Popytoys, Home Buyer in Foster City, CA

Is the house price in Bay Area stable yet? I want to find a house in Foster City or Burlingame... I know the

Asked by Popytoys, Foster City, CA Tue Aug 11, 2009

houses in FC sold fast and inventory went little low now. But I am afraid that was jsut the effects of during Summer and low interest.

What do you guess the market in FC or Burlingame will go in the next 3 months based on my real economy condition?

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Answers

6
Thank you very much for all of your truely advise!!

I just got a house in FC back in Jan. The price is the one that we could afford...with the low interest rate! I really like my house. My son just got to his kindergarden on time too!

The inventory starts to build up again. Some of the houses over 2000 sq are really good deals. Some of them are only mid-900. To me, I may not care if this is only short term fluctuations...even in next couple years... Becuase I try to commit to this house for at least 15 years this time!

Thank you very much again for your opinions! I will try to keep you all in my contacts in case I need further help :)

Take care.
0 votes Thank Flag Link Tue Oct 12, 2010
Hi there.

No market is ever stable - not the stock market, the housing market, or any other market. Every market has its own volatility and is subject to fluctuate due to unforeseen circumstances, whether positive or negative.

No one knows what will happen in the market in the next three months either - it is impossible to predict. Historically, there is a lull in August, sales pick up in September, and then taper off through the holiday season. Will that be the case this year? No one knows. It certainly wasn't the case in 2008 when the market shut down from October until March 2009.

The only one who can answer the question "Buy now or Wait" is you. The decision will always involve a level of risk and homes will always cost a decent amount of money in the Bay Area. If you find a home that you really love and you try as hard as you can to convince yourself not to buy it, but can't, then it might be the right time for you to buy.

Your "right time" to buy might be someone else's "worst time" to buy. Everyone has differing sets of circumstances that determine their ability to buy and their desire to buy. Gauge yourself based upon your life goals and financial situation and don't let anyone besides yourself (with the exception of your wife/significant other) convince you to move when you aren't ready.
Web Reference: http://www.atlistings.com
0 votes Thank Flag Link Thu Aug 26, 2010
Hi there,
As you've noticed from the answers, real estate professionals do not base their opinions on guessing. We operate with facts and may give you an opinion bases on such facts. Foster City is one of the thought for places due to its location, schools, weather, etc. Most economic factors for Buyers are favorable, inc. low interest rates. Therefore if you're willing, able and ready - just go for it!
Web Reference: http://www.proqvest.com
0 votes Thank Flag Link Mon Aug 23, 2010
I've been working with two buyers in the Foster City market recently. One just landed a good short sale townhouse. The market has had low inventory since the beginning of the year. This probably will not change much. High demand for housing in the mid-peninsula, especially in the areas such as Foster City with strong schools. Interest rates will stay low for a while - so that will keep things stable. Inventory in the good school areas probably will stay stable too. Historically, from mid-October to January is a gradual decline in inventory. So, the next two months may be your best window.
0 votes Thank Flag Link Tue Aug 11, 2009
Mario Pinedo,…, Real Estate Pro in Beverly Hills, CA
MVP'08
Contact
Popytoys, numbers can deceiving but the market is showing signs of recovery. Usually once the stock market stabilizes, real estate follows. As of 8/9/09 Foster City has 23 Active listings for sale and Burlingame has 66. Foster City has 21 Pending sales and Burlingame has 25.

My advice would be to get approved for a loan, and if you don't have a real estate agent , start looking for one. Most agents have web sites and can link you to the multiple listing service so you can get real time updates on new listings.

If you are in no rush, focus on finding the "right" home. When you find that home, it's time to make a move.

Good luck,

Dave Tap Tapper
Realtor
Cashin Company
http://www.DavidTapper.com
650-403-6252
Web Reference: http://TeamTapper.com
0 votes Thank Flag Link Tue Aug 11, 2009
I think you'll find people that will say it is stable and others that will say that it is not. I personally believe that when you are ready to buy and if you are in it for the long run, the price fluctuations will not matter as you are in it for the long haul and real estate has tended to appreciate over time.
Web Reference: http://www.whillamina.com
0 votes Thank Flag Link Tue Aug 11, 2009
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