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San Mateo, Calif., March 4, 2008 – Everyone has read the latest news predicting the total collapse of the housing market. Potential buyers and Investors nationwide are holding their breath and waiting for their time, waiting for the bottom to fall so they can take advantage of low market. Vendors are shell shocked and worried, how to sell their house now?
But If you are a prospective buyer or seller in San Mateo County, you may want to reassess your strategy. As David Lereah made famous in his book of the same title, "All real estate is local" and local buyers and sellers need to understand the subtleties of their own markets.
County of San Mateo, California is a leader in performance and this is no accident.
While it is true that the number of sales is off compared to past highs and the stock of unsold homes is slightly increasing, industry analysts have described the 2008 January average selling price in San Mateo County was 1,206,153 $. When compared with an average sale of $ 1,109,303 for January 2007 and $ 1,081,979 for January 2006, it is clear that the housing market is still looking steady and strong.
The San Francisco Peninsula has obvious benefits for surviving the recession of recent years. The market here has never been subject to either the building and there is a preponderance of subprime loans. These two factors alone make San Mateo County the market's most robust housing in California, if not all of the United States.
Let's talk long term, however, housing values based on two factors: the creation of jobs and housing supply. The greatest satisfaction is in markets where the number of jobs created exceeds the number of dwelling units are produced. San Mateo County is a perfect example of this formula, but it is also more to the story.
The peninsula has a strong tradition of positive and sometimes dramatically powerful satisfaction dating back several decades. A collection of unique features are attributable the strength of housing in the county.
First, San Mateo County has an acute shortage of power accumulation territory. Industry Standards, County Out is actually built. Most of the construction of new homes is "in-filling" (the phenomenon where the manufacturer is a property with an old worn-out structure, he demolished and built a bigger, better structure, higher value). This raises the overall value of the area and increases the base tax.
Then, the county is locked by geographical constraints well defined. The city of San Francisco to the north, the suburban sprawl Silicon Valley in the south Pacific Ocean to the west and the east bay does not provide room to grow.
Add the best labor market in the U.S., driven by capital industry tech-rich, and you can begin to see how San Mateo County attracts some of the best talent in the world (with their paychecks solid).
In addition, it is an area loaded with entertainment, recreational and cultural amenities. It is practice in one of the world's cities, San Francisco, and nearly two phenomenal universities, Stanford and the University of California.
Now add a Mediterranean climate and it is clear why San Mateo County will continue to prosper.
According to media reports indicating that "the housing market "is collapsing are generalizations. Pockets of resistance and stability exist and are recognizable. San Mateo County California is alive and well and are well placed to exploit the future. While it can not be denied that consumer confidence is significantly affected media commentary, it is important not to ignore the facts. San Mateo County, California, is still one of the best and most stable places in live, work and own a house in the United States.
Thus, buyers start looking. The best time to find a bargain is all times you're ready to take the time to find it. And, sellers, do not forget to breathe.
About the Author:
Raymond Stoklosa has been in real estate on the San Francisco Peninsula since 1978. With over thirty years of experience, he currently coaches his clients through their transactions as the Managing Broker and co-owner of the RayChel Realty Group at Keller Williams Realty San Mateo. Raymond is also the author of LivingWellinSanMateo.com
About Raymond Stoklosa
Raymond Stoklosa is Co-Owner and Managing Broker of The RayChel Realty Group at Keller Williams Realty in San Mateo. He has been representing home buyers and home sellers in San Mateo and Santa Clara Counties since 1978.
Contact:
Raymond Stoklosa, Managing Broker
The RayChel Realty Group – Keller Williams Realty San Mateo
650-655-2500
http://www.livingwellinsanmateo.com
Article Source: ArticlesBase.com – San Francisco Peninsula Housing Market Still Looking Steady and Strong
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