Jim Arbeed’s Featured Hillsborough Listings...

HILLSBOROUGHHILLSBOROUGHYear-End Real Estate Review 2008

Specializingin FineHillsborough Properties

Jim Arbeed

Coldwell Banker Real Estate1427 Chapin AvenueBurlingame, CA 94010

Police Non-Emergency...................Fire Non-Emergency......................Mills-Peninsula Hospital.................Public Works...............................Building Permits, Inspectors, etc......Hillsborough Town Hall...................Department of Motor Vehicles..........Garbage Collection (Allied Waste).....Recycling (Allied Waste Services)......Pacifi c Gas & Electric....................AT&T Residential Service................Voter Information........................BART........................................Caltrain & Samtrans......................Library (Burlingame Branch)............Hillsborough Recreation Dept. .........

School Phone Numbers

Crocker Middle School................North Elementary School............South Elementary School............West Elementary School.............

375-7470558-7600696-5400375-7444375-7411375-7400800-777-1033592-2411637-1411800-743-5000800-310-2355312-5222510-464-6000800-660-4287558-7400342-5439

342-6331 347-4175344-0303344-9870

Important Hillsborough andLocal Services Phone Numbers

Jim Arbeed’s Featured Hillsborough Listings

Jim ArbeedInternational President’s Premier

Top 1% Internationally

650.558.4248www.JimArbeed.com

[email protected] Chapin Avenue ◆ Burlingame, CA 94010

An UnwaveringCommitment toExcellence in ServiceJim’s Recent Hillsborough Sales

$11,000,000 $4,000,000 $3,949,000 $3,250,000 $2,700,000

$2,515,000 $2,218,000 $1,795,000 $1,700,000 $1,580,000

#1 Coldwell Banker Agent for Hillsborough

5 Bedrooms, 5.5 BathsOffered at $4,800,0005 Bedrooms, 5.5 Baths5 Bedrooms, 6.5 Baths

Offered at $5,880,000

14,000+/- S.F. ◆ 2 AcresPrice Upon Request

4 Bedrooms, 4 BathsOffered at $2,199,000

6 Bedrooms, 4 BathsOffered at $3,700,000

NewListings

CurrentInventory

ClosedSales

AverageDOM

AverageSales Price

MedianSales Price

Total SalesVolume

2008 Q1 48 39 22 50 3,389,340 2,572,500 74,565,500

2008 Q2 63 41 33 41 3,206,878 2,850,000 105,827,000

2008 Q3 54 52 20 40 2,832,891 2,323,750 56,657,833

2008 Q4 46 40 18 35 2,450,556 2,112,500 44,110,025

HillsboroughHighlighted areas refl ect Jim Arbeed's Sales (Total of 12 transaction sides)

Hillsborough Year-End

Real EstateReview

2008____________

440 Hillsborough Heights441 Brewer Subdivision, Upland442 Hillsborough Park, Oakview Terrace, Hayne Manor, Crystal Springs Park443 Parrott Drive Area444 Tobin Clark Estate, Polo Terrace445 Lakeview446 Carolands, Remillard, Chateau Acres447 Hillsborough Knolls448 Homeplace449 Country Club Manor450 Skyfarm451 Hillsborough Hills, Woodgate Hills, Black Hawk Ranch452 Hillsborough Oaks, Fagan Estate, Forest Manor, Armsby Estate, Forest View453 Ryan Tract, Newhall Manor, Elmwood

Baywood Ave.Bridge RoadEl Cerrito Ave.

Averages:

$/Sq.Ft.$1,078$703$840

$874

List Price $4,950,000$4,599,000$1,499,000

$3,682,667

Glenbrook Road

Averages:

$/Sq.Ft.$691

$691

List Price$3,950,000

$3,950,000

Sale Price$4,700,000$4,325,000$1,570,000

$3,531,667

Longview CourtHayne RoadMarlboroughEl Cerrito Ave.Brandt RoadBlack Mountain Rd.

Averages:

$/Sq.Ft.$1,046$897$560$841$704$860

$818

List Price$4,529,000$2,395,000$2,950,000$2,395,000$1,995,000$1,600,000

$2,644,000

Sale Price$4,300,000$2,850,000$2,600,000$2,480,000$2,000,000$1,530,000

$2,626,667

Sale Price$3,900,000

$3,900,000 W. Santa Inez Ave.Roblar AvenueEl Portal AvenueRoblar AvenueRoehampton RoadW. Santa Inez Ave.Woodstock RoadW. Santa Inez Ave.

Averages:

$/Sq.Ft.$978$874$792$1,054$656$814$687$971

$853

List Price$8,995,000$3,999,000$3,875,000$3,850,000$2,795,000$2,799,000$2,595,000$2,298,000

$3,900,750

Sale Price$8,258,333$3,949,000$3,875,000$3,700,000$2,750,000$2,533,000$2,500,000$2,175,000

$3,717,542

DOM16835

111

105

DOM58

58

DOM3

1950103171

31

DOM15710221667495548

53

Area 440

Area 441

Area 442

Area 443

# Sales Avg. Price Median Price Avg. $/Sq. Ft.2007 5 $3,134,174 $3,350,870 $9472008 8 $3,717,542 $3,225,000 $853




Tournament DriveTobin Clark DriveSugar Hill DriveAnguido CourtClydesdale DriveSugar Hill Drive

Averages:

$/Sq.Ft.$717$549$801$605$896$522

$682

List Price$2,788,000$2,590,000$2,695,000$2,448,000$2,698,000$2,228,000

$2,574,500

Sale Price$2,575,000$2,570,000$2,562,500$2,418,000$2,400,000$2,020,000

$2,424,250

Ralston AvenueRobin DrivePullman RoadDarrell RoadCraig RoadPinehill RoadCraig RoadKingswood DriveDarrell RoadDarrell RoadBarbara WayLaurent RoadRalston AvenueRemillard DriveDenise DriveRobinwood LaneDarrell RoadMoseley Road

Averages:

$/Sq.Ft.$1,139$1,054$543$849$985$941$675$745$643$662$627$774$652$603$768$823$721$801

$778

List Price$10,900,000$10,990,000$6,800,000$2,595,000$2,550,000$2,499,000$2,399,000$2,399,000$2,495,000$2,395,000$2,350,000$2,150,000$2,199,000$2,350,000$1,998,000$1,895,000$1,850,000$1,799,000

$3,478,500

Sale Price$11,000,000$10,900,000$5,990,000$2,500,000$2,442,500$2,380,000$2,350,000$2,310,000$2,300,000$2,290,000$2,250,000$2,168,000$2,125,000$2,100,000$1,998,000$1,860,000$1,825,000$1,738,000

$3,362,583

DOM982071214811

45

DOM2

14208

701649102615

1342

17171

1257

155

35

Area 444

Area 446



Aster AvenueBrewer DriveBromfi eld RoadEucalyptus AvenueEucalyptus AvenueEucalyptus AvenueBarroilhet DriveEl Centro RoadHillsborough Blvd.Hillsborough Blvd.Bromfi eld Road

Averages:

$/Sq.Ft.$868$677$958$871$910$953$600$819$955$1,061$863

$867

List Price$6,995,000$4,990,000$3,395,000$3,990,000$3,475,000$3,495,000$3,295,000$2,995,000$3,195,000$2,525,000$1,895,000

$3,658,636

Sale Price$6,500,000$4,450,000$4,005,000$3,850,000$3,475,000$3,375,000$3,250,000$3,210,000$3,000,000$2,525,000$1,795,000

$3,585,000

Geri LaneGeri LaneOaks Drive

Averages:

$/Sq.Ft.$1,053$1,044$828

$975

List Price$4,295,000$4,495,000$2,399,900

$3,729,967

Sale Price$4,200,000$4,000,000$2,700,000

$3,633,333

DOM528490

1206

16123

766

34

DOM0

9912

37

Area 448

Area 449

Area 447

# Sales Avg. Price Median Price Avg. $/Sq. Ft.2007 3 $2,660,000 $2,750,000 $7592008 0 NA NA NA



Summit DriveWoddgate CourtOak Tree PlacePatton PlaceBella Vista DriveSummit Drive

Averages:

$/Sq.Ft.$655$641$854$680$775$920

$754

List Price$3,480,000$3,295,000$2,890,000$2,675,000$2,198,888$1,750,000

$2,714,815

Sale Price$3,250,000$2,995,000$2,810,000$2,250,000$2,100,000$1,665,000

$2,511,667

Irwin DriveForest View AvenueSharon AvenueKammerer Court

Averages:

$/Sq.Ft.$1,075$1,170$1,000$ 873

$1,029

List Price$4,995,000$4,800,000$2,545,000$1,850,000

$3,547,500

Sale Price$4,785,000$4,780,000$2,500,000$1,685,000

$3,437,500

DOM8854

123961113

64

DOM191

1937

19

Area 451

Area 453

Skyfarm DriveCinnamon CourtSkyfarm DriveSkyfarm DriveSkyfarm DriveSkyfarm Drive

Averages:

$/Sq.Ft.$821$501$698$808$630$664

$687

List Price$5,500,000$4,880,000$3,488,000$2,580,000$2,488,000$2,049,000

$3,497,500

Sale Price$5,500,000$3,790,000$3,275,000$2,400,000$2,400,000$1,925,000

$3,215,000

DOM3

17238782921

57

Area 450



# Sales Avg. Price Median Price Avg. $/Sq. Ft.2007 5 $3,587,000 $3,500,000 $ 8442008 4 $3,437,500 $3,640,000 $1,029

✛

*t✛

*

Forest View AvenueJackling DriveOakdale RoadJackling DriveJackling Drive

Averages:

$/Sq.Ft.$806$1,079$777$898$878

$887

List Price$3,250,000$2,695,000$2,398,000$2,335,000$1,675,000

$2,470,600

Sale Price$3,250,000$2,805,000$2,337,500$2,200,000$1,650,000

$2,448,500

DOM0

12171848

19

Area 452


2008QuarterlySales

*

Miranda CourtSearsville CourtLakeview DriveWedgewood DriveFalkirk LaneWedgewood DriveBrandt RoadTartan Trail RoadLakeview DriveRizal DriveLakeview DriveBraemar DriveWedgewood DriveOak Rim DriveKingswood DriveTartan Trail RoadSouthdown Road

Averages:

$/Sq.Ft.$601$536$630$752$728$672$718$653$528$776$671$683$704$646$814$630$664

$671

List Price$3,695,000$3,250,000$2,890,000$2,899,000$2,785,000$2,550,000$2,195,000$2,488,000$2,295,000$2,295,000$2,275,000$2,089,000$2,298,000$1,999,000$1,588,888$1,995,000$1,595,000

$2,422,464

Sale Price$3,393,000$2,950,000$2,780,000$2,720,000$2,700,000$2,515,000$2,450,000$2,400,000$2,295,000$2,218,000$2,100,000$2,050,000$2,027,025$1,937,500$1,790,000$1,700,000$1,580,000

$2,329,737

DOM21268438642812194

401

1844028154412

39

Area 445 # Sales Avg. Price Median Price Avg. $/Sq. Ft.2007 19 $2,527,762 $2,100,000 $6812008 17 $2,329,737 $2,295,000 $671

t

**

**

✛

Closed Hillsborough Sales by Area (COE: 1/01/08-12/31/08)Data Sources: MLS Listings

All information deemed reliable but not guaranteed.If your property is currently listed for sale, this is not a solicitation.

Jim Represented Buyer Jim Represented Seller Jim Represented Buyer and Seller

February 2009

Dear Neighbor,

As a Hillsborough market specialist, long time resident, and the #1 Coldwell Banker agent for Hillsborough, I am happy to share this comprehensive year-end review with you. While the current economic and real estate market conditions are challenging to say the least, Hillsborough has performed relatively well compared with other parts of the Bay Area. The following information provides the year 2008 total closed sales data for the 14 areas comprising Hillsborough. It is worth noting that current available inventory, while up from the same period last year, is still relatively low and refl ects approximately 1.2% of the nearly 3,900 homes in town. As this review goes to print, there are 47 active listings on the market, with 22 of those below the $3 million price range, and 20 above $4 million. Consequently, there is a defi nite shortage of inventory in the $3 million to $4 million range. While it is a fact that the number of sales is down roughly 26% from 2007, the median price is off by only 3.5%, and the average price is actually slightly higher. This clearly shows that even in diffi cult economic times, there is still typically a fl ight to safety and quality. People seek less volatile markets, and there are few locations that are as stable as Hillsborough is and has been over the years.

In terms of demand, there is still good turnout at open houses, and listings are generally experiencing good showing activity. Yes, more buyers may be on the sidelines due to tight fi nancing, lack of job security, and a sense that the market may soften further. Then there are always those who want to wait and catch the bottom. The problem with that mindset is that when a “bottom” is identifi ed, it is usually too late. Subsequently, the ones who are buying are very cautious and more particular than in past years. However, it is important to note that real estate is not driven strictly by the economy. People choose to buy and sell for a variety of reasons, many of which are not necessarily tied to current economic conditions. Some of these reasons include job relocation, schools, trust or probate sales, the desire to upsize or downsize, and a host of personal factors.

While it is true that the healthy gain in median price that we experienced in the fi rst half of the year (up 8.2% from 2007) was erased by the ensuing crisis in the fi nancial and equity markets during the 4th quarter, we should still put things in perspective. We have experienced nearly a decade of robust growth in the real estate market; and, as with any market, this kind of growth is simply not sustainable year after year. Some might say that the trend is defi nitely down and that things will get worse before they get better. Whether this is true, no one knows for sure. However, what I do know for sure is that this market will recover, and when it does, there is no community better poised to do so than the town of Hillsborough. With its temperate climate, natural beauty, privacy, outstanding schools; and proximity to San Francisco, Silicon Valley and major airports, Hillsborough will continue to always be in demand. In the meantime, it is imperative for anyone thinking about selling to price their properties appropriately, prepare them so that they show well, and work with a full-time, local realtor to represent them. Proper marketing is now more important than ever, as buyers need to perceive a true sense of value before they will act.

Should you have any questions about the information contained in this report, or if I can be of any assistance regarding your real estate needs, please don’t hesitate to contact me. I look forward to speaking with you soon. Sincerely,

Year # of Sales Avgerage Price Median Price Price Recv’d Avg. DOM2003 141 $2,178,479 $1,860,000 95% 532004 169 $2,460,387 $2,250,000 97% 432005 152 $2,769,140 $2,500,000 98% 492006 123 $2,963,690 $2,500,000 97% 502007 127 $2,959,767 $2,600,000 96% 512008 94 $3,035,748 $2,507,500 96% 42

% List

2008 Price Breakdown:# of homes sold +$10MM = 2 (2%)# of homes sold +$5MM-$10MM = 4 (4%)# of homes sold +$4MM-$5MM = 9 (10%)# of homes sold +$3MM-$4MM = 15 (16%)# of homes sold +$2.0MM-$3.0MM = 49 (52%)# of homes sold under $2MM = 15 (16%)

Highest Sale Price = $11,000,000Lowest Sale Price = $1,530,000

2007 Price Breakdown:# of homes sold +$10MM = 0# of homes sold +$5MM-$10MM = 7 (5%)# of homes sold +$4MM-$5MM = 14 (11%)# of homes sold +$3MM-$4MM = 25 (20%)# of homes sold +$2.0MM-$3.0MM = 67 (53%)# of homes sold under $2MM = 14 (11%)

Highest Sale Price = $8,700,000Lowest Sale Price = $1,600,000

Totals: 2007=127 ◆ 2008=94(decrease of 26% vs. 2007)Note: In 2008, 10 homes(approx. 10% of total sales)sold under $1.8MM, whereasin 2007 only 2 sold for under $1.8MM

__________________________ _________________________

Hillsborough Closed Sales2008 vs. 2007 Comparison

Hill20082008QuarterlyQuarterlySalesSales

t

Jim Arbeed’s Featured Hillsborough Listings...

Documents

Transcript of Jim Arbeed’s Featured Hillsborough Listings...