Hillsborough, Burlingame Luxury Homes Real Estate

San Mateo is the largest city in the mid-Peninsula with about 90,000 residents.  Prices for San Mateo spread far and wide.  Last week the range went from a low of $300,000 to a high of $3,395,000 - quite a spread and significantly different kinds of houses.  Today I am going to write about the entire city and then talk about the individual zip codes tomorrow.  With such a dramatic spread of prices the median priced house drops to $749,000 and it’s likely to be a 3 bedroom 2 bath rancher with about 1400 square feet sitting on a lot of around 6000 square feet.   It was probably built shortly after WWII. 

Average Days on Market

Overall, the average number of days on the market has risen to 90.  It’s certainly lower than it has been this year but higher than you might expect during the summer buying months.  Keep in mind the average days on the market DOM, is for the entire city including the areas deeply affected by the sub-prime lending mess.  The areas west of El Camino where the high priced homes sit, generally is moving a little faster.

Inventory of Houses

Along with the increased number of DOM, we see an increase in the number of houses for sale.  We have not seen this large a selection of houses for years so if you are a pre-approved buyer, the time to buy is now since you can choose from so many homes.  If you are a first-time buyer, take advantage of the tax credit that Congress has given to you for this year only.  Up to $7500 in tax credits for first-time buyers is hard to resist and this, along with all of the traditional write-offs for homeownership will be a nice gift come tax time in 2009.

Median Prices for San Mateo Houses

You can easily see when the top of the market was in San Mateo!  It looks like the peak was around the first or second week of January in 2007 and things have gone downhill since.  That is, until now, with a jump up this summer that appears to be sustaining.  Time to move on that purchase if you’re on the fence.

Market Action Index

Our research company, Altos Research uses an algorithm to divide a Buyer’s Market from a Seller’s Market.  The red line at 30 is that line.  We hit bottom in first quarter of this year and have been bouncing along, a little upward, but bouncing none the less in at a Cold! Buyer’s Market with the number 19.  This is city-wide, all zip codes.  As I show you tomorrow, it’s a little different in each zip code within the city.

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Plan Your Move with Tiny steps

I’m reading the book “One Small Step Can Change Your Life - The Kaizen Way“by Robert Maurer.  The book talks about making small, sometimes tiny steps to make major changes in your life.  I began to think about this in how real estate could use this book.  One such way is to use this happens when someone needs to sell their family home.  You know the one, it’s the one that they have lived for 40 or 50 years; the one that’s loaded with possessions, let alone memories, of those many years.  What often stops people in their tracks is the thought of having to sift through everything.  It is overwhelming. 

By taking  tiny steps, changes can be made in our mental thought patterns according to Maurer.  Why not do the same thing with your house? When we have too much to tackle it’s easy to become paralyzed with fear and the thought of selling the family home can be frightening. 

Where to begin? 

You begin with one small step.  Start with one room at a time. Take one corner of that room and begin.  Sort your items and make four piles of things.

• Pile One: items to keep
• Pile Two: items to give to family or friends
• Pile Three: items to donate
• Pile Four: items to throw away.

Before you throw anything away bring the family in and let them see what you want to throw out, just in case.  There might be a treasure in there that someone wants, even though you don’t. 

This first small step, and first corner may take a while to complete.  No worry.  Take your time and once you’ve finished that corner, move to the next and the next and finally the last corner.  Hopefully, the middle of the room is now filled with the four piles and then you take the next step.

Throw out the junk.  Donate the items in that corner.  Have the family take their items away with them.  Finally pack the items you want to keep into boxes.  Label the boxes and have them put into your garage for the move.

Repeat this process with each room of your home. As you move around your house it will become a little easier with each room.  You’ll have a clear idea of what is in that space.  What you want to keep and what you don’t.  Continue on with the same four piles and clear out each room as you go.

Be ruthless.  If you are downsizing you can’t take everything with you so you must decide exactly what it is you want to keep.  What furniture will fit in your new home?  What pictures and knickknacks.  What will go and what will not. 

The two year rule

A good rule to follow in this process of thinning down your life is the two year rule.  Have you used this item, garment, kitchen utensil, pot or pan within the past two years?  Yes?  Keep it.  No?  Out it goes into one of the three piles for family, donation or garbage. 

This whole process takes time.  If you are getting ready to sell the family home, begin this process well in advance of putting your home up on the market.  Your friendly Realtor will tell you to get rid of clutter and the earlier you can do this the more you’ll be able to do this with thought and consideration .  If you can have another pair or two of hands to help, a child or friend or spouse, it may go a little faster.  But more than that, it will be a wonderful time to reminisce about old times when you used that thing and tell family stories.

One small step at a time in the house clearing process not only makes it more manageable but relaxing and maybe even a little fun.  Sure you may shed a tear here or there, but you also will have laughter and conversations about your life’s memories in your family home.

After all, this move will allow you to shed the burden of things and possessions and let you move into your new home with everything you really want and that really means the most to you.  What an uplifting feeling!