San Mateo-Foster City Real Estate News

Foster City is divided into 9 neighborhoods and almost all of them have some houses on the water.  This neighborhood report is only about homes sitting at the water's edge.  These homes always command higher prices due to that water view. This week there are two really good buys. 

For Sale this week:

• $905,000 - on the market 8 days - 3 bedrooms and 2 1/2 baths - 2010 square feet and 32 years old
• $940,000 - on the market 42 days - 4 bedrooms and 2 1/2 baths - 2160 square feet and 43 years old
• $1,298,000 - on the market 91 days - 3 bedrooms and 2 baths - 1820 square feet and 35 years old.  Price reduced from $1,335,000.
• $1,980,000 - on the market 39 days - 5 bedrooms and 3 1/2 baths - 3691 square feet and 43 years old

Pending Show this week:

• $1,189,000 - on the market 22 days - 4 bedrooms and 3 baths - 2430 square feet and 28 years old

There were no sales this week.  There were no withdrawn listings, cancelled listings or expired listing.  A Pending Show means there are contingencies in the contract, likely for appraisal, and the property can still be shown to other prospective buyers.  The likelihood of the sale not completing, though, is slim and most agent's do not show a property with this designation.

Get ready! Friday night should be clear and cool, as usual, perfect weather for the annual 4th of July fireworks. Foster City celebrates the 4th of July in Big Style.  Start your morning off with the annunal Lion's Club pancake breakfast, enter your kids in their own parade and plan on spending the day around Leo Ryan Park enjoying the holiday. Play games on the grassy meadow, picnic while listening to the musical entertainment that will take place during the afternoon and have a safe and sane 4th.  The Foster City Lion's Club will be selling food all day long.  It's a major fundraiser for them, so help them out and buy breakfast or lunch at the park. 

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Foster City, as a planned community, has single family homes, townhouses and Condos circling the city.  [There are loads of apartments, too, but we're only talking what's for sale here.] The single family home market is so different from the condo market it's like being in two different cities.  I'll talk first about single family homes, then the condos.  Last week we saw 34 homes for sale compared to today with 28.  The Median price was $1,166,000.  The Average price was $1,190,095.  If you could find it, the least expensive home was listed for $865,000. Today there's one for $868,000 - a steal for Foster City.  Prices have been trending up, but the price per square foot has moved down, along with the average days on the market.  Inventory was up last week, and my guess is that Altos Research's report for this week will show it down.  

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Since I like to write about happenings between Millbrae and San Carlos, summer means free concerts and each of our towns has some for you to pick from.  Make a picnic and grab your blankets to sit on and/or to possibly bundle up.  Bring the family and enjoy the music.  Free is good. When you're leaving the concert be sure to thank the local Park & Recreation people for providing the music.  Belmont kicks off the summer season tomorrow afternoon.

Belmont

Let's start with Belmont. Their concerts are always on Sunday afternoons from 1-4PM at Twin Pines Park on Cottage Lane. They begin in June and run through July.

June 15 - Stompy Jones - Jumpin' Jazz and Swing

June 22 - Refugees - Tom Petty tribute

June 29 - Tom Rigney and Flambeau - Cajun Fiddling

July 6  - McCarty and Company - Pure Country Western

July 13 - Groovy Judy - Flower Power Funk Rock

July 20 - Blue-Rock and Roll Rhythm and Blues

July 27 - D-5 - Rockin' the Par

San Mateo

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http://www.wilkasgroup.com/003A8A

Last year, here, I wrote about the possibility of FEMA updating their flood maps for San Mateo and Foster City and including Foster City into a flood zone.  The maps came out last month and FEMA released preliminary drafts of revised Flood Insurance Rate Maps (FIRM) for the entire County of San Mateo. 

FEMA Has New Methodology

They have determined that a section of levee within the City of San Mateo does not meet FEMA's requirements for adequate flood protection.  Because of these changes in their methodology being used to generate flood plain data, the revised maps show all of Foster City to be in a Special Flood Hazard Zone, or Zone A.

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