Friday, December 9, 2011

Activity & Loan Limits Up as 2011 Comes to an End

Under Contract: 1825 Catherine St in Santa Clara $453,000 **Bank Approved Short Sale**
Under Contract: 3865 Canyon Heights Dr in Fremont $362,000
SOLD: 210 Mariposa St in Mountain View $812,000

Higher FHA loan limits reinstated for high-cost housing marketsUncle Sam has thrown California and other high-priced housing markets a lifeline. President Obama on Friday signed into law a bill that will reinstate higher limits for Federal Housing Administration-backed mortgages in high-cost areas. In expensive housing areas such as Los Angeles and Orange counties, the limit for these FHA-backed loans had dropped to $625,500 from $729,750 on Oct. 1. The change became effective ...

Contracts to buy homes hit highest level in a year
WASHINGTON -- The number of Americans who signed contracts to buy homes jumped in October to the highest level in a year. But the gain follows three months of declines and isn't enough to signal a housing recovery. The National Association of Realtors said Wednesday its index of sales agreements rose 10.4

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.

* Mortgage rates were collected from publicly available sources ( 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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