You are here: Burlingame Real Estate - The Wilkas Group »

Our Blog

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%.

Low Mortgage Rates Improve Household Economics: San Mateo CA

One score and 19 years ago, 7.63% was the rate on a 30 year fixed, conforming mortgage. Today, mortgage interest rates sit a four decade low.. The chart below shows the 30 year fixed, conforming interest rate history from 1971—since the Federal Open Market Committee (FOMC) has been tracking this rate—to September 2010.

Better Homes and Gardens-JF Finnegan Realtors Enters Burlingame, CA

Everyone knows the Better Homes and Gardens name from reading the magazine and watching the cable TV channel. We are excited to announce that we, too, are now part of the Better Homes and Gardens Real Estate ® family as our broker, John Finnegan, joins their real estate family. We’ve made a dramatic change without moving, changing contact information or meeting new colleagues. The entire Prudential family we used to belong to is now Better Homes and Gardens-JF Finnegan Realtors and we’re still in downtown Burlingame.

Buying a Bank Owned Property Can Be Bumpy Ride

My two sales each closed a day late. A colleague told me he had one close 2 weeks late and another told me of one that close a month late. This costs the buyer and in retrospect, the bank money. As a buyer of a bank owned property there is nothing, I repeat nothing you can do about the delay. The process for selling the property is complex and the bank divides the job into segments. The listing agent deals with someone called an Asset Manager. This person approves the contract, sends out the bank term sheet, negotiates with the buying agent and signs off on the process. Then someone else comes in. This is the un-named mystery man or woman who has control of the deed and HUD-1. They are the lynchpin in the process.

First Time Buyers, There’s Still Time to Get the $8000 Tax Credit if You Act Now: Foster City, CA

If you’ve been thinking about jumping into the real estate market and think that the $8000 tax credit might be helpful don’t wait any longer because unless Congress acts now to extent it, and yes there is rumor they might, you must act now to take advantage of it. Why? This credit ends on December 1, 2009.

Foster City Market Report 9.01.09: Foster City, CA

What matters is how the market is today and Foster City has moved upwards and is now a Warm Buyer’s Market and moving towards an equal market for buyers and sellers. This is GREAT NEWS! The Market Action Index places Foster City at 25. That line sitting at 30 is the divide between a Buyer’s Market and a Seller’s Market. We haven’t seen this in well over a year. What it means to the seller is the market is stabilizing.

What’s Your ROI on Remodels or Additions Around the San Mateo Area?

So, you’re looking at that house for the third time and saying, ‘it’s not quite right.” It needs a new…. And, then you ask me what does it cost to do….? You get the idea. Whether it’s a new kitchen, windows, bathroom, roof or an addition to make the house perfect for you and your…Read More »

It’s Official San Mateo County. The R Word Has Been Said. Will It Affect Us?

We’re in New York City right now attending the Inman Real Estate Connect where we’ve learned about what other real estate bloggers are doing and then what the big guys of the real estate industry are seeing from other parts of the county. Brad Inman, the man behind the great real estate news site online…Read More »

Is Something Changing?

There is a season for real estate just like a season for all things. The Fall generally sees a slow down in listings and sales as people begin to think of other things on weekends like football and fall sports. Last weekend’s open house saw a reduction in the number of people coming through and…Read More »

Points on a Loan: How Much is Too Much?

The question of what points are and whether to pay them is one that needs further explanation. What are they? They are additional upfront fees that you pay the lender for the opportunity to reduce your loan’s interest rate over the life of the loan. The fee for one point is equal to 1% of…Read More »