Jan
5
Cambrian Park ~ 95124 ~ 95118
Filed Under Market Trends
Active Single Family Home Listings for week ending January 3, 2009 compared to January 5, 2008.
San Jose Ca homes
Cambrian Park
95124
95118
There were 138 single family home listings active in the week ending January 3, 2009 compared to 137 single family home listings active in week ending January 5, 2008. Of the 138 single family home active listings there were 50 short sales, 17 bank owned homes and 71 traditional listings.
There were 39 San Jose condos and San Jose Townhomes listed active compared to 35 in 2008. Of the 39 San Jose condos and San Jose Townhomes there were 11 short sales, 7 bank owned and 21 traditional listings.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned properties.
Kathleen Daniels, Broker Realtor and Certified REO Specialist
Copyright © 2009, All Rights Reserved by Kathleen Daniels *Cambrian Park ~ 95124 ~ 95118 ~ January 3, 2009*
Dec
31
Willow Glen ~ 95125
Filed Under General, Home Buyers
Willow Glen
95125
Real Estate Terms
Whether you are buying a Willow Glen home or selling your Willow Glen home, it is always good to speak and understand the language. The following are some important Real Estate terms to know.
Appraisal/Appraised Value: an opinion of the market value of a Willow Glen home expressed by a professional real estate appraiser.
Closing Cost: expenses incurred by a home buyer and home seller (in addition to the price of the home) when a Willow Glen home is sold.
Commission: an amount paid to a Realtor for their services, usually a percentage of the sales price of the Willow Glen home.
Deed: a legal document conveying ownership of property.
Down Payment: the portion of the home’s purchase price the home buyer pays in cash.
Earnest Money: the deposit given by a home buyer to a home seller to show that the buyer is serious.
Escrow: the holding of documents and money by a neutral third party until all parties perform under the terms of the agreement between the home buyer and home seller.
Hazard Insurance: an insurance policy that covers losses incurred as the result of property damage such as fire, wind or other hazards.
Homeowner’s Warranty: a policy that covers certain repairs of a newly purchased home for a certain period of time.
Realtor®: a real estate broker or agent who is a member of the local Board of Realtors, and State Association of Realtors. Realtors adhere to a high standard of professionalism and strict code of ethics.
Title: a legal document establishing the right of ownership of property.
Silicon Valley Real Estate ~ specializing in 95125, 95120, 95124, 95118, 95138, 95136, 95123, 95070, 95008 and surrounding Silicon Valley neighborhoods.
Kathleen Daniels – Broker Realtor and REO Specialist
Copyright © 2008, All Rights Reserved by Kathleen Daniels *Willow Glen ~ 95125*
Dec
28
Blossom Valley ~ 95123 Heating Costs
Filed Under General
How does your ‘R’ measure up?
R the heating costs for your Blossom Valley Home rising through-the-roof?
The R-Value in your Blossom Valley Home measures how well insulation retains heat inside your home. “R” relates to resistance to heat flow. The higher the R-Value – the more resistant to heat flow. When a Blossom Valley Home has a high or adequate R-Value - heat is retained in the Blossom Valley Home. Simply stated, adequate insulation prevents heat from rising through the roof!
Up to an estimated 45% of a home’s energy loss occurs through the attic/roof. Source: The Department of Energy.
It is expected that heating costs may rise up to 15% this winter. The R-Value in your Blossom Valley Home can save you money. Consider the R-Value being as important as your FICO score. A small investment in insulation can equate to huge savings on your energy bill.
An easy way to determine the R-Value of the attic in your Blossom Valley Home is to measure the thickness of the existing insulation and multiply the number by three. If the existing insulation is 4 inches thick – the R-Value is 12.
If the recommended R-Value is 32 and your home currently has 12, then adding insulation with an R-Value of 20 would raise the R-Value insulation in your home and that would help cut heating costs.
The most common do-it-yourself home improvement type insulation is batt or blanket which are made of non-combustible fiberglass. Blankets are continuous rolls of insulation and batts are pre-cut strips – which can be stapled or pressed into place. Of course, insulation can also be stuffed, blown or poured. Consult with a local supplier and discuss which insulation option would be most appropriate for your Silicon Valley Home.
You will discover that once you insulate the attic space in your home – you will be so pleased with the energy savings that you will undoubtedly want to add insulation in other areas of your home as well. Consider adding insulation to ceilings with unheated spaces, floors above vented crawl spaces, and floors over unheated garages and porches.
When you adequately insulate your home you will automatically insulate your money which would otherwise be spent on the high cost of heating bills.
Clearly R-Value recommendations vary based upon the location of a home. If you want to learn more about the recommended R-Value for your Blossom Valley Home, then visit the U.S. Department of Energy’s website - Energy Efficiency and Renewable Energy where you will find valuable information and tools like a zip code insulation calculator!
Kathleen Daniels ~ Broker Realtor and Certified REO Specialist
Silicon Valley Real Estate – San Jose California Homes ~ 95125, 95120, 95124, 95118, 95138, 95136, 95123, 95070, 95008 and surrounding Silicon Valley neighborhoods.
Dec
24
Cambrian Park ~ 95124
Filed Under General, Home Buyers
If you are buying a Cambrian Park home or refinancing your Cambrian Park home, then you want to speak and understand the mortgage language. The following are some important Mortgage terms you will want to know.
1. Adjustable Rate Mortgage (ARM): A mortgage in which the interest changes periodically according to corresponding fluctuations in an index.
2. Amortization: A repayment method in which the amount you borrow is repaid gradually tough regular monthly payments of principal and interest.
3. Appraisal: A fee charged by an appraiser to render an opinion of market value as of a specific date.
4. Cash Out: Receiving money back when refinancing your present mortgage.
5. Credit Limit: The maximum amount that you can borrow under a home equity loan.
6. Down Payment: The difference between the purchase price and that portion of the purchase price being financed.
7. Due On Sale: A clause in a mortgage agreement providing that, if the borrower sells, transfers, or encumbers the property, the lender has the right to demand the outstanding balance in full.
8. Fixed Rate: An interest rate which is fixed for the term of the loan. Payments are also fixed at one amount.
9. Interest Rate: The periodic charge, expressed as a percentage, for use of credit.
10. PITI: Principal, interest, taxes and insurance which comprise your monthly mortgage payment.
11. Variable Rate: An interest rate that changes periodically in relation to an index.
In addition to speaking and understanding mortgage language, it is equally important that you are working with a qualified mortgage professional. All lenders are not created equal – just as all Realtors are not created equal.
Many home buyers confuse pre-qualification with loan approval. Unless you have sat down with a lender (ideally face to face) and provided the lender copies of documents required for loan approval (the lender will tell you what they need) you likely have only been pre-qualified. In most cases, pre-qualification is not enough to get an offer accepted. Loan approval letters are required in most cases. Offers on bank-owned homes and short sales require loan approval.
If you are serious about buying a Cambrian Park home, then you definitely want to obtain loan approval, which means you have in your possession, a loan approval letter from the lender or mortgage broker. In addition to stating loan amount and terms, the loan approval letter will serve you well if it also states your financial strength, high FICO score, job stability, etc. A loan approval letter is your resume qualifying you to buy a home. The stronger your resume and qualifications are, the better your changes of getting the home.
A weak, poorly written, unsupported loan approval letter is a red flag. A highly qualified professional Realtor will see the red flag and point out the “risks” to a seller upon offer presentation. Even though you may be highly qualified for the loan your offer may be rejected based upon a weak, unsupported loan approval letter. If your offers are not being accepted, then ask your agent and your lender why?
Contract your Lender with any questions you may have regarding your loan.
Silicon Valley Real Estate ~ specializing in 95124, 95118, 95138, 95136, 95123, 95125, 95120, 95070, 95008, and surrounding Silicon Valley neighborhoods.
Kathleen Daniels – Broker Realtor and REO Specialist
Copyright © 2008, All Rights Reserved by Kathleen Daniels *Cambrian Park ~ 95124*
Dec
21
Cambrian Park
Filed Under General
Cambrian Park
Cambrian
95124
95118
Preparing Your Cambrian Home for Winter
Is your Cambrian Park home prepared for winter?
It’s important to make sure your Cambrian Park home is ready for winter weather.
As you inspect your Cambrian Park home, keep these tips in mind
1. Check smoke and carbon monoxide detectors - replace batteries if needed.
2. Inspect roof and chimney - check flashing.
3. Check exterior of home – cracks in stucco, ensure wood is sealed
4. Check windows and doors for drafts - caulk or weather strip if needed.
5. Clean gutters and downspouts – ensure rain flows off roof and away from home
6. Inspect your heating system, replace filters.
7. Survey attics and insulation - lower your heating bill by maintaining proper insulation.
Silicon Valley Real Estate ~ specializing in 95124, 95118, 95120, 95138, 95136, 95123, 95125, 95070, 95008 and surrounding Silicon Valley neighborhoods.
Kathleen Daniels ~ Broker Realtor and REO Specialist
Copyright © 2008, All Rights Reserved by Kathleen Daniels *Cambrian Park*
Dec
17
Bank-Owned Homes
Filed Under General, Home Buyers
Bank-Owned Homes
What is a Bank-Owned Home?
Once a bank or lender has fully foreclosed on a property (Foreclosure Timeline) it becomes bank-owned. Most bank-owned properties are listed with real estate agents. Once the property is listed – it is commonly referred to as a REO or (“Real Estate Owned”).
Are you thinking about buying a bank owned home?
If so, are you considering a bank-owned home because you want a “good deal?” If you are like most people then your answer is probably yes – I am looking for a good deal! Clearly, good deals are available in the bank-owned market. Buying a bank-owned home may not be as easy as one might think and certainly is not without risk. Buying a bank-owned home will require a lot of research, persistence and patience. Buying a bank-owned home also requires a lot of preparation.
If you are considering taking advantage of the many unique REO buying opportunities available today, then you definitely want to consider the following:
1. Choose a Realtor who knows the REO business. Choosing to work with a certified REO specialist will undoubtedly help you win in the negotiation process. Banks and lenders have their own unique and specific requirements for offer presentation. If you are working with an agent who does not know or understand the REO process, your offer may never been seen by the bank. That is a fact. Many banks will not even look at offers that are incomplete.
2. Sit down with a qualified lender and get pre-approved. Most banks require prospective buyers to get pre-approved with the bank who owns the property. Although buyers are not required to use the bank to close on the transaction the bank wants to know upfront that the buyer making the offer is qualified to close.
3. Most bank-owned homes are sold “as is” and inspections will be at the buyer’s expense. Caveat Emptor ~ Buyer Beware!
4. An offer to purchase a bank-owned home must accompany specified forms and other special documents required by the bank. If you are working with an REO Specialist you won’t need to be concerned about these forms and documents because your agent already knows what the bank requires.
5. Making a low-ball offer on a bank-owned home may cause the bank to ignore the offer. Because most REO properties are priced to sell, and banks are back-logged with property they want to release from their inventory, banks typically do not respond to low-ball offers on REO properties.
6. Keep in mind, the lender is behind the wheel in bank-owned transaction. Lenders have their own rules, processes, and guidelines. The lender is required to answer to anyone, except the bank.
7. Consult with a Realtor and REO Specialist and decide if buying a bank-owned property is right for you. Many people consider buying a bank-owned home because they believe it is a better deal. It may or may not be a better deal and it may or may not be the best opportunity for you. Many buyers have learned that in looking for a bank-owned home they have found a traditional listing that proved to be an equal or better value … a value they realized without the additional risk or added costs of obtaining inspections.
Kathleen Daniels – Broker Realtor and Certified REO Specialist
Copyright © 2008, All Rights Reserved by Kathleen Daniels *Bank-Owned Homes*
Dec
14
Blossom Valley ~ 95123 ~ 95136
Filed Under Home Buyers, Market Trends
Active Single Family Home Listings for week ending Nov 29, 2008 compared to December 1, 2007.
Valley MLS, San Jose Ca homes
Blossom Valley
95123
95136
There were 224 single family home listings active in the week ending November 29, 2008 compared to 271 single family home listings active in week ending December 1, 2007. Of the 224 single family home active listings there were 109 short sales, 31 bank owned homes and 84 traditional listings.
There were 165 San Jose condos and San Jose Townhomes listed active compared to 217 in 2007. Of the 165 San Jose condos and San Jose Townhomes there were 75 short sales, 49 bank owned reo and 41 traditional listings.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Listings ~ Blossom Valley ~ November 29, 2008*
Dec
10
Almaden Valley ~ 95120
Filed Under Home Buyers, Market Trends
Active Single Family Home Listings for week ending Nov 29, 2008 compared to December 1, 2007.
Valley MLS, San Jose Ca homes
Almaden Valley
95120
There were 94 single family home listings active in the week ending November 29, 2008 compared to 57 single family home listings active in week ending December 1, 2007. Of the 94 single family home active listings there were 9 short sales, 5 bank owned homes and 80 traditional listings.
There were 10 San Jose condos and San Jose Townhomes listed active compared to 9 in 2007. Of the 10 San Jose condos and San Jose Townhomes there were 0 short sales, 0 bank owned reo and 10 traditional listings.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.
Offered by Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *Almaden Valley ~ 95120 ~ November 29, 2008*
Dec
7
San Jose Listings ~ 95138
Filed Under Home Buyers, Market Trends
Active Single Family Home Listings for week ending Nov 22, 2008 compared to Nov 24, 2007.
Valley MLS, San Jose Ca homes
Santa Teresa
95138
95119
There were 103 single family home listings active in the week ending November 22, 2008 compared to 148 single family home listings active in week ending November 24, 2007.
There were 20 San Jose condos and San Jose Townhomes listed active compared to 29 in 2007.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings including short sales and bank owned reo properties.
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Listings ~ 95138 ~ November 22, 2008*
Dec
3
Blossom Valley ~ 95123 ~ 95136
Filed Under Home Buyers, Market Trends
Active Single Family Home Listings for week ending Nov 22, 2008 compared to Nov 24, 2007.
Valley MLS, San Jose Ca homes
Blossom Valley
95123
95136
There were 218 single family home listings active in the week ending November 22, 2008 compared to 270 single family home listings active in week ending November 24, 2007.
There were 169 San Jose condos and San Jose Townhomes listed active compared to 223 in 2007.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings including short sales and bank owned reo properties.
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *Blossom Valley ~ 95123 ~ 95136 ~ November 22, 2008*
Nov
30
Willow Glen Homes ~ 95125
Filed Under Home Buyers, Market Trends
Active Single Family Home Listings for week ending Nov 15, 2008 compared to Nov 17, 2007.
Valley MLS, San Jose Ca homes
Willow Glen
95125
There were 255 single family home listings active in the week ending November 15, 2008 compared to 197 single family home listings active in week ending November 17, 2007. Of the 255 single family home active listings there were 33 short sales.
There were 35 San Jose condos and San Jose Townhomes listed active compared to 32 in 2007.
Of the 35 San Jose condos and San Jose Townhomes there were 3 short sales.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.
Offered by Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels * Willow Glen Homes ~ 95125 ~ November 15, 2008*
Nov
30
San Jose Valley ~ 95138
Filed Under Home Buyers, Market Trends
Active Single Family Home Listings for week ending Nov 15, 2008 compared to Nov 17, 2007.
Valley MLS, San Jose Ca homes
Santa Teresa
95138
95119
There were 103 single family home listings active in the week ending November 15, 2008 compared to 150 single family home listings active in week ending November 17, 2007.
Of the 103 single family home active listings there were 42 short sales.
There were 19 San Jose condos and San Jose Townhomes listed active compared to 29 in 2007.
Of the 19 San Jose condos and San Jose Townhomes there were 7 short sales.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Valley ~ 95138 ~ November 15, 2008*
Nov
26
California Foreclosure
Filed Under General, Home Buyers, Home Sellers
California Foreclosure
California Foreclosure Law
Civil Code 2924
Foreclosure Process California
Generally speaking, a lender would prefer to receive payments than receive a home due to foreclosure. Lenders will often accommodate home owners who are having difficulty making payments. The best course of action is to call the lender before missing payments. Lenders may restructure the loan or make alternative payment arrangements.
If a homeowner misses payments and does not contact the lender to make alternative arrangements or restructure the loan, the lender may begin the foreclosure process. The lender files a Notice of Default with the County Recorder’s Office. A copy of the notice is mailed to the property owner.
If a default is caused by a balloon payment not being made when due, then the lender can require payment in full on the entire outstanding loan as the only remedy to cure the default. If the default is not cured, the lender may direct the trustee to sell the property at a public sale.
Public Sale: A Notice of Sale must be published in a local newspaper and posted in a public place (typically the courthouse) for three consecutive weeks. Once the notice of sale has been recorded, the property owner has until 5 days prior to the published sale date to bring the loan current.
If the default is cured by the owner the deed of trust is reinstated and regularly monthly payments resume. It may still be possible for the property owner to work out a postponement on the sale with the lender.
If a postponement is not reached, then the property goes “on the block.” When properties are sold “on the block” at a trustee’s sale, buyers must pay the amount of their bid in cash, cashier’s check, or other instrument acceptable to the trustee.
Caveat Emptor – Buyer Beware: There is a high probability that foreclosed properties may carry the burden of overdue taxes, liens and clouds on title. Be sure to investigate possible outstanding liens and encumbrances prior to submitting a bid at a pubic sale. It is possible that title insurance may not be available following a foreclosure sale or exceptions may be included in a title insurance policy of a foreclosed property.
Call today for more information about buying an REO property! 1-800-972-1822.
Foreclosure Search Free
REO Sale
Foreclosure Timeline
Silicon Valley Real Estate
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *California Foreclosure Law ~ Foreclosure Process*
Nov
23
California Foreclosure
Filed Under General, Home Buyers, Home Sellers
California Foreclosure Law
Civil Code 2924
Foreclosure Timeline
• Record Notice of Default – Day 1
• Mail Notice of Default – Within 10 business days of recording Notice of Default
Post, publish or serve Notice of Default, when necessary
• Mail Notice of Default – Within one month of recording Notice of Default
• Set Sale Date – After three months of recording Notice of Default
• Send Notice of Sale to IRS, when necessary – 25 days before sale date
• Publish Notice of Sale - 20 days before sale date
• Post Notice of Sale - 20 days before sale date
• Mail Notice of Sale - 20 days before sale date
• Request for directions to property sent to requesting bidders – within 10 days from 1st
• Record Notice of Sale – 14 days before sale date
• Trustee cannot sell for 7 days after expiration of court order – 7 days before sale date
• Right to reinstate – 5 business days before sale date
• Property sold at Sale – Sale date
Property that fails to be sold at a Trustee Sale goes back to the bank and becomes REO – Bank-Owned. All liens against the property or any unpaid taxes or fees are settled once a property becomes an REO.
Call today for more information about buying an REO property! 1-800-972-1822.
If you are looking for bank owned homes then you definitely want to register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just REO properties.
Silicon Valley Real Estate
Foreclosure search free
REO Sale
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Copyright © 2008, All Rights Reserved by Kathleen Daniels *California Foreclosure Law ~ Foreclosure Timeline*
Nov
19
Foreclosure Search Free
Filed Under General, Home Buyers, Home Sellers
Silicon Valley Real Estate and Bank-Owned REO’s
REO stands for Real Estate Owned and it refers to a property that has gone back to the bank, or the mortgage company, after an unsuccessful foreclosure auction. There are certain advantages to purchasing an REO property. Unlike foreclosures, the property can be inspected prior to the purchase and you can buy on your own schedule. A foreclosed property can be in a deplorable condition however a bank-owned property is typically restored to a salable condition. Appliances are often included with an REO property. All liens against the property or any unpaid taxes or fees are settled once a property becomes an REO.
Before an offer is submitted on an REO property, there are some questions you definitely will want answered. For example: How did the REO property get to where it is? Was it as simple as the previous owners were in over their head or is something wrong with the property? Are there any inspection reports? Is the bank willing to make any repairs?
When it comes time to submit an offer, an REO home buyer wants to keep it simple and reasonable. An appraisal is required by the lender. REOs are generally sold “as is” but an offer should include an inspection contingency period. This allows an REO home buyer to terminate the sale if unforeseen problems are reveled during an inspection.
Are you interested in REO properties or do you know someone who is? We have considerable experience in the REO property marketplace. We see the entire picture and place our focus on the details that are necessary to assist a REO home buyer in placing an offer on an REO property. Some things we specialize include:
• Assessing the properties condition in order to be financed
• Determining the value of the property to be able to meet the lenders guidelines
• Articulating concessions that might be paid on behalf of the borrower
Call today for more information about buying an REO property!
1-800-972-1822.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just REO properties.
Offered by Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Foreclosure-Bank Owned Homes-REO Homes
Nov
16
Cupertino Real Estate
Cupertino Closed Sales Reported in September 2008
Cupertino 95014
Property Type: Single Family Homes ~ Cupertino Real Estate
There were 22 single family homes reported sold in Cupertino during the month of September 2008.
Current Inventory in the month of September 2008 = 77
The Average Price was $1,135,954
The Median Sales Price was $1,112,500
The Average Days of Market (DOM) was 32
% LP Received = 97.90%
There were 34 new listings reported in Cupertino, California in September 2008.
Property Type: Condos / Townhomes ~ Cupertino Real Estate
There were 6 condos / townhomes reported sold in Cupertino during the month of September 2008.
Current Inventory in the month of September 2008 = 24
The Average Price was $686,833
The Median Sales Price was $679,000
The Average Days on Market (DOM) was 42
% LP Received = 98.26%
There were 15 new listings reported in Cupertino, California in September 2008.
Definitions:
Current Inventory = represents the total number of properties with status 1, 2, and 3. Status 1 is active; Status 2 is pending with release; and Status 3 is pending without release.
Average Price = the sum of the sales prices divided by the number of sales.
Median Sales Price = is the sales price of the property that falls in the middle of all the sold properties.
Average DOM = the sum of the number of days on market for sold properties divided by the count of sold properties.
New Listings = the number of listings with a list date within the month being reported.
% LP Received = the sum of the sold prices divided by the sum of the list prices multiplied by 100.
Kathleen Daniels is a Silicon Valley Real Estate Agent serving the needs of home buyers and home sellers in Cupertino and Silicon Valley
Copyright © 2008, All Rights Reserved by Kathleen Daniels *Cupertino Real Estate Closed Sales in September 2008*
Nov
12
San Jose Listings
Filed Under Home Buyers, Market Trends
San Jose Listings
Active Single Family Home Listings for week ending Nov 8, 2008 compared to Nov 10, 2007
Valley MLS, San Jose Ca homes
Blossom Valley
95123
95136
There were 229 single family home listings active in the week ending November 8, 2008 compared to 284 single family home listings active in week ending November 10, 2007. Of the 229 single family home active listings there were 96 short sales, 34 bank owned reo and 99 traditional listings.
There were 179 San Jose condos and San Jose Townhomes listed active compared to 233 in 2007. Of the 179 San Jose condos and San Jose Townhomes there were 81 short sales, 47 bank owned reo and 51 traditional listings.
Visit Silicon Valley Real Estate and register for Home Buyers Scouting Report, the #1 home search tool in America providing access to ALL listings not just short sales and bank owned reo properties.
Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert
Nov
9
San Jose Valley
Filed Under Market Trends
San Jose Valley
San Jose Real Estate
San Jose Home Sales Reported in September 2008
Property Type: Single Family Homes ~ San Jose Valley
There were 526 single family homes reported sold in San Jose Valley during the month of September 2008.
Current Inventory in the month of September 2008 = 3599
The average sales price was $559,531
The median sales price was $495,000
The average Days on Market (DOM) was 55
% LP Received = 98.15%
There were 1108 new listings reported in San Jose Valley in September 2008.
Property Type: Condos / Townhomes ~ San Jose Valley
There were 164 condos / townhomes reported sold in San Jose Valley during the month of September 2008.
Current Inventory in the month of September 2008 = 1316
The average sales price was $340,045
The median sales price was $325,000
The average Days on Market (DOM) was 61
% LP Received = 97.43%
There were 376 new listings reported in San Jose Valley in September 2008.
Definitions:
Current Inventory = represents the total number of properties with status 1, 2, and 3. Status 1 is active; Status 2 is pending with release; and Status 3 is pending without release.
Average Sales Price = the sum of the sales prices divided by the number of sales.
Median Sales Price = is the sales price of the property that falls in the middle of all the sold properties.
Average DOM = the sum of the number of days on market for sold properties divided by the count of sold properties.
New Listings = the number of listings with a list date within the month being reported.
Willow Glen 95125
Almaden Valley 95120
Blossom Valley 95136, 95123
Cambrian Park 95124, 95118
Santa Teresa, Silver Creek, Evergreen 95138
Kathleen Daniels is a Silicon Valley Real Estate Agent serving the needs of home buyers and home sellers in San Jose and Silicon Valley
Copyright © 2008, All Rights Reserved by Kathleen Daniels *San Jose Closed Sales in September 2008*
Nov
9
It’s another beautiful day in San Jose!
Filed Under General
Welcome to San Jose Real Estate Blog!
Nov
5
REO Sale ~ Indymac Bank Purchase Program
Filed Under General
REO Sale ~ Indymac Bank Purchase Program
Indymac Bank is providing financial assistance to an owner-occupied home buyer who purchases an Indymac Bank property. Because Prospect Mortgage is Indymac Bank’s National lender for REO purchases the financial assistance is available only if a REO home buyer uses Prospect Mortgage for an FHA or VA loan.
Indymac Bank will provide up to six (6) percent of the sales price to assist with reducing the interest rate and/or paying funds towards closing costs. For example, if a REO home buyer were to buy a $300,000 foreclosure, the REO home buyer would receive up to $18,000 to either lower the interest rate significantly, pay closing costs, or a combination of both.
Contact Kathleen Daniels, Broker Realtor and Foreclosure/REO Expert to set up an appointment to preview properties owned by Indymac Bank. Again, Prospect Mortgage must provide the loan and it must be an owner occupied FHA or VA loan. 1-800-972-1822
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