The San Bruno real estate market has been reeling from the recent gas pipeline explosion that rocked the area less than a month ago. Many San Bruno homes for sale were destroyed, while the rippling effects of the blast continue to echo throughout the market. According to a September 30, 2010 report from the San Francisco Examiner, “The gas pipeline explosion that devastated a San Bruno neighborhood is likely to also deal a blow to home values in the area, though how big the drops will be and how long they will last is anybody’s guess, local real estate experts say. Since the Sept. 9 blast that killed eight people and destroyed 37 homes, there have been no home sales in the affected Crestmoor neighborhood, so it’s difficult to gauge the effect on the market, officials say. Still, two longtime Realtors predicted home prices in the immediate area will dip in the aftermath of the disaster. The market will probably recover over the long term as the area rebuilds, they said. “On that neighborhood, yes, it’s had a devastating effect on home values,” said Larry Franzella, a former mayor and partner at Prudential California Realty in San Bruno. “I think it’s probably temporary, and is temporary six months or two years? I can’t answer you.” The reasons for a decline are evident, he said — blackened trees, a gaping hole in the ground, empty lots.”

San Bruno homes for sale and the rest of the Bay Area got a small dose of good news when Bank of America temporarily stalled the sale of foreclosures earlier this month. An October 9, 2010 report from the San Francisco Chronicle stated that “Bank of America announced Friday it will suspend sales of foreclosed homes nationwide, dragging California into the latest chapter of the mortgage crisis and raising questions about whether the state's tenuous housing recovery would suffer a setback as a consequence. The move came one week after BofA and two other large banks said they were freezing foreclosure sales in 23 other states to investigate the sloppy preparation and review of documents, including paperwork that identifies the rightful property owner.”