Thursday, July 29, 2010

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Market Information

Inventory Declines, While Pending Sales Continue to Rise. Where are the REOs?

Inventory of single-family, re-sale homes continued falling in August, and it is now down 59.3% year-over-year.  Pending sales, meanwhile, climbed 52.2% from July, and were up 90.7% compared to August 2008.  After rising four months in a row, the median price for homes took a breather last month and was down 6.4% from July, a [...]

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Is the Real Estate Market in San Jose still a Buyer’s Market? Bottomless Answer.

I have been thinking about this topic for the last two months.  Trying to figure out how to get it encapsulated into the shortest blog post as I am constantly being told blog posts should not be too long.  It seems impossible to crunch this topic into a quick read, but I am going to [...]

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Want to buy an REO in San Jose with a FHA loan?

The San Jose real estate market is changing.  Even though the media hasn’t quite got it yet, there are changes that are making it very difficult for first time buyers to take advantage of the market.   The first challenge is that there exist a small number of homes for sale.  Don’t believe anyone that tells [...]

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Loan Modifications: Facts and Fiction

If you are considering a loan modification, please take the time to research how they are properly done.  There are many scams out there.  In fact, the first stop for any home owner considering a loan modification should be the California Department of Real Estate web site where there is a list of loan modification [...]

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Understanding Zillow’s Zestimates and Home Values

It is not uncommon for clients to approach me with a value for a home based on an “zestimate” given by Zillow.  As a real estate professional, sometimes I have agreed with Zillow’s estimate and sometimes I have not.  It can be challenging to explain to a client why the Zillow number is different than [...]

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The Hurdles to Purchasing a Home in Today’s Market

Today’s housing market is like none other we have seen in awhile.  I hear agents talk about how bad the ’80s were but this market is different in many respects.  In order to purchase a home in this market, it is best if the home buyer prepares for potential hurdles that can be placed in [...]

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Alum Rock San Jose – Housing Market at the Bottom?

In the last couple of weeks, I have heard more and more real estate agents and loan officers tell me that they believe we might be near the bottom of the housing market in San Jose.  Their biggest support for this theory is kind of interesting.  It goes like this: ” How much lower can [...]

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Top Downtown Housing Deals in San Jose

The downtown area of San Jose is unknown to many. If you are not a student of San Jose State University, you may not even know there is a downtown San Jose. But for some of us, it is just the right size of downtown. For the most part, you can find [...]

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House Values in San Jose Decline. Should Your Property Taxes?

In 1978, the ballot initiative “People’s Initiative to Limit Property Taxation” was put in place by the voters of California.  This initiative basically restricted the increase in property taxes per year to 1% of value.   The result was a 57% cut in property taxes for California. This initiative also placed a high bar for change [...]

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The San Jose Housing Market and The Stimulus Dud

I look for something positive to occur regarding real estate every day.  For most of 2008,  I embraced the hope that a new president promised.  I started to get excited as I   witnessed sales numbers go up while interest rates lowered to 4.8% in December 2008.  I re-energized when it was official that the Housing [...]

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When it Rains, It Pours: The San Jose Housing Market

It was raining this weekend so I was unable to show houses and had no open houses scheduled.  Therefore my options were to read or study the MLS.  Reading makes me sleepy so the MLS won out.  Each day I hear a great deal from the real estate pundits trying to predict the housing market.  [...]

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Top 5 REO Deals in Santa Teresa – San Jose

I love the Santa Teresa neighborhood.  You have the wonderful Santa Teresa Park with 1,627  acres of trails and the historical Bernal-Gulnac-Joice Ranch that offers visitors a taste of how a ranch was ran in the early 1800s.  Add in La Colina park for weekend soccer, kite flying, and picnics and you have a well [...]

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