rliYes, it’s been a while since I’ve updated what’s going on with Burlingame real estate.  If you’ve been driving around town, you are definitely seeing a lot of for sale signs so there’s no shortage of houses to pick from if you’re interested in buying here.  There are 86 homes on the market today. Prices are trending downward, as the average number of days they sit before going into contract is now 82, and half of all listings have seen price reductions.  Burlingame is still a strong Buyer’s Market and there are lots of houses to pick from.

Prices range from a low of $499,998 (believe me you don’t want this one) to a high of $6,500,000.  According to Altos Research, the median list price of all homes on the market last week was $1,237,500. Burlingame has fantastic public schools, a quaint downtown and charm galore.  It’s a desirable town to live in and with interest rates at historic lows, a good time to consider if you can qualify for a loan. We would be happy to talk further with you about your real estate needs, just click to contact us button and we’ll respond.

Today I’m introducing Zillow’s take on Burlingame as additional data for you.  I am always hearing clients talk about Zillow this and Zillow that.  They are getting much better with their data but they are not 100% accurate and you should never use them as the gospel for home values. They are only as accurate as the last sale in the neighborhood you’re interested in, so if you’re looking for data, ask your Realtor.  Alex and I are here for  more in-depth information on the market and the house you’re considering.  We know the markets, and the neighborhoods, and can provide the information you want and need to make an intelligent decision.

Here’s Zillow’s data.

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©2010 The Wilkas Group. All Rights Reserved.

If you’ve never seen a serious bicycle race in person, this Sunday will be your chance to see one up close and personal when the annual Burlingame Criterium race takes place in downtown Burlingame.  These racers are serious as they whiz by in high speed making fast turns around the track.  Incorporated in the Criterium is the 7th Annual Ryan Phua Memorial Kids Ride for children 12 and under to race on the same course the adults will use.  There is no charge for children to race but parents are being asked to make a donation to the Ryan Phua Memorial Fund which has been established through the Lance Armstrong Foundation, to fund cancer related programs in the Bay Area.

A Criterium is a closed bicycle race, generally less than 5K in length that leads to large groups of riders making tight turns and often seeing mishaps while doing so.  These races are timed making them very interesting to watch.  Downtown Burlingame offers just the right kind of site for this race and it’s really exciting to watch.

The races begin at 7 AM for the Elite 4  men, then on to the Elite 4 women at 7:50 AM.  The last race concludes at 1:30 PM.  The kids race is at 10:20 AM and lasts an hour.  This is serious racing, folks.  There are cash prizes for all except the children where they receive ribbons and there is no cost for their entry.  It’s too late to enter in advance but you can register the morning of the race beginning at 6 AM, and up to 20 minutes prior to each race.

This race has been around for a long time and attracts a large number of people watching it.  Parking is always difficult in downtown Burlingame, so you if plan on coming, check out the map below for ideas of where to park and be prepared to walk a few blocks.  The race track will be closed to pedestrian crossing unless there is a race Marshall there to assist people when and where to cross.  These cyclists are moving fast and we don’t want to see injuries take place because of careless people.  Listen to the directions you are given by the Marshall working the track and follow them.  You will have an exciting day of bicycle racing to see and it’s expected to be a picture perfect day for it, too.

Keep your parking south of Howard or north of Bellview and you should be fine.  If you’re planning on coming down for breakfast and then watching, be sure to expect longer than usual lines at the many breakfast places downtown.  The weather is anticipated to be warm so it should be perfect viewing weather for everyone.

©2010 The Wilkas Group. All Rights Reserved.

©2010 The Wilkas Group. All Rights Reserved.

The Burlingame Elementary School District has announced that they have 2 schools with over 900 API State Performance Index scores and 4 with over 800 API State Performance Index scores.  That’s fantastic Burlingame!!  Add to that the 2009-2010 California Business Roundtable Honor Awards that all 5 of the elementary schools received and Burlingame has something huge to be proud of.

Burlingame Intermediate School’s, otherwise known as BIS, Knowledge Masters Team ranks 3rd in the State of California and 47th out of 649 schools internationally.  Is there any wonder why Burlingame is one of the most coveted communities in the Bay Area?  Home values have held and are once again rising.

This is the time to consider making a move to Burlingame if you live some where else.  Top schools.  Beautiful weather.  Central to San Francisco or Silicone Valley.  Graceful homes.  All of this makes a fabulouso community for raising a family or just as a special place to hang your hat.

The Wilkas Group is here to assist you in finding just the right house to make yours.  Our knowledge and expertise of the area is available to assist you.  Give us a call or drop an email.

©2010 The Wilkas Group. All Rights Reserved.

Last week Altos Research reported that the city of Burlingame, California had 61 properties listed for sale.  That number has been steadily increasing each week so it’s a good time to find a house in Burlingame, if that’s your pleasure.  There are currently 10 short sales, too.  The Median priced house was $1,198,000 and we saw a price spread between the low of $529,900 to a high of $2,880,000.  What you get for the Median house is 3 bedrooms and 3 baths, a house that’s about 66 years old, is just around 2200 square feet and that sits on a 6000 foot lot.  You also get great schools and a beautiful community to live in.

Burlingame is a Buyer’s market and has been one for a long time.  This week saw a large number of new listings come out, something we haven’t seen in a long while.  There were 2 houses close escrow last week, and there are currently 23 houses in various levels of pending sale.  The market has heated up now that loans are available at this price level.  The overall price trend has been down from last year but we are still looking at the low million dollar range for a median sized house in Burlingame.

Now that we are in a Spring market, prices will likely move up as demand increases.  Will some of these houses that are currently on the market be short sales if they don’t sell?  It’s hard to tell right now.  My lender’s are seeing many people upside down in their mortgages, and Burlingame likely has their fair share of these people.  Whether one sells or holds out depends on the individual’s circumstances.  If they have an ARM resetting now, it’s resetting low so that can buy them a year if they’re employed.  But, if they’re among the huge number of people laid off, they will have no choice but to sell.

The question I am always being asked is “How’s the Market?” and if you look at the chart above you can see a snapshot of the Burlingame market from 2005 to today and clearly see the bubble.  A market that is balanced sits at 30.  A market above is a Seller’s market and below is a Buyer’s market. Clearly that’s where we sit today, in a Buyer’s market and with 61 houses to choose from, you should in theory find a good home.

The Wilkas Group is here to assist you in finding that house and turning it into your home.  You can find us by clicking on the “Contact Us” button on the left.  We’re here to help.

For more recent market data about Burlingame take a look at here.

©2010 The Wilkas Group. All Rights Reserved.