Category Archives: Buy

3 Questions to As Before You Buy Your Dream Home

3 questions 3

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market. Continue reading


Thinking of Making an Offer? 4 Tips for Success

offer to purchase

So you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market that you want to make sure you make a good offer so that you can guarantee your dream of making this house yours comes true!

Freddie Mac covered “4 Tips for Making an Offer” in their latest Executive Perspective. Here are the 4 Tips they covered along with some additional information for your consideration: Continue reading

5 Reasons to Use a Realtor


Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make! They are there for you to help with paperwork, explaining the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).

One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience. Team Patereau is your local resource and we welcome your business.

This Week in Real Estate Lending

Information provided by:

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Friday, June 24th, 2016

Rates improved after Brexit vote.

The initial polls on the British vote on whether to leave the European Union were negative for mortgage rates. The economic data released over the past week came in close to expectations and had little impact. Fed Chair Janet Yellen’s testimony to Congress also had little effect. As a result, mortgage rates ended the week a little higher.

The key “Brexit” vote to decide if the UK will exit the European Union (EU) took place on Thursday, but daily volatility in U.S. mortgage rates was seen during the week as new polling data became available. The vote to leave and the economic uncertainty that will follow has resulted in some investors shifting to relatively safer assets, including U.S. mortgage-backed securities (MBS), which has been good for mortgage rates. Continue reading

Real Estate Market Report – May 2016

Here’s a report published by Intero Real Estate Services, Inc., about the Real Estate Market in Santa Clara County for the month of May, 2016.

May 2016 is a Seller’s market!
The number of for sale listings was up 8.7% from one year earlier and up 6.2% from the previous month. The number of sold listings decreased 3.6% year over year and increased 5.8% month over month. The number of under contract listings was down 1.2% compared to the previous month and down 3.1% compared to the previous year. The Months of Inventory based on Closed Sales is 1.2, up 9.5% from the previous year. The Average Sold Price per Square Footage was up 4.7% compared to the previous month and up 7.4% compared to last year. The Median Sold Price increased by 1.4% from last month. The Average Sold Price also increased by 4.2% from last month. Based on the six month trend, the Average Sold Price trend is Appreciating and the Median Sold Price trend is Appreciating. The Average Days on Market showed a downward trend, an increase of 5.6% compared to the previous year. The ratio of Sold Price vs. Original List Price is 102%, a decrease of 4.7% compared to the previous year.

Santa Clara County-May

It is a Seller’s Market
Property Sales (Sold)
May property sales were 1039, down 3.6% from 1078 in May of 2015 and 5.8% higher than the 982 sales last month. Continue reading

Housing Market Ranking for North America

RISMedia, the Leader in Real Estate information, recently published information about North America’s Superstar Housing Markets. Here’s what they said.

“At the end of 2015, it became obvious that the undisputed superstar among all real estate markets in North America was San Francisco. Not too much room for surprise in this case for those who know that the average home price here went over the $1 million threshold in the first half of 2015 and hasn’t gotten below since.”


expensive housing market 2016

San Jose is in the #3 spot of the venerable list, and here’s what has to say about it: “The state of California has another strong representative in the list of the top most expensive housing markets in North America. And not just on this continent. With $700,000 the median home sale price, San Jose also ranks very high on the list of most unaffordable cities in the world according to Demographia’s housing index.”

Read the entire article here:

Difference between Owner Expectation and Appraised Value Widens

  • Nationally, appraised values were nearly 2% lower than homeowner expectations.
  • Gap between appraisal and owner estimates widened for first time in six months – albeit slightly.
  • Home values increased 1.51% in February and rose 3.89% year-over-year, according to national HVI.

DETROIT, March 8, 2016 – Quicken Loans, the nation’s second largest retail mortgage lender, today announced home appraisals were an average of 1.99 percent lower than what homeowners expected in February, according to the company’s proprietary Home Price Perception Index (HPPI). The study compares actual appraised values to what refinancing homeowners estimated their home was worth at the beginning of the mortgage process. February brings a reversal to the previous five-month trend of a narrowing gap between the two data points.

Home values showed continued growth in February, making up for the slight dip in January. Nationally, appraised values increased an average of 1.51 percent according to the Quicken Loans Home Value Index (HVI) – the only measure of home values based solely on appraisals. The index has increased 3.89 percent when compared to February 2015.