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“Robo-Signing” Agreement Assists Some Homeowners – San Mateo CA

Mortgage lenders are in the news again and again but this time it’s just not only Freddie Mac and Fannie Mae in the hot seat. If you purchased a home using any of the following lenders like GMAC (now Ally Financial), Bank of America, JPMorgan Chase, or Citibank, you may want to take note. Last…Read More »

Resources for Avoiding Home Foreclosure: San Mateo County CA

Home ownership can become a heavy responsibility at times, especially like now, when times are tough. It can also be challenging to find help when things are difficult because of a decrease in, or loss of income, illness, unexpected disaster, unexpected major home repairs, or a personal crisis such as separation or divorce. Add to…Read More »

Are You Feeling Financially Squeezed? San Mateo,CA

You may be anxious about whether your lender is motivated to work out a solution with you. The reality is that lenders lose much less in a short sale or loan modification than they do in foreclosure. The cost of foreclosure may cost your lender up to 50% of the loan amount while a short sale could only cost them from 15-30%.

Short Sales. Bank Owned. Which is Better? San Mateo CA

We’re into the January gloom. Both in weather and in real estate. Our local market really starts coming to life the end of January and sometimes as late as right after Super Bowl Sunday. If you’re a serious buyer you already know most of what’s on the market right now is either a short sale or a bank owned property. If a new listing comes out and isn’t a short sale or bank owned it might be one soon, if they can’t get their price.

San Mateo County Foreclosures? Not Many. Not Yet.

Graph of Foreclosure Filings in San Mateo County

I thought it would be interesting to look at what’s going on in the foreclosure arena for our corner of the world. It’s looking like the clock is ticking for a lot of families and they will soon have to come to a hard reality about their housing needs. We aren’t seeing a ton of bank owned properties in the MLS yet, but the data here is telling us there are a lot of houses schedule for auction, where they become bank owned, and a lot receiving notices of default where the mortgage hasn’t been paid for several months.

It’s Crystal Ball Time – What’s the Market Doing in the San Mateo CA area?

We don’t really anticipate seeing many foreclosures this year because the banks are beginning to work with their customers to stave them off. This year will see short sales. The Alt-A loans are almost all gone and now what will be coming up are some loans that should affect our market. The people who purchased homes in the mid to late 2000′s and who took out ARMs of 5 or 7 years are going to see them resetting this year. If they reset now, they’ll reset for lower then the original rate for the first year only.

Have you missed a house payment? Do you need help? – Burlingame CA

Now is the time to educate yourself with the right information on each of your foreclosure-avoidance options. Formulate a plan, know your next steps and get back on track.

San Mateo County, Are You Wondering Why You Can’t Get Your Loan Modified?

Are you wondering why you can’t get your loan modified? Are you wondering why every time you call they can’t find your file? What about the voices of the people you’re talking with, do they have strong accents making it hard for you to sometimes understand them?

Year-end Look at Foster City CA Market

Over all Foster City is the healthiest market in our area. Prices are up and we’re seeing that there were 2 months where prices exceeded the list price. This is something we haven’t seen in several years. Foster City sits in a perfect location for commutes to bio-tech or hi-tech, east bay or the City.

Year-end Look at Hillsborough CA Market

We saw about 10% of the listings sell and it takes a long while for the listing to sell. The listings are seeing price reductions in most, but not all cases. The difference between the Median list price and the Median sold price is 23% so someone hasn’t figured it out yet and that’s the seller. Be patient and you’ll get your deal but be sure your house has been sold before even making an offer in today’s market.