Who says people don't buy homes during the holidays?
There were 5 sales in Santa Clara County during the week of December 22-December 26.
Where you ask? Alviso, Campbell, Morgan Hill, Palo Alto, and Downtown San Jose. None were actually on Christmas day.
Tuesday, December 30, 2008
Thursday, December 18, 2008
A Willow Glen Steal $277,400
444 Fuller Ave, Willow Glen
2/1, 924+/-SF, 5,227+/-Lot
Listed for $277,400 - where will it sell? Probably close to $350,000.
Bank-owned, nicely remodeled, a very neighborly street complete with a association (no dues), a park with bocce and horseshoes. Located off Bird Ave it's worth a look.
Bank owned properties are becoming better and better deals (steals?). Many communities that have held their values through 2008 are now seeing bigger (some double digit) dips (Willow Glen, Los Altos, Los Gatos, Cupertino, Sunnyvale).
2009 looks poised to present great opportunities both in home prices and interest rates.
Another one under $1MM in LG
**Pending**
234 Almendra Ave, Listed at $995,000 3/2, 1740+/-SF
Did it sell under $1MM?? Doubtful. Wednesday this home received the dramatic price reduction and was re-shown on Broker tour, Thursday it went under contract. This is exactly how to get a home sold right now - price it to sell - make it a screaming deal that everyone (agent?) looks at.
To see more homes for sale, go to www.FindYourNextHome.info
To see what your home may be worth in this market, go to www.FindYourHomeValueNow.info
Tuesday, December 16, 2008
Hot News from the Feds!
The Fed’s announcement released today was different from past announcements, with the Fed calling for a targeted range for the Fed Funds Rate of between 0.00% and 0.25%.
The Fed’s announcement was unanimous, which was not expected at the start of the meeting.
In addition to lowering rates, the Fed made several additional statements in addressing the economy and their future direction. The Fed stated, that it is prepared to keep interest rates at these low levels for some time, and that they are also prepared to move to stimulate the economy through the open market by increasing their balance sheet to high levels and expanding their plan to acquire both Agency and Mortgage Backed Securities as conditions warrant.
There was also a statement that the Fed will evaluate acquisition of long term Treasuries, but the definition of “Long Term” could be 2, 5 or 6 year bonds, not necessarily 30year.
The Fed’s announcement was unanimous, which was not expected at the start of the meeting.
In addition to lowering rates, the Fed made several additional statements in addressing the economy and their future direction. The Fed stated, that it is prepared to keep interest rates at these low levels for some time, and that they are also prepared to move to stimulate the economy through the open market by increasing their balance sheet to high levels and expanding their plan to acquire both Agency and Mortgage Backed Securities as conditions warrant.
There was also a statement that the Fed will evaluate acquisition of long term Treasuries, but the definition of “Long Term” could be 2, 5 or 6 year bonds, not necessarily 30year.
Wednesday, December 10, 2008
Best of Los Gatos Broker Tour
Now listed under $1 million, 48 Chester Street is definitely worth a second look. 936+/-SF. 2bd/1ba.
Thursday, December 4, 2008
Best of Los Gatos Broker Tour
My favorite listing this week was 241 Arroyo Grande Way. This home is nicely updated, has great space, and is located in a great family neighborhood. 1649+/-SF, 3bd/2ba - priced right!Tracy Pina
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