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Now is the Time to Buy in the San Mateo Coastal Area!

Nov 1st, 2011
by Kathy Rain.
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If you’re considering buying a home in the San Mateo Coastal area; now is the time!  The San Mateo Real Estate market is seeing steady sales activity along with new inventory on the rise.  Coastal area buyers can benefit greatly from the choices of beautiful homes that are on the market!  Homes prices are still at an all time low across the nation as well as the San Mateo Coast along with historic lows on interest and mortgage rates.  If you’ve been debating on whether or not to buy; these are just a few of the many reasons why now is a great time to start your home search on the San Mateo Coast!

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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Where Are Mortgage Rates Headed?

Jun 7th, 2011
by Kathy Rain.
1 comment

We often talk about the COST of buying a coastal home vs. the PRICE of the home. The price obviously is a major component of the cost. The other major component is the interest rate on your mortgage. A small hike in mortgage interest rate can have a dramatic impact on your monthly payment. For that reason we try to keep you current on what is projected for rates in the future.

Four major institutions project rates: The National Association of Realtors (NAR), Fannie Mae, Freddie Mac and PMI. Here is what each is seeing in the next year.

 

Bottom Line

If you are looking to buy a California coastside home and are waiting to see what will happen with prices, remember interest rates will also impact your housing cost.

Article from KCM Blog

/kh

San Mateo County Weekly Real Estate Update

Mar 21st, 2011
by Kathy Rain.
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We’re happy to report that the weather co-operated with open houses this Sunday.  It will take the rest of the week to tell if the buyer’s were doing more than looking.  Below is the final analysis of how the local real estate market faired  last week, as reported by the office managers.

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

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