Fremont Real Estate Blog

There are benefits from going off the fiscal cliff.   From DS news   Mortgage Rates Settle Near Record Lows as Fiscal Cliff Talks Persist Fixed mortgage rates showed little signs of movement in the last full week of November, hovering near record lows as market worries heightened over the impending fiscal cliff. Freddie Mac puts the average 30-year fixed mortgage rate at 3.32 percent and the 15-year rate at 2.64 percent. Analysts say uncertainty surrounding the fiscal cliff has businesses, consumers, and financial markets all feeling uncertain themselves, which will keep mortgage rates at these levels as long as talks drag on in Washington. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE

Higher cash down is winning most homes, but not always to 1 st investors.   Per DS news.   Lack of Distressed Properties Locks Out First-Time Homebuyers The share of distressed properties is shrinking and home prices are rising, but first-time homebuyers aren't benefiting from the improvements, according to findings from a survey. In the most recent Campbell/Inside Mortgage Finance HousingPulseTracking survey, the first-time homebuyer share for home purchases was found to be 34.7 percent in October. The figure is a decrease from 37.1 percent in June and the lowest share in the survey's three-year history. The decrease coincides with a significant rise in purchases for non-distressed properties. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To acces

From DS News Case-Shiller Indices Up in September, Momentum Slows Despite another month of home price improvements, the housing sector faltered in September as prices increased in 13 of the 20 cities in the monthly Case-Shiller Home Price Indices, Standard & Poor's reported Tuesday. The month-over-month September gain was weaker than in August when prices rose in all cities surveyed The 10-city index increased 0.3 percent from August to 158.93, its highest level since September 2010.  The 20-city index also rose by 0.3 percent and reached its highest level in two years. Economists had expected a slightly faster month-over-month improvement of 0.4 percent. - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download m

Contrary to what the press writes, the fiscal cliff is not on people’s mind.   We had a great open house yesterday, and the discussion was about how many offers we’re expecting. -sunil   From DS News Fannie Mae Releases Forecast on Housing, Economy Given improvements seen in housing, Fannie Mae revised its housing forecast higher for 2012 and 2013 in its November economic outlook report. The GSE's Economic & Strategic Research Group anticipates single-family housing starts will jump 25 percent this year, then rise by another 22 percent in 2013. Existing-home sales should also rise and see a 9 percent increase in 2012 and a 4 percent gain in 2013. Even though reports on the housing sector give reasons to be optimistic, Fannie Mae still warned "data continue to show a sluggish recovery overall." » Read More     SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property S

From  DS News   Forty-One AGs Sign Letter Urging Congress to Extend Debt Relief Act Forty-one state attorneys general signed a letter Tuesday urging U.S. House and Senate leaders to extend the expiring Mortgage Debt Relief Act of 2007. The attorneys general argued failure to extend the act would take away from the national mortgage settlement. "Requiring a homeowner to pay income tax on forgiven or canceled mortgage debt would make the National Mortgage Settlement much less effective," the letter states. The act, which is set to expire December 31, 2012, allows taxpayers to be excluded from paying taxes on forgiven debt from a foreclosure, short sale, or loan modification. » Read More

         

Open House Saturday and Sunday 11/17-18 from 1-4 pm Come by and say high.   http://www.sunilsethi.com/Listings/4290%20Sedge%20St.htm     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" .    

From DS News   Demand Rises, Inventory Falls in Single-Family Rental Market Demand in the single-family rental market continues to expand even as inventory tightens, according to the latest MarketPulse report from CoreLogic. Comparing lease rates, supply, pricing, and the ratio between bid prices and asking prices clearly demonstrates an increasingly tightening market. Currently, the greatest amount of growth is occurring in North Port, Florida; Cape Coral, Florida; and Honolulu. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" .    

We’ll be holding open house today at 1409 Gilbert Ave., Fremont It’s located in the Parkmont community very close to one of the city’s most tranquil parks – Shinn Park.   Come by today from 1-4pm to this remodeled home .       - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" .          

- sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" .    

Doesn’t surprise me any.   From DS News   Rent Prices Continue to Rise Faster than Asking Prices Rent prices are climbing faster than asking prices and are rising in metros where asking prices are falling, according to a report from Trulia. Year-over-year, nationwide rent prices were up 5.1 percent in October, while asking prices were up 2.9 percent during the same period when including foreclosures. Chicago, which saw a 5.3 percent yearly dip in asking prices in October, still experienced a 7.7 percent gain in rent prices during the same one-year period. » Read More     - sunil   SUNIL SETHI REAL ESTATE Helping Families Find Homes with Great Schools in Fremont, Newark and Union City. Love Us on Yelp!   Like Us on Facebook     Property Search | Featured Listing | Neighborhoods | Home Value | School Score | Property Tax    To access most updated listings on MLS from your phone, Download my FREE app from "My Mobile App" .    

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date. Housing Inventory Snapshot October 28, 2012   Average List Price Median List Price Average Days On Market Santa Clara County, CA Single Family under $1M $637,756 $634,000 50 Single Family over $1M $2,648,325 $1,889,000 78 Condo/Townhome under $600K $379,592 $387,500 39 Condo/Townhome over $600K $919,110 $800,000 30 San Mateo County, CA Single Family under $1M $676,103 $659,000 40 Single Family over $1M $3,767,741 $2,249,000 79 Condo/Townhome under $600K $409,327 $450,000 86 Condo/Townhome over $600K $832,885 $735,000 33 Santa Cruz County, CA Single Family under $1M $606,040 $615,000 74 Single Family over $1M $2,196,994 $1,650,000 128 Condo/Townhome under $600K $354,796 $349,000 95 Condo/Townhome over $600K $862,877 $749,000 127 Monterey County, CA Single Family under $1M $511,911 $449,000 75 Single Family over $1M $3,1