So far, in 2010, San Bruno real estate inventory is low making it a great new environment for homeowners who have been thinking of selling! Currently there are only 30 homes for sale ranging from $299,000 for a small one bedroom home to $1,000,000 brand spanking new homes in a new developement! Md range is about $550,000-$600,000.
With interest rates still teetering between 5 and 6%, home buyers are out in full force looking for good deals before the rates hike up!
What we are seeing is pretty quick sales of homes in the lower and mid ranges while the high end homes are taking awhile. They are selling though! It took quite a few months but the new homes in the Skycrest Develoment next to Lunardi's have all sold! One most recently at $918,000!
FHA loans are popular with a low amount of 3.5% down but many homebuyers are purchasing with 10-20% down that has been saved or come from equity lines on a home meaning that many of our buyers these days are move up buyers who have managed to build equity in their first homes! That's great news!
The competition in the low and mid ranges are still bank owned homes and short sales but there are some regular sales out there amongst them!
As I walk the neighborhoods placing neighborhood newsletters and notepads on people's doorsteps, I notice that most people are staying put. People who own homes or rent them for that matter like where they live here in San Bruno and don't plan on selling anytime in the near future unless a fantastic job opportunity comes along, a new family grows out of a small home, or an senior downsizes. I don't blame them. I live here, too, and I enjoy my neighborhood in Huntington Park. I like that I am walking distance to everything, even though I choose to drive. I imagine that's how a lot of people feel.
At this point of my life with my kids in elementary school and taking part in all that San Bruno Park and Rec has to offer, I am here as a San Bruno neighborhood resource. If you want to know what's going on in the park, Chamber of Commerce, real estate, or anything else, chances are I can help you. I also help people buy and sell houses in San Bruno and other parts of the peninsula. Please visit my website and check out my videos at: www.KarinCunningham.com
Your friend,
Karin
I am a Bay Area real estate specialist and a current resident of San Bruno. I was born and raised in San Francisco. I can help you locate and purchase a home as well as sell one. Thank you!
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