San Mateo saw an amazing increase in property values in 2012. There were 677 single family homes sold during this time, and 358 condo/town homes were sold as well.
I had the experience of having to write 8 offers on different properties for a family until we finally had one accepted. Even with all the rejected offers we had to be very cautious of the chance of over paying for a home.
2 bedroom Condos in a healthy HOA were the most amazing and difficult to purchase. These homes are typically a first time home buyer's choice and/or a person(s) wanting to downsize. This fed into to a multiple offer situation. Many all cash offers were accepted over an offer with a loan contingency, even if they were slightly lower. Why? Even though the bottom line is very important to a seller, an all cash offer has less risk of a buyer backing out of a transaction.
Appraisal issues were at the top of the list of reasons why a home sale could fall apart. A few years back an appraiser would sometimes just to a "drive by" Now, an appraiser is held accountable for the correct value of a home. This is a good rule, especially for first time home buyers obtaining a home loan.
If you are selling your home in 2013, it's a good idea to interivew at least 3 Real Estate professionals in your area. You should also be sure that as a prospective buyer has an excellent first impression of your home by following these simple rules:
- Be sure that the front yard has been cleared of debris and visitors are met with a splash of colorful plants. The driveway should be swept daily
- If your exterior mail box is old and dented, replace it with a fresh new one.
- The exterior light fixture also should be replaced with a shinny new one
- Seasonal decorations should be removed
- A freshly painted front door is always a plus
- All of the above suggestions are amazingly inexpensive, and will really help with "curb Appeal"
