Just a few years ago, homes in foreclosure were rare and many didn’t fully understand all was entailed in having a home become “bank owned.”  Today, “foreclosure” seems to be the markets’ buzz word as many are seeing loss of jobs and the markets’ decline in home sale prices.  Consequently, this environment has brought a new term to the surface: underwater homes.  Underwater homes are those that have mortgages that are greater than the home’s current worth on the market.  This, in turn, is resulting in an increase in foreclosures.

Recently, CoreLogic, a Real Estate date provider, noted that there were  11 million homes with underwater mortgages at the end of June.  Of course, this seems to be good news since the number of underwater homes at the end of March was 11.2 million.  However, these homes are simply turning into foreclosures instead of proving that the market is actually turning around.  Typically, underwater homes rise when the market sees falling home prices.

An article by CoreLogic explained, “In all, 23 percent of U.S. homes with mortgages were underwater at the end of June.  Another 2.4 percent of homeowners with a mortgage had less than 5 percent equity in their home, making them more likely to end up underwater if home prices drop further.  The total number of underwater mortgages represent roughly $2.9 trillion in mortgage debt.”

Once homes are underwater, homeowners have a harder time recovering.  They oftentimes are unable to qualify for mortgage refinancing and therefore find themselves just scraping by to make payments in order to keep their head above water.   California is in the top five states for underwater mortgages and has therefore become one of the top states in the nation for foreclosures.

We’ve seen some changes in the San Mateo Coastal area, but are happy to see the numbers are not as drastic as other areas in our state.  Below are current numbers of active and foreclosed listings in our market.

If you have any questions regarding underwater mortgages or are facing a prospective foreclosure; please let us know!  We have years of experience in the San Mateo Coastal area and can help guide you each step of the way!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Pacifica Gardens is an urban agricultural project spanning 30,000 square feet located on an abandoned soccer field at Linda Mar High School in Pacifica.  This project of Pacifica’s Environmental Family, is a non-profit organization with a goal to “increase environmental awareness in the community and in the schools” with a mission of: Educate, Cultivate and Inspire.  There always seems to be something new and exciting taking place at the gardens from workshops to new plants or volunteer opportunities.  Current projects that are taking place are culinary and medicinal herbs, biointensive food gardens, native plants, food donation programs, adult composting workshops and much more!

This outstanding community organization exists because of the help from volunteers and local supporters!  Each Saturday, volunteers are welcome to drop by the gardens to help out!  You can stay all day or just help out for an hour, with any volunteer work being greatly appreciated.  There are opportunities to serve the community on a regular basis by being a part of one of the watering teams or the building team, there are also crews who enjoy native plants, harvesting, planting or picking.  There are a number of ways to get involved!

The next Composting Workshop will be Sunday, September 12 from 2-4pm and is free to attend! Check out the Pacifica Gardens website for more information.  The Pacifica community is a town in which the environment and personal growth are of upmost importance and it spills out into everything the residents do!  If being a part of this great area is something you’re looking into; let us know!  We’d be happy to show you around Pacifica and answer any questions you may have regarding Pacifica Real Estate.  Let us help you find your dream home in Pacifica!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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1. Be expedient and thorough- When initiating a loan, and throughout the loan process, it is imperative to provide complete documentation to your Mortgage Advisor as quickly as possible. For instance, if all pages of the bank statement are requested, it really means all pages. While you and I might not think it’s necessary to include the reconciliation page of the statement, the lenders do. And, when they receive only five of the six pages of said bank statement, the loan process can become inefficient and stalled.

2. Keep detailed financial records- If it is necessary to transfer funds from one account to another or to sell stock for a down payment, keep a detailed paper trail of all transactions, deposits and liquidations. Lenders will request it.

3. Spill the details- Be sure to notify your Mortgage Advisor of any changes to the purchase transaction. Unidentified last minute changes, such as escrow holdbacks, seller credits or termite work can wreak havoc with closing dates.

4. Keep your day job- Lenders always contact your employer just before the loan funds. If you have left that company (quit, moved to a new company or retired), the lender will stop the loan from funding and recording.

5. Know the facts- If you are in the process of divorcing, most lenders will not approve or fund a mortgage loan until the final decree (settlement terms) is recorded.

6. Safeguard your social security number- Talk to your Mortgage Advisor before making any significant credit or purchase decisions. Lenders rely on using credit scores to assist in mortgage credit decisions. Incurring new debt during the loan process increases your debt-to-income ratio and could reduce the amount you can borrow. Each credit inquiry – whether you ultimately make a purchase or not lowers your credit score. The same holds true for pre-approved credit card offers that you receive in the mail; responding to them will result in a credit check.

7. Be available- Be sure to leave a contact phone number with your Mortgage Advisor if you are traveling for business or on vacation. Until all the loan approval conditions are met, you may be required to provide additional documentation or information.

We understand that buying a home is a huge investment! The paper work, hoops to jump through and getting everything you need in order can be a lot to handle. Using these seven tips will help cut down on the stress and will help streamline the process. If you are looking to buy a home on the San Mateo Coast, we can help! We’ve had years of experience and would love to help you find the home of your dreams! There are many great homes in the San Mateo Coastal Area from which to choose. Contact us and we’ll be happy to answer your questions and give you a tour of the homes in the area!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Walking Tours are often conducted in the cities along the coast and allow people to walk through the city while hearing about the history and all that’s currently going on in the area!  Not only do you get to enjoy being outdoors, but you’ll get a better sense of each coastal city.  There are a few taking place this weekend that we encourage you to check out!

San Mateo Walking Tour
Saturday, August 14 at 2pm
Call 650-299-0104 for more information

Tour historic downtown San Mateo with expert Dr. Al Acena.  You’ll learn about the rich history and character behind this charming city while walking through the quaint streets of downtown.

El Granada Walking Tour
Sunday, August 15 at 2pm
Tour begins at the old Ocean Shore Railroad Station
10151 Cabrillo Highway
Call 650-726-4416

The tour will begin with a short introduction of the landscape architect Daniel Burnham.  His Burnham Plan Map will start the tour.  “Reaches the Beaches” was the advertising slogan of the old Ocean Shore Railroad and includes some of the arc shaped streets of El Granada.  This walk will pass a some of the older craftsman style homes, the former Granada Hotel, the tree-lined boulevards and beautiful views of the ocean- you won’t want to miss it!

If, however, you know all about these great cities and are looking for something else to do, we have a few other options up our sleeves!  We know it’s a little foggy and cooler along the coast, so taking a trip to a nearby farm or getting in on a few local classes that are offered may be just the thing you’re looking for!  Here are a few of our favorite options:

Harley Farms
205 North Street, Pescadero
harleyfarms.com

This local goat and dairy farm is great for kids and adults alike!  Tour the farm and meet the Harley goats that are responsible to the cheeses and products sold in the farms’ shop! Visitors take a two-hour, hands-on tour, following the milk from goat to dairy, from curd to cheese. Bring farm-ready footwear and an appetite for cheese!  Check out their website for more information- spots for the tours fill up quickly!

Half Moon Bay Recreational Department
Ted Adcock Community Center
535 Kelly Avenue, Half Moon Bay
hmbcity.com

The Half Moon Bay Recreation Department is just finishing up its summer session of classes at the end of this month, but there is still a chance to get in on some of the fun!  From sailing to photography and from painting to soccer, there are a wide variety of classes offered that are sure to fit your interests!  The fall class lineup should be coming out soon, but if you’re looking for something to do now, check out the online guide!  There are so many to choose from, we can’t list them all out here, but wanted to let you know that Half Moon Bay has so much to offer for residents and even visitors!

Open Ocean Surfing
openoceansurfing.com
For More Information about camps call David Alexander at Open Ocean: (650) 867-0315

Week long surfing camps are held throughout the summer on Half Moon Bay’s beaches and there are still a few weeks left in August to join in on riding the waves!  Each camp runs Monday-Friday from 10am to 2pm and is open to all ages! The camps will give you plenty of time to learn the basics, while emphasizing the importance of Ocean Safety and Surfing Etiquette in a safe,  fun and friendly environment!  Surf Boards and boogie boards are supplied, while wetsuits are available to rent at local surf shops. Each camp session concludes on Friday afternoons with a Barbecue Lunch for all campers!!

We hope you take advantage of these “green” ways to enjoy the sites and sounds, along with the history of the San Mateo Coastal cities on the walking tours!  Or that you’re able to enjoy the other opportunities to visit local farms or even take a few classes or surfing lessons in Half Moon Bay!  If you are hoping to find a home in any of these great areas; please let us know!  We love helping buyers find the home of their dreams that matches their style and needs.  If we can help you in any way- please let us know!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Devil’s Slide crews dig for home

Walk through $342 million project with tunnel veteran

By Lily Bixler

With an over-exaggerated rounding of his headlamp, a tunnel worker deep inside the belly of the Devil’s Slide excavation signals right of way to an approaching big rig. Once the worker stops the circular motion, the sticker on his helmet comes into focus: “I love explosives.”

Around 35 tunnels into his career, Caltrans safety consultant Tom LeRoux has a resume “10 pages thick” and says, at this point, his olfactory senses can distinguish tunnels. Some smell like sewage because of the hydrogen sulfate; others take on the odor of dynamite. And the 4,200-foot twin tunnels that evade Devil’s Slide by burrowing through Montara Mountain?

According to LeRoux, this tunnel project “smells like money.”

In total, the northbound and southbound individual bores, a set of bridges and an operations center cost $342 million, which is pretty average when compared to similar tunnels like the $420 million Caldecott fourth bore being built to connect Oakland and Contra Costa County. But this one is unique because it’s the first such tunnel in California since 1964.

Storms in 2005 and 2006 washed out Devil’s Slide on Highway 1, and months of road closure took a toll on tourism on the Coastside. The storms also took the wind out of many commuters who were forced to take a circuitous route to points beyond the coast.

A tunnel project to bypass that dangerous slice of the coast broke ground in November 2007 and is now more than 90 percent of the way finished. In late October workers expect their carbide steel head drill to break through to the northern end. The tunnel should be open for drivers by late 2011 or early 2012. Tunnel engineers expect the tunnel will have a 75-year design life before needing major repairs.    Read more….

If you have any questions about this project or about the San Mateo Coastal area Real Estate market; let us know!

Kathy & Michael Rain
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San Mateo Coastal Real Estate
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About 100 yards from the top of the Saddle we found a path off to the left.  We decided to take it.  Another adventure that took us down a newly cut dirt path that went rapidly downhill.  Thank goodness we had our trekking poles and didn’t have to slide down the dozen step embankments on our butts.  Just when we wondered where we would come out and how far away this would be from the trailhead, we noticed familiar vegetation.  We found ourselves walking parallel to the trail and came out just before the one and only bench.  We had noticed a little path on our way up and this turned out to be it.  Hooray!  We were less than 10 minutes from our car.  A wonderful adventure and shortcut that we will take again.  However, with the very steep downhill switchbacks, we won’t be trying this in the opposite direction on our way up.

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Experience the serenity and privacy of this home nestled in between beautifully landscaped gardens. This nearly 2,000 square foot, four bedroom, two bathroom rancher is located on a corner lot in the coastal sunbelt and seems to have it all!

Entering the home, you will notice the spacious and open floor plan which lends to the overall appeal. The great room boasts cathedral ceilings, celestory windows, hardwood maple flooring and skylights that allow natural lighting to come streaming throughout. Great for entertaining, this open concept allows for guests to relax in the living area or share conversations from the breakfast bar area as meals are prepared.

Highlighted by an abundance of maple cabinets, unique tile backsplash, stainless steel appliances and a gas stove, the kitchen is truly a chef’s paradise. The large center island is a great focal point in this space with its beautiful arched granite. Meals are conveniently served in the dining area which is open to the kitchen and provides scenic views to the outdoors. The hardwood maple flooring flows into the nicely sized den which is located just off the great room. Ideal for enjoying a book or working from home, this room has vaulted ceilings and a comfortable atmosphere.

After a long day, relax in the master bedroom suite which boasts gorgeous, decorative crown molding, cathedral ceiling, calming neutral decor and glass sliding doors that grant access to the patio. The spa-inspired master bathroom is truly a retreat with an oversized soaking tub and dual sinks surrounded by granite countertops. This home has three additional bedrooms ensuring there is enough room for everyone! A laundry room with oak cabinetry and built in shelving is an added bonus!

Outside you will find the opportunity to entertain guests a breeze with the large stone patio and plenty of room for all. Seemingly hidden from the world, this outdoor living space features native plants which are drought tolerant making maintenance a small task. This home is also ideally located one block from Quarry Park which has trails and a playground, as well as being close to the beach and coastal trail. This home truly does have it all- come see it today!

Asking Price: $739,000
MLS: 81025524
Sq. Feet: 1,980
Lot Size: 6,480 Sq. Ft.
Bedrooms: 4
Bathrooms: 2
# of Floors: 1
Garage Size: 2 Car Attached
Year Built: 2001

Kathy & Michael Rain
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San Mateo Coastal Real Estate
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Trying to read the tea leaves in this economic recovery is not easy. We’ve come a long way from the depths of the recession early last year, but after a sharp bounce-back over the past year, the housing sector and other segments of the economy seem to now be lurching forward in fits and starts. One day we’re encouraged by economic and housing reports, and the next day scratching our heads over disappointing numbers.

A few examples this past week alone:

•         Existing-home sales nationwide fell 5.1 percent in June, but remained nearly 10 percent higher than they were last June, according to the National Association of Realtors. Lawrence Yun, NAR chief economist, said the market shows “uncharacteristic yet understandable swings” as buyers responded to the end of the federal tax credit.
•         Closer to home, sales of new and resold homes and condos in the Bay Area inched up 1.3 percent in June from May but fell short of a year ago – down 3.1 percent, according to MDA DataQuick, the La Jolla-based real estate research firm. The median sale price was still 16.5 percent higher than last year, thanks largely to fewer foreclosures re-selling and more high-end activity.
•         The mid- and upper-end of the local housing market finally appears to be gaining some momentum. Million-dollar home sales in Silicon Valley, San Francisco and even Lake Tahoe last month surged to their highest level in about two years, according to Coldwell Banker Residential Brokerage’s monthly luxury housing report.

So what to make of all this? First of all, such roller coaster recoveries are not unexpected. Historically, we’ve seen sharp rebounds initially after a recession ends and then slower growth a year or two into the recovery. We’d love to have a strong v-shaped recovery, but that often doesn’t happen.

Additionally, the softening of the housing market nationwide and in the Bay Area was not surprising with the expiration of the federal tax credit.  Economists believed that many buyers and sellers pushed their transactions through quickly to meet the deadline, perhaps taking away sales that would have otherwise occurred during subsequent months.

John Walsh, MDA DataQuick’s president, said, “The next few months should be very interesting: We’re about to see how well the housing market can fly on its own. The tax credits no doubt stole some demand from the rest of this year, and soon we’ll have a better sense of just how much.”

Here in the Bay Area, we’ve seen slow but steady improvement from last year’s recessionary depths. While it will undoubtedly take the housing market some time to return to normalcy, it appears we’re continuing to move in the right direction. The question now is whether that growth will continue, and how fast.

The headwinds created by high unemployment and muted economic growth will remain challenging for the housing market. But the market is also being pushed along by strong tailwinds – attractive housing prices, historically low mortgage rates, recovering financial markets and improving stock portfolios of buyers. Only time will tell how it all plays out.

Rick Turley
President, San Francisco Bay Area
Coldwell Banker Residential Brokerage
tel 415.437.4505
rturley@cbnorcal.com

Your Questions Answered

We were recently asked from a homeowner how to get out from under their current home without having cash to buy a better place. Of course, a buyer would need 5% or more in cash to put down, but we thought this snippet from the Wall Street Journal answered the question well.

Doubling Down on Housing by M.P. McQUeen-  Some intrepid homeowners are intentionally taking a loss on their current house—and writing a big check to retire their old mortgage—in order to buy twice the home for not much more money. Others, eschewing conventional personal-finance advice, are even opting for “cash-in” refinancings, paying thousands of dollars out of pocket to settle old loans—and then taking out new mortgages with lower payments, shorter durations or both.

Katie Everett, a real-estate broker in Denver, says none of her clients kicked in cash when selling their homes last year. This year, “about half are willing to bring money to closing, anywhere from $5,000 to $45,000,” she says.

Are these people crazy to be tying up even more of their cash in their homes, in effect doubling down on what has been a losing bet thus far? After all, any number of variables, from the employment picture to the credit markets, could weigh on housing for years to come.

Yet economists say trading up to new homes or refinancing existing ones can be smart—even if it means plunking down more cash to get out of old mortgages. People living in less-desirable neighborhoods might be able to find better homes in tonier ones that offer better appreciation potential. And with mortgage rates so low, such buyers can keep their monthly payments manageable, even though the new homes are more expensive.  View the full Wall Street Journal article.

To sum up, it seems this market is trying to stabilize although it seems new processes and ideas for staying afloat are being brought to the surface weekly.  If you have questions about the San Mateo Coastal Real Estate market; we’d love to help!  Navigating the market right now can seem overwhelming, but our goal is to help you each step of the way!  Let us know how we can help you or if you’re interested in buying a home in the San Mateo area! 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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Oftentimes homebuyers don’t place as much emphasis on the neighborhood that a home is in, and this is something of which to be very cautious.  You may know the basic things to look for when trying to choose a safe neighborhood, but there are a few less obvious things that you want to be on the lookout for when choosing your new home.

Multiple-Use Areas-  Sure, it’s great to have a park close by, but is the park secluded or surrounded by a lot of trees?  Would you feel okay with sending your kids to the park if it’s not visible by others?  Look for places that have multiple-use areas such as a park next to the post office or coffee shop.  Below are a list of great park districts in the San Mateo Coastal area!

With parks, beaches and trails to explore; these area parks have much to offer!  Visit the links below to get more information on the parks in your area!

- Pacifica Parks

- Half Moon Bay Parks

- El Granada Parks

- San Mateo Parks

Well Maintained Land and Buildings- Homeowners or business owners that take pride in keeping up buildings and area land are sending out a non-verbal that the area is cared for and is being watched.  Crime is far less prevalent in well maintained areas.

Unobstructed Lines of Sight- Make sure homes in the area are not hidden by tall shrubs and multiple trees.  Places people play or walk should be visible- it’s a way of having an unofficial neighborhood watch in place.

Neighborhood Nightlights- Do the neighbors keep porch lights or driveway lights on at night?  This is a great way to detour nighttime theft and break-ins.

Active Streets- When perusing the neighborhood, do you notice people out and about?  If you see that others feel safe with walking around the area by themselves or even allowing their children to play outside, it’s a good indicator that it’s a safe and trustworthy neighborhood.  ( Need some ideas for activities for your kids?  Check out these creative ideas near Montara!)

Real House Fronts- It may seem obvious that all homes have house fronts, but not really.  There are those homes that are mostly garage or driveway space in the front.  If most of the homes in the neighborhood are like this, it means that most of the activity takes place in backyards and the street goes unwatched.

It’s reassuring to know that there are many great neighborhoods in the San Mateo Coastal area! Here area some quick links to an overview of our favorite neighborhoods!

- El Granada

- Pacifica

- Montara

- Half Moon Bay

- Moss Beach

If you have further questions about the area neighborhoods or want to find one of the homes along the San Mateo Coast that best suits you- let us know!  We’d love to answer your questions and show you around!  Hope to hear from you soon!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Pacifica Performances
1220 Linda Mar Boulevard, Pacifica
www.pacificaperformances.org

This great music venue offers concerts throughout the year from a variety of artists.  Not only is great musical talent highlighted, but the art exhibit offers stimulating visual art to enjoy as well.

Sanchez Art  Center
1220-B Linda Mar, Pacifica
www.sanchezartcenter.org

Full of a wide variety of visual art, the Sanchez Art Center offers art exhibits, classes and events.  Classes are open to the community to try their hand at ceramics, painting and much more.

This Sunday, July 18 Curator  Susan Hillhouse, Museum of Art & History in Santa Cruz will be presenting a seminar.  Come learn more about seeing art in all its forms!  July 30 kicks off the 50/50 exhibit which will run through August 29.  This favorite show features over 69 artists and fills all three galleries- you won’t want to miss this exciting exhibit!

Whether you are an art enthusiast or not, you’re sure to find this up and coming scene in Pacifica irresistible!  There are many other places to discover and events to enjoy in the Coastal town of Pacifica.  If you would like more information on this city, whether as a visitor or hopeful resident; let us know!   Our goal is help connect you to the San Mateo Coastal area!

Kathy & Michael Rain
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Have you ever dreamed of living in a home with ocean views located in a quaint beach town? This dream home is now available and in move-in condition! Imagine waking up to the sounds of waves crashing or watching the sunset over the ocean while sitting peacefully in your home. Only thirty miles from San Francisco in the quiet town of Montara, this three bedroom, two bathroom home is far enough away to enjoy solitude but close enough to take advantage of all that the community has to offer!

Lovingly maintained and beautifully remodeled throughout, this open floor plan home is only a short distance to the beach and boasts unique features. Entering the foyer, you will notice the oak hardwood flooring and crown molding that shows the great attention to detail. These features continue into the living room where you will find the large picture window affords scenic views while the stunning brick fireplace adds a touch of warmth. The gourmet kitchen will be a favorite place to gather and enjoy the art of cooking while taking in ocean views. Travertine flooring, granite countertops and maple cabinetry are accented by top of the line stainless steel appliances. Viking dual ovens and cooktop range, a sub-zero refrigerator, wine refrigerator and stunning Franke kitchen deep sink are among the many features that make this an ideal chef’s kitchen. Host dinner parties in the dining area which conveniently opens to the kitchen and boasts a chandelier.

Stunning master bedroom suite acts as a private getaway with its own gas fireplace, an art niche situated in the corner of the room and a large walk-in closet. French doors lead out onto the back deck and manicured yard. The spa-inspired master bathroom comes complete with marble flooring, gorgeous soaking tub and granite vanity. Two additional rooms offer plenty of space for a large family or weekend guests and boast closet organizers. The guest bathroom mimics the master bathrooms’ marble flooring and granite vanity.

This homes’ unique features are endless and are what make this such a desirable place to live. Coming home will be like a vacation with the serene setting and access to many outdoor activities such as hiking, kayaking, sailing and surfing as well as close proximity to the Fitzgerald Marine Reserve. Truly a masterpiece, this home is a must-see!

Asking Price: $915,000
MLS: 81005605
Sq. Feet: 2,000
Lot Size: 5,000 Sq. Ft.
Bedrooms: 3
Bathrooms: 2.5
# of Floors: 2
Garage Size: 2 Car Attached
Year Built: 1976

Kathy & Michael Rain
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San Mateo Coastal Real Estate
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Half Moon Bay is just one of the distinctive cities along the San Mateo Coast.  Whether you’re a resident of the area, or just looking for a place to visit; check out Half Moon Bay!  If relocating is in your future and you’d like more information on Half Moon Bay or the other coastal cities, please let us know.  We enjoy helping people find the home of their dreams and with years of experience in the San Mateo Coastal area market; we can help you find the right home to fit your needs.  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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Foster City, Fourth of July Celebration
TIME: 8:00am – 9:45pm
LOCATION: Leo J. Ryan Park, Foster City
The day will include a pancake breakfast, a family parade, dog show and many other events!  Fireworks will begin at 9:30pm!  For more information, visit the Foster City website.

Redwood City Parade, Festival & Fireworks
TIME: 9:00am – 5:00pm
LOCATION: Redwood City, CA (Parade starts at Corner of Brewster & Winslow)
The Redwood City festival kicks off at 9am with the 33rd Annual Fun Run followed by a day of activities including a car show, battle of the bands, arts and crafts and more!  The fireworks begin at 9:30pm. Visit the Parade.org website for more details.

Half Moon Bay, Ol’ Fashion 4th of July Parade
Time: 12:00pm
Location:  Main Street, Half Moon Bay, CA
This yearly event is the highlight of the summer season!  It’s old fashion charm is sure to bring joy to young and old alike.  Don’t miss this special event!

The San Mateo area offers events throughout the year as well as a lifestyle of based on community, health and well-being.  If you’re searching for a home in the San Mateo Coastal area- please let us know!  We’d be happy to help you in your search!
Have a safe and happy 4th!

Kathy & Michael Rain
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But despite the gloomy atmosphere, workers are making major progress on the $325 million tunnel project, which includes a pair of arched bridges and an operations center. The buildings and the bridges are finished, and the tunnel diggers are expected to bust through the north end of the mountain by this fall. A little more than a year later, the finished tunnel should open to traffic.

No one will be happier than residents of the coastal communities who depend on that scenic but unstable stretch of Highway 1.

The Devil’s Slide tunnel will be California’s first highway tunnel built since 1964, when the third bore of the East Bay’s Caldecott Tunnel opened. Tunneling is dirty and dangerous work, and progress is slow. Workers wear not only the usual hardhats, reflective vests and other construction safety gear, they also carry flashlights or headlamps, respirators and emergency “self rescue kits” that provide oxygen in the event of an accident like a gas leak, collapse, fire or power failure.

We posted some pictures we took from when the project began, and more recently, on June 12, 2010. See more photos on our Devil’s Slide Tunnel Page.

Project start:

June 12, 2010:

This yearly event is hosted by the Downtown San Mateo Association, a non-profit organization that helps showcase all that this vibrant city has to offer.   This night is filled with various musical groups, VIP tastings and a showcase of participating businesses who open their doors for tasting rooms.  Additional information including tickets, things to know and musical guests can be found the Downtown San Mateo’s Wine Walk website.

On another note, the City of San Mateo kicked off The 2010 Central Park Music Series this past Thursday and will continue this great outdoor event every Thursday from 6-8pm until August 5th.

This annual concert series is a favorite amongst the San Mateo community and even to those from neighboring towns!  Families enjoy the opportunity to spend time together at this free event and children love to move to the music.  With local restaurants such as Central Park Bistro, Pizza My Heart and Rubio’s Mexican Grill (to name a few favorites); you’re sure to find a place to enjoy dinner with friends before heading to the concert.   Enjoying local and national bands is a great way to get involved with the community while supporting the performing arts scene in San Mateo.

Whether you choose to attend one of these events, or both, you can rest assured that you will enjoy your time in downtown San Mateo!  We enjoy helping guests and residents find the best local events and tastes that will help them soak in what life on the San Mateo Coast is all about!  For help finding your San Mateo home; please give us a call.  We’d be happy to help you discover one of the best places to live!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Privacy and serenity abound in this spacious two bedroom townhome nestled on a secluded cul-de-sac in the heart of downtown San Mateo bordering Hillsborough.  Entering the home you will notice the two-story cathedral ceiling in the living room which boasts a wall of windows that allows sunlight to come streaming through.  This room also features wall to wall carpeting, a fireplace that offers a cozy atmosphere on cooler evenings and access to the back deck.

Cooking is a breeze in the kitchen as the Viking gas oven range and abundance of counter and cabinetry space offers the true “chef’s experience”. An eat-in kitchen area is great for casual meals and allows for an audience while food is being prepared. For dinner parties, the formal dining room offers a more classic and intimate dining option.

Upstairs the master bedroom suite is sure to please with its vaulted ceilings, custom built-in shelving and private balcony. The guest bedroom on this level also offers its own balcony and plenty of living space. Added bonuses of this home are the laundry room with Corian counters and sink, and the den area which grants access to the front garden.

A favorite feature of this fabulously located townhome is the ironwood back deck with built in seating. Enjoy taking in the scents of roses and jasmine as you relax in this lovely garden setting. You’ll feel worlds away from it all, even though this quiet townhome complex is in the center of town! With close proximity to shops, transportation, the library and restaurants you’ll see why this home is truly a hidden jewel! Come see it today!

Asking Price: $995,000- New Price!
MLS: 81030315
Sq. Feet: 2,310
Lot Size: 3,005 sq ft
Bedrooms: 2
Bathrooms: 2.5
# of Floors: 2
Garage Size: 2 Car Attached
Subdivision: Baywood/Parrott Park
Year Built: 1975

Kathy & Michael Rain
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This adorable Moss Beach home features old world charm blended with modern updates! Situated on a corner lot, you are sure to love the location! As if right out of a picture book, the front of the house is encircled by a white picket fence, and features a beautiful archway entry and a paver walkway.

Step into the living room where you will be met with the inviting comfort of this alluring room. The living room features beautiful original hardwood flooring from 1949.  The remodeled kitchen offers everything for the chef in your home! Beautiful cherry wood flooring and white wood cabinetry with nickel hardware emphasize the sophistication of this room, while stainless steel appliances and granite countertops whisper “luxury”. Enjoy your meals in the dining area by the bay window with beautiful views of the neighborhood.

The master bedroom is a true oasis! Featuring a bay window, beautifully refinished hardwood flooring with graining, and French doors that lead to a deck – this is the perfect place to relax and take in the comfort of the serene atmosphere. Getting ready in the morning will be stress free in the full bathroom that features marble flooring.

Located just a few blocks to the park and Marine Reserve in Moss Beach, you are sure to feel right at home in this neighborhood and charming house!

Asking Price: $550,000
MLS: 81029869
Sq. Feet: 760
Lot Size: 5,500 sq ft
Bedrooms: 2
Bathrooms: 1
# of Floors: 1
Garage Size: None
Subdivision: Moss Beach Heights
Year Built: 1949

Kathy & Michael Rain
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While Mother’s Day was met with enthusiasm, Father’s Day was merely a joke to most. However, over time, people began to accept it with as much regard as they do for Mother’s Day. It is celebrated all over the world – and San Mateo County is no exception…

For 8 years and running, the Fatherhood Collaborative of San Mateo County has held its annual picnic for fathers and their families. Affectionately called, “Dad & Me @ the Park.”

Bring Dad along June 19th for kite building and flying, games, prizes, face painting, arts and crafts, a barbecue lunch and fatherhood awards at Coyote Point Park in San Mateo County.  The event runs from 11 am – 3 pm.

The San Mateo County Fatherhood Collaborative’s mission? “To increase the awareness of the value of fathers and other significant male caregivers and the role they play in their children’s lives.”

Another great event to attend this Father’s Day is the Moonstock Benefit at Cameron’s in Half Moon Bay. Not only is it going to be a day full of entertainment including tons of live music, art displays, and barbecue, but it also benefits the boys and girls club.

The iconic image of a child and father flying a kite in a Pacifica park, or playing ball in the backyard of a beautiful Montara Home is a lot more realistic than it may sound. If you are interested in San Mateo County Real Estate or Coastside Area Real Estate, please don’t hesitate to give us a call.

Kathy & Michael Rain
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Featured Beach of the Day: Rockaway Beach, Pacifica, CA

Located at Quarry Cove in Pacifica, Rockaway Beach is a San Mateo County gem. Swim, fish, whitewater paddle, boat, hike, golf, picnic, or enjoy the countryside.

Views of Alcatraz and the ocean can be found with an intense hike along the Juan Bautista De Anza Trail or while enjoying a leisurely meal at one of the many Pacifica restaurants. Choose between the finest dining at the most romantic dinner spot in the bay area, Ristorante Portofino, or a laid back 50s style diner with generous burgers, frothy milk shakes and friendly service.

There are sports and recreational activities galore and shops that could keep you going all day long. If you’re a fisherman, test the waters at the Sharp Park State Beach. According to locals, it is the only place to catch salmon without boarding a boat.

Pack up the kids, the dog, or just yourself. Bring along a picnic basket or choose to indulge in a seaside restaurant. Hike the trail or just lay back and watch the clouds go by. Whatever you do, enjoy yourself. Take advantage of all that Pacifica and San Mateo County has to offer. If this sounds like the life that you want to live, I would love to help you find the home of your dreams in Pacifica or any of its surrounding areas. I’m always up for showing curious people around, or just answering a question.

Kathy & Michael Rain
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Bask in the amazing ocean views of this Pacifica condominium.  It is ideally located within 10 minutes to BART Station and 15 minutes to San Francisco and SF Airport. With a living room, dining room, kitchen and your very own patio, this could serve as your own private getaway. The only sound you’ll hear are those of the ocean breezes from your window because this building was constructed with acoustical insulation to eliminate sound transference between units.

Cozy up to the wood burning fireplace in the living room, complete with a wall of mirrors to magnify the view and give space to the room. The master bedroom provides a first row seat to the beautiful greenery outside your window and a spacious walk in closet is an added bonus. Storage should be no problem with a one car garage plus extra room for storage. Paying this price for such a stunning ocean view is unheard of – don’t let this opportunity slip away!

Asking Price: $325,000
MLS: 81027866
Sq Feet: 1,000
Bedrooms: 2
Bathrooms: 1
# of Floors: 1
Garage Size: 1 Car
Subdivision: Pacific Point
Year Built: 1973

Kathy & Michael Rain
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Your weekend getaway awaits you! Bring the horses and enjoy all the great outdoors have to offer before retiring to your cozy abode. Located on more than one and a half acres, this A-frame home has been remodeled and highlights a back deck with access from the bedroom overlooking a peaceful creek.

Featuring tile flooring in the kitchen and bathroom, wood cabinetry in the kitchen, carpeting in the bedroom, and a loft with wood-like flooring above the kitchen, this retreat offers you a comfortable getaway on a spacious lot that allows horses. Please note, this home cannot be expanded, or relocated to another part of the property. A new dwelling cannot be built due to the creek, and a cash sale may be necessary as this unique property has no comparable sales that match the size of the home on this large of a lot.

Asking Price: $475,000
MLS: 81019018
Lot Size: 68,824
Bedrooms: 1
Bathroom: 1
# of Floors: 1
Year Built: 1911

Kathy & Michael Rain
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The Recreation Services Department for Half Moon Bay is first rate. It offers such a wide variety of activities for its residents of all ages. From instructional classes, to sports teams, to camps to special needs programs – they have it all. There are too many to mention here, but just to give you an idea of some of the unique programs that Half Moon Bay has to offer, below are a few options for each age group.

Toddler and Youth:
Half Moon Music – Musical Pathways
A movement oriented program where parents and children have fun together by encouraging musical experience. Your child may find their love of music here surrounded by songs, chants, dance, rhythm play and instructional jam sessions.
Ages: 0-4
Location: Community Center, 535 Kelly Avenue in HMB
When: Wednesdays, June 9th – July 14th at 10:45 am or 11:45 am

Youth Sports:
“Hoop Dreams” Basketball Camp
This popular camp focuses on the fundamentals of the game, including defense, passing, dribbling, rebounding, shooting and team play. All of this, while still focusing on the importance of practice, teamwork and cooperation.
Ages: 5-15
Location: Sea Crest School, 901 Arnold Way in HMB
When: Monday – Friday, June 21- June 25th 11:30 am – 1:30 pm or 1:30 pm – 3:30 pm

Youth and Teen Dance:
Preschool dance, petite acting, ballet, company choreography – there are so many different options for turning your child into a performer in Half Moon Bay.
When: July 19 – August 12

Teens and Adults:
Meditation in Movement
Learn how to ground yourself in the present moment, quiet the mind, open the joints slowly through motion movements and relieve stress like you never have before. Also available is morning yoga, evening yoga, and Kundalini Yoga.
Ages: 16 and up
When: Tuesdays, June 1-22 7:30 pm – 9:00 pm; Tuesdays, August 3-24 7:30 pm- 9:00 pm

The classes and activites we listed here are just the tip of the iceberg. For the full schedule and contact information, click here for the Half Moon Bay Activity Guide.

If you are just moving to the San Mateo Coastside Area, you will soon realize that the opportunities to learn new things and get involved are endless. If you are looking for San Mateo Coastal Real Estate or maybe just have a few questions about the Half Moon Bay Community, we would be more than happy to help.

Kathy & Michael Rain
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Experience the serenity and privacy of this home nestled in between beautifully landscaped gardens.  This nearly 2,000 square foot, four bedroom, two bathroom rancher is located on a corner lot in the coastal sunbelt and seems to have it all!

Entering the home, you will notice the spacious and open floor plan which lends to the overall appeal.  The great room boasts cathedral ceilings, celestory windows, hardwood maple flooring and skylights that allow natural lighting to come streaming throughout. Great for entertaining, this open concept allows for guests to relax in the living area or share conversations from the breakfast bar area as meals are prepared.

Highlighted by an abundance of maple cabinets, unique tile backsplash, stainless steel appliances and a gas stove, the kitchen is truly a chef’s paradise.  The large center island is a great focal point in this space with its beautiful arched granite.  Meals are conveniently served in the dining area which is open to the kitchen and provides scenic views to the outdoors. The hardwood maple flooring flows into the nicely sized den which is located just off the great room.  Ideal for enjoying a book or working from home, this room has vaulted ceilings and a comfortable atmosphere.

After a long day, relax in the master bedroom suite which boasts gorgeous, decorative crown molding, cathedral ceiling, calming neutral decor and glass sliding doors that grant access to the patio.  The spa-inspired master bathroom is truly a retreat with an oversized soaking tub and dual sinks surrounded by granite countertops.  This home has three additional bedrooms ensuring there is enough room for everyone!  A laundry room with oak cabinetry and built in shelving is an added bonus!

Outside you will find the opportunity to entertain guests a breeze with the large stone patio and plenty of room for all.  Seemingly hidden from the world, this outdoor living space features native plants which are drought tolerant making maintenance a small task.  This home is also ideally located one block from Quarry Park which has trails and a playground, as well as being close to the beach and coastal trail.  This home truly does have it all- come see it today!

Asking Price: $739,000
MLS: 81025524
Sq. Feet: 1,980
Lot Size: 6,480 Sq. Ft.
Bedrooms: 4
Bathrooms: 2
# of Floors:  1
Garage Size: 2 Car Attached
Year Built:  2001

Kathy & Michael Rain
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One of these cities is the charming community of Half Moon Bay.  Its small coastal town atmosphere offers tranquility, yet at the same time, an abundance of things to do.  Here are a few of our favorite options.

Wine Tasting- One of the richest parts of Northern California’s heritage is, of course, the wine.  Enjoying these wonderful flavors paired with the most decadent cheeses is a must for any visit to Half Moon Bay.  La Nebbia Winery is one of our local offerings nestled amidst sprawling gardens and is ideal for wine tastings, events or dinner parties.  If you don’t have an entire day to spend sipping wines, check out the popular stop Half Moon Bay Wine & Cheese.  This store sells the finest in wine and cheese and hosts events throughout the week.

Horseback Riding- Take in the stunning views along the coast or in the rich forests of Half Moon Bay on horseback!  Open all year round, seven days a week is the Sea Horse Ranch & Friendly Acres Horses & Rentals which takes you along seven miles of breathtaking scenery.

Bird Watching- You may not think bird watching is your type of activity, but the San Mateo Coast is home to many unique birds that won’t see anywhere else.  The Pescadero Marsh bird refuge is a unique place where you can view over 200 species of birds.

Farm Visits- If organic food is a passion of yours, you’ll enjoy the various options of stopping by our local farms that sell the freshest vegetables, fruits and herbs.  Make a day of it by opting to pick your own fruit at Phipps Country Store and Farm.  There are an abundance of options along the coast to visit our local growers who provide a rich blend of community and outstanding food.

As you can see, there are a number of reasons to visit Half Moon Bay!  Better yet, if you’ve always dreamed of living in such a unique town; let us know!  We’re happy to answer any questions you may have about the San Mateo Real Estate market!

Kathy & Michael Rain
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Some of the good news…

The Median Sales Price in April was $670,000, up 30.7% from $512,500 in April of 2009 and down -10.7% from $750,000 last month. The Average Sales Price in April was $683,262, up 25.3% from $545,500 in April of 2009 and down -14.2% from $796,667 last month. April 2010 ASP was at a mid range compared to April of 2009 and 2008. Click the links below for the full reports.

Some sample graphs:

Click your preferred area to download the full PDF:

• Pacifica, CA
• El Granada, Half Moon Bay, Montara & Moss Beach

2. Know Where to Look- Internet sites such as Trulia, Zillow and Realtor.com are nationally recognized as the top real estate sites.  These options include an abundance of homes as well as tools for financing, tips, area information and much more!

3. The More the Merrier- Don’t limit your search to a single site.  Check out many sites at once to get a larger picture of the housing market in the San Mateo area.  Think of each online tool as a piece to the puzzle in putting together a list of your tops homes!

4. Stay in the Know- Many internet tools offer rss feeds or email campaigns that you can have delivered right to your inbox!  These are a great way to stay on top of all that’s going on in the market- and all you have to do is sit back and allow the information to come to you!

5. Read Any Good Blogs Lately?- Real Estate blogs are a great way to keep a finger on the pulse of the latest news.  Of course, not all blogs are created equal (and we happen to think ours is pretty great!), but find local blogs to the area in which you  desire to find your home.  Oftentimes they’ll provide you with community information, new listings in the area and much more!

If you have any questions about your internet home-buying search; let us know!  We provide the latest services in technology to help both our buyers and sellers.  Check out other articles in this blog, or find out more information about the San Mateo Coast on our website!  We look forward to helping you in your online search!

Kathy & Michael Rain
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See more property views here: www.151sheltercove.info

Enter into the warm and cozy living room with a red brick wood burning fireplace flanked by built-in bookcases. Step into the gourmet kitchen with granite counters, tumbled stone backsplash with granite accents, extra deep/wide quartz composite sink, instant hot water dispenser, new dishwasher, maple cabinets, breakfast counter, solar tube skylight, recessed lights, dining area with Infinite speakers, and maple laminate flooring with access to the level, fenced backyard.

Off the kitchen dining area are sliding doors to your deck and backyard. Currently the backyard has grown organic edibles in raised beds, barrels and pots. The front yard has organically grown blueberry bushes, Meyer lemon, and barrels with organic edibles. The rest of both yards are low maintenance with salt & pepper pebbles and small river rock. The backyard is a perfect setting for a fire-pit sitting area, children’s play set, trampoline, hot tub with gazebo, or ?. Around the corner of the deck is a spacious sauna, outdoor shower and a storage shed for bikes, surf boards and lawn supplies.

There are several options for using this versatile floor plan. There are two Master Bedroom options determined by which floor of the house you prefer and size of the room. Both Master Bedrooms have remodeled, very nice bathrooms. The upstairs bedroom is approximately 20 x 19 with a cathedral ceiling. The closet has a 12 ft interior height for extra storage and a wall of mirrored doors. The front facing wall has a built-in desk and bookshelves surrounding a picture window. This has been a great place to home school and is now part of a Master Bedroom retreat where activities and sewing projects take place. This room is so spacious it also has an additional office nook. This upstairs room will allow you to choose whether you use it a Master Bedroom, Family Room, Guest Suite, Office, Music, Hobby room or ? The remodeled upstairs bathroom has radiant heated floor, Hans Grohe fixtures with a luxurious shower system that includes an adjustable-height shower head and body sprays. The main floor Master Bedroom has a pocket door to access the remodeled bathroom.

The house is in excellent condition, newly painted, and has been loving cared for. See the entire list of quality upgrades. The Clipper Ridge Subdivision borders open space and was repaved 4 years ago as well as upgrading the play structures. The association fee is just $88/year. The neighborhood park is a perfect place for pets and kids. The owners have loved living in this home and in the neighborhood. They can see mountains looking out the living room window and reminisce on the great hikes they have taken there. Just a short distance is the Harbor area with shops, restaurants, ocean activities and the start of the Coastal Trail.

Asking Price: $569,900
MLS: 80953771
Sq. Feet: 1440
Lot Size: 5115
Bedrooms: 3
Bathrooms: 2
# of Floors: 2
Garage Size: 2
Subdivision: Clipper Ridge
Year Built: 1969

Kathy & Michael Rain
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Below is a list of San Mateo’s Farmer’s Markets, and with their various schedules; you could buy fresh each day of the week!

25th Avenue Farmers’ Market in San Mateo
Tuesday- 4:00 PM to 8:00 PM
May 11, 2010 to October 19, 2010

Belmont Farmers’ Market
Sunday- 9:00 AM to 1:00 PM
Year-round

Kaiser Permanente Redwood City Farmers’ Market
Wednesday- 10:00 AM to 2:00 PM
April 21, 2010 to September 29, 2010

Kaiser South San Francisco Farmers’ Market
Tuesday- 10:00 AM to 2:00 PM
May 4, 2010 to September 28, 2010

San Bruno Farmers’ Market
Sunday- 9:00 AM to 1:00 PM
May 2, 2010 to October 31, 2010

San Carlos Farmers’ Market
Thursday- 4:00 PM to 8:00 PM
May 6, 2010 to September 9, 2010

San Mateo Farmers’ Market
Wednesday- & Saturday- 9:00 AM to 1:00 PM
Year-round

South San Francisco Farmers’ Market
Saturday- 9:00 AM to 1:00 PM
May 8, 2010 to October 30, 2010

Be sure to check out each market for any events they may have! Many offer classes on organic food or cooking as well as special guests for live music. This is just one more reason to make the San Mateo Coastal area your permanent home! If you are already enjoying the lifestyle that San Mateo has to offer, but are hoping to find your dream home- please let us know. We enjoy helping people find the home that best suites their needs and style. Contact us today- we look forward to hearing from you!

Kathy & Michael Rain
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The health of the housing market has long been tied to other key economic indicators – everything from consumer confidence to the stock market to unemployment rates and hiring trends. For instance, the direction of the Dow is rarely in opposition to Bay Area real estate activity.   Local economists and Realtors alike have often noted that the valuation trend lines of the NASDAQ and Silicon Valley home prices typically have a significant correlation.  The chart below shows the strong link between Consumer Confidence and Home Sales in the US.

Last week, the Conference Board announced that its consumer confidence index rose in April to the highest level in more than a year and a half. The rise in the index was considerably higher than economists had expected. Although the University of Michigan’s consumer sentiment index took a small step back in April, it’s still hovering at levels not seen since early 2008.

Similarly, the financial markets continue to march higher as growing evidence appears that the nation’s economy is gradually finding its footing. The Dow Jones Industrial Average is up 7 percent year to date and a whopping 70 percent since its March 9, 2009 low.

One last headline of interest: The Federal Reserve last week upgraded its economic outlook amid a better-than-expected recovery, saying the beleaguered labor market is beginning to improve. But the Fed voted to keep interest rates at historically low levels and signaled that wouldn’t change anytime soon.

Low mortgage rates, coupled with the April 30 deadline for the homebuyer tax credit, have helped to fuel strong home sales in many of our markets. In my travels last week to a number of our offices, I’ve heard from agents that many of their buyers have been rushing to beat the tax credit deadline.

All of this is encouraging, but it’s not to say that we’re completely out of the woods. The jobless rate is still extremely high in California and across the country. A new wave of foreclosures could hit the housing market in the months ahead. And the economic recovery is fragile and expected to be slow. But one has to be at least cautiously optimistic by these economic trends, which are so vital for the health and well-being of our housing market.  One of the most important trends to follow is our Bay Area Month’s Supply of Inventory.  It continues to drop at all price points, from less than 2 months at the entry level, to between 10 and 18 months in some of our Luxury markets.  ( ex: San Francisco over $5 million:  19 months supply March ’09,  dropped nearly in half to 10 months supply March ’10)

Below is a market-by-market report from our local offices:

SF Peninsula— Burlingame continues to see great listings get snapped up in multiple offers and well qualified buyers are waiting for the right inventory to come on the market. There are 75 active listings and 17 pending sales in Hillsborough.  There is great value in a great area and some excellent buys available right now. In Half Moon Bay, more offers are being accepted with ‘sale of property’ contingencies.  There’s good traffic at the open houses with serious buyers wanting to get into the market.  We’re also seeing more activity on the higher end $1m + range. Our Menlo Park offices report agents have been really busy the last couple of weeks.  Parents soccer field talk is that bonuses are coming back and 401ks are being reinstated.  General feeling of stability is giving ‘lookers’ a basis to buy. There was a bit of the April 15th hangover last week, previous weeks had several offers written as the market heated up.  Well priced listings are selling quickly.  Two outstanding properties in San Carlos had multiple offers and sold for more than the asking prices of $1.85 million and $1.95 million. Open houses are very well attended. The San Mateo office reports that pending sales for the six nearby cities are up 33% from 2009 and closed sales are up about 50%.  Quality inventory (shows well and priced right) is not as available causing the multiple offers. Similarly, the Woodside office says is has been as busy as they’ve seen it in since spring of 2007 and 2008.  Buyers are far more cautious however.  Many will make an offer and walk away if they do not have their terms met or discover any type of problem.

Will we see a little less urgency on the part of some buyers now that the Federal tax credit purchase deadline hit on Friday?  Or will the new California tax credits pick up the slack?  Stay tuned, we may have some indication in another few weeks.

- By Rick Turley

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We are passionate about the Coastal Real Estate market and would love to help you in your home sale or home search!  Give us a call today to discuss your home sale or to view some great properties on the market!  We look forward to hearing from you!

Kathy & Michael Rain
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According to the National Association of Realtors, a recent report gave a resounding “No” to this question.  Since the tax credit had already been expanded and extended twice since it’s conception two years ago; it is very doubtful that this will be extended again.  A spokesman for the National Association of Realtors (NAR) notes that, “It’s time for the housing market to stand on its own two feet.”  It may be that we are seeing an increase in the housing market activity that we no longer need the push from the government.

However, California has offered a tax credit of $10,000 (see our previous post from Mortgage Advisor Andy Block) and is willing to walk with its’ residents a few more steps of the way.

If you have any questions on the California Tax Credit, please let us know!  We have been in the San Mateo Real Estate market for a while and are up to date on all the latest happenings.  It can be tricky to navigate through and we are committed to helping buyers or sellers every step of the way!   We look forward to hearing from you soon!

Kathy & Michael Rain
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Beginning today, you can head to the library to learn about Composting or view Disney’s Documentary Film:  Earth.  Tomorrow and Thursday, you will find information on “green” food, solar energy, smart cars and sustainable energy- to name a few!  This is a great way for anyone from adults to children to learn how to make not only San Mateo, but our whole earth a better place to live!

The San Mateo Coast is very in tune with how we are to care for our surroundings and finds that “green” living is a part of our culture.  With natural beauty from every angle, it’s no wonder why San Mateo is a desirable place to call home!  Throughout the year, our coastline communities provide a variety of ways to stay in touch with the environment while building “green” into our daily lifestyles. Why not visit the stunning coastline of San Mateo?  You may be temped to stay, and if you are, we can help you in your San Mateo home search!  We look forward to showing you around!

For more information on the San Mateo Public Library’s Earth Day events, click here.

We hope you enjoy our earth on this special day!

Kathy & Michael Rain
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This legislation allocates $200 million to fund tax credits for qualified home purchases; $100 million is for buyers of new, unoccupied homes and the other $100 million is for first time buyers of existing homes.

The tax credits will be available to home buyers on a first-come, first-served basis. This is an incentive for your buyers to act now (as a reminder, the $100 million allocated for last year’s new home buyer program was depleted in just four months).

A notable feature of this year’s legislation is that buyers of newly constructed homes may choose to reserve a tax credit prior to the close of escrow. This will become important as California nears the $100 million cap for homes that may not close escrow before the cap is reached. Buyers that are applying for the First-Time Buyer Credit (purchasing existing homes) will not be able to reserve the tax credit before escrow closes. Details about how to reserve the tax credit can be found here.

Below are some highlights of the new tax credit program:

·         Buyers of existing homes must close escrow between May 1, 2010 and December 31, 2010.

·         Buyers of new homes can reserve their credit by entering into an enforceable contract between May 1, 2010 and December 31, 2010. They must file the proper paperwork with the tax board and close escrow by August 1, 2011.

·         First-time home buyers are eligible whether they buy a newly built or an existing home.

·         Current homeowners looking to trade up must buy a newly built home in order to receive the tax credit.

·         If a taxpayer qualifies for both tax credits, the law specifies that that the New Home Credit be applied (only one tax credit is allowed per taxpayer).

·         The tax credit is worth up to 5% of the purchase price of the home, or $10K, whichever is less.

·         The credit will be allocated evenly over three years. If a buyer qualifies for the full $10,000 tax credit, they’ll get up to $3,333 per year. They will need to consult with their CPA for details and eligibility as related to their specific situation.

·         The buyer cannot be a dependent and the home purchased can’t belong to a relative.

·         The buyer is required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).

And, although it’s a small window, there are some buyers that may be able to combine this new California tax credit with the $8,000 Federal Home Buyer Tax Credit for a total of $18,000 in tax credits. To do so, the purchase contract must be signed by April 30, 2010 (for Federal eligibility) and the purchase must close between May 1, 2010 (when the California program begins) and June 30, 2010 (when the Federal program ends). For the purposes of the California tax credit, the purchase date is defined as the date escrow closes.

As always, please call me to discuss specific situations or to schedule time to review your clients’ mortgage or financial strategies.

Best regards,

ANDY BLOCK
Mortgage Advisor & Financial Advisor
Email · Biography
650.931.0605
License 01096311

For more San Mateo Real Estate information or questions, feel free to contact us today!  We enjoy life on the San Mateo Coast and feel it’s our privilege to help others feel right at home here as well!  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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Here are just a select few San Mateo County favorites that might pique your interest…

Alhana Food Mediterranean Restaurant
If you are looking for authentic Mediterranean food, this is your place. From the creamy hummus to the delicious kabobs to the ever-popular Chicken Shwarma plates, it seems that everything here is the best ___ you’ve ever had. On top of it all, it is not just a restaurant, but also a grocery store offering Middle Eastern delicacies including pastries, sweets, nuts, seeds, spices, olive oils and more.

Ike’s Place
In San Mateo, even a quick sandwich on the go is like a gourmet meal. Ike’s can arguably be called the best sandwich shop on the bay – and for good reason. Known for their “dirty sauce” (an amazingly flavorful aioli that really makes any sandwich), very freshly baked bread, and over 200 sandwich options, Ike’s takes their sandwiches very seriously.

Flying Fish Grill
Half Moon Bay is proud to have bragging rights for the finest fish tacos in the Bay Area thanks to the Flying Fish Grill. Surrounded by decor reminiscent of a Hawaiian Tiki Hut, the atmosphere may be casual, but the food is anything but sub-par. The San Francisco Chronicle, Zagat Survey and numerous other publications can’t stop raving about the quality of seafood at Flying Fish.

Top of the Market
For a luxurious dining experience complete with fantastic views of the Marina Lagoon, San Mateo’s Top of the Market is it.  They offer an extensive wine list, a very intimate setting and a unique exhibition-style cooking service which allows you to observe how your seafood is prepared. If you are a seafood lover, you will fall in love with their wide ranging selection – Pacific Northwest oysters on the half shell, peppered Eastern scallops with shitake mushroom sauce, local swordfish grilled over mesquite charcoal, and more.

If you have are looking for a great place to eat or something to do in Half Moon Bay, El Granada, Moss Beach or any of the San Mateo areas, please don’t hesitate to contact us. We would love to offer a few suggestions.

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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San Mateo Coastal area

According to First American Core Logic statisticians, the next 12 months will bring about a gain of 4.5% in home prices. Last month alone, an estimated 28,111 new and resale houses and condos were sold in California, which rose 9% from January sales.  The average mortgage payment last month was $1,068.

The below chart shows the growth in Median Home Sale Prices from 2009 to 2010 San Mateo Coastal Real Estate market.

It’s exciting time in the San Mateo Coastal area as we are seeing new homes coming on the market and are seeing properties sold!  If you are looking for a home in this desirable Coastal region, we’d love to assist you in your search.  We currently have some great properties available which we would be happy to show you!  Looking to sell?  We can help you through the process from start to finish!  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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Below you’ll find a checklist of outdoor and indoor maintenance that you’ll want to check into within the next few weeks in order to get your San Mateo home up to speed for the season.

Outside

1.  Clean Up the Front Entry- View the home as if you are a visitor.  Scrub winter grime away from porch steps or door and window frames.  Repaint items as needed and look for ways to clean up the homes’ curb appeal.
2. Check for Roof Dams- Get a ladder and remove any sticks, leaves and debris from the gutters.  Check skylights or chimneys for rust or holes and make repairs as needed.
3. Check for Water Under the House- Even if it has rained recently, the underneath of the house should be dry.  If it is wet, check for leaks in the homes interior or around the exterior for seepage.  Water flow should go away from the home, so some landscaping may need to be updated.
4. Hire an Inspector- To stay on top of your home’s maintenance and be pro-active against expensive repairs, hire a home inspector to check your home thoroughly. The cost may be around $300, but is well worth it in the long run.

Inside

Get rid of household smells:
1. Clean the garbage disposal- It’s good to get in the habit of doing this monthly.  By simply making vinegar ice cubes and running them through the disposal, you can eliminate odors.
2.  Clean or Replace Garbage Cans- Check garbage receptacles for any cracks or holes. Clean with a baking soda and water mixture.  Clean the refrigerator in the same way to clean thoroughly and remove odors.
3. Eliminate Bathroom and Kitchen Odors- Moisture trapped in these rooms can cause mildew and mold.  Check rooms thoroughly specifically looking at grout for cracks and all appliances for leaks.
Water Saving Devices:
4. Toilet Tank Displacers- These help lower the use of water as many older toilets use much more water than needed.  Be sure to check specifications before buying displacers.
5. Aerators- These are designed for faucets and put air into your water to reduce the amount of water being used and are a great way to cut down on water costs.
6.  Inspect and Repair Drywall- Walk around the interior of your home and repair any holes you may find with putty.  Prime and paint over the putty as needed.

Keeping an eye out for these types of maintenance issues will contribute to your homes’ longevity!  If you’re hoping to sell your home and buy up in the San Mateo market; we’d love to help and answer any questions you may have.  We enjoy finding the right buyer for a home and helping people find the home they’ve always wanted!  Feel free to contact us anytime.

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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As I mentioned in an interview with the San Jose Mercury yesterday, after the financial market meltdown a year ago, high-end home sales dried up during the first half of 2009. Compared to those days, homes sales in higher price ranges are much more active now, pushing up median prices around the Bay. And with relatively few homes on the market in Silicon Valley and on the Peninsula, prices have stabilized and buyers are now competing for good listings.

Half of the sales reported by our Los Altos office drew multiple offers, for example.  One Sunnyvale home listed at $950,000 drew 12 offers and sold for more than $1 million. In Palo Alto, we’re seeing eight to 10 multiple offers for properties that are well-priced.  The San Francisco Van Ness office says some well-priced high-end listings are selling in 10-15 days. The same story is being told in Menlo Park, Southern Marin, Orinda – in fact, most of the Bay Area’s higher-end markets.

We just released our Coldwell Banker Residential Brokerage Luxury Report this week, and it shows million-dollar home sales in Marin nearly tripled last month from a year ago, while the median sale price jumped 25 percent.  The same was true in Silicon Valley, where luxury sales nearly doubled as the median price edge higher.

Now don’t get me wrong. While we’re seeing a promising recovery in many of our markets, we’re still fighting our way back to normalcy. The nation’s economy recovery is still very fragile. And the housing market’s gradual improvement must be sustained over time in the face of a challenged job market.  But the signs are encouraging that all sectors of our local housing market are slowly coming to life again.

Here’s a market-by-market report from our local offices:

San Francisco— The San Francisco market has the buyers – it just needs more sellers! The Van Ness office says that sales activity is very strong in $800k to $1.5M range – frequent multiple offers and selling after just 10 to 15 days for listings priced right. They’ve seen a few very high-end Previews property sales in the past two weeks, plus a fair amount in the $2M to $4M range.  Some older listings still sitting while newer to market are going pending –price and condition is critical. Buyers are definitely out there looking at open houses, the Noriega office reports.  One open house in the Outer Sunset, price in the mid $600,000 drew over 200 people during a three-hour Sunday open house.  They expect to have over 10 offers.  Value properties are definitely flying off the shelf. The Lombard and the Market Street offices say that business has definitely picked up, the majority of offers in some neighborhoods now multiple.  But as with elsewhere in the City by the Bay, agents are frustrated by the lack of inventory.

SF Peninsula— Sales are better than last year and the spring market looks promising in Burlingame, although buyers are taking their time to make a decision or the right inventory is not available now.  The entry-level price for Hillsborough is now very competitive with Burlingame and higher end San Mateo.  There are some excellent buys right now. Menlo Park offices report steady or increasing activity. One property listed for $1,749,000 had six offers and went substantially over the list price.   Well-priced properties are getting a lot of buyer attention with open houses very busy in all price ranges. In Palo Alto, Inventory is low compared to years past.  If well priced, we see eight to 10 multiple offers above list price.  It appears that buyers in Redwood City and San Carlos are thinking we are beginning to see a turn around and now is the time to buy. Properties that show well and are priced right are starting to sell quickly. Things are also heating up in San Mateo, where six out of 10 listings are attracting multiple offers.

Silicon Valley– Both sales and inventory are picking up steam in Los Altos, as half the sales are multiple offers. One new listing in Mountain View priced at $799K had over 165 groups through the first open houses last weekend.  Los Gatos also reports a “dramatic” increase in activity. In San Jose’s Almaden area, entry-level to moderately priced homes are in high demand with nearly all selling with multiple offers.  Prices are rebounding in Blossom Valley. The San Jose Willow Glen office is seeing more listings and buyers. Meanwhile, the San Jose Main office says activity over the past two weeks seems to have slowed a bit, but open houses remain active. Saratoga is still reporting very low inventory, down 28% from last year.

North Bay— There is a renewed sense of optimism among agents, reports the Greenbrae office – more properties are coming on the market, more multiple offers and more buyers stepping up to the table.  Buyers now know a good deal when they see one and realize the time to strike is now. Activity is also increasing in Northern Marin, with the majority of the new inventory not distressed.  Properties are still seeing multiple offers when priced well.  Buyers are pouring into open houses in large numbers.  One listing held open last weekend in Novato had over 70 people. It’s still a buyers market in Southern Marin as high end listings have been increasing rapidly (97 listings over $2 million). Santa Rosa reports inventory is still tight with multiple offers the norm in the lower price points – home above $500k are finally starting to be shown and sales are trickling in. Petaluma also is seeing a pickup in activity above $500k.  Most sales remain multiple offers in Sebastopol, with cash and large down payments continuing to beat FHA offers.

East Bay – There are a sea of buyers in Berkeley, but only a trickle of listings for them to choose. Listings are slowly coming in, but most sellers are not listing unless they have compelling reason to do so. It’s a different story in Castro Valley, where they’ve gone from a listing famine to more than they can handle, in all price points. But well-priced homes are still flying off the shelves, many with multiple offers and all-cash.  Danville is seeing both inventory and sales activity gradually increasing over the past several weeks.  Open house attendance has been very good and some buyers seem more optimistic. Ditto for Oakland-Piedmont, as well as Orinda and Walnut Creek, where the best properties are still getting multiple offers and agents are reporting more mid-week property showings. As anticipated, Fremont reports a steady increase of listings as we approach the spring selling season.  Livermore reports a very healthy market in the Tri-Valley area with listings increasing 26% in Livermore, 35.5% in Pleasanton, and 32% in Dublin this year. Pending sales have also jumped 16-24% in local cities.

Santa Cruz – We’re seeing multiple offers on many properties, both lower and mid-range. Our local offices closed two sales over $2 million.  Beach properties well priced continue to draw buyers especially under $1 million.  Inventory levels remain very low and prices are slowly inching upward.  The median price inched up to $500K from $380K a year ago with unsold inventory dropping to 844 single-family homes vs. 1,049 a year ago.  But we’re not out of the woods. Distressed properties including short sales and bank owned units represent about 48% of new inventory, so we definitely are still experiencing a stressed market.

Monterey Peninsula — The beautiful early spring weather is bringing lots of visitors down to enjoy the climate and scenery on the weekends, so our many open houses have increasing activity, especially in Carmel.  Many more consumers telling us this is a good time to buy with prices and interest rates down and still good inventory, except in the REO properties.  Still, buyers are careful in their offers and negotiating, not willing to pay more than their perceived value of the property, so many offers going by the wayside.  We have lots of short sales, still taking many months to get approved and closed – too long for some, generally the first buyer, so the homes are mostly going to the second or third buyer.

South County– The Morgan Hill office has had an interesting first quarter.  January saw sales and listings at an all time low.  The office rebounded in February and March with a large number of sales.  First time homebuyers dominated the market as did cash investors.  Good new for some sellers is that there are very few listings and demand remains very strong.  The consensus among South County Realtors is that prices remain attractive, interest rates are favorable and that there are not many new homes being built in this area – hence demand remains high for re-sale houses.

Keep in mind that the Fed seems to have made it clear this week that they will end their purchase of Mortgage Backed Securities as scheduled. This will likely result in an interest rate increase as investors for these mortgages will need to be enticed.

That’s it for now. Have a great week!

Rick
Rick Turley
President, San Francisco Bay Area
Coldwell Banker Residential Brokerage

- 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
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The residents of this great area pride themselves in all that is offered in each of its’ towns along the coast.  One of the ways to ensure we continue to not only maintain, but enlarge our appeal is through The San Mateo County Resource Conservation Districts’ Blue Circle meeting.  All are invited to attend the upcoming meeting on Wednesday, March 24 from 3:30-5:30pm in Moss Beach.  This informal meeting will go over the various aspects of Geotourism in San Mateo Coast.

Geotourism is ”best practice” tourism that sustains or enhances the geographical character of a place, such as its culture, environment , heritage, and the well-being of its residents.  The Blue Circle Community is designed to be a place to share information, ideas and resources to enhance the natural resource management, stewardship and education of the San Mateo Coast.  Learn more and rsvp to attend this event at coastsider.com.

We enjoy providing the San Mateo Coast about current events and news that affects our community.  If you have any questions regarding the San Mateo Coast or are hoping to make this your permanent home, feel free to contact us!  We look forward to talking with you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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The San Mateo Coast climate is ideal for gardening and this works in our favor as we consider the use of medicinal herbs.  If you’re not familiar with the herbs and their uses, there is a class, Herbal Basics of Herbal Garden Medicine, taking place on Sunday, March 21 at Pacifica Gardens.

This class, taught by Dina Ayala, will cover infusions, decoctions and herbal teas.  Learn which herb can cure your ailments such as stress and insomnia! The medicine you need can be grown right in your own backyard and this class will help show you how.   You will also be able to taste some of the herbal remedies and learn how to make a few of them.  Learn more here.

It’s important that we take of the environment around us and our health, and this is a natural way to do both!  One of the things we enjoy about living in the San Mateo Coastal area is being presented with opportunities such as this year round.  If you are interested in learning more about this great area or have any questions, please let us know!  We’d be happy to help you in any way we can.

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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Enjoy the expansive views from this Tahoe-inspired home in Montara.  This four bedroom, three bathroom home is set on an extra deep lot which features delightful gardens.  One of the many highlights of this home is wood beamed cathedral ceilings which create an environment of spaciousness plus the open and light floorplan.

A wall of oversized Pella windows in the great room allows natural lighting to come streaming throughout the main living area. Feel the tranquillity of the great room when you take in the tree lined views and Montara Mountains. The brick fireplace with gas insert will be a favorite place to cozy up on cooler evenings. Large sliding glass doors grant access to the outside front deck.

Conveniently located just off the great room is the open kitchen featuring stainless steel appliances, enough counter space for a cooking party plus a breakfast bar. An oversized pantry and Viking stove are added bonuses while the view from the kitchen makes cooking a joyful event. The cathedral ceilings continue into the kitchen and family room as well as the abundance of windows and natural lighting. Dining can also be enjoyed in this space and with access to the upper back deck; entertaining is easy as the deck has existing water for your potted garden and natural gas for your BBQ.

The upstairs bedroom offers a cathedral ceiling echoing those found throughout the home and is highlighted by its own sliding glass door and deck access. Lovely flooring and deck access are among the favorite features of the second bedroom, while the third bedroom is ideal for a home office. The spacious Master Bedroom has a wall of closets and sliding door to the wrap around deck and inviting backyard. An additional full bathroom and indoor laundry room with extra storage offer the convenience you desire.

Outside one will find the large, deep lot and garden environment to be relaxing and a great space for entertaining. This home has the open floor plan and views that anyone will be sure to appreciate!

Asking Price: $775,000
MLS: 81008102
Sq. Feet: 2400
Lot Size: 6250 sq ft
Bedrooms: 4
Bathrooms: 3
# of Floors: 2
Garage Size: 2
Subdivision: Montara
Year Built: 1984

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
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* * UPDATE – This property has been sold. * *

First impressions are vital in the sale of your home, and we want to make sure yours make a positive lasting first impression!  By creating beautiful curb appeal, buyers will get a sense that you care for your property and have the same respect and care for your home.  The lawn and exterior sets the tone for how the buyers will view your home- making it a very important aspect of the home sale.

Below are a few landscaping tips that will “wow” buyers.  They may not even realize why they are drawn to your home, but the goal is that they view your home as set apart from all other properties they’ve seen.

1.  Add splashes of color – A landscape should provide a new display of colors, textures, and fragrances.

2. Size trees and shrubs to scale – These should be planted in the right scale for the house so that they don’t block windows, doors, and other architectural features on the home’s facade.

3. Maintain a perfect lawn – A velvety green lawn demonstrates tender loving care, so be sure sellers’ homes don’t have brown spots.

4. Light up the outside – Good illumination allows buyers to see a home at night and adds drama.

5. Let them hear water – The sound of water appeals to buyers, and you shouldn’t just reserve this for your backyard.

6. Use decorative architectural elements – A new mailbox, planted window boxes, and a low fence wrapped in potato vines add cachet.  Just don’t overdo!

View the full article 6 Landscaping Tricks That Wow Buyers.

Start planning now how you will spruce up your San Mateo Coastal area home as the warmer air begins to blow Spring our way!  If you have planned ahead- this will make improvements more efficient allowing your home to be placed on the market more quickly.  We have years of experience in the San Mateo Coastal real estate market and know that we can make your home sale a quick and stress-free process!  Finding a new Coastal home is something we’re passionate about helping buyers with as we have a strong base of properties for sale and a solid network in the San Mateo market.  Contact us today to set up a meeting!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Experts

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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1. Inflation leads to higher interest rates.
2. Houses are selling in high quantities.
3. If you’re a seller, it’s time to cut your price and be decisive; if you’re a buyer, it’s time to purchase or miss out on the opportunity.

Houses Are Selling in High Quantities

According to the National Association of REALTORS ®, the U.S. is currently in position to sell 4.68 million homes this year. That would put 2009 within the top 5% of homes sold in U.S. history. Although many people are purchasing distressed properties in foreclosure or short sales, there’s also a large number of purchases made on non-distressed property sales. The market is indicating that we may have reached the bottom.

Buyers and Sellers

• Buyers—don’t make the mistake of waiting for everybody else to make a move before you feel comfortable enough to purchase. Many people have made a purchasing decision already, and we never know what the bottom of the market is until it has passed. Here’s one thing you can take to the bank – higher interest rates are the equivalent of a price increase.

• Sellers—if you’re serious about selling your property, adjust your price to where the market is moving, take your lumps and move on, or you’ll be waiting a long time.

“Get ready for inflation and higher interest rates.”  – Arthur B. Laffer, Wall Street Journal, June 11, 2009.

Information Provided by
Susan O’Driscoll
Princeton Capital- Experts in Home Lending
650-712-2483

_______________________________

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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** Open House – Saturday 2/20 & 2/27 from 1:30 – 4:30pm & Sunday 2/21 & 2/28 from 1:30 – 4:30pm **

Enjoy the coastal area of Montara in your very own ranch style home! This three bedroom, two bathroom residence is updated and ready for you to move right in! The charming living room with pellet stove insert in the brick fireplace, hardwood flooring, recessed lighting, and sliders that lead to the extra deep backyard, is a great place to entertain your loved ones. Cook with ease in the bright and airy kitchen featuring ample cabinetry space and tile countertops. Enjoy meals in the eating area with lots of natural lighting. This room also conveniently opens to the living room and grants access to the backyard!

All three bedrooms feature hardwood flooring and neutral décor. Two renovated bathrooms, and an oversized, deep fenced-in backyard leaves you plenty of room for endless possibilities. Updates of the home include: refinished hardwood flooring, dual pane windows and new water heater. Contact us today for a private viewing of this home!

Asking Price: $669,000
MLS: 81007023
Sq. Feet: 1,270
Lot Size: 50′ x 125′
Bedrooms: 3
Bathrooms: 2
# of Floors: 1
Garage Size: 2
Subdivision: Montara
Year Built: 1963

In late January the Federal Reserve met and confirmed that the Mortgage Backed Securities (MBS) purchase program will end on March 31, 2010. We expect rates to begin moving up as a result of this–what is uncertain is how quickly and how much. Most experts place the rate change value at 100 bps difference, or 1% higher mortgage interest rates. Our best guess at the outlook places rates at the beginning of the year (now) in the low 5′s and ending in high 5′s to low 6′s. However, expect volatile cycles.

The wild card with regard to short term interest rates (which would affect prime rates, and adjustable rate mortgages) is any change in the Fed’s pre-commitment language which, as of their meeting, is currently committed to keeping the Federal Funds Rate exceptionally low for an “extended period.”

We don’t expect the Fed to raise short term rates any time in 2010, but long before the Federal Open Market Committee (FOMC) actually does the deed, it will have to change its language. That could very well happen in 2010, and there is genuine uncertainty over how quickly and strongly the market will anticipate a tightening process.

Keep in mind that rates are currently about 1% lower than they would be if the Fed weren’t buying all those Mortgage Backed Securities. This means when that 1% suppression is no longer in effect, it would cost about $21,000 to buy the rate down by that 1% on a $700k mortgage. When you combine the 1% lower rate with the tax credit, you see that homebuyers stand to gain between $27,500 and $29,000 on a home in the $800,000 or under price range. That’s a big incentive to act now, while both incentives still exist.

Andy Block
Mortgage Advisor & Financial Advisor
Reverse Mortgage Specialist
DRE License 01096311
Opes Advisors, Inc.
400 S. El Camino Real, Ste. 250
Ph: 650.931.0605
San Mateo, CA 94402
www.opesadvisors.com
OPES/ope’s • n./latin for wealth

_____________________________________________________

We’re here to help with your Real Estate needs.  Let us know how we can best serve you!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
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The first is taking place this Saturday, February 13, on the shores of Half Moon Bay where surfers from around the world will compete in the Mavericks Surf contest for the $150,000 prize.  Surf enthusiasts and local business owners welcome this event which has brought in upwards of 40,000 spectators in the past to the small beach surrounding Pillar Point.  For those not planning to attend the event, please note that Princeton will be closed to drivers coming off Capistrano Road at Prospect Way and Airport Street on contest day – except to Princeton residents and business owners.  And although this may make travel around this area tricky, it’s a small price to pay for the attention and business brought to our community.  If you’ve never witnessed the Mavericks Surf contest, this may be the year to check it out!

Another exciting event of which our community gets to be an integral part is The Amgen Tour of California bicycle race which was officially announced this past Wednesday and will make its way along the San Mateo Coast.  Highway 1 is stage three of this six-stage race along the coast making this the second time our highway will be used in the five years of this race’s existence.  Set for May 18, this race 120 mile race begins in Ocean Beach in San Francisco at 11:15 am and concludes in Santa Cruz, about four hours later.

If you’ve always wanted to be involved in a community where fun events are guaranteed and the residents enjoy taking part in all that’s offered, perhaps the San Mateo Coastal area is for you!  We’ve loved living in this paradise inspired location and know you would as well!  We’d be happy to show you around the community and some of the great homes that are available.  We hope to hear from you soon!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
Visit My Website
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This is no more clearly seen than in the upcoming event “Spring Ahead” on February 24 from 6-8pm at Cypress Meadows in Moss Beach.  This unique event will highlight organic food from the local farmers markets, tips from resident experts on gardening and healthy living as well as live music and dance performances!  Learn about sustainable landscaping and how you can transform your lawn to be independent of water and chemicals.  Have your questions answered and become inspired by creative ideas!

San Mateo Coastal area offers many events like this throughout the year to make sure our community is growing together as we grow our environment.  Learn more about this event.

If you are searching for a strong community in a naturally beautiful setting – look no further!  The San Mateo coast has it all with close proximity to big city life while retaining a charming small coastal town feel.  We would enjoy the opportunity to answer any questions you may have regarding life here on the coast and would be happy to show you some of the amazing coastal properties that are the perfect place to call home!

Kathy & Michael Rain
Your San Mateo Coastal Real Estate Expert

San Mateo Coastal Real Estate
View San Mateo Coastal Listings
Visit My Website
Email Me

* *  Join Us at an Open House, each Sunday in February from 1:30PM to 4:30PM!  * *

Have you ever dreamed of living in a home with ocean views located in a quaint beach town? This dream home is now available and in move-in condition! Imagine waking up to the sounds of waves crashing or watching the sunset over the ocean while sitting peacefully in your home. Only thirty miles from San Francisco in the quiet town of Montara, this three bedroom, two bathroom home is far enough away to enjoy solitude but close enough to take advantage of all that the community has to offer!

Lovingly maintained and beautifully remodeled throughout, this open floor plan home is only a short distance to the beach and boasts unique features. Entering the foyer, you will notice the oak hardwood flooring and crown molding that shows the great attention to detail. These features continue into the living room where you will find the large picture window affords scenic views while the stunning brick fireplace adds a touch of warmth. The gourmet kitchen will be a favorite place to gather and enjoy the art of cooking while taking in ocean views. Travertine flooring, granite countertops and maple cabinetry are accented by top of the line stainless steel appliances. Viking dual ovens and cooktop range, a sub-zero refrigerator, wine refrigerator and stunning Franke kitchen deep sink are among the many features that make this an ideal chef’s kitchen. Host dinner parties in the dining area which conveniently opens to the kitchen and boasts a chandelier.

Stunning master bedroom suite acts as a private getaway with its own gas fireplace, an art niche situated in the corner of the room and a large walk-in closet. French doors lead out onto the back deck and manicured yard. The spa-inspired master bathroom comes complete with marble flooring, gorgeous soaking tub and granite vanity. Two additional rooms offer plenty of space for a large family or weekend guests and boast closet organizers. The guest bathroom mimics the master bathrooms’ marble flooring and granite vanity.

This homes’ unique features are endless and are what make this such a desirable place to live. Coming home will be like a vacation with the serene setting and access to many outdoor activities such as hiking, kayaking, sailing and surfing as well as close proximity to the Fitzgerald Marine Reserve. Truly a masterpiece, this home is a must-see!

Asking Price: $950,000
MLS: 81005605
Sq. Feet: 2,000
Lot Size: 5,000 Sq. Ft.
Bedrooms: 3
Bathrooms: 2.5
# of Floors:  2
Garage Size: 2 Car Attached
Year Built:  1976

“What’s happening? First-time buyers are rushing to take advantage of the federal tax credit before it expires this spring. Unfortunately, we aren’t seeing a commensurate number of sellers bringing homes to the market to capitalize on this. There are inventory shortages throughout the Bay Area. Open homes are attracting a flood of serious buyers. The result is that attractive, well-priced homes in good neighborhoods are getting lots of interest and, in some cases, multiple offers. 

Without as much competition for buyer’s attention, a well-maintained home could stand out like a redwood tree in a desert. This may not last for long as more homes come on the market in the weeks and months ahead (don’t forget the old adage that people start listing homes after the Super Bowl).

So by and large, it’s pretty much a conversation about inventory when you talk about our Bay Area real estate market.  Even the luxury market, while admittedly slower than lower price points, has inventories trending down.  Take San Francisco, for example, for homes over $2 million.  The luxury market finished out December 2009 with a 6 months supply of inventory – compared to 10 months supply for the same period in 2008.  You’ll find similar trends in the high end in many of our communities in Silicon Valley, Peninsula, Marin, and the East Bay.  Accuracy in pricing and attention to detail in showing condition remains critical in the luxury markets, but sales activity is picking up and inventories are going down.”  by Rick Turley, President, Coldwell Banker San Francisco Bay Area

 Current homeowners can now receive a $6,500 tax credit, while first-time buyers are still eligible to receive an $8,000 credit. 
But act soon, the opportunity of a lifetime ends April 30th, 2010.

First time Home Buyer Credit has now changed 3 times.  The biggest change came in December 2009:
Extends the First-Time Home Buyer Tax Credit of up to $8000 to first-time home buyers until April 30, 2010 under the Binding Contract Rule-“as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until June 30, 2010 to close.
Who Qualifies-First-time homebuyers and current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five (5) consecutive years within the last eight years.
Increased Buyer Income-Under the Extended Home Buyer Tax Credit-effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000-may receive the maximum tax credit.
Price-Under the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.

HURRY IF YOU’RE THINKING OF PURCHASING OR YOU’LL LOOSE OUT ON FREE MONEY!