Tuesday, September 6, 2011

Sales Falling - Renting REOs??

In Escrow: 1825 Catherine St in Santa Clara $425,000
In Escrow: 647 Rocking Horse Ct. $899,000

UPDATE: Super Conforming mortgage loan limit of $729,750 has been reduced to $625,500. Email me to get more info about this new change.

South Bay home sales and prices fall
Battered by bad economic news, potential homebuyers in the South Bay stayed on the sidelines last month, sending sales to their lowest level for a July in more than two decades, according to a report Tuesday. Real estate information service DataQuick said it has seen no lower July sales numbers for existing single-family houses in Santa Clara and San Mateo counties since it started keeping records in

REOs for RENT??

With the depressed real estate market continuing to drag down the economy, federal officials are seeking ideas from investors and others about how to rent some of the nearly 250,000 foreclosed homes owned by government-backed entities such as Fannie Mae. Officials from the Obama administration and the Federal Housing Finance Agency, which oversees seized housing finance giants Fannie Mae and Freddie Mac, said they hoped for innovative solutions to addressing part of the severe oversupply of single-family homes. There are about 248,000

Market Recap: The chart below shows that cities east of highway 880 are still experiencing a very high demand for housing.

For Comparison: Sales in the cities west of highway 880 are becoming stronger.

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
Direct: (408) 404-6444
Direct: (650) 352-5322