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Santa Clara County Housing Market Update February 2010
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Santa Clara County Housing Market Update February 2010

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Month over month, year over year inventory, sales and price date, Market trends

Month over month, year over year inventory, sales and price date, Market trends


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  • 1. Santa Clara County Market Update February 2010
  • 2. Dec 2009 to Jan 2010 5.7 % INVENTORY CLOSED SALES MEDIAN SALE 1887 593 $532,000 16.1 % 36.8 %
  • 3. Jan 2009 to Jan 2010 18.2 % INVENTORY CLOSED SALES MEDIAN SALE 54.8 % 1887 593 $532,000 4.4 %
  • 4. Interest Rates Interest rates on conforming, 30 year fixed mortgages are now 5.125%. Interest rates on conforming, 15 year fixed mortgages are now 4.500%. Act quickly to lock in these low rates!
  • 5. Timing the Bottom?
    • The true cost of home ownership for buyers with mortgages is their monthly mortgage payment.
    February 2010 Purchase Price = $532,000 20% Down = $106,000 Mortgage = $426,000 30-Year Rate = 5.125% Monthly Payment = $2,320 February 2011? Purchase Price = $479,000 20% Down = $96,000 Mortgage = $383,000 30-Year Rate = 6.125% Monthly Payment = $2,327 1% increase in interest rates offsets 10% decrease in purchase price
  • 6. Thirty Second Update
    • Market conditions vary by area and price range
    • Inventory is down over 50% from a year ago
    • January closed sales were the highest since 2007
    • Median sale price is up 18.2% over last January as we move toward a more normal market mix
    • 30-year fixed rates are currently 5.125%
    • All real estate is local, especially in this market, which area and price range are you interested in?
  • 7. More Talking Points
    • 51.1% of listings sold for more than asking price
    • Many of the REO bargains have been snapped up by all cash investors and first time homebuyers
    • We are beginning to see more REOs hitting the market after several months of low REO inventory
    • Gap between initiated sales and closed sales indicates that many deals are falling through
    • Statistics indicate that the TFT rate is higher among affordable homes, probably because of short sales
  • 8. 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!
    Heide Wolf-Reid ALTERA REAL ESTATE 1125 Meridian Avenue San Jose, CA 95125 Phone: 408-667-9298 Email: [email_address]
  • 9. Thank You For Choosing Altera Real Estate!

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