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- What is up with rates
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Posted by: hollybarr
15/05/09
Well, I gotta say on my blog as I say to all my clients… the market is CHANGING! I have buyers that refuse to believe me and still want to wait until prices go down further. I am seeing multiple offers 35 offers in some cases!!
There were 23 sales in the last week for Willow Glen. The week before was only 13! Price ranged from $1.6M on Dry Creek to $199,500 on Hull Ave. I just spoke to a builder who sold a house (before being on market) for close to $4million!!
Gotta love real estate… I do!
Posted by: hollybarr
27/04/09
My marketing guru husband Greg just put together a very cool guide to San Jose, CA that includes Campbell, Santa Clara, Mountain View, Sunnyvale, Cupertino, Cambrian and Willow Glen (neighborhoods within San Jose). There is information about schools, shopping and up to date home pricing -even a map of each area.
Let me know if you have an interest in recieving a Guide to San Jose. I hope to have it up on my site soon.
Posted by: hollybarr
28/02/09
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Posted by: hollybarr
10/01/09
A new buyer came to me the other day… actually, I was picking up my open house signs, she liked my aura and said I had something positive about me and she asked me for my card. Anyway, she is interested in finding a property in the $100,000 range. Suprised to say, there are over 15 condo’s available in Santa Clara County in that price range. Amazing!
The condo’s tend to be in the eastern area and over 20 years old. I am happy to send you a list of them if you are interested.
Posted by: hollybarr
From my in house lender at Intero Jadell Schadewitz jschadewitz@theloansource.com there is good and bad … mostly good news on the horizon…
There are greener pastures ahead of us in the Real Estate business in 2009. As of Monday January 5th the Federal Government has started buying Fannie Mae/Freddie Mac mortgage securities at a very low price. This action has brought tremendous support to conforming mortgage bonds this week. The Fed plans to buy mortgage securities for the next six month and essentially force mortgage rates to stay low for that period of time. There was talk of them doing this for 1 year, but the latest seems to be for six months.
What does that mean to you and me??? Well basically we will probably see the lowest 30 year fixed confirming interest rates in our life time. Forget about the all time low, this will be a record breaking year. And that means people will be buying! Now is the time to get out there and meet some buyers in the conforming loan price range. This range is basically $695,000 and below purchase price for those with 10% down, and $781,000 purchase price and below for those with 20% down. This is based on a max conforming/jumbo loan of $625,500. I would be out meeting people in the price range as much as possible.
Now for the not so good news. You and your buyers must come to expect massive volatility in mortgage rates and processing turn times for the next two months. Here’s the problem we are facing as lenders right now. The rates should actually be even lower than they are today, but they are artificially high due to a couple reasons. First, is that the lenders have hemorrhaged losses and are trying to take some profit off the table while its available. The second and most important reason the rates are artificially high is because the lenders can’t possibly handle the volume of people who want to get a loan. So in order to slow down people from submitting applications they will increase rates. We even saw a lender this week completely cut off locks mid day because they just can’t handle anymore. Because of this phenomenon lenders can quote 5.0% in the morning and 5.875% in that afternoon on the same day, and thus the massive volatility.
How did it get this bad with lenders being backed up? Well lenders have been cutting cost for the past year by laying people off. Everyone from loan originators, underwriters, doc drawers, funders, and processors. In addition to that about 70% of the institutions have gone out of business in 2007 and 2008. That leaves the people left to handle all the demand, and it’s not nearly enough. I talked to one lender who is currently doubling their staff to try to keep up. I personally believe it will be at least two months until the lenders and staff up and get caught up with the demand.
Time to buy is drawing near my friends!
Posted by: hollybarr
05/12/08
Today, I made a big move to Intero Real Estate. I look forward to continued success in real estate with the support of Intero. Basically, I moved right across the street! Easy and wonderful offices!
Posted by: hollybarr
30/11/08
Holiday spirit is in the air- smells like PINE! Lots of neighbors were busy putting up lights this weekend! I delivered 17 trees to my neighbors and many of them quickly put lights put them up and covered them with lights. The tradition for Willow Glen, in case you are curious, is to have them 6 feet from the sidewalk and have a white light on top. Whatever you do, enjoy it, we are very lucky to live here!
Holiday spirit smells like PINE!
Posted by: admin
06/11/08
Posted by: Sheila
03/11/08
Check out this cool article I found from my friends at Lookiloos.com. Great way to be green if you have the green…
It has been raining here lately in Northern California, so it been a little chilly for BBQing. But as you think about storing your lawn furniture, check out this find, the latest in hip patio furniture -the SOLo Lounge table. This sleek table not only generates power with it built in solar panels, but comes equipped with an ipod docking station and outlet so you can power up your laptop and cell phone off the grid. Looking at my old teak table – I am wondering, “What have you done for ME lately?”
These are built to order at about $12,000, but this is not the typical table you pick up at your local hardware store. Designed by Canadians, this piece not only is set up to collect solor rays, but is built to withstand temperatures well below freezing. Personally if it was that cold, I would be inside, but it is nice to know, you don’t have to worry about moving it.
Silicon cells are embedded in the top of the table to harness solar energy and transform it into clean energy. It collects enough energy to power up your 100 cell phones and 3 lap tops per day. One could connect an ipod and set the mood for a patio dance party. The table even lights up in a multitude of colors to really give your patio some extra pizazz.
This modern table is quite the conversation starter and does it all – where form meets function. All it needs is a margarita maker and it would be perfect for your next backyard soiree! (Then again, you could bring your own blender and plug it right in.)
Intelligent Forms
Vancouver, BC
http://intelligentforms.net/products/solo-lounge-table/
Posted by: hollybarr
29/10/08
I am suprised that this house is still for sale! So much charm, old world feel, history, beauty, LAND, details. Love this house!
Check out this link for more information about the historical aspect of the house! Historical 1252 Cherry Ave