San Jose Real Estate Blog for Buying and Selling San Jose CA Real Estate, Loans/Mortgages, Issues related to San Jose Real Estate blogged
Wednesday, December 22, 2010
Thursday, December 16, 2010
This spring promises to be a busy one...
Every realtor I have compared notes with agrees with Decembers activity(Dec is a slow month in RE), this spring should be a busy one. Real Estate prices may fall in other parts of the country,
but the Bay Area is resilient....much more so than other areas. Between now and April, when it will get busy should be a great time for knocking on doors and looking at inventory.
Other areas of BAY AREA REAL ESTATE, such as Palo Alto Real Estate and even Santa Cruz Real Estate , promise to be busy as well.
Go knock on some doors, you might find the perfect home!
Tom Merigan tmerigan@yahoo.com 408-559-1069 http://www.sanjoserealty.net
but the Bay Area is resilient....much more so than other areas. Between now and April, when it will get busy should be a great time for knocking on doors and looking at inventory.
Other areas of BAY AREA REAL ESTATE, such as Palo Alto Real Estate and even Santa Cruz Real Estate , promise to be busy as well.
Go knock on some doors, you might find the perfect home!
Tom Merigan tmerigan@yahoo.com 408-559-1069 http://www.sanjoserealty.net
Tuesday, December 14, 2010
Good news! Fewer US home owners underwater...
Fewer homeowners underwater in the third quarter
By Alejandro Lazo
Los Angeles Times
Posted: 12/13/2010 02:22:09 PM PST
Updated: 12/13/2010 08:37:55 PM PST
LOS ANGELES -- The number of homeowners in the U.S. who owe more on their properties than what those homes are worth has declined steadily for most of 2010, according to statistics released Monday.
But the drop in properties with negative equity has more to do with troubled borrowers losing their homes to foreclosure than an increase in prices.
About 10.8 million, or 22.5 percent, of residential properties with mortgages were in negative equity positions at the end of the third quarter, according to Santa Ana research firm CoreLogic. That is down from 11 million, or 23 percent, in the second quarter.
The number of underwater borrowers has declined by more than 500,000 during the first nine months of 2010, according to CoreLogic.
By Alejandro Lazo
Los Angeles Times
Posted: 12/13/2010 02:22:09 PM PST
Updated: 12/13/2010 08:37:55 PM PST
LOS ANGELES -- The number of homeowners in the U.S. who owe more on their properties than what those homes are worth has declined steadily for most of 2010, according to statistics released Monday.
But the drop in properties with negative equity has more to do with troubled borrowers losing their homes to foreclosure than an increase in prices.
About 10.8 million, or 22.5 percent, of residential properties with mortgages were in negative equity positions at the end of the third quarter, according to Santa Ana research firm CoreLogic. That is down from 11 million, or 23 percent, in the second quarter.
The number of underwater borrowers has declined by more than 500,000 during the first nine months of 2010, according to CoreLogic.
Friday, December 10, 2010
Local Area Annexation to go to San Jose or Campbell?
One of the hottest topics in West San Jose is whether or not the area between Union/Bascom/Camden
will be annexed by San Jose or Campbell....Having been a resident of this pocket for the last 15 years or so I can tell you that residents here consider themselves part of Campbell. If it had to go to vote Campbell would get the land. But San Jose has had it on the books as theirs since the mid 1970's. I am including an interesting article below by John Woolfolk published in the San Jose Mercury recently.
Tom Merigan tmerigan@yahoo.com 408-559-1069 http://www.sanjoserealty.net
Busy December
Looking around with buyers this December for anything good is a challenge....seems like good properties in the nice parts of San Jose are going pending mighty quickly....I have been saying since fall I think we are setting up for a very busy SPRING in Real Estate. In November it was reported santa clara county prices were up again, so we are seeing a slow but steady rise in prices recently:
http://www.prnewswire.com/news-releases/santa-clara-county-housing-sees-increase-in-average-sales-price-107081898.html
When consumers realize this they are eager to buy as they see the local market as coming off the bottom and rising. San Francisco home prices are going lower though.
http://www.bloomberg.com/news/2010-11-18/san-francisco-home-prices-fall-for-first-time-in-year-update2-.html
So from a consumer perspecitve Santa Clara county seems the more attractive option at this point!
We will get a big surge in the spring if the trend holds true. So do not not wait for the spring if you want to be ahead of the "pack"
Tom Merigan tmerigan@yahoo.com 408-559-1069 http://www.sanjoserealty.net
http://www.prnewswire.com/news-releases/santa-clara-county-housing-sees-increase-in-average-sales-price-107081898.html
When consumers realize this they are eager to buy as they see the local market as coming off the bottom and rising. San Francisco home prices are going lower though.
http://www.bloomberg.com/news/2010-11-18/san-francisco-home-prices-fall-for-first-time-in-year-update2-.html
So from a consumer perspecitve Santa Clara county seems the more attractive option at this point!
We will get a big surge in the spring if the trend holds true. So do not not wait for the spring if you want to be ahead of the "pack"
Tom Merigan tmerigan@yahoo.com 408-559-1069 http://www.sanjoserealty.net
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