Thinking of Buying a Home? There’s Going to be a Cost in Waiting: San Mateo CA

lenorewilkas — Mon, 25 Jul 2011 17:12:04 +0000

I like to work with several lenders and it allows me to refer our clients to different personalities and companies. We generally prefer working with a loan broker who has access to many different loan programs, rather than having a bank as the lender. You are stuck if you chose a bank and they don’t have any good programs for you. You’re at their mercy. Look for loan brokers. They offer so much more to their clients.

Shashank Shekhar is one of my lenders of choice. He’s just done this little video to explain why there’s going to be a cost in waiting to buy a home if you’re still thinking things will drop in price. Believe me, in our part of the world, what I like to refer as Fantasy Island, don’t expect to see anything dramatic happen with prices. We just don’t have enough housing for the people who need it. That’s why prices remain higher than any other place in the Country.

Take a few minutes to listen to what he has to say. If you aren’t already pre-approved for a loan and want to buy, then do something about that now, before it costs you more by waiting. You can reach Shashank at Arcus Lending and his contact information is at the end of his video.

[/youtube]

Here’s what’s happening in the San Mateo real estate market. Contact us if you see something you like.

Showing properties 1 - 30 of 51. See more city of San Mateo real estate.
(all data current as of 5/25/2012)

$599,950 : 1512 Dix St, San Mateo

4 beds, 3 full baths

Home size: 1,800 sq ft

Lot size: 5,000 sqft
$658,000 : 1204 S Grant St, San Mateo

2 beds, 1 full bath

Home size: 1,010 sq ft

Lot size: 4,500 sqft
$975,000 : 35 Lundys Ln, San Mateo

3 beds, 2 full baths

Home size: 1,360 sq ft

Lot size: 12,320 sqft
$450,000 : 857 Ada St, San Mateo

3 beds, 1 full bath

Home size: 1,000 sq ft

Lot size: 5,000 sqft
$699,000 : 2129 Ensenada Wy, San Mateo

2 beds, 2 full baths

Home size: 1,710 sq ft

Lot size: 8,448 sqft
$575,000 : 1021 E 3rd Av, San Mateo

5 beds, 2 full baths

Home size: 2,330 sq ft

Lot size: 7,056 sqft
$499,000 : 224 Lindbergh St, San Mateo

3 beds, 1 full bath

Home size: 1,110 sq ft

Lot size: 4,400 sqft
$529,900 : 1759 Cottage Grove Av, San Mateo

3 beds, 1 full bath

Home size: 1,000 sq ft

Lot size: 5,250 sqft
$519,000 : 215 N Kingston St, San Mateo

2 beds, 1 full bath

Home size: 1,380 sq ft

Lot size: 5,000 sqft
$678,000 : 2915 Fernwood St, San Mateo

2 beds, 1 full bath

Home size: 1,060 sq ft

Lot size: 5,040 sqft
$650,000 : 1707 Eleanor Dr, San Mateo

3 beds, 2 full baths

Home size: 1,400 sq ft

Lot size: 5,000 sqft
$499,900 : 1644 S Norfolk St, San Mateo

3 beds, 2 full baths

Home size: 1,410 sq ft

Lot size: 5,814 sqft
$406,000 : 1016 Norton St, San Mateo

3 beds, 2 full baths

Home size: 1,110 sq ft

Lot size: 7,500 sqft
$499,000 : 3821 Edison St, San Mateo

2 beds, 1 full bath

Home size: 1,040 sq ft

Lot size: 5,490 sqft
$639,000 : 3659 San Benito St, San Mateo

3 beds, 1 full bath

Home size: 1,440 sq ft

Lot size: 5,000 sqft
$699,000 : 251 N Claremont St, San Mateo

2 beds, 3 full baths

Home size: 1,070 sq ft

Lot size: 5,175 sqft
$988,000 : 3421 Kettering Ct, San Mateo

3 beds, 2 full, 1 part baths

Home size: 2,450 sq ft

Lot size: 14,500 sqft
$479,000 : 1539 Lorraine Av, San Mateo

2 beds, 1 full bath

Home size: 930 sq ft

Lot size: 5,250 sqft
$895,000 : 3129 Monterey St, San Mateo

3 beds, 1 full, 1 part baths

Home size: 1,500 sq ft

Lot size: 5,225 sqft
$890,000 : 337 Greenfield Av, San Mateo

3 beds, 3 full baths

Home size: 2,540 sq ft

Lot size: 5,200 sqft
$348,000 : 228 N Humboldt St, San Mateo

2 beds, 1 full bath

Home size: 970 sq ft

Lot size: 4,000 sqft
$725,000 : 1009 Sunnybrae Bl, San Mateo

3 beds, 2 full baths

Home size: 1,640 sq ft

Lot size: 7,050 sqft
$749,000 : 409 E Bellevue Av, San Mateo

3 beds, 4 full baths

Home size: 1,900 sq ft

Lot size: 7,500 sqft
$499,000 : 405 Cavanaugh St, San Mateo

2 beds, 1 full bath

Home size: 910 sq ft

Lot size: 4,900 sqft
$475,000 : 132 Ottawa St, San Mateo

3 beds, 1 full bath

Home size: 1,140 sq ft

Lot size: 4,750 sqft
$699,000 : 952 E Grant Pl, San Mateo

5 beds, 2 full baths

Home size: 1,730 sq ft

Lot size: 4,750 sqft
$799,000 : 3528 Broadview Ct, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,780 sq ft

Lot size: 2,958 sqft
$998,000 : 640 42nd Av, San Mateo

4 beds, 3 full baths

Home size: 3,150 sq ft

Lot size: 11,000 sqft
$549,000 : 2352 Elliott St, San Mateo

3 beds, 2 full baths

Home size: 1,470 sq ft

Lot size: 5,800 sqft
$949,800 : 267 36th Av, San Mateo

3 beds, 2 full, 1 part baths

Home size: 2,020 sq ft

Lot size: 5,000 sqft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Using your $8,000 Tax Credit for your FHA Down Payment

lenorewilkas — Sat, 16 May 2009 00:04:41 +0000

San Mateo lender, Chris Williamson is contributing today’s lending tip. The government gave many first time buyers a gift this week and here’s the scoop…

Under the current Federal Stimulus Bill signed into law in February, Congress approved an $8,000 first time home buyer dollar for dollar tax credit. Until recently, this credit was not able to be used to assist with the buyer’s down payment. However, this week the Federal Housing Administration (FHA) announced a plan that will allow first time home buyers to get a bridge loan and use the $8,000 towards their down payment if they use an FHA insured government loan.

An FHA government insured loan has become more popular in the Bay Area because of its increased loan limits ($729,750 for a single family home) and low 3.5% down payment requirement. With the $8,000 bridge loan, which would come due when the home buyer received their tax refund next year, first time home buyers are required to put even less money down on a home. For example, a $400,000 purchase price requires $14,000 (or 3.5%) down payment with an FHA home loan. If you were to take advantage of the $8,000 bridge loan, you would only have to have a $6,000 down payment to become a home owner in 2009. This translates to a $62,800 gross annual income with today’s interest rates.

If you, a friend or family member would like to determine if this program is right for you, please contact me and we can examine your financial situation in more detail. If you want to find Chris, he’s with Mortgage California in San Mateo.

First time buyers shopping for a single family home or condo in the San Mateo-Foster City area have much to choose from today. We would be happy to talk with you about your wants and needs and help you make them a reality. Just click the “Contact Us” button on the left and send us your message.

Burlingame Real Estate - The Wilkas Group » San Mateo lenders

Thinking of Buying a Home? There’s Going to be a Cost in Waiting: San Mateo CA

Using your $8,000 Tax Credit for your FHA Down Payment