My clients are feeling beaten up in this market and I can’t blame them. I am feeling run down too. It’s tough out there. There are few available houses in Millbrae, Burlingame and the surrounding areas on our peninsula worth buying and those that are available are having “bid wars”. But the silver lining hopefully is that soon, hopefully, there will be more inventory. We all have to know the game and play it well. Gone are the days of underbidding. Buyers have to know that with short sales, the wait is long. With regular sales, the sale goes fast. Buyers have to know what they are up against and proceed accordingly. Get pre-approved, decide on what you want, willing to settle for and trust your agent. Be prepared to jump when the agent says “jump”. You don’t have to say “how high”. Just be ready to do what needs to be done to get the house – have your documentation ready, pre-approvals, inspectors picked out, monies lined up, etc. Mostly, hang in there and keep going forward. Don’t stop and perseverance will prevail.
In this lovely area of Millbrae, as an agent and homeowner, I dont feel that our areas have really taken that much of a hit in this down market. Most prices have been pretty stable. We will be seeing slight increases again and the appreciation in the Millbrae real estate will probably resume If you are waiting to move into Millbrae and want to enjoy the appreciation of Millbraes real estate ownership, start looking now and get moving before you become outpriced again.