San Mateo County Real Estate Conditions June-July 2007

During a speech our appraisal office gave to an audience of Mortgage Brokers and Realtors last week it became apparent that many San Mateo County Real Estate Professionals are worried about their future. With many large mortgage lenders shutting their doors money is getting harder to obtain for people looking to refinance or purchase a home. With money becoming tight and listings rising for the area, very few cities in the Bay Area have been unaffected by the so called housing slump. San Mateo County thus far has been pretty lucky and the city of San Carlos posted higher median and average house sales from the months of June t0 July as inventory rose slightly. The average days on the market was under 30 which is impressive when compared to the rest of the country. Mortgage related Appraisal work has slowed for us and many other local appraiser’s towards the end of this month as it appears many borrowers are waiting to see what happens in the near future. Sales and Listing stats will be in on the 1st of September and we will have an update of changes in the San Mateo Market soon. If you would like to sign-up for our monthly newsletter please do so below or visit our site at www.dmcappraisals.com

Subscribe to our newsletter