Real Estate News & Market Trends

Are you struggling to find interested buyers for your home? If so, it may be time to reduce your asking price. Contact us for more knowledge and strategies.

Selling a home: When should you reduce the asking price?
"You spruced up your home, put half of your things in storage and don’t let your kids near any public room. And yet your property lingers on the market, unsold. So, when should you reduce the asking price? - Is your competition getting any action? Or is the entire neighborhood going through a slow patch? - How motivated are you compared to other nearby sellers? - Are you (or your agent) doing everything else right? Or could you do more?"

Did you know? The California Association of Realtors' latest report shows a steady housing market, with a gradual improvement in recent months due to the currently favorable mortgage environment. Don't miss your opportunity!

October home sales and price report
"California housing market holds steady in October, C.A.R. reports
- Existing, single-family home sales totaled 404,240 in October on a seasonally adjusted annualized rate, up 0.1 percent from September and up 1.9 percent from October 2018.
- October's statewide median home price was $605,280, down 0.1 percent from September and up 6.0 percent from October 2018.
- Year-to-date statewide home sales were down 2.6 percent in October."

With the holiday season coming up, everyone could benefit from some basic safety advice. Read on to learn more.

Keep Your Home Safe on Vacation: 9 Essential Tips
"We don't want to scare you—or leave you fearing for your treasured belongings while basking on a Caribbean beach. But it's imperative that every traveler take certain key steps to keep his or her home safe and sound while seeing the world. Basic preventative measures (which take only minutes to complete) can work wonders to help you keep your home safe from power surges, broken pipes, home invasions, and more while you're away."

Click on each property image or address to view more details!

3949 Arbuckle Dr
San Jose, CA 95124
$1,368,000
Sat 11/16, 1:30PM - 4:30PM
Sun 11/17, 1:30PM - 4:30PM

1375 Phelps Ave #2
San Jose, CA 95117
$598,888
Sat 11/16, 1:00PM - 4:00PM
Sun 11/17, 1:00PM - 4:00PM

430 Galleria Dr #8
San Jose, CA 95134
$980,000
Sat 11/16, 2:00PM - 4:30PM

1932 Foxworthy Ave
San Jose, CA 95124
$1,020,000
Sat 11/16, 1:00PM - 4:00PM
Sun 11/17, 1:00PM - 4:00PM

Cheaper mortgages and income growth have improved housing affordability in the 3rd quarter, according to the California Association of Realtors. Let us help you achieve your homeownership dream!

Cheaper mortgages and income growth improve housing affordability in third quarter, C.A.R. reports
"Thirty-one percent of California households could afford to purchase the $613,470 median-priced home in the third quarter of 2019, up from 30 percent in second-quarter 2019 and up from 27 percent a year ago.
A minimum annual income of $120,400 was needed to make monthly payments of $3,010, including principal, interest and taxes on a 30-year fixed-rate mortgage at a 3.85 percent interest rate.
Forty-three percent of home buyers were able to purchase the $465,000 median-priced condo or townhome. An annual income of $91,200 was required to make a monthly payment of $2,280."

The National Association of Realtors has identified the top triggers that motivate aspiring buyers in their latest homebuyers and homesellers report. Let us help you achieve your homeownership dream!

Non-Owners Agree: "I Want to Buy a Home"
"The National Association of REALTORS®' newly released '2019 Profile of Buyers and Sellers' report contained a new section this year, including a survey about non-owners and their views on homeownership. NAR released its annual report during the 2019 REALTORS® Conference & Expo in San Francisco this week. [...] The triggers that will most motivate aspiring buyers into homeownership sooner: marriage or starting a family (31%); improvement in their financial situation (30%); and the desire to settle in one location (16%)."

A 2018 survey by the National Association of Home Builders found that 76% of potential homebuyers estimated they could afford fewer than half of the homes for sale in their markets. With statistics like these, it’s no wonder many Americans think renting is their future.

However, with a little bit of hard work and dedication, that pipe dream could turn into reality. All it requires is dedication and some financial skill.

1. Take an inventory of your expenses. Even if you live paycheck to paycheck, chances are good there are at least one or two items you can do without. For example, do you pay a monthly subscription to Netflix, Hulu or Spotify? While monthly payments of $10 or $15 might not seem like that big of a deal on their own, they can quickly add up. Consider any subscription or luxury service you can do without. Canceling now doesn’t mean you have to cancel forever, it merely frees up some extra cash you can put toward buying a home. You can apply this mindset to your eating habits as well. For example, instead of eating out for lunch or getting a coffee every day, you can pack your lunch or make your coffee at home. Little practices like these quickly add up.

2. Establish a budget. Budgets are lifesavers because they help you determine how much money you can spend every week. There are necessary expenses such as rent, food, and utilities, and then there are miscellaneous expenses like entertainment and vacation. Establishing a budget provides a guideline to ensure you don’t spend above your means. If it’s easier, go to the ATM on Sunday night and take out all of the cash you’ll need for the week. With cash in hand, you’ll always know how much you have left to spend.

3. Open a high-yield savings account. A high-yield savings account is like a traditional savings account, but it yields higher interest. This means you get a higher return on your money and better results over time. There are a wide variety of high-yield savings accounts available. It’s recommended you meet with your personal banker to determine what type of high-interest savings account will best meet your needs.

4. Start a side hustle. The gig economy is transforming the way Americans make money. Thanks to platforms like Uber, Lyft, and PostMates, making a couple hundred dollars a week isn’t just possible, it’s easy. Hours are flexible and you can work as little or as much as you want. Give it a try, you might really like what you discover!

5. Don’t let anything get in the way of your goal. Many Americans think buying a home isn’t possible. Forget the naysayers! No matter your background or budget, you can achieve your dream. We have a wide variety of mortgage loan products that may provide access via conventional and unconventional means.

If you dream of owning a home and want to take the first step toward making it a reality, call our office today at (408) 212-8800. We look forward to working with you!

According to the latest NAR forecast, new home sales will likely rise to a 13-year high in 2020, with existing home sales also getting a boost. Are you prepared to meet this opportunity?

Sales of new houses will rise to a 13-year high in 2020, NAR's chief economist says
"New-home sales probably will jump 11% to 750,000, according to Yun's new forecast, which would be the highest reading since 2007. Sales of existing homes likely will increase 3.7% to 5.56 million in 2020, the highest tally since 2017, Yun said."

Experts say buying a home when you're young can help set you up for retirement. When was the last time you thought about your financial future? Contact us today to see how we can help.

Buying a home earlier in life can seriously boost your financial picture in retirement
"'Our analysis shows that those who bought their first home earlier are financially better off in their 60s. This suggests that deferring home purchases could have long-term economic consequences for Millennials and the nation's economic well-being,' the authors wrote."