Fremont Real Estate Blog

Here are just some of the findings in the report: The monthly mortgage payment for the typical home currently compares more favorably to rents than at any time since the early 1970s. By the first quarter of 2012, existing home sales were 5.2 percent above year-earlier levels, with single-family sales up 6.3 percent. Sales of newly constructed homes in the first quarter of 2012 stood 16.7 percent above year-earlier levels. The inventory of existing homes for sale shrank by some 23 percent in 2011, reducing the supply in the first quarter of 2012 to its lowest level since 2006. Single-family permitting, a leading indicator of starts, was also up 16.9 percent in the first quarter of 2012. The complete report provides a current assessment of: The state of the housing market and the foreclosure crisis The economic and demographic trends driving housing demand The state of mortgage finance Ongoing housing affordability challenges       -Sunil   Fremont, Newark and Union Ci...

In Fremont, Newark and Union City real estate associated with high API scoring schools are selling between 2005 to 2006 levels and those in lower API scoring areas, they are selling at 200-2001 pricing. Those neighborhoods are a relative bargain.   From Ds News Hardest Hit Markets 'Overshot on the Downside': Report In Pro Teck Valuation Services' June Home Value Forecast report, Phoenix was used as an example to argue the point that some of the hardest hit markets have "overshot on the downside." The real estate valuation company looked at two traditional appraisal methods for determining property values: replacement cost and income capitalization. Based on these two factors, Pro Teck concluded that home prices in certain markets are selling at prices which are actually way below their replacement costs and the rental yields. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools. Love Us on Yelp!   Lik...

We’ve been saying this since the beginning of the year.   From DS News Low Inventory Boosting Prices, Says HousingPulse Home price purchases were mixed month-over-month in May, with non-distressed prices up and short sales down, according to the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. From April to May, transactions reported by HousingPulse survey respondents revealed the average price for non-distressed properties rose 1.7 percent, while the average price for short sales fell 0.7 percent. For damaged REOs, the average price went up 1.8 percent and for move-in ready REOs, the average price dropped 1.5 percent. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax  

It’s already hit bottom, and is heading up again.   From DS News   Survey: Experts Agree Market to Hit Bottom in 2013 Experts surveyed by Zillow expect home prices to decline slightly in 2012, and predict they will bottom in 2013, according to the June 2012 Zillow Home Price Expectations Survey. The survey was comprised of 114 respondents with various backgrounds including economists, real estate experts, and investment and market strategists. Respondents predicted home prices will fall 0.4 percent in 2012, and then rise by 1.3 percent in 2013. Zillow Chief Economist Stan Humphries commented that the convergence of expectations among economists lends further support to the claim that a bottom is real. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools. Love Us on Yelp!   Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax  

From DS News   Zillow: Home Values Mixed, Rent Continues to Climb Home values rose in May month-over-month, marking the third consecutive month of increases, but fell on a yearly basis, according to Zillow's Real Estate Market Reports. Prices moved upwards by 0.5 percent from the month before in April to $148,100, but home values continued their downward fall on a yearly basis, dropping 0.9 percent from May 2011. The upside to the yearly decline is it's the smallest year-over-year drop since October 2007, according to the Zillow's Home Value Index. Rent prices also hiked up month-over-month in May by 1.8 percent and year-over-year by 4.6 percent. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools. Love Us on Yelp!       Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax  

We never experienced the avalanche of Shadow inventory, the reports of it were greatly exaggerated.   From DS News Shadow Inventory Drops to Lowest Level Since 2008, CoreLogic Reports As of April 2012, 1.5 million homes are in shadow inventory, which is a 14.8 percent decrease from last year in April when the number of homes hiding in the shadows was 1.8 million, CoreLogic reported Thursday. The current level of shadow inventory represents a supply of four months compared to a supply of 6 months a year ago. CoreLogic counts shadow inventory, also known as pending supply, by calculating the number of distressed properties that are seriously delinquent, in foreclosure, and held as real estate owned (REO) by servicers, but not currently listed on multiple listing services. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools. Love Us on Yelp!       Property Search | Featured Listing | Neighborhoods | ...

Canadian and British represent lion share of international home buyers, with a focus on homes in Florida Overseas buyers snatching up pricey homes Source: lowes.inman.com   Sunil Sethi sent this using ShareThis . Please note that ShareThis does not verify the ownership of this email address.

From DS news   Rental Market Still Tightening: Moody's With vacancies declining and rental prices rising, the climate in the housing industry is clearly warming up to rental properties. According to Moody's Analytics, "weak income gains, favorable demographics, and the foreclosure crises" are all causing people to choose renting over buying, and demand for rent will remain solid over the next two years. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools. Sunil Sethi (510) 388-2436 sunil@sunilsethi.com Steven Fong (510) 673-6509 steven@sunilsethi.com DRE #01173766, #01729474 Love Us on Yelp!       Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax  

Mortgage rates in uncharted territory By INMAN NEWS Mortgage rates continued their descent into uncharted territory this week as investors seeking a safe haven from the European debt crisis snatched up bonds backed by mortgages, and the Federal Reserve continued programs intended to keep a lid on long-term interest rates.       - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools.     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax  

Wells Fargo passed me some interesting data   Check out this chart.     Vacancy is expected to drop to 4.9% which is always a bad sign for renters and good news for landlords, and housing starts are on the uptick, so the new home builders should start to do better.  

New Haven Unified Appoints New Chief Academic Officer NEW HAVEN UNIFIED SCHOOL DISTRICT Dr. Arlando Smith, a statewide leader in school district leadership who has worked with New Haven Unified teachers and principals for the past three years and was instrumental in the creation of the Union City Kids’ Zone, has accepted an offer to become the District’s Chief Academic Officer. The appointment was approved Tuesday night by the Board of Education, which also approved the appointment of Nancy George, principal of the New Haven Adult School for the past eight years, as Executive Director of the Kids’ Zone. The appointments are effective July 1. “Dr. Smith is a champion educator, someone who knows what’s best for students, both from his practical experience and because he has been on the cutting edge of inquiry and research,” Superintendent Kari McVeigh said. “And Nancy George, who has ties to so many of our Kids’ Zone families from her work w...

Click here to view this in your browser Competition to Buy your home remains High.    

Passed to me by Chase       >   Housing Trends >   Property Price Per Region >   Who is Buying Properties >   Homebuyer Traffic   Issue 12 / June 2012   Housing Trends • National average home prices were relatively stable in April compared with March. • First-time homebuyers accounted for 43% of move-in-ready REO purchases in April. • Homebuyer traffic remained strong in April.     Average Property Price Per Region 'The market has become very busy and the inventory reduced, which is encouraging stabilization of prices in some local niche areas.' - Agent in Florida     Who is Buying Properties 'It has turned from a buyer's market to a seller's market in the last few months due to lower inventory and investors purchasing properties with cash.' - Agent in Arizona     Homebuyer Traffic