First Time Home Buyers Heat Up Summer Buying Season

Homes are selling like its 2006 all over again. Contracts to buy home reaches 9-months high. Where the economic tides go so goes the the housing market typically. That is why continued strength in the US economy has led to continued strength in the housing market recently, especially with first-time homebuyers. The National Association of Realtors® (NAR) reported recently in their monthly numbers  that sales of existing homes in May were at the highest rate in nearly six years and April sales, originally reported down by more than 3 percent, weren't hit as…continue reading →

April Housing Data Show Robust Price Increase, Shorter Selling Time

Total existing-home sales, which are completed transactions that include single–family homes, townhomes, condominiums and co–ops, declined 3.3 percent to a seasonally adjusted annual rate of 5.04 million in April from an upwardly revised 5.21 million in March. Despite the monthly decline, sales have increased year–over–year for seven consecutive months and are still 6.1 percent above a year ago. The problem does not appear to be a sign of housing market weakness however. Lawrence Yun, NAR chief economist, says sales in April failed to keep pace with the robust gain seen in March. "April's…continue reading →

[Infographic] How To Spot The Best Rental Market

Unlike the real lottery, hitting the rental property jackpot requires experience, knowledge, and skill. You need to know exactly what to look for and where to look for it. Without both of these factors you can easily find yourself buying a rental property sinkhole. We've put together a collection of facts and tips to help you avoid the pre-mentioned rental property disaster. Below you'll find stats on some of the most popular markets, do's and don't s for purchasing rental properties and tips on how to successfully navigate the purchasing process.continue reading →

Is Qualified Mortgage Rule Biggest Risk To Real Estate Recovery?

Banks are talking about it, Credit Unions are talking about it, Loan Officers are talking about it, heck even the President and wanna be President are talking about it. Not too many people know exactly what it is and how it will pan out - but one thing is for sure, it definitely has the potential of derailing the nascent real estate recovery. As part of implementing the Dodd-Frank act, Consumer Financial Protection Bureau (CFPB) plans to finalize the rule for  "qualified mortgage (QM)" in January 2013. This proposal is the first ever…continue reading →

Will Fed’s Effort to Lower Mortgage Rates Boost Housing and Economy?

Fed's announcement last week is aimed at keeping mortgage rates low for a long time and spur housing and economy. The trillion dollar question is - will it actually achieve that aim? It sure faces a lot of hurdles. (By the way if you missed Fed's announcement, Read the news here reported on this site.) The Fed's $1.25 trillion of mortgage bond purchases that ended in March 2010, is widely believed to have substantially brought the mortgage rates down. According to Mahesh Swaminathan, Senior Mortgage Strategist at Credit Suisse, the new action by…continue reading →

In Most US Cities Buying Beats Renting – Not So Much in San Jose, San Francisco

Record low mortgage rates, discounted home prices and rising rents are making home buying extremely attractive in most US cities. More and more data released by several research are pointing towards buying making more financial sense than renting. According to RentJungle, rents have climbed 20% over the past 3 years. On the other hand, home prices have fallen 45% in five years. In a recent announcement, real estate valuation and listing site Zillow reported that in 75% of the 200 metro areas, homeowners would reach a "break-even point" in 3 years or less.…continue reading →

Santa Clara County Real Estate Market Shows Strong Spring Housing Trend

You read it here first when we first reported the turnaround of the Santa Clara County housing market in some areas. The trend continues with some good news being reported locally and nationally. According to a recent Mercury News report, Marin home prices were up 15% over last year, marking similar stories of rising sales prices for desirable homes throughout the Bay Area. The Santa Clara County Association of Realtors released upbeat information last week, as well stating that the average price of single family homes in February 2012 increased 9.46% from February…continue reading →

When Warren Buffet and NAR Speak About the Housing Market – People Listen

If you wait till you see the first robin, spring'll be over. And well, spring is over, but we're not in the dead of winter yet, either,billionaire investor, Warren Buffet said in a recent interview on CNBC while being queried on the housing market and investing. Realtors who have been around the cyclical block a few times like to say that by the time you read about a market turning around in the media, it has been that way for at least two months, giving credence to Buffets robin analogy. According to the…continue reading →

The “Facebook IPO Effect” and the Silicon Valley Housing Market

As soon as Facebook announced its pending IPO, many Realtors and mortgage professionals in the Silicon Valley were anticipating the ripple effect into the local housing market. Potential home buyers are worried that perhaps home prices will rise with all this new found wealth flooding the market. The dilemma is that consistently low inventory available on the Peninsula is putting pressure on housing prices. The folks at Altos Research, a Mountain View real estate data analytics company, wrote a compelling, and stats filled post on the true reach of the "Facebook Effect" on…continue reading →

San Jose Housing Market Recovering As Spring Market Heats Up

Spring 2012 Housing market for San Jose and Santa Clara County appears to be off to a strong start according to real time market data and Realtors anecdotal reports. The median price for a single-family home in San Jose, CA is $477,000, up from $463,000 in February of 2009. The median home price for Santa Clara County in January was $648,238. Back in February 2007, the median price in San Jose was $715,000, according to historical statistical data from the Santa Clara County Association of REALTORS. According to a recent Rismedia report, housing…continue reading →