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Bay Area Connect

Guide To Santa Clara County Real Estate

By Thomas Feng | Agent in Santa Clara, CA
  • 3 reasons cheap mortgages Won't help first-timers. Real Estate News 4/15/14

    Posted Under: Home Buying in Santa Clara, Home Selling in Santa Clara, Financing in Santa Clara  |  April 15, 2014 4:40 PM  |  56 views  |  No comments

    It’s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial market, general market conditions, and interest rates.



    HousingWire – One in Three adult Americans has no emergency savings

    The housing industry will likely be impacted by the results of a new survey from NeighborWorks America due to findings about the finances of Americans, which serve as a stark reminder of affordability challenges. The survey found that almost 70 million working age Americans – about one-third – have no emergency savings. This highlights a primary problem facing potential homebuyers, as one in three homes are deemed unaffordable to the average buyer, and mortgage originations are reportedly at a 14-year low.

    • Only 25 percent of American have enough saved to cover 30 days of living expenses.
    • About one in five have enough savings to cover three months – about the average time of unemployment for many Americans – while 28 percent expect their emergency funds to cover a year.
    • Approximately 29 percent of adult Americans have no emergency savings in place—whether to pay for the repair of a car that’s required to get to work, or fix a major household necessity such as a roof or furnace.
    • Retirement and buying a home are the top savings goals at 28 percent and 13 percent, respectively.
    • Just 5 percent of consumers say that they are currently saving to create a buffer in case of a financial emergency.
    • About 43 percent of blacks and 39 percent of Hispanic adults said that they had no emergency savings. Also, 52 percent of people earning less than $40,000 said that they had no reserve.

    In other news…

    The Atlantic – The Search for Affordable Housing Is Pushing Middle Class to Exurbs

    The median family needs to devote up to nearly 40 percent of its income on mortgage payments for a median home in metros like San Jose (36 percent); San Francisco (39 percent); and Los Angeles (40 percent). The locations of homes that are within reach for the median family vary substantially, which indicates the uneven nature of housing prices across several major U.S. cities and metros.

    MarketWatch – What a mortgage calculator won’t tell you

    Resources like mortgage calculators can help you figure out the price range of homes you may be able to afford and estimate your monthly mortgage payment. However, the math alone won’t always tell you if you’re ready to buy a home, since other big factors are credit standing, job security, family plans, and other financial goals.

    CNBC – 3 reasons cheap mortgages won’t help first-timers

    Mortgage rates hit a record low about a year ago, but they are still pretty cheap, making now a good time to get into the market, according to Anika Khan, Wells Fargo Securities senior economist. However, these cheap mortgages are still out of reach to many first-time home buyers due to tight lending requirements, low inventory, and high prices pushed up by investors.

    Today – Rent a home or buy? Depends where you live

    As the housing market stages an uneven recovery, whether it is cheaper to rent or buy a place depends on where you live. In addition, just because it’s cheaper to buy in some markets doesn’t mean potential homeowners will be able to qualify for a loan—especially if they’re one of the 7 million former homeowners who lost their property to a foreclosure or short sale.

    Eye on Housing – Residential Construction Employment Up 9,100 in March

    According to data from the Bureau of Labor Statistics, there was solid job growth for home builders and remodelers in March. The residential construction industry added 9,100 jobs for the month, bringing total industry employment to 2.2 million.

    San Jose Mercury News – Lack of sellers, preponderance of buyers pushing housing prices

    Real estate experts observe that the U.S. housing market currently has too few people selling homes and at the same time too few buyers can afford the homes that are for sale. In addition, higher mortgage rates and higher prices have made homes costlier for first-time buyers as well as for all-cash investors.

    Wall Street Journal – The Key to a Home Sale?

    Some metros saw a 20 percent increase in turnkey listings over the past year, with these listings being described as “move-in condition.” Turnkey properties are reportedly more popular on the West Coast, and for luxury residences often include furnishings and art.

    Talking Points

    • International home buyers prefer purchasing properties in the United States over other countries, according to the “2013 International Clients Survey” from the CALIFORNIA ASSOCIATION OF REALTORS®. Los Angeles County was the top location in California where international buyers purchased properties (35 percent).
    • International buyers cited the following factors in their decision to purchase in the U.S.: Desirable location and climate (20 percent), to be closer to family and friends (20 percent), investment opportunities (9 percent), changes in work and employment (9 percent), educational opportunities (6 percent), and affordable prices (4 percent).
    • Sixty-nine percent of international buyers paid all cash for their properties, compared to 27 percent of traditional buyers who paid all cash.

    If you have any questions about the current real estate market give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com to discuss your situation and how to get the most out of the current real estate housing market.

    Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

    Copyright 2010-2014 by Thomas Feng, All Rights Reserved. You may reblog or republish.

    * THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

  • SANTA CLARA CA 95050 95051 95054 REAL ESTATE MARKET REPORT, APRIL 2014

    Posted Under: Market Conditions in Santa Clara, Home Buying in Santa Clara, Home Selling in Santa Clara  |  April 14, 2014 11:37 AM  |  80 views  |  No comments

    Thomas Feng with Bay Area Connect presenting the Santa Clara CA 95050 95051 95054 Market Activity in the previous month of March 2014.



    Statistics include: Pricing of all sold and active listings, Property Sales, Inventory, Market Time, and an Overview of sold listings.

    To schedule an appointment to go over all of these statistics overlaid with school data/API Scores call me at408-840-3852 or send me an email Thomas.Feng@gmail.com.

    For a copy of this market report or a market report for another Bay Area city simply fill out this Market Report Form and I will have one sent over to you within 24 hours.


    Photobucket PhotobucketPhotobucket



    Please leave questions and comments below or on our wall at Facebook and I will include it in my future videos.


    February 2014: 59 Sold Listings
    Sold homes from 2 months back. Homes take about 2 months to close and have final sales #’s.

    7 in 1mil+, 5 in 900s, 14 in 800s, 12 in 700s, 4 in 600s, 3 in 500s, 14 in -400s


    Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

    Copyright 2010-2014 by Thomas Feng, All Rights Reserved. You may reblog or republish with links back to this post.

    * THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

  • HOW DO HOME SELLERS HANDLE MULTIPLE OFFER SITUATIONS, ONE COOL THING!

    Posted Under: Home Buying in Santa Clara, Home Selling in Santa Clara, Financing in Santa Clara  |  April 11, 2014 10:00 AM  |  135 views  |  No comments
    If you have ever wondered just how a home seller picks the winning offer in a multiple offer situation it really comes down to who has the highest chance to close in the shortest amount of time. This infographic shows just some of the thought processes a home owner goes through when choosing the best offer.


    If you have any questions about the current real estate market give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com to discuss your situation and how to get the most out of the current real estate housing market.

    Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

    Copyright 2010-2014 by Thomas Feng, All Rights Reserved. You may reblog or republish.* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

  • THE TOP 10 THINGS EVERY RENTER NEEDS TO KNOW. REAL ESTATE NEWS 4/8/14

    Posted Under: Home Buying in Santa Clara, Home Selling in Santa Clara, Financing in Santa Clara  |  April 8, 2014 10:58 AM  |  172 views  |  No comments

    It’s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial market, general market conditions, and interest rates.



    HousingWire – Realtors to FHA: Your mortgage insurance rates drive buyers away

    The Federal Housing Administration’s (FHA) mortgage insurance requirement is facing criticism from real estate professionals who argue that home purchases are becoming increasingly out of reach for many qualified borrowers who rely on FHA financing but are hindered by mortgage insurance rules. Steve Brown, president of the NATIONAL ASSOCIATION OF REALTORS® (NAR), called on the FHA to relax its mortgage insurance rules due to concerns about high annual mortgage insurance premiums and mortgage insurance required for the life of a loan.

    • NAR posits as many as 125,000 to 375,000 prospective buyers were priced out of the market in 2013 by the FHA’s high insurance premiums and mortgage insurance requirement.
    • In 2014, FHA fees make up nearly 25 percent of a monthly mortgage payment.
    • On a $150,000 loan, at 4.5 percent, the mortgage payment is 13 percent higher today than it was in 2008.
    • In 2014, the mortgage insurance premium of 1.35 percent is 80 basis points higher than the rate of 0.55 percent in 2010. The 80 additional basis points pushed an estimated 1.45 million to 1.65 million renters over a sustainable debt-to-income level for the purchase of a home in 2013.
    • Many first-time home buyers, who are priced out of FHA and unable to migrate to private mortgage insurance, are likely under the age of 44. Since 2008, income growth has been slowest among Millennials, ages 33 and younger, and Generation Xers, ages 34-44.
    • Many of the potential home buyers who are priced out of FHA cannot migrate to private mortgage insurance. Combined with the higher funding cost of roughly 25 basis points for a GSE execution, only borrowers with the highest credit could afford to migrate to GSE financing.

    In other news…

    Businessweek – Wanted: Employed 25 to 34 Year Olds to Buy Houses

    According to statistics from the Bureau of Labor, the number of employed people aged 25 to 34 is lower now than it was in the 1980s, which spells trouble for the housing market since this demographic group will struggle to become prime candidates for buying houses. The economic impact of a lack of first-time buyer sales has caused some experts to describe the market as looking a bit soft.

    Wall Street Journal – Home Builders Bidding Up Best Lots, Ignoring Outskirts

    Builders are focusing on higher priced lots that are typically close to growing job and transportation centers. At the moment, these centrally located locations are fetching a historically high premium over more affordable areas, which indicates that builders would rather bid up the best lots than move to the outskirts. Undeveloped raw land has put added pressure on home prices.

    CNBC – When home improvements offer the most bang for your buck

    Remodeling is at its highest level since the spring of 2004, according to the National Association of Home Builders’ Remodeling Market Index. When it comes to upgrades, homeowners can expect the average portion of costs being recouped at 66.1 percent. Entry door improvements and kitchen upgrades offer the most bang for your buck.

    Forbes – Mortgage Experts Did Not Predict Housing Crash, They Lost More Than Non-Mortgage Experts

    A new report reveals that professionals in the mortgage securitization industry were as aggressively invested in the housing market as comparable professionals during the prime “bubble period.” Overall, the housing portfolios of the securitization professionals saw worse returns than those of equity analysts and lawyers, indicating that many did not anticipate the likelihood of a crash.

    LA Times – Report: Vacation home sales jumped in 2013

    Sales of vacation homes increased by nearly 30 percent in 2013. According to the NATIONAL ASSOCIATION OF REALTORS®, second-home purchases made up their biggest share of the housing market since 2006.

    HousingWire – The top 10 things every renter needs to know

    The increase in single-family renting households does not appear to be slowing down anytime soon, as the NATIONAL ASSOCIATION OF REALTORS® reports that in the next 10 years, 5 to 6 million new renter households will be created. Rental vacancy dropped to 4.1 percent in 2013.

    LA Times – Zillow to partner with Beijing firm to market U.S. homes abroad

    Zillow Inc. has announced it will partner with a Beijing firm to market U.S. homes in China through a co-branded website that offers Zillow’s national home listings, data, and more in Chinese.

    Talking Points…

    • National home prices remained mostly flat over the winter, while distressed saturation over the month of March remained stable at 21.8 percent, according to a Clear Capital home data market report.
    • Low-tier home price gains in the last quarter have slowed to just 1.2 percent, which is a big difference from 3.7 percent a year ago.
    • The report states that “The key to overall market progress and stability in 2014 will lie in the transition from investor to traditional home buyer demand […] Should prices remain stable, home buyer confidence will build, supporting a balanced transition.”

    If you have any questions about the current real estate market give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com to discuss your situation and how to get the most out of the current real estate housing market.

    Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

    Copyright 2010-2014 by Thomas Feng, All Rights Reserved. You may reblog or republish.

    * THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

  • SUNNYVALE CA 94085 94086 94087 94089 REAL ESTATE MARKET REPORT, APRIL 2014

    Posted Under: Market Conditions in Sunnyvale, Home Buying in Sunnyvale, Home Selling in Sunnyvale  |  April 7, 2014 12:23 PM  |  213 views  |  2 comments

    Thomas Feng with Bay Area Connect presenting the Sunnyvale CA 94085 94086 94087 94089 Market Activity in the previous month of March 2014.



    Statistics include: Pricing of all sold and active listings, Property Sales, Inventory, Market Time, and an Overview of sold listings.

    To schedule an appointment to go over all of these statistics overlaid with school data/API Scores call me at408-840-3852 or send me an email Thomas.Feng@gmail.com.

    For a copy of this market report or a market report for another Bay Area city simply fill out this Market Report Form and I will have one sent over to you within 24 hours.


    Photobucket PhotobucketPhotobucket



    Please leave questions and comments below or on our wall at Facebook and I will include it in my future videos.


    February 2014: 65 Sold Listings
    Sold homes from 2 months back. Homes take about 2 months to close and have final sales #’s.

    25 in 1mil+, 4 in 900s, 8 in 800s, 8 in 700s, 8 in 600s, 8 in 500s, 4 in -400s


    Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

    Copyright 2010-2014 by Thomas Feng, All Rights Reserved. You may reblog or republish with links back to this post.

    * THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

  • CALIFORNIA SECOND LEAST AFFORDABLE STATE FOR RENTERS, STUDY SAYS. REAL ESTATE NEWS 4/1/14

    Posted Under: Home Buying in Santa Clara, Home Selling in Santa Clara, Financing in Santa Clara  |  April 2, 2014 3:35 PM  |  323 views  |  No comments

    It’s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial market, general market conditions, and interest rates.



    LA Times – Wealthy Chinese home buyers boost suburban L.A. housing markets

    The housing markets of suburban Los Angeles are being transformed by affluent Chinese home buyers who have the funds to buy American real estate due to China’s economic high tide. The influx of foreign buyers is reportedly driving prices past boom-era peaks, particularly in the San Gabriel Valley. Mel Wong, president of the West San Gabriel Valley Assn. of REALTORS®, commented, “People are getting money out of mainland China and sticking it here.”

    • Chinese buyers bought 12 percent of all U.S. homes purchased by foreign citizens last year, up from 5 percent in 2007.
    • More than half of home purchases by Chinese buyers were in California, and more than two-thirds of them paid cash.
    • There is a growing subset of property brokers and mortgage lenders who cater to the distinct needs of these buyers, including design details in new subdivisions. Many Chinese Americans want homes large enough to comfortably accommodate relatives from overseas.
    • According to the Hurun Report, more than 60 percent of China’s wealthy have left or plan to leave the country, at least part time, and their top destination is the United States.
    • Prices are experiencing upward pressure. For example, heavy demand pushed the median home sales price past $1.32 million last quarter in Arcadia’s 91007 ZIP Code, which is 30.5 percent above its peak in 2007, during the housing bubble.
    • Hubs of Chinese investment are all seeing prices exceed their peeks, such as Walnut, Temple City, San Marino and parts of San Gabriel and East San Gabriel. For example, in the 91006 ZIP Code, prices are up 23.7 percent.

    In other news…

    CNBC – Houses are about to get really, really smart

    Improvements in smart technology have allowed homeowners to control their utilities, their temperature, even their security from hand-held devices outside the home, and experts say that in the next five years, home technology could learn to sense a person’s patterns so everything is automated and operating at maximum efficiency.

    LA Times – California second least affordable state for renters, study says

    The National Low Income Housing Coalition released a report that found California renters must earn more than triple the minimum wage to afford a two-bedroom apartment. The report states that an estimated 61 percent of California renters cannot afford a two-bedroom. In the Bay Area, a worker needs to earn $37.62 an hour to comfortably afford a two-bedroom apartment.

    DSNews.com – DeMarco Steps Down as Senior Deputy Director of the FHFA

    The former acting director of the Federal Housing Finance Agency, Edward DeMarco, announced that he would be parting ways with the agency at the end of April. He is currently serving as senior deputy director.

    Atlantic Cities – Home prices fall in January but continue double-digit yearly gains

    The Standard & Poor’s/Case-Shiller 20-city home price index revealed that prices declined 0.1 percent in January, which is the third straight month of decline. However, there were healthy double-digit gains year over year, with a 13.2 percent increase from January 2013.

    Wall Street Journal – Number of the Week: Only Best Credit Scores Getting Mortgages

    Getting a loan to buy a house is still difficult for average Americans if they don’t have a top credit score, according to Ellie Mae’s latest mortgage origination report. The average FICO score for a conventional mortgage was 755.

    Forbes – 6 Seller Secrets for This Spring’s Real Estate Market

    Sixty percent of all homes in 2014 will be bought and sold from May to August, according to Trulia. Since mortgage rates are still at historic lows, buyers are poised to buy and bidding wars aren’t expected to return like they were in the summer of 2013.

    HousingWire – GSE reform unlikely before November elections?

    U.S. Rep. Shelley Capito (R-WV), who heads the financial institutions subcommittee of the House Financial Services Committee, told attendees at the American Bankers Association conference that she doesn’t believe GSE reform will pass before November. Republicans could take back control of the Senate after the election.

    Talking Points…

    • According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), pending home sales posted stronger than average gains in February for the second straight month. However, sales remained below the level of a year ago, despite slight improvements in the statewide housing demand.
    • To be precise, pending home sales jumped 14.2 percent in February. The Pending Home Sales Index (PHSI) increased from 84.8 in January to 96.8 in February, based on signed contracts. Pending sales were down 12 percent from the 110.1 index recorded in February 2013.
    • Equity sales have stabilized over the past several months and should continue to hover around 85 percent, with February marking the eighth straight month that equity sales have been more than 80 percent of total sales. Equity sales made up 66.7 percent of sales in February 2013.

    If you have any questions about the current real estate market give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com to discuss your situation and how to get the most out of the current real estate housing market.

    Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

    Copyright 2010-2014 by Thomas Feng, All Rights Reserved. You may reblog or republish.

    * THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

  • WHAT DO YOU WANT IN A NEIGHBORHOOD, ONE COOL THING!

    Posted Under: General Area in Santa Clara, Home Buying in Santa Clara, In My Neighborhood in Santa Clara  |  March 20, 2014 3:12 PM  |  354 views  |  1 comment
    This infographic shows several things that are important to home buyers when selecting their neighborhood.


    If you have any questions about the current real estate market give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com to discuss your situation and how to get the most out of the current real estate housing market.

    Because of the many legal and tax situations that can arise through the sale and purchase of real estateALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

    Copyright 2010-2014 by Thomas Feng, All Rights Reserved. You may reblog or republish.

    * THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

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