We are seeing incredible lending values. Historically low interest rates, in face, that can’t possibly stay like this very much longer. What happens when the Fed finally raises interest? Your affordability will diminish, that’s what will happen. Today you might be able to afford a home for $1.5 million at 4% interest but what happens when interest rises to 5%? Your affordability will drop and you might not be able to buy into Burlingame.
How’s the market doing? It’s a question we get often and one that doesn’t have a simple answer. It’s not necessarily good or bad, it depends. It depends on whether you want to buy, sell, invest, rent or are just curious to know if you home’s value has stopped dropping.
The market, she is a-changing. Last week Burlingame had 85 houses for sale and the average time they have been on the market is about 70 days. The inventory is increasing and so is the time it is taking to sell a property. There could be several reasons for this: One, being the difficulty in…Read More »