Milpitas Real Estate Market Update 02-15-2018

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VIDEO OUTLINE
1) Milpitas MLS Market Update

*19 pending sales
*new listings:
465 Paseo Refugio
503 Odyssey Ln
1800 Armand Dr
*Coming soon (Master Brokers)
-1909 Grand Teton Dr
-690 Lexington St
*Open House activity
210 Butler St, Milpitas….
over 100+ families through
– 5 offers receiced Wed 2/14
– SOLD for $1,200,000
– Over Listing Price $998,888
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
3) San Jose Mercury News
-“Bay Area rental costs to stay high for 2018”- 2/06/18
Steady tech hiring, robust local economy and scarce supply to blame,
-“Student debt holding back millennials”- 2/07/18
The average millennial with a college degree earns $38,800yr, and carries
an average loan debt of $41,200…delaying financial prosperity and personal
milestones. (national statistic) National Association of Realtors
-“What do window performance ratings mean?”- 2/11/18
-two important labels…for upgraded windows…Energy Star Label and
NFRC certification label
-U-factor, franges from 0.20 and 1.20, tells you how well a window will
keep heat from escaping the inside of a room, the lower the number the
better the retention.
-Solar Heat Gain Coefficient (SHGC), ranges from 0 to 1, measures how well
a window can resist unwanted solar heat gain, the lower the number the less
you’ll spend on cooling in warmer temperatures
-Visible transmittance, ranges from 0 to 1, measures how well a window will
light your home with daylight. The higher the number, the more light is
transmitted.
-Air Leakage, leakage through cracks in the window assembly
-Condensation, rating on the NFRC label
Overall, high-performance windows offer a number of benefits, including
reduced energy costs, increased natural light and improved comfort in home
Highlights for the General Membership Meeting of the Board of Realtors- 2/09/18
-Appreciation for local area (4%)
-50% of buyers have cash
-3%- 10% over list price
-2004-13, 5 million people left California, in the next 5 years 195,000
people coming to Santa Clara County
-Silicon Valley, fastest growing economy in the world, 9%
-Millenial buyers looking for “trendy” neighborhoods
-2% unemployment rate in Santa Clara County
-5% unemployment in California
4) City of Milpitas Update
www.ci.milpitas.ca.govgher the number, the more light is
transmitted.
-Air Leakage, leakage through cracks in the window assembly
-Condensation, rating on the NFRC label
Overall, high-performance windows offer a number of benefits, including
reduced energy costs, increased natural light and improved comfort in home
Highlights for the General Membership Meeting of the Board of Realtors- 2/09/18
-Appreciation for local area (4%)
-50% of buyers have cash
-3%- 10% over list price
-2004-13, 5 million people left California, in the next 5 years 195,000
people coming to Santa Clara County
-Silicon Valley, fastest growing economy in the world, 9%
-Millenial buyers looking for “trendy” neighborhoods
-2% unemployment rate in Santa Clara County
-5% unemployment in California
4) City of Milpitas Update
www.ci.milpitas.ca.gov