- 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!

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Whenever you’re buying a home, there are some things to keep in mind.  Below is a to do list will help you in finding your ideal home amongst those that are available along the San Mateo Coastal cities of Moss Beach, Half Moon Bay, El Granada, Montara and Pacifica. 

1.  Do research the neighborhood- Look at the house, but also look at the neighborhood. Location is the most important thing, so it’s critical to look at more than the home itself. Be sure to make a list of the things you’re looking for in a San Mateo Coastal neighborhood in order to find an environment that fits your style.

2. Do look at several houses before you buy- If you buy a home without comparing it to other listings in the San Mateo area, you’re likely to overpay or miss out on a great nearby home. Walk through at least three homes before you choose. If you still love the first one you saw, make an offer!

3. Do invest in a professional inspection- Sellers don’t always disclose everything that’s wrong with their home to potential buyers, or they might have done a band-aid job to cover up issues after the sale. Many potential problems, like plumbing and wiring trouble, are not visible at a glance.  Home inspectors know what to look for and can do a thorough job so you’re sure to know exactly the type of home you’re buying- which can save you from unwanted surprises down the road.

4. Do buy based on needs, not wants- The average Americas lives in the same home for about 9 years, so it’s crucial that you think about your long-term needs when buying a home. A smaller home with a gourmet kitchen may grab your attention today, but will you still be enamored down the road when your family starts to grow? Make a list of your needs and stick to it to avoid buyer’s remorse in the long run.

We know buying a home can seem like an overwhelming experience, but keeping these tips in mind can help you narrow down your search and stay focused.  Many sellers are hoping to sell their homes before the holiday season hits, making now an even more lucrative time to buy!  San Mateo Coastal sellers may be more willing to work with you on the price and closing date if they know you’re serious about buying their home.  If you have any questions about the current San Mateo Coastal Real Estate market or are ready to start looking at homes on the San Mateo Coast, please let us know!  We’d be happy to help you find your new home!

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1.) An All-Cash Offer

Obviously, a cash purchaser is always favored by any seller. In today’s real estate market, an all-cash offer is even more enticing. Last month, one in four real estate transactions were impacted by a low appraisal. An all-cash buyer eliminates the need for the bank appraisal.

2.) A Non-Contingency Offer

If you don’t have the cash reserves for an all-cash purchase, the next best thing would be to make a non-contingency offer. To do this you should be already pre-approved for a mortgage and have your current house already in contract. This gives the seller the confidence that you are already a qualified buyer who will be able to complete the purchase.

3.) A Contingency Offer

Some buyers start the process of looking for a new home before their current home is sold. This could be a big mistake. If you find the home you were hoping for (perfect for your family AND priced right), it will be very difficult to get your offer accepted because you are not actually qualified to buy.

Asking a seller to wait for your home to sell is somewhat unreasonable in today’s environment. One of the reasons you would want the home is because the seller priced the home at a value to sell it NOW. They want to know it is sold when they accept an offer. They normally will not even entertain a contingency offer. 

Bottom Line

Unless you have the ability to purchase with cash, the best thing to do is to be pre-approved for a mortgage and have your current house already in contract before looking for the home of your dreams. That guarantees you will get the home you love at a price that makes sense.

Article from KCM Blog

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As the buzz of the market begins to pick up; you may be wondering how to make your home stand out from the competition.  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!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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But what about your San Mateo Coastal home?  Whether you live in Moss Beach, Half Moon Bay, El Granada, Montara or Pacifica; having a healthy home is just as important as having a healthy body.  As San Mateo Coast Real Estate agents; we have a passion for the homes along the coast and a desire to see them in the healthiest state possible!

We’ve gathered ten potential problem areas that you may not even be aware of as harmful, and a healthy solution for each one.  Take a look!

1. Granite Countertops- The United States is seeing a small increase in radioactive or hot granite countertops. Exotic varieties from South America and Africa have been found to contain harmful levels of radon and other radioactive elements. If you suspect that you may have a hot countertop, call a radon technician.

2. Combustion Byproducts- From hot water heaters to fireplaces, there are many different systems that operate using a combustion process. Combustion byproducts include carbon monoxide and other harmful, odorless gasses. Installing a ventilation system or replacing combustion systems with non-combustion or direct vented models in your San Mateo home will help reduce the risks associated with these byproducts.

3. Carpeting vs. Hard Surface Flooring- There are varying opinions about whether carpet is better or worse for air quality than hard surface flooring. Carpeting traps dust, debris, allergens, and mold. Hard surface flooring is much easier to clean and disinfect. And that new-carpet smell? That odor comes from the volatile organic chemicals (VOCs) emitted by standard carpeting. Purchasing carpeting and carpet cleaning products that have been certified by the Carpet and Rug Institute (CRI) will help reduce the potential health risks associated with carpet.

4. Paints, Stains, Glues and Sealers- Lead paint is still a hazard in pre-1975 paint coatings, but even newer dry paint coatings and stains off-gas VOCs. When the time comes to refinish a surface, strip off the old coating completely and finish with a low or zero VOC product, which are commonly available from most major paint manufacturers. Caulking, sealers, and glues also off-gas VOCs and are now available with low or no VOC versions.

5. Dirty Ductwork- This would seem like common sense, but most builders install HVAC ductwork and do not cover it, allowing the duct systems to trap dust and debris for the duration of the construction process. In these cases, every time the HVAC system is used, the homeowner inhales construction debris. There are many duct cleaning services available that can rid the system of construction dust.

6. Air Filters- Every air-based heating and cooling system has an air filter, which is given a MERV rating. A MERV filter of 9 or higher is ideal. Replace old air filters and make sure you clean the filter regularly.

7. Ventilation Systems- Ventilation systems replace stale, indoor air with fresh outdoor air. Which is what you want to breathe in on the San Mateo Coast!  Many older homes do not have these systems. While purchasing a ventilation system or having one installed can be expensive, it is one of the best ways to improve the air quality of your home. A properly ventilated home can also reduce heating and cooling costs.

8. Cleaning and Freshening- Traditional cleaning products and air fresheners can do more harm than good. If using traditional cleaning products, make sure the space is well ventilated and the product has time to dry before children are allowed to enter. There are a variety of green, natural, and alternative cleaning and freshening methods available today. Also, leave your shoes at the door.

9. Plastics- Plastics are one of the most toxic household materials. From food storage to children’s toys, plastics are being linked to a number of health problems. When purchasing plastic products, look on the bottom for numbers 1, 2, 4, or 5. These are the safe plastics. Avoid numbers 3, 6, and 7, unless marked as BPA-free. Immediately discard all of the plastics in your household that are marked with these numbers.

10. Formaldehyde- Many building products, including certain particleboards and composite materials, contain and will off-gas formaldehyde, a highly toxic chemical than can cause reactions ranging from headache to nausea. Although the use of formaldehyde has decreased in recent years, when replacing old flooring and cabinetry, look for formaldehyde-free new products.

We hope these tips are helpful as you consider the health of your San Mateo Coastal home!  Whether you are considering selling your San Mateo home, or plan on living there for years to come; these updates are crucial to your homes’ health and play a part in your health as well!

If you have any questions about your home, selling your home or about the San Mateo Coastal Real Estate market; please let us know!  We’re here to help you in any way we can and look forward to hearing from you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Last year, the stimulus package worked beautifully. This year, comparing the stats from the same period last year, the market is showing how much that stimulus package meant to sales. This year is down significantly. Also, the investor pool where many loans were funded has dwindled. The bottom line was that the real estate market will not look much different over the next few years. Interest rates will level out at around 7%. The concern for high priced areas like California is a government cap on the mortgage interest deduction. The new proposal is a $500,000 cap on the value for the interest deduction. When you fly across the country, every area between the West and East coasts would be OK with the cap at $400,000 or even less. So there won’t be enough of us to speak up and be heard on placing a lowered cap. Now this next one is a biggie-in 2013 any appreciation from a home sale that goes over the new cap, proposed now to be $500,000, will be taxed at 3.8%. Lastly, Fannie and Freddie loans are planning to be phased out. Higher down payments are going to be required to secure a loan.

What all this means to you is about timing to sell. It would seem that with the current information, a buyer might want to close on a sale prior to 10/1/11. You are going to incur the same dynamics when you purchase in a new area. Because you are going to buy and sell, market timing for local prices is less important as they will balance themselves. The known and unknown changes the government makes is what we are going to be most affected by.

The San Francisco Bay Area is an Oasis in the Desert as it is the Gateway to the Pacific Rim, Silicon Valley and the new center for companies like Facebook, Zanga and SalesForce.  New wealthy buyers will be coming from these companies in the next 18 months.

The main reason to buy versus rent is because we need to build wealth.  Renters can take advantage of the same benefits as home owners.  They get the benefit of location but not appreciation.  Now we have affordability and appreciation as inflation is down.  With interest rates in the 5% range anticipated through 2011, this may be the the open window for buyers.

Related: Banks Push Home Buyers to Put Down More Cash (WSJ.com)

In short, Fannie Mae’s new guidelines lean more in favor of personal income over personal assets, which means it’s about what you earn and not what you have.  This, of course, can raise issues for those who are self employed.  Mortgage Advisor and Personal Finance Advisor, Andy Block, recently highlighted the main points of the changes.

DTI RATIO
- The new maximum debt-to-income ratios will drop to 45% from 55%, which could make it more difficult for some buyers to secure a mortgage loan.
- Borrowers who are at the end of their current mortgages with 10 or fewer payments will now have these remaining balances counted in the DTI ratio, which is a departure from previous Fannie Mae rules.

MISSED PAYMENT - Buyers who miss a payment will have 5% of the total balance added to their debt-to-income ratios. (Previously, Fannie Mae ignored a missed payment or required that the lender add a few percentage points to the total balance when calculating the DTI ratio.)

BORROWERS WITH FORECLOSURE EXCLUDED FROM FANNIE-BACKED LOANS FOR 7 YEARS- Borrowers who have gone through a foreclosure will be excluded from obtaining a Fannie-backed loan for seven years (up from four). This change was announced separately from the gift and debt rules, but will also take effect in Fannie Mae’s automated underwriting systems next month.

GIFTS/GRANTS TOWARDS DOWN PAYMENT
- Buyers can use grants from nonprofit groups or gifts from family members for their minimum 5% down payment (which is the threshold set by Fannie Mae). Previously, borrowers had to contribute a minimum 5% down payment from their own funds, but additional down payment money could be from a gift (though never from a home seller). The exception was for borrowers who put 20% down: all that money could come as a gift. The gift rules apply only to single-family principal residences, including town houses, co-ops and condominiums, and covers mortgage amounts in excess of 80% of the property’s value.

FANNIE LOAN LIMITS THROUGH SEPTEMBER 30, 2011 - Fannie Mae has indicated that the general loan limits for mortgage loans originated on or before September 30, 2011, will remain unchanged from 2010 limits, which means $417,000 for a one-unit property in the continental U.S. and $729,750 for designated high-cost areas for a one-unit property in the continental U.S. For mortgage loans originated after September 30, 2011, revised “permanent” high-cost area limits will apply.

As always, we’re here to help!  If you have questions about the new Fannie Mae guidelines, please let us know!  Buying a home in any of the charming coastal cities such as Moss Beach, El Granada, Pacifica, Half Moon Bay or Montara is a great investment and a large decision.  It can be overwhelming to attempt to navigate the San Mateo Coastal Real Estate market on your own, so let experienced San Mateo Coast Real Estate agents help!  We can make the home buying process a smooth and efficient one.  We look forward to hearing from you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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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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This weekend, October 16-17, marks one of the most awaited events in Half Moon Bay!  The 40th Annual Half Moon Bay Art & Pumpkin Festival is season’s signature event and has been well-loved for forty years!  Historic Main Street in Half Moon Bay hosts this free festival that has helped give the city it’s “World Pumpkin Capital” nickname.  Each day, from 9am to 5pm, you can get a taste of the fall bounty that Half Moon Bay has to offer, plus much more!

You’ll get to see the largest pumpkin imaginable (envision the size of a Volkswagen!), taste the best pumpkin pie, and pick out your own pumpkins from among the crop of 3,000 pumpkins that are available!  Entertainment abounds on the three different stages and the home-spun parade that will take place at 12pm on Saturday!  Pie eating contests, costume contests and pumpkin carving contests are great for those with a competitive spirit and those who enjoy cheering them on!

The artistic portion of the festival is incorporated through the booths set up along several Half Moon Bay city blocks.  Come see over 250 artisans as they feature original work in sculpture, paintings, photography, glass, ceramics, textiles, jewelry, leather, wood, metal and mixed media!  Whatever your artistic style; you’ll be sure to find plenty of items from which to choose!  Visit the Half Moon Bay Art & Pumpkin Festival website for more information.

We hope you get the opportunity to experience this highlight to Half Moon Bays’ Fall season!  If you enjoy visiting Half Moon Bay each year for this festival and have been considering a move to the area; let us know!  We would be happy to show you available homes in Half Moon Bay that will fit your style and needs!  Thanks for taking the time to stop by our site and learn more about the Half Moon Bay Art & Pumpkin Festival!  Feel free to contact us today with any questions you may have- we look forward to hearing from you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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