Historic California Bungalow Listed at $559,000

Attractive historical Craftsman Bungalow originally built I 1908, recently remodeled with crown molding & ceiling medallions, updated flooring & cabinetry, granite & tile. Ready to move in. Newer designed landscaped, easy care front & back. 2 bonus rooms, separate living room, dining room open to the kitchen, inside laundry & large front porch. Energy efficiency upgrades: attic insulation, attic insulating heat reflective paint, dual pane windows. Many built-in cabinets & drawers. Centrally located: walking distance to stores, bus stop, schools, parks & restaurants. Ground floor is wheelchair accessible with an electric lift on the front porch. Large 10 x 12 well-built shed and partial cellar. Must see to appreciate!

http://tours.pattersonmedia.com/public/vtour/display/537154?a=1

 

Gilroy Realtor Tour 3-24-2016

There’s three new listings this week. Three very nice homes, easy to show and move-in ready. If you are interested in any of these homes, or if you are interested in listing your home, please contact us. We’ll take care of it for you.

Here’s our Featured Property for this week: 9049 Church Street, Gilroy.

 

Featured Property: 2085 Roop Road, Gilroy CA 95020

We think this property is priced right and has lots of amenities that are in demand in today’s market. Check it out, then contact us to schedule your own in-person tour.

—

—

 

Home for Sale – 7421 Miller Ave., Gilroy CA

Home for sale on a beautiful tree-lined street in the heart of Gilroy. 7421 Miller Avenue is available for viewing with open houses scheduled every week-end and appointments available all through the week. Contact Team Patereau: 408-981-8550, rpatereau@interorealestate.com, www.TeamPatereau.com.

And, don’t forget that we love comments!

—

—

Why You Should Consider Listing Your Home Over the Holidays

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

The holiday season can bring many stresses of its own without adding a home sale to the list. This can keep many sellers on the sidelines or send them pulling their houses off the market until the new year rings in.

But contrary to what you may think, this time of year can actually be a fantastic sweet spot for sellers. Holiday buyers are serious and motivated. Consumer confidence is higher than at any other time of year. And relocating families tend to have more time and reason to shop for a new home over the holidays.

Housing Shows Signs of Seasonal Cooling

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

Seasonal cooling in the housing market is normal and expected. And it appears we’re now entering that period of cooling off, with existing home sales down in September after hitting post-recession highs.

Total existing home sales, including single-family homes, townhomes, condos and co-ops, fell 1.9% to a rate of 5.29 million last month from August, according to the latest numbers from the National Association of Realtors. However, sales are still trending 10.7% above year-ago levels.

Even as sales slowed, the national median existing-home prices for all housing types was $199,200, 11.7% above levels seen in September a year ago. This also marked the tenth consecutive month of double-digit annual increases in home values.

Home Values Inching Closer to Record High

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

Have you checked out the sale-to-list price of some of the homes in your neighborhood recently?

I have. And the difference was over six figures.

Realizing of course, that home prices are different across markets, neighborhoods and school districts, something definitely has hit the value vein in the housing recovery.

The National Association of Realtors reports the median home price, $213,500 in July, was just 7.3% off the record high in 2006 when it was $230,400.

The median price was 13.7% higher than the same period a year ago, and the 17th consecutive month prices have risen year over year.

Clearly, values have bounced back.

But it’s important to note that median literally is the middle number between the highest and the lowest. So the bounce back doesn’t necessarily mean there’s a recovery at all price points or for all.

Existing home sales also were up in July – increasing 6.5% to a seasonally adjusted annual rate of 5.39 million from 5.06 million in June. The pace of sales was 17.2% higher than July 2012.

NAR says that monthly existing home sales have now remained above year-ago levels for 25 months.

Along with the rise in values, inventory levels are also increasing, though still too low to fully meet demand in some markets. Total housing inventory at the end of July climbed 5.6% to 2.28 million existing homes for sale, representing a 5.1-month supply at the current sales pace.

Restricted inventory is the reason for the above-normal price growth in many markets.

The last piece of our housing snapshot is interest rates, which clearly have been increasing. Average rates on 30-year conventional fixed-rate mortgages were 4.37% in July, up from 4.07% in June. The question going forward will be how much will rates rise before starting to remove large swaths of buyers from the market?

We’re likely to see all of these trends continue to the end of the year, making 2013 pivotal in the big picture of the housing recovery.

Collection of Links

We’ve collected some great blog posts and articles that we think you will enjoy. Let us know if you think one is more useful than another, and if you implemented any of the ideas presented here.

  10 Things You Probably Own Too Much Of
In our household we have too much (according to this article from Apartment Therapy) of all 10 of these things. We’re working on it, and to start we picked sheets. We’re probably least emotionally attached to those, although we do like our sheets.

 

 

  Top 10 Home Improvements that Pay You Back
USUALLY you get some of your money back when you sell your improved home. However, be sure to check conditions in your area. Most of the time the cosmetic, somewhat quick improvements like painting pay off. Sometimes bathroom and kitchen improvements pay off, but it depends on how much you spend, and it’s sooooo easy to overspend. Be careful here, and be sure to take your Realtor’s advice.

 

 

  How Fast Can You Buy a Home?
The answer for Buyers is probably, “Not fast enough!” Well, a real estate transaction today is almost always not fast enough for anybody involved in the transaction. This article helps Buyers get everything lined up to have the fastest possible transaction, which, again, is almost always, “Not fast enough.”

 

 

 

  10 Things Burglars Don’t Want You to Know
In many local residential areas, it’s very easy to get very carefree about leaving our things out and about, and not worrying about theft. But, we can all be just a little more conscientious about our possessions, and making our property less inviting to burglars.

 

 

 

  How to Prevent Mold & Mildew
This article suggests how we can prevent the common household problem. The video explains how to get rid of it once we get it, which we probably all do at one time or another.

 

 

 

Pending Sales Slip in June, but Soar Above Last Year’s Levels

By Gino Blefari, President and CEO, Intero Real Estate Services, Inc.

Pending home sales, a key indicator pointing to short-term market projections, eased back from a six-year high in June as rising interest rates and restricted supply began to impact buyers.

The National Association of Realtors’ latest Pending Home Sales Index was down 0.4% in June from 111.3% in May, but still 10.9% above the same month a year ago when it was 100%.

Regionally, the pending sales index fared the best in the West where it jumped 3.3% to 114.2% and is 4.4% above where it was a year ago. The index remained unchanged in the Northeast at 87.2, while coming in 12.2% higher than year ago levels.

In the Midwest, the index fell 1% to 114.3%, but was 19.5% higher than it was a year ago. And pending sales in the South fell 2.1% to an index of 118.3% in June, which was 9.5% higher than the same month last year.

Does this mean summer is over and markets will ease through the end of the year? Not necessarily.

The fact that pending sales are still notably higher across the U.S. than they were at this time last year bodes well. What we’re seeing in the month-to-month slippage is more likely to be from the recent rise in interest rates, as well as continued low supply in markets where there is healthy demand.

In some places, buyers are either getting outbid due to excessive competition or they simply cannot find a home that suits their needs.

Because of this, new construction is another indicator we all should watch closely. I expect to see much more aggressive building in the next five years in markets where land is abundant.

With demand so high and interest rates still incredibly attractive, many markets could probably see sales increase substantially if there were more opportunities to buy.

Pending sales may have slipped, but the fact is the market is still moving pretty well in many areas. Supply is the wildcard this year.