You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!
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."
3949 Arbuckle Dr
San Jose, CA 95124
$1,368,000
Sat 11/9, 1:30PM - 4:30PM
Sun 11/10, 1:30PM - 4:30PM
1610 Ventura Dr
Morgan Hill, CA 95037
$1,650,000
Sun 11/10, 1:00PM - 4:00PM
10350 Heney Creek Pl
Cupertino, CA 95014
$2,799,000
Sat 11/9, 2:00PM - 4:00PM
Sun 11/10, 2:00PM - 4:00PM
3667 Lago De Bracciano St
San Jose, CA 95148
$1,498,800
Sat 11/9, 1:30PM - 4:30PM
Sun 11/10, 1:30PM - 4:30PM
1375 Phelps Ave #2
San Jose, CA 95117
$598,888
Sat 11/9, 1:00PM - 4:00PM
Sun 11/10, 1:00PM - 4:00PM
430 Galleria Dr #8
San Jose, CA 95134
$980,000
Sat 11/9, 2:00PM - 4:30PM
1932 Foxworthy Ave
San Jose, CA 95124
$1,020,000
Sat 11/9, 1:00PM - 4:00PM
Sun 11/10, 1:00PM - 4:00PM
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5137 Dupont Ave
Newark, CA 94560
$749,000
Sat 11/9, 1:00PM - 4:00PM
A study by the National Association of Home Builders and Wells Fargo shows that housing affordability is at a 3-year high. Grab your homeowner opportunity today!
Thanks to lower mortgage rates, housing is more affordable than it’s been in 3 years "As the latest data from Freddie Mac shows, mortgage rates now sit at 3.69%, more than a full percentage point below where they were at this time last year, when the market rate was near 5% (4.94%, to be exact). Rates stayed at the same level through the second week of November 2018, but that was as high as they climbed, as rates then began dropping and continued dropping throughout much of this year. And that full-percentage-point-drop has been very good for homebuyers, as the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows that housing affordability climbed in the third quarter to the highest level since 2016."
According to a new survey, more Millennials are now entering the housing market. Read on to find out what features are on the wish list of these first-time homebuyers.
What’s on the Wish List of First-Time Buyers?
"Millennials tend to have higher expectations than older homeowners did about their ideal starter home, according to a new survey by Clovered, a home insurance resource. Millennials tend to want larger homes with modern designs. More millennials are entering the housing market for the first time. Clovered recently surveyed more than 1,000 consumers about their first home to learn which features and amenities mattered to them the most."
According to the latest housing market news and analysis, home prices are climbing—due in part to low inventory and mortgage rates. Don't miss your opportunity in this competitive environment!
October 2019 Monthly Housing Market Trends Report
"Realtor.com®'s October data release shows that U.S. housing is heading into an increasingly competitive market as inventory declines, the pace of sales reaccelerates, and the share of price cuts stabilizes for the first time since spring 2018."
