Santa Clara CountyMarket Update<br />September 2010<br />
Jul 2010 to Aug 2010<br />INVENTORY<br />CLOSED<br />SALES<br />MEDIAN <br />SALE<br />1.0<br />%<br />14.3<br />%<br />1....
 Aug 2009 to Aug 2010<br />INVENTORY<br />CLOSED<br />SALES<br />MEDIAN <br />SALE<br />12.5<br />%<br />11.7<br />%<br />...
Interest Rates<br />Interest rates on conforming, 30 year fixed mortgages are now only 4.25%.<br />Interest rates are at o...
Timing the Bottom?<br />The true cost of home ownership for buyers with mortgages is their monthly mortgage payment.<br />...
Still Waiting to Move Up?<br />The value of your old home may have fallen, but the <br />marginal cost of moving up may ha...
Thirty Second Update<br />Market conditions vary by area and price range<br />Inventory is up from a year ago, but flatten...
More  Talking Points<br />36.5% of listings sold for more than asking price<br />Median sale price has been about $630,000...
About Me<br />Everything you need to know about buying or selling a home can be found by visiting my website at HeideWolfR...
Thank YouFor Choosing Altera Real Estate!<br />
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Santa Clara County Housing Market Update September 2010

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the lates sales and pricing information for the Santa Clara County Housing market, Inventory numbers, Market snapshot Y interest rates

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Santa Clara County Housing Market Update September 2010

  1. 1. Santa Clara CountyMarket Update<br />September 2010<br />
  2. 2. Jul 2010 to Aug 2010<br />INVENTORY<br />CLOSED<br />SALES<br />MEDIAN <br />SALE<br />1.0<br />%<br />14.3<br />%<br />1.2<br />%<br />3280<br />864<br />$630,000<br />
  3. 3. Aug 2009 to Aug 2010<br />INVENTORY<br />CLOSED<br />SALES<br />MEDIAN <br />SALE<br />12.5<br />%<br />11.7<br />%<br />41.4<br />%<br />3280<br />864<br />$630,000<br />
  4. 4. Interest Rates<br />Interest rates on conforming, 30 year fixed mortgages are now only 4.25%.<br />Interest rates are at or near the bottom of the past 40 years. <br />Act quickly to lock in these incredibly low fixed rates!<br />
  5. 5. Timing the Bottom?<br />The true cost of home ownership for buyers with mortgages is their monthly mortgage payment.<br />September 2010<br />Purchase Price = $630,000<br />20% Down = $126,000<br />Mortgage = $504,000<br />30-Year Rate = 4.25%<br />Monthly Payment = $2,479<br />September 2011?<br />Purchase Price = $567,000<br />20% Down = $113,000<br />Mortgage = $454,000<br />30-Year Rate = 5.25%<br />Monthly Payment = $2,507<br />1% increase in interest rate offsets 10% decrease in purchase price<br />
  6. 6. Still Waiting to Move Up?<br />The value of your old home may have fallen, but the <br />marginal cost of moving up may have fallen more.<br />September 2009<br />Old House = $700,000<br />Move Up = $1,000,000<br />MU Margin = $300,000<br />30-Year Rate = 5.25%<br />Margin Payment = $1,657<br />September 2010<br />Old House = $630,000<br />Move Up = $900,000<br />MU Margin = $270,000<br />30-Year Rate = 4.75%<br />Margin Payment = $1,408<br />As the market drops, the cost of moving up drops. <br />This is a great time to think about moving up! <br />
  7. 7. Thirty Second Update<br />Market conditions vary by area and price range<br />Inventory is up from a year ago, but flattening out <br />Closed sales have declined sharply since May 2010 <br />August 2010 median sale price was up 12.5% over August 2009 as our market mix has stabilized <br />30-year fixed rates are currently 4.25%<br />All real estate is local, especially in this market, which area and price range are you interested in?<br />
  8. 8. More Talking Points<br />36.5% of listings sold for more than asking price<br />Median sale price has been about $630,000 for the past four months with only minor fluctuations<br />Many of the REO bargains have been snapped up by all cash investors and first time homebuyers<br />Normal listings account for about 70% of closings<br />Median initiated sale price is $545,000, which means that more offers are being accepted, but ultimately falling through, in lower price ranges<br />
  9. 9. About Me<br />Everything you need to know about buying or selling a home can be found by visiting my website at HeideWolfReid.com. <br />As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground.<br />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.<br />I go the extra mile to help you achieve your goals. <br />Call or email me today!<br />Heide Wolf-ReidALTERA REAL ESTATE<br />1125 Meridian Avenue<br />San Jose, CA 95125<br />Phone: 408-667-9298<br />Email: realreid@earthlink.net<br />
  10. 10. Thank YouFor Choosing Altera Real Estate!<br />
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