Silicon Valley Real Estate Blog

Information and updates about the Silicon Valley Real Estate Market, lifestyles, schools  and interesting facts about the communities.  

Dec. 3, 2019

Silver Creek Valley Homes For Sale | It’s ‘National Roof Over Your Head’ Day!

There's is an abundance of open space, hiking trails, great schools and charm. Locals know that Silver Creek is a great place to raise a family.

While some people may say that the area is energized by new growth and rapid changes, Silver Creek value comes from its welcoming warm atmosphere, where neighbors participate enjoying various spectacular amenities enjoying a great convenient location.

All great neighborhoods have this in common. Pride in ownership is obvious when the residents, whether renters or owners, maintain their homes and care about their neighborhood. Neighbors participate to connect and create local groups that bring the residents together for the betterment of the area.

Connect with the past, present and future in Silver Creek Valley, one of the most charming neighborhood you'll find in the San Jose area.

Every home buyer has a wish when looking for a home, while not all of them are granted, the ‘feel good magic’ happens when they start selling homes around neighborhoods of this beautiful valley.

Is the people what makes this place a little different from others, It's a great place to live.

Neighbors welcome you with open arms and share indiscriminately the beauty and charm that Silver Creek has to offer.

Today I would like to point out specifically about It’s ‘National Roof Over Your Head’ Day!

 

Did you know that each year in the United States, we celebrate “National Roof Over Your Head Day” on December 3rd?

As noted on the National Calendar, it was “created as a day to be thankful for what you have, starting with the roof over your head. There are many things that we have that we take for granted and do not stop to appreciate how fortunate we are for having them.”

From bungalows to cottages, and farmhouses to treehouses, today we show our appreciation and gratitude for the places we call home. Owning the roof that shelters us is something many renters still aspire to, knowing there are so many financial and non-financial benefits to homeownership.

According to the 2019 State of the Nation’s Housing from the Joint Center for Housing Studies of Harvard University,

“Cost-burdened renters now outnumber cost-burdened homeowners by more than 3.0 million. In addition, renters make up 10.8 million of the 18.2 million severely burdened households that pay more than half their incomes for housing.”

Homeownership drives many benefits, including providing families with a place to feel secure. It also helps promote confidence that they are investing proactively in themselves and their communities. That is why there are 77.7 million owner-occupied housing units in the United States.

Many, however, fear it is too expensive to own a home. In reality, however, it’s actually more expensive to rent. Here’s the breakdown as a percentage of income necessary for both – affording median rent and owning a home:

Bottom Line

Today we pause to appreciate the places we call home, and all of the other reasons we have to be truly thankful. For those who don’t own yet and would like to, it’s a wonderful time to start identifying the steps to take toward homeownership. Let’s connect today to begin creating your plan.

 

Source.. KCM Fernando Blog

 

“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.   

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Silver Creek
Nov. 26, 2019

Almaden Valley Homes For Sale | Buyers Are Looking Now. Are You Ready to List Your Home?

We've streamlined and perfected the process of finding dream homes for our clients in Almaden Valley  

We know you want to spend less time looking at perhaps hundreds of homes for sale, looking all over. . .just to find that special place, allow our knowledge, experience and passion for Almaden Valley to guide you through the process of finding the right neighborhood that will fit your lifestyle. We strive in making it easier and have a direct path to help you find your dream home.  

We are also your Trusted Resource for Almaden Valley Real Estate, offering complete solutions for buyers, from financing assistance to creating innovative marketing strategies for home sellers.    

Check out the Almaden Valley Real Estate Market Report here!  

We are your neighborhood specialists and we are ready to help you..    

Today I would like to speak to you about Buyers Are Looking Now. Are You Ready to List Your Home?

 

Inventory on the market today is low, especially among existing homes in the entry and middle-level tiers of the market. It is hovering well below the 6-month supply typically found in a more normal market, as shown in the graph below:

With inventory being one of the biggest housing market challenges today, finding a starter home right now isn’t easy. According to the Q3 Housing Trends Report from the National Association of Homebuilders (NAHB), 68% of those searching for a home think their search will get harder or stay about the same over the next 12 months.

The same study reveals,

“In Qtr3’19, buyers actively engaged in the process of buying a home are more likely to have spent at least 3 months searching (58%) than a year earlier (55%).”

 This is certainly no surprise, given the current inventory status. So, what’s the good news? The NAHB continues to say,

“If still unable to find a home in the next few months, the next step for most long-time searchers is to continue looking for the ‘right’ home in the same preferred location (52%). The next step for 35% is to expand their search area and for 16% is to accept a smaller/older home. Only 15% will give up looking.”

 

What does this mean for homeowners?

 If you’re thinking of selling your home, buyer demand is high – and those looking in your neighborhood aren’t planning on giving up anytime soon. The majority of potential buyers who are still searching for their dream home are eager, willing, and ready to buy, so maybe it’s time to list your house and make your move.

 

Bottom Line

With buyer demand as high as it is today, and inventory in the entry and middle-tier markets remaining low, it’s never been a better time to move up. Let’s get together to determine if now is your time to sell.

 

Source.. KCM Fernando Blog

 

“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.   

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Almaden Valley
Nov. 19, 2019

Silver Creek Valley Homes For Sale | Expert Advice: 3 Benefits to Owning a Home

There's is an abundance of open space, hiking trails, great schools and charm. Locals know that Silver Creek is a great place to raise a family.

While some people may say that the area is energized by new growth and rapid changes, Silver Creek value comes from its welcoming warm atmosphere, where neighbors participate enjoying various spectacular amenities enjoying a great convenient location.

All great neighborhoods have this in common. Pride in ownership is obvious when the residents, whether renters or owners, maintain their homes and care about their neighborhood. Neighbors participate to connect and create local groups that bring the residents together for the betterment of the area.

Connect with the past, present and future in Silver Creek Valley, one of the most charming neighborhood you'll find in the San Jose area.

Every home buyer has a wish when looking for a home, while not all of them are granted, the ‘feel good magic’ happens when they start selling homes around neighborhoods of this beautiful valley.

Is the people what makes this place a little different from others, It's a great place to live.

Neighbors welcome you with open arms and share indiscriminately the beauty and charm that Silver Creek has to offer.

Today I would like to point out specifically about Expert Advice: 3 Benefits to Owning a Home

 

Success is something often worth repeating, and Brent Sutherland, a Certified Financial Planner and Real Estate Investor, has certainly made his way in a momentum-driving direction. Here are 3 tips he shares from a recent piece in Business Insider on the benefits of owning real estate:

 

1. Real estate diversifies your income

 

“While it is certainly important to be properly diversified with your investments, it is even more important to be diversified with your income. This is because the largest financial risk for most of you is the loss of your primary source of income, which is typically in the form of a day job.”

The article highlights how having multiple sources of income, such as those derived from real estate investments, can eventually lead to relying less and less on a day job. Sound dreamy? It can be. When done well, real estate investments may eventually open up your time and the financial freedom to explore other things, like travel and other aspirations you may have for the future, particularly in the golden years of retirement.

 

2. Real estate produces near-immediate results

 

“You can achieve and feel the results almost immediately. Property improvements are visible and tangible. You can cash, spend, and invest rent payments. Today! Not 30 years in the future.”

Currently, home prices are appreciating in all price ranges, and just last week CoreLogic announced their 12-month home value projection at 5.6%, an increase from 4.5% noted earlier this summer. With that in mind, real estate today is definitely driving immediate results!

 

3. Passive income can help you become financially independent sooner

 

“If you need $40,000 a year to live, you could alternatively invest in assets that generate an 8% cash-on-cash return. This is a very reasonable assumption. And it means you would only need to save a total of $500,000 (instead of $1 million). Yet, your investments would still meet your annual household living needs.

While returns, taxes, and inflation can, of course, affect your timeline, cash-flowing real-estate is a clear asset.”

Homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you’re contributing to your net worth by increasing the equity in your home, bringing you one step closer to true financial independence.

 

Bottom Line

If you want to increase your savings and overall net worth, real estate is a great way to go. To learn how you can make it happen, let’s get together to discuss the process.

 

Who is Brent Sutherland?

Sutherland was 35 when he bought his first single home to rent out for income, less than five years later, he owns eight additional properties and part of a commercial real estate project.

 

Source.. KCM Fernando Blog

 

“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.   

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

 

Posted in Silver Creek
Nov. 12, 2019

Almaden Valley Homes For Sale | Homeownership Rate Remains on the Rise

We've streamlined and perfected the process of finding dream homes for our clients in Almaden Valley  

We know you want to spend less time looking at perhaps hundreds of homes for sale, looking all over. . .just to find that special place, allow our knowledge, experience and passion for Almaden Valley to guide you through the process of finding the right neighborhood that will fit your lifestyle. We strive in making it easier and have a direct path to help you find your dream home.  

We are also your Trusted Resource for Almaden Valley Real Estate, offering complete solutions for buyers, from financing assistance to creating innovative marketing strategies for home sellers.    

Check out the Almaden Valley Real Estate Market Report here!  

We are your neighborhood specialists and we are ready to help you..    

Today I would like to speak to you about Homeownership Rate Remains on the Rise

 

In the third quarter of 2019, the U.S. homeownership rate rose again, signaling another strong indicator of the current housing market.

The U.S. Census Bureau announced,

“The homeownership rate of 64.8 percent was not statistically different from the rate in the third quarter 2018 (64.4 percent), but was 0.7 percentage points higher than the rate in the second quarter 2019 (64.1 percent).”

Today there is still a lack of inventory, particularly at the entry and middle-level segments of the market, but that is not stopping buyers from making every effort to pursue homeownership. The many financial and non-financial benefits continue to drive the American Dream and will likely do so for generations to come.

 

Bottom Line

If you’re thinking of buying a home, let’s get together to make your dream a reality.

 

Source.. KCM Fernando Blog

 

There are many opportunities for growth in the current real estate market. To find out what’s right for your family, let’s get together to help you understand your options and guide you toward the best decision

All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.  

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Almaden Valley
Nov. 5, 2019

Almaden Valley Homes For Sale | The #1 Reason to List Your House in the Winter

We've streamlined and perfected the process of finding dream homes for our clients in Almaden Valley  

We know you want to spend less time looking at perhaps hundreds of homes for sale, looking all over. . .just to find that special place, allow our knowledge, experience and passion for Almaden Valley to guide you through the process of finding the right neighborhood that will fit your lifestyle. We strive in making it easier and have a direct path to help you find your dream home.  

We are also your Trusted Resource for Almaden Valley Real Estate, offering complete solutions for buyers, from financing assistance to creating innovative marketing strategies for home sellers.    

Check out the Almaden Valley Real Estate Market Report here!  

We are your neighborhood specialists and we are ready to help you..    

Today I would like to speak to you about Depending on the Price, You’re Going to Need Advice

 

Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.

 

So, what’s the #1 reason to list your house in the winter? Less competition.

Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.

As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January). 

Temperatures aren’t the only thing that heats up in the spring – so do listings!

In 2018, listings increased from December to May. Don’t wait for these listings and the competition that comes with them to come to the market before you decide to list your house.

 

Added Bonus: Serious Buyers Are Out in the Winter

At this time of year, purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.

 

 Bottom Line

If you’ve been debating whether or not to sell your house and are curious about market conditions in your area, let’s get together to determine the best time to list your house.

 

Source.. KCM Bill & Fran Jenkins Blog

 

There are many opportunities for growth in the current real estate market. To find out what’s right for your family, let’s get together to help you understand your options and guide you toward the best decision

All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.  

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Almaden Valley
Oct. 29, 2019

Silver Creek Valley Homes For Sale | Thinking of Selling Your Home? The Waiting Is The Hardest Part.

There's is an abundance of open space, hiking trails, great schools and charm. Locals know that Silver Creek is a great place to raise a family.

While some people may say that the area is energized by new growth and rapid changes, Silver Creek value comes from its welcoming warm atmosphere, where neighbors participate enjoying various spectacular amenities enjoying a great convenient location.

All great neighborhoods have this in common. Pride in ownership is obvious when the residents, whether renters or owners, maintain their homes and care about their neighborhood. Neighbors participate to connect and create local groups that bring the residents together for the betterment of the area.

Connect with the past, present and future in Silver Creek Valley, one of the most charming neighborhood you'll find in the San Jose area.

Every home buyer has a wish when looking for a home, while not all of them are granted, the ‘feel good magic’ happens when they start selling homes around neighborhoods of this beautiful valley.

Is the people what makes this place a little different from others, It's a great place to live.

Neighbors welcome you with open arms and share indiscriminately the beauty and charm that Silver Creek has to offer.

Today I would like to point out specifically about Thinking of Selling Your Home? The Waiting Is The Hardest Part.

 

Tom Petty famously penned the words, “the waiting is the hardest part” in his early 80’s hit song The Waiting, and his thought process can surprisingly also be applied to individuals considering selling their homes today. Traditional thinking would suggest it may be best to wait until the spring to sell when there is a flood of buyers in the market, but right now may in fact be an even better time to list your home.

We can see the overall economy is good: wages are rising, there are near record-low unemployment rates, and mortgage interest rates are still very low too. Over the past 10+ years the housing market has stabilized, so what (if anything) is the biggest challenge in the housing market today?

 

The answer is simple: it’s inventory.

 

According to the Existing Home Sales Report by the National Association of Realtors,

 

“Total housing inventory at the end of September sat at 1.83 million, approximately equal to the amount of existing-homes available for sale in August, but a 2.7% decrease from 1.88 million one year ago. Unsold inventory is at a 4.1-month supply at the current sales pace, up from 4.0 months in August and down from the 4.4-month figure recorded in September 2018.”

 

What does this mean?

While homes are coming to the market, they aren’t coming fast enough! Right now, across the country there is less than 6 months of overall inventory of homes for sale, putting us in a seller’s market. The challenge is that there are not enough homes for sale to increase the supply needed for the number of people who want to buy, especially in the starter and middle-level markets.

To be in a balanced market (meaning we have enough inventory for the number of buyers in the market), we need to have 6 months of inventory available. Today we are nowhere near that number, and as a matter of fact, the last time we reached that height was August 2012 (as shown in the graph below):

When we look at the inventory challenge today, we can see that now is a great time to sell your house. Truthfully, waiting may end up being the hardest part in the long run. This landscape is a great place for sellers who own homes in the starter and middle-level markets to take the opportunity to sell in a sellers’ market, before inventory catches up with demand. Serious buyers are actively in the market and ready to make a move at this time of year. When inventory is limited at the lower end, like it is today, selling before more homes are listed could mean a significant seller’s advantage to those who are ready to move up. The upper level of the market has much more inventory available to move into, so it’s a win across the board.

 

Bottom Line

If you’re considering selling your home, don’t wait – now is the time to make your move! Take advantage of the high housing demand and the low inventory of homes for sale at the lower end of the market and use your purchasing power while mortgage rates are low to go after the move-up home of your dreams. Let’s get together to decide if now is the right time for you.

 

Source.. KCM Bill & Fran Jenkins Blog

 

“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.   

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Silver Creek
Oct. 22, 2019

Almaden Valley Homes For Sale | Depending on the Price, You’re Going to Need Advice

We've streamlined and perfected the process of finding dream homes for our clients in Almaden Valley  

We know you want to spend less time looking at perhaps hundreds of homes for sale, looking all over. . .just to find that special place, allow our knowledge, experience and passion for Almaden Valley to guide you through the process of finding the right neighborhood that will fit your lifestyle. We strive in making it easier and have a direct path to help you find your dream home.  

We are also your Trusted Resource for Almaden Valley Real Estate, offering complete solutions for buyers, from financing assistance to creating innovative marketing strategies for home sellers.    

Check out the Almaden Valley Real Estate Market Report here!  

We are your neighborhood specialists and we are ready to help you..    

Today I would like to speak to you about Depending on the Price, You’re Going to Need Advice

 

To understand today’s complex real estate market, it is critical to have a local, trusted advisor on your side – for more reasons than you may think.

 

In real estate today, there are essentially three different price points in the market: the starter-home market, the middle-home market, and the premium or luxury market. Each one is unique, and depending on the city, the price point in these categories will vary. For example, a starter or lower-end home in San Francisco, California is much more expensive than almost any other part of the country. Let’s explore what you need to know about each of these tiers.

 

Starter-Home Market: This market varies by price, and these homes are typically purchased by first-time home buyers or investors looking to flip them for a profit. Across the country, homes in this space currently have less than 6 months of inventory for sale. That means there aren’t enough homes on the lower end of the market for the number of people who want to buy them. A low supply like this generally increases competition, drives bidding wars, and sets up an environment where homes sell above the listing price. According to data from the National Association of Realtors (NAR) on realtor.com,

 

“The desire for affordability continues to push down the inventory for homes listed for less than $200,000.00.”

 

Middle-Home Market: This segment is often thought of as the move-up market. Typically, the buyer in this market is moving up to a larger, more custom home with more features, all coming at a higher price. Across the country, this market is looking more balanced than the lower end of the market, meaning it has closer to a 6-month supply of inventory for sale. This market is more neutral, but leaning towards a seller’s market.

 

Premium & Luxury Home Market: This is the top end of the market with larger homes that have even more custom features and upgrades. Nationwide, this market is growing in the number of homes for sale. In the same realtor.com article, we can see that year-over-year inventory of homes in this tier has grown by 4.7%. Today, there are more homes available in the premium and luxury space, leading to more of a buyer’s market at this end.

 

Bottom Line

Depending on the segment of the market and the price point you’re looking at, you’re going to need the advice of a true local market expert. Let’s get together to help you navigate the home-buying or selling process in your market.

 

Source.. KCM Bill & Fran Jenkins Blog

 

There are many opportunities for growth in the current real estate market. To find out what’s right for your family, let’s get together to help you understand your options and guide you toward the best decision

All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.  

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Almaden Valley
Oct. 15, 2019

Silver Creek Valley Homes For Sale | The Main Reason to Use a Real Estate Professional when Selling Your House

There's is an abundance of open space, hiking trails, great schools and charm. Locals know that Silver Creek is a great place to raise a family.

While some people may say that the area is energized by new growth and rapid changes, Silver Creek value comes from its welcoming warm atmosphere, where neighbors participate enjoying various spectacular amenities enjoying a great convenient location.

All great neighborhoods have this in common. Pride in ownership is obvious when the residents, whether renters or owners, maintain their homes and care about their neighborhood. Neighbors participate to connect and create local groups that bring the residents together for the betterment of the area.

Connect with the past, present and future in Silver Creek Valley, one of the most charming neighborhood you'll find in the San Jose area.

Every home buyer has a wish when looking for a home, while not all of them are granted, the ‘feel good magic’ happens when they start selling homes around neighborhoods of this beautiful valley.

Is the people what makes this place a little different from others, It's a great place to live.

Neighbors welcome you with open arms and share indiscriminately the beauty and charm that Silver Creek has to offer.

Today I would like to point out specifically about The Main Reason to Use a Real Estate Professional when Selling Your House

 

Every homeowner hopes to accomplish five goals when selling their home:

 

1.- Sell it for the best price

2.- Sell it within a predetermined time

3.- Sell it with the least amount of hassles

4.- Close on the sale the same day they move into their new home

 

The fifth reason is the most obvious and the most important:

 

They want to make sure it sells.

In order to dramatically increase the chances that the house sells, a homeowner should list with a real estate professional in their market. Why? Because agents have access to the vast majority of the available buyers!!

According to the National Association of Realtors’ (NAR) recently released 2016 Home Buyer and Seller Generational Trends Report, 87% of all buyers purchased their home through a real estate agent or broker. And more that 8 out of 10 buyers in every age group used an agent (see chart below).

Bottom Line

If you want your home sold, the best way is to go where the buyers are. The NAR study revealed that the vast majority of purchasers will use an agent when they buy. Let’s get together to discuss the best plan for getting your house sold!

 

Source.. KCM Bill & Fran Jenkins Blog

 

“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.   

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

 

Posted in Silver Creek
Oct. 8, 2019

Almaden Valley Homes For Sale | What FICO® Score Do You Need to Qualify for a Mortgage?

We've streamlined and perfected the process of finding dream homes for our clients in Almaden Valley  

We know you want to spend less time looking at perhaps hundreds of homes for sale, looking all over. . .just to find that special place, allow our knowledge, experience and passion for Almaden Valley to guide you through the process of finding the right neighborhood that will fit your lifestyle. We strive in making it easier and have a direct path to help you find your dream home.  

We are also your Trusted Resource for Almaden Valley Real Estate, offering complete solutions for buyers, from financing assistance to creating innovative marketing strategies for home sellers.    

Check out the Almaden Valley Real Estate Market Report here!  

We are your neighborhood specialists and we are ready to help you..    

Today I would like to speak to you about What FICO® Score Do You Need to Qualify for a Mortgage?

 

It’s common knowledge that your FICO® score plays an important role in the homebuying process. However, many buyers have misconceptions regarding what exactly is required to get the loans they need.

While a recent announcement from CNBC shares that the average national FICO® score has reached an all-time high of 706, the good news for potential buyers is that you don’t need a score that high to qualify for a mortgage. Let’s unpack the credit score myth so you can to become a homeowner sooner than you may think.

With today’s low interest rates, many believe now is a great time to buy – and rightfully so! Fannie Mae recently noted that 58% of Americans surveyed say it is a good time to buy. Similarly, the Q3 2019 HOME Survey by the National Association of Realtors said 63% of people believe now is a good time to buy a home. Unfortunately, fear and misinformation often hold qualified and motivated buyers back from taking the leap into homeownership.

According to the same CNBC article,

“For the first time, the average national credit score has reached 706, according to FICO®, the developer of one of the most commonly used scores by lenders.”

This is great news, as it means Americans are improving their credit scores and building toward a stronger financial future, especially after the market tumbled during the previous decade. With today’s strong economy and increasing wages, many Americans have had the opportunity to improve their credit over the past few years, driving this national average up.

Since Americans with stronger credit are now entering the housing market, we are seeing an increase in the FICO® Score Distribution of Closed Loans (see graph below):

But hang on – don’t forget that this does not mean you need a FICO® score over 700 to qualify for a mortgage. Here’s what Experian, the global leader in consumer and business credit reporting, says:

 

FHA Loan: “FHA loans are ideal for those who have less-than-perfect credit and may not be able to qualify for a conventional mortgage loan. The size of your required down payment for an FHA loan depends on the state of your credit score: If your credit score is between 500 and 579, you must put 10% down. If your credit score is 580 or above, you can put as little as 3.5% down (but you can put down more if you want to).”

 

Conventional Loan: “It’s possible to get approved for a conforming conventional loan with a credit score as low as 620, although some lenders may look for a score of 660 or better.”

 

USDA Loan: “While the USDA doesn’t have a set credit score requirement, most lenders offering USDA-guaranteed mortgages require a score of at least 640.”

 

VA Loan: “As with income levels, lenders set their own minimum credit requirements for VA loan borrowers. Lenders are likely to check credit scores as part of their screening process, and most will set a minimum score, or cutoff, that loan applicants must exceed to be considered.”

 

Bottom Line

As you can see, plenty of loans are granted to buyers with a FICO® score that is lower than the national average. If you’d like to understand the next steps to take when determining your credit score, let’s get together so you can learn more.

 

Source.. KCM Bill & Fran Jenkins Blog

 

There are many opportunities for growth in the current real estate market. To find out what’s right for your family, let’s get together to help you understand your options and guide you toward the best decision

All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.  

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Almaden Valley
Oct. 1, 2019

Silver Creek Valley Homes For Sale | What to Expect from Your Home Inspection

There's is an abundance of open space, hiking trails, great schools and charm. Locals know that Silver Creek is a great place to raise a family.

While some people may say that the area is energized by new growth and rapid changes, Silver Creek value comes from its welcoming warm atmosphere, where neighbors participate enjoying various spectacular amenities enjoying a great convenient location.

All great neighborhoods have this in common. Pride in ownership is obvious when the residents, whether renters or owners, maintain their homes and care about their neighborhood. Neighbors participate to connect and create local groups that bring the residents together for the betterment of the area.

Connect with the past, present and future in Silver Creek Valley, one of the most charming neighborhood you'll find in the San Jose area.

Every home buyer has a wish when looking for a home, while not all of them are granted, the ‘feel good magic’ happens when they start selling homes around neighborhoods of this beautiful valley.

Is the people what makes this place a little different from others, It's a great place to live.

Neighbors welcome you with open arms and share indiscriminately the beauty and charm that Silver Creek has to offer.

Today I would like to point out specifically about What to Expect from Your Home Inspection

 

You made an offer and it was accepted. Your next task is to have the home inspected prior to closing. Agents often recommend you make your offer contingent upon a clean home inspection.

This contingency allows you to renegotiate the price you offered for the home, ask the sellers to cover repairs, or in some cases, walk away if challenges arise. Your agent can advise you on the best course of action once the report is filed.

 

How to Choose an Inspector

Your agent will most likely have a short list of inspectors they’ve worked with in the past to recommend to you. HGTV suggests you consider the following five areas when choosing the right home inspector for you:

 

1. Qualifications – Find out what’s included in your inspection and if the age or location of your home may warrant specific certifications or specialties.

 

2. Sample Reports – Ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. In most cases, the more detailed the report,

the better.

 

3. References – Do your homework. Ask for phone numbers and names of past clients who you can call to discuss their experiences.

 

4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations does, however, often mean continued training and education are required.

 

5. Errors and Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human, after all, and it is possible they might miss something they should see.

 

Ask your inspector if it’s okay for you to tag along during the inspection, so they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof or crawling around in the attic and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating and air conditioning systems, ventilation, windows, fireplace and chimney, foundation, and so much more.

 

Bottom Line

They say, ‘ignorance is bliss,’ but not when investing your hard-earned money into a home of your own. Work with a professional you can trust to give you the most information possible, so you can make the most educated decision about your purchase.

 

Source.. KCM Bill & Fran Jenkins Blog

 

“All agents are NOT alike, We are Different … and We Want To Earn Your Business and Trust”

“The real estate market is constantly changing. I would like the opportunity to show you some of the new ways in which you are able to buy, sell and search for new homes”. 

We continually invest in the latest technology to give you the most up to date information on homes for sale and the most exposure for your property when selling.   

Give us a call at 408–741–9300 before buying or selling your next home. 

Don Orason, Owner — Silicon Valley Real Estate Team   

www.siliconvalleyrealestateteam.com

 

 

Posted in Silver Creek