Market Update 01-05-2017

VIDEO OUTLINE
1) Milpitas Market MLS Update
-Current homes for sale 11
-Pending homes 18
2) New listings in Milpitas
-226 Summerwind Dr, 4bd 21/2ba 1767sf $899,000
-1384 Fallen Leaf Dr, 4bd 21/2ba 1824sf $888,000
-378 Spring Valley Ln, 4bd 2ba 1766sf $899,888
3) Open house weekend 1/14 & 1/15- 378 Spring Valley Lane,
4) Economic Market Movement
-US LIBOR tops 1% for first time since 2009, based on positive outlook on business
activity after Trump victory
-US Construction spending increased 0.9% from October to November, the sixth increase in
seven months
-The ADP Employment report showed the addition on 153,000 jobs in December, while still a positive
gain, the number is slightly less than predictions and significantly less than November’s additions
5) Mortgage Interest Rates(slightly lower)
-30 yr fixed conforming 4.125%
-15 yr fixed conforming 3.375%
-30 yr fixed jumbo 4.375%
-15 yr fixed jumbo 3.625%
6) Update from Chamber of Commerce Community Breakfast meeting 1/10/17
-Cheryl Jordan, Superintendent of Milpitas Unified
Community College Credits given for special classes at Milpitas High and Calaveras High
-Richard Tran, Mayor
Housing Development- managing growth
Need for more schools- population 80,000
Stop Newby Island landfill expansion
Mitigate traffic
Lower water utility rate

7) Effects on Home Market Value
-Property characteristics
-Location
-Home Condition
-Market Condition/ Economy
-Financing
-Comparable Properties

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