Milpitas Real Estate Market Update 04-05-2018

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VIDEO OUTLINE:
1) Milpitas MLS Market Update-
-22 pending sales
-new listings:
-131 Fontainbleu Ct 4bd 2 1/2ba 2097sf lot size 7474sf $1,299,999
-1580 Quail Dr 4bd 2 1/2ba 1717sf lot size 6863sf $1,200,000
-2149 Shiloh Ave 4bd 2ba 1499sf lot size 6000sf $1,199,000
-477 S Park Victoria Dr 3bd 2ba 1517sf lot size 6594sf $918,000
-Open House Sat/ Sun 4/14 & 4/15 1pm-4pm,
395 Dixon Rd, Milpitas…..5bd 2 ba 1620sf $899,888
-Coming Soon- Milpitas…..
1601 Yellowstone Ave 4bd 2ba 1737sf Sinnott Elementary $1,298,888
335 Coelho St 3bd 2ba 1100sf lot size 6273sf $899,888
1845 Blue Spruce Ct 3bd 2ba 1215sf lot size 3171sf TBD
309 Norwich Ave 3bd 2ba 1431sf lot size 6973sf TBD
2) Current Interest Rates
-4.5% 30 yr fixed conforming
-4.0% 15 yr fixed conforming
-4.625% 30 yr fixed jumbo conforming
-4.25% 15 yr fixed jumbo conforming
3) San Jose Mercury News Articles
-“House hunters, be wary: 7 seemingly small flaws may point to a money pit”-3/31/18
-Doors that don’ close properly
-Discoloration- (Water is your home’s No1 enemy)
-Bad water pressure
-Uneven stairs
-Windows that don’t open
-Dead trees
-An uneven floor
-“The fixer-upper facts, owners spend time or money on maintenance”-3/30/18
-Certain projects are popular among DIYers- (painting, installing appliances,
deck and porch rails, fences)
-A minority of owners pay for ongoing maintenance
trash/recycling services, landscaping service, snow removal, pool care
-Bigger, pricier homes tied to higher expenditures
maintenance runs about 1% of the value of your home
-“Silent destroyers: Tips to spot termites and prevent infestation”- 4/01/18
How to spot termites- Spring is prime time for termite populations
Termite of flying ant?- many mistake a termite for flying ant…big mistake..
Mud tubes- Subterranean termites, the most destructive termite species build
mud tubes to provide moisture while they travel
Wood damage- termites tend to eat wood from the inside out
Frass- Drywood termites produce wood-colored droppings as they eat
It is a good rule to have your home inspected for termites once every two to
three years
4) Milpitas Unified School District Board Highlights- 3/27/18 meeting
-Board discusses resolution draft supporting school safety (weapons/ dangerous)
-Enrollment expected to grow at elementary level, unlike other districts across
the country

For City of Milpitas Updates- www.ci.milpitas.ca.gov