There has not been much change from last week in either the mortgage market or the stats in the local home sale market.Rates have not moved much this week. That could change tomorrow when the Fed announces their decision regarding the Federal Funds Rate at 11:15 Pacific Time. I am going to go out on a limb and predict that they will not change rates - the consensus is that they will cut .25%. Burlingame has 54 single familyhomes for sale with 10 listed as pending - not much change from last week. The lowest priced listing is for $659,000. The highest priced listing is for $2,995,000, which is a $100,000 increase of the highest priced home for sale from last week.Hillsborough has 55 homes for sale with 3 listed as pending sales, according to mlslistings.com. The price range is between $1... 04/29/2008

My client recently received a letter from Washington Mutual stating that they were reducing his equity line from $939,700 to $282,000. We hear about lenders reducing the amount of available credit on equity lines every day. This case, I believe, is an example of a lender taking advantage of a customer because of their own problems. WAMU approved my clients for a 90% CLTV equity line based on an appraised value of $2,600,000. It was a fully documented loan, and it closed in January 2007. After receiving this letter, my client and I had a conference call with a supervisor from the WAMU consumer loan division. He stated that the decision to reduce the equity line amount was based on the results of an automated valuation model (AVM) of the home that determined that the home had declined in ... 04/27/2008

Jumbo rates have moved up in the past week. However, some of our lending sources are still offering attractive 5 year fixed rates in the 5% to low 6% range.One loan program I find particularly attractive in the current marketplace is a 6 month adjustable rate mortage. It offers interest-only payments with no possibility of  negative amortization. The index it is ties to is the very stable COFI index. Start rates begin as low as 3.49% (6.45% APR), with a 1% cap rate per adjustment. This loan can really help someone who wants to reduce their monthly expenses and increase their cash flow.Burlingame home sales are happening throughout many different price ranges. Currently there are 55 single family residences on the market. Out of these 55 homes, eleven are pending sale, according to MLS L... 04/21/2008

To be profitable, foreclosure investing requires extensive research and preparation. Amassing the following information will give you the details you will need to negotiate a profitable deal:A copy of the foreclosure notice, or notice of default; Title commitment and a 24-month history in the chain of title or the last two recorded documents Deed with the current homeowners' names. Last recorded first mortgage, so you know how much the current homeowners owe. Documentation of all liens against the property, including property tax liens. Map showing the location of the property. Exterior home inspection (with photos and videos), plus neighborhood photos. City worksheet on the property showing all repairs, inspection reports and other information. MLS data showing how much comparable home... 03/16/2008

It's been a while since I posted any information about the Burlingame real estate market.  Altos Research sends me reports weekly on all of the seven sister cities we cover but frankly the market has been so slow it hasn't been worthwhile posting these until now.  Spring has sprung.  We are beginning to see listings come onto the market, and lots and lots of people are out looking at homes.  Hopefully, to buy them.  Burlingame only had 38 homes for sale last week.  It's gotten better this week - a whopping 41!  Shoot off the rockets, we're off to a good start!   Seriously folks, that's not a lot of houses for sale, is it? Let's look at what Altos told me on Monday.  The median price for all houses listed in the city of Burlingame, was $1,360,500.  Prices have held over the past weeks.  ... 03/07/2008

Real Estate was the engine driving the economy, and real estate in Burlingame was no exception to this. We can't go a single day without some one telling us that this is the worst real estate market ever. Is it, really?  Yes, of course it is in many places in the country.  The Detroit area is in a depression.  Stockton and SanBernardino are sure close.  San Mateo County is nothing like that.  We still have What is it that is holding you back from listing your house and moving up to that new one you've been dreaming about?  There's money to lend at low interest rates.  There are people out there ready to buy, and Burlingame is a happening place with great schools, a vibrant downtown, and an easy commute to the City or Valley. So, please tell me, why won't you list your house?  What are y... 03/02/2008

This workshop is put on by one of my great friend & client: Anjanette Bixel of Alain Pinel. I will be there as well, so if you come by, please say hello! It’s going to be a great workshop jam packed with information. There are about 9 seats left! Preparation for Buying a Home, The Process & the Benefits Special Guest Speakers: Ed Diaz, Mortgage Consultant Paul Bartke, CPA/Enrolled Agent Deborah Boswell, Estate Planning Attorney Presenting information on Preparing for a mortgage loan — your credit scoreLocal market update — why it’s a good time to buyTax benefits of homeownershipEstate Planning Thursday, Feb 28, 2008 at 6pm Check in: 5:45pm Presentation: 6:00pm 1440 Chapin Avenue, Suite 100 Burlingame, CA 94010 RSVP to 650.931.2950. Refreshments served. 02/27/2008

I saw my first blossoms out today while driving up Truesdale Blvd. in Burlingame.  I always get excited when I see them, and today it was the Tulip Magnolia popping out in flower.  Wow, it's the middle of January and spring flowers are beginning to come out and it's one of my very favorite trees in blossom first, too. For those of you living in other parts of the country, this is not unusual.  It is not because of Global Warming.  It is quite normal for our part of the world. In fact, I expect to see more blossoms on trees within the next couple of weeks, and then the first of the bulbs will sprout.  I think those of us who are native to California, and the San Francisco area, don't realize how unusual this is to the rest of the world.  Our temperate climate allows us green grass 12 mon... 01/17/2008

I have reviewed the November MLS statistics for Single Family Homes in Burlingame, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 12/14/2007

I have reviewed the November MLS statistics for Condominiums & Townhomes in Burlingame, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 12/14/2007

  Real Estate is a funny business and I don't mean it sarcastically but literally.  It's a very easy business to enter.  Take some classes, take a test, pass it, get a license from the state, and put the license with a broker and you can say you're in Real Estate.  But, ah ha, are you?  The school you might have gone to in order to learn the stuff needed to pass the test really teaches you nothing about the business.  And yes, this is a business and finally we're seeing it run more like one in many brokerages.  Why am I talking about this?  Well, it's near the end of the year and that's when people disappear from your office.  Poof, they vanish without a word of good bye or for that matter, hello.  The only way you know they've gone is to see an empty desk.  No matter.  They never were ... 12/05/2007

I know you've heard that saying, "All Real Estate is Local" many times and in San Mateo County and especially in Burlingame and Hillsborough it's really so.  Lately, all media screams out at us on a daily basis how bad investing in real estate is and that everyone is being hurt by the sub-prime mess.  Guess what?  That just isn't the case.  Sure there are some areas of San Mateo County that truly are in trouble because of the sub-prime mess but certainly not Burlingame or Hillsborough.  The prices haven't dipped a bit all year.  Let me give you a few facts about real estate that the media doesn't want you to know about. Over 30% of all homeowners are mortgage free.  They have paid it off.Only 5% of all loans are in trouble nation wide.  That means 95% of all mortgages are... 11/19/2007

I have reviewed the October MLS statistics for Condominiums & Townhomes in Burlingame, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 11/13/2007

I have reviewed the October MLS statistics for Single Family Homes in Burlingame, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 11/13/2007

Hello My dear client & friend Anjanette Bixel, a great Realtor serving Peninsula is holding a series of educational events. The first one is tomorrow. I hope those of you who are interested will be able to attend! Feel free to send this to your friends as well. Cheers, Cindy Series Presentations 1) Investment Property Owners: TOMORROW, Nov 13th… See Invite Below 2) First Time Home Sellers 3) First Time Home Buyers 4) Value Add Of Upgrades to Your Home at Resale 5) Downsizing and Understanding Propositions 60 & 90 6) The Power of Your Credit Score 7) Estate Planning 8) Your Requests and additional needs _______________________________________________________________________________ Anjanette Bixel, Aimee Klarich, & Joanne Bianchi of Alain Pinel Realtors - Burlingame cordially invite you ... 11/12/2007

The City of Burlingame, like it's northern sister Millbrae, is also a Cool Buyer's market.  With 88 houses for sale and a median price of $1,495,000 one might think prices would be dropping, but alas it's no such thing.  The prices have again remained at the same level they've been at for several weeks.  The median price, which is high by normal standards, is well below what it was in early 2006, so by that benchmark there are bargains to be had. Burlingame offers tops schools, easy commutes to San Francisco or the Silicon Valley.  Sharing the same zip code as Hillsborough, 94010, it is known as The City of Trees with tree lined streets , charming homes and mild weather. Like Millbrae, we've seen about a third of the homes for sale reduce their asking price.  If you're one of the many w... 10/24/2007

I have reviewed the September MLS statistics for Single Family Homes in Burlingame, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 10/09/2007

I have reviewed the September MLS statistics for Condominiums & Townhomes in Burlingame, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 10/09/2007

Why it is well known that the Easton family is the namesake of the Easton Addition neighborhood in Burlingame, CA - today’s issue of the San Mateo Daily Journal reported fascinating facts preceding the Easton family settling on the land that is now North of Burlingame. The story is a part of the “Rediscovering the Peninsula”  column that appears in the Monday edition of the Daily Journal. Click on the link above to read how newlywed young couple – Ansel and Adeline Easton  were miraculously saved from SS Central America ship that sank 200 miles of the coast of Carolinas in 1857. Even more fascinating is a story how Tommy Thompson, an eccentric engineer, led exploration that discovered the shipwreck of SS Central America.  So click here to read this fascinating story. To read more about... 10/08/2007

I have reviewed the August MLS statistics for Single Family Homes in Burlingame, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto 09/12/2007