wadsman1, Both Buyer and Seller in Belvedere Tiburon, CA

I've seen the value of a house in Belvedere, CA 94920 go from the mid 900,000's to 1.35 million in one year. Is this an inflated market?

Asked by wadsman1, Belvedere Tiburon, CA Tue Apr 23, 2013

Help the community by answering this question:


as liz said...tiburon/belvedere is a unique community desired by many young families not only for its natural beauty and proximity to SF but more importantly because of our remarkable school system.
the $900,000-1.350,00 tiburon/belvedere home, would be considered a starter home...hence, the velocity of activity around such moderately priced homes is significant...not inflated...a simple text book case of supply and demand.
1 vote Thank Flag Link Thu Oct 3, 2013
As long as we continue to have a lack of inventory, record number of buyers and low interest rates, I believe that prices will continue to increase. It will be interesting to watch the global economy as it relates to the SF Bay area economy, which is doing quite well in comparison.

We are recently calling the market more of a market of "competition" versus "comps" Meaning buyers are bidding against their competitive buyers who really want a home, versus what homes recently sold for.

I hope that helps!

Liz McCarthy
Top Producer and Partner, McGuire Real Estate
Marin County.
1 vote Thank Flag Link Tue Apr 23, 2013
$900,000 is a low price for a good Belvedere property. It is easy to believe that that an owner or a buyer could do moderate improvements and re-sell a year later for $1,350,000. If you have an interest in specific Belvedere properties, please let me know. I am happy to help.
1 vote Thank Flag Link Tue Apr 23, 2013
Hi Wadsman,

Here in Tiburon we have a low inventory of homes and we have an increase demand. Our interest rates are at a 70 year low and the home affordablity hasn't been this high since 1971.
Last year we had the most sales in 5 years and our market is definately moving swiftly.
I would love to talk to you personly and sshare my experince. Call me today I will help you take advantage of this market and get you the most money for your home.

Warm regards,

Miguel A Paredes III
DIRECT 415-233-3235
EMAIL. mparedes@fhallen.com
0 votes Thank Flag Link Tue Apr 23, 2013
We are currently suffering from extremely low inventory, which has been a market condition for the past few months. We are experiencing multiple offers at almost every price level. In addition to that, Belvedere's median and average price statistics are often not as accurate due to the limited number of sales in the area. If you would like us to complete a market analysis on a particular property for you, let us know.
0 votes Thank Flag Link Tue Apr 23, 2013
I will start by saying that I am not totally familiar with the Belvedere area but I will give you a little insight as to what seems to be the trend in the market across the board.

As you may have noticed, the amount of homes for sale has actually diminished. In some neighborhoods its interesting that there is a lot of vacant homes but there is still a lack of inventory in those very same neighborhoods. What has happened is that it seems that Banks are holding on to inventory, manipulating inventory to increase demand. (The basic economics law of supply and demand). I do believe that the intention is to not totally depress any given neighborhood by just flooding the market with all available inventory.

You see, there were a lot of smoke and mirrors last year. Bank of America being the largest servicer in the U.S. but over 200,000 properties on hold from foreclosure with the pretense of going back and modifiying these mortgages or persuading homeowner's to short sale their property (sell it for less than its worth). http://www.cnbc.com/id/48243400 That's just B of A, who knows how many more properties are on hold from all the other Mortgage Servicers in the United States. To add insult to injury, a bunch of properties were also placed on hold from the whole "Robo-signing" scandal. http://www.dailyfinance.com/2011/03/04/hsbc-foreclosure-mora… . On top of that, Banks are punishing folks that are trying to modify in a way to get back at consumers for the scandal the banks caused. http://www.tampabay.com/news/business/realestate/banks-find-…

Only time will tell if this growth in appreciation will be sustainable as Banks commence to foreclose on all these properties. I would think that these Banks can only hold on to these assets (actually liabilities) for a limited amount of time, but the truth of the matter is that there are many empty homes that have been empty for years. I do hope that this growth will be sustained. Just keep your eyes open as to what is going on in your particular neighborhood.

Eddie W. de Leon
Senior Loan Officer
NMLS #238369

Dial **4Eddie from any Cell phone in order to be connected directly to me.
0 votes Thank Flag Link Tue Apr 23, 2013

If it is any indication, the median price paid for a home in the Bay Area last month was up 21.8 percent from March last year....
0 votes Thank Flag Link Tue Apr 23, 2013
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