Burlingame Real Estate - The Wilkas Group » San Mateo real estate

Americans Still Prefer Buying a Home to Renting – San Mateo CA

lenorewilkas — Fri, 11 May 2012 15:04:02 +0000

Owning a home still has more appeal than renting for Americans, according to Fannie Mae. A sign of stability, safety, family and community, home ownership is an essential component of the “American Dream” of success and happiness and has been for many generations. The recent National Housing Survey (Q4, 2011) conducted by Fannie Mae found that this is still true.

The majority of those surveyed (at all education and demographic levels) still believe that owning a home is preferable to renting. The study, conducted from over 3,000 interviews, also showed that 64% of the renters surveyed planned on a future home purchase. Most of the survey participants listed high-ranking schools and safety as prime concerns when considering the location of that future home.

About 34% of those interviewed felt that “now” is a very good time to buy a home, but only 5% felt it was very likely that they would be purchasing a home in the next 12 months. The majority of survey participants (53%) felt that the housing market was likely to stay the same in the next year, but nearly all realized that the possibility of rental prices decreasing was unlikely. In fact many of those surveyed recognized the possibility of rental prices increasing, with 43% believing rents would increase and 47% believing they would stay the same. The majority of the respondents listed income, amount of down payment or job security as the largest obstacle to home ownership.
Click here to review the entire survey.

Here’s what’s for sale in San Mateo right now.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

2012 – An Affordable Time to Buy a Home in Burlingame CA

lenorewilkas — Sun, 11 Mar 2012 15:44:03 +0000

A combination of historically low mortgage rates and corrections in home pricing are resulting in the most affordable home market in two decades in San Mateo County. This is great news for home buyers if you are able to qualify for a loan. Stricter guidelines and qualifications make getting a home loan more challenging. Potential buyers must work with a highly qualified lender to determine their ability to buy a home before setting out to look in person.

The National Association of Home Builders (NAHB) and Wells Fargo Housing Opportunity Index (HOI) report that nearly 76% of new and existing homes sold in the last quarter of 2011 could have easily been purchased by buyers earning $64,200 (the national median income). The previous quarter showed nearly 73% of homes in that range, marking a 3% increase. Obviously this figure isn’t what we’re seeing in our home territory, mid-San Mateo County. We are seeing home prices beginning to move up once again because of a shortage of homes for sale in our immediate area and income needed to buy these homes is well above the national median.

Here are some stats just about San Mateo County and specifically from Burlingame to Foster City. Hold on to your hat because the pictures are pretty but the data is alarming once it’s explained to you.

Let’s start with inventory right now in the first two and half months of 2012. Real estate is often spoken about in absorption rates or the number of homes for sale versus the number of days it takes to sell them. Right now we have 3.5 months of inventory on the market in our four cities. That means if no other homes were listed it would only take 3.5 months to absorb these homes leaving nothing for anyone else by mid-June. Those are not healthy numbers because there are far more people looking to buy a home in our area today than there are homes to buy. That means prices rise but it may not mean that they appraise because the market moves up without comparison houses for the appraiser to use. This chart shows only 820 house for sale during this time. If you’re thinking of listing your home for sale, now is the time to do it, for this reason alone.

Here’s what it’s looked like the past 3 years when we were hearing almost daily that there was a flood of homes for sale. Not necessarily the case when you drill down to local levels.

The highest inventory of homes for sale in our four cities between January 2009 and today was in February 2009 with 6.8 months of inventory and the lowest, December 2009 with only 2 months. So you say, where’s the hidden inventory we keep reading about in the press? I don’t know. I’m not sure it really exists here, although I’m sure there is some. Here’s the chart showing you the data where it’s easier to read and you can see for yourself.

This data came from our local Multiple Listing Service so it is market specific. Interest rates have been at record lows and change weekly on 30-year loans with Freddie Mac reporting an average of 3.87%. 15-year loans were averaging 3.16%.

Click on The NAHB/Wells Fargo Housing Opportunity Index: History of Least and Most Affordable Areas spreadsheet located here to download the list of historical data on the most and least affordable areas in our community or browse their website to learn more.

Here are the average sale prices for homes in Burlingame, Hillsborough, San Mateo and Foster City during the past 12 months. This is our reality and it’s very different than the rest of the State of California or the entire US. It’s not going to change from the look of things.

Here are some homes for sale in Foster City right now.

Showing properties 1 - 5 of 9. See more city of Foster City real estate.
(all data current as of 5/25/2012)

$875,000 : 290 Curlew Ct, Foster City

4 beds, 2 full baths

Home size: 1,810 sq ft

Lot size: 6,746 sqft

Year built: 1965
$899,000 : 1390 Ribbon St, Foster City

3 beds, 2 full baths

Home size: 1,860 sq ft

Lot size: 6,175 sqft

Year built: 1966
$949,000 : 261 Loon Ct, Foster City

4 beds, 3 full baths

Home size: 2,450 sq ft

Lot size: 5,429 sqft

Year built: 1966
$890,000 : 188 Flying Cloud Is, Foster City

3 beds, 2 full baths

Home size: 2,120 sq ft

Lot size: 7,740 sqft

Year built: 1966
$1,295,000 : 643 Matsonia Dr, Foster City

4 beds, 2 full, 1 part baths

Home size: 2,430 sq ft

Lot size: 6,612 sqft

Year built: 1972

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

Here are some homes for sale in San Mateo right now.

Showing properties 1 - 5 of 72. 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

Year built: 1954
$1,699,961 : 766 27th Av, San Mateo

4 beds, 3 full, 1 part baths

Home size: 3,000 sq ft

Lot size: 7,860 sqft

Year built: 1948
$1,198,000 : 554 Maple St, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,970 sq ft

Lot size: 5,671 sqft

Year built: 1950
$658,000 : 1204 S Grant St, San Mateo

2 beds, 1 full bath

Home size: 1,010 sq ft

Lot size: 4,500 sqft

Year built: 1946
$975,000 : 35 Lundys Ln, San Mateo

3 beds, 2 full baths

Home size: 1,360 sq ft

Lot size: 12,320 sqft

Year built: 1959

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

Here are some homes for sale in Hillsborough right now.

Showing properties 1 - 5 of 63. See more city of Hillsborough real estate.
(all data current as of 5/25/2012)

$2,995,000 : 10 Hampton Ct, Hillsborough

6 beds, 4 full, 1 part baths

Home size: 4,080 sq ft

Lot size: 28,050 sqft

Year built: 1978
$2,680,000 : 500 Pepper Av, Hillsborough

3 beds, 2 full, 1 part baths

Home size: 2,840 sq ft

Lot size: 22,244 sqft

Year built: 1953
$4,449,999 : 25 Miranda Ct, Hillsborough

4 beds, 5 full baths

Home size: 5,172 sq ft

Lot size: 30,318 sqft

Year built: 1980
$1,776,000 : 175 Ridgeway Rd, Hillsborough

5 beds, 3 full, 1 part baths

Home size: 4,840 sq ft

Lot size: 15,246 sqft

Year built: 1978
$3,750,000 : 100 Chateau Dr, Hillsborough

5 beds, 5 full, 2 part baths

Home size: 4,890 sq ft

Lot size: 26,571 sqft

Year built: 1991

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

Burlingame listings are seen to the right of this post. We’re here to talk to you about your specific real estate needs and you can reach us online or by phone.

The 2011 San Mateo Real Estate Market Report

lenorewilkas — Wed, 18 Jan 2012 08:34:24 +0000

The city of San Mateo is the largest city in our immediate area and has the most number of homes for sale during any one year. The 2011 San Mateo Real Estate market saw 596 single family homes sold. The average days on the market for these houses to sell was 56. Not bad considering the news reports we hear and read daily tell us about nightmares in other parts of the county. Who do you want to listen to? The news or me, your local eyes and ears on the ground in our area? That should be no brainer, folks!

The median price for a San Mateo house selling in 2011 was $805,138. That’s for the city of San Mateo not the county. The median price for all of California homes sold in December 2011 was $304,770. The 2011 statewide median prices haven’t been published yet, but this is a good number for comparison. San Mateo County is unique to California. It’s unique to the US housing market. It is not what you are hearing about on television, from the radio, on the internet or in print whether that’s a newspaper or magazine.

The average price of a housing being listed in San Mateo was $839,380
The average list price, which is the last price in the MLS when an offer comes in was $819,414
The average sale price was $807,135.
The most expensive sale in 2011 was $3,330,000
The least expensive sale in 2011 was $257,250.
The sales prices were averaging between 96% and 99% of the list price.

Why is this happening here and not other places in California? There are a couple of reasons. San Mateo County has little land for housing but lots of vacant land. It’s built out and sits between San Francisco and Santa Clara Counties. We have a vibrant tech community and businesses are generally doing well. There is a shortage of housing here, and always has been. If you want to live here you pay more to do so.

The condo market in San Mateo is large and prices vary significantly from entry level to luxury for people down sizing. There were 317 condos or townhouses sold in 2011 in San Mateo. Because of the way the Multiple Listing Service combines townhouses with condos, not everything is truly a condo in the 317 count. Many of these may also be townhouses that sit on land that is owned by the homeowner and not part of a condo community.

It took an average of 102 days to sell one of these homes (condos and townhouses). This is considerably longer than other communities in our area and that’s likely due to the shear number in the city as well as the larger number of entry level units. Condos generally take longer to sell in comparison to either townhouses or houses.

The average price was $389,705 and the median price was $340,000
The most expensive condo was $1,378,000 and there were 2 others that sold for over a million dollars
There were 5 that sold between $800,000 and $1 million
The average sold price for the city was $390,263
The sales prices were between 92% and 96% of list price but we did see some sell above asking price

We’re here to tell you more about our local real estate market and tell it like it really is. Are there bargins out there? Well, if you search hard enough, you do see a few. We are seeing short sales but there are few bank owned out there and when the bank owned properties do come on the market the banks are now fixing them up and pricing them at market price. It’s very hard to find a real deal in our area. It’s not something you can do without the help of a seasoned Realtor so give us a call and talk with us about your wants and needs and let us help you.

Above all else, you must be pre-approved before starting your buying process. The banks are making everyone jump through hoops so be prepared and be ready.

Here some of the current houses for sale in San Mateo

Showing properties 1 - 5 of 72. 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

Year built: 1954
$1,699,961 : 766 27th Av, San Mateo

4 beds, 3 full, 1 part baths

Home size: 3,000 sq ft

Lot size: 7,860 sqft

Year built: 1948
$1,198,000 : 554 Maple St, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,970 sq ft

Lot size: 5,671 sqft

Year built: 1950
$658,000 : 1204 S Grant St, San Mateo

2 beds, 1 full bath

Home size: 1,010 sq ft

Lot size: 4,500 sqft

Year built: 1946
$975,000 : 35 Lundys Ln, San Mateo

3 beds, 2 full baths

Home size: 1,360 sq ft

Lot size: 12,320 sqft

Year built: 1959

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

Here are some of the current condos or townhouses for sale in San Mateo

Showing properties 1 - 5 of 47. See more city of San Mateo real estate.
(all data current as of 5/25/2012)

$470,000 : 2283 Vista Del Mar, San Mateo

2 beds, 2 full baths

Home size: 1,211 sq ft

Year built: 1986
$275,000 : 821 N Humboldt St #306, San Mateo

1 bed, 1 full bath

Home size: 693 sq ft

Year built: 1965
$299,000 : 1705 Palm Av #7, San Mateo

1 bed, 1 full, 1 part baths

Home size: 802 sq ft

Year built: 2007
$435,000 : 876 Wharfside Rd, San Mateo

1 bed, 1 full, 1 part baths

Home size: 1,150 sq ft

Year built: 1979
$369,000 : 815 N Humboldt St #414, San Mateo

2 beds, 1 full bath

Home size: 903 sq ft

Lot size: 24 sqft

Year built: 1965

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

Tick Tock Change Your Clock, San Mateo CA

lenorewilkas — Sat, 05 Nov 2011 14:00:07 +0000

If you have clocks that made a time change last Sunday like ours did, you’re not alone. Congress pushed the date for the end of Daylight Savings time by a full week but neglected to tell the tech companies around the world. Volia, we have our clocks telling us the time is an hour earlier than it really is. Or has been. That’s about to change. Tick Tock, the clocks change this tonight, or tomorrow (Sunday) morning which ever way you work. Either change them before you go to bed or when you get up but be consistent.

Have you counted how many clocks you have to change on Sunday? I bet it’s more than 10. From your watches to your clock radio to your car clocks, we have loads of them. In our kitchen alone, we have 5 clocks to change! Add in watches, the timer on the lights and the other clocks sitting around and it take us quite a while.

Don’t forget that this is a great time to change the batteries in your smoke detectors. This is one of the most critical batteries you can have in your home. You want it to work without fail so take a few minutes and replace the battery. Your family and your life may thank you for being diligent about that.

Why don’t they just leave the clock set at one time for the entire year? Good question. Ask your Representative in Congress about that. They obviously have nothing else to do.

Market Report – San Mateo CA – 10.05.2011 Single Family Homes

lenorewilkas — Wed, 05 Oct 2011 15:41:26 +0000

San Mateo is the second largest city in San Mateo County, and as such is quite diverse. There is housing at entry level prices and housing at executive level pricing which is the same as one might pay to live in Hillsborough or Burlingame. There are 91,601 on people in San Mateo according to the 2010 census and lots of housing to select from.

San Mateo sits right between San Francisco and San Jose making it the perfect commuter location for couples working in opposite communities. It’s near 101 and 280, 92 takes you to the coast or across the bay to Hayward and beyond. Weather that’s temperate and a community that offers much to be desired. Take a look at what San Mateo offers.

Here’s the latest market report for single family housing. I’ll present the report for condos and townhouses separately.

90-day stats for Single Family properties in SAN MATEO, CA as of May 18, 2012
Median List Price:	$637,398	Average List Price:	$750,477
Total Inventory:	137	Price per Square Foot:	$446
Average Home Size:	1,466	Median Lot Size:	5,477
Average # Beds:	3.20	Average # Baths:	2.07
Homes Absorbed:	19	Newly Listed:	17
Days on Market:	98	Average Age:	63

If you’re looking to buy a home in San Mateo here are some of the current listings. If you are not represented by an agent please contact us to assist you. Don’t think that by working the the listing agent you’ll get a better deal because you can’t and won’t. No agent worth their salt will be able to represent both sides of a transaction ethically so do your self a favor and use your own agent to represent your best interests.

Showing properties 1 - 35 of 72. 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
$1,699,961 : 766 27th Av, San Mateo

4 beds, 3 full, 1 part baths

Home size: 3,000 sq ft

Lot size: 7,860 sqft
$1,198,000 : 554 Maple St, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,970 sq ft

Lot size: 5,671 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
$1,089,000 : 426 Heather Ln, San Mateo

3 beds, 2 full baths

Home size: 1,480 sq ft

Lot size: 6,500 sqft
$1,368,000 : 500 Castilian Wy, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,650 sq ft

Lot size: 5,350 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
$2,195,000 : 525 Fairfax Av, San Mateo

4 beds, 4 full, 1 part baths

Home size: 3,500 sq ft

Lot size: 7,680 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
$1,200,000 : 816 Crescent Av, San Mateo

4 beds, 1 full, 1 part baths

Home size: 2,540 sq ft

Lot size: 8,500 sqft
$1,328,800 : 838 Overlook Ct, San Mateo

4 beds, 2 full, 1 part baths

Home size: 2,270 sq ft

Lot size: 13,200 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
$1,099,000 : 212 Woodbridge Ci, San Mateo

4 beds, 3 full baths

Home size: 2,660 sq ft

Lot size: 6,893 sqft
$2,348,000 : 262 Virginia Av, San Mateo

4 beds, 3 full, 1 part baths

Home size: 2,800 sq ft

Lot size: 11,760 sqft
$1,487,000 : 613 Oregon Av, San Mateo

4 beds, 3 full baths

Home size: 2,540 sq ft

Lot size: 6,000 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
$1,239,000 : 3740 Hacienda St, San Mateo

5 beds, 5 full baths

Home size: 3,140 sq ft

Lot size: 7,344 sqft
$499,000 : 405 Cavanaugh St, San Mateo

2 beds, 1 full bath

Home size: 910 sq ft

Lot size: 4,900 sqft

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

April 2011 Market Report: San Mateo CA

lenorewilkas — Wed, 11 May 2011 16:44:49 +0000

San Mateo is the 2nd most populous city in San Mateo County with around 97,000 residents. What goes along with the size of the city is the dramatic difference in housing and prices. From entry level houses to huge estate sized homes, one can find almost anything in their price range. There’s a large assortment of condos, a sprinkling of townhouses, and lots and lots of single family houses, many built after WWII. Central in the county it’s a great commute location for north or south cities on the Peninsula.

The housing market has improved over the past year, which is great news for current homeowners and people looking to buy today. Altos Research showed that last week prices had a dramatic spread, from a low of $249,000 to a high of $3.8 million. Believe me when I tell you that $249,000 house is tiny and in a rather bad location, but it’s a stand alone house built in the 1930′s when it once was a darling home.

Here’s the snapshot of last week’s condo and townhouse listings in San Mateo. Like the houses, prices vary dramatically from a studio apartment to a glamorous high rise condo with views forever.

Here’s the MLS report I’m doing this year for San Mateo. The market is warming up and prices are too. San Mateo County has a housing shortage and rentals are being snapped up and rents are rising dramatically. If you think you can’t afford to buy you may be surprised that you can. We can help you figure that out pretty quickly. Why pay someone else’s mortgage when you can take advantage of the tax advantages home ownership offers?

Here’s some of what’s available for sale in San Mateo today. If you see something you want more information about please call us or drop us an email. We’ll be happy to get you more info and show it to you.

Showing properties 1 - 30 of 128. 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
$1,699,961 : 766 27th Av, San Mateo

4 beds, 3 full, 1 part baths

Home size: 3,000 sq ft

Lot size: 7,860 sqft
$1,198,000 : 554 Maple St, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,970 sq ft

Lot size: 5,671 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
$1,089,000 : 426 Heather Ln, San Mateo

3 beds, 2 full baths

Home size: 1,480 sq ft

Lot size: 6,500 sqft
$470,000 : 2283 Vista Del Mar, San Mateo

2 beds, 2 full baths

Home size: 1,211 sq ft
$1,368,000 : 500 Castilian Wy, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,650 sq ft

Lot size: 5,350 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
$583,000 : 2319 Armada Wy, San Mateo

2 beds, 2 full, 1 part baths

Home size: 1,223 sq ft
$575,000 : 1021 E 3rd Av, San Mateo

5 beds, 2 full baths

Home size: 2,330 sq ft

Lot size: 7,056 sqft
$445,000 : 845 Highland Av #2, San Mateo

2 beds, 1 full, 1 part baths

Home size: 1,336 sq ft
$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
$2,195,000 : 525 Fairfax Av, San Mateo

4 beds, 4 full, 1 part baths

Home size: 3,500 sq ft

Lot size: 7,680 sqft
$275,000 : 821 N Humboldt St #306, San Mateo

1 bed, 1 full bath

Home size: 693 sq ft
$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
$299,000 : 1705 Palm Av #7, San Mateo

1 bed, 1 full, 1 part baths

Home size: 802 sq ft
$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
$435,000 : 876 Wharfside Rd, San Mateo

1 bed, 1 full, 1 part baths

Home size: 1,150 sq ft
$369,000 : 815 N Humboldt St #414, San Mateo

2 beds, 1 full bath

Home size: 903 sq ft

Lot size: 24 sqft
$849,000 : 111 Saint Matthews Av #307, San Mateo

3 beds, 2 full baths

Home size: 1,801 sq ft
$248,000 : 2425 S Norfolk St #306, San Mateo

1 bed, 1 full bath

Home size: 690 sq ft
$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

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

Are You Feeling Financially Squeezed? San Mateo,CA

Alexander Wilkas — Tue, 29 Mar 2011 05:43:16 +0000

How to Escape the Grip of Foreclosure

No one wants to be in the situation of losing their home because of a mortgage interest rate reset. The reality is that millions of Americans across the country are struggling with unaffordable mortgage payments, and more than ever lenders are motivated to work with homeowners to come to a resolution. We can help advise you of your options and show you how to create a strategy that will loosen the hold that foreclosure has on your future.

You have options

When you began struggling with your mortgage payments, you may have felt that you had no way out of the situation, but you actually have many different options. We will guide you through the process of finding which option is best for you. By discovering and acting on your options, you’ll have the leverage to escape the grip of foreclosure.

Your Foreclosure Alternatives Include:

Short Sale
Reinstatement
Forbearance or Repayment
Mortgage Modification
Rent the Property
Deed-in-Lieu
Bankruptcy
Refinance
Service members Civil Relief Act
Sell the Property

Relieve the Stress

When you owe more on your home than it’s worth, and are struggling to make payments, the pressure you feel can go through the roof! If you are in a situation where your expenses exceed your income, have a verifiable financial hardship, and no other assets to pay off the balance of your mortgage, you may qualify for a loan modification or short sale.

We can help relieve the burden of an overwhelming mortgage by showing you ways to execute a dignified solution.

Do You Qualify For A Short Sale?

Do you have…

Financial Hardship: severe illness, military service, insurance or tax increase, etc. (Ask us for a full list of acceptable hardships)
Monthly Shortfall: business failure, job loss wage reduction, divorce, etc.
Insolvency: you currently owe more money than you have, or you are about to reach that point

If you answer YES to the above questions, you may qualify.

Calm your fears!

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%.

What Does It All Mean?:

SHORT SALE
A short sale is when the lender agrees for the property to be sold at a price lower that the mortgage balance owed.

DEED-IN-LIEU
A deed-in-lieu is when the lender receives the house deed in place of the mortgage balance, although in some cases the lender will still pursue the homeowner for the leftover mortgage balance, which is called a deficiency judgement.

A short sale or deed-in-lieu through the government’s (HAFA) Home Affordable Affordable Alternative Project prohibits the participating lender from pursuing a deficiency judgment.

SHORT SALE BENEFITS
The financial implications of short sales are always less severe that the implications of foreclosure. Your credit score, credit history, employment applications, and future chances of acquiring a loan are all benefit from completing a short sale rather than being foreclosed upon.

Our job is to facilitate cooperation and communication between you and your lender and work toward the best solution for everyone. Knowing this should help you breathe a little easier when starting this process.

Call Us Today!

We know that you are grappling with unfortunate circumstances, and dealing with all the emotions that come with it. We are trained to guide you through this process, help you to restore hope, and empower your future. You are not alone in this situation.

We Are (CHS) Certified HAFA Specialists, (CDPE) Certified Distressed Property Experts) and (SFR) Short Sales & Foreclosure Resource Specialists.

We are here to help.

How’s the Market in San Mateo – 2.4.11?

lenorewilkas — Fri, 04 Feb 2011 18:21:28 +0000

San Mateo is the largest city in our County with over 90,000 people and of course that means the most houses. Hold your hats here, we’re talking about over 25,000 homes just in San Mateo and they offer the greatest spread of prices, too. From entry level condos and houses to homes as grand any many in Hillsborough. The chart above shows price verses inventory (number of homes for sale) for all of 2010 and January of 2011. There’s a tiny uptick in price in January, which is to be expected since the end of the year is always when prices decline significantly because the homes for sale during the holidays are the ones that must be sold for a multiple of reasons.

Since I’m starting a monthly trending of what’s happening in the city for both houses and condos, here’s the January snapshot. I can drill down to neighborhoods for anyone who wants more information but you’ll have to ask me for that. The average price for a home in San Mateo is $761,599 and for a condo or townhouse is $465,421.

Here is what took place from the first of the year. There were 109 single family homes for sale and 126 condos or townhouses. We saw 81 homes and 49 condos or townhouses go into contract and becoming pending sale. Only 9 homes closed escrow in January and 1 condo or townhouse closed. This isn’t a worrisome amount because they were under contract at the end of 2010, the slowest period of real estate in the year.

Here’s a snapshot of what’s for sale in San Mateo now. First will be homes then will be condos. If you see anything you like give us a call at 650-696-2820 for a showing,.

Showing properties 1 - 15 of 72. 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
$1,699,961 : 766 27th Av, San Mateo

4 beds, 3 full, 1 part baths

Home size: 3,000 sq ft

Lot size: 7,860 sqft
$1,198,000 : 554 Maple St, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,970 sq ft

Lot size: 5,671 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
$1,089,000 : 426 Heather Ln, San Mateo

3 beds, 2 full baths

Home size: 1,480 sq ft

Lot size: 6,500 sqft
$1,368,000 : 500 Castilian Wy, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,650 sq ft

Lot size: 5,350 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
$2,195,000 : 525 Fairfax Av, San Mateo

4 beds, 4 full, 1 part baths

Home size: 3,500 sq ft

Lot size: 7,680 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

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

Showing properties 1 - 15 of 56. See more city of San Mateo real estate.
(all data current as of 5/25/2012)

$470,000 : 2283 Vista Del Mar, San Mateo

2 beds, 2 full baths

Home size: 1,211 sq ft
$583,000 : 2319 Armada Wy, San Mateo

2 beds, 2 full, 1 part baths

Home size: 1,223 sq ft
$445,000 : 845 Highland Av #2, San Mateo

2 beds, 1 full, 1 part baths

Home size: 1,336 sq ft
$275,000 : 821 N Humboldt St #306, San Mateo

1 bed, 1 full bath

Home size: 693 sq ft
$299,000 : 1705 Palm Av #7, San Mateo

1 bed, 1 full, 1 part baths

Home size: 802 sq ft
$435,000 : 876 Wharfside Rd, San Mateo

1 bed, 1 full, 1 part baths

Home size: 1,150 sq ft
$369,000 : 815 N Humboldt St #414, San Mateo

2 beds, 1 full bath

Home size: 903 sq ft

Lot size: 24 sqft
$849,000 : 111 Saint Matthews Av #307, San Mateo

3 beds, 2 full baths

Home size: 1,801 sq ft
$248,000 : 2425 S Norfolk St #306, San Mateo

1 bed, 1 full bath

Home size: 690 sq ft
$247,000 : 1 Baldwin Av #515, San Mateo

1 bed, 1 full bath

Home size: 800 sq ft
$429,000 : 1632 Vista Del Sol #7, San Mateo

2 beds, 2 full baths

Home size: 1,070 sq ft
$265,000 : 3050 Los Prados St #9, San Mateo

2 beds, 2 full baths

Home size: 900 sq ft
$599,500 : 1113 Yates Wy, San Mateo

2 beds, 2 full, 1 part baths

Home size: 1,254 sq ft
$719,000 : 13 Tollridge Ct, San Mateo

3 beds, 2 full, 1 part baths

Home size: 1,920 sq ft

Lot size: 1,260 sqft
$230,400 : 711 S Bayshore Bl #7, San Mateo

2 beds, 1 full bath

Home size: 740 sq ft

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

Where’s the Market Trending? San Mateo, CA – 02.22.10 Single Family Homes

lenorewilkas — Mon, 22 Feb 2010 21:13:33 +0000

The City of San Mateo is the largest housing market in our immediate area. With a population just under 100,000 (or more once the census is completed) there is a wide variety of houses to choose from. It offers a good selection of entry level homes, and has one of the prettiest areas with executive homes in the County, San Mateo Park. Prices have come down significantly in some parts of the city, and while they’ve dropped some in other areas, they are now moving upwards again. Those areas include The Park, Baywood, Baywood Knolls and Aragon, where the largest homes are in the city. These areas also garner significantly higher prices then other parts of the city.

San Mateo is a great place to live with a large downtown that draws people at all hours. The Central Park sits at the edge of downtown and has one of the largest Japanese Gardens in the State as well as many areas for play and leisure.

This chart shows what’s happening with the single family housing market today versus 4 years ago. Click on the numbers at the left of the chart to see the historical data, which is really interesting. This chart clearly shows how little inventory in housing we have right now. This is why we are seeing multiple offers in certain price points. We think there will be many more housing coming on the market this spring since there must be a lot of people out there unable to refinance their ARMs that are coming due later this year. If and when this happens expect to see prices remain flat. Right now, although it is a Buyer’s Market, that can’t last long without inventory.

Where’s the Market Trending? San Mateo, CA – 02.17.10 Condos & Townhouses

lenorewilkas — Wed, 17 Feb 2010 09:15:42 +0000

Since San Mateo is a large and diverse city, there are options in buying a home besides a house within the city. Condos and townhouses are sprinkled around the city allowing for one to buy something better fitting their budget and needs. The condo and townhouse market is pretty vibrant in San Mateo. Condos are often the purchase choice of people downsizing from houses so many of them attract senior citizens. The most luxurious condos are just west of downtown and some offer fantastic views of the bay and City. There is a huge development near the Bay east of 101, with some sitting along the water. The biggest townhouse development is just west of the College of San Mateo in the hills off of Highway 92. Other smaller developments are closer to the downtown area and some near Burlingame.

There is a good selection of condos and townhouses in San Mateo. When you play with the chart by clicking the the numbers at the top left, you can see the past 3 years and see exactly when we were at the peak of the bubble, and how things have fared since. I think you’ll have fun with this one.

The Wilkas Group has a great deal of experience is helping buyers and sellers of condos and townhouses. We make certain that our clients only buy properties in well managed communities. Today there are a lot of problems with some condo communities in the County and we anticipate seeing some major issues coming down the road because of this. If you are thinking about buying a condo or a townhouse you need to have a Realtor who knows what to look for to avoid problems for you. If you have questions about this just click on the “contact us” button on the left. We’ll be back to you either by email or phone, your choice. It’s our job to help you with your purchase and sale to avoid problems.