Burlingame, CA

If you are looking for a Burlingame mortgage, I can help you. I have been originating loans since 1985. Our company, RMC Real Estate Loans, is located in the heart of downtown Burlingame, on Burlingame Avenue, which will make it convenient for you to obtain your Burlingame mortgage.

Our company is a mortgage brokerage, which means that we are not tied to the programs of just one lender. Instead, we have wholesale relationships with lenders such as Bank of America, Wells Fargo, and Citimortgage, and many others. These relationships we have will enable us to quote you attractive terms from a variety of lenders for your Burlingame mortgage.

You might be saying to yourself, "why should I call a mortgage broker to obtain a Burlingame mortgage? I can just call the banks myself." Yes, you can call the banks yourself. However, there are so many nuances that go into a rate quote, that you will be spending a lot of time and energy trying to figure out which lender is the best to apply to. If you value your time, letting us help you obtain your Burlingame mortgage is a wise decision.

The property values in Burlingame are high compared to the rest of the country. We specialize in jumbo loans and agency jumbo loans (loans purchased from lenders by Freddie Mac and Fannie Mae). The limit for an agency jumbo loan for a single family Burlingame mortgage is $729,750. Many lenders offer agency jumbo loans. Few offer jumbo loans, but we do have them available up to $10 million.

If you need a jumbo loan for your Burlingame mortgage, be prepared to make a down payment of at least 20%. Generally speaking, you will need to provide two years of tax returns to verify your income. You will also need your debts to be no more than 45% of your income. I can help you figure out how much you can qualify for to obtain your Burlingame mortgage. I always have a few tricks up my sleeve (that are perfectly legal and ethical) to help increase the amount you can qualify for.

If you are purchasing a home in Burlingame or in the surrounding area, I suggest you get pre-approved before making an offer. Burlingame homes that are for sale often wind up obtaining multiple offers. If you are not pre-approved, your offer will not be as strong. To get pre-approved for a Burlingame mortgage means that you provide me with all of your financial documents and signed disclosure forms. I then submit your package to a lender, and they will approve you to borrow up to a certain amount.

Not only do we offer residential mortgages, but we also offer commercial mortgages and a reverse mortgage alternative. My goal is to provide a wide variety of programs and terms for your Burlingame mortgage needs!

How Can I Help You?

Phil Caulfield
(650) 401-3239 Office
(650) 222-0386 Cell Phone
@philcaul Twitter
http://www.linkedin.com/in/philcaulfield LinkedIn
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RMC Real Estate Loans is a mortgage broker in Burlingame, CA.
We have been in operations since 1976. As a mortgage broker,
we help our clients obtain a loan from the lender who has the terms that best matches their needs.

The area around Burlingame, generally speaking, has homes that are in the higher end of the sales price spectrum. The prices for single family homes are generally in the $750,000 to $3,000,000 price range.

Because the home prices are high in the Burlingame area, we have decided to focus our concentration as a mortgage broker on jumbo loans. We have affiliated with lenders that have jumbo programs that are attractive to our clients.

To satisfy the needs of our clients, we offer pre-approvals in order to make their offer more attractive. Pre-approvals are powerful because the Burlingame area usually has competitive bidding situations. Without a pre-approval, bids are usually lost.

In terms of programs, not only do we offer fixed rates, but we also offer adjustable rate loans and intermediate ARM loans. Many of our programs offer an interest-only option, which many of our clients take advantage of to control their cash-flow.

We pride ourselves on being a mortgage broker with experience. Each one of our agents has been originating loans for at least twenty years. We are well-respected within the wholesale loan community, as evidenced by our relationships with Citimortgage, Wells Fargo, Bank of America, Met Life Home Loans, and Suntrust.

If you are looking for a mortgage broker in Burlingame, CA, or the surrounding area, RMC Real Estate Loans is the company to call.

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So you have decided to put your property up for sale, now it is time to meet with your favorite realtor. Be very careful when setting the price point, be realistic in what you expect to get at end of closing. Be very careful examining the comparable properties in your neighborhood. Investigate the type of repairs made; consider closing costs by using a net sheet, etc. Your realtor should never over-quote what the real market price is just to get the listing, because he will never be able to sell your property for more than the offer received by the highest bidder.

Work out a schedule with your realtor in advance as to when you'd like to go over how your listing is performing compared to the competition including unique visitors and open houses. Reports should be provided to sellers on a regular basis and reviewed to adjust price point if needed.

For your copy of a free report called "Getting the Highest and Best Price" write me at Andrew@batesrealestategroup.com.

Visit www.BatesRealEstateGroup.com for a look at available properties, including foreclosure properties in the area and for other real estate related issues.

This past week the City of Burlingame had 54 houses for sale. The Median price was $1,484,444 (an unlucky number in Chinese numerology). The average price, which is always higher than a median was $1,595,334. The least expensive house for sale last week was for $695,000, a Short Sale, and it's now a pending sale. Believe it or not, this is good new, kind of... The median price has gone up but so has the average number of days on the market it is taking to sell that house which is 99! Almost half of the houses listed have seen a price reduction. You may wonder why Realtors seem to get price wrong and let me tell you it is an inexact science and changes by the minute and is something for a later post.

Now, this data is from last week, and I just went on the MLS to see what, if anything, had changed from the chart. Right now, as I am writing this, Burlingame has 40 houses on the market. When a house is for sale over the holidays you can be sure you are dealing with a serious seller, and there are 40 of these in Burlingame right now. The difference between the two sources has to do with time and additional data that Altos Research uses, including For Sale By Owner.

Altos Research likes to break down the real estate market by Quartile. Quartile 1 is the top quarter of the market with a median price of $2,350,000 and for this you likely will see a 4 bedroom, 4 bathroom home likely in Easton Edition or the Hills, and somewhere around 3000 square feet in size. Quartile 2 sits below in the middle-upper half and sees a median price of $1,695,000. This house will also likely have 4 bedrooms but only 3 baths and is around 2700 square feet in size. As we move to the lower half of the market, Quartile 3 sees a median price of $1,317,750. For this you also might get 4 bedrooms but only 3 baths and a smaller home just around 2000 square feet in size. The bottom of the market, Quartile 4 sees a median price of $918,500. These are the smallest houses with a median size of 1300 square feet and 2 or 3 bedrooms and 1 bath.

What I love about the Altos Research charts is how clearly they show the market. Looking at the Median Price, you can clearly see that prices were at bottom right at New Year 2008. Then they moved up and then bounced at another low around the second quarter of the year. Prices have risen since then. So you ask, What Gives? I know you're thinking that the news media says prices are dropping everywhere so how can this be happening? Perhaps, since I am not an economist, it has to do with the high desire of Burlingame, the great schools, the proximity to both San Francisco and the Silicon Valley and the very present shortage of housing in San Mateo County. Now don't get me wrong, prices have declined in Burlingame, just like everywhere else, but just not as dramatically.

Burlingame is a Buyer's Market. It's been one for over a year and yes, if you can afford to buy here, you won't go wrong. There are several months of inventory to select from, we haven't seen any wild swings in the market for a very long time, and even though we're seeing prices going up, there's really no reason for it, and if you're serious about buying you will likely have a good chance at getting the seller to listen to a good offer and negotiate. The Market Action Index is something Altos Research developed to show the break between a Seller's Market and a Buyer's Market. The red line sitting at 30 is the delineator. It also shows the balance between supply and demand in a nice form.

If you like information like this, you too can receive it right in your email. Just let me know and I'll have it sent. There is money to lend to people who are qualified to get it. If you fall into that camp, we'd love to show you some of the beautiful houses for sale in Burlingame. Call me at 650-696-2820.

This weekend, August 9th and 10th, the Burlingame Chamber of Commerce will be hosting its annual Art & Jazz Festival. There will be food, drink, activities, and events for people of all ages.

Come visit us in the Fox Mall right by Baskin Robbins. We'll be giving out information about our new program for seniors; a no-cost, debt-free alternative to a reverse mortgage.

I hope to see you there!