depends on the type of remodeling and material used...give me a call for a reference to a good local general contractor
$$$BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%$$$
Flavio Tejada, MBA-Finance, Realtor, Broker/Owner
Web Reference: http://americarealtyonline.com/... more
about $350-$400 per square foot but it really depends on your specific needs...you need to speak with a general contractor and an architect
BUYER CASH REBATE 50%-60% / SELLER DISCOUNT 50%
Flavio Tejada, MBA-Finance, Broker/Owner, Realtor
Web Reference: http://americarealtyonline.com/... more
Based on the information provided and the fact that the subject property has "single family" status there is every indication that you would encounter difficulty. There would likely be considerable code adjustments and zoning issues with which to deal with.
The best source for accurate information will be via the Hillsborough municipal services.
Both communities suffer from airport noise during certain times of the year and under certain weather conditions. We live near SFO and when it's foggy at night, the sound from the planes taking off bounces off the low cloud ceiling and is heard everywhere around the airport, north and south. When there are major storms in the winter, and winds are blowing certain ways, the planes must take off towards Millbrae and Burlingame and make sharp turns over this highly populated area. This doesn't occur very often, though. As for San Mateo and Hillsborough, no air traffic from SFO flies over these communities directly at low altitudes. Airplane noise is muted around these areas and is not something that is really objectionable by local residents. There are no real estate forms alerting buyers to noise patterns in either Hillsborough or San Mateo, these forms are for San Bruno, Pacifica, South San Francisco and Daly City only.... more
You have gotten a thorough explanation from Steve Ornellas. I would only like to add that this explanation applies to all California residential real estate. So, everyone has the same Ad Valorem Tax or General Tax Levy throughout California, this is not unique to Hillsborough. Generally, the initial Ad Valorem is 1% of the purchase price (if sold at fair market value). When you look up the other types of assessments for any particular CA parcel, in this case they can be seen via the link to the San Mateo County Tax Recorder's office, these assessments usually follow from owner to owner without a change at the time of sale.
If you do not have a particular parcel in mind, Title Companies usually estimate the property taxes at 1.25% in order to allow for both the Ad Valorem and other assessments. Note that this is only an estimate and that looking up a particular parcel will get you much closer to what is found on the tax bill.
If you have further questions about purchasing in Hillsborough, please feel free to contact me directly.
Linda Scheifler Marks
Alain Pinel Realtors - Burlingame
e-mail: click on my name link next to the photo above and then select "contact me"... more
I think we've spoken before and I've shared many of my off market Listings (if not feel free to contact me to do so). I have access to homes with approved plans to build approximately 4000-5000sf homes for low $2m's or even "build to suit" for low $4m's.
I agree with the differences in the areas of Hillsborough, but these are all on half acre level lots.
When I look at Hillsborough, I Look at the city as a whole; not just properties over $2,000,000. As of Monday, there were 75 Active listings in the city of Hillsborough ranging from $18,000,000 to $1,064,000 While there is a a rising number of REOs (1-2 pop up occasionally) in Hillsborough many people are trying to buy up in a down market.
Like anywhere else, homes that are priced right and marketed effectively get sold. Month to date (as of monday): 13 homes are in pending status and 7 sold. That's not that bad.
Hillsborough has been hit, but not badly. So I wouldn't say that the downturn will affect "Hillsborough more agressively". If you read my stats on TeamTapper.com for the local area (Redwood Shores to Burlingame) the number of newer listings is leveling off, pending sales are up significantly, and sold homes are now also starting to level off. Things are looking up!
Now, I have to address the comment from "Goat". You will not see homes in hillsborough for $200,000 unless maybe if it is a 10'x10' lot. Our area, California, and that United States will and is making a comeback from this economic downturn. (Looks like the anti-patrioritic pessimists from Zillow found their way to Trulia).
Not sure what the last poster was alluding to in terms of values never declining in Hillsborough. Prices have corrected well over 15%. Adjusted for inflation probably higher. Right now there are 26 properties in Hillsborough that are Bank Owned, NOD's or going to Auction.
10 NOD, 8 going to Auction, 8 Bank Owned. That is unusual for Hillsborough but a reflection of things to come.... more
You can get it lower...that is not an issue. Financing is...most banks will not finance a property until it has a CO or Certificate of Occupancy, meaning that it is move-in ready.
I bought a brand new house, knowing that I was putting in my own flooring, counters, and bath, I tried to buy it in a less than finished state, instead I simply had to remove all of the crap to put in my own stuff. More money, more work, and more donations to the local 2nd hand hard ware store.
The bottom line is that while this may look like a great home to try to buy and complete, look at the financing options before you get to deeply involved and start paying contractors and handymen for opinions.
Good look and I hope this helps!!!.
I hope this helps!!!
Gary De Pury
Bay Vista Realty
Chairman, Communications Committee
Greater Tampa Association of REALTORS
Director, Florida Association of REALTORS... more