Tuesday, December 7, 2010

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.
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Nathan Nahouraii