Finally, the Chronicle gave all of us some good news with their front page article in yesterday’s paper. There are areas on the Peninsula that have homes which have increased in value. It was acknowledged that the Bay Area has many micro markets. It really is important to know your neighborhood and local Real Estate market.For a buyer, a ten mile drive south on El Camino Real from Daly City to Millbrae or Burlingame could be the difference between lots of inventory to competing in a multiple offer situation. If you want to check your home’s value to get a general idea, check the Zillow website. But if you need to know what your home is really worth, make sure you know about the current inventory, days on market and number of sales in your specific neighborhood.

www.zillow.com

The Senate passed their version of an economic stimulus package today. The final bill apparently does include increased loan limits for conforming loans to as high as $ 729,750. This means good news for buyers on both coasts. The President is expected to sign the bill by February 15th. The increase will last through December 2008. Enough time for home owners to refinance or for new buyers to purchase a home with historic low interest rates.

We recently took a survey in our San Mateo office about the #1 problem new homeowners encounter after the close of escrow. Sewer line problems seem to be on top of the list. We are talking about the line from the house to the sidewalk which is the responsibility of the owner. Most common are sewer lines in homes which have been vacant for a while, or homes that were occupied by one person and now have a family of four moving in. Instead of a couple flushings a day, the system now needs to handle showers, the dishwasher and the washing machine sometimes all going at the same time. Burlingame and Hillsborough are the only cities on the Peninsula who require a sewer lateral test prior to a property changing hands. If the test was done in Burlingame within the last 10 years, or the lines were replaced/repaired within the last 25 years than no additional testing is needed. Buyers should have the sewer lateral test done, it might save them thousands of dollars later.

To find out if the Burlingame property you are interested in has been tested go to:www.burlingame.org

The home on 1266 Drake Avenue in Burlingame is the most expensive house for sale in Burlingame. Currently it is listed for $ 2,458,000 by Monica Seeger/Cashin www.monicaseeger.com. This home has been on and off the market for several years. With 5 bedrooms/and 4+ bath and 4,030sqft of living space it offers room for a large family. The media room set-up and other well defined areas in the home will meet today’s family needs. New exterior paint has given this 85 year old home a much needed face-lift.