End Of Year Update

The Jumbo-Mortgage Comeback
Banks are starting to make "jumbo" mortgages again. When the credit crisis hit more than two years ago, many banks cut back or stopped making loans for more-expensive homes. Now, smaller and regional lenders are issuing more new jumbo loans and doing more refinancings—as are some big banks that never stopped making them. If the trend continues, it could help…

Proposal to Limit or Eliminate Tax Deduction for Homes Is Unpopular, Could Raise Billions
A proposal to eliminate or scale back the current tax deduction that homeowners receive for the interest they pay on their mortgages is being widely criticized by people across the ideological spectrum. Economists of all stripes and a mortgage banking group say the proposal, which is part of a preliminary plan that bipartisan leaders of President Obama's deficit commission released Wednesday, is either ill-timed…

Market Recap

The chart below shows that cities east of highway 880 are experiencing higher than normal demand for the season.

 

For Comparison: Sales picked way up on the west side of Highway 880. This could be an indicator of prices shooting up.

Santa Clara County Market Snapshot

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

As always I welcome referrals from friends, co-workers or family members looking to buy a piece of property.  I am also happy to provide unbiased sound advice at any time. You can rely on my integrity and follow-through.

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

I provide guidance and build confidence in people, enabling them to reach their full potential and turn their dreams into reality.
Nathan Nahouraii

---

End of Summer Update

Surprise! Banks help more homeowners than Obama
NEW YORK (CNNMoney.com) -- Remember how everyone complained that banks weren't doing enough to help troubled borrowers? Well... Banks have realized that foreclosing on home after home after home may not be in anyone's best interest -- least of all their own. So they've ramped up the number of loan modifications they're handing out to their delinquent clients. Banks are doing nearly…

Fewer U.S. Homeowners Underwater as Calif. Home Prices Rise
The percentage of U.S. homeowners who owe more than their properties are worth declined in the second quarter as tax credits boosted prices in California and foreclosures surged, real estate data provider Zillow.com said. The Seattle-based company found that 21.5 percent of homeowners were underwater on their mortgages, down from 23.3 percent in the first quarter and 23 percent a year earlier, according to a report today. The decline came as property prices in California were…

Market Recap: The chart below shows that cities east of highway 880 are still showing a higher demand than supply. Home prices have risen in these areas as much as 10% in 6 months.

For Comparison: Sales are slowing down on the West side of Highway 880. This could be an indicator of stabilization or prices falling again.

Santa Clara County Market Snapshot

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

As always I welcome referrals from friends, co-workers or family members looking to buy a piece of property.  I am also happy to provide unbiased sound advice at any time. You can rely on my integrity and follow-through.

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

I provide guidance and build confidence in people, enabling them to reach their full potential and turn their dreams into reality.
Warm regards, Nathan Nahouraii Direct: (408) 404-6444 Direct: (650) 352-5322 nathan@nathanproperties.com http://www.nathanproperties.com/

---

If you wish to be removed from our mailing list please reply with “remove” in the subject line, or click here.
Your email address will be removed immediately.

Mid-Summer Update

Mortgage rates hit a new record low: 4.56 percent for 30-year fixed loans
Mortgage rates fell to a new record low for the fourth time in five weeks. But low rates haven't been enough to lift a struggling housing market. The average rate for 30-year fixed loans this week was…

Biggest Defaulters on Mortgages Are the Rich
LOS ALTOS, Calif. — No need for tears, but the well-off are losing their master suites and saying goodbye to their wine cellars. The housing bust that began among the working class in remote subdivisions and quickly progressed to…

Where Did The Buyers Go?We need look no further than the temporary nature of recent buying in residential housing to understand why that buying has dried up. The reason buyers have become scarce in housing is simple: the three pools of buyers which drove recent sales are drying…

Market RecapThe chart below shows that cities east of highway 880 are still showing a higher demand than supply. Home prices have risen in these areas as much as 10% in 6 months.

For Comparison: Sales are slowing down on the West side of Highway 880. This could be an indicator of stabilization or prices falling again.

Santa Clara County Market Snapshot

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

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational

Real Estate Summer Update

Falling Mortgage Rates and Fading Housing Demand… At the Same Time?
Mortgage rates look primed to go to new generational lows. But if the housing-market recovery is fading, will another drop in loan rates be enough to rekindle demand? Or are we simply running low on interested buyers -- or at least, potential buyers who’d be able to qualify for a loan in this new era of tighter credit? In a good sign for home loan rates, yields on…

Homebuyer tax credit: Senate approves extension to finish deals
The Senate on Wednesday approved a plan to give homebuyers an extra three months to finish qualifying for federal tax incentives that boosted home sales this spring. The move by Senate Majority Leader Harry Reid would give buyers until Sept. 30 to complete…

Window quickly closing on California home-buyer tax creditJust as Congress approved a three-month closing-date extension for first-time buyers applying for federal tax credits -- a program responsible for big spikes in home sales this spring -- California announced that its most popular tax credit program is rapidly reaching the application limit. As of June 29, the state already had received first-time buyer applications totaling more than the $100 million allotment…

Market RecapThe chart below shows that cities east of highway 880 are still showing a higher demand than supply. Home prices have risen in these areas as much as 10% in 6 months. I expect the trend to continue throughout the remainder of the summer.

For Comparison: The West side of Highway 880 had more supply than demand in March, and April and May were also very close to having more supply than demand. It is too early to tell if the area is stabilizing or if prices will fall again.

Santa Clara County Market Snapshot

The table represents aggregated values based on MLS data for the specified date.
Enjoy the rest of your Fourth of July weekend and as always I welcome referrals from friends, co-workers or family members looking to buy a piece of property.  I am also happy to provide unbiased sound advice at any time. You can rely on my integrity and follow-through.

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

I provide guidance and build confidence in people, enabling them to reach their full potential and turn their dreams into reality.
Warm regards, Nathan Nahouraii

---

Uncertainty in Real Estate Markets

Silicon Valley median home price on the rise
In one of the strongest signs yet that the Silicon Valley housing market is recovering, the median price of houses sold in Santa Clara County last month shot up 29 percent from a year earlier, hitting $550,000, the biggest year-over-year increase in ... (to read the rest of this article please http://www.mercurynews.com/real-estate-news/ci_14890494)... However, Andrew LePage, an analyst with DataQuick, said "significant threats" still loom from higher interest rates, a weak economy and the likelihood of a rising inventory of homes being sold either after foreclosure or in an attempt to avoid foreclosure.

Santa Clara County foreclosures jump 72 percent
Foreclosures shot up 72 percent in Santa Clara County last month compared with a year earlier — the biggest increase in more than a year — further proof that federal efforts to keep people in their homes have had little effect. A total of 434… (to read the rest of this article please visit http://www.mercurynews.com/real-estate-news/ci_14877464).

Economist says CA tax credit won’t last through May
The Federal tax credit expires Friday April 30th and new homebuyers will burn through the California's state tax credit no later than May 20, the California Association of Realtors, an industry group, said Wednesday. Starting May 1, buyers who haven't owned a home in the previous three years and buyers of new homes will both become eligible for a $10,000 state tax credit… (to read the rest of this article please visit http://www.nctimes.com/business/article_5fb80b8a-7e42-500f-ad3d-bc3851850f15.htm).

Market Recap: The chart below shows that cities east of highway 880 are continuing to have less inventory. Home prices have risen in these areas as much as 10% in 6 months. Demand has far outweighed supply.

For Comparison: The West side of Highway 880 had more supply than demand in March, which could be a sign of prices falling if the trend continues.

Current Prediction: Prices will be stable for the next couple months as we move into uncertain times. With tax credits expiring and interest rates rising the distant future of home prices is unknown but count on me to keep you informed.

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

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

Market in Full Swing!

Sellers Being PAID to Move??
In an effort to end the foreclosure crisis, the Obama administration has been trying to keep defaulting owners in their homes. Now it will take a new approach: paying some of them to leave. This latest program, which will allow owners to sell for less... (to read the rest of this article please visit http://www.nytimes.com/2010/03/08/business/08short.html)!

Silicon Valley Sales Rising in February
The median price of houses sold in Santa Clara County rose 21 percent last month compared to the same time last year, as more high-end homes changed hands. Sales in the county increased 4 percent last month compared with February 2009, with 804 houses sold, according to a report Thursday from MDA DataQuick. The median price of the previously owned, single-family houses that changed hands in the county last month was $510,500, up from... (to read the rest of this article please visit http://www.mercurynews.com/real-estate-news/ci_14700966).

43 Days Left!: April 30, 2010 is the deadline for the $8,000 First Time Home Buyer, and now $6,500 REPEAT homebuyer Federal Tax Credit. Click here for a video explaining how the credit works, and you can visit the website http://www.federalhousingtaxcredit.com/ to read the frequently asked questions about the credit.
Market RecapThe chart below shows that cities east of highway 880 are continuing to have less inventory. Home prices have risen in these areas as much as 10% in 6 months. Demand has far outweighed supply.

For Comparison: The West side of Highway 880 is slowly picking up steam and following suit.

Current Prediction
The buying season is upon us and time on market is falling! Now is the time to buy! The tax credit will continue to spur activity as well as low interest rates. Prices across the bay area will continue to rise.

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

Let the Selling Season Begin!

Let the Selling Season Begin!

The Superbowl was a monumental moment for the Saint’s franchise. It was the first time in their history that they brought home the trophy. Luckily for us, our future in real estate is much more predictable. The middle of February is always the time when more homes begin to come on the market and deals can be made. We have already seen huge surges in home purchasing. The chart at the bottom illustrates that the time on market has dropped by close to 20 days in some markets!

Real Estate Nationally on the Rise???
It's a fairly rare event but, now and then most of the important economic indicators are heading in a positive direction. This is one of those weeks! Let's start with pending home sales. After a big decline in November, they bounced back on purchase contracts signed in December and now point to an even stronger spring market. Pending sales gained 1 percent nationally, 5.2 percent … (to read the rest of this article please visit http://www.homes101.net/news/n4972)

78 Days Left!: April 30, 2010 is the deadline for the $8,000 First Time Home Buyer, and now $6,500 REPEAT homebuyer Federal Tax Credit. Click here for a video explaining how the credit works, and you can visit the website http://www.federalhousingtaxcredit.com/ to read the frequently asked questions about the credit.

Market Recap

The chart below shows that cities east of highway 880 are continuing to have less inventory. Home prices have risen in these areas as much as 10% in 6 months. Demand has far outweighed supply.

For Comparison: The West side of Highway 880 is slowly picking up steam and following suit. If the graph below does not appear, click here to view it.

Current Prediction
The buying season is upon us. The extension of the tax credit will continue to spur activity as well as low interest rates. Prices across the bay area will continue to rise.

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

Enjoy the rest of your week and as always I welcome referrals from friends, co-workers or family members looking to buy a piece of property.  I am also happy to provide unbiased sound advice at any time. You can rely on my integrity and follow-through.

" Mistakes are the portals of discovery. "
* James Joyce (1882 - 1941)

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.