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New Listing: 1310 Araujo St in North Valley

March 24, 2013 by

If you missed my previous listing at 1246 Littleton Dr or you are one of the 18 buyers who competed for the house and did not get it, you may very well be the winner for this one: 1310 Araujo St.

It’s in the same neighborhood, equally convenient location and short walking distance to golf course and park. It even has view of the golf course from the second level bedrooms. It has high ceiling in the living room and living area size is bigger.

I am planning an open house on April 6 and 7. Please email me if you want to be notified of the exact open time and other details such as listing price and disclosures info.

For more details: http://www.siliconvalleyhousingpost.com/listings/1310-araujo-st-san-jose-95131/

 

Filed Under: North Valley San Jose 95131 Tagged With: , ,

Cyprus Bailout – Bad for Them, Good for Mortgage Rates

March 24, 2013 by

Most of you have never heard of Cyprus until last week. If you have not taken any action to refinance yet, this could be your very few remaining opportunities.

Mortgage rates have been rising – the latest average on the 30-year fixed was 3.63% for confirming loans (Note: loan amount under 417,000) , the highest its been since the week of August 23, according to Freddie Mac.

If it’s not because of Cyprus bailout, the rates may have already been close to 3.875 to 4%, especially for the high balance conforming loan. Cyprus bailout gave people who are in the middle of refinance or have not started yet the time to catch up.

The big thing in the news this week has been the Cyprus bailout situation which is still very much a concern.  Apparently the Russians have declined to help with the bailout.  It is possible that Cyprus may be forced to leave the Eurozone.  This may either start a domino effect for other nations, or if conditions in Cyprus become terrible after their exile, other nations may finally get their fiscal act together to avoid the same fate.  These are historic times!  A negative
outcome in Cyprus will very likely result in a Bond rally.  But, if an agreement is reached, Stocks will benefit and Bonds will suffer.

If you have not locked rate but in the process of refinancing, seize the moment of any bond rally to lock your rate and take your profit.

If you need to refinance and not start yet, or need to get a purchase loan, get in touch with me immediately.

Filed Under: Mortgage Rate Tagged With: , , ,

Housing Prices Above Historical Highs in Silicon Valley

March 18, 2013 by

In quite a few good neighborhoods, housing prices are already above the historical highs achieved last time in the year of  2006/2007.

Below are the data from MLS listings for houses sold from Jan 2004 to Feb 2013 for single family houses in Campbell, Cupertino, Los Altos, Los Altos Hills, Los Gatos. Monte Sereno, Mountain view, Palo Alto, Santa Clara, Saratoga and Sunnyvale.

4 Bedroom – 2 Bath Average Prices

New High. The current 2013 4/2 average price is $1,310,000 – slightly ABOVE the 2007 high of 1,252,000. This is only going to get higher before the year is through. We’re just getting started. This reflects an 7% gain over last years end which saw close to an 11% overall gain in this home size. But remember this is only 2 months into the year!!! 7% is a lot for two months.

Average sale price for 4 bed, 2 bath single family house in good neighbor in Silicon Valley

Average sale price for 4 bed, 2 bath single family house in good neighbor in Silicon Valley

3 Bedroom – 2 Bath Average Prices

Current 2013 3/2 average price is $1,066,000 slightly ABOVE the 2007 high of 1,065,000. Again, this is only going to get higher before the year is through. These and the 4/2s are the vast bulk properties of the market. Oh, by the way, this reflects around 8% gain over last December. 2012 overall saw an 8.5% gain in this home size.

3 bed, 2 bath Single Family House Average Sale Price from Jan 2004 to Feb 2013 in Good Areas in Silicon Valley

3 bed, 2 bath Single Family House Average Sale Price from Jan 2004 to Feb 2013 in Good Areas in Silicon Valley

 

 

Filed Under: Cupertino Real Estate, Market Update Tagged With: , , , , , , , , , , ,
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