Emerald Hills: Zero to Sixty
A total of 32 homes are for sale in Emerald Hills right now, which I would consider a glut. In fact, this summer marked the highest number of homes available in EH in the last two years. That’s a lot of high-end real estate waiting to get purchased. Nineteen of these listings are in the more reasonable zero to sixty days on market, while 13 are getting a bit stale (see my post on Thursday for these). Prices on the 19 range from $799,000 to $2,750,000. Four are in their first week on the market, a total of 12 are under 30 days on market. There is a lot to choose from, with some sellers slashing prices quickly, and others holding out.
1033 Wilmington, 4/3, 2949 sf, .25 acres, $1,395,111 DOM: 3
One of 3 homes on this street to go on the market. Overlooks the creek. Open Sunday 1:30-4:30.
3288 Oak Knoll, 4/4, 3100 sf, .3 acres, $1,599,000 DOM: 3
One of 3 homes on this street currently listed. This is a three-year-old two-story home that is light and airy and walking distance to the shopping center. Last sold in 2006 for $1,390,000. Open Sat/Sun 1-4. (photo right)
626 Lombardy, 5/4, 3964 sf, .28 acres, $2,775,000 DOM: 5
Nine-year-old villa high in the hills with views. High-end amenities like Travertine floors, wine cellar, media room. Also has a pool and spa.
3977 Jefferson, 4/2.5 3050 sf, .25 acres, $1,638,000 DOM: 6
Very nice, formal style Tudor-like home with pool.
2450 Park Road, 4/3.5, 2650 sf, 5000 sf lot, $1,039,000 DOM: 10
Thirteen-year-old three-story contemporary home off Lake Blvd.
180 Lakeview Way, 3/2.5, 1846 sf, .5 acre, $1,379,000 DOM: 11
Property is accessible from Edgewood Road.
3353 Oak Knoll, 4/3.5, 2900 sf, .29 acres, $1,468,000 DOM: 14
Separate in-law apartment. Home has canyon views and is located 7 houses from lower lake. Last sold in 2001 for $782,000. (photo right)
45 Palomar Oaks, 5/4, 4565 sf, .52 acres, $2,468,888 DOM: 17
Home to begin construction in Spring 09. This is part of the new executive gated community off Edgewood Road. 30 Palomar Oaks Lane, a 5/4+ of 4144 sf, sat on the market for 106 days. List price was $2,195,000 and it sold for $1,800,000 (-18%).
1750 Cordilleras, 3/2.5, 2120 sf, .51 acres, $1,389,000 DOM: 25
1950s-era home “located in new three lot subdivision with plans to develop two other executive style homes on new court.” This means new construction in the near future. Reduced from $1,449,000.
519 Edgecliff Way, 2/1, 1020 sf, .42 acres, $1,399,000 DOM: 26
Existing home is livable, but being sold as usable lot to build on.
645 Handley Trail, 4/3.5, 3010 sf, .52 acres, $1,595,000 DOM: 26
One of two homes on the market on Handley Trail. Wonderful 1920s charm with beautiful wood doors and windows.
816 Lakeview Way, 4/4, 4490 sf, .28 acres, $1,630,000 DOM: 28
Large rooms, wood and beam ceilings, pool and poolhouse mark this two-level Mediterranean style home.
3804 Jefferson, 3/2.5, 2180 sf, 7420 sf lot, $1,150,000 DOM: 35
Situated on a corner lot directly across from Roy Cloud School. Last sold in 1999 for $500,000.
1026 Wilmington Way, 3/2, 1915 sf, 8064 sf lot, $1,150,000 DOM 38
Last sold in 2001 for $867,500.
EDITORS FAVORITE: 850 California Way, 4/3, 3650 sf, .3 acres, $2,495,000 DOM: 42
Recently completed, this is a “Green” home of modern style. Open, loft-like floorplan with wood beams, large gourmet kitchen. (photo right)
439 Lakeview Way, 5/4, 4810 sf, 1 acre, $2,750,000 DOM: 42
Three-year old home on a full acre with wood shingle siding, and great peninsula/bay views.
103 Lakeview Way, 2/2, 1390 sf, 10,600 sf lot, $799,000 DOM: 43
This is located on the corner of Lakeview and Cordilleras, across from the Edgewood Road stoplight. House is set back but road noise could be an issue. One of the original cabins (1923) in the area, it has been extensively remodeled and added on to over the years.
1711 Edgewood Road, 4/4, 2480 sf, 10,700 sf lot, $1,888,000 DOM: 52
Purchased in 2007 for $1,115,000, t his home has been remodeled throughout. On one side is the Hetch Hetchy reserve. Home behind it on Cordilleras is also for sale and there are two possible building lots coming available, meaning construction nearby at some future point. Open Sunday 1:30-4:30.
1757 Edgewood Road, 4/2.5, 2350 sf, .27 acres, $1,295,000 DOM: 58
Well-landscaped tri-level home on private drive off Edgewood Road. Reduced 4 times, for a total of 14%.
RWC said:
Susan,
If my memory serves me correctly, aren’t the first four homes that you state are “less than a week” on the market actually re-listings? I distinctly remember seeing all four of them at open houses in the past month or so.
September 9, 2008 6:46 PM
susan.brady said:
I was thinking that some looked strangely familiar. Unfortunately, if you look at the current listing information, you can see that nowhere do they put that they are a re-list. Because I have no direct access to the MLS, I am dependent only my brain to remember each property, and covering more than one city, my brain isn’t always able to keep up. Love to hear your thoughts on those four – since you’ve seen them already. Good homes? What about the current prices?
September 10, 2008 8:21 AM
Adam Schwartz said:
I watch the listings in San Carlos and Redwood City and am amazed who frequently houses are re-listed rather than showing a price reduction. It’s very unethical in my opinion.
September 10, 2008 10:53 AM
Drew said:
Adam, long before the advent of the Internet, agents were re-listing properties to attract colleagues who missed the listing when they were initially input. All re-listing a home served to do was get the listing back in front of the eyes of agents. This practice was never meant to deceive buyers, though today with public access to listings on-line it has this unwanted effect. The local MLS could add the DOM (days on market) and CDOM (continuous Days on Market) stat to the on-line listings and avoid the appearance of what you refer to as unethical behavior. Interesting to note that if I as an agent email you a “client” copy of the listing, it contains this information. However, the “client” copy of the listing I send does not allow me to include the virtual tour links you can get on-line. These are examples of outdated protectionist policies that do the consumer and the agents no good; but the re-listing of homes is simply a hang-over from the “old” days, prior to the internet (which is only about 5000 days old).
Best regards,
Drew Morgan, Agent in Belmont ,CA
September 11, 2008 11:02 AM
Susan Brady said:
thank you so much, Drew, for the explanation. I had it on my TO DO list to contact agents about their take on this issue. You’ve done a good job explaining it.
September 11, 2008 3:51 PM