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Santa Clara County House Bidding War Continues in 2013

February 1, 2013 by

We all know that housing inventory is low and buyers are bidding up for the housing price. If you are one of them, hope the following most updated info can give you some help when you put your own offer and make you feel more confident and less nervous when you add so much more above the listing price to try to get the house you want.

  • 587 Templeton Drive 4 bed, 2 bath.  listed below 1M – 7 offers offer accepted over 1.1M
  • 585 Templeton Drive 4 bed, 2 bath.  listed at 1.05M  – 10 offers looks like it went for 1.2 M
  • Rockeffeler Dr. Sunnyvale, not remodeled, mostly original condition 3 bed, 2 bath. listed at $988K over 17 offers sold for 1.175M
  • 729 Winstead Terrace, Sunnyvale. 2 bed 1.5 bath, 1160 sq ft. List price: $588,000. 20 offers –  sold to an offer with all cash, went over asking price (+15 %). no contingency, as is, short close.
  • 1580 Darlene Avenue, San Jose, listed at $899,000, 11 offers, 4 over $1,000,000
  • 661 Woodhams, Santa Clara, listed at $699,000, 16 offers, sold for “in the ballpark” of $750,000.  1 offer all cash, it was not selected.  Home was in original condition (60 years), winning offer had loan contingency only
  • 984 Alpine Terrace #1, Sunnyvale. List price $568,000 – 2/2, 1553 sq ft. 6 offers. Seller didn’t take the highest at $650,000 zero contingencies but took the second highest with all cash, closing in 8 days.
  • 237 Sierra Vista Ave, Mountain View. List price $639,000. 2 bed 1.5 bath , 1394 sq ft. Seller took the highest over $700k all cash.
  • 975 Belmont Terrace #3, Sunnyvale. List price $499,000. 3/2.5, 1348 sq ft. 6 offers, 3 of them at $550,000 and above… probably accepted an offer close to $580k (with a loan).
  • 5097 Capistrano Ave, San Jose 95129 @ $825k – There were 5 offers above $900K.  Four offers at, or above, $945K..
  • 849 KIM STREET, Cupertino 95014, which had 31 offers and went for over $1.2Mil, was listed for $1,048,000.
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Beautiful House for First Home Buyer

January 6, 2013 by

This 3 bedroom and 2.5 bath house is such a lovely home. Even though it’s not big, about 1393 square feet living area, it feels bigger because of it’s high ceiling, very nicely designed layout and so much sun lights through out the day.

I like the location a lot too. It’s a very short walk to the golf course in a quiet neighborhood in the very good part of the North San Jose called North Valley. Most of the lot is in the backyard. It has the place to grow plants, for BBQ and even a nice sand box for younger kid to play.

Below is a photo of the front of the house. Come to check it out yourself on Jan 19 and 20 when I will have the open house.

1246 Littleton Dr in San Jose Front

1246 Littleton Dr in San Jose Front

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Mortgage Rate at the Lowest on Records Dating Back to 1971 – Lowest in 40 Years

November 22, 2012 by
We are having the lowest rates in 40 years. For many of us, that’s the lowest in our lifetime. Below are the latest weekly survey done by Freddie Mac to lenders across the country on Monday to Wednesday. If you are still waiting for better rates, this should give you a bigger perspective to see where we are now and how much likely it could go even lower.
Mortgage buyer Freddie Mac said Wednesday November 21, 2012 that the average rate on the 30-year loan dipped to 3.31 percent, the lowest on records dating back to 1971. That’s down from 3.34 percent last week, the previous record low.

The average on the 15-year fixed mortgage also dropped to 2.63 percent. That’s down from 2.65 percent last week and also a new record.

The average rate on the 30-year loan has been below 4 percent all year. It has fallen further since the Federal Reserve started buying mortgage bonds in September to encourage more borrowing and spending.

Home sales and construction are rising, providing a much-needed boost to the economy. Home prices are also increasing, which makes consumers feel wealthier and more likely to spend.

The average doesn’t include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

The average fee for 30-year loans was 0.7 point, unchanged from last week. The fee for 15-year loans also remained at 0.7 point.

The average rate on a one-year adjustable-rate mortgage ticked up to 2.56 percent from 2.55 percent. The fee for one-year adjustable-rate loans rose two-tenths to 0.5 point.

The average rate on a five-year adjustable-rate mortgage 2.74 percent, the same as the previous week. The fee was unchanged at 0.6 point.

Source: CHRISTOPHER S. RUGABER, AP Economics Writer

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