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.

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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 60. See more city of San Mateo real estate.
(all data current as of 2/11/2012)

$349,000 : 1758 Shoreview Av, San Mateo

2 beds, 1 full bath

Home size: 820 sq ft

Lot size: 6,100 sq ft
$525,000 : 3502 Martin Dr, San Mateo

2 beds, 1 full bath

Home size: 1,000 sq ft

Lot size: 6,790 sq ft
$478,000 : 1654 Wolfe Dr, San Mateo

4 beds, 2 full baths

Home size: 1,540 sq ft

Lot size: 5,300 sq ft
$399,000 : 1668 Taylor St, San Mateo

3 beds, 1 full bath

Home size: 1,190 sq ft

Lot size: 5,356 sq ft
$595,000 : 124 31st Av, San Mateo

2 beds, 1 full bath

Home size: 1,000 sq ft

Lot size: 5,720 sq ft
$549,000 : 1317 Claudia Av, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,670 sq ft

Lot size: 6,000 sq ft
$550,000 : 1709 Royal Av, San Mateo

3 beds, 2 full baths

Home size: 1,080 sq ft

Lot size: 6,426 sq ft
$559,900 : 508 Rand St, San Mateo

3 beds, 2 full baths

Home size: 1,420 sq ft

Lot size: 6,250 sq ft
$568,888 : 1855 Maxine Av, San Mateo

3 beds, 3 full baths

Home size: 1,500 sq ft

Lot size: 5,500 sq ft
$349,000 : 1409 Young St, San Mateo

2 beds, 2 full baths

Home size: 1,130 sq ft

Lot size: 6,100 sq ft
$997,000 : 775 Edgewood Rd, San Mateo

2 beds, 2 full baths

Home size: 1,369 sq ft

Lot size: 8,125 sq ft
$825,000 : 3985 Oneill Dr, San Mateo

5 beds, 3 full baths

Home size: 2,320 sq ft

Lot size: 5,000 sq ft
$599,900 : 3980 Oneill Dr, San Mateo

3 beds, 2 full baths

Home size: 1,750 sq ft

Lot size: 5,000 sq ft
$374,900 : 149 N Delaware St, San Mateo

2 beds, 1 full bath

Home size: 1,040 sq ft

Lot size: 5,750 sq ft
$524,900 : 177 Mclellan Av, San Mateo

3 beds, 1 full bath

Home size: 1,360 sq ft

Lot size: 6,250 sq ft
$379,000 : 28 Prague St, San Mateo

2 beds, 1 full bath

Home size: 930 sq ft

Lot size: 5,000 sq ft
$999,800 : 3045 Greenoak Ct, San Mateo

3 beds, 2 full baths

Home size: 1,826 sq ft

Lot size: 7,000 sq ft
$409,000 : 1216 S Norfolk St, San Mateo

4 beds, 2 full baths

Home size: 1,470 sq ft

Lot size: 5,000 sq ft
$447,500 : 1403 Bradley Ct, San Mateo

4 beds, 2 full baths

Home size: 970 sq ft

Lot size: 4,160 sq ft
$750,000 : 404 W 38th Av, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,800 sq ft

Lot size: 5,336 sq ft
$390,900 : 1297 Pershing Av, San Mateo

3 beds, 2 full baths

Home size: 1,360 sq ft

Lot size: 5,890 sq ft
$675,000 : 20 Grand Bl, San Mateo

2 beds, 1 full, 1 part baths

Home size: 1,070 sq ft

Lot size: 3,404 sq ft
$722,200 : 1740 Roberta Dr, San Mateo

3 beds, 2 full baths

Home size: 1,380 sq ft

Lot size: 9,300 sq ft
$399,000 : 1502 Mefferd Av, San Mateo

3 beds, 1 full bath

Home size: 1,310 sq ft

Lot size: 5,200 sq ft
$899,000 : 1616 Toyon Ct, San Mateo

3 beds, 2 full, 1 part baths

Home size: 2,310 sq ft

Lot size: 3,638 sq ft
$779,999 : 1665 Wellesley Av, San Mateo

4 beds, 3 full baths

Home size: 2,270 sq ft

Lot size: 5,750 sq ft
$519,000 : 1601 Noe Av, San Mateo

3 beds, 2 full baths

Home size: 1,080 sq ft

Lot size: 5,500 sq ft
$899,000 : 430 Highland Av, San Mateo

3 beds, 2 full baths

Home size: 1,510 sq ft

Lot size: 4,560 sq ft
$699,000 : 4004 Martin Dr, San Mateo

4 beds, 2 full baths

Home size: 1,690 sq ft

Lot size: 5,000 sq ft
$680,000 : 19 Hillbarn Ct, San Mateo

3 beds, 2 full baths

Home size: 1,480 sq ft

Lot size: 6,800 sq ft

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.

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