Milpitas Real Estate Market Update 04-26-2018

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1) Milpitas MLS Update-
-24 pending sales
-new listings:
-1819 Pinehurst Ct 4bd 2 1/2 ba 3025sf lot size 7720sf $1,788,000
-920 Smith Lane 3bd 3 1/2ba 2037sf lot size 1447sf $1,249,000
-202 Orion Ct 4bd 3ba 2191sf lot size 2191sf $1,199,000
-1289 Elkwood Dr 3bd 2 1/2ba 1422sf lot size 3896sf $1,068,000
-1477 Yosemite Dr 4bd 2ba 1528sf lot size 7228sf $999,888
-1557 Jupiter Wy 4bd 2ba 2003sf lot size 8325sf $997,700
-349 Manzanita Ct 3bd 2ba 1215sf lot size 3041sf $849,950
-status update on 395 Dixon Rd, Milpitas….$899,888
-Coming Soon-Master Brokers-Milpitas Listings
-335 Coelho St 3bd 2ba 1100sf lot size 6273sf $899,888
-1601 Yellowstone Ave 4bd 2ba 1737sf lot size 5608sf $1,298,888
-309 Norwich Ave 3bd 2ba 1431sf lot size 6973sf $1,098,888
-690 Lexington Ave 3bd 2ba 1100sf lot size 6000 $899,888
-1117 Nicklaus Ave 4bd 2 1/2ba 2351sf lot size 7164sf – price TBD
-1845 Blue Spruce Ct 3bd 2ba 1215sf lot size 3171sf- price TBD
2) Current Interest Rates-
Rates have risen in past week…..
-4.75% 30 yr fixed conforming
-4.25% 15 yr fixed conforming
-4.75% 30 yr fixed jumbo conforming
-4.25% 15 yr fixed jumbo conforming
3) San Jose Mercury News Articles
-“Renting a home has become Bay Area’s new norm”-4/19/18
A shortage of properties and high prices have locked many people out of
ownership. Young families who can’t afford to buy their first home are renting at a
point in their life when historically they might have bought.
-“Should empty-nesters stay or should they go?”- 4/20/18
-Factor lifestyle plans into your decision-making
-Seek outside advice to gain perspective
-Include financial factors in your decision-making
-Don’t delay charting your housing plans
-“Bay Area Sheds Jobs in March”-4/21/18
-Unsettling figure- 2,300- mirrored by total lost in state (7,200),
though unemployment rate remains the same at record low 4.3 percent
4) City of Milpitas Update-