Ben,

In Hillsborough, CA, real estate is not sold by $/acre because there are so many factors that enter into the pricing of each unique location. The area is fully developed and the value is in location as well as both the sites/improvements in the surrounding neighborhood. Hillsborough has been developed for over 60 years, so some properties are outdated and offer great site opportunities because generally the earliest developed areas are flat and closer in to Burlingame with its restaurants and everyday amenities.

The Town of Hillsborough has a lot of different terrain from flat open sites to steep hillside and creekside sites. For example, you may have a lot over 1 acre of land but only .3 acres are buildable while another site may have much more buildable space.

As you can see from other responses, few vacant lots opportunities arise each year. Some of the vacant lots come with approved plans to shorten the time to have the home built. These lots, needless to say, are more valuable because someone spent the time and money to provide a ready-to-build opportunity. In order to provide more selection in terms of location, many buy an outdated home just for the site.

Two separate strategies might work for either a homebuyer or a developer:
1. Buy an outdated home and improve it by updating, remodeling, or adding to it. This has 2 advantages. It is faster to get permits and the tax basis is not so radically affected.
2. Tear the existing dwelling down and build a new home from the foundation up.

Now is a great time to be a Hillsborough buyer because there are many opportunities. If you would like more information about the characteristics of this wonderfully unique community, please feel free to follow up with me further.

Regards,
Linda Scheifler Marks
Alain Pinel Realtors - Burlingame
650.931.2948
e-mail: click on my name link next to the photo above and then select "contact me"

There's 5 lots on the MLS currently and the asking range is from $1.45 million (.67 acre) to almost $4 million (3.2 acre)

Hello Ben most people would prefer to own in lower Hillsborough because they are closer to downtown Burlingame. This is going to be difficult because lower Hillsborough is more expensive. You need to be patient and wait for the right opportunity.

As for the cost, that's a hard question to answer because it depends on what area of Hillsborough. A half acre in lower Hillsborough can be worth more than a acre at the Top near 280. The cheapest area would be in the Tobin Clark Estate area.

If you are not working with an agent, give me a call or shoot me an email. I work the area and network well and have access to many homes prior to them coming on the market.


NOTE: Hillsborough doesn't have their own downtown, nor do they have multi residential properties or condos. Only single family homes.

I agree with Cheryl, you might want to consider looking at tear downs as well as lots for sale. What is your price range and how big a home do you want to build. You also need to know the set backs of the lots.

I would strongly urge you to use a local builder or at the very least team up with someone who is familiar with working with the planning dept in Hillsborough.


Regards,

Dave "Tap" Tapper
Realtor
Cashin Company http://www.DavidTapper.com
Redt4u@aol.com
650-403-6252

Hi Ben,

You might want to consider buying a tear down or an outdated rancher. It’s not uncommon for individuals to spend $3+M for a Hillsborough property to then tear down & rebuild their dream home.

Are your long term plans to build and live at the property or is your plan to build & then sell? This will also determine where you’d want to buy in Hillsborough.

Either way, you will want to work with a developer who works in the town & is familiar with the building department requirements.

I’m happy to share off line the nuances of the town.

Best wishes,


Cheryl Bower, Realtor , GRI, ABR
Cell 415.999.3450
Zephyr Real Estate
Cheryl@cbower.com http://www.cbower.com
DRE #01505551

There are currently 5 active listings on the mls starting at $1,450,000 for .67 acres up to $3,990,000 for a 3.2 acre lot. Let me know if I can send you more info on any of them.

Glen
Broker