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Burlingame REALTOR® Mary Ann Teixeira says Current Real Estate Market in …

Fri, 01 Mar 2013 13:22:23 +0000

Burlingame, CA (PRWEB) February 28, 2013

According to the San Mateo Association of Realtors, in January of 2012 there were 1,172 single family homes on market in San Mateo County as compared to January of 2013 there were only 545. This shows that the market has significantly shifted from a buyers market towards a sellers market including a jump in average sales price of 20% for San Mateo County.

“For the past several months I have experienced buyers confronted with multiple offers resulting in homes selling for substantially over listing price.” says Teixeira. “I really feel that the strength of silicon valley and the increase in jobs growth and stability is what we’re seeing reflected in the boost in the mid-peninsula housing market.”

This trend is shown nationally in the SP/Case Shiller composite index’s numbers of their metropolitan survey of 20 cities that show the largest improvement in residential home prices in December since July of 2006 as well as a significant and moral boosting increase in consumer confidence.

For additional information about the Bay Area real estate or San Francisco Bay Area Peninsula real estate and relocation, call Mary Ann Teixeira at (650) 241-0318, or visit her website at http://www.maryannt.com.

About Mary Ann Teixeira

Mary Ann Teixeira is a licensed REALTOR with McGuire Real Estate in Burlingame, California who specializes in relocation services, homes for sale and luxury homes. She is a seasoned buyer’s agent who serves the San Francisco Bay Area Peninsula communities of Atherton, Burlingame, Cupertino, Hillsborough, Los Altos, Los Altos Hills, Los Gatos, Menlo Park, Mountain View, Palo Alto, Portola Valley, Redwood City, San Carlos, San Jose, San Mateo, Santa Clara and Woodside.

Read the full story at http://www.prweb.com/releases/2013/2/prweb10486539.htm

Article source: http://www.digitaljournal.com/pr/1101611

Rising home values push more Bay Area homes above water, Zillow says – Alameda Times

Thu, 21 Feb 2013 06:20:30 +0000

Rising prices pushed thousands of Bay Area homes back above water last year, according to a report released Wednesday, another sign that the region’s housing crisis is easing as the economy recovers.

The report, by the housing website Zillow, shows drops across the region in the number of homes that are underwater — worth less than the value of their mortgages.

More than 56,826 homes bobbed back above water across seven counties of the Bay Area in 2012, Zillow reported. That still leaves 205,986 homes with a total negative equity of $31.5 billion.

And that negative equity is keeping thousands of homes off the market, forcing buyers to compete for whatever comes up for sale.

A dozen wealthy Silicon Valley and Peninsula communities from Belmont to Los Gatos have already returned to pre-crash home prices, the company said.

Zillow is forecasting continued growth in prices this year, followed by a leveling off in 2014.

The company uses a proprietary formula to calculate home values.

In the last three months of 2012, a little more than one-third of Contra Costa County’s homes that had mortgages were underwater, Zillow reported. That was down from 41.3 percent a year earlier.

The figure for Alameda County was 25.4 percent, down from 31 percent a year earlier, while Santa Clara dropped to 15 percent from 22 percent in the fourth quarter of 2011. San Mateo County had 15 percent of its homes with mortgages

underwater,¿¿ down from 20.7 percent a year earlier.

Nearly every part of the Bay Area is seeing a surge in home prices, with the areas that saw the biggest drops following the subprime bubble’s burst having the biggest price increases.

Oakland real estate agent Mark Biggins of Redfin Realty said that in some parts of the East Bay, frenzied bidding has caused prices to soar.

“It’s crazy in parts of Oakland and Berkeley,” Biggins said.

One of his clients just lost out on a home listed at $729,000 that sold for more than $900,000 with 23 offers. “There were five offers over $900,000 for this property. In 2005, that same property sold for $940,000. I think it just sold pretty much for that or more today,” Biggins said.

“Eastern Contra Costa County was dramatically overpriced” before the crash, said Bryce Ellsworth, broker at Windermere Ellsworth and Associates in Brentwood. “Now it’s underpriced, but that’s not going to last for long.”

The Silicon Valley corridor extending from Atherton and Menlo Park through Sunnyvale to Los Gatos is essentially back above water, Zillow reported, with median home values what they were before the crash. Many of those communities lost less in the crash and had less to regain.

“Those that have dropped the least have come back the quickest,” said Rick Turley, San Francisco Bay Area president of Coldwell Banker Residential.

“I would say the sweet spot would be that whole upper Silicon Valley and Peninsula area,” he said. “It probably lost the least amount in the downturn and has come back to new peak highs the quickest.”

San Jose, which fell sharply on large numbers of subprime loans, is still more than 20 percent below its pre-crash peak. But recovery also depends on when a person bought the home.

Real estate agent David Contreras, who specializes in condos in San Jose, said the recovery has gone so fast in San Jose that one client who wanted to short-sell her house for around $160,000 six months ago is now above water and planning to stay.

“Her home shot up easily to $235,000 within the span of about six months,” said Contreras.

But that’s not the case everywhere.

Contra Costa County median home values are still about 48 percent below their peak. Alameda County is 30 percent below, while Santa Clara County is 13.5 percent from its peak and San Mateo is 15.1 percent below it, Zillow said.

San Francisco was the county closest to a return to peak prices, with only slightly more than 3 percent to go.

Contact Pete Carey at 408-920-5419 Follow him on Twitter.com/petecareyg

uneven recovery

A sampling of Bay Area cities and the percentage they are below their peak home prices reached between 2006 and 2007
City Change from peak
Hayward -48.6 percent
Oakland -38.8 percent
Livermore -30.1 percent
El Cerrito ………..-26 percent
San Jose -20.6 percent
San Ramon……..-18.4 percent
San Mateo……….-15.1 percent
Berkeley…………..-12.5 percent
Redwood City……- 5.7 percent
Menlo Park 0.0 percent
Sunnyvale 0.0 percent
Source: Zillow

Article source: http://www.insidebayarea.com/breaking-news/ci_22632191/rising-home-values-push-more-bay-area-homes

Is Real Estate on the Peninsula Too Expensive? [POLL]

Wed, 12 Dec 2012 11:14:07 +0000

We’re in Silicon Valley, the Mecca for innovation and entrepreneurship. The weather can’t be beat and the opportunities are flowing.

The demand for Peninsula real estate is at an all-time high, while the number of housing options continues to shrink.

These are just some of the factors that have resulted in Coldwell Banker’s annual Home Listing Report ranking 10 cities in Santa Clara and San Mateo counties as part of the top 20 most expensive markets in the country.

“The success of many of our native tech companies has shined a spotlight on Silicon Valley and our real estate market in the San Francisco Bay Area,” said Rick Turley, president of Coldwell Banker Residential Brokerage in the San Francisco Bay Area, in a written statement.

Ranking at #1? Los Altos/Los Altos Hills. Following behind: #3 Saratoga, #4 Menlo Park, #5 Palo Alto, #6 Los Gatos, #10 San Carlos, #12 Cupertino, #15 Belmont, and #20 Redwood City.

For the average listing price of a 4-BR, 2 BA home in these cities, check out this article.

Cities’ staffs have seen large numbers of housing development proposals, such as Google’s housing project in Mountain View and the Cargill Saltworks Development in Redwood City.

And as more and more tech companies begin to sprout up and down the Peninsula, employees will want to live closer to their workplaces. Is increasing the prices of homes the answer to the skyrocketing demand for real estate?

Tell us in the comments why homes in the area are worth their price tags. Or if they’re simply overpriced.

Article source: http://losaltos.patch.com/articles/is-real-estate-on-the-peninsula-too-expensive-poll

Belmont Among the Most Expensive Real Estate Markets in Country

Sun, 02 Dec 2012 15:53:39 +0000

How much does it cost to buy a four-bedroom, two-bath house?

This year, Los Altos/Los Altos Hills, at an average price of $1,706,688, is the most expensive market in the country when it comes to how much house your dollar will buy, according to Coldwell Banker’s annual Home Listing Report.

And Belmont isnt far behind, ranking 15 on the list with an average listing price for a four-bedroom, two-bath home priced at $1,098,777.

In fact, of the nation’s top five most expensive markets, four are on the lower Peninsula and Santa Clara County, and all are in California. Besides Los Altos, they include Saratoga ($1,582,434), Menlo Park ($1,506,909), and Palo Alto ($1,495,364). Newport Beach, in the No. 2 position ($1,658,000), was the only market outside of the Bay Area in the top five.

Coldwell Banker attributes Los Altos’ ranking to the confluence of tech and desirable locations. Google, Apple, Facebook and Stanford University are all located within 15 minutes of Los Altos, Coldwell Banker observed. And, so are the other top-five cities Saratoga, Menlo Park and Palo Alto.

And Los Altos Hills is the town that brought you the $100 million home, purchased by Russian tech investor Yuri Milner in 2011.

In fact, among the top 20 most expensive markets in the country, ten of them are on the Peninsula or in Santa Clara Valley. They include the additional cities (in order of price) of Los Gatos, San Carlos, Cupertino, San Francisco and Redwood City.

High demand, low inventory, desirability and population projections all figure into the prices, Turley said.

Conversely, the most affordable was in Redford, Michigan, where the average a four-bedroom, two bath house cost $60,490—or 28 times less than the same house in Los Altos.

Coldwell Banker lists both the top 20 most affordable and the most expensive in the chart below.

For a state-by-state ranking , see this Coldwell Banker link.

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Article source: http://belmont-ca.patch.com/articles/belmont-one-the-most-expensive-real-estate-markets-in-country

Cupertino is 12th Most Expensive Real Estate Market in Country

Sat, 01 Dec 2012 21:50:10 +0000

How much does it cost to buy a four-bedroom, two-bath house?

By contrast, for an average of $60,490 a four-bedroom, two-bathroom home can be found in Redford, Mich., which is just outside of Detroit. It’s a isting price difference of more than $1.6 million.

Cupertino is 9th in California and 12th in the nation with an average price of $1,151,145 for a similar sized home. It sits just above San Francisco with an average of $1,132,086.

And Los Altos Hills is the town that brought you the $100 million home, purchased by Russian tech investor Yuri Milner in 2011.

In fact, among the top 20 most expensive markets in the country, 10 of them are on the Peninsula or in Santa Clara Valley. They include the additional cities (in order of price) of Los Gatos, San Carlos, Cupertino, San Francisco and Redwood City.

High demand, low inventory, desirability and population projections all figure into the prices, Turley said.

Conversely, the most affordable was in Redford, Michigan, where the average a four-bedroom, two bath house cost $60,490—or 28 times less than the same house in Los Altos.

Coldwell Banker lists both the top 20 most affordable and the most expensive in the chart below.

For a state-by-state ranking , see this Coldwell Banker link.

Article source: http://cupertino.patch.com/articles/los-altos-the-most-expensive-market-in-country-a35fc8e0

Burlingame Realtor Mary Ann Teixeira Says Foreclosing Homeowners Ask About …

Fri, 07 Oct 2011 03:13:49 +0000

Mary Ann Teixeira says as home foreclosures are beginning to become more commonplace, many homeowners ask about the likelihood of a deficiency judgement after the completion of a short sale or a foreclosure upon their property. How deficiencies are handled and whether allowed differs from state to state.

Burlingame, CA (PRWEB) October 06, 2011

By definition, a “deficiency judgments” is a court decision against former homeowners when the sale of the house does not sell for enough money to cover the amount owed to the lender. In essence the lender can still hold the seller financial responsible after the close of the sale in attempt to satisfy the remaining balance on a loan. However, in California, all first mortgages on a property of 1 to 4 units are protected from deficiency judgements by Senate Bill 931, (SB931) and Civil Code Procedure 580 (e).

Mary Ann Teixeira says “I hear a lot of fear from homeowners, as they examine choices, they fear that the house may sell but that the debt will live on.”

In many situations where the homeowners are in a short sale or foreclosure the idea of a debt living past the transaction is haunting. Homeowners in danger of this situation need to consult with a professional to find out exactly how this may affect them in the future.

For additional information about the conforming or jumbo loan impacts on your home buying, reasons to use a Bay Area real estate agent or San Francisco Bay Area Peninsula real estate and relocation, call Mary Ann Teixeira at (650) 241-0318, or visit her website at www.maryannt.com.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebburlingame_foreclosures/peninsula_real_estate/prweb8858144.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/10/06/prweb8858144.DTL

Palo Alto Real Estate Agent Rebecca McDonald Lists Bay Area Peninsula Home for …

Fri, 26 Aug 2011 14:51:10 +0000

Palo Alto, CA (PRWEB) August 25, 2011

Rebecca McDonald of Linwood Real Estate and Property Management has good news for those who thought they could never afford a home in the Bay Area. The San Francisco Peninsula real estate agent has just listed a 1,100 square foot 3 bedroom, 2 bath home in East Palo Alto for the unbelievably low price of $325,000.

The East Palo Alto property, conveniently located near the new Facebook campus, has been beautifully remodeled. Cooks will love cooking in the newly renovated kitchen, rich with natural materials and shiny stainless steel appliances. In addition to the granite slab countertops and all new cherry wood cabinets, the kitchen features travertine floors.

Hardwood floors refinished and polished to perfection, fresh paint in every room, recessed lighting, and double-paned windows throughout the entire house make this ready-to-live-in home comfortable. The home, situated on a 5,000 square foot lot, also features a 2-car garage, a new roof and a fireplace in the living room / dining room area.

“Everything is new, new, new-and the neighbors are wonderful,” said Rebecca McDonald, the Linwood Realty real estate agent who has listed the home. “This is a great opportunity for a family or investor.”

For more information about the 2589 Emmett Way home in East Palo Alto or any of Linwood Real Estate and Property Management’s property management services, call them at (650) 549-4801 or visit their website at www.paloaltopropertymanagement.com.

About Linwood Real Estate and Property Management

Linwood Real Estate and Property Management is a Palo Alto property manager and Palo Alto real estate agency located in Portola Valley, just west of Palo Alto. Linwood serves the San Francisco Peninsula communities of Atherton, Burlingame, Cupertino, Hillsborough, Los Altos, Los Altos Hills, Los Gatos, Menlo Park, Mountain View, Palo Alto, Portola Valley, Redwood City, San Carlos, San Jose, San Mateo, Santa Clara, and Woodside.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebpalo_alto/property_management/prweb8749329.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/08/25/prweb8749329.DTL

Burlingame REALTOR® Mary Ann Teixeira Says Housing Market on Peninsula Is …

Fri, 24 Jun 2011 19:08:31 +0000

Burlingame, CA (Vocus/PRWEB) June 24, 2011

Mary Ann Teixeira has been in the Peninsula real estate market for many years. As such, she has been affected by the local, state and national real estate and economic fluctuations of the last few years. Though it’s been a rough ride, she is starting to see more activity as low home prices and the threat of upcoming changes in lending standards are motivating people to buy or sell.

Real estate prices are relatively affordable, says Teixeira. According to the San Mateo County Association of Realtors sales statistics from the local MLS, the median home price in the City of San Mateo in April 2011 was down $25,000, or 4%, from the same time last year.

Impending changes to real estate lending policies are also affecting the market. As part of Congress’ 2008 stimulus package, jumbo loans were raised to $729,500, but this limit is set to revert back to $625,500 in September. “For those who need to sell a property, this may be the right time to do it,” said Teixeira. “There may be fewer potential buyers come fall.”

“Buyers are taking advantage of their increased buying power and low interest rates,” says Teixeira. “You can’t beat current interest rates, which are hovering at around 5%. And buyers who want to take advantage of jumbo loans are moving now to beat the looming changes coming this fall.”

For additional information about San Francisco Bay Area real estate and relocation, call Mary Ann Teixeira at (650) 241-0318, or visit her website at www.maryannt.com.

About Mary Ann Teixeira

Mary Ann Teixeira is a licensed REALTOR® with McGuire Real Estate in Burlingame, California who specializes in relocation services, homes for sale, and luxury homes. She is a seasoned buyer’s agent who serves the San Francisco Bay Area Peninsula communities of Atherton, Burlingame, Cupertino, Hillsborough, Los Altos, Los Altos Hills, Los Gatos, Menlo Park, Mountain View, Palo Alto, Portola Valley, Redwood City, San Carlos, San Jose, San Mateo, Santa Clara and Woodside.

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For the original version on PRWeb visit: www.prweb.com/releases/prwebreal-estate/burlingame/prweb8598362.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/06/24/prweb8598362.DTL

Burlingame REALTOR® Mary Ann Teixeira Shows Clients Bay Area Benefits and …

Thu, 31 Mar 2011 20:07:40 +0000

Burlingame REALTOR® Mary Ann Teixeira says that a great reason to live on the Peninsula is the multitude of opportunities homeowners have to learn and grow. Opportunities including the 2011 SF Flower and Garden show that took place March 23-27th in San Mateo.

Burlingame, CA (Vocus/PRWEB) March 30, 2011

While looking for a new home in the Peninsula area it’s important to look beyond just your neighborhood to the cultural and event centers as well, says Mary Ann Teixeira. As a Bay Area REALTOR® and resident Teixeira stays up-to-date and in touch with the plethora of events that take place across the Peninsula.

“People just moving to the area are not always fully aware of the activities that can enrich their lives and expand their cultural awareness. I like to be sure my clients are as informed as possible about all aspects of their relocation especially the opportunities that let them explore the outdoors – like the SF Flower and Garden Show,” said Teixeira.

The 2011 SF Flower Garden Show was held March 23-27th at the San Mateo Event Center. It’s known for bringing the best in gardening, outdoor living, design, and cooking together into a large hands-on event the whole family can enjoy.

For additional information about reasons to use a Bay Area real estate agent or San Francisco Bay Area Peninsula real estate and relocation, call Mary Ann Teixeira at (650) 241-0318, or visit her website at www.maryannt.com.

About Mary Ann Teixeira Mary Ann Teixeira is a licensed REALTOR® with McGuire Real Estate in Burlingame, California who specializes in relocation services, homes for sale, and luxury homes. She is a seasoned buyer’s agent who serves the San Francisco Bay Area Peninsula communities of Atherton, Burlingame, Cupertino, Hillsborough, Los Altos, Los Altos Hills, Los Gatos, Menlo Park, Mountain View, Palo Alto, Portola Valley, Redwood City, San Carlos, San Jose, San Mateo, Santa Clara, and Woodside

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For the original version on PRWeb visit: www.prweb.com/releases/prwebreal-estate/Burlingame/prweb8247667.htm

Article source: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/03/30/prweb8247667.DTL