What’s with all the homes for sale in Belwood right now?
If you live in or near Belwood of Los Gatos, you’ve probably noticed a proliferation of “for sale” signs recently – and also a “coming soon” sign here or there! (I saw one of those at Westhill and Blossom Hill Road yesterday).
At the moment there are 3 available homes in Belwood and Belgatos – none in Surmont – (plus one on Harwood and one on Gemini Court as well as one on Regent) and there are three under contract or sale pending.
The homes for sale range in list price from a high of $1,295,000 to a low of $960,000 with an average list price of $1,078,300 and an average price per square foot of $504.50 (average days on market 32). Those which are sale pending vary from $1,199,000 to $900,000 with an average asking price of $1,049,667 and average price per SF of $439.04 (average days on market 23). It’s not rocket science that the more affordably priced homes tend to sell while those with higher asking amounts linger! Buyers want the most value for the money they spend. That can mean a bigger house or it can reflect the quality of remodeling or improvements at the property.
The ratio of listings to sales isn’t bad – 3 available, 3 under contract.
What has sold recently? Just one property has sold and closed in the last month: it was a 4 bed, 2 bath, 1748 SF model that closed escrow at a low, low price of $840,000. (The same floorplan is on the market for $960,000 on another street in the neighborhood – makes it a tough sell!)
With 3 available and 1 closed in the last months, it’s 3 months of inventory. What’s challenging is that the one which closed is so much lower than some of those for sale.
For 2001, there are 5 homes in Surmont, Belgatos and Belwood which sold & closed. The average square footage is 2100, average list price is $984,600 and average sales price is $967,000. Sales prices ranged from the low, low number of $840,000 to a high of $1,090,000.
The market keep changing – we are seeing multiple offers in many areas closer to Palo Alto. It’s not here yet but give it a little time….
Belwood of Los Gatos July 4th Celebration
The Belwood of Los Gatos community is hosting its annual Independence Day or 4th of July celebration and the details are announced on the Belwood HOA website. (Quick note: A parade begins at Mulberry School (220 Belgatos Road) at 12:15. The neighborhood festivities run from 1 – 5 at the cabaña. Read all about it on the Belwood HOA site!)
Please note that since the weather is really hot and dry, the risk of fire danger is high right now. A sign at Belgatos Park warns that viewing fireworks is strictly prohibited.
Got Facebook? If so, you might consider “liking” the Belwood Cabaña page on Facebook. They are great at keeping people updated on neighborhood events (this is not my page, btw). That’s where I first learned that the holiday is being celebrated in traditional fashion.
Belwood, Belgatos and Surmont Demographics Info Online
Recently I searched online for our neighborhood and saw a link to the City-Data website. It referred to Surmont (most of it), Belgatos and Belwood all as “Belwood of Los Gatos” or “Belwood”. Oh well – it’s not an uncommon mistake!
Anyway, using information from the census and other sources, city-data does provide some interesting demographics on our corner of east Los Gatos, including:
- population listed as 1516
- area listed as .564 square miles
- a list of street names (missed a couple), their length and direction
- when our homes were built (most 1960s)
- the average number of rooms in our homes
- median rent paid in 2009 (there are multi family homes included)
- distribution of ages (kids and people in their 40s appear prominent)
- the types of power we used to heat our homes (22% electricity, 76% gas, 2% other)
- info on occupations of females in Belwood (17.6% in management)
- info on occupations of males (24% in management)
And loads more….Nice graphics with charts displaying the info so it’s easy to grasp and digest.
So go have a peek at the city-data page on Belwood. See if anything there surprises you!
Helicopters repeatedly flying over Belwood and Belgatos Park
Helicopters over Belwood and Belgatos Park on 6-24-2011
My husband, Jim, likes to joke that “if you like helicopters, live in Los Gatos“. We seem to be a chopper magnet, especially in the east Los Gatos areas near Belgatos Park.
Last Friday, and again yesterday, there was a helicopter apparently practicing something as it flew low over Belwood, Belgatos Park and the Santa Rosa Drive area in the hills at the end of Harwood Road. What were they doing?
This is not a new problem for us (and in fact I blogged about it on my Live in Los Gatos blog in the spring of 2007) but there are times I just want to scream at them to knock it off. I finally called the town of Los Gatos, was transferred to the non-emergency police line where a kindly officer said that he’d had a few complaints but no answers as to what was going on. “We’re trying to find out,” he assured me.
Like many, I vented a little on Facebook. One friend thought that the birds were there due to some sort of fencing project. Another suggested that it was a practice run for firefighters pretending to grab water from Lexington Reservoir to put out fires on the Sierra Azule range. Who knows.
Belwood Bingo and Movie Nights Coming Soon
There are two “Bingo and Movie Nights” planned for this summer for cabaña members and residents of Belwood, Surmont and Belgatos so far and a third one not yet finalized:
Saturday June 25 2011: 6:30pm bingo & movie at the Belwood cabaña
Saturday July 9: 6:30pm bingo & movie at the cabaña
August – not yet determined. For more information, keep an eye on the Belwood HOA website.
Homes Sought in Belwood of Los Gatos, Surmont or Belgatos Neighborhoods of Los Gatos
As of late January, 2010, there are no single family homes available in the Belgatos, Belwood or Surmont areas. If you are thinking of selling your home but don’t want to have to do the typical staging and pre-sale work, please contact me. We may have a buyer for your home without having to go through the usual gearing up for the market….
Mary Pope-Handy
408 204-7673
How Is The Real Estate Market in Belwood of Los Gatos, Belgatos, and Surmont (in east Los Gatos)?
The Los Gatos real estate market has fared better than many other parts of Silicon Valley in recent months, but prices are declining, days on the market area increasing and inventory is climing.
The median sales (sold) price of homes is down about 26% year over year in Los Gatos (95030 and 95032). List prices appear to be flat (see graph below, which is from Altos Research, a subscription I have) but in many price points, homes are being reduced multiple times prior to selling.
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The higher priced homes seem to be hurting more than the entry level homes. This is interesting because most of the “correction” we have been seeing is due to the mortgage mess, and a large portion of the very high end homes (more than 3 mil) are not terribly dependant on loans. Many of them are bought “all cash”.
What about our east Los Gatos enclave of Surmont, Belgatos and Belwood? We, too, have rising inventories. At the moment, there are six homes for sale in these three Los Gatos neighborhoods. I can comment a little on these and perhaps it will seem less gloomy when I do.
Two of the six are tenant occupied and difficult to see. They are not being actively marketed except on the MLS (no signs, no ads, no open houses – only the MLS and related web advertising). When homes are hard to see, they are hard to sell. One of them desperately needs a coat of paint and for someone to water the front yard, which has dead grass in it.
Another of the six homes is really large and at the high end of the scale for neighborhood pricing.
That leaves us with three other homes on the market. Every home has some kind of issue, and these three do too, but they are nice enough that they should procure an offer, even if not close to list price.
Having homes on the MLS that don’t sell tends to really hurt the ones that DO want to sell. Bad makes worse.
What next?
It’s hard to say. This morning at the Los Gatos – Saratoga Realtors board meeting, one lender said that it hasn’t been this bad since 1981. So it’s a challenging time for sure!
It’s a good time to buy, but buyers need to carefully handle their loan papers to avoid glitches. Selling is doable, but sellers must realize that it’s a price war and a beauty contest. Homes that aren’t in top condition and priced aggressively are going to have a tough time selling.
Please call me or email me if you would like a confidential meeting to discuss your real estate wants and needs. I’m happy to help!
Mary
PS Please see also my Live in Los Gatos blog – I do market updates about once a week there.
Mary Pope-Handy
877 397-5391
Mary@PopeHandy.com
What’s Happening in Belwood of Los Gatos?
Things have been hopping in east Los Gatos.
Over the weekend, the Belwood of Los Gatos community participated in the “Community Yard Sale” that was happening throughout the town of Los Gatos. The cabaña was a busy place with folks selling their wares at what seemed like a good clip. Additionally, neighbors held yard sales in their own driveways and front yards too, as was the case all over this part of Silicon Valley.
The pool is open and swimmers are happy as the heat has been bearing down on us. To see about scheduling a party there (if you are a cabana member), see the Belwood Community’s website.
Real estate update
The real estate market is busy in Belwood, Belgatos, and Surmont too. There are now seven active listings and two pending sales in these three areas. As with other parts of town, not all homes are selling – only the ones perceived as being “the best value” for the money are getting offers and going to closing.
(For more information on the housing market, please click on the Real Estate button above.)
If you’d like information related to your particular Los Gatos or Silicicon Valley home, please email or phone me! I’d be happy to meet with you, view your home and discuss your wants and needs as relating to buying or selling a home.
Mary Pope-Handy
408 204-7673
mary (at) popehandy.com
How’s the Market in Belwood, Belgatos and Surmont?
Homes in Belwood are selling at the same slow pace as most of the rest of Los Gatos.
Homes that are in top condition and priced well with no “issues” are selling decently. Others are sitting. At the moment (3/19) there is only one home available, two which are sales pending, and two more poised to come on the market in the next month or so.
Did you know that you can see the current list of available homes in the Surmont, Belgatos, and Belwood areas of Los Gatos on this website? Additionally, information on the expired listings and the sold and closed listings are here too. Just click on the “Homes Info” tab to stay current.
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