Comments on: San Bruno Real Estate “Shake Up”!

By: Mark Landsman

Mark Landsman — Tue, 02 Jun 2009 19:30:49 +0000

I think that many people who bailed on their mortgage payments in an effort to short sell will be regreting that decision soon. I think that the activity in the less expensive homes is bound to trickle up to the high end when the loans become more available in that price range.
I wonder what % of the short sales are closing.

By: Sophia Lin

Sophia Lin — Wed, 27 May 2009 02:55:22 +0000

Wow wee Karin, that was so informative. Boy what a difference it makes when you break things down to prices and time frames. Thanks keeping us all updated on the San Bruno real estate market!!

By: Jean Joh

Jean Joh — Sat, 23 May 2009 20:33:16 +0000

Hi Karin,
Fantastic blog & such positive energy! Thanks for sharing those stats. Whenever people ask me how the market’s doing, they are often surprised when I tell them how busy I and the rest of the office are doing. It’s great news and hopefully an indication of good things to come.

By: Lee Ginsburg

Lee Ginsburg — Fri, 22 May 2009 04:10:47 +0000

Karin,

The San Bruno-South San Francisco real estate market has turned 180 degrees. And quickly. As agents we always talk about getting our buyers in the right mind set to over bid and move quickly. We as agents have to do the same. A property comes on the market we must notify our interested clients immediately. No longer can we count on the home being available tomorrow or the next day. As agents we have to present professional clean offers. Due to the lenders backlog we cannot tighten up on the loan contingency but we need to shorten or eliminate inspeciton contingencies. It might be the time again to include a letter from the buyer to the seller. Those cute family photograghs might come in handy once again. The “Perfect Storm” has arrived. Low prices, low interest rates plus $8000 tax credit has made the San Bruno and South San Francisco and Daly City Real Estate Market red hot.

By: Brian Boisson

Brian Boisson — Thu, 21 May 2009 15:21:33 +0000

Karin,

Thanks for sharing all the facts and the inventory update.

Value is the buzzword in the marketplace for most consumer goods, and San Bruno offers much value considering it’s housing stock, location, weather,schools and the community amentities.

Thanks again!

Brian

By: Stefani Hartsell

Stefani Hartsell — Thu, 21 May 2009 05:59:30 +0000

I think you are right on target. The news media will start reporting all of this next month. But, right now and over the last few weeks we have seen an explosion in the market. Too many multiple offers to mention. And the return to $729,750 max conforming loan amount has energized the mid-market, $700K-$1mil. And I am involved in a multiple offer situation on a $1.345 million listing in Los Altos. So, well priced homes are really moving.
stefani

P.S.: High quality lenders can offer conventional loans to $729,750 with 10% down. This is not meant to be an advertisement. Just a reality check on all the gloom & doom. Loans aren’t that difficult to get. Many of us lenders have been lending responsibily for years; now, the rest of the market is returning to reasonable debt-to-income and credit scores. Nothing too crazy there.

By: Dolores

Dolores — Thu, 21 May 2009 03:16:45 +0000

We bought our first home in San Bruno 13 years ago. When the interest rates were low, so many of our neighbors were heading to other areas and buying BRAND NEW, HUGE homes. Tempted to do the same, we sold our beloved first home, but stayed here in San Bruno!!
Kept my great job in SF with my 15 minute commute, kept the kids in a great SB school and keep meeting great people like Karin who are committed to continually strenghtening our community. (Plus, who wants a house with 5 bathrooms to clean!)

By: Anne Oliva

Anne Oliva — Thu, 21 May 2009 01:30:24 +0000

Karin,
I love the power of positve thinking. You keep it up and this housing market will be right back where it should be.
Annie O.