 sq ft
    Lot size: 7,492 sqft

See all Half Moon Bay Homes for Sale.
(all data current as of 8/1/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Market Morsel – Entry Level Coastside!

Our first time buyers and downsizing buyers are feeling the price squeeze.  Market activity in this price range is brisk and prices seem to be elevating our entry level market as we emerge from the Great Recession of 2008.  The bottom of the market is most likely behind us for entry level on Half Moon Bay Coastside.  Here are two images directly from the MLS of the Coastside market in the last 30 days (April 15 to May 14).

The first image is of PENDING LISTINGS up to $600,000.

Notice! . . .

  • Price per square footage is up.
  • Days on market is down.  (the 309 days is not reality because this short sale listing was in contract and then fell out; it was quickly back in contract within a few days, if that.)
  • Inventory still trickling in – usually 2-3 on the market at a time in this price range right now.
  • I believe more will be sold over asking price in this month.

The second image is of CLOSED SALES up to $600K.   These properties went into contract as far back as March or earlier.  Only 2 of the 6 sold for over asking.  “COE” means close of escrow (date).

WE’RE IN THE THICK OF THE SPRING MARKET RIGHT NOW.

30 days pending

30 days up to $600K

 

 

 

 

 

 

 

 

 

 

 

 


Here are homes for sale now on the Coastside (Half Moon Bay, El Granada, Moss Beach, Montara) up to $650,000 asking price.

  1. 1 bed, 1 full bath
    Home size: 706 sq ft
  2. 3 beds, 2 full, 1 part baths
    Home size: 1,650 sq ft
    Lot size: 5,000 sqft
  3. 2 beds, 1 full bath
    Home size: 940 sq ft
    Lot size: 5,000 sqft

See all Coastside SFH up to $650K.
(all data current as of 8/1/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

Q1-2012 vs 2013 – Half Moon Bay Coastside & Peninsula

This is a summary of the full first Quarter in 2013 compared to the same time last year for the 4 main towns of the Coastside (Half Moon Bay, El Granada, Moss Beach and Montara).  Since we all know that averages never tell the full story, I also break down some prices by neighborhood exhibiting significant price differences or changes.  The purpose of this post is to give you an overall picture of the Coastside real estate market right now compared to a year ago, and also compared to most of the closest cities Over the Hill in mid-peninsula.

For the mid-peninsula snapshot(1), I left out some towns, such as Hillsborough, south coast rural towns (Pescadero, La Honda, etc.) and north peninsula towns such as Daly City, San Bruno, etc.).  I did not include these cities because buyers looking in those areas are not usually looking on the Coastside.  However, during seller markets like the one we are in right now, we see an influx of would-be peninsula buyers, who are looking in San Carlos or Menlo Park and nearby cities, become Coastside homeowners as they search for greater values.  Of course, those buyers realize that their commute (usually there is at least one), will be somewhat longer – depending on locations.

Million Dollar Views

Here’s a snapshot of the Coastside’s Jan-Feb-March 2013.  This quarter is important to note because…

  • This year will mark the first full year of recovery in our market.  There is pend up demand on buyers, still-reluctant sellers, continued low rates –  creating some volatility as our clients begin to put the Recession behind them.  The headlines are not talking about our market – our average sales price for Q1 2013 increased about 1% from a year ago, compared to a 31% jump over the hill.  That being said, we are experiencing increased demand, some multiple offers, and very active open houses in the $699K and under list prices.  It is a good time to buy on the Coastside this year from a purely real estate market perspective.  A $300K-400K price will get the crazy activity, but a recent $600K house got one offer.  It depends on many things, as you can imagine.   Historically, Coastside market activity generally follows peninsula trends.
  • Our price per square foot has jumped 22% causing a shift in interest back to vacant land and an overall improvement in values enabling the remodel homeowners (sellers and non-sellers) to feel that the costs may be justified once again.
  • The Coastside houses are selling more quickly on average than peninsula homes if we look at days on market.  Days on Market statistics can be skewed for various reasons; for this purpose we are looking at general trends. Prospective buyers know the market and they make their move without waiting too long these days.  They also know that there is very little inventory and there is no guarantee of more inventory at any given time.  (Note:  We did see a spike in inventory in Feb/March 2013 on the Coastside).

 

The Coastside neighborhoods which had at least one sale are listed below.  I only put in the prices where I saw numbers that contribute to the story of change or to explain.  For example:  Alsace Lorraine‘s price range saw one entry level sale (Listed for $550K, sold for $450K – “short sale, house needed work” per Listing Agent remarks) this year and an oceanfront home sold last year.  You may be surprised to see Miramar‘s average numbers down a bit, but again, since this graph is dealing with small numbers it is not statistically significant.  This is just for local information.  This is a good time to buy in Miramar; same with acreage properties south of town (Tunitas Creek, Higgins Canyon, Purissima Creek Rd).   We also see a price drop in Ocean Colony when we compare this year to last year.  Yet, homes in that neighborhood are selling more quickly this year too.  The beach cottages and great family homes in lower El Granada are getting attention this year, as well as westside Moss Beach.  With the Tom Lantos Tunnels opening this spring, the big question on everyone’s mind is what impact the Tunnels will have on values.  We saw a slight uptick in the number of sales in Montara this year, so we will see if activity increases there.  I think we will see more Montara listings coming on the market this year, and those buyers will get a quaint, secluded town with easier and safer access to San Francisco and the Greater Bay Area now…

(1) Belmont, Burlingame, Menlo Park, Millbrae, Portola Valley, Redwood City, San Carlos, San Mateo, Woodside.

Data:  MLSListings, Inc.

Photography Credit:  Barbara Masek Photography

Here is what is available right now in Half Moon Bay, El Granada, Moss Beach, Montara and Pacifica…

  1. 4 beds, 2 full, 1 part baths
    Home size: 3,100 sq ft
    Lot size: 7,500 sqft
    Year built: 1985
  2. 2 beds, 2 full baths
    Home size: 1,380 sq ft
    Lot size: 14,984 sqft
    Year built: 1911
  3. 4 beds, 2 full, 1 part baths
    Home size: 1,760 sq ft
    Lot size: 7,274 sqft
    Year built: 1971
  4. 3 beds, 1 full bath
    Home size: 1,040 sq ft
    Lot size: 5,000 sqft
    Year built: 1954
  5. 5 beds, 3 full, 1 part baths
    Home size: 2,610 sq ft
    Lot size: 6,882 sqft
    Year built: 1986

See all San Mateo County Coastal Properties.
(all data current as of 8/1/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Big Screens and Big Comfort on tap this Sunday – at Home

Real Estate tradition says that the start of the  Spring Market, typically the most active time of the year for both buyers and sellers, begins after Super Bowl Sunday.  This year, that is this weekend.  I was thinking of writing a post on the super fun establishments we have in the area for a bit of imbibing along with the big-screen watching.  Then I saw this paragraph and changed my focus – to home – where I will be (unless I’m working).  Hubby is used to this.

“The Bar is Not the Place to Be on Super Bowl Sunday – Less than 1.5% of respondents to the Nielsen survey said they planned to watch the game at a bar or restaurant. Even in New Orleans, where the game is taking place, bars aren’t expecting large crowds. While bars often do big business during regular NFL games, the Super Bowl is a different type of event. “The Super Bowl is in some ways an American holiday,” Russo says. “It’s gathering the friends and family around the at-home experience and all the other components that tie into that.”

One of the most popular home features is the large kitchen-family room area or “open concept” living.  On days like Super Bowl Sunday, homeowners and their guests enjoy the feeling of inclusion, room to victory dance and shout, easy access to the refrigerator, all those things that are very COMFORTable.  Here are two great rooms:  1) Miramar/Half Moon Bay house; photo credit:  Barbara Masek Photography.  2) houzz.com image of a kitchen/family room layout.

 

Contemporary Kitchen design by Calgary Architect Dwayne Seal Custom Designs
FOR THE NON-FOOTBALL FANS WHO WANT TO BE SOMEWHERE ELSE…LIKE LOOKING FOR A NEW HOME…Here is what is currently on the market in the Half Moon Bay area.  Click the links at top or bottom as directed to see all the listings.

  1. 1 bed, 1 full, 1 part baths
    Home size: 450 sq ft
    Lot size: 5,314 sqft
    Year built: 1931
  2. 2 beds, 2 full baths
    Home size: 1,380 sq ft
    Lot size: 14,984 sqft
    Year built: 1911
  3. 4 beds, 2 full, 1 part baths
    Home size: 1,760 sq ft
    Lot size: 7,274 sqft
    Year built: 1971
  4. 3 beds, 1 full bath
    Home size: 1,040 sq ft
    Lot size: 5,000 sqft
    Year built: 1954
  5. 3 beds, 2 full, 1 part baths
    Home size: 1,380 sq ft
    Lot size: 1,001 sqft
    Year built: 1973

See all General Search.
(all data current as of 8/1/2015)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Quote source: http://business.time.com/2013/01/31/super-bowl-sunday-what-were-eating-where-were-watching-how-much-were-spending/#ixzz2Jb7qLBGp