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! Read more
I Earned that Deal…BUT!
Another Realtor(r) walked away with a check. Please understand this rant is not directed at clients who’s transactions do not work out despite the best intentions. There are times when as a Realtor you spend a great deal of energy and effort and then, for a variety of reasons, it just doesn’t happen. No, readers, this is the story of being the Starter Realtor.
My tale started when I began working with clients who had a very set idea about what they were looking for. They were pre-approved Read more
5 Advantages for Move-Up Buyers In This Market
Five reasons current home owners should consider upgrading to a new home.
1. Interest rates are at historic lows: Lower interest rates means you can now buy more home then you could have a year or two ago.
2. Prices have come down: Even if your current home may be worth less than the last peak in the market, the next home you are looking for will probably be as well. The percentage decrease will actually help you get more house when buying up to a larger home.
3. There are still a good amount of homes on the market right now, both new construction and existing, giving you lots of choices and negotiating power.
4. You can move in to your new home faster, as many builders either have completed homes in inventory or they can start working right away due to the production slowdown.
5. You may have outgrown your home, but its probably someone else’s ideal starter home. With the $8,000 tax credit just recently being extended and the new $6,500 tax credit for move up buyers, now is the time to market your home to first-time home buyers.
For more information about the tax credit please visit http://www.federalhousingtaxcredit.com/
This Real Estate Blog is by Adam Chinn
Prudential San Bruno 1st Annual Halloween Pumpkin Patch
Prudential San Bruno will be hosting our first annual Pumpkin Patch this Saturday October 24th from 10am-2:00pm. Our parking lot will be set up like a pumpkin patch and families are welcome to pick one pumpkin of their choice and enjoy goodies such as hot chocolate and cookies. Candy goody bags will be given to children as well as the option to have your face painted or take a picture to take home to remember the event. During the pumpkin patch we will be having our “Coats for Kids” drive so anyone who can spare a coat will be entered into a drawing to win 1 of 20 $50.00 gift cards from Target.
Please join us in making our first annual Pumpkin Patch a success!!
Bank or Mortgage Broker? Who to Use?
Where is the best place to get your home loan….a bank or a mortgage broker? Over the course of my many years in real estate, I have waffled back and forth over this question. Many times my decision on whom to refer would be based on the credit of my buyers. If they were self employed, had a small down payment or not-so-good credit, I would usually suggest that they talk to a mortgage broker. If they had excellent credit scores and a good down payment, I would usually suggest that they might be better off going directly to one of the major banks.
Now, after an incredibly negative experience with one of the largest banks operating here in California, I am leaning much more towards referring all clients to mortgage brokers, because I know that they will do the job and, most importantly, will actually care about my clients. Read more
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
Your words say “Yes” but your actions…not so much!
In any sales position, a person’s living depends a great deal on their ability to figure out who is ready, willing and able to buy and who isn’t. In addition to understanding real estate, a Realtor® has to be able to analyze how serious a potential client is and then determine the amount of energy appropriate for that client. We’ve all had buyers who insist buying is something they really want, when every other signal the buyer is sending screams “Not in this life time!”. If you feel as a buyer you are not getting the attention you deserve, it could be the realtor, or it could be time for a little self reflection. Read more
It’s not what they offer, it’s what you walk away with that counts!
When it comes to buying or selling a property, the conventional wisdom is that it’s all about the offer price and that certainly is a big part of the picture. However, a seller really needs to think about what they will walk away with, or rather, what they will NET; after all selling expenses are paid out. As a seller you have to make decisions that in the long run may end up costing you money. Read more
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