peninsula real estate: What if I hate my neighbors? - 08/02/10 03:18 PM
Finding a home with great neighbors can be the luck of the draw.
When buyers we help find a home are concerned about who their new neighbors might be, I'm reminded of my childhood experiences trying to lay claim to the perfect campsite.
When I was a young, like so many of our generation, our parents took us on summer camping trips as a frugal way to enjoy a vacation. As we entered the campground, finding the perfect campsite was always a moment of great anticipation. Competition was fierce for the great sites; as with most people who want to get … (1 comments)
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peninsula real estate: If you are willing to commute a bit some good Bay Area housing deals can be had - 06/03/08 07:32 PM
On the Bay Area Peninsula, the housing values have remained fairly stable with low foreclosure rates and local job growth. But there are still relatively good deals to be had. One needs only to venture north to the upper end of the Peninsula--cities like San Bruno, South San Francisco and Daly City--to see the drastic discrepancy in the markets. For example, on the southern end of the Peninsula, in Palo Alto for instance, the median price has continued to rise slowly, while in Daly City the values have reached levels which pre-date the run-up in 2005. Of course living in Palo … (0 comments)
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peninsula real estate: And just one more reason real estate sales are down… - 05/04/08 02:52 PM
After reading Kenneth Harney's article titled "Tight credit hitting specialized areas of mortgage market" in the May 3, 2008 Real Estate section of the San Francisco Chronicle, it struck me how far we have to go to return to a more normal housing market. Mr. Harney discusses the multitude of new restrictions on home mortgages which all have one glaring similarity-they make it harder for borrowers to get a loan.
Some of the new loan restrictions affecting home buyers are:
•· No more zero down financing
•· No more stated income for non self- employed people
•· No refinancing a property that had a … (2 comments)
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peninsula real estate: Bad News for Renters as Prices Climb - 04/21/08 09:05 PM
You've got to admit, renters have had a hard time. After being squeezed out of the homeownership market for years they now face getting squeezed out of the rental market as well.
But more to my point...ever notice that plane crashes come in three's? Do they, or does the media just report them that way? Ever notice after a plane does crash you hear nothing but planes crashing all day. Are planes suddenly dropping out of the sky in some fit of protest? Hardly.
I've also noticed a distinct pattern to the San Francisco Chronicle's Sunday Real Estate section. Each week they organize … (0 comments)
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peninsula real estate: South San Francisco--A Close Look At The Housing Market - 04/06/08 04:09 PM
This is a graph for South San Francisco median home prices illustrating the home price trend for 2007 as compared to San Mateo County as a whole. It's certainly no shock to us that San Mateo County outperformed South San Francisco as a whole since San Mateo County is comprised of very affluent and stable markets such as Atherton, Hillsborough, Woodside and to a lesser degree Burlingame, Belmont etc.
South San Francisco was hit harder by the mortgage crises and subsequent default fallout since so many of the homes sold there were sold to first time homeowner with 100% bank financed purchases.
SALES
• Sales are down … (0 comments)
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peninsula real estate: Belmont Housing Market Update-March 2008 - 04/03/08 05:45 PM
BELMONT'S MEDIAN HOME VALUE IN MARCH
Belmont's median price rose $13,000 in March of 2008 to $984,500 from $971,500 in March 2007-a 1.3% increase. As always, we further examine the median size home to see if larger or smaller homes selling during the sample period could influence the numbers. Since the median size home for both periods was essentially the same, no adjustment was made this month.
SALES CONTINUE TO BE DOWN
Only 14 homes closed escrow in March as compared to 28 for the same period last year-clearly underscoring the unease in the housing market and the economy as a whole.
STRIKING A … (0 comments)
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peninsula real estate: Bay Area Median Values are Worthless - 01/10/08 11:06 AM
What You Hear About Median Home Values May Be Completely Wrong
The Multiple Listing Service for the Bay Area peninsula has launched the December sales stats and there is some compelling evidence that Bay Area homes values dropped slightly over 2006.
The median home price is the midpoint at which half of the homes sold for more, and half sold for less. Of course if smaller or larger homes are selling then these numbers are easily skewed-especially with a small market sample.
San Mateo County posted a reduction in the median home price to $885,000-a $40,000 (4.3%) decline over $925,000 in 2006.
This … (0 comments)
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peninsula real estate: Days on Market and Price Received Correlation - 01/10/08 10:47 AM
Days on Market and Price Received Correlation
Though the nation's mortgage industry is tumultuous at best, the peninsula market in the Bay Area is faring much better.
Last month 17 homes sold as compared to 14 in 2006 and off the high of 25 in 2005. That's a glimpse the market may not be getting too much worse.
Of those 17 sales eight sold over the seller's asking price, two sold at asking and seven homes sold under asking.
The average time it took to sell a home was 39 days. Of the homes which sold over asking however, they took only 18 … (0 comments)
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peninsula real estate: Alternative Real Estate Models - 12/11/07 07:37 PM
Drew & Christine Morgan,MorganHomes.com … (0 comments)
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peninsula real estate: Belmont's November 2007 Market Re-Cap - 12/11/07 07:25 PM
November’s numbers are in and there are no real surprises. Last month’s momentary increase in the median price in several cities like Belmont and Redwood City (as previously discussed) was due to an inordinate number of larger homes selling in October. This month, the opposite was true as the median size home sold was smaller than the median home in Belmont so it gives the appearance that the median home value dropped.
As seen in this graph, the price per square foot that the average Belmont home sold for was up—again due to smaller size homes selling (smaller homes … (0 comments)
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peninsula real estate: Buyers--Should I Stay or Let it Go? - 11/18/07 10:40 PM
Much of the current real estate media attention has been focused on foreclosures and sub-prime lending practices. The media's relentless impending doom stories have certainly rattled the nerves of the many would-be buyers. The question is should a buyer stay in the housing market hunt or let it go?
Buyers tend to fall into at least one of three groups; buyers who believe the market will go down and are waiting on the sidelines, ones who can no longer qualify for a loan due to tighter lending guidelines, and buyers who see the new opportunities to own a home.
The Buyers who … (2 comments)
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