Happy Holidays! Housing Market Update

The holiday season is in full swing! I’ll be finding myself spending time with friends and family, reminiscing on the year and making plans for the future, and part of the reminiscing has brought me to you. I thank you for all your support over the past 4 years of my real estate career. I hope you feel as though I’ve been there for you the way you’ve been there for me.

Wishing you and yours all the best for the holiday season and a fantastic start to 2009, the year we push this economy back into high gear!

Market Recap & Prediction: I’m expecting a huge rush of people buying in January and February because of the government dropping mortgage rates.

· The government is considering dropping rates significantly in January for loans under $417K!!!! Contact me about this!!!!
· Inventory levels continuing to drop across the county
· Average closings at 170/week for past 8 weeks
· The market is beginning to slow down for the holiday season, so it’s a great time to get a deal

The housing stats I’ve reviewed and interest rates below are consistent with the beginning of the holiday season. We still have about 6 and a half months supply of housing. In this type of market, deals can be made. The buyers in this market can negotiate great deals and if you are purchasing for the long term, now is a great time to purchase when prices are low and interest rates are desirable.

Also, I have a client who is looking for someone to purchase his condo and then turn around and rent it to him. The property is right next to Ebay and it should sell for about $490K. He is willing to pay above market rent for it while he stays there. If you are interested in a turnkey investment property like this please contact me.

"Courage is doing what you're afraid to do. There can be no courage unless you're scared."
* Eddie Rickenbacker (1890 - 1973)

Enjoy the rest of your week and if you know of a friend, co-worker, family member or even a stranger who really wants to buy a piece of property and needs some motivation, or accountability, let me know. I’ll be sure to help them get what they want.

The table represents aggregated values based on MLS data for the specified date.

I Wish I Had Bought Then! Housing Market Update

This is the type of Real Estate market that two years from now everybody is going to say, “I wish I had bought then!” All the factors are lining up for the next six to twelve months to be that year. Also, with concerns of inflation on the horizon consider this, if inflation does devalue our money then house prices, along with the price of almost all other hard goods will increase in value, and the buyers who make purchases in the next twelve months will benefit tremendously.

Market Recap:
· Inventory levels dropping across the county
· Average closings at 195/week for past 6 weeks
· The market is beginning to slow down for the holiday season, so it’s a great time to get a deal
· The new loan limit of $729,000 will be expiring December 31^st, 2008 and will be changed to $625,000 beginning in 2009
· The elections are finally behind us!

The housing stats I’ve reviewed and interest rates below are consistent with the beginning of the holiday season. We still have about 6 and a half months supply of housing. In this type of market, deals can be made. The buyers in this market can negotiate great deals and if you are purchasing for the long term, now is a great time to purchase when prices are low and interest rates are desirable.

"The policy of being too cautious is the greatest risk of all."
* Jawaharlal Nehru (1889 - 1964)

Enjoy the rest of your week and if you know of a friend, co-worker, family member or even a stranger who really wants to buy a piece of property and needs some motivation, or accountability, let me know. I’ll be sure to help them get what they want.

The table represents aggregated values based on MLS data for the specified date.

Housing Market Update - The Truth

The truth about the Santa Clara County Housing Market:

· Inventory levels holding constant for past 6 weeks
· Average closings at 220/week for past 6 weeks
· No significant changes between September ’07 & September ‘08
· The market is moving toward stability for at least the short term
· The new loan limit that Bush put into place earlier this year will be expiring December 31^st, 2008 and will be reverting to $625,000.
· I have had the pleasure to help 2 more buyers purchase in the past 60 days.

The housing stats I’ve reviewed and interest rates below show a market trend in the direction of stabilization. We currently have about a 6 and a half months supply of housing. In this type of market, deals can be made. It is uncertain where the trend is heading, but if you are purchasing for the long term, now is a great time to purchase when prices are low and interest rates are desirable.

"Patience has its limits. Take it too far, and it's cowardice."
* George Jackson (1941 - 1971)

Enjoy the rest of your week and if you know of a friend, co-worker, family member or even a stranger who really wants to buy a piece of property and needs some motivation, or accountability, let me know. I’ll be sure to help them get what they want.

The table represents aggregated values based on MLS data for the specified date.

If the table above does not appear you can click here to view it over the web.

Housing Market Update

Buyers are in a position to heavily negotiate prices in this market. Over the past 12 weeks I have helped 7 buyers purchase property, and when there were no other offers on the home, or if it was on the market for longer than 30 days, or if it didn’t make a phenomenal first impression, my clients got amazing deals. Two of my clients purchased property which appraised for higher than they paid (instant equity).

Knowing how to negotiate is more important now as compared to prior years because sellers don’t just want the highest price. They want the buyer who will close the transaction, and the better you can display confidence in closing, the higher the chances your offer will be accepted. Conversely, while representing sellers, it is important to know how to make buyers fight for your property amongst themselves. When this is achieved you are assured that you have obtained the highest price and the greatest likelihood your buyer will close the deal.

Santa Clara County Market:

· Inventory levels falling for past 5 weeks

· Average sales at 415/week for past 12 weeks (Peak in 2005 was 550)

· The drop in supply is a seasonal change, but the increase in sales is NOT seasonal

· This indicates that the market is moving toward more competition for buyer’s and home prices edging upward

· This change is occurring very slowly, but it is a change nonetheless

The housing stats I’ve reviewed and interest rates below are showing a market trend in the direction of stabilization. Where it will go next nobody can know for sure, but if you are purchasing for the long term, now might be a great time to make that move and get in on the trend early before it fully develops.

"Our imagination is the only limit to what we can hope to have in the future."
Charles F. Kettering (1876 - 1958)

Enjoy your weekend, and if you know of a friend, coworker, family member or stranger who really wants to buy a piece of property and needs some motivation, or accountability, let me know. I’ll be sure to help them get what they want.

The table represents aggregated values based on MLS data for the specified date.

If the table above does not appear you can click here to view it over the web.