Jeanne_brode, Home Buyer in Millbrae, CA

All things being equal, which home has a higher re-sale value--one in Mills Estates in Millbrae or one in Mills Estates in Burlingame?

Asked by Jeanne_brode, Millbrae, CA Fri Aug 12, 2011

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Good question. The properties in Burlingame tend to run a but higher then Millbrae; however, the question is a little tricky, as I would think you are interested in net profit or appreciation over some period of time, and that would determined by your original purchase price.

All things being equal, a 10% gain on a $2,000,000 homes is greater then a 10% gain on a $1,000,000, right?

The catch; however, is how and what you do with the gain. If you were just selling, and walking away with your profit, great.

Millbrae and Burlingame are both great.
0 votes Thank Flag Link Thu Aug 23, 2012
Greetings Jeanne,

Happy Saturday.....great question as both Mills Estates are highly desirable neighborhoods with great schools.

There are many factors at play that determine home values; inventory levels, very importantly whether homes are priced "to sell" or to "be on sale" when overpriced properties sit on the market for longer than the average number of days they tend to really become undervalued.

Here are some pertinent stats from my "Real Time" MLS: Mills Estates Millbrae Avg sales price for 9-2010 was $1,104,000 and for 9-2011 its $1,045,000 to date. Mills Estates Burlingame Avg sales price for 9-2010 was $1,154,000 and for 9-2011 its $1,338,000 to date.

Jeanne.... homes are really worth what a buyer or buyers is willing to pay for them. I would say both neighborhoods greatly hold their value and increase in value compparably when market and economic conditions allow!

Very prudent and wise for buyers to explore both areas and when selling look at comparables in both.....Thanks so much for a thoughtful question.

I hope this is valueable information Jeanne and if I can ever help Id be honored.

Sincerely, Denice Nagel
Coldwell Banker Burlingame Top 9% Worldwide 650-558-4296
0 votes Thank Flag Link Sat Sep 17, 2011
Hello Jeanne,

Here are some stats that you can use and as you can see the median home price in Burlingame is higher than Millbrae but this could change. As you know the market is very soft and home prices is impacted by what the market/buyer/lender will pay/finance at the time of the purchase.

About Mills Estates of Burlingame
Zips in Mills Estates of Burlingame: 94010
Median Property Tax: $6,275.96 - #19 in Burlingame
Median Sale Price: $1,188,000
Number of properties: 777

About Mills Estates of Burlingame
Zips in Mills Estates: 94030
Median Sale Price: $983,000
Number of properties: 782

You also have to inspect the location yourself to see where you and your family will be happier. This market will improve in the next few years and buying a home in an area where you are not happy is going to be a torture. Create a checklist of things that you want in a home and weigh the pros and cons on both areas then make a decision base on your needs, I'm sure one location will outweighs the other.

Hope this helps and let me know if I can help you in the future.

Sue Cortes
Prudential CA Realty
0 votes Thank Flag Link Thu Aug 18, 2011
My guess is the area that has the highest listing prices now.

Happy funding, Rudi
Web Reference:
0 votes Thank Flag Link Fri Aug 12, 2011
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