Getting to foreclosure taking longer than ever

LPS Mortgage Monitor Report for May shows that the number of days for a house to go from late payments to foreclosure is taking longer than ever – 449 days which fuels the “shadow inventory” conversation.

What is shadow inventory?

The whole idea of shadow inventory has been debated for months; does it exist or not?

There were programs created to help home owners survive the real estate market bubble; unfortunately not all the effort has paid off.   There’s the loan modification; some don’t qualify and some payments weren’t lowered enough.  Or like HAMP many people don’t qualify.   While frustrated home owners tried to make these things work for them it’s just delayed the inevitable: foreclosure.

Since it’s taking up to 15 months to get the property through the process there’s now a backlog of houses that need to be sold: shadow inventory.

Is there shadow inventory in San Mateo?

The absorption rate includes all houses for sale.  But how much of that total inventory is bank owned?

Not much.  June of this year is definitely the high at 16 bank owned homes listed for sale in just one month; but it’s not the flood of shadow inventory we’ve been hearing about.  Summer’s not over though.

Trying to figure out if you should sell now?
call me ~ text me ~ email me
I’m here to help.

Vicki Moore, Realtor
DRE 01234539
RE/MAX Star Properties
Selling San Mateo County Homes Since 1998

Search All San Mateo Homes

Showing properties 1 - 3 of 280. See more city of San Mateo real estate.
(all data current as of 9/2/2010)

1. $279,900 : 688 Mariners Island Bl #112, San Mateo
   
   1 beds, 1 full bath

   Size: 726 sq ft

   Lot size: n/a
   
2. $557,000 : 1103 7th Av, San Mateo
   
   2 beds, 1 full bath

   Size: 1,330 sq ft

   Lot size: 4,750 sq ft
   
3. $189,900 : 155 N El Camino Real #11, San Mateo
   
   1 beds, 1 full bath

   Size: 710 sq ft

   Lot size: n/a
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Popularity: 4% [?]

San Mateo Real Estate Market’s Absorption Rates

The absorption rate is a quick way to see if the San Mateo real estate is going up or down in inventory. It’s just one piece of information used to evaluate pricing. It’s a snapshot of the market.

What you’re looking at is how many months’ inventory there is on the market. The assumption is that it will take X number of months for all of the houses currently on the market to sell. More inventory = longer to sell.

You can also see if San Mateo’s market is a buyer or a sellers’ market. The National Association of Realtors defines a balanced market as one is which there is 6 months of inventory. More than 6 months, it’s a buyers’ market; less is a sellers’ market.

The Market Now

Overall inventory is pretty stable.  There are a couple of cities like Moss Beach where there’s just one house under contract but 23 for sale; that’s what makes it show 23 months of inventory.

South City is up  a little.  They’ve had more houses in contract than they had for sale.  This is the first time in months they’ve actually had a little inventory.

Remember, real estate is local.  You have to look at it more in depth than this but it’s a quick pic of where we’ve been so far this year.

Popularity: 3% [?]

San Mateo Real Estate Market’s Absorption Rates

The absorption rate is a quick way to see if the San Mateo real estate market is increasing in inventory or declining. It’s just one piece of information used to evaluate pricing. It’s a snapshot of the market.

What you’re looking at is how many months’ inventory there is on the market. The assumption is that it will take X number of months for all of the houses currently on the market to sell. More inventory = longer to sell.

You can also see if San Mateo’s market is a buyer or a sellers’ market. The National Association of Realtors defines a balanced market as one is which there is 6 months of inventory. More than 6 months, it’s a buyers’ market; less is a sellers’ market.

The Market Now

It’s not a surprise to those trying to buy a house right now in Daly City, East Palo Alto, and South San Francisco that there’s very little inventory; and it’s been that way since October of last year.

I called last week to see a house on Holland in San Mateo – and granted it was underpriced – they had gotten 6 offers in less than a week.

It’s difficult for me to be definitive about what the First-Time Buyer Home Credits are doing to those markets with the info I have access to – a little pink calculator and very basic statistics reports from our local Multiple Listing Service.  We’ll have to see what some of the big daddy reporting agencies say.

Need to know how to beat out some of those other home buyers?
call me ~ text me ~ email me
I’m here to help.

Vicki Moore, Realtor
DRE 01234539
RE/MAX Star Properties
Selling San Mateo County Homes Since 1998

Search All San Mateo Homes

Showing properties 1 - 5 of 280. See more city of San Mateo real estate.
(all data current as of 9/2/2010)

Popularity: 4% [?]

This is the San Mateo Neighborhood Real Estate Report for April 2010.  Statistics are fascinating to me.  I can compare them one way and then the other for hours.

April 2009 compared to 2010 is significantly different in a few ways.  The number of days for a San Mateo house to sell is down from 109 to 41; homes are selling much more quickly.  The average sales price is up almost $250,000 – not what many buyers would like to see, I’m sure.  707,909 in 2009 while the 2010 average sales price is 952,860.

With those numbers I would have expected available inventory to be down.  With the average sales price increasing by 250k and the days for a home to sell less than half, it sounds like a competitive market.  But Inventory was actually up  from 178 in April 2009 to 211 in April 2010.

Need help buying or selling a house?
call me ~ text me ~ email me
I’m here to help.

Vicki Moore, Realtor
DRE 01234539
RE/MAX Star Properties
Selling San Mateo County Homes Since 1998

Search All San Mateo Homes

Showing properties 1 - 3 of 280. See more city of San Mateo real estate.
(all data current as of 9/2/2010)

1. $279,900 : 688 Mariners Island Bl #112, San Mateo
   
   1 beds, 1 full bath

   Size: 726 sq ft

   Lot size: n/a
   
2. $557,000 : 1103 7th Av, San Mateo
   
   2 beds, 1 full bath

   Size: 1,330 sq ft

   Lot size: 4,750 sq ft
   
3. $189,900 : 155 N El Camino Real #11, San Mateo
   
   1 beds, 1 full bath

   Size: 710 sq ft

   Lot size: n/a
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Popularity: 7% [?]

The San Mateo home sales report shows quite a few more houses coming on the market during March:  83 new listings compared to February’s 71.  The bigger showing is in sales;  February had just 25, while March had 45.  Showing, once again, that as we get passed the holidays buyers get serious.

Did the home buyer credit do any good?  Just look at the number of houses sold it seems to have.  March 2009 had just 28 sales.

It’ll be interesting to look back at the May closings to see if the California home buyer credit had any impact on San Mateo real estate.

Search Homes In Your San Mateo Neighborhood

Showing properties 1 - 3 of 280. See more city of San Mateo real estate.
(all data current as of 9/2/2010)

1. $279,900 : 688 Mariners Island Bl #112, San Mateo
   
   1 beds, 1 full bath

   Size: 726 sq ft

   Lot size: n/a
   
2. $557,000 : 1103 7th Av, San Mateo
   
   2 beds, 1 full bath

   Size: 1,330 sq ft

   Lot size: 4,750 sq ft
   
3. $189,900 : 155 N El Camino Real #11, San Mateo
   
   1 beds, 1 full bath

   Size: 710 sq ft

   Lot size: n/a
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Popularity: 7% [?]

Here is the Westwood Knolls San Mateo Real Estate Market Report for January 2009 brought to you by the San Mateo Real Estate Blog.

Westwood Knolls

This neighborhood includes homes between Alameda De Las Pulgas and El Camino Real to the east; West Hillsdale Blvd and streets adjacent to Las Casa to the south.

Westwood Knolls Real Estate:
Available, Sold and New Listings, by Month 2009

The Wrap Up

The high median price was in June at $848,000. The highest percentage of list price to price received was 103.15% in November; the low was in January, 95.45%.

The most expensive house to sell in the area was 3511 Michael Drive which sold for $1,025,000; the lowest was 43 Burbank at $569,000.

Want to sell your property? Don’t know where to begin?
call me ~ text me ~ email me
I’m here to help

Vicki Moore, Realtor
DRE 01234539
Alain Pinel Realtors
650.888.9268

Find Out How Much Your Westwood Knolls Home is Worth!

Search All Available Park Western / Hillsdale Homes

Showing properties 1 - 3 of 5. See more Park Western Subdivision/Hillsda community real estate.
(all data current as of 9/2/2010)

1. $699,950 : 400 Terrace Wy, San Mateo
   
   2 beds, 1 full bath

   Size: 1,360 sq ft

   Lot size: 4,968 sq ft
   
2. $758,000 : 3115 Hacienda St, San Mateo
   
   2 beds, 1 full, 1 part baths

   Size: 1,340 sq ft

   Lot size: 5,076 sq ft
   
3. $899,500 : 139 Hickory Ln, San Mateo
   
   3 beds, 2 full baths

   Size: 1,530 sq ft

   Lot size: 7,900 sq ft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Popularity: 4% [?]

Here is the Parkside San Mateo Real Estate Market Report for 2009 brought to you by the San Mateo Real Estate Blog.

Parkside

On Parkside’s north end is bordered by Pershing, Van Buren and Crestview.  Highway 101 borders the west side; Marina Lagoon marks the east border.

Joinville and Parkside Aquatic Parks are in the neighborhood as well as Parkside Elementary and Bayside Middle School.

Parkside Real Estate:
Available, New and Sold Listings, by Month 2009

The Wrap Up

The most expensive home sale in Parkside was 1745 Lake Street at $960,000.  Lake is a 3 bedroom, 2 bath of 1,620 square feet. The least expensive 1819 Hamlet which is also a 3 bedroom 2 bath.  Hamlet, a “contractor’s special,” sold for $380,000 – $19,000 under its asking price.

Available Parkside Homes

Showing properties 1 - 1 of 6. See more Parkside community real estate.
(all data current as of 9/2/2010)

Thanks for reading the San Mateo Real Estate Blog.

Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.

Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.

Popularity: 8% [?]

Here is the Laurelwood San Mateo Real Estate Market Report for 2009 brought to you by the San Mateo Real Estate Blog.

Laurelwood

Laurelwood is bordered by Highway 92 and Sugarloaf Mountain Open Space.  The neighborhood is also home to Laurelwood Shopping Center.

Laurelwood Shopping Center Real Estate:
Available, New and Sold Listings, by Month 2009

The Wrap Up

The most expensive house to sell was 3129 Allanhill at $1,285,000; the least expensive 3365 Shasta Drive for $839,000.

The high median was in November, $1,91,250; the highest percentage of sale price to list price received was 100.76%.

Available Laurelwood Homes

Showing properties 1 - 1 of 15. See more Laurelwood Etc. community real estate.
(all data current as of 9/2/2010)

1. $899,000 : 1917 Parkwood Dr, San Mateo
   
   2 beds, 2 full baths

   Size: 1,700 sq ft

   Lot size: 8,250 sq ft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Thanks for reading the San Mateo Real Estate Blog.

Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.

Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.

Popularity: 7% [?]

Here is the Homestead / Husing San Mateo Real Estate Market Report for 2009 brought to you by the San Mateo Real Estate Blog.

Homestead / Husing

Homestead / Husing between Alameda De Las Pulgas to the west and El Camino Real to the east; Hobart is the north border, Highway 92 marks the southern end.  Borel Park is at the southwest corner of the neighborhood.

Homestead / Husing Real Estate:
Available, New and Sold Listings, by Month 2009

The Wrap Up

The most expensive house to sell in the neighborhood was 1531 Locust at $1,293,500; the least expensive 530 Borel for $625,000 – $36,000 over its asking price.

The high median was in May, $1,238,000; the highest percentage of sale price to list price received was 99.26%.

All Available Homestead / Husing Homes

Showing properties 1 - 3 of 7. See more Homestead / Husing Subdivision community real estate.
(all data current as of 9/2/2010)

1. $930,000 : 131 Madison Av, San Mateo
   
   3 beds, 2 full, 1 part baths

   Size: 1,831 sq ft

   Lot size: n/a
   
2. $1,089,999 : 1431 Alameda De Las Pulgas, San Mateo
   
   3 beds, 2 full, 1 part baths

   Size: 1,830 sq ft

   Lot size: 5,000 sq ft
   
3. $1,099,000 : 1420 Shafter St, San Mateo
   
   3 beds, 2 full baths

   Size: 1,930 sq ft

   Lot size: 5,000 sq ft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Thanks for reading the San Mateo Real Estate Blog.

Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.

Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.

Popularity: 7% [?]

Here is the Eastern Addition San Mateo Real Estate Market Report for 2009 brought to you by the San Mateo Real Estate Blog.

Eastern Addition

Eastern Addition’s boundaries are Peninsula Avenue at the north end, 4th Avenue at the south.  It’s west border is marked by El Camino Real, the east side is Delaware Street.  The downtown is thriving with great restaurants like King Fish and a 12 screen movie theater.

Eastern Addition Real Estate:
Available, New and Sold Listings, by Month 2009

The Wrap Up

The most expensive house to sell in Eastern Addition / Downtown was 321 Elm at $1,165,000; the least expensive 415 East Santa Inez for $350,000.

The high median was in October, $1,100,500; the highest percentage of sale price to list price received was 102.43%.

All Available Eastern Addition Homes

Showing properties 1 - 3 of 29. See more Eastern Addition/Downtown Area community real estate.
(all data current as of 9/2/2010)

1. $468,900 : 427 N Claremont St #4, San Mateo
   
   3 beds, 2 full, 1 part baths

   Size: 1,380 sq ft

   Lot size: n/a
   
2. $315,000 : 1 Baldwin Av #218, San Mateo
   
   1 beds, 1 full bath

   Size: 930 sq ft

   Lot size: 2.00 ac
   
3. $295,000 : 1 Baldwin Av #702, San Mateo
   
   1 beds, 1 full bath

   Size: 930 sq ft

   Lot size: n/a
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Thanks for reading the San Mateo Real Estate Blog.

Vicki Moore, Realtor
Alain Pinel Realtors, specializing in San Mateo, CA Real Estate.

Need real estate help?
Contact me at 650.888.9268 or Vicki[@]CallVicki.com.

Popularity: 8% [?]