Should I rent or buy?
Should I rent or buy is a question that just about everyone asks themselves at one time or another. At what point does it make more sense to own a home than to rent one? Much of the decision comes down to personal choice…..Do I want to be in charge of my own home or have someone else be responsible for repairs and maintenance?
For me, the choice was a relatively simple one because I have always hated the idea of a landlord telling me what I could and couldn’t do in my home, so I always knew I would try to do whatever I could to purchase my own home.
In the end it often comes strictly down to the money. Sometimes, it simply doesn’t make sense to purchase a home, particularly if it means that you will be struggling to make the payments each month, let alone pay for property insurance and taxes. When my son and his wife were trying to decide whether to continue renting or buy a home, they went to this website and found it to be very helpful: http://www.decisionaide.com/MPCalculators/Menus/MP_Calculators.asp. When you get there scroll down the page and you will find a link for Renting vs. Buying. Read more
The Future of Police Services in Millbrae
Important Town Hall Meetings are being held this week to discuss the future of police services in Millbrae. The City of Millbrae has reduced the size of its police force by an estimated 26% over the past ten years, and staffing resources are apparently at a minimum, “non-sustainable” level and currently does not even have a full-time Police Chief. The City Council has been exploring several options, and the current proposal involves outsourcing to the San Mateo County’s Sheriff, which is projected to save about $167K in personnel costs when compared to the current police budget. On the other hand, it will take an additional estimated cost of $410K to fund the recommended Police Department staffing.
Personally, at a time when the economy is doing poorly and I’ve been hearing of more incidents of burglary and theft, this seems like the wrong time to cut back on safety and security resources. Both as a homeowner and as a real estate agent in Millbrae, I know one of the big attractions is the “small-town” feel where people can feel relatively safe, and parents don’t have to feel nervous about letting their children go trick-or-treating, and I’d hate to see that go away. Read more
Labor Day Weekend Fun on the Peninsula
For those of you staying home this Labor Day weekend and enjoy eating great food, here are two great events going on you may want to check out… I have attached flyers to the events and a coupon for admission to the Belmont Greek Festival. Enjoy your Labor Day Weekend!
Belmont Greek Festival
Labor Day Weekend, Sept. 3-5
With the aroma of luscious barbecued lamb and the strains of upbeat bouzouki music, the 41st Annual Belmont Greek Festival swirls into the mid-Peninsula on Labor Day weekend, Saturday, September 3, through Monday, September 5, at the Greek Orthodox Church of the Holy Cross, 900 Alameda de las Pulgas (corner of Ralston Avenue), in Belmont.
The three-day extravaganza is expected to draw nearly 20,000 visitors for the homemade Greek meals, specially-prepared desserts, nonstop entertainment and fun children’s amusement area, according to festival organizers.
“We want our guests to sample Greek hospitality at its best,” said Festival Co-chairman Gary Brenner.
“When Greeks entertain, they put out their finest of everything, and first and foremost, that means their best cooking,” Brenner said, “which means a lot of labor and a lot of love.” Read more
Is the Bay Area Home Buyer Obsessed with School Scores
Many homebuyers in San Mateo, San Bruno, Burlingame, Millbrae and up and down the peninsula purchase their homes based on school scores. I am not sure if API, Academic Performance Index, (http://www.cde.ca.gov/ta/ac/ap/ ) scores is an accurate evaluation method to determine a young person’s education. I find the API scores of a school to determine the college you child goes to as reliable as a City’s Median home prices is in determining the value of your home. Homes in a city are varied and encompass a large diversified area just like a school’s diversified student enrollment and have high and low performing students.
Many of our public schools have a large population of intelligent non- English speaking immigrants. Teachers are trained and cater to that specific group and they also teach to the more advanced student by offering enrichment classes, honor classes, etc. Both of my son’s went to a public High School in San Mateo that possibly has the lowest scores amongst the San Mateo High Schools. They both graduated and went to very good schools. In their graduating class several students were accepted into Harvard, Stanford, MIT and more of the top schools. Some of their friends went to a private high school, were not happy, did not perform well and transferred out. A peninsula high school with a rating of 10 has had an epidemic of suicides. Top scores is not the final answer. Read more
Pumpkin Patch, Cabbage Patch…Millbrae Patch?
photo credit: Patrick Hoesly
photo credit: Patrick Hoesly
Just a couple examples of what you’ll find on the Patch for Millbrae, where I live:
- A list of events in the area to celebrate the Lunar New Year throughout the month of February: http://millbrae.patch.com/articles/chinese-new-year-events
- A list of the ten best restaurants opened in 2010: http://millbrae.patch.com/articles/10-best-millbrae-restaurants-opened-in-2010
Or how about in San Bruno, where my office is located?
- Mastick Avenue Residents Vow to Keep Neighborhood Safe After Shooting: http://sanbruno.patch.com/articles/mastick-avenue-residents-vow-to-keep-neighborhood-safe-after-shooting
- San Bruno Real Estate Enjoys Growth for Third Month in a Row: http://sanbruno.patch.com/articles/san-bruno-real-estate-enjoys-growth-for-third-month-in-a-row
There’s a patch.com site for almost every city in the Peninsula: South San Francisco, Burlingame, Pacifica, Belmont, Foster City, San Carlos. What a great way to keep on top of what’s happening in your area or if you’re thinking about moving, to get another taste of the city you’re considering.
Jean Joh: Visit my website at www.jeanjoh.com or follow me on twitter as jeanjoh.
San Mateo County Storm Watch
I received this information from a friend and thought I would share. Although it pertains to information in regards to South San Francisco, there are some great tips on how to be prepared in case of emergency.
This is a hazardous winter weather alert. Beginning Sunday and continuing through the rest of the week…a series of strong storms are expected to roll across the San Francisco and Monterey Bay Regions. The first storm is forecast to bring substantial rain across the Bay Area Sunday into Monday. Additional storms are then expected for much of next week. During the next seven days 10 to 20 inches of rain are expected to fall in the coastal mountains and 8 to 15 inches in the inland valleys and foothills. Due to many days of rainfall local flooding could occur. In addition, the storms beginning Tuesday or Wednesday are likely to also produce strong gale force winds that could cause property damage and power outages. Depending upon the intensity and duration of the rainfall coupled with a high tide localized flooding could occur in the low lying areas of SSF (San Mateo Ave. Airport, etc.).
This is the strongest storm of its type that has hit SSF for several years IF the forecasters are correct in their assessments! Read more
Calling All CRAB FEEDS!
Yes, crab season is underway, and I’m starting to hear news of CRAB FEEDS all around the San Francisco Peninsula. What a chance to stuff yourselves with crab while supporting great causes. Here’s a little a plug for one in my hometown of Millbrae:
Hosted by Mills High Grad Night, Mills Sports Boosters, & Millbrae Lions Club
Saturday, February 6th from 6:30-9:30pm at the Millbrae Recreation Center
For more information, visit: http://millsgradnight.com/media/Crab_Feast_Flyer.pdf
Know of any others? Add them to this blog via the Comments section, and if there are enough, I’ll come up with a calendar for those who want to have a CRAB FEED MARATHON over the next couple of months. Bon appétit!
www.JeanJoh.com
Jean Joh- Prudential California Realty- Residential real estate
Market Trends
I have done research and compared the market last year in September 2008 to this year in September 2009. These numbers are for single family homes. Here are some of the results:
Daly City:
Inventory down 49%
Properties under contract up 12%
Months supply of inventory down 79%
South San Francisco:
Inventory down 60%
Properties under contract up 90%
Months supply of inventory down 88%
San Bruno:
Inventory down 60%
Properties under contract up 9%
Months supply of inventory down 66%
Millbrae:
Inventory down 34%
Properties under contract up 67%
Months supply of inventory down 69%
In all four cities the inventory is down while properties in contract are up. Meaning supply is low and demand is high. Competition for homes in these cities is high, but it is still a great time to buy. This also means that home owners considering selling their home may want to contact a Realtor to see what their home is worth and think about weather it makes sense for them to sell or move at this time. The market has definitely changed for the better and this is a great sign for things to come not only for the housing market, but for our economy as a whole.
This Real Estate Blog is by Adam Chinn
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