There were lots of good new listings in west Menlo Park today on tour.

Prices ranged from $959,000 to $2,995,000.

We're sorry, but we couldn't find MLS # 81017341 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017571 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017588 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017620 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017575 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017594 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017567 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017439 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

Rumor has it that 228 San Mateo Drive already has an offer.

The two houses on Cambridge are new and are front and rear on a deep lot as is often found in Allied Arts.

1825 Oakdell is the prototypical original west Menlo ranch house.

To search for all west Menlo Park homes, click here.

Today was a good day for new listings in White Oaks.

Six new listings came on the market priced between $999,950 and $1,850,000.

If you would like additional information on any of these listings, please let me know.

We're sorry, but we couldn't find MLS # 81016622 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81016894 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

2033 White Oak Way went pending on tour day – didn’t take long! Great house!

We're sorry, but we couldn't find MLS # 81017126 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017535 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

We're sorry, but we couldn't find MLS # 81017599 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

140 Park and 2033 White Oaks are wonderful large total remodel homes.

1526 Chestnut is an excellent value.

To search for all White Oaks listings, click here.

There are two ways to buy foreclosures:
1. Go to trustee foreclosure sale on the “courthouse steps”  with cash for any offer you may make.
2. Wait until bank forecloses takes title, and lists property for sale on mls (REO).

#1 is are not for inexperienced investors (not saying you are )
#2 is a good way to go – depending on area, there may be a good stream of new REO properties coming on market.  you will work with a real estate agent to prepare offer just like you would on other non-REO houses on the market. competitive bidding on these. must be solid solid on financing or pay cash.

Please let me know if you have questions or would like more information on the above.

Here’s how the foreclosure process works in California and it will help you understand the dollar amounts quoted.

To start the foreclosure process, lender must file notice of default (NOD).

At the present time, I would say many lenders wait until 6 to 12 months of missing loan payments before filing NOD. By law, they can file after one missed payment, typically.

From that point, owner has 3 months to bring missing payments current.

During this period, the lender if they publish any amount, it will be just the amount of the missed payments.
So if you see amounts like $11K and $30K, they are probably the total amount due on missing monthly payments.

After the 3 month period, owner has to pay off loan IN FULL including principal.

During this period, the numbers “published” will look like $254K or $586K – principal amount of loan plus all missed payments.

If owner does not pay in full 21 days after the end of the three month period, lender will set for sale at foreclosure auction.

Typically opening bid will be the total amount due. Buyers will need to pay cash on the spot. Recently, I hear reports of some sales going off below the total amount due. Often trustee sales are cancelled or postponed.

Hope that helps explains the process. I am happy to answer any questions you may have about the process.

Of course, any home owner who is faced with foreclosure should IMHO, contact an attorney to obtain legal counsel on the process and one’s specific situation. 

Arn

I have written several times about the real estate potential available in east Menlo Park and East Palo Alto.

Property values in these areas have dropped about 50% from their peak.

First time buyers can now buy a single family home on the Peninsula at an affordable price.

Investors can buy fix and flip or buy fix and rent for longer term investment.

1107 Sevier is a 3 bedroom 1 bath home listed at $249,900.

Below you will find a few “amateur” videos of the property. Contact me if you would like to see.

Jay Thompson the Phoenix Real Estate Guy took a look at how many listings Trulia, Zillow and Realtor.com are posted on their sites compared to the IDX mls search his blog site provides. It turns out that at least in the Phoenix area Trulia has 64% and Zillow 87% and Realtor.com 94% of the listings that appear on Jay’s IDX mls search site.

This week I will run the numbers for some cities in the San Francisco Peninsula and see what they show.

My site provides my clients and readers access to the Diverse Solutions IDX Search - check it out. Diverse has many cool features including Google Street views and the ability to search by WalkScore.

Trulia and Zillow both provide lots of good useful information to home buyers and sellers.

That being said, it is important for a prospective home buyer to know that Trulia and Zillow do not provide information on ALL available listings.

Here are the real estate tour properties for San Carlos, CA on Tuesday February 17, 2009

Condo/Townhouses

3330 Brittan Ave #1                     3/2                     1239sf                      $538,000

19 Buttercup Lane                        3/2.5                  1793sf                      $799,000

15 Violet Lane                                3/2.5                 2330sf                      $875,000

Single Family Homes

1160 Walnut St                            2/1                      1060sf                      $839,000

90 Cedar St.                                 3/2                      1490sf                      $839,000

1521 Cedar St.                             5/3.5                   2528sf                      $1,599,000

6 Madrona St.                              4/2.5                   2940sf                      $1,299,000

Here are some Menlo Park CA homes on tour for the first time Tuesday February 17, 2009.

1074 Del Norte Ave       3/2       1600sf         $965,000

2055 Gordon Ave          3/2        1900sf         $1,456,000

844 15th Ave                  3/2        1520sf          $869,000

450 Blake St                    3/2        1460sf          $1,195,000

146 Sand Hill Cir             3/2        1600sf          $1,045,000               townhouse

1030 Siskiyou Dr            4/3         2770sf          $2,188,000

12 Zachary Ct                  4/3         3150sf          $2,349,000

West Menlo Park is a very desirable neighborhood close to downtown Menlo Park and Stanford University. The area within the City limits is considered “prime west menlo”.  Most homes are older ranch style home on 1/4 acre parcels. Many of these older homes are now being replaced by very large 3500sf-4000sf homes. There is also an area in west Menlo Park along the Alameda which is actually county area – near the Dutch Goose and in the outstanding Las Lomitas School District. The Menlo Park City school district is also highly ranked.

Today I will to highlight some new listings priced slightly above $2,000,000.

The first 1300 Hobart is within the City of Menlo Park boundaries and is considered prime west Menlo. This gracious ranch style home sits on a well-landscaped 1/4 acre lot and contains 3 bedrooms 2.5 baths and 2240sf in total. This home has been recently updated and shows very well. Property is listed by Margot Lockwood Coldwell Banker at $2,195,000.

The next two properties in the same price range are in the Couny area off the Alameda.

 2190 Sterling is a 3 year old house of 2,685 sf containing 5 bedrooms and 4.5 baths on a 6000sf lot. This two story home has a gourmet kitchen with center island and cathedral ceilings in many rooms. This property is listed by Kristin Cashin of Cashin Properties at $2,195,000.

The final property is located at 1316 Orange Ave., Menlo Park. This 1 year old home contains 2700sf and 5 bedrooms and 4.5 baths on a 6300sf lot. The elegant chef’s kitchen has 2 ovens and under counter Vinotemp wine storage. Property is listed at $2,199,000 by Carol Bartlett of Cashin Properties. Carol used to work for my father years ago at Cenedella and Co.

 So which do you prefer? All three houses are priced in a similar range.

Hobart has the classic west Menlo location and 1/4 acre but the other homes are larger and newer.

Just a matter of taste – please let me know what your preference is – I will keep track!

New Palo Alto listings within last 10 days

New Menlo Park listings within past 10 days

New San Carlos listings within past 10 days

Just let me know if you need further information on any of these properties or wish to personally view the homes.

The project at 1001 Laurel San Carlos is nearing completion.

90 residential units plus retail space plus fitness center and interior courtyard.

Underground parking.

Units will range from 1 bedroom 1 bath to 3 bedroom 3 bath.

4 story building.

The burning question I have is what will the pricing be?

Only time will tell. Stay tuned and I will keep you posted.

As a 22 year resident of San Carlos, it is a great town and I believe 1001 Laurel will be a nice addition to our ever-more bustling downtown.

Plus it is right down the street from my favorite place to get a margarita – The Catina – try the pomegranite (sp?) margaritas!