Last week I heard the saying that 80% of the statistics quoted are made up on the spot. Certainly, most have heard the saying that “statistics can be made to say anything you want”. The exact reason why most marketing experts look at trends more than a single number stat. With that said, [...]
The median price for single-family, re-sale homes reached its highest level since August 2008: up 34.6% year-over-year to $632,450. The sales price to list price ratio, a good indicator of demand, for single-family, re-sale homes in Santa Clara County was 101% in April. This is the tenth month in a row the indicator has been [...]
The municipalities of Silicon Valley attract a lot of attention and have certainly become the central focus of many home buyers. But more and more, the south end of Santa Clara County is being recognized for its opportunities in housing and general lifestyle. Morgan Hill, San Martin, and Gilroy make [...]
The Fed plans to stop buying mortgage-backed securities the end of March. The general consensus among mortgage brokers is rates will have to rise to attract new buyers of MBS if the Fed does stop buying. After reaching a low last November, the rate for 30-year fixed mortgages has already risen .25%-.375% in anticipation. The [...]
Whether or not you have ever sold a home, there exist challenges to selling a home never seen before. It takes a “cool hand” to make the deal work. Maybe I should say, it takes a lot of cool hands to make it work. There are lot of different ways to sell a house but [...]
Investors are back in the market, and they’re paying all-cash, mostly for property under $500,000. The effect of this is to freeze out first-time home-buyers who have to get a loan. Banks are still chary about providing loans. About the only loans left for first-time buyers are FHA loans. So, while the first-time buyer is [...]
It is not uncommon over the last two years to find a statement on the multiple listing service that reads “no FHA loans 90 day rule applies”. Which basically meant that an investor had purchased a home, most likely and REO (foreclosed home), completed repairs, new carpet, paint and then placed in back on [...]
Sales of single-family, re-sale homes rose 27.9% in December compared to December 2008. With the extension, and expansion, of the tax credit for buyers, we expect sales to be strong through Spring because of the first-time home buyers tax credit of $8,000 for buying a principal residence. First-time buyer is a buyer who has not [...]
The number of “notices of defaults” (NODs) are climbing and climbing. But the reality is the current home buyer is not the one being able to take advantage of these returned homes.
The market barometer that indicates whether or not the Willow Glen area is in a buyer’s market or seller’s market. Currently, there is only about four months of inventory on hand which would lean toward a seller’s market.
