850 Woodside Way, San Mateo, CA 94401 | www.samcar.org | (650) 696-8200 | fax. (650) 342-7509
Resource Monthly Calendar • Message from SAMCAR • Market Update
February 2011
Message from SAMCAR
W
elcome to the new Resource, your monthly publication for a quick and easy glance at SAMCAR activities, classes and events for the month ahead and a real estate market report with current trends. The condensed Resource is one of many improvements we have made to the SAMCAR publications strategy. We want to ensure we are consistently meeting the needs of our members with creative, valuable, engaging and easy-to-read or -skim content. SAMCAR will roll out four different publications for 2011. We focused on the following key elements in designing these publications: 1. Information that helps members in their business. 2. Information that speaks to the value of your membership 3. News and photos about what members “like” to see and what SAMCAR is doing in the community.
register for most classes and events by calling samcar at
unless otherwise noted location is samcar
(650) 696-8200
850 woodside way, san mateo
Monday
Tuesday
31
7
1
6 p.m. Energy Efficiency Opportunities for Realtors and Mortgage Professionals (Skyline College)
8
6 p.m. Energy Efficiency Opportunities for Realtors and Mortgage Professionals (Skyline College)
15
SAMCAR Closed for President’s Day
22
8:30 a.m. Combined Meeting (229 w. 20th ave., san mateo)
more HERO@smchsa.org
As we launch all the publications, we hope you like what you see and will give us your constructive feedback. And for you skimmers out there, here is the TOP 10 List!
14
Top 10 Reasons For Changing and Improving Your Publications
1
To make our communication with you fast and effective.
2
To deliver information that helps you and your business in an eye-catching format.
3
Because we know REALTORS® are bombarded with other things to read.
4
Not everyone wants to read information online. So, we are mailing a tri-annual publication, the Focus, to our members.
5
Not everyone likes to read a printed publication. So, we are developing a blog, Exchange, to deliver timely information that you can share easily.
6
Not everyone likes change. So, we are keeping the format of the weekly e-mail the same, but changing the name to Relay.
7
It really is all about YOU, our members, and giving you what you want in a manner you want to get it. Get it?
8
It’s 2011, and it’s time to dip our toes in the digital media pool.
9
If you’re not trying to improve, change and grow, you stagnate.
10
“Grab, scan and go”, “Read and pass on” and “Find more information on our web site” are concepts we want to encourage.
more HERO@smchsa.org
21
all day
1
28
march 8:30 a.m. Combined Meeting (229 w. 20th ave., san mateo)
find the full class schedule online at
www.samcar.org/Education
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For just $25 per guest join us for this unique conference featuring
If you’re looking for someone who knows mortgages, here’s someone to know.
keynote address
Leslie Appleton-Young (C.A.R. Chief Economist) real-time housing trend
Jean Lu
Mike Simonsen,
Mortgage Loan Officer 650.346.7720
(CEO, Altos Research) re /tech trends + tools
Nicole Nicolay
jean.lu@bankofamerica.com http://mortgage.bankofamerica.com/jeanlu
(Agent Evolution and “My Tech Opinion”)
+ exhibitor demos and much more! February 17 / 9:30 a.m. to 4:30 p.m. elks lodge, 229 w 20th ave., san mateo
more information at
www.samcar.org/Future
Bank of America, N.A., Member FDIC Equal Housing Lender © 2009 Bank of America Corporation. Credit and collateral are subject to approval. Terms and conditions apply. This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. 00-62-0290D 04-2009 AR72866
February 2011
view the full calendar online at
www.samcar.org/Calendar Wednesday
Thursday
3
2
9
9 a.m. Coastside Legislative Committee Meeting (235 Main Street, Half Moon Bay)
Friday
9:30 a.m. Pacifica Legislative Committee Meeting (450 dondee way, suite 7, pacifica)
4
10
8 a.m. GRI110: Marketing, Financing and Managing Commercial Properties $149 | (888) 785-4800
11
17
8:30 a.m. Seniors Real Estate Specialist (SRES) | $250
18
10 a.m. New PRDSForms.com
Saturday
Sunday
5
6
11 a.m. Lunch & Learn: PowerPoint next steps
12
13
8:30 a.m. Seniors Real Estate Specialist (SRES) | $250
19
20
26
27
5
6
10 a.m. MLSListings, Inc. Realist Training 1 p.m. Maximize your Search & Listing Management
6 p.m. Energy Efficiency Opportunities for Realtors and Mortgage Professionals (Skyline College) more HERO@smchsa.org
16
9:30 a.m. Peninsula Legislative Committee Meeting
9:30 a.m. Future of the Housing Market + Real Estate Tech. $25 per guest | (650) 696-8220 www.samcar.org/Future (229 w. 20th ave., san mateo)
6 p.m. Energy Efficiency Opportunities for Realtors and Mortgage Professionals (Skyline College) more HERO@smchsa.org
23
10 a.m. New PRDSForms.com
11 a.m. Tour Deadline for January 21 Tour Sheet due to Monday holiday.
24
10:30 a.m. Short Sale Sizzle
25
3
9:30 a.m. Pacifica Legislative Committee Meeting (450 dondee way, suite 7, pacifica)
4
11:30 a.m. Special Events Committee Meeting
2
learn more about upcoming events at
www.samcar.org/Events
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9 a.m. Duane Gomer’s 45 Hours Continuing Education) $89 members ($99 non-members)
for advertising reservation and pricing information, please contact dalen gilbrech
dalen@samcar.org or (650) 696-8206
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Monthly Calendar | february 2011
Market Update
Find monthly sales statistic reports online at www.samcar.org/stats
SAMCAR Resource | Market Update | february 2011
Median Price for San Mateo
february 2010 | Market DatA
7-day Median Price
It’s still firmly a buyer’s market In December 2010, the median price for a single-family home in San Mateo County was $719, 500. The median price was $723,000 in November, a half percent drop. Year over year data shows that the median price was $750,000 in December 2009 a 4% drop. For comparison the price in December 2007 was $897,500, a 20% drop from 2007 to 2010. For Common Interest Developments, the median price countywide in December was $377,500 with 87 days on the market in comparison to last December at $456,500 and 77 days on the market, a 17.5% drop within one year. The time homes have been sitting on the market has increased from 63 days on the market in December 2009 to 75 in December 2010. In December 2007, the DOM was 57 days. As a seasonal slow down would suggest, inventory fell from 1676 in November 2010 to 1284 in December. There were 395 new listings in November compared to 275 new listings in December, a 30.5% decrease. The amount of closed sales increased in December with 372 closed sales for the month versus 328 closed sales in November. Year over year, there were 358 closed sales in December 2009.
Data provided by Altos Research LLC
49 days on the market (compared to 60 last year) and a median price of $1,081,499. Current Market Data As of January 12, according to statistics from Altos Research, which tracks real time market data, inventory is dropping steeply across most of the markets in San Mateo County, including San Mateo, San Carlos, Redwood City, Burlingame, South San Francisco, Pacifica and Daly City. Prices are dropping, as well. In most of the markets across the County, it is still a firm buyers market, with signs of hope if inventory continues to drop and prices stabilize. We don’t have a crystal ball on how this decrease in inventory will ultimately affect the market, however, we invite you to attend our “Future of the Housing Market” event and listen to Leslie Appleton-Young provide her forecast and Mike Simonsen, Altos Research, tell the story behind the numbers on February 17.
The average percent of list price received was 95.75% in the County. Locally, Belmont led the way at 98.18% vs Woodside getting 81.21% of asking price. In terms of a hotter market, look to East Palo Alto that received 100.22% of list price as people purchased homes for a median price of $278,500.
learn more online at
www.samcar.org or call us at (650) 696-8200 Distribution SAMCAR Resource is published monthly by the San Mateo County Association of REALTORS®, 850 Woodside Way, San Mateo, CA 94401 and distributed to more than 4,000 recipients. E-mail your questions or comments to samcar@samcar.org
December 2010
December 2009
Median price
$719,500
$750,000
DOM (days on market)
75
63
Closed Sales
372
358
Data provided by SAMCAR, based on statistics compiled by MLS Listings, Inc.
Editorial Contributions
Steve Blanton, SAMCAR Executive Officer Michon Coleman, Director of Government Affairs Julie Ziemelis, Director of Public Affairs Alex Khalfin, Government Affairs Coordinator
thank you to our
2011 Annual Sponsors
Dalen Gilbrech, Publications Designer
Become an annual sponsor of SAMCAR and see your company name here every month in addition to a host of sponsorship benefits from Association dues to exclusive promotional opportunities.
Board of Directors
find more information online at
Art Direction / Editorial Design
Sue Vaterlaus, 2011 President Anne Oliva, President-Elect Jennifer Tasto, Region 25 Chair Robert Brisbane, Director Bobbi Decker, Director Suzan Getchell-Wallace, Director Phillip Houston, Treasurer Karon Knox, Director Dennis Pantano, Director John Prouty, Director Corrin Trowbridge, Director Michael Verdone, Director Frank Vento, Director Diane Wilson, Director David Zigal, Director
www.samcar.org/Sponsorship Questions about Sponsorship?
Please contact Nasreen Wills, Meeting and Event Planner at (650) 696-8220 or nasreen@ samcar.org
the san mateo county association of realtors®
Our mission SAMCAR is a trade association organized to ensure professionalism, protect property rights, promote the ownership of real property, and help members achieve success.
Single Family Residences
Copyright © 2011 |
MASTHEAD
Also interesting to note, Foster City listings did not sit very long, as homes sold on average within 29 days of listing. The city only had 21 homes on the market and had 10 closed sales. Burlingame experienced some warming trends with
monthly association and market update of the san mateo county association of realtors®
90-day Median price