The Numbers that may change your plan for 2015! Santa Clara County Market update 12-17-14

Today there are 1244 single family homes, condos and town homes for sale in Santa Clara county.  If you were looking for a single family home, condo or town home you would have 1244 to choose from.  One month ago there were only 844.  In December of 2013 the median days on market was 19.  In November of this year it was 14 days.  The sale to list price ratio one year ago was 102%,  in October  of this year it was 102.9% and last month it was 102.8%.  In December of 2013 there were 1162 closed  sales in Santa Clara county.  In October of this year, 2014, 1371 homes sold and in November, 1025 single family, condos and town houses sold.  The median sale price in December  of 2013 was 660K, in October of 2014 it was 755K and last month is was 754,400K.  In October there was 1.3  months of inventory in the county, in November  it went down to 1.1 months.

If you have questions about how this market affects you, I'm only a phone call away!

Don't miss this Santa Clara County Market update. 12-9-14

Today there are 1044 single family homes, condos and town homes for sale in Santa Clara county.  If you were looking for a single family home, condo or town home you would have 1044 to choose from.  One month ago there were 1429.  In December of 2013 the median days on market was 19.  In November of this year it was 14 days.  The sale to list price ratio one year ago was 102%,  in October  of this year it was 102.9% and last month it was 102.8%.  In December of 2013 there were 1162 closed  sales in Santa Clara county.  In October of this year, 2014, 1371 homes sold and in November, 1025 single family, condos and town houses sold.  The median sale price in December  of 2013 was 660K, in October of 2014 it was 755K and last month is was 754,400K.  In October there was 1.3  months of inventory in the county, in November  it went down to 1.1 months.

If you have questions about how this market affects you, I'm only a phone call away!

Don't hang your holiday lights untill you read these tips!

Safety First

• Don't use nails or metal hooks! They conduct electricity and can cause rust!
• Be safe on the ladder, try to minimize the number of times you have to go up and down, have a helper.
• Don't install lights in the Rain or Snow!
• Only use lights approved for outdoor use
• Make sure lights are in good condition.  Frayed cords can cause a fire!
• Tape extension cords down to avoid tripping hazards.

Before you begin

• Look for inspiration by walking around your neighborhood, looking in magazines or high end home furniture stores,  Use the style of your home as your guide.  Traditional homes call for more elaborate lighting, contemporary ones need more simple lighting. 
• Make sure you measure to make sure you have enough lights
• Get short strings that are easy to replace. If one string burns out and get male female strings that are easy to string together.  
• Test lights to make sure they work!
• Make sure the female and male parts of the lights are on the correct side.  You don't want to have to redo thee lights because you can't plug them in! 
• Make sure you have the right extension cord. 
• Use plastic hooks and clips to secure lights. They are easy to find this time of year and are inexpensive. 

How to

• Use the power source closest to the roof line. 
• It's OK to have extension cords go through windows.  You can use any sort of fabric to block the drafts  
• String lights along roof line and or windows.  Lights can hang in upside down arches or in tight  lines.  Pick one method and stick with it.  Periodically step away from your work to make sure the lights are all the same.  Keep in mind, it's OK to have lines and swoops, just not along the same string of lights.  
• To do columns and porches, wrapping the areas barber pole style works best.  Adding garland makes the lights look more finished and keeps them from slipping.  Another way to keep them from slipping is to get tacky clay from the hardware store.  Plastic coated twist ties are helpful with attaching lights to small branches or shrubs.  
• Net lights are great for decorating bushes and shrubs.  

For the advanced people

• Animated  lights are great for outlining shapes, like Santa or Words.  They are made of wire frames and are surrounded with little lights with a variety of patters and colors.
• Shimmer Spheres come in different shapes like, stars or snowballs and have lots of lights in a variety of sizes. 

December 2nd weekly market update

This is the weekly market statistic update for Santa Clara county.  Active listings refer to single family homes, condos and town homes currently for sale.  Pending means any of the above homes in the process of being sold.  DOM means, how many days on the market before the properties received an offer and began the process of being sold/ escrow.  Months of inventory is the length of time it would take to sell all properties if nothing new came up for sale.  The sale to list price ratio is the percentage of how much above or below the list price the property actually sells for. 
One month ago there were 1120 active listings in Santa Clara county.  Today there are 1050.  The median days on market in December of 2013 was 19 days, in November it was 14 days.  One year ago the sale to list price ratio was 102.1%, in October  of this year it was 102.9% and in November of this year it was 102.9%.  One year ago there were 1162 closed sales in Santa Clara county for the month of December.  In October of 2014 there were 1369 closed sales in Santa Clara county and in November of 2014 only 989.  The median sale price in December 2013 for properties in Santa Clara county was 660K, October of 2014 it was 760K and November's median sale price was 751K.  We had 1.3 months of inventory in October of 2014 and 1.1 months in November of 2014. Please contact me to see find out how these statistics affect you!

How will the non-permitted work affect the ability to get a loan?

Lots of properties in our area have work done on them that is done without permits.  Often, these modifications aren't noticeable.  That's probably because the work doesn't change the footprint of the home, such as an update to the kitchen or bathrooms.  Some changes, like enclosing a patio  or changing the number of bedrooms are more noticeable.  Especially since they will be different than the county records.  These changes won't necessarily make it a no go for the loan, but it's important that the following items  are considered. 

There can't be any Health or Safety issues with the home.
The work must be done in a professional manner.
The home must still be marketable.
The cost to return the home to it's permitted state and how the value would be affected. 

In the past if a home had non-permitted  work, a loan was very difficult to get.  Things are changing now and it's easier!

If you are considering buying a home that has work done without permits be aware  that the loan process might be more involved. 

Santa Clara County Market update 12-9-14

Today there are 1218 single family homes, condos and town homes for sale in Santa Clara county.  If you were looking for a single family home, condo or town home you would have 1218 to choose from.  One month ago there were 1248.  In November of 2013 the median days on market was 16.  In October of this year it was 15 days.  The sale to list price ratio one year ago was 102%,  in September of this year it was 102.7% and last month it was 102.3%.  In November of 2013 there were 1333 closed  sales in Santa Clara county.  In September of this year, 2014, 1441 homes sold and in October 1524 single family, condos and town houses sold.  The median sale price in November of 2013 was 655K, in September of 2014 it was 720K and last month is was 735K.  In September there were 2 months of inventory in the county, in October it went down to 1.6 months.

If you have questions about how this market affects you, I'm only a phone call away!

Minimize the work and stress at Thanksgiving

• Defrost your turkey early! This can take a few days!
• Make dishes ahead of time and store in the freezer.  This works for casseroles, breads and some desserts. 
• Prepare ingredients ahead of time and store in refrigerator, on Thanksgiving day, assemble  and cook! This can be done with mashed potatoes, salads and sauces.  When it comes time to cook it will go a lot quicker.   
• Make sure you have enough plates, glasses utensils and serving pieces, don't forget serving utensils! Place post it notes on each serving dish to plan a head what will be served from what.  
• Check table cloths and napkins for stains and wash or replace if needed.  
• Set the the table a head of time.  
• Shower first thing in the morning.  That way time won't sneak up on you a few minutes before guests arrive!

Do you celebrate Friendsgiving?

The Urban Dictionary defines Friendsgiving as - The celebration of Thanksgiving dinner with your friends. This usually occurs on the Wednesday before or the Friday after Thanksgiving Day, since Thanksgiving is usually reserved for family gatherings.

Some people are far from family so Friendsgiving is a great alternative.  Others aren't close to family so that is their reason and lastly some of us can't get enough of a great turkey dinner!  The most important parts of Friendsgiving are food and fun so here are some ways to enjoy the celebration.


Ideas for guests

• Bring a dish to share

• Don't be super picky about your diet and expect the host to accommodate complicated food restrictions.  
• 
  
• Help set up or clean up
• 
  
• Bring a game to play

Ideas for Hosts

• Plan ahead and get as much work done as possible before the big day
• 
  
• Have some food options for guests that might be on restrictive diets
• 
  
• Don't be afraid to ask for help!  It can be in any form, including borrowing items for the celebration like tables, dishes etc.  

Happy Friendsgiving!

Weekly Santa Clara Conty Market update 11-17-14

The statistics I give refer to Santa Clara county single family homes, condos and town homes. 
One month ago there were 1698 active listings for sale.  Today there are 1244.  One year ago the median days on market was 15, today it is 13.  The sale to list price ratio in November of 2013 was 102.5%,  in September of this year it was 103.1% and in October it was 102.8%. There were 1184 closed sales in November of 2013.  There were 1310 closed sales in September and in October 1359.  The median sale price a year ago was 685K, in September of this year it was 730K and in October it was 760K.  Lastly, we had 1.6 months of inventory in September and in October we had 1.3.

I'm happy to answer any questions you have about the market and how it affects you!

Are these issues that are important to you?  Investigate them to avoid costly mistakes!

Great ways to save water!

What ways do you save water?

Avoid these mistakes when selling your home!

These are mistakes that con be avoided by using a reputable realtor.  Ask friends and family for a recommendation.  

Happy Vetrans Day! Things to know about VA loans

VA loan options and facts

• You can purchase a condo, a single family home or a  unit in a VA-approved project
• Construct a home
•  Purchase and improve a home at the same time
• Renovate a home by installing energy-related features or making energy efficient improvements
• Buy a lot and/or manufactured home.
• The spouse of a Veteran can also apply for home loan eligibility under certain conditions
• You can get more than one VA loan, as long as the property on which the VA loan was used for was sold and the VA loan was paid in full. 
• VA loans are sometimes assumable
• No loan limits
• No down payment required
• No PMI required 

Call your favorite lender to get more information about VA loans.  

Santa Clara County weekly market update November 10th, 2014

One month ago there were 1738 active listings in Santa Clara County.  Today there are 1429.   Active listings consists of condos, town homes and single family homes.  The median number of days on the market for listings in Santa Clara county one year ago was 16.  Now the median is 15 days.  The sale to list price ratio has in creased.  Last year is was 102.5% in October is  it was 103.1%.  Last month the sale to list price ratio is 102.7%.  In November of 2013 there were 1184closed sales in Santa Clara county.  In September of 2014 there were 1314 and in October 1355.  The median sale price this time last year was 685K, in September it was 730K and in October it was 760K.  We had 2.3 months of inventory in September and in October we have 2.6.  Please contact me to answer any questions you have about how this market affects you!

What gets you the most bang for your buck?

Which remodel are you considering? 

Is it time for a new fence?

With winter coming fences can often get damaged.  The existing laws regarding fences for neighbors in California has been on the books since the 18702s.  Now the law has been updated. 

 The updated law states that unless both parties have an prior written agreement otherwise, neighbors share equal responsibility for maintaining fences.  They also share equal benefit from the fence.  Because of that they must share the responsibility for  the reasonable costs of construction, maintenance, or necessary replacement of the fence. 

When you decide to make repairs or replace the fence and are asking your neighbor to share the cost  you need to give 30 days prior written notice to all neighbors that share the fence.  The notice must include the cost of construction, maintenance  or replacement cost.  It has to include a a description of the work being done, what the problems are that prompting  the work, a solution for the problem and an estimate of the costs and how you want to split the costs.  Lastly it needs to include a timeline.  

 If your neighbor disagrees that they enjoy equal benefit from the fence, it must be proved that making them pay equally for the maintenance and construction costs would not be fair.  The following are factors that can be considered.  

• The cost of the fence is substantially less than the benefits that the neighbor gets from  the fence
•  
• The fence is would be more expensive than the difference of the property before and after it's installation.  Example:  If the property is worth $1000.  the fence costs 500 and would only bring the value of the land up to 1300 
•  
• If your neighbor can give proof that the repair or replacement of the fence would cause them financial hardship.  
•  
• The project is considered unreasonable, taking the following factors into consideration.  The costs are excessive or unnecessary, If the costs of the fence seem to be the result of the neighbor's personal choices ascetically,  or architecturally 

If,  based on the above factors, a decision can't be reached between the two of you.  You can go to small claims court and a judge will take everything into consideration and come up with one of the following scenarios.  The court can divide up the costs as it sees fit, which may be equal between both owners, having one owner pay more or even one homeowner pay all. 

Weekly market update 11-3-14

Today there are 1490 single family homes, condos and town homes for sale in Santa Clara county.  Last month there were 1736.  One year ago the median days on market was 15, it is 15 days for the month of October as well.  In November of 2013 the sale to list price ratio was  102.5% in September of this year it was 103.1% and in October is was 102.8%.  One year ago there were 1184 closed sales of town homes, condos and single family homes in Santa Clara county.  In September there were 1314 closed sales and in October there were 1296.  The median sale price of town homes, condos and single family homes in Santa Clara county this time last year was $730, 500K and last month it was $770,000K.  In September we had 2.4 months of inventory and last month we had 3 months of inventory.  Call me with questions about how you can buy, sell or invest!

Everything you need to know about Dia de los Muertos

Dia de los Muertos is a holiday gaining popularity in the US.  It’s celebrated on November 1st and sometimes 2nd and stands for Day of the Dead.  It’s celebrated all over Latin America but is most often associated with Mexico because that’s where the tradition started.

Dia de los Muertos is a day to  honor the dead with parties and festivals, a typically Latin American custom that combines indigenous Aztec ritual with Catholicism, brought to the region by Spanish conquistadors. (Dia de los Muertos is celebrated on All Saints Day and All Souls Day, minor holidays in the Catholic calendar.)

Dia de los Muertos celebrates the lives of loved ones that have passed away with food, drink, parties, and activities the dead enjoyed in life. Dia de los Muertos recognizes death as a natural part of the human experience, a continuum with birth, childhood, and growing up to become a contributing member of the community. On Dia de los Muertos, the dead are also a part of the community, awakened from their eternal sleep to share celebrations with their loved ones.

The skeletons and skulls that are seen a lot during Dia de los Muertos are called calacas and calaveras.  They are one of the more well known symbols of the holdiay.  They are seen in dolls, parade masks and sweets.  
 

One of the especially great things about Dia de los Muertos is that even though it’s a holiday from Mexico, it can be personalized and blended into your individual worldview.  It’s more of a cultural holiday rather than a religious one.  By celebrating the lives of our loved ones with art, music, cooking and spending time with family it helps ease the pain of losing those we love. 

Be Safe on Halloween! Tips for avoiding saftey scares!

Make sure you are easily seen, use flashlights, glow sticks, reflective tape, stickers or wear light colors. 

Use face paint instead of masks, which can impair vision.

Cross streets at corners and look both ways.

Swords, knives, and other costume accessories should be short, soft, and flexible.

Loose fitting or long costumes can cause a tripping hazard or catch fire.

Be aware of how close you are to Jack o lanterns and luminaries to prevent fires or burns.

Don't accept unwrapped treats from strangers.

Decorate costumes and bags with reflective tape or stickers and, if possible, choose light colors. - See more at: http://www.safekids.org/tip/halloween-safety-tips#sthash.iXDMfBbV.dpuf

mDecorate costumes and bags with reflective tape or stickers and, if possible, choose light colors. - See more at: http://www.safekids.org/tip/halloween-safety-tips#sthash.iXDMfBbV.dpuf

Decorate costumes and bags with reflective tape or stickers and, if possible, choose light colors. - See more at: http://www.safekids.org/tip/halloween-safety-tips#sthash.iXDMfBbV.dpuf

Decorate costumes and bags with reflective tape or stickers and, if possible, choose light colors. - See more at: http://www.safekids.org/tip/halloween-safety-tips#sthash.iXDMfBbV.dpuf

Sold!

It's wonderful helping my clients achieve their goals!

Fun Facts about Daylight Saving

Don't forget to change your clocks on November 2nd!
What do you think of Daylight Saving?  Love it or hate it, here are some things you might not know about it. 

1. Daylight Savings time is not correct.  It's Daylight saving time.  (it's even incorrect in the graphic I used) 
2. Benjamin Franklin is not the originator of DST.  This misconception comes from a satirical essay in which he suggested Parisians wake up at dawn in order to use sunshine instead of candles which would save the modern-day equivalent of $200 million dollars.  This was  a proposed change in sleep schedules, not  the time.  
3.  The first county to enact daylight saving time was Germany in 1916.
4.  Daylight saving time affects over a billion people a year and is used by over 70 countries in the world. 
5. American farmers were deeply opposed to DST.  Farmers schedules are dictated by the sun, not the clock.  Daylight savings was very disruptive to farmers.
6. It has been retail outlets and recreational businesses that have been strong supporters of DST over the years. 
7. Franklin D. Roosevelt started daylight saving in the USA on February 9th 1942. 
8. Originally the time zones were called Eastern War time, Central War time and Pacific War time.  When the war was over the zones were re-named "peace time"
9. DST hasn't always been standardized. From 1945 to 1966 states and localities were free to choose when and if they observed DST.  

Is a Piggyback Mortgage right for you?

My preferred lender reviewed the pros and cons of a Piggyback Mortgage today.  Talk with your lender to see it it's right for you. 

The Benefits of a Piggyback Mortgage

Lenders who specialized in second mortgages as well as mortgage insurance companies took the largest hit during the housing meltdown. For a long time, neither second loans nor private mortgage insurance  were nowhere to be found. Over time, they have both come back, and recently, come on very strong. As we announced last week, Fannie Mae will be rolling out a 3% down option without the need for lifetime mortgage insurance. But what if you have 10% down? Should you use mortgage insurance or a second mortgage?  Here are some pros and cons of the use of mortgage insurance:

PROS

1. Eliminates mortgage insurance .

2. Increase purchasing power 

CONS

 1. The rate is adjustable

 2. DTI is set at 38/45

Assuming a $600,000 purchase price with 10% down, check out the differences in payment:

$2326    for a $480,000 1st Loan                $2617    for a $540,000 1st Loan

  $262    for a $  60,000 = 2nd Loan            $230  for Mortgage Ins

$2588    total payment                                    $2847   total payment

Santa Clara County Market update 10-27-14

    

One month ago there were 1821 single family homes and condo/town homes on the market.  Today there are 1583.  The median days on market for single family homes and condos/town homes was 34 days this time last year.  In September it's 39 days.   The sale to list price ratio last year at this time was, %102.6, in August of this year it was %103.2 and in September it is %103.1.  Last year at this time there were 1436 closed sales of single family homes and condo/town homes.   In August the number was 1334 and in September it was 1313.  Last year the median sale price for single family homes, condos and town homes was $680K.  The median price in August was $760K and in September it was $731K.  The months of inventory for Santa Clara county in August was 2.3 and in September it was 2.4.  Please contact me to find out how these stats affect you!

Important things to keep in mind when doing a rentback

Rent backs are common when buying or selling a home.  The process will go much more smoothly if you plan ahead.

• Negotiate the terms of the rent back when you are negotiating the purchase contract.

It's best to be clear from the beginning.  Everyone is happy and willing to compromise at the start of the deal.  It avoids unpleasant surprises in the middle or the end of the deal. 

• PITI stands for Principle, Interest, Taxes and Insurance.

Often a rent back price is based on this term.  It's roughly the monthly mortgage divided in to 30 days.  It's best to come up with a specific dollar amount rather than this vague term.  You can use an online mortgage calculator to come up with a dollar amount. 

• Understand the difference between a 30 day or less rent back and a rent back that is more than 30 days.  

There is a big difference in California between a 30 day or less rent back and a rent back for more than 30 days.  A rent aback for more than 30 days is a lease.  It involves a lot more than the shorter rent back.  If the renter doesn't move out for some reason, you will have to go through the eviction process.  Keep this in mind for all rent backs, but especially distressed sales or with tenants. 

• The terms of the rent back don't have to be broken down by PITI, it can be a set dollar amount as well. 

My latest house crush

Often the dreams and reality of being a realtor don't line up.  Yesterday they did.  I got a call to give a free market analysis  of a home value. Walking distance from one of the many charming down towns that we here in Silicon Valley are so blessed with. It was a two bedroom, two bath, approximately  1200 square foot home  on a 8000ish lot.  A reasonable list price range would be  875k-900k.  Two adorable dogs, non barking and growling  (a blessing for realtors as well as postal carriers) an open, warm,  quirky homeowner.  I got to see inside a charming, delightful 1940's bungalow. The original details were all there, arched doorways, phone cutouts, hardwood floors. The updates were fantastic.  The kitchen was open and bright.  My favorite part was the perfectly sized back deck looking over the long and deep back yard that had thoughtfully maintained drought tolerant landscaping.  It had just enough shagginess to keep it balanced between ramshackle and inviting.   The  two car detached garage was finished of course.  Just when I thought it couldn't get any better it did, there was a fully permitted studio  with a full bath behind the garage.   I was so pleased to have a chance to sit on the comfy cushioned outdoor sofa and chat with the homeowner. Even though I only spent 15 minutes or so in the home, I am glad to experience it.  I'm sad I wont get to sell it, though I can understand why the owners wouldn't want to part with it. 

What's more scary, ghosts or trying to get building permits for the Winchester Mystery house? Places to get your geek on this season.

 Few places capture the spirit of the season and the je ne sais quoi of our area like the Winchester Mystery house.  The article below gives intriguing suggestions on places that not only give us a  scare but,  brain teasers too. 





Great article about Spooky places in Silicon Valley

Market update October 20th 2014

One moth ago, there were 1824 active listings in Santa Clara county.  Today there are 1643.  The median days on market one year ago was 15,  last month it was also 15.  This time last year the sale to list price ratio was 102.6%, in August of this year it was 103.2% and last month it was 103.1%.  One year ago there were 1436 closed sales in Santa Clara county.  In August, there were 1334 and last month there were 1311.  The Median sale price in September was731K.  In August it was 760K and in October of 2013 it was 680K.  Lastly, there were 2.4 months of inventory in August and 2.6 months of inventory in September.  If you have any questions about the market, your home value or if you know someone that needs my help,  let me know!