Keeping It REAL Estate: January 2011

Monday, January 31, 2011

What to expect in the lending market this week?

This is a busy week for the lending element of the housing market:

On Monday:

The first report of the week is January's Personal Income and Outlays data Monday morning, which gives us an indication of consumer ability to spend and current spending habits. This is important because consumer spending makes up two-thirds of the U.S. economy. Current forecasts call for an increase in income of 0.5% while spending is expected to rise 0.6%. Larger increases would be good news for the stock markets and could hurt bond prices, driving mortgage rates higher tomorrow. Smaller than expected increases would be considered good news for mortgage rates.

Stay tuned!

Friday, January 28, 2011

Happy Friday Everyone! Hope you won the week!!

Thursday, January 27, 2011

Hot new listing in Downtown San Jose, coming soon! Classic Victorian listed at $300,000. Stay tuned!!!

Wednesday, January 26, 2011

Just Listed!

http://bit.ly/eANf1A

Great home in Woodland Estates in Morgan Hill.

Call Victoria at (408)887-4425 for showing.

Wednesday Broker Tour, see what awesome new listings are out there.

Home sales jump in December 2010!

http://bloom.bg/i7rahc

After two years of declining values and home sales, December brought good news. Check out this great article.

The Bay Area is a bit different and I believe our market is not national but local. For the Bay we saw an 11% rise in appreciation (Santa Clara County).

Comment on this post if you want to see some local statistics just for Santa Clara County.

Cheers and make it a great day!

Cities where home values are expected to rise in 2011!

Cities Where Home Values Will Rise in 2011
These are the Metropolitan Statistical Areas where home values are expected rebound the most this year, based on data
compiled by Local Market Monitor.

1. San Jose, Calif.
Average Home Price: $511,186 12?Month Forecast: 3% increase 3?Year Annualized Forecast: 2% increase

2. Santa Ana, Calif.
Average Home Price: $449,396 12?Month Forecast: 3% increase 3?Year Annualized Forecast: 2% increase

3. Bethesda, Md.
Average Home Price: $384,775 12?Month Forecast: 2% increase 3?Year Annualized Forecast: 2% increase

4. Pittsburgh, Pa.
Average Home Price: $168,762 12?Month Forecast: 2% increase 3?Year Annualized Forecast: 2% increase

5. San Diego, Calif.
Average Home Price: $336,679 12?Month Forecast: 2% increase 3?Year Annualized Forecast: 2% increase

Dow just jumped over 12000 since 2008...Good times!

Tuesday, January 25, 2011

Real Estate Listing

Call Victoria with questions, great value for this desireable location!

Manufactured home for Sale:

121 Grove Morgan Hill CA

List Price: $110,000

Beautifully maintained home located on quiet court, close to green belt and walking paths.
2 bedrooms, 2 baths
Fenced landscaped yard
Large master suite overlooking backyard

For more Information:
http://www.postlets.com/res/5014929

Home improvement...what projects have the best return? You might be surprised!

Big-bang projects can make or break a sale from the moment potential buyers exit their car. A midrange entry door replacement brings the highest payback at a national average of 102.1 percent, followed by a midrange garage door replacement, at 83.9 percent, and an upscale redo of the siding at 80 percent of the cost. Step into the home, and a midrange kitchen remodel recoups an average 72.8 percent. Gaze into the backyard, where a wood deck addition also generates a 72.8 percent return.

But I really want that new kitchen....