Got 1/2 Mil? Welcome to East San Carlos

1035 Northwood Drive, San Carlos

What’s considered entry level for buying a house in San Carlos?  Depends on which side of town you’re talking about.

On the West side, it’s anything under a million, although move-in ready houses priced between $700,000-$800,000 go fast, some with multiple offers.  On the East side, entry level is lower, although still not cheap.

On this Sunday during the long Labor Day weekend, realtor Wayne Rivas - who represents buyers and sellers on the Peninsula and in waaay upscale Woodside & Portola Valley – says mostly young couples showed up at his open house at 1035 Northwood Drive, east of El Camino and north of Holly.  The 2/1, 820 square foot house is listed at $539,950.

“I’m seeing a lot of people who want an alternative to condos because they don’t want to pay the association fees,” Rivas said, adding those can add $300-$400 a month on top of a mortgage payment.

Rivas says he’s also seeing a number of young buyers looking to take advantage of FHA loans, which allow down payments as low as 3.5% although have requirements for a property to qualify.  (Bank owned repos usually don’t, Rivas says, because they’re often missing appliances or suffered some damage.)

The Northwood Drive listing is in the Clearfield Park neighborhood, also known as the “Murphy tract” after the builder.  The Murphy tract – about five blocks wide – is distinctive because most of the houses are made of cinderblock, although some have been stuccoed over.

Surprising big back yard for small house

The most recent house in the “starter neighborhood” of Clearfield Park sold for $535,000; houses that have been added onto sell for more.

 

 

 

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