Tag Archives: Bay Area real estate

Realtor.com reports SAN JOSE Ranks #1 where Home Prices have fallen most

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Realtor.com reports that SAN JOSE, CA ranks #1 where Home Prices have fallen the most, in their findings, dated May 20, 2019. Most recently, the real estate market has experenced a shortage of available homes for sale to balance the demand of Buyer’s needs. Combined with super low interest rates, the results were that the Bay Area housing sales prices escalated at record-breaking speed from years 2011-2018. This year has delivered a “cooling-off” phase, in some areas, such as San Jose, CA as prices have softened and inventory has increased.

Houses priced right are still selling quickly, and some “over-asking.” The market is relatively balanced, and favorable for both Buyers and Sellers. The mortgage interest rates are low and there are more homes to choose from.

Curious how other cities were rated? Read the Realtor.com report HERE: https://www.realtor.com/news/trends/2019-where-home-prices-falling-the-most/ “Falling Stars: You Won’t Believe the 10 Cities Where Home Prices Are Down the Most” for more information.

Jeni Pfeiffer, Broker Associate Realtor

408-813-4256

OPEN HOUSE Sat 1:00-4:00pm GORGEOUS ENGLISH ESTATES HOME near new Apple Campus

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OPEN HOUSE Sat 1:00-4:00pm – COME VISIT this GORGEOUS Turn-key English Estates Home located in West San Jose at the Saratoga Border. AWESOME Country Lane Elementary School and close to the new Apple Campus! This is an original Leep Buidling Home, known for quality building with hardwood floors, open floorplans, sliders from the Master Bedroom to the Redwood Patio Deck, and more! Asking $1,788,000  CLICK HERE for the website.

GORGEOUS ENGLISH ESTATES Home in Country Lane Elementary School District. Photo Courtesy Jeni Pfeiffer

GORGEOUS ENGLISH ESTATES Home in Country Lane Elementary School District

OVER $100,000 + INVESTED for IMPROVEMENTS*OUTSTANDING Custom Retrofits & Remodeling includes ENERGY EFFICIENT Green Upgrades resulting in a COMFORTABLE Living Environment w/Reduced PG&E Bills. Continue reading →

Protecting Yourself from Property Scams on the Internet

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Courtesy MLSListings – October 10, 2014

The Internet has made it easier for consumers looking to rent or buy a home to bypass using a REALTOR® and go directly to the source of property listings and negotiate with the owner or property manager. Unfortunately, this can pose significant risks with the widespread problem of real estate scams. This is particularly prevalent on sites like Craigslist where unsuspecting renters and home buyers go looking for great deals and ideal properties. What they can end up with is identity theft, theft of funds and even serious physical harm. Continue reading →

BAY AREA PINCH $1 million ‘average’ homes? Let’s talk!

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Voracious demand driving record sales in ‘mansion’ bracket.

Courtesy San Jose Mercury News by Steve Johnson and Pete Carey

There was a time when a million-dollar home was something families drove by on a Sunday outing to get a glimpse of how rich folks lived. But now they’re more common than Starbucks, at least around here.

Fueled by the booming tech economy and seemingly insatiable demand for housing, the Bay Area set records in the second quarter of this year in the number of homes sold for $1 million or more as well as those costing at least $2 million, a real estate information service said Thursday.

CLICK HERE for the full San Jose Mercury news article.

Silicon Valley Mortgage Rates June 13_2014

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Courtesy Tony Guaraldi, VP of Mortgage Lending Guaranteed Rate Mortgage

Are Interest Only loans coming back???  Well technically they never fully left the industry even after the mortgage market meltdown in 2008, but most people are unaware these programs still exist today.  However, there is only a small handful of lenders that offer the Interest Only programs today and they are nothing like “fog the mirror” test to qualify for them as it many people joked about prior to 2008.  In fact the Interest Only programs offered today are even more strict in terms of income, down payment, and credit requirements then their principal in interest counter parts.  Makes sense that underwriting would be more strict as the lender is taking more risk by not have principal reduced every month.

CLICK HERE for the current Friday Mortgage Rate Sheet effective June 13, 2014.  Continue reading →

Asian buyers scoop up ‘bargain’ million-dollar Bay Area homes

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By Pete Carey 09/27/2013 pcarey@mercurynews.com – The continuing influx of well-heeled homebuyers from Asia has Bay Area real estate firms competing for a lucrative and growing slice of the region’s residential market.  Continue reading →

Rate on 30-year mortgage hits record low 3.40 pct.

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By MARCY GORDON AP Business Writer

WASHINGTON—Average U.S. rates on fixed mortgages fell again to new record lows. The decline suggests the Federal Reserve’s stimulus efforts may be having an impact on mortgage rates.

Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year loan dropped to 3.40 percent. That’s down from last week’s rate of 3.49 percent, which was the lowest since long-term mortgages began in the 1950s.

CLICK HERE for the full San Jose Mercury News article.