San Mateo-Foster City Real Estate News

Hillsborough Market Report

Last week, Hillsborough had 47 houses on the market with a median price of $3,880,000. The average price of all of them was  $4,763,631.  One would think that these houses would sit on the market but they are selling.  Yes, not the way they did at the peak of the market in 2006, but within an average of 87 days, which isn't bad in this market.

Altos Research says this market is a Cool Buyer's Market with an index of 21 and it's moving upwards, too. 

Pent up demand, anyone?  Hillsborough is one of the most expensive and exclusive communities in California.  It's close to San Francisco, the Silicon Valley and SFO and provides secluded properties for senior executives.

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HILLSBOROUGH

The town of Hillsborough, formed when members of the Burlingame Country Club decided that the Village of Burlingame was becoming too commercial, sits on land that was part of Rancho San Mateo, William Davis Merry Howard's vast property purchased from the Mexican governor Pio Pico in 1846.  The Rancho was so large that after Howard's death, the land was parceled into plots large enough to serve as estates for wealthy San Francisco businessmen who wanted to live "in the country" and commute p to the city.

Several of the original mansions still stand today.  Harriet Pullman Carolan, the heiress to the Pullman Railway Car fortune, built Carolands and it remains as one of the largest private residences in the United States today.  William Crocker, grandson of Charles Crocker, built Skyfarm in 1930.  Today it houses Nueva Day School.  Crystal Springs Uplands High School was originally the Uplands mansion, a gift of Templeton Crocker to his fiancée Helene Irwine , heiress to the C&H Sugar fortune in 1912.

William Randolph Hearst built the "Western White House", a mansion of similar structure to his Heart Castle, and it is currently privately owned.

Today, Hillsborough is still renowned for its wealth and diversity.  The trees and wooded hillsides add to the towns beauty.  The three elementary schools and one intermediate school score among the highest scoring in the state.  The town sits just above El Camino Real and below 280.  Most homes are in the hills and many have beautiful views of the bay, San Francisco and the canyons. 

There is no downtown, no industry, and only one park.  When the town incorporated in 1910, they passed zoning laws forbidding any business and practically none exist there even today.  There is one golf course across 280 abutting the Crystal Springs Reservoir, a racquet club and several private schools.  Residents are orientated to Burlingame or San Mateo for most of their shopping.  Hillsborough is truly a bedroom community.

If you live in Hillsborough or Foster City you have disappeared!  You no longer exist.  At least as far as the United States Postal Service is concerned.  Yup.  You no longer exist.  Poof you're gone.  Last week the USPS consolidated zip codes and eliminated any and all cities or towns that share a zip code with a second city.  The "owner" of the zip, such as Burlingame in the case of Hillsborough, or San Mateo in the case of Foster City is now the name of your community. 

This has been going on for a while and you are aware of it if you live in one of these two cities.  You order something

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