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Bye Bye, Foreclosures

Not seeing many bank-owned homes for sale anymore. A good sign!

As of today, there are 17 homes for sale in San Bruno and none of them are bank-owned.

Most of them are in the Crestmoor area and over $700,000. It's a good sign that there aren't any bank-owned homes available because that means that people are not going into foreclosure. 

It is a seller's market right now which means the supply is low but the demand is high. Most homes are selling with multiple offers and for more than the list price in some cases. We are seeing this all over the Bay Area, particularly in the low -and mid-range prices.

A few years ago, more than half of the housing inventory was in foreclosure. Nowadays, it is nice to see that people are able to stay in their homes, refinance to lower interest rates or sell for a profit. 

Karin Cunningham, "Your San Bruno Neighborhood Specialist," is a Realtor with Prudential California Realty. She can be reached at 650-438-3504 or karinc@prucal.com. Visit her on the Web at www.KarinCunningham.com or check out her blog, San Bruno Life, on Facebook.

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