Milpitas Real Estate Market Update 11-02-2017

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1) Milpitas MLS Market Update
-22 pending sales
-new listings:
-210 Valmy St 3bd 2ba 1176sf lot size 5940sf $850,000
-56 Lonetree Ct 4bd 2 1/2ba 1824sf lot size 5500sf $999,900
-226 Edgewater Dr 3bd 2 1/2ba 2301sf lot size 3960sf $1,268,888
-Coming Soon!
-Manor area, 3bd 2ba 1500sf, corner lot, Spangler Elementary–
-September 2017 Santa Clara County, MLS Single Family Homes
Milpitas- average $1,025,944 median $983,444 days on market 16
Condos $761,154 $755,000 11
2) Current Interest Rates
-30 yr fixed conforming 3.875%
-15 yr fixed conforming 3.50%
-30 yr fixed jumbo 4.375%
-15 yr fixed jumbo 3.625%
Economic Update-
Gross Domestic Product (GNP) grew by a solid 3.0 percent in the third quarter of
2017, according to the first of three readings by the Bureau of Economic Analysis.
This follows the strong showing in second quarter, when economic activity
increased 3.1 percent. Consumer spending, which makes up nearly two-thirds of
economic activity, increased 2.4 percent after increasing 3.3 percent the previous
quarter. GDP is the best way to measure a country’s overall economic health and
includes the total value of finished goods and services produced within a country’s
borders in a specific timeframe.
3) San Jose Mercury News Articles
-“As prices increase, sales are sagging”- 10/28/17
-September house deals were smallest number in three years,
Shrinking home supply, and buyers demand continued to bid up the region’s prices
-“It’s fall, and there is much to do”- 10/29/17
-It’s the season for bulb buying and planting, setting out new shrubs and trees,
moving perennials, fretting over newly seeded lawns and tidying up!
-Look over your shrubs for bits of dead wood to snip out quickly, and pruning
of plants that bloom in spring and early summer should not be done until after
the flowers are over next year.
-Keep an eye on new grass you planted in September and water it regularly.
Try to avoid walking on the tiny seedlings now, and once leaves fall, rake gently.
-“Buyers energized by utility costs”-10/29/17
-Buyers will pay more for energy-efficient homes…
-Many newer homes built after 2007 have LEED certification, and many upgraded
to achieve an Energy Star designation, plus there are local energy-efficiency
-If a home has low utility bills, that increases affordability to a buyer
-New windows and other savings devices can be mentioned on MLS
4) Updates City of Milpitas
-Milpitas Unified School District-
-Russell and Zanker schools recognized for improved Average Daily
Attendance, The principals were recognized for their year over year
record improvement at a recent School Board meeting
-PAL Soccer Coaches honored for their contribution to students-
The School Board honored the PAL Soccer organization for their work
with the students in Milpitas Unified School District. According to the
Superintendent, the coaches provide our students with the opportunity to
participate in team sports after school, during intersession, as well as
during the summer time.
-Dual Immersion Program Update- The two-way dual immersion program
(English/Spanish) that was started in 2016-2017 at Randall Elementary
School, has provided an enthusiam for students to learn Spanish. The
program thus has been deemed successful.

for City of Milpitas……