San Mateo-Foster City Real Estate News

I truly never thought I'd ever see the day ever again.  FHA loans available for purchasing a property in San Mateo County.  Fantasy Island has finally met the rest of the country and buyers can apply for a conforming loan.  But, only through the end of 2008, so if you are really thinking about buying a house in our County, now is the time to strike! 

FHA loans are normal almost everywhere else in the country.  But of course, what we sell for $900,000 here you'd spend $250,000 almost any where else.  Now you can get a conforming loan for $729,750.  If you have some money to put down, like the $180,000 you should have to have 20% skin in the game, you'll qualify!  Whoo Hoo!  Who would have ever thought?  Certainly not me.

It's funny because there are quite a few nice houses for sale under $900,000 and they aren't Short Sales, either.  They're in San Mateo, Burlingame, Belmont, San Carlos, and Millbrae.  We're just beginning our spring selling season when homes begin to come to market and if you are thinking about making a move, or buying your first home, you will likely not see an FHA loan on the horizon next year unless you're moving from California, that is.  Assuming you have a secure job, what are you waiting for?

My job is to help you figure out what it is you want and need.  San Mateo County has a median home price of $995,000.  A conforming loan of $729,750 is a big piece of that price.  The loans were just opened up to California.  The clock is ticking.  December 31, 2008 is when the coach leave the Island.  You don't want to be left with a pumpkin, do you?

Related Posts