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Home Buying in Menlo Park : Real Estate Advice

  • All82
  • Local Info7
  • Home Buying28
  • Home Selling6
  • Market Conditions3

Activity 29
Thu Mar 19, 2015
Robert Applegate answered:
Menlo and Burlingame are the two most expensive areas in your search criteria.
You will get more for your money in any City between the two you mention.
Each one is different, so you should look at what they have to offer and decide which one you think best fits your life style. School district does matter because it drives value and thus appreciation.
From an investment perspective I would say that you should get similar appreciation if you stick with the right neighborhoods.
All the best,
Robert Applegate
Coldwell Banker
650-303-2994
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0 votes 6 answers Share Flag
Thu Sep 6, 2012
Glen Mitchell answered:
Not sure I follow you. Are you trying to verify that they own the house? There are a lot of scams out there for people that say send them the money and they will send you the keys. Don't do it!! ... more
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Tue Jul 31, 2012
David Tapper answered:
Hi sccbuy, I don't know what numbers you are referring to, but if you combine both the East and West side, the numbers will be pretty low. By referring to the East side, I'm talking about East of 101.

The reason for this are the foreclosures and short sales. Here is a scenario, Let's say there were 20 homes sold in a particular month and 12 were short sales and foreclosures, with the rest normal home sales, the medium price is going to be way down.

Like I said, I don't know what numbers you are looking at, but I would adivse you break them down in areas or neighborhoods rather than cities.

Best,

Tap
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Mon Apr 16, 2012
Marcy Moyer answered:
ABC,
The Willows tend to be more expensive than Flood Park for several reasons. It is closer to downtown Palo Alto and downtown Menlo Park. It is a larger neighborhood so there are more streets that do not hear any or much noise than Flood Park. Flood park tends to be noisier than most but not all of the Willows so that affects value. While nether neighborhood has a lot of new or newer construction there is more in the Willows.

Marcy Moyer
DRE 01191194
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Wed Jun 19, 2013
Dallas Texas answered:
You need to contact a Realtor who will request your lender approval show you the property .


Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
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Sat Feb 5, 2011
Billy McNair answered:
Hi Juliette -- Foreclosureradar.com is very accurate and current although it is a paid service.
0 votes 11 answers Share Flag
Mon Jan 3, 2011
Tim Moore answered:
If it is a listed property then any local Realtor should be able to help you. You need only call any agent, give them the address and they can make arrangements to get you in to see it. You don't need to sign anything and you certainly won't spend anything other than the time it takes to meet your agent and go see the house. You only need one agent so find one you like and work with them to see that house or any others that are of interest to you. ... more
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Thu Nov 18, 2010
Lisa Keith answered:
Go to mlslistings.com (the consumer site), check the search criteria you want, and then look at the 'Market Snapshot'. It shows average active and sold prices.
0 votes 2 answers Share Flag
Sun Aug 29, 2010
Marcy Moyer answered:
Julesmck,
This home was just listed on Monday and by the numbers is not overpriced for the neighborhood. It feeds into Menlo Park schools and many of the nearby comps on Redfin are not inthe MP school district so they will not sell as high. In my opinon there is np scenerio where this would work as a student rental. Here is why: The only school that is close by is Stanford. Stanford provides housing for all of its undergrad students so they are out of the picture. Also, Suburban Park is about as far away as you can get from Stanford and still be in Menlo Park. The undergrads are not loking for rentals, so the population looking are generally grad students and post docs and they are looking for year round rentals, not school year. Another problem is that in this part of the world land is more valuable than structures so what you are paying for in this house is more for the lot than the home. If you are going to buy a rental you would be better off buying something with more bedrooms and a smaller lot. Condos and townhomes are a more popular choice for rental properties in this area because you get more rentable area per dollar spent than in a single family home. A duplex or tri-plex is also more popular for the same reason. So if you want to purchase a rental property in the area I would advise looking in the Sharon Park area which is close to campus or in Redwood City where prices are less.

Marcy Moyer
DRE 01191194
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Fri Jun 4, 2010
Jeff Tung answered:
Hi Aneeta,

You might check with the police dept. to see if the Morgan Lane area is considered "risky". Here is their website, http://www.menloparkpolice.com/. You can also check the crime statistics too. ... more
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Thu May 27, 2010
Holder Real Estate Team answered:
Hi Sfliving.

Do you have any specific questions or concerns about these homes? What kind of information are you looking for?
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Wed Oct 21, 2009
Leonette Stafford & Tony Stafford answered:
Flood Park is a little known secret in the Menlo/Atherton area. There are some areas that are close to the freeway but are less desireable, with that being said, it is a great location - convenient to freeways and major streets. Three of the neighborhoods have that desireable "Leave It To Beaver" feel. Lower prices than other Menlo Park neighborhoods farther away from shopping and restaurants than the Willows area. ... more
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Fri Oct 9, 2009
Earl Girbovan answered:
The best palce to look would be at Craig's List, and see what comparable homes in your neighborhood are renting for. If you haven't rented out a property inthe past, I would also suggest that you join the California Apartment Association. They can help you with rental forms that are up to date and protect your interest. I would also suggest that you open up a separate bank account specifically for the rental property. This will make it easier when tax time comes. ... more
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Wed Jul 1, 2015
Marcy Moyer answered:
Michael,
Belle Haven is smaller than East Palo Alto and most of the homes are from the 40's and 50's with not much new development or condos like there you can find in EPA. One exception is a new green development by Clarus which was built 2 or 3 years ago. The original lots are smaller, 4-6,000 square feet which is also unlike EPA where there were many large parcells that were recently developed with new homes. The community seems a little quieter to me than many of the EPA streets. The school district is the same, Ravenswood. Menlo Park has been talking about a plan to stabilize home prices in Belle Haven by buying foreclosures, renovating, and then re-selling them. I think if this happens it will help to increase the values in that community. What will happen in 5 years is anyone's guesss. I do not see this neighborhood either jumping ahead for falling behind the trends for other areas.

Marcy
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Fri Apr 9, 2010
Lisa Lewis Hoeflich answered:
Hi StillwaterII,

The area west of 101 is having positive growth. Most homes are modest post war homes built in the 40's and 50's 2 bdrm 1 ba homes are generally priced in the mid 700 to mid 800K range. In recent years there has been steady improvement to the existing homes and some that have been rebuilt alltogether. You can find homes in the 1.5 to 2M range as well. The Willows neighborhood has also expereienced a recent improvement to it's community centers, schools, parks etc. The location is central if you have a commute into SF or SJ. The area had sustained the economic downturn fairly well, holding property values to about the 2006 level with fewer foreclosures than other surrounding west of 101 areas.

I'd be happy to take you on a tour of the area, or send you property listings that match your criteria. Please feel free to request additional information from me regarding your home search.

Kindest regards,
Lisa
Broker-Officer
A Piece of the Planet
650-804-6764
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Fri Apr 9, 2010
Inspiration Home Staging answered:
Are you selling your home? My guess is that the train will have an impact on the price depending on how far away you actually live from it.
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Wed May 18, 2016
Brendan Aiello answered:
Hi Chi-Hua,

The PR Status generally means that there is a contingency in the contract that has yet to be removed. PR directly means Pending with Release.

This usually means that they are willing to take a back-up offer in case the current offer falls though

If you are interested in writing and offer or backup offer on a property, let me know.

Brendan Aiello – Cashin Company Realtors
AielloB@gmail.com
(650) 403-6262
www.BrendanAiello.com
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Fri Apr 9, 2010
Arn Cenedella answered:
Teresa
West Menlo os a very diesriable area and demand is generally strong.
The current market is slower than typical but well-priced homes will st ill sell quickly.
Activity (the number of sales) usually is highest March April May with a slow down as summer goes on and then another pick up in September and October.
That being said, each year is different.
When you ask about "better months for buyers", I assume you mean when the number of competing buyers is low. Is that right?
The market in Menlo Park is not very seasonal, there is NOT a time of the year where you can buy for 10% less than at other times in the year.
My advice is that when you find a house you like , fits your needs, and can afford - make a strong offer and go for it.
I hvae been a Menlo Park real estate agent for 31 years.
Menlo Park has excellent schools, a very nice downtown, promximity to Stanford, and a wonderful Civic Center at Burgess.
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Wed Apr 15, 2009
Marcy Moyer answered:
Hi Sam,
You pose an interesting question. First of all the 2 complexes are completely different, although next to each other, and the sales prices have never been comps for eachother. 2160 is only 14 years ld which is very young for Menlo Park. There have been no sales of condos less than 20 years old in the last 6 months, and in fact the last one was on Merrill which was also a 2/2 1200 square feet for $880,000 but that was last August. this is not because there are so few sales in MP, but becuase there are so few newer condos. The locaton of Merrill is very different because it is right downtown next to the train, shops, restaurants, and was built with more modern finishes.

So, the best way to evaluate the value, in my opinion is to look at past sales history of this complex. Simliar models have sold for the following prices:
$740,000 in 2007
$710,000 in 2006
$725,000 and $675,000 (this unit) in 2005
$630,000 in 2004
$501,000 in 2001

As borne out by this list, Menlo Park did not peak in 2006 like some other communities. Things did not really slow down until 2008.

If you go just by the numbers you would assume a 14% decrease in home value from the 2007 price of $740,000, but, that does not take into account whether the seller would or could take $100,000+ less than asking, or that someone would not be willing to pay a premium for a condo that is 14 years old instead of 40 years old like most of the other Menlo Park condos.

Hope that helps!
Marcy
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Sun Jan 18, 2009
Arn Cenedella answered:
Viji:

Menlo Park is a fabulous place to live.
Menlo Park is located within the Sequoia High School District which serves southern San Mateo County.
There are 4 high schools within this district:
Menlo-Atherton
Woodside
Sequoia
Carlmont
I believe test scores are typically in the mid to high 70s - good but not outstanding.
None of these schools are rates as high as the Palo Alto schools.
It has been a while since I have reviewed the stats but I believe about 1/3 of the kids going in Menlo Park go to private high schools - Menlo School, Sacred Heart, St Francis, etc.
Menlo-Atherton has a strong AP program so if your children are in the AP/Honors track I would have no reservations about Menlo-Atherton.
I live in San Carlos and my oldest boy went to Carlmont - Carlmont was fine.
I know many people who live in Menlo Park and their kids have had good experience at Menlo-Atherton.
So the answer to your question is very personal.
Hope this helps.
There is also new construction in Palo Alto you may want to check out.
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