Are You Pre Approved For Your Purchase Loan? Avoid These Mistakes.

6 things home buyers should avoid doing once they are preapproved for a mortgage
Source: Inman News

In order to keep your loan closing as smooth and hassle-free as possible, there are some simple steps to follow so there are no surprises while waiting for final approval. It’s important to remember that obtaining a home loan is a very interactive process, so avoid common pitfalls, like changing bank accounts or applying for new credit.

Read the full story

http://www.inman.com/next/the-dos-and-donts-of-the-home-loan-closing-process/

July Real Estate Market Update for the Bay Area

MLSListings Real Estate & Housing Update: July 2014

(Monterey, San Benito, San Mateo, Santa Clara, and Santa Cruz Counties)

Silicon Valley Sales, Median Price, Is It 2007? Deja Vu?

The year 2007 was pivotal for northern California real estate. It was the towering high before the slump. When reviewing the long-term trend for the number of single family sales and median price, our analysts noticed that the counties reported (Monterey, San Benito, San Mateo, Santa Clara and Santa Cruz) have virtually reached the same levels as 2007. In fact, every county reported has surpassed 2007 levels for numbers of single family sales. Median Price for all counties combined including condos and townhomes has almost reached the 2007 high.

The story is different when we compared July 2014 to July 2013. Sales in July 2014 remained flat in San Mateo and San Benito Counties, while they dropped 6% in Monterey County, 4% in Santa Cruz County, and were down 2% in Santa Clara County.

For the same time period single family median price levels remained positive in all reported counties. San Mateo County was up24%, Santa Cruz County increased 19%, followed by gains in Monterey County of 7%, San Benito County of 5%, and Santa Clara County grew 3% from one year ago.

For the charts showing all the statistics please click on the link below to see what the market is doing in your area.

For information visit www.MLSListings.com and click on the Media Center.


San Jose Willow Glen(95125) Market Trends Update

San Jose, 95125 Summary

The median sales price for homes in ZIP code 95125 for Sep 13 to Dec 13 was $785,000. This represents a decline of 2.5%, or $20,000, compared to the prior quarter and an increase of 12.1% compared to the prior year. Sales prices have appreciated 20.8% over the last 5 years in 95125, San Jose. The median sales price of $785,000 for 95125 is 29.54% higher than the median sales price for San Jose CA. Average listing price for homes on Trulia in ZIP code 95125 was $981,932 for the week ending Dec 04, which represents a decline of 1.2%, or $11,537 compared to the prior week and an increase of 4.2%, or $39,879, compared to the week ending Nov 13. Average price per square foot for homes in 95125 was $508 in the most recent quarter, which is 21.82% higher than the average price per square foot for homes in San Jose.