6 beds, 3.5 bath
4 beds, 2 baths
Home Depot & Coldwell Banker Real Estate teamed up to provide you with the ultimate guide to kitchen remodeling.
Step One: How to Plan Your Kitchen Remodel
Taking the time to plan a new kitchen design is arguably the most important step in the remodeling process. A clear, well-conceived plan will guide you through each phase of the remodel and help ensure that the work progresses smoothly and stays on budget. In our first post, we show you the steps to take and provide you with some valuable remodeling design tips. Read It Here
Step Two: Creating a Budget
After deciding on a plan for your kitchen remodel, the next step is assigning a budget to the project. The easiest, most accurate way to establish a kitchen-remodeling budget is to break down the project into smaller jobs. In post #2, we show you which major remodeling expenses to calculate and other ways to keep your costs on target. Read It Here
Step Three: Put On Your Hard Hat (And Thinking Cap) Time for Construction Planning!
Kitchen-remodeling projects should follow a logical work sequence, as those that don’t are subject to problems down the line. In post #3, we provide a typical progression of work for a moderate remodeling project. Read It Here
Step Four: Picking the Right Appliances
A key component of any kitchen remodel is selecting new products that fit with your design, budget and construction timeframe. In our final post, we take a brief look at six categories of kitchen-remodeling products. With several models, options and variations within each category, picking the right product for your specific kitchen can seem daunting. However, it’s actually a lot of fun and easier than you might think.
May 25, 2015, 05:00 AM By Austin Walsh Daily Journal
As the weather heats up over the coming months, local real estate professionals are getting ready for a hot summer as the market continues to sizzle throughout San Mateo County.
Average sales prices for homes throughout the county climbed to $1.6 million at the end of April, nearly $100,000 higher than they were at the beginning of the year and nearly $200,000 more than they were a year before, according to data from the San Mateo County Association of Realtors, or SAMCAR.
The median value of local home sales drove upwards as well, to roughly $1.2 million at the end of April, a $200,000 hike from the median sales price one year ago, according to the report.
And as many families prepare to put their house on the market over the spring and summer months, experts claim there will likely be no cooling period for a housing market driven by a thriving local economy, said Quincy Virgilio, a Realtor with Keller Williams and chairman of the board of MLS Listings, a real estate listing agency.
“It’s out of this world,” said Virgilio. “And the market will continue to do this as long as the economy is humming the way it is.”
It’s not unheard for buyers to place bids $100,000 to $200,000 higher than the asking price to increase their chances of landing a deal in a market with an ever diminishing housing stock, he said.
The pressure to overbid in an extremely competitive market creates anxiety for some potential buyers, who may be uncertain whether their assessed home value will rise to reach the purchase price, he said.
But Virgilio said it is likely that concern is unfounded.
“There is some fear in the marketplace from buyers that we are entering another bubble, but there is no economic data that support that,” he said.
Virgilio said it could be reasonable to expect the market to drive upwards for as long as the next three years, which could push prices up to 25 percent higher, and leave the average sales price of a home in the county near $2 million.
“Sellers are extremely happy,” he said.
Median sales prices of single-family homes in the city of San Mateo have increased $300,000 over the past year, to $1.3 million at the end of April.
The median is the middle point of the market, whereas the average is the result of adding the prices and dividing the number of the homes.
San Mateo trails neighboring communities such as Belmont, Foster City and Burlingame, all of which have median sales prices through the end of last month above $1.5 million.
Burlingame has joined an exclusive club of cities in the county that have a median sales price of at least $2 million or higher, which also includes Menlo Park, Atherton, Hillsborough, La Honda, Woodside and Portola Valley.
Michael Verdone, president of SAMCAR and a Realtor, noted that homes in elite regions of the market are available, while much of what might be considered the more affordable housing options are being snapped up as soon as possible.
“With starter homes, people are just scrambling to be a player,” he said.
Verdone said there is not a local housing stock sufficient to quench the seeming undying demand to live on the Peninsula.
The local headquarters of technology titans such as Facebook, Apple, Google and a variety of other successful web-based companies who compensate their employees handsomely have played a substantial role in keeping the housing market blazing throughout the county and across the greater Peninsula region, said Virgilio.
Many of the employees of these companies, at times even colleagues, are often the ones bidding against each other in competition for purchasing a new home, he said.
Virgilio said he has clients employed at some of these notable technology companies who relocated from across the country and are experiencing severe cases of sticker shock in regards to their inability to afford a home in San Mateo County.
“It’s just nuts,” he said.
And for those who cannot stand the heat, many desirable alternatives still exist elsewhere, said Virgilio.
“There are still some good buys in California,” he said. “It’s just that the Bay Area is so darn expensive.”
If you are considering a 1031 Exchange in the very near future, you should consult your exchange facilitator or qualified tax advisor.
The “Tax Reform” tab has something about the possibility of 1031 exchange being repealed?
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