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Housing sales, Home sales, Housing Inventory, Interest rates, Month over month Housing Sales, Year over year Housing sales, current inventory
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Santa Clara CountySanta Clara CountyMarket UpdateMarket Update
November 2009
8.2%
3.8% 5.0
%
Sep 2009 to Oct 2009
INVENTORY
CLOSEDSALES
MEDIAN SALE
2143 1026 $593,000
7.8%
Oct 2008 to Oct 2009
INVENTORY
CLOSEDSALES
MEDIAN SALE
57.0%
2143 1026 $593,000
26.8%
Interest Rates
Interest rates on
conforming, 30 year fixed mortgages
are now only 4.75%.
Act quickly to lock in
these low rates!
Timing the Bottom?
The true cost of home ownership for buyers with mortgages is their monthly mortgage payment.
November 2009Purchase Price = $593,00020% Down = $118,000Mortgage = $475,00030-Year APR = 4.75%Monthly Payment = $2,478
November 2010 ?Purchase Price = $533,00020% Down = $107,000Mortgage = $426,00030-Year APR = 5.75%Monthly Payment = $2,486
1% increase in interest rates offsets 10% decrease in purchase price
Thirty Second Update
• Market conditions vary by area and price range• Inventory is less than half of what it was a year
ago• October closed sales were the highest since
2005 • Median sale price now higher than October
2008, due to shift toward a more normal market mix
• 30-year fixed rates are currently only 4.75%• All real estate is local, especially in this market,
which area and price range are you interested in?
More Talking Points
• 46.0% of listings sold for more than asking price• Many of the REO bargains have been snapped up
by all cash investors and first time homebuyers• Foreclosure activity remains high, but we are no
longer seeing waves of REOs hitting the market• Median asking price of $785,000 indicates high
end market is saturated and selling very slowly• Gap between initiated sales and closed sales
indicates that many deals are falling through
About Me
Everything you need to know about buying or selling a home can be found by visiting my website at HeideWolfReid.com.
As the preeminent real estate professional in my community, I am dedicated to providing the finest service available while breaking new ground.
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.
I go the extra mile to help you achieve your goals.
Call or email me today!
Heide Wolf-ReidALTERA REAL ESTATE1125 Meridian AvenueSan Jose, CA 95125Phone: 408-667-9298Email: [email protected]
Thank YouThank YouFor Choosing For Choosing
Altera Real Estate!Altera Real Estate!
