Market Update 12-22-2016

1) Milpitas MLS Update-
        (17) pending single family home sales
2) New Milpitas Listings-
       -356 Heath Street  3bd 2ba  1253sf  $699,000
3) Current Interest Rates:
        The Fed raised the discount rate last week, here are today’s rates:
          -4.25% 30 yr fixed conforming
          -3.50% 15 yr fixed conforming
          -4.50% 30 yr jumbo
          -3.75% 15 yr jumbo
4) Post election economy news…..according to California Association of Realtors
          -Economy predicted to be uncertain
          -Taxation revisions are expected
                       -Mortgage deduction
                       -1031 Tax Deferred Exchanges
                       -Flat income tax, not certain what deductions will be removed
           -Financing
                       -Increase to loan limits
                       -Interest rates expected to be 6% in 2-3 yrs
           -Portability of tax base
                        -property tax base on one time basis, no age restriction, state-wide
           -50% of buyers under age of 36 yrs
            46% of buyers are first time home buyers
            Lack of inventory
            Affordability issue (particularly with higher interest rates)
            Rental market slowing down and some rents are decreasing
5) Lowest jobless rate in 15 yrs
           -Bay Area jobs 2,900 (November)
           -Santa Clara County 1,100 (November)
6) Milpitas News Updates-
           -Great Mall remodel (food court/dining) $1.4M
           -Xcerra Corp, semiconductor manufacturing co, $1.38M
           -Semi, semiconductor manufacturing co, $862,500
           -Improvements to Light Rail/ Landscaping and Midtown Street Light project
7) BART- 85% complete

Debbie Indihar Giordano
CEO/Master Brokers
408/945-8988
BRE# 00705857
“Local knowledge you can trust!”
Click here to Reply or Forward
1.83 GB (12%) of 15 GB used

Program Policies

Powered by

Google
Last account activity: 22 minutes ago

Details

Debbie Giordano
Add to circles
Show details
 M

Leave a Comment