real estate: The Credit Crisis Simplified
- 04/06/09 10:11 AM
Excellent, simplified explanation of our current credit crisis by Jonathan Jarvis illustrating how the demand for mortgages was driven by investor greed: The Crisis of Credit Visualized from Jonathan Jarvis on Vimeo. Want a more indepth discussion of the source of the crisis? Listen to this interview of Frank Partnoy, a law professor and former Wall Street trader, by Terry Gross of Fresh Air on National Public Radio. Fresh Air with Terry Gross is the best radio program on the air waves, in my opinion. http://www.npr.org/templates/story/story.php?storyId=102325715 … (1 comments)
real estate: South Santa Clara County Real Estate Sales February 9 - 15, 2009
- 02/19/09 12:24 PM
Another very busy week of sales in south Santa Clara County last week. With the new federal stimulus package approved in congress, buyers may be feeling encouraged. Investors should take heart in that the number of property loans they will be allowed to hold will increase from 4 to 10 beginning March 1, 2009. First-time buyers also received good news. The first time buyer credit was increased from $7500 to $8000 and it is to be a true credit and not an interest free loan to be paid back over 15 years. The number of residential sales increased again in the south Santa Clara County towns … (0 comments)
real estate: South Santa Clara County School Locator Websites
- 02/19/09 12:22 PM
When serving real estate buyers, the question of which school the residents of a particular home at a particular address would go to often comes up. Although I feel I know the school boundaries pretty well, I don't like to rely on my own knowledge in case the boundaries have changed, which they occasionally do. I go online to find the answer. The southern portion of Santa Clara County is home to two school districts: Morgan Hill Unified and Gilroy Unified. Morgan Hill's school district covers a large area. From the MHUSD website, "The Morgan Hill Unified School District encompasses nearly 300 square miles … (0 comments)
real estate: Investment Property Case Study 2
- 02/19/09 12:20 PM
As we saw in my previous investment property case study , south Santa Clara County real estate can now be purchased for investment purposes and have a positive cash flow from the income received from rent. Not only will there be a positive cash flow, but there is great potential for gains in equity appreciation. Last month I looked at an example case study on a property in Gilroy and this month I will look at Morgan Hill. The property chosen for this case study is 17230 Torrey Way located near the Morgan Hill City Hall. There is a pool and spa in … (0 comments)
real estate: South Santa Clara County Real Estate 2008 vs. 2007
- 01/25/09 12:21 PM
Let's look at the three south Santa Clara communities of Morgan Hill, San Martin and Gilroy and their respective real estate activity in 2008 as compared to 2007. We'll go from north to south beginning with Morgan Hill: MORGAN HILL REAL ESTATE STATISTICS: New listings in 2008 = 890, down from 2007 = 957, (average annual new listings from 2000 to 2006 = 857) Closed sales in 2008 = 290, down from 2007 = 349, (average annual closed sales from 2000 to 2006 = 482) Average cumulative days on market (CDOM) in 2008 = 123, up from 2007 = 96, (average annual CDOM from 2000 … (0 comments)
real estate: Beautifully Remodeled Home with Panoramic Views
- 01/25/09 12:18 PM
Living at 16595 Rustling Oak Lane in Morgan Hill, CA is a daily pleasure. From the moment you approach the striking custom front door, you know you've come home to a special place. The first thing most visitors notice upon entering the home are the beautiful views of the valley and the mountains beyond. There are views from most windows and there are multiple decks strategically located to take advantage of these views as well.
This home has been lovingly remodeled with discriminating taste and comfort in mind. The gourmet kitchen features a large slab granite island, custom cherry cabinets … (0 comments)
real estate: South County Real Estate Sales Week of January 12 - 18, 2009
- 01/25/09 12:16 PM
The number of residential sales increased again this week in the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy, but 71% of the sales were for real estate priced below $500,000. Last week there were 41 residences that went from active to pending status. Of these, 33 were single family homes and 8 were townhouses/condominiums. This is the largest number of condo sales in one week in our area since I began writing this weekly post. The large number of residential sales last week isn't surprising considering that we currently have the trifecta of historically low mortgage interest rates for loans under … (0 comments)
real estate: South County Realtors Association Wednesday Morning Meeting
- 01/08/09 09:50 AM
The South County Realtors Association welcomed Realtors and affiliates back from a two week break with a robust meeting and a great turnout. Over 25 real estate sales were announced and many of those sales were multiple-offer situations. There were two sales announced that were priced over $2 million. A lot of new real estate listings were also announced as well as changes to existing listings - lots of price reductions. Three Morgan Hill real estate listings were on tour this morning: 408 Scotts Bluff Place ($978,000), 15750 Casino Real ($700,000) and 820 Mercedes Drive ($724,900).
820 Mercedes Drive is a well-priced 6 … (0 comments)
real estate: Investment Property Case Study
- 01/08/09 09:38 AM
It has been quite a few years since a Bay Area residence could be purchased for investment purposes and have a positive cash flow from the income received from rent. But with the large drop in real estate sale prices, it appears that not only will there be great potential for gains in equity appreciation, but that the property will have a positive cash flow. Let's look at an example case study on a real property currently for sale in Gilroy. I chose this property because the Multiple Listing Service states that it is currently rented for $1900/month. This property is located at 9110 … (0 comments)
real estate: 10 Ways to Prepare for Homeownership
- 01/02/09 11:27 AM
1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. 2. Develop your home wish list. Then, prioritize the features on your list. 3. Select where you want to live. Compile a list of three or four neighborhoods you'd like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety. 4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved … (0 comments)
real estate: South Santa Clara County Real Estate Sales Week of December 22 - 28, 2008
- 01/02/09 11:23 AM
Not surprisingly, sales were light during the week of December 22 through 28 in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. Last week there were 16 residences that went from active to pending status - down from 39 sales the previous week. Of these, 13 were single family homes and 3 were townhouses/condominiums. Of these sales, the list price ranges were: Below $200,000 = 1 sale (6% of total) $200,000 - $500,000 = 11 sales (69% of total) $500,000 - $800,000 = 2 sales (13% of total) $800,000 - $1,200,000 = 1 sale (6% of total) $1,200,000 - $2,000,000 = 1 sale (6% … (0 comments)
real estate: South Santa Clara County Real Estate Sales Week of December 15 - 21, 2008
- 01/02/09 11:21 AM
Lower priced listings sold robustly in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. Last week there were 39 residences that went from active to pending status. Of these, 37 were single family homes and 2 were townhouses/condominiums. The number of active listings in our area was reduced by 30 since last week! Many sellers choose to remove their listings from active status during the winter holiday season. Of these sales, the list price ranges were: $200,000 - $500,000 = 28 sales (72% of total) $500,000 - $800,000 = 6 sales (15% of total) $800,000 - $1,200,000 = 4 sales (10% of total) … (0 comments)
real estate: South Santa Clara County Real Estate Sales Week of December 8 - 14, 2008
- 01/02/09 11:16 AM
Sales just keep plugging along in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy. Last week there were 28 residences that went from active to pending status. Of these, 25 were single family homes and 3 were townhouses/condominiums. Of these sales, the list price ranges were: Less than $200,000 = 1 sale (3% of total) $200,000 - $500,000 = 16 sales (57% of total) $500,000 - $800,000 = 8 sales (29% of total) $800,000 - $1,200,000 = 3 sales (11% of total) As of December 14, 2008, there are 668 residential listings active on the market in Morgan Hill, San Martin and Gilroy, and … (0 comments)
real estate: South Santa Clara County Real Estate Sales Week of December 1 - 7, 2008
- 12/11/08 10:02 AM
Sales were robust last week in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy for this time of year. There were 28 residences that went from active to pending status. Of these, 27 were single family homes and 1 was a condominium. Last week marks the first time we've had a sale over $2,000,000 since I started my weekly sales blog post last August. Although sales of homes priced over $2,000,000 used to be fairly common in our area during the peak of the real estate market several years ago, they aren't nearly so common at this time. Of these … (0 comments)
real estate: The Basis of Wealth
- 12/09/08 11:46 AM
I bet you've heard the saying, "Buy low, sell high." Well, this is a "buy low" kind of real estate market we are in and now is the time to take advantage of it. I am working with a few clients looking in the $200,000 to $300,000 range and they are thrilled to have the opportunity to purchase in this "buy low" real estate market. Several years ago, they couldn't have even dreamed of being able to purchase real estate. An interesting quote from President Theodore Roosevelt: "Every person who invests in well-selected real estate in a growing section of … (0 comments)
real estate: Let Me Introduce Myself
- 12/03/08 03:42 PM
Welcome to my Active Rain blog site. I'm so happy that you came to visit! Some of you who are checking in may already know me, but for those of you who don't I'll give you a little bio. I was born in southern Indiana, and no, I didn't grow up on a corn farm. I was a city girl in Evansville (pop. 125,000). At age 18, I left for Vanderbilt University in Nashville, TN to study Civil Engineering. I had to graduate with that major because my dad told me he didn't think I could! (He was a master at reverse psychology!) After graduation … (0 comments)
real estate: South County Real Estate Today
- 06/14/08 06:17 AM
Please see my blogsite at www.SouthCountyRealEstateToday.com. I cover the south Santa Clara County area in California including Morgan Hill, San Jose, San Martin and Gilroy. … (1 comments)
Excellent, simplified explanation of our current credit crisis by Jonathan Jarvis illustrating how the demand for mortgages was driven by investor greed:
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