Milpitas Real Estate Market Update 12-14-2017

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VIDEO OUTLINE
1) Milpitas MLS Market Update
-15 pending sales
-new listings:
-296 Summerfield Dr 3bd 2 1/2ba 1833sf lot size 4294sf $998,888
-224 Krismer St 3bd 2ba 1516sf lot size 6920sf $899,900
-coming soon!
-135 Casper St 3bd 2ba w/large family room 1400sf lot size 7500sf
corner lot! Original homeowner!!! $998,888
2) Current Interest Rates
-rates have dipped……..
-3.875% 30 yr fixed conforming
-3.375% 15 yr fixed conforming
-4.125% 30 yr fixed jumbo
-3.375% 15 yr fixed jumbo
-Federal Reserve Board scheduled to raise interest rates by .25% before end of year
3) San Jose Mercury News Articles
“Rising Home Prices”- 12/05/17
Home prices in one California city have risen faster than anywhere in the
United States…..that is Stockton….at 92% increase in 5 years!!!
“Brutal Market Getting Tighter”- 12/07/17
October 2017 was the slowest October for sales in four years, as supply
shrinks and prices rise……In Santa Clara County, the housing supply is about
half of what it was a year ago, the median price reached a new peak of $1,125,000.
Up a whopping 19.7 percent from October 2016.
“Should you install a home security system?”- 12/06/17
How well do security systems deter crime?- it plays a role in scaring burglars away
from a home than it does in prompting a quick response from law enforcement
How do you choose the right security system?-look for an alarm system that suits
your needs and fits your budget.
How much will a home security system cost?-$739/average
Watch for red flags-check for state licensed installers only, read the fine print of the
agreement, false alarms happen and that could trigger additional fees
“Bid to expand Prop 13 rights”- 11/11/17
ballot initiative
4) City of Milpitas Updates
-Last City Council meeting in 2017….will be Tuesday 12/19/17 at 7:00pm-
Milpitas City Hall

visit www.ci.milpitas.ca.gov for updates