Home Buying in San Mateo>Question Details

housebuyer25, Home Buyer in San Mateo, CA

have house prices in the bay area stabilized? how about San Mateo?

Asked by housebuyer25, San Mateo, CA Tue Feb 21, 2012

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The market has taken off. We are seeing a historically low inventory with multiple offers and all cash offers with no contingencies, so in my opinion the market in San Mateo County in general is a seller's market and many buyers are feeling the frustration of not being able to buy their dream home from the first try!
0 votes Thank Flag Link Thu Apr 12, 2012
In general, now one can predict the exact location/position of the market. We all can see the tendency, based on facts. And the facts are coming from the available statistics, such as CMA, etc. In case you need info for a specific area, please contact me directly.
0 votes Thank Flag Link Mon Feb 27, 2012
As a follow up to what Glen said, I don't agree with those stats. Each area of each city should be evaluated, otherwise you are taking the sales from Shoreview and North Shorview with San Mateo Park, the Baywood
and Aragon neigborhoods and that will bring your average sale price down.

Seperate each area so it's apples to apples.

Tap
0 votes Thank Flag Link Wed Feb 22, 2012
If you are interested in statistics, according to the multiple listing service prices have dropped from an average of $919k last March to $825k in February 2012. They peaked in May 2012 at $1,013k and the low was January 2012 at $780k. Overall a slight decline with peaks in the summer months and bottoms in winter which would be considered typical. I can generate statistical numbers from cities, counties, longer time frame etc. If you have a specific request feel free to email me.

glenmitchell@remax.net

Thanks,
Glen
Web Reference: http://www.maui4rent.com
0 votes Thank Flag Link Wed Feb 22, 2012
Since November the market has taken off and are now on the upside and seeing multiple offers in the better areas.

Even the B and C neighborhoods are getting alot of attention from first time home buyers and investors. It's like someone hit the light switch. I think this has happpened for a few reasons.

The holidays shopping was the first sign that consumers felt it was OK to spend money again. The stock market has been on a good run, and lastly the cost of money is almost free at 4% when you take into account of the cost of living and inflation.

Another reason we are seeing a big push is many buyers were waiting on the sidelines trying to time the market and now many feel that- that time has come.

Cheers.

Tap
http://www.DavidTapper.com
http://www.TeamTapper.com
0 votes Thank Flag Link Wed Feb 22, 2012
Dear Housebuyer25,

House value is stable in San Mateo area. Only down a bit in winter time, but eventually pick up in summer time. Inventory is low, but still a lot of buyers out there, so expect multiple offers on a good property.
If you need help on house hunting, I am happy and ready to help!

Suena Suen, CDPE, GRI
REALTOR
0 votes Thank Flag Link Tue Feb 21, 2012
I would say, absolutely! My biggest peeve is that not even local media choose to accurately cover the peninsula market activity. Therefore I've choose to do so myself on the side. I bog market stats here: http://sanmateocountyrealestatenews.org/category/san-mateo-ca/

Hopefully this will help. Let me know if I can help further:)
0 votes Thank Flag Link Tue Feb 21, 2012
Hello,
Home prices in the bay area are pretty stable.Every year prices usually drop in the Winter and slowly begin to increase in the Spring and Summer months.Most buyers purchase in Spring and Summer.The prices are still considered low, however, most economists believe they were too heavily inflated a few years back in the real estate boom.If you have any further questions or would like info regarding a specific property feel free to call or email me.Best of Luck.

Sincerely,
Taj Weldon
650 - 262-0271
Real Estate Agent
DRE 01816152
Tywelldone@gmail.com
Imara Mortgage and Realty
Servicing San Mateo and Alameda County
0 votes Thank Flag Link Tue Feb 21, 2012
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