adamibonfiglio
Adami Bonfiglio Realtors
Serving your real estate needs in the Bay Area & Amador County
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New listing in Santa Clara on the market today. It needs some work to bring it back to like new condition.
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Hit the market today. 670 E. Mission Street San Jose, CA 95112
Luna Park gem 2 bedrooms 1 bath $599,000
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Call us for your real estate needs. We will point you in the right direction.
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We have all of these homes open this weekend. 663 Azule Avenue San Jose $629,000 - 4575 Balmoral Park Court Fremont $879,000 - 748 Canoas Creek Circle San Jose $898,000
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Come by today. 2877 Caldeira Drive Livermore open from 1 - 4. $1,049,000
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Latest listing in Livermore CA, coming soon
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For 2013, Sereno Group ranked 61st in sales volume, 5th in average sales price, and 15th for overall percentage increase over the past five years.
Why we love working in this group!
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Two pending sales in the last week.
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Record appreciations in 2013
Average and Median prices for single family homes in Silicon Valley are up as much as 31% compared to 2012. Monterey and Santa Cruz have the highest median price increase at 31% and 29% respectively. San Mateo and Santa Clara Counties follow with an increase of 21% and 17% while San Benito checks in at only 4%. With only a one-to-two percent change month-overmonth, there appears to be stabilization in Silicon Valley’s rapid rise in single family home median price. San Benito is the exception where the low volume of sales has a more dynamic effect. Still, down only 6% is a big improvement in the San Benito County market since 2008.
Closed Sales have taken a significant hit compared to Oct. 2013, largely due to the cyclical nature of buyer/seller activity which is always heavier in the late spring and summer. The Holiday months are typically the slowest of the year for sales, new listings and development. More interestingly, as opposed to last year at this time, sales have declined at double digit levels across all counties.
Read more at http://www.mlslistings.com/NewsRoom/market-data-reports/current-month?utm_source=MLSListings+Real+Estate+%26+Housing+Update+-+November+2013&utm_campaign=November+2013+Market+Indicators&utm_medium=email#FuGPgXqDL5gzzO6A.99
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Consumer Confidence Bolstered by an Area Home Warranty
Consumer confidence certainly seems to wax and wane in a not-totally-predictable manner. What does seem clear is that when the future is cloudy, Bay Area homebuyers tend to tighten up their purse strings. It’s logical: if you can plan ahead with a greater degree of certainty, you feel better about making the kind of commitment buying a San Jose home entails.
If you plan on selling your home in San Jose this winter, you may not be able to do much about whether the economy grows or tanks, or the Federal Reserve expands or shrinks the money supply. But there IS at least one thing you can do to remove uncertainty from the minds of your prospective buyers. Just offer a home warranty!
A home warranty in Silicon Valley is an inexpensive plan that provides coverage for items that typically fall outside a traditional home insurance plan. The major kitchen appliances are generally only covered by your home policy if they are damaged in a fire, stolen, or suffer damage resulting from some other covered peril. A home warranty provides reassurance for a much broader scope of damage and mechanical breakdown. Warrantee buyers can also opt to include other large items in the home — like the HVAC system, boilers, water softeners and water heaters.
H.U.D. points out that a home warranty is an increasingly popular inclusion because it offers protection during the period immediately following a home’s purchase — the time when most local home buyers know they will “find themselves cash-strapped.” Although payment can be monthly or annual, most home sellers choose a one-time payment option.
In an uncertain world, are homebuyers reassured when a home warranty is part of your offer? Statistics from the National Home Warranty Association provide their own reassurance: they show that including a home warranty as part of the sale can help a home sell for up to 50% faster.
Even though a home warranty is an added expense, it’s an investment that can pay off in helping your home sell faster — possibly at a higher price, as well. Thinking of selling this winter? Call us today to discuss this and many other ways we can make it happen!
#homewarranty#adamibonfiglio#wintersales#sanjoserealestate#willowglen#willowglenrealestate#siliconvalleyrealestate#sanjose
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Keep Your Options Open When Buying a House in Willow Glen
This summer, the National Association of Realtors® reported the largest number of existing home sales since February 2007— and I expect we will see similar results when this fall’s final numbers come in. With more individuals looking to enter (or re-enter) the real estate market, buying a house in Willow Glen can be expected to continue to be newly competitive.
That does not mean that you should adopt a defensive mindset. Even after finding what looks like a great deal on a seemingly terrific home, it’s wise to keep an eye out for unexpected developments that could make it necessary to walk away from the deal. Some of the situations that usually don’t (but still can) trigger that option:
If the home inspection uncovers issues that you didn’t know existed, you have several options. The seller may offer to pay for needed repairs, or add a credit at closing. Depending on the extent of the problem, it’s sometimes wiser to simply take the credit and avoid complex amendments that could overcomplicate the contract. But if the seller refuses any concessions, it could be that you won’t be buying a house as quickly as hoped.
A mortgage can fall through unexpectedly. An abrupt change in employment, credit downgrade, or if the bank has trouble verifying income, an underwriter may back away from the table. Most often, financing contingencies in the paperwork will allow you to walk away from the deal.
An unexpectedly low appraisal can make buying a house financially unworkable. When a home appraises for less than the agreed-upon selling price, the bank will not finance. This means the seller will either have to lower his price, or you as the buyer will need to come up with additional cash to cover the difference. You may believe the appraisal is not a fair measure of the property’s true worth (at least to you) — but remember that should you later wish to sell, the next appraisal may not be much higher. In all cases, whenever you contemplate buying a house in Willow Glen, We are here to help you reach smart long-term decisions.
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Mistakes to Avoid As a First-Time Home Buyer
When a San Jose first-time home buyer begins hunting for the prize that has to serve both as a satisfactory home base and a solid investment, most feel a mixture of excitement (a home is a landmark achievement!) and maybe just a touch of apprehension. Like any expense you’ve never encountered before, it’s appropriate to take extra care the first time out — and to pay attention to what experience teaches. Along those lines, here are some mistakes that are easy for a first-time home buyer to make. Fortunately, they’re also easy to sidestep:
1. Waiting for a better rate
Adjustable rates may well be about as low as they’re going to get right now – and some signs point to an increase in the coming months. For a San Jose first-time home owner who will be taking out a loan, if the property is right, hesitating to make a commitment based on a loan rate gamble is seldom a good idea.
2. Thinking short term
Consider thinking of a home as a lifetime investment. Even for those who are single or newly-wedded, it’s possible that being open to a house with extra rooms could end up saving considerably on moving, transaction and agent fees, taxes, etc. It’s equally important to look at neighborhoods and how they are changing and developing. If you do resell your home, location can make a big difference in how.
3. Underestimating hidden costs
The monthly mortgage payment isn’t the ultimate bottom line. When a first-time home buyer comes across a property that fills (or exceeds) everything he or she has been looking for, if the mortgage payment looks to be right, it’s easy to overlook other homeowner expenses. Experienced buyers make hardheaded estimates of maintenance fees and property taxes — they will be every bit as consequential as the mortgage bill.
For a first-time home buyer in San Jose, when thoughtful perspective goes into your final decision, it’s that much more likely to be a decision that pays off in the long run. If you are preparing to buy this fall, We’ll be standing by to help get you started!
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Winter Months Bring Opportunities Along with Challenges
When you step outside and feel a crisp chill in the air, you know it: winter is on the way. If events have so ordered themselves that you find yourself selling your home in San Jose during the winter months, you’re probably aware that it is not the preferred real estate season. Prospects are less likely to be out and about touring properties when the weather can interfere; the holidays take huge chunks out of everybody’s schedule (not to mention the havoc wreaked on family budgets) — plus, the aura of optimism that arrives at springtime won’t arrive until far in the future…
Nonetheless, selling your San Jose home during the winter months is eminently doable! In fact, because fewer offerings will be competing for the quite determined corps of would-be homebuyers, selling your home during the winter months can actually yield an outstanding result. Veteran sellers know how to maximize that prospect:
1. Advertise with spring or summer photos
Showing what your house looks like when the weather’s prettiest will be warmly received. Don’t rely on prospective homebuyers’ imaginations to do it as well.
2. Make your home cozy
Selling your home in San Jose during the cooler months is actually an opportunity to show it at its “homiest.” Light the fireplace; turn on all the lamps; bake those chocolate chip cookies (or light scented candles — cinnamon is a holiday favorite).
3. Fine-tune the thermostat
People are turned off when a home feels chilly — just as they appreciate stepping into a warm and cozy listing (especially if they were just touring a vacant home).
4. Set a reasonable asking price
If you are going to be selling your home in San Jose during the holiday season, it’s not the best time to “test the market.” Selling in a timely manner requires pricing the property accurately. You want to motivate the serious buyers to take a break from holiday obligations to turn out to view your house.
If you’ve been contemplating the idea of selling your home in San Jose, know that there will be winter buyers out there. Call us today — let’s find them!
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Housing Prices in U.S. Cities Rise by Most Since Early 2006
Home prices in 20 U.S. cities rose in August from a year ago by the most since February 2006 as stronger demand boosted values.
The S&P/Case-Shiller index of property prices in 20 cities increased 12.8 percent from August 2012, more than forecast, after a 12.3 percent gain in the year ended in July, a report from the group showed today in New York. The median projection of 28 economists surveyed by Bloomberg called for a 12.5 percent advance.
Tight inventories have boosted prices as buyers compete for a limited number of properties for sale. While housing continues to be a source of strength for the economy, higher mortgage rates and limited improvement in the labor market and wages risk slowing the pace of progress.
“There’s still decent enough demand with little supply so home prices continue to perform,” Kevin Cummins, an economist at UBS Securities LLC in Stamford, Connecticut, said before the report. “It’s unclear how much rising mortgage rates in the last few months slow housing sales in the near future.”
As of August, average home prices in the U.S. were back to their mid-2004 levels, and the 20-city index was up 22.7 percent from its March 2012 low.
Estimates in the Bloomberg survey ranged from year-over-year price gains of 11.6 percent to 12.9 percent. The S&P/Case-Shiller index is based on a three-month average, which means the August figure was influenced by transactions in July and June.
The July reading previously was reported as a year-over-year advance of 12.4 percent.
Monthly Gain
Home prices adjusted for seasonal variations rose 0.9 percent in August from the prior month after a 0.6 percent increase. That compares with the Bloomberg survey median of a 0.7 percent increase.
The month-over-month price gains were led by Las Vegas, followed by Los Angeles and San Diego. Property values rose in all 20 metropolitan areas.
“The monthly percentage changes for the 20-city composite show the peak rate of gain in home prices was last April,” David Blitzer, chairman of the S&P index committee, said in a statement. “Since then home prices continued to rise, but at a slower pace each month. Recent increases in mortgage rates and fewer mortgage applications are two factors in these shifts.”
Unadjusted prices climbed 1.3 percent in August from the previous month.
The year-over-year gauge, which uses records dating back to 2001, provides a better indication of price trends, according to Karl Case and Robert Shiller, creators of the index. Earlier this month, Shiller was one of three economists awarded the 2013 Nobel Prize in Economic Sciences for research on how financial markets work and assets such as stocks are priced.
All Increase
All 20 cities in the index showed a year-over-year gain, led by a 29.2 percent increase in Las Vegas. Values advanced 25.4 percent in San Francisco and 21.7 percent in Los Angeles.
Higher borrowing costs are already starting to bite. Fewer Americans signed contracts to purchase existing homes in September, the National Association of Realtors reported yesterday. The group’s index fell 5.6 percent, the most in more than three years and the fourth straight decline.
Existing-home sales, measured when a deal closes, also fell in September for the first time in three months, the Realtors’ group reported last week. Purchases dropped 1.9 percent to a 5.29 million annual rate.
Mortgage Rates
The average rate for a 30-year fixed mortgage was 4.58 percent in the week ended Aug. 22, the highest level since July 2011. It’s since fallen, averaging 4.13 percent for the week ended Oct. 24, according to Freddie Mac in McLean, Virginia.
Homebuilders and their suppliers are getting a lift from the housing recovery. Weyerhaeuser Co., a timber supplier and developer based in Federal Way, Washington, expects to close more than 1,100 homes in the last three months of this year, up about 35 percent from a year ago, President and Chief Executive Officer Doyle Simons said.
“We continue to be encouraged as long-term favorable housing fundamentals remain in place,” Simons said on an Oct. 25 earnings call. “With that said, the housing recovery appears to have taken a slight pause due to higher home prices, higher interest rates, although still very low by historical standards, slowing job growth and the antics of our government.”
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3 Questions to Ask Before Buying a Amador County Vacation Home
As the housing market continues its recovery, sales of vacation homes in Amador County are part of the national picture reported by the NAR — which tells us that vacation home sales rose by over 10% last year.
While owning your own vacation home in Amador County automatically sounds great, a thoughtful reality check is always in order. Particularly when a vacation home is involved, it minimizes the likelihood of making an overly emotional decision (and eventual buyer’s remorse).
The first question to ask is How often will we actually use the home? If you travel to Amador County just once a year for a week or less, keep in mind that, in addition to the purchase price, your actual costs include insurance, real estate taxes, and upkeep on the property. It’s likely you’d be dollars ahead by simply renting a home. On the other hand, if you stay for weeks or months at a time (or eventually plan to retire in Amador County), the investment looks a lot more practical.
Next question: Do I have a maintenance plan? Maintaining a vacation home in Amador County needs to be considered, particularly if you live hours away. You’ll need to find a local to ensure that the property is well maintained and protected. Consider working with a Amador County property management company to outsource oversight or local handy person. This approach can change the entire landscape, if it enables you to rent the home and turn it into an investment property when you are not using it.
And a vital question: How does the asking price compare? Very often, people visit Amador County, fall in love with the place, then find what they know is the perfect house! That’s precisely why working with a Amador County Realtor® is key: you need to enlist the knowledge of a local professional in order to get timely, accurate input on its actual market value and other issues that may impact the property. It is really the prudent way to protect your interests.
A thoroughgoing reality check makes buying a vacation home in Amador County a levelheaded and worthwhile decision. We are here to make sure that happens!
#adamibonfiglio#jacksonrealestate#suttercreekrealestate#secondhomerealestate#buyingasecondhome#serenogroup
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