Local housing market sees bidding wars again

Housing Market Once Again Favors Sellers

South San Francisco, CA May 24, 2013

Home in San Bruno listed for $489, sold for $660K!

Home in San Bruno listed for $489, sold for $660K!

One of our favorite local realtors, Karin Cunningham for Prudential in San Bruno, posted this photo on her San Bruno Life blog. Cunningham stated, “Can you believe this? 3445 Fleetwood Dr. San Bruno 3bd, 2ba FIXER UPPER, listed at $489,000. sold for ……. $660,000!”

All we could manage was a WOW so it was good others on our Facebook page joined in with their comments and makes us ask;

What do you think of the current housing market locally?

Below are some of the thoughts from other neighbors:

 

Sue Peterson Pirazzi You knew this was coming

Angelina Anderson Medina And that’s exactly why we’re moving out of state.

Maria Palafox With that amount of money, you can buy a brand new 5+rooms and a backyard with a 3 car garage in the East Bay. It’s so expensive in the bay area, yet, we’re all still here.

Stephanie Siaris I consider the price difference money well spent for an 18 minute commute to downtown SF vs. the HOURS my EB colleagues spend commuting…

LuLu Mendez 660 is a little excessive. I just moved to the east bay and really don’t mind the BART ride. Even with my mortgage and the cost of my commute I’m still paying WAY less then what this mortgage would come out to.

Merton Chun Not surprised. Our company had one on Medina that needed cosmetic touchup that sold for more than List Price.

Steve Carey The owner of this house has been paying huge property tax bills. The new owner will pay close to $10k per year just for taxes. Homeownership cannot ever be affordable if the owner loses all he has paid into the house. It is just common sense. If people want affordable housing, direct the government to drop the incredible sums of money required through taxation. Things will never change otherwise.

Steve Carey If you think you are not impacted by property taxation because you rent, ask yourself why you are paying so much for rent? Because the person who owns your house, or apartment needs to pay the government half of your rent in property taxes. The other half goes to the mortgage for the building. The upkeep is a loss out of his pocket. This is why so many houses are “fixer uppers”.

Raquel Quarneri This is a perfect example of why it’s so difficult for young first time home buyers to buy. I guarantee the buyer paid in cash and has no intention of living in it!! House Flippers.

Rebeccamarie Beque MignoneSalaiz This is why I moved to the San Joaquin Valley, although I must say I miss SSF

Cynthia Arias great….. here we go again w people overbidding like crazy.

Carlos A. Presidente Sucker

Leo Galinsky wow..another bubble in progress?

820 Reid Ave San Bruno Asking $589,000 Sold for $676,000

820 Reid Ave San Bruno
Asking $589,000 Sold for $676,000

Karen Tozer Smith That’s why I moved out of the State. You should see what that would get you in Florida. And with no state income tax!

Matthew Klein These prices are truly perverse.

Jackie Wapp I do not feel so bad now thanks

Alexandra D’Vega A HOUSE LIKE THAT IN MY COUNTRY IN AN OK ARE COST $40.000 BUT WITH $660.000 YOU CAN BUY IN MY COUNTRY A LIL ISLAND…AND A SAFE PLACE!!

Everything South City gotta ask, which country Alexandra D’Vega?

Alexandra D’Vega NICARAGUA, C.A !! SECOND SAVE COUNTRY IN CENTRAL AMERICA AND CHEAP!

Jerry Long Before you know it…..$1000000!

Dennis Meloni $660,000 you’ve got to be kidding me! This house in Montana would sell for $250.000.

Everything South City Yeah but Dennis Meloni that would be a hecka commute! Curious – are wages comparable?

Beth Jewell Orofino It’s because the kids get to go to Westborough. . .

Rick David Bolentini Wow, I wouldn’t want that monthly payment.

Rebeccamarie Beque MignoneSalaiz Here that house would be around 60,000 but then again this city has a bad rep

Steve Carey When the government “prints” money, the value of the dollar goes down. It takes a lot of dollars to buy what used to be affordable. Still think the economy is just fine?

Steve Carey Ok … You got a “free” cell phone, but now you have to buy or rent a place to live. Big government sucks big money out of the citizens. Tell your government to stop spending money and sending you the bill every month in property taxes. Maybe then houses will return to a normal price.

Jerry Long Location is everything!

Laura Beeler Cook Wow! Haven’t we been here before?? As someone looking to sell I am not complaining though!

Amanda Kesner-Hays As someone trying to get her family into their first home, this is totally disheartening.

Steve Carey Speak with your votes. Understand what you are voting for.

Randy Quok With tech companies from San Francisco to San Jose, housing prices won’t be cheap on this side of the bay.

Antonio Mora and the majority of buyers are paying cash

John Kevranian A home in Burlingame recently sold $600,000 over asking price.

Everything South City Crazy

John Kevranian Many buyers have gone thru many offers and they have lost out on homes they wanted because of competition in the market place. So the solution is I want that home and I will pay a lot more than anyone else.$$$$$$$$$$$$$$$$$.

Jesseca Carlos I know exactly where this is! Too bad I can’t buy it my damn self…

Hector Anthony Tonarelli damn drug dealers

Whitney Connors-Pasion Oh come on!!!!

Charlene Larson We live in one of the most desirable places, biotech and tech companies with good jobs, low inventory of available homes for sale = insane real estate market!!

Matt DeCamillis Only in the Bay area! Charlene desirable is relative! Beautiful yes, comfortable maybe not.

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