Foster City, like the other local communities we write about, doesn’t have a lot of housing for sale. Therefore, the rule of supply and demand takes over and prices stay high, and are going higher. Foster City is a planned community with both single family houses and condos and townhouses for sale. We will see the data for both since the beginning of the year. What makes Foster City so compelling for families is the excellent schools, plethora of parks and trails, and access to water for boating, sailing or sailboarding. It’s helps that Foster City is mid-way on the Peninsula at the crossroad of Highway 101 and 92 where the San Mateo-Hayward Bridge hits ground. It’s a nice commute for anyone living here.
Last month we saw some activity in real estate, but not a large number of homes for sale. I can’t quite figure it out since interest is so low today and many of the homes can be purchased with conforming loans or jumbo-conforming loans through FHA if one wants. The cap on these loans is going up very soon and we won’t see affordability like this again. It’s not something one wants to hear, but if you’re one of those people thinking the market will surely drop, again. It won’t unless something huge happens. You missed the bottom of the market and when interest rates increase as they will, you might be priced out of the market. So don’t wait! We’re here to help you.
Here’s what’s for sale in Foster City right now. First will be the single family homes, and then followed by the condo/townhouses. We would be happy to show you some of these in person if you’re ready to buy. Call us.
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