Housing is Booming and Development is Hindered

May 2015

Locally the real estate market is cooking and thanks to you, so is our office.

Both buyers and investors are hot on the trail. As result, we are finding the supply of available properties diminishing with prices rising. If you have been thinking real estate – home or commercial – now is a good to time to call. Our experience, tested in the mortgage business, is the place to start..

Please don’t miss out. Give us a call today as preparation is the key to success.

Though the causes for the last downtown seemed unique, the recovery cycle is as expected. Good news for buyers and investors. First the jobs market begins to stabilize and take-home pay increases. And, as expected where jobs growth occurs, new money follows and real estate heats up. Markets do prefer assurances, not risk. This includes flip homes, rehabilitated apartment, and tenant improvements.

Local statistics for the home market – year-over-year:

Available Inventory, though steadily increasing: 2nd Lowest in 15 years

Median days on Market: Lowest in 13 years

Percentage of Properties Sold with Price Higher than Asked: Highest percentage in 15 years

Median Home Size: Largest in 11 years

Low interest rates continue to provide the fuel and buyers/investors continue to buy the most property affordable. With the near record low rates, this means one can buy near 15% more home, based on the monthly mortgage payment (than 2006.) Buying today makes common sense. First we don’t often trade our properties. Second today’s opportunities are once in a life-time. Please don’t miss out. Give us a call.

Most always, our numbers primarily concern Santa Clara County with the added tidbit. With the explosion in the information space, “location, location, location”, is becoming quite important. It helps drive the real estate market, as our clients are asking for specific neighborhood qualities. Let us help you shop for the neighborhood best suited for you.

This months quick notes on the Good Bad n Ugly.

THE GOOD: There is renewed conversation about land development, design layout, transportation, and in-fill. This is fantastic as the problem is both local and regional. No longer having a State Redevelopment agencies to take the burden, it is time we support and enter the conversation.

THE BAD: A side-note from this months The Good. Factions continue to place a drag upon this much needed conversation. It will be interesting how this plays out, as all sides need to be heard. Yet what seems lacking is a focused goal. One able to keep conversation moving forward. Change is not always easy, but it is difficult to imagine our area ever again being know for its beautiful orchards.

THE UGLY: Our housing problem goes beyond the Bay Area. This disconnect reaches outward to the surrounding geographical regions, the entire State, and even with planning on a National level. Yet is seems clear the first issue would be transportation and the infrastructure needed to fulfill the visions. Keep aware and encourage those striving to bring all this together. All will benefit.

In closing: The buying or selling of real estate often encourages a broader conversation. It is a life event, and for many, much of life often revolves around the property they own, live, and one day sell. Thus planning for our next few years, or even the next generation, is a good conversation. It is one I encourage. With this, I firmly believe the benefits of homeownership, over time, far outweighs any loss of flexibility. Either way, it is a conversation I invite and would love to hear your thoughts.

Give a call to day and let us begin the conversation. Your future is best assured the more solid your foundation, while having needed groundwork, well in-place.

We remain, Gratefully yours,

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