About San Mateo County, CA

Here is a list of open houses in Burlingame and Hillsborough that are listed for more than $2,000,000 that will occur on Sunday November 8th. The information for this list of open houses in Burlingame and Hillsborough was found on the MLSlistings.com website.

• 2980 Privet Drive - $4,800,000 - 2 to 4
• 38 Lemon Court - $4,680,000 - 1:30 to 2:45
• 555 Craig Road - $4,295,000 - 1:30 to 4
• 70 Joyce Road - $4,280,000 - 1:30 to 3
• 15 Jewell Place - $4,250,00 - 2 to 4
• 735 Brewer Drive $4,225,000 - 2 to 4
• 105 Baywood Avenue - $3,880,000 - 3 to 4:30
• 280 Sierra Drive - $3,650,000 - 1:30 to 4
• 50 Woodridge Road - $3,350,000 - 2 to 4
• 112 Alturas Drive - $3,149,000 - 1 to 4
• 356 Darrell Road - $3,095,000 - 1:30 to 4
• 150 Newton Drive - $2,995,000 - 1:30 to 4
• 10 Kammerer Court - $2,985,000 - 2 to 5
• 725 Hayne Road - $2,895,000 - 2 to 4
• 740 El Cerrito Avenue - $2,860,000 - 2 to 4
• 2135 Carmelita Avenue - $2,825,00 - 2 to 4
• 35 Willard Lane - $2,550,000 - 1:30 to 4:30
• 1417 Cabrillo Avenue - $2,348,000 - 2 to 4
• 1524 Newlands Avenue - $2,298,000 - 2 to 4
• 2223 Easton Drive - $2,250,000 - 2 to 4
• 1325 Cabrillo Avenue - $2,248,000 - 1 to 4
• 10 Tiptoe Lane - $2,199,00 - 1:30 to 4
• 50 Glenbrook Drive - $2,150,000 - 2 to 4
• 1435 Lakeview Drive - $2,149,000 - 2 to 5

The long-awaited extension of the tax credit has been approved by both the House and the Senate and currently awaits President Obama's signature (which is not expected to be a problem). There is also an expansion of the credit to include current homeowners (not just first-time buyers)...however, there are several restrictions along with improvements. The income limits have been increased, the maximum sales price has been set at $800,000, etc.

Luxury homes in Hillsborough Ca and the downturn market

While the value of luxury homes seems to have held up better than the rest of housing market, prices are starting to show decline due to recession, job losses, and sinking stock portfolios. Loan restrictions, and difficulties with appraisals also had effect on sales of luxury homes.

Sales of less expensive houses on other side are accelerating as buyers and investors take advantage of bargain prices, low interest rates and first-time homes buyers tax credit.

The days on the market has really increased accross Bay Area on the high-end. The inventory of luxury homes grows accordingly, thought we had a good number of homes sold.

The number of under contract Hillsborough luxury homes in October 2009 by 45% higher than in October of 2007.

The median price of sold homes in Hillsborough ca is slowly declining.

If you're planning to buy a house in Hillsborough, the time may be right for you, and I will be happy to help.

Lena Griffin

www.LenaGriffin.com

Long Ridge Open Space Preserve, San Mateo County, CA, taken 10/25/09

I have had real estate owners in San Mateo County ask me - what is a private money loan? A private money loan is a real estate loan funded by non-institutional sources.

Non-institutional sources of private money loans vary. The source could be an individual. Often it is a group of people who have pooled some funds together.

There are companies that specialize in the placing and funding of private money loans. These companies serve at least two important functions.

The first function they serve is the marketing of the availability of private money loans. They often post ads on Craigslist, trade publications, and other marketing vehicles to let both the public and mortgage brokers know that they have funds to lend.

The second function they serve for the private money source is similar to a funnel. They receive loan scenarios and toss out the ones they know that the private money source will not be interested in. They package the files that fits the source's interests, present the file, and receive approval.

Why would someone become a private money lender? Generally speaking, a private money lender gets a generous percentage return that is secured by real estate. To the lending source, it is an investment of their money. It is an investment alternative, just like investing in the stock market is an investment alternative.

Why would someone borrow private money funds? Well, that will be the subject of my next post that will tell the top ten reasons why someone would want or need a private money loan.

The terms of a private money loan are usually much different than the terms that banks offer. One major difference is the length of the term. Generally, private money loans are no longer than five years.

Another difference is the interest rate. Private money rates tend to be higher than the rates banks offer. Higher rates make sense because these loans are usually riskier.

The fees associated with a private money loan are usually higher than bank loans. It's not unusual to pay anywhere from three points to eight points to obtain a private money loan.

With the tightening of underwriting guidelines by banks, private money loans, I predict, will gain market share in the near future.

If you need help with a private money loan in San Mateo county, or anywhere in California, you can contact me and I will try to help you.

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