How’s the market? The real estate market, that is. It’s great question and one I get quite often. It’s often from people thinking they can still get a deal, and who only listen to national news on TV or read it online or in national papers. Guess what? It’s GREAT!!! It’s recovered. It’s too late for bottom fishing. If you were, like most people, sitting on the fence waiting to get a great buy, well, you’re too late folks. San Mateo County has recovered and this wonderful chart shows what I’m talking about. The median price for a single family home in San Mateo County has moved back up into the stratosphere. Had you listened to me last year you would have bought well. Today, you buy at market.
The same thing has happened with the condo/townhouse market. It’s taken off. But, there are still bargain to be found with condos as this is where we’re still seeing foreclosures and short sales but generally in North County, meaning the Daly City areas. Prices are climbing. We’re seeing multiple offers on good properties, just like we’re seeing with single family homes.
Finally, compare the San Mateo County markets between single family houses and condo/townhouses and you instantly see what’s going on and where to put your money. If you can afford a single family house buy one. If not, pick a condo or townhouse in the community you want to live in and buy it. Prices are not going down and housing is the best place to put your money for either an investment or shelter.