Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Santa Clara County Housing Market Update September 2010


Published on

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

Published in: Real Estate
  • Be the first to comment

  • Be the first to like this

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 <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:<br />
  10. 10. Thank YouFor Choosing Altera Real Estate!<br />