Milpitas Real Estate Market Update 02-01-2018

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VIDEO OUTLINE
1) Milpitas MLS Market Update
-20 pending sales
-no new listings for this week
Coming soon:
210 Butler St 3bd 2ba 1440sf lot size 6000 $998,888
1909 Grand Teton Dr 4bd 2ba 1800sf lot size 7500 $1,198,888
690 Lexington St 3bd 2ba 1100sf lot size 6500sf $899,888
Open House:
Sat/Sun 2/10 & 2/11 210 Butler St, Milpitas
2) Current Interest Rates
-4.25% 30 yr fixed conforming
-3.75% 15 yr fixed conforming
-4.375% 30 yr fixed jumbo
-4.0% 15 yr fixed jumbo
Interest rates have risen slightly from last week
Jobs report for January to be released this Friday……
3) California Association of Realtors- News
-“Conflicting Signals for 2018-Housing will be helped by strong fundamentals,
but tax changes are likely to hinder high-end markets”-NAR Chief Economist
Lawrence Yun, says, home price growth will stay positive, however, in
expensive markets in New Jersey, New York and California, homeowners who
had been able to deduct all of their property taxes will be able to deduct a
maximum of $10,000 due to the tax changes Congress enacted at the end
of 2017.
-“Homeowners Don’t Call It ‘Aging in Place’-
These improvements are popular for homeowners aged 55 to 75…
-Adding pullout shelves in kitchen cabinets
-Changing doorknobs to lever handles
-Installing a smart fire detection system
-Installing a smart security system
-Installing a smart thermostat
-Installing a voice-activated device
-Installing comfort-height toilets
-Installing grab bars in bathrooms
-“Tax Reform”- Class 1/25/18- Santa Clara County Realtors
-Mortgage interest cap of $750K debt for new purchases after 1/01/18
new loans…..loans prior are grandfathered in at $1M , under 2017 rules
-Home equity loans capped at $100K
-Refinancing mortgages OK if no cash out and loan term is not extended
4) Highlights from Milpitas Unified School District- 1/23/18 Board Meeting
-Knights of Columbus present MUSD Special Ed program with a donation
of $5,002.40
-“Escuela Parkway Pathway to the Future”, Mural painted by talented students
Russell Middle School student, Jeff Nguyen began a community service project
which included a group of students.
-“Congratulations MHS Honor Band Students”- Many have auditioned and been
accepted into some of the finest honor bands in the state and nation.

For updates to City of Milpitas………visit…….www.ci.milpitas.ca.gov