Santa Clara County Market Update July 2009

May 2009 to June 2009 INVENTORY CLOSED SALES MEDIAN SALE 2786 1190 $550,000 19.7 % 11.6 % 12.2 %

June 2008 to June 2009 INVENTORY CLOSED SALES MEDIAN SALE 47.8 % 2786 1190 $550,000 28.4 % 26.7 %

Interest Rates May 12 th , 2009 30-Year Fixed APR: 4.750% Principal: $400,000 P &I Payment: $2,086.59 July 8 th , 2009 30-Year Fixed APR: 5.000% Principal: $390,000 P & I Payment: $2,093.60 Waiting for prices to drop doesn't always make sense.

Thirty Second Update Market conditions vary by area and price range Inventory is about half of what it was a year ago Sales are higher than we've seen in three years Median sale price lower than 2008, but rising fast as we move away from a foreclosure driven market $550,000 median sale price same as October 2008 All real estate is local, especially in this market, which area and price range are you interested in?

Market conditions vary by area and price range

Inventory is about half of what it was a year ago

Sales are higher than we've seen in three years

Median sale price lower than 2008, but rising fast as we move away from a foreclosure driven market

$550,000 median sale price same as October 2008

All real estate is local, especially in this market, which area and price range are you interested in?

More Talking Points 36.9% of listings sold for more than asking price Median asking price has increased by $150,000 since March due to slower sales of high end homes Many of the REO bargains have been snapped up by all cash investors and first time homebuyers Foreclosure filings still at or near record levels Fannie Mae has raised refi limit to 125% LTV 30 year fixed rates up have leveled off around 5%

36.9% of listings sold for more than asking price

Median asking price has increased by $150,000 since March due to slower sales of high end homes

Many of the REO bargains have been snapped up by all cash investors and first time homebuyers

Foreclosure filings still at or near record levels

Fannie Mae has raised refi limit to 125% LTV

30 year fixed rates up have leveled off around 5%

About Me Everything you need to know about buying or selling a home can be found by visiting my website at HeideWolfReid.com . As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. I go the extra mile to help you achieve your goals. Call or email me today! Remember! “Reid does it Right” Heide Wolf-Reid ALTERA REAL ESTATE 1125 Meridian Avenue San Jose, CA 95125 Phone: 408-667-9298 Email: [email_address]

Everything you need to know about buying or selling a home can be found by visiting my website at HeideWolfReid.com .

As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground.

Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game.

I go the extra mile to help you achieve your goals.

Call or email me today!

Remember! “Reid does it Right”

Thank You For Choosing Altera Real Estate!