The San Mateo community

But while being a business owner is a great deal of work, it is part of the American dream. The downside is that if you are in the market to purchase a new home in San Mateo and are planning on applying for a loan based on your self-employment income, you may be faced with some challenges you weren’t expecting.

Unfortunately the current economic situation has forced many lenders to tighten their requirements and that may make getting a loan more difficult than in past years for self employed home buyers. Here’s the score on what today’s lenders are looking for.

1. Forget about a ‘stated income’ mortgage – you are going to need tax documents, bank records and at least a two year history of business stability for a lender to even consider your application. Even if you are just branching out in the same kind of business that you have done for years, expect tight requirements and nearly perfect credit to move forward with qualifying.

2. Do your homework – research the banks or mortgage lenders you want to approach and find out exactly what paperwork and documentation they require to process a loan for a self-employed borrower. Spend time putting your documents together carefully and thoroughly in advance of your application.

3. Look for lenders who have a track record of accepting self-employed borrowers and try to meet with them in person to review your paperwork and find the right kind of loan package for your needs and situation.

4. Take a break from write-offs for a couple of years – those tax deductions help with your disposable income, but they also take down your gross income level. Lenders want to see a good debt-to-income ratio,not how clever you are about expensing your income away. Direct any questions about how to manage your expenses and write-offs to your CPA.

5. Stay liquid – build your bank account so that lenders can see your ability to make payments even if you have seasonal or other fluctuations in your income levels month to month or year to year. A solid savings plan and liquid assets can be helpful in getting your application approved.

Finally, if you have a strong co-signer, one with great finances and a steady income, you may be able to overcome your lender’s concerns and hesitation when it comes to considering the source and level of your personal income.

Are you self employed and have more questions? Contact me for more information, I would be happy to help!

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  As San Mateo Coastal Real Estate agents; we understand the importance of hosting a great open house.  Buyers want to see the ins and outs of your home and there are six key ways to help your home have a successful open house!

1. Make it Generic- While it’s great to make your home personal, your pictures, children’s art or your to do list on the refrigerator can be a large distraction to potential buyers.  They need to be able to envision themselves in your home, so putting away those personal items will help buyers picture their life in your coastal home.

2. Clear Counters- Look at your kitchen or bathroom counters from a outsiders viewpoint.  Do you have too many appliances cluttering your kitchen counter?  Clearing this space will make their appear to be more room for cooking or their own storage.  If your bathroom counters are filled with perfumes, toothbrush holders, etc… take time to put them in cabinets or drawers so buyers can see the actual size of the space.

3. Set the Table- This may not seem necessary, but having your dining room table set with nice place settings add a touch of class and can help the San Mateo Coastal buyer envision hosting their own dinner parties.

4. First Impressions- Believe it or not, a nice doormat or attractive porch can really set the tone for the entire open house.  If there’s an old doormat , chipped paint or nothing special about the entrance to your home, buyers may feel that you don’t really care.  A welcoming setting from the start will instantly let buyers know that your home is well-maintained and that each area of your home is cared for.

5. Get to the Heart- The best way to appeal to the buyers’ heart is through offering something special when they walk in the door.  Whether you bake fresh cookies, have hot chocolate or coffee in the cooler months, or have lemonade for them on your counter as it starts to get warmer; these added touches will set your home apart.

6. Don’t Stick Around- While it may be tempting to want to hear what the potential buyers have to say, it can be awkward when the seller is present.  They will feel that they can’t openly express their thoughts to the agent and will not feel as comfortable when looking throughout the home.  Even if you take a walk through the neighborhood, being away from the home during an open house can make all the difference.

Hosting an open house can seem like a nerve-wracking process, but it’s the best way to get your home sold.  By taking note of these tips; you’ll be well on your way!  If you have questions about selling your San Mateo Coastal home; please let us know!  You’ll want someone who knows the area, has experience in selling homes on the coast and can be with you every step of the way.  Feel free to contact us with any questions you have or to learn how we can help sell your home!

If driving along the coast on Highway 1 is your style, soaking in the ocean breeze and enjoying the scenery; head down to the Wilder Ranch State Park this Saturday!  Just North of Santa Cruz, the Wilder Ranch State Park offers 34 miles of hiking, biking and equestrian trails that venture along coastal terraces and valleys.  This Saturday, October 23, the park is hosting the Heritage Harvest Festival from 11am-4pm!  Celebrate the harvest with various activities, living history demonstrations, live music, and the chance to create crafts.  There will also be draft horses and tractors on show, which offers great fun for the kids!  For more information call 831-426-0505. Enjoy the beautiful autumn season outdoors and relax with family and friends at this fun festival!

If, however, you prefer a more task oriented approach to the weekend; we’ve gathered up four great ideas that will, not only leave you feeling productive, but will boost your homes’ appeal!  If you’ve been considering selling your San Mateo Coastal home; these improvements will help set you apart from other homes on the Coastal Real Estate Market!   Of course, some of these may take more than just a weekend, but will pay off in the long run!

1. Mid-Range Bathroom Remodel- Spend money to remodel your bathroom and it’s likely to come back to you when you sell, particularly if you focus on the master bath. In many Coastal homes, it’s a better investment to update what you have than to spend more to add on. Some ideas include: replace the vanity and add a nice sink, replace the toilet, replace a tub with a glass door shower to create space.

2. Siding Replacement- Exteriors are often neglected. If you do a gourmet kitchen, but the rest of your  house doesn’t wear that same coat, it takes away value. Fiber-cement siding can resemble stucco, wood siding or cedar shingles. It resists fire and some brands offer 50-year guarantees.

3. Minor Kitchen Repair- If your kitchen has good flow and functions well, a minor remodel will pay off at resale. It’s easy to overspend remodeling the kitchen, but you can’t go too low-end or the kitchen will look cheap. On the other hand, don’t spend thousands for professional-grade appliances unless you’re in a high-end property.  If you’re trying to keep costs down, consider refacing the cabinets with new door, drawers or handles.  New stainless steel appliances add a clean and professional air while fresh, neutral paint can quickly boost a kitchen’s overall mood.

4. Attic Bedroom- This space is often unused, yet it can add a lot to a home!  Turning an unfinished attic into a 15×15 third or fourth bedroom with a 5×7 bath really gives your Coastal home an added bonus that other San Mateo Coastal homes may not have. The payoff for remodeling this existing space is higher than the payback for adding new space. Even putting in a modestly priced master suite addition typically costs about twice as much as finishing an attic and the return (82.4 %) is lower.

Even a one or two of these updates will help your home stand out in the San Mateo Coastal Real Estate Market!  If you’re beginning the process of selling your home and haven’t found a San Mateo Coast Realtor yet, please let us know!  Our years of experience and knowledge of the markets will make the home selling process run smoothly!

If you make your weekend plans early in the week; we hope this events or tips for ways to improve your home will spark some ideas!  As always, let us know if you have any questions or if we can help with home buying or selling process!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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The breathtaking town of Pacifica is located just 12 miles south of San Francisco and is known for its natural beauty.  If you’re looking to move to a town where you can enjoy the outdoors, Pacifica may be just the place!  There are many hiking trails that wind through forested canyons and along the coast where you can enjoy ocean views.  Pacifica has a rich history and well-loved community spirit that welcomes newcomers in with open arms.  So, how do you know if a Pacifica home is right for you?  Here are four great ways to determine your next move!

1.  Location, Location, Location- You’ve heard it many times, but the location of your home plays a large role in your quality of life.  Is the Pacifica home you’re hoping to buy close enough to your work place or, if not, are you willing to deal with the commute?  Another good factor to look at is the school system.  Even if you don’t have children, a good school system can come into play when reselling your home.  Luckily, Pacifica is home to many great schools!

2.  Home Features- Come up with a list of important features you are looking for in your Pacifica home.  Of course the number of bedrooms and bathrooms is almost always first on the list, but take into consideration storage space, room for pets, a growing family or need for guest space, and the amount of potential projects versus the home being in move-in condition.

3.  Ask Questions- It’s exciting to take tours through beautiful Pacifica homes, but make sure you are aware of the pros and cons.  Feel free to ask your Pacifica Realtor any questions openly.   A few good questions would be:  How much are property taxes?  Which appliances are included and how old are they?  Have there been any major repairs to the home and, if so, when were they completed?

4.  Scrutinize- Look at the home from an objective perspective.  It may be easy to get swept away by the stunning Pacifica views or a few key features, but don’t be afraid to do a thorough inspection of the home.  Look in closets and cabinets, take note of the window casings,  examine walls and ceilings to note any damage, etc…  You’ll feel better making an offer on a home that you feel meets your standards.

We hope these tips have been helpful as you search for homes in Pacifica!  If you have any questions about Pacifica or any of the other San Mateo Coastal areas, please let us know!  We would love to help you in your home search as our goal is to make the home buying process as stress free as possible!  Contact us today!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
View San Mateo Area Open Houses
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- Solds:  Research homes that have recently sold in your area that are similar to yours.  Seeing what other properties are selling for will give you a good idea of your homes’ value.

- Expireds:  Many listings are put on the market at the top asking price or even overpriced.  You will see that these homes will sit on the market and will eventually expire as there are not buyers willing to pay the asking price.  Looking at these listings will give you an idea of what buyers are willing or not willing to spend.

- Currents:  How does your property compare with current homes on the market?  It’s a buyers market so they, in effect, determine the value of your home.

- Value Boosters:  These include any maintenance or improvements that will boost the value of your home.  Keep an open mind to change as buyers preferences may not be your preferences. These changes to your home can change a buyers’ mind.

As there are many factors that play into a home’s value, determining what your home is worth can be tricky.  If you are starting to look into selling your home and have questions, we’d love to help!  We can give you the most up to date information on the San Mateo Coast market and will assist you from the beginning to the end of the home selling process.   We look forward to hearing from you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
Visit Our Website
Email Us

For windows and housecleaning, I have used and highly recommend White Glove Housekeeping. Francisco can be reached at (650) 773 4033.

His father-in-law Rick does handyman work (fences, spackling, painting, prepping houses for sale) and helps Francisco.

Thanks to tipster Cynthia Stern for her recommendation!

Jim is a nice guy and his shop has been around a long time. The job was excellent and if you need anything like this done, go see him.

ABC Body Shop
4007 Pacific Blvd, San Mateo, CA 94403
(650) 341-5654‎