San Bruno Real Estate “Shake Up” 2010!
112 Georgia Ave. San Bruno, Ca. $419,000So far, in 2010, San Bruno real estate inventory is low making it a great new environment for homeowners who have been thinking of selling! Currently there are only 30 homes for sale ranging from $299,000 for a small one bedroom home to $1,000,000 brand spanking new homes in a new developement! Md range is about $550,000-$600,000.
With interest rates still teetering between 5 and 6%, home buyers are out in full force looking for good deals before the rates hike up!
What we are seeing is pretty quick sales of homes in the lower and mid ranges while the high end homes are taking awhile. They are selling though! It took quite a few months but the new homes in the Skycrest Develoment next to Lunardi’s have all sold! One most recently at $918,000!
802 Skycrest Dr. SOLD $918,000FHA loans are popular with a low amount of 3.5% down but many homebuyers are purchasing with 10-20% down that has been saved or come from equity lines on a home meaning that many of our buyers these days are move up buyers who have managed to build equity in their first homes! That’s great news!
The competition in the low and mid ranges are still bank owned homes and short sales but there are some regular sales out there amongst them!
As I walk the neighborhoods placing neighborhood newsletters and notepads on people’s doorsteps, I notice that most people are staying put. People who own homes or rent them for that matter like where they live here in San Bruno and don’t plan on selling anytime in the near future unless a fantastic job opportunity comes along, a new family grows out of a small home, or an senior downsizes. I don’t blame them. I live here, too, and I enjoy my neighborhood in Huntington Park. I like that I am walking distance to everything, even though I choose to drive. I imagine that’s how a lot of people feel.
At this point of my life with my kids in elementary school and taking part in all that San Bruno Park and Rec has to offer, I am here as a San Bruno neighborhood resource. If you want to know what’s going on in the park, Chamber of Commerce, real estate, or anything else, chances are I can help you. I also help people buy and sell houses in San Bruno and other parts of the peninsula. Please visit my website and check out my videos at: www.KarinCunningham.com
Your friend,
Karin
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3 Responses to “San Bruno Real Estate “Shake Up” 2010!”
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Karin,
I just held a San Bruno home open and was very pleasantly surprised by the amount of potential move up buyers. I had 5 groups come through in the early stages of the investigation of their options. Stay and add on or buy and move. Some were moving for a larger home and others for better schools. Very positive for the market.
Karin,
Having growing up in San Bruno I certainly agree with you and it is interesting to note the variety of homes San Bruno offers.
From cozy studio condominiums at Shelter Creek and Peninsula Place all the way up to our newer luxury homes like the Skycrest and Merimont Homes, there seems to be a home for just about any size and budget here.
Brian Boisson
Inventory is low and there are a number of buyers looking