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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SF Peninsula — Our Burlingame offices report a steady to improving market. The Hillsborough market over $2 million is “robust” as long as the price is reasonable and the home is well staged. Hillsborough is often perceived as a bargain compared to other high-end markets on the Peninsula.

Across the hill in Half Moon Bay, our local manager says there has been a noticeable drop in activity on the coast these past couple of weeks. Buyers continue looking but are not writing offers. Our Menlo Park offices say they are seeing strong sales in the over $2.5 mil market – a $3.85 million listing in Menlo Park is getting three offers today!  Buyers are exhibiting even more discretion as the ratio of houses sitting while others go multiple is rising.  Houses sit until the price is reduced and then the buyers jump. The “off-the-market” high-end properties continue to attract buyers. With all the technology we have, word of mouth networking continues to be a factor. One recent off-market sale went for $7.9 million in Atherton. The Redwood City office says inventory is still low.  Open houses, particularly first time opens, are extremely well attended.  The attitude of the buyers seems to be positive. Palo Alto remains a very strong market with more than half of the transactions getting multiple offers. Finally, the San Mateo and the Woodside markets are holding steady. The over $3 million market is doing well with three sales over this price in the last couple of weeks. Woodside is slowly waking up. Portola Valley has been much stronger the last couple of weeks – brisk sales of $1.3 million to $4 million.

In summing up last week’s Bay Area real estate market, Rick Turley, President, SF Bay Area, Coldwell Banker Residential Brokerage added;

“We continue to see a mixed market throughout the Bay.  The common thread seems to be low inventory at the entry level and generally more multiple offers in the entry level. The mid-price market is probably the most perplexing with a lack of move-up buyers.  The increased activity at the Luxury end is certainly a strong sign, but common thread here is that this sector remains very price sensitive; luxury buyers are pulling the trigger when they perceive value.”
If you would like to read the entire report , go online to www.cbsfbaymarketwatch.wordpress.com

Ready to start looking at what is available in the area?  Start your Home Search today by visiting Coastal Real Estate

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)

Pacifica is home to a large 86 acre piece of land called The Quarry due to its former use as a limestone quarry.  For years it has been debated on what this beautiful piece of land located west of Highway 1 between the Rockaway Beach area and Vallemar should be used for.  Some considered this an opportunity to build a downtown for Pacifica as this is something that isn’t currently present in this charming city.  Would shops, restaurants, and additional living opportunities be the best use of The Quarry, and how would this change Pacifica?  These are questions that business and civic leaders in Pacifica have been wrestling with, and are still considering.

Recently, PacificaPatch writer Camden Swita, interviewed Jim Heldberg, owner of Silicon Segway in Rockaway about the options for The Quarry.  Below are the two videos of that conversation.

Whether you currently live in Pacifica or are planning to move to the area; we’d love to know your thoughts!  The great thing about the San Mateo Coastal towns of Pacifica, El Granada, Moss Beach, Half Moon Bay and Montara is that they are communities that truly care about their residents and what is best for the city.  There are always ways to get involved and be heard in these communities and right now is an ideal time to be heard in Pacifica.  You can view more information, give your feedback and stay tuned to updates on PacificaPatch.com.

If you have questions about living in Pacifica or about the Pacifica Real Estate market; please let us know!  We have been helping people find homes along the San Mateo Coast for years and can help you search out the home that best fits your needs and lifestyle.  Please feel free to contact us anytime to begin your Pacifica home search!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Whether you currently live in one of these great communities or are looking for ways to help the environment along the San Mateo Coast; there’s a fun way to get involved in this weekend in Half Moon Bay!  Half Moon Bay is home to beautiful beaches and coastal views; it would be devastating to see this taken away from us.  That’s why volunteers commit to keeping our shores clean and healthy, and why you’re invited to get involved!

Join many at the Half Moon Bay State Beach this Saturday, February 5 from 10am-1pm for a Habitat Restoration event!  The Half Moon Bay State Beach is four miles of stunning sandy beaches which are great for fishing, sunbathing and picnics!  There is also an area for camping for those who enjoy spending the night underneath the stars.  The Visitors Center for the beach is open on Saturdays and Sundays and is free to take part in.  You’ll learn about the environment that makes up the Half Moon Bay State Beach as well as its history on the San Mateo Coast!

The Half Moon Bay State Beach Habitat Restoration is designed to keep people enjoying the beach for years to come!  Volunteers will help by working in the field to plant native trees, remove non-native trees, gather native seed, as well as helping to maintain trail fencing and the habitats of threatened species.   Be sure to dress in clothes that can get dirty and be prepared for any type of weather!  The event will go on rain or shine!

This is an ideal opportunity for students, corporate volunteers, families, youth groups and anyone interested in volunteering!  You’ll not only be helping the San Mateo Coast, but will also get to know which plants are native to our coastline and will learn how to cultivate these plants!  Gather your friends and get involved!  View more information on the Habitat Restoration.

If living in the San Mateo Coast sounds like the lifestyle for which you’ve been searching; let us know!  We’d enjoy the opportunity to show you around the San Mateo Coast and answer any questions you may have about the San Mateo Coastal Real Estate market!  We look forward to hearing from you and hope you get to take advantage of helping to clean up our coast this weekend!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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While we don’t want to start thinking about the holidays being over, there is the thought of taking down the decorations and putting the holiday cheer away until next year.  This year, however, taking down the Christmas tree doesn’t have to be a drag! The San Mateo Coast is very in tune with its environment and wants to accommodate its residents who have enjoyed having a fresh Christmas tree over the holidays.

San Mateo County’s waste services are providing free Christmas tree recycling!  All of the trees will be reused around the cities along the San Mateo Coast- which is a great way to give back to our environment.  Most of the trees will be turned into mulch or compost except for flocked trees which cannot due to their chemicals.  The flocked trees will still be used in other ways, so any tree donated is sure to be recycled!

4 Easy Steps to Recycle Your Christmas Tree:
- Remove all decorations (including tinsel)
- Do not bag your tree
- If your tree is large (8ft or more) please cut the tree in half as a courtesy to the drivers. (If you are not able to do this, your tree will still be taken)
- Leave your tree curbside

Below is a list of the Curbside Services along with the dates of pickup and any special instructions:

Provider: Allied Waste
Dates: 12/27-12/31- On your regular recycling day
Customer Assistance: (650) 592-2411

Leave tree next to(not in) the green Yard Waste container. Multi-family dwellings call Customer Service to arrange pickup.

Provider: Half Moon Bay
Dates: Anytime after December 26 – On your regular recycling day
Customer Assistance: (650) 592-2411

Leave tree next to(not in) the green Yard Waste container.

Provider: Recology San Mateo County
Dates: January 1st through January 31st -On your regular service day
Customer Service: (650) 595-3900

Leave tree next to your green Compost cart on your regular service day.
Multi-Family Dwellings: Call us to determine the best location for a consolidation of loose trees or to place a bin or drop box.

Provider: Recology of the Coast
Dates:  December 26-January 31 -On your regular service day.
Customer Assistance: Pacifica, (650) 355-9000; County Areas, (650) 355-8400

Pacifica Residents Only – If you are unable to place tree curbside during this period, cut up your tree and place into your green Organics cart. Make sure the lid closes completely for service.

We hope this information is helpful to you as you begin your holiday cleanup!  We have enjoyed living on the San Mateo Coast and appreciated the emphasis each of the towns along the coast places on caring for our environment.  This is just one more way we can help make the San Mateo Coast a better place to live!

Whether you’re staying around the San Mateo Coast or are traveling this Christmas, we hope you have a great holiday!  We look forward to working with you in 2011 to help you navigate through the Coastal Real Estate Market!

Happy Holidays!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Fisherman had to wait for the go ahead until the quality tests were conducted, and were then given the “ok” to set their pots for catching.  According to fisherman in Half Moon Bay, the initial few weeks are very telling of how fruitful the entire crabbing season will be. It seems as though this year’s season found that not many crabs settled in the area, meaning a harder year for the fisherman.  There’s always a gamble, and an ever-present hope that crabs are in abundance.  Although the crab numbers are not desirable, the San Mateo Coast fisherman will make the most of the season as they always seem to hope for the best.

Of course, residents along the San Mateo Coast will make it a point to enjoy the crab this season, even if prices rise a little from the lack of supply.  Some of the best places for tasting the Dungeness crabs are Half Moon Bay and Pacifica!  You’ll find boats filling Half Moon Bay which allow you to buy fresh crab right off the boat!  Enjoy meeting the fisherman and getting their insight on the best ways to cook the crab along with their favorite recipes that enhance the flavor.

Want to catch your own crab?  Head to Pacifica where you can go crabbing right off the pier! Rusty Hook Bait & Tackle will provide you with all the gear you need such as a crab right, gauge, bait box, bait and bucket for around $35.  They’ll give you a quick lesson in catching the crab and the rest is up to you!  This is a great way to enjoy crab season to the fullest!

We enjoyed a taste of fresh crab a few weeks ago and can attest that the flavor of the crab is the best it’s been in years!  We picked up our crab, which was cleaned and cracked for us at Princeton Seafood in the Harbor in Half Moon Bay.  Yum!

Crab season is just one more reason to find a home on the San Mateo Coast!  If you have been considering a move to any of the coastal towns of Half Moon Bay, Pacifica, Montara, Moss Beach or El Granada- let us know!  We’d be happy to show you around and help you find a home that fits your needs and lifestyle!  For those currently residing on the San Mateo Coast- Happy Crabbing!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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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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Half Moon Bay is a great place to live with its beautiful homes, sweeping ocean views, excellent schools and charming downtown area.  If you currently own a home in Half Moon Bay, you know what makes Half Moon Bay so unique.  If you’re looking for something to do this Friday in Half Moon Bay; you won’t want to miss the Holiday Extravaganza from 6-9pm in downtown Half Moon Bay!

The event begins with the Tree Lighting ceremony at 6pm at Mac Dutra Park, and is followed at 7pm by the Parade of Lights down Main Street.  Children and adults alike enjoy seeing the holiday floats pass by while twinkling lights and a sense of holiday magic fill the air!  An old-fashioned fire truck will guide the parade’s most honored guest, Santa, to his special seat where children can take pictures and give Santa their wish lists!  Other activities included in throughout the evening include snowflakes on Main Street, strolling carolers, chestnuts on an open fire, and much more!

If you’ve never visited Half Moon Bay, now is a perfect time to see the city!  Restaurants and shops will be open late this Friday so you’ll be able to enjoy the tastes of Half Moon Bay as well as take care of some Christmas shopping well into the evening!  You’ll enjoy all that this San Mateo Coastal town has to offer and will see why so many love to call Half Moon Bay “home.”

Whether you are currently living in Half Moon Bay or are considering buying a home in the area and have questions about the Half Moon Bay Real Estate market; please let us know!  We’d love to answer any questions you may have as we are equipped with years of experience as San Mateo Coast Real Estate agents.  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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