Hillsborough, Burlingame Luxury Homes Real Estate

EEK, the year 2007 will end in 3 weeks!  Does anyone buy a house during this time?  Well yes, they do and if you are in the market to buy a home, it's a great time to do it. But, if your house is for sale, don't forget to keep it looking Just Right, because your future buyer just might be out there.  And looking.  It is not unheard of an offer coming in on Christmas Eve, Christmas Day, or even New Year's Eve. 

We don't usually see too many new listings come on the MLS the final weeks of the year but there are a few.  There are also a lot of serious buyers out there and, drum roll please, there's a boat load of money for lending.  Stop believing the mainstream press and talk to your lender.  If your FICO score is above 670, you have cash in the bank, a good job(s), get to a lender and talk.  Believe it or not, if you fit a specific profile, they are still providing 100% loans but you must fit the criteria.

There are some really good buys and prices have definitely come down in many areas of San Mateo.  I can't say if this will hold for 2008, but if you want to buy a house, and not a condo or townhouse, you might very well find one right now if you  look.  I am seeing some great houses at prices we haven't seen in a couple of years.  If you don't have an agent of your own, give us a call.  We are here to help you throughout the buying process. 

No one really knows what to expect in 2008.  We think the market will stay somewhat flat, with some appreciation, maybe 3-5%.  We haven't see a lot of foreclosures in San Mateo, at least so far, and if you want to wait for them to come on the market don't expect to see dramatic reductions in price.  The banks are in the business of making and lending money and they do not want to sell their foreclosures at a dramatic loss.  If you want to try and buy one, you must have cash in the bank and be prepared to find a house that might need a lot of work.  If you like to gamble like that, then more power to you.  If you don't, now's the time to buy.  The market in San Mateo will probably not drop much more.  Don't miss this window of opportunity!

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