Milpitas Real Estate Market Update 01-18-2018

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VIDEO OUTLINE

1) MLS Mipitas Market Update
– 10 pending sales
-new listings:
-1255 Sunrise Way 4bd 3ba 1885sf lot size 5000sf $1,188,888
-1587 Mt Shasta Ave 4bd 2ba 1737sf lot size 5713sf $1,098,888
-305 Hazen St 3bd 1 1/2ba 1064sf lot size 6176sf $948,000
-521 Oroville Rd 2bd 2 1/2ba 1459sf lot size 2891sf $849,888
-coming soon (Master Brokers)
-210 Butler St 3bd 2ba 1440sf lot size 6500sf $998,888
-1909 Grand Teton Dr 4bd 2ba 1800sf lot size 7500sf $1,098,888
Open House Sat/Sun 1/20 & 1/21 1pm-4pm
-135 Casper St, Milpitas 3bd 2ba 1400sf lot size 7500sf $998,888
2) Current Interest Rates
Rates have risen slightly!! Economy/ Stock market is expanding!
-4.125% 30 yr fixed conforming
-3.5% 15 yr fixed conforming
-4.25% 30 yr fixed jumbo
-3.625% 15 yr fixed jumbo
Real Estate Market Outlook- per Carole Rodini, CAR’s economist- 1/12/18
-low inventory
-people living longer
-lost of “prop 13”, creates low inventory, because of property tax
-upscale “mobile home”parks, will be in demand for seniors
-$75/ document fee, levied for Affordable Housing Fee
-work with qualified agents
-agents should live in the area, they work, better knowledge
-good agents will network
-good team, (title company, inspectors, etc)
-a good agent adds value
3) San Jose Mercury News Articles-
“Housing Market to Get Even Hotter”-1/11/18
-Online real estate firm’s report predicts South Bay prices to jump 8.9%
Over the past five years, San Jose home values have appreciated
78 percent…..
“Making a Move With School-Aged Kids”- 1/09/18
-According to (NAR) National Association of Realtors report, the biggest
concern for home sellers with children is that their home be sold within a
specific time frame, primarily due to a desire to have children settled before
a new school year begins.In the bay area, though, this is not necessarily
the case. Many families are enrolled in private schools, and also focus on
summer vacations, rather than looking for their home to purchase in the
June, July, August selling months. Private/ and public schools are well
equipped to help new students adjust an way they can……..bottom line,
your selling decision should be made when it is best suited to meet the
seller’s timeline.
4) City of Milpitas Update
-MUSD (Milpitas Unified School District) Board Highlights- 1/09/18
-Zanker Library to be named after Golden Altos Corporation in Honor of
$50,000 donation…..this local company will have the name for 5 years….
-Milpitas High School Varsity Football recognized for capturing State
Championship- A first in MHS History
-Board ratified second term for officers, continues current site/committee
assignments

for other City of Milpitas updates…..www.ci.milpitas.ca.gov