Milpitas Real Estate Market Update 02-08-2018

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1) Milpitas MLS Market Update
-new listings:
-1628 Quail Dr 4bd 2 1/2ba $1,500,000
-119 Heath St 4bd 2ba 1520sf $948,888
-484 Oroville Rd 2bd 21/2ba `1350sf $850,000
-Open House Sat/Sun 2/10 & 2/11 1pm-4pm
210 Butler St, Milpitas $998,888
-Coming Soon-
1909 Grand Teton Dr, 4bd 2ba 1800sf $1,198,888
690 Lexington Dr 3bd 2ba 1100sf $899,888
2) Current Interest Rates
-4.375% 30 yr fixed conforming
-3.875% 15 yr fixed conforming
-4.5% 30 yr fixed jumbo
-4.0% 15 yr fixed jumbo
rates have risen slightly
the stock market has dropped drastically…..1100 pt drop on Monday 2/05
3) San Jose Mercury News Articles-
-“There’s a house….wait, it’s gone”- 1/26/18
Average time from listing to sale is ‘a very, very low number’…..9 days
average in Santa Clara County
-“Tips to help you avoid being scammed by a contractor”- 1/27/18
-Make sure contractor is licensed
-Count employees
-Become a cynic
-Use money as leverage
-Have a plan in place
-“To rent or own? Federal tax plan may muddle things”-A panoply of changes ‘will
make buying a house more costly’ according to a study–changes in the federal tax
law could complicate another equation for Bay Area residents-whether to rent or own
-“South Bay Tops Housing Hot List”- 1/30/18-
-Nine of Redfin’s 10 most desirable neighborhoods in the country are listed in
the San Jose metro area…….
-“Housing Crunch Intensifies”- 2/01/18
-Tight inventory pushed home prices higher in December; gains hit a historic
69 straight month
4) City of Milpitas- Update
-sign up to volunteer in projects around the City…join Milpitas Cares….
for more updates to City……