Home buyers more than likely have never experienced the amount of choices they currently have in the search for a new home because of the amount of houses for sale. Hundreds of homes are listed with realty agencies as either short sales or bank foreclosed homes. Even with the sheer amount of options a potential buyer has, many still have a great deal of hesitation in making the leap of faith and entering into a short sale contract. Realtors in San Jose offer some tips to buyers in this predicament.
Searching for a house for sale is an exciting but important time and therefore realtors in San Jose advise engaging a full time experienced realtor. The chosen realtor should be one working in real estate on a full time basis and not as a part time hobby. Dealing with short sales can be a complicated process and it is best to hire a realtor who has dealt with contracts in short sale previously. This gives the home buyer a bit of an edge in knowing what to expect out of the deal as well as how to come to the best sales agreement.
San Jose realtors also suggest that when searching for houses in the San Jose area it is in the buyers best interest to choose a few homes. As nearly 1 out of every 4 short sale contracts fall through, it is important for the buyer to have a backup plan. Realtors understand how to write offers on multiple houses with contingencies built into them so buyers can be released from the contract with no penalty if another of their house contracts is approved.
Realtors in San Jose recommend buyers have all financial documents prepared in advance as this will help speed the short sale process. Banks involved in short sales are losing money and therefore want a strong candidate as a buyer. If the bank must wait for an approval letter from a lender, this may deter them away from agreeing to the short sale contract. Banks dont want to waste any more time or money and are looking for financially strong buyers. Presenting the banks with this information upfront may help them reach an agreement on the sale price a bit quicker.
Searching for houses in San Jose will provide buyers with a great deal of potential future homes as the amount of short sales listed with San Jose realtors is high. This benefits buyers as they have quite a great deal of homes to choose from.
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We analyze several housing market indicators in order to present an in-depth breakdown of San Jose Homes Market comparing March 2009 to March 2010.
Key Points Summary of San Jose Homes For Sale
San Jose Homes for Sale has shown great signs of improvement with median sales price climbing up while at the same time houses are selling faster.Sellers received 100% of asking price.
Key Statistics, San Jose, CA: Median Sales Price (39.05%), Median Days on Market (-52.91%), and Number of Units Sold (-43.63%), Sales Price to List Price Ratio (Mar 09 98% – Mar 10 100%).
San Jose Homes
The city of San Jose experienced a 39.05% increase in median sales price from last year going up from 7,476 (March 09) to 2,689 (March 2010). Median days on market data for San Jose show that houses are selling faster than March 09. It took 110 days in March 09 for a house to sell and for March 10 that number has gone down to 52 days (a 52.91% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 919 units were sold compared to 518 for March 10 (-43.63% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for San Jose. SP/LP ratio for March 09 was 98% compared to 100% for March 10.
Let’s take a brief look at neighbors Los Gatos and Morgan Hill. Los Gatos Homes featured a 32.97% increase in median sales price (8,911 March 09 – ,248,427 March 10) and Morgan Hill Homes saw a 10.27% increase (0,077 March 09 – 5,550 March 10). Are houses in Los Gatos and Morgan Hill selling faster or slower this year? Well, Los Gatos experienced a 17.86% decrease (71 to 58 days) in median days on market and Morgan Hill a 44.60% decrease (138 to 76 days). In the units sold category, Los Gatos sold 5 units more (21.74%) in March 2010 than 09 and Morgan Hill sold 24 units less (-54.55%) in March 2010 than March 09.
Consult latest research and find Homes in all major cities in California including San Jose Homes For Sale, Los Gatos Homes, Morgan Hill Homes.
You can also access San Jose Homes For Sale to view the latest market inventory
Homes for sale for MLS Search,
Bank REO / Short Sale Search
Foreclosure Search ( Outside MLS)
Just Listed Properties
Income Properties (1-4 units)
New Construction Homes
In addition you will find comprehensive Lending information on FHA, VA, USDA, and Conventional Loans. There are web pages for each major city in California with loan products specific to the city including City Down Payment assistance offered.
San Jose Homes For Sale
Housing prices are down, but borrowing is tight. Even if you find your dream home at an affordable price, you might not be able to secure a home finance loan. There’s nothing you can really do to counter this problem, it’s jsut a case of waiting patiently for the market to recover. One productive thing you can do though during this period of wait is assess your current financial situation and just be sure you are 100% ready to purchase a home. The most important financial commitment you will make in your lifetime is agreeing to a mortgage. You must be completely sure that it is the correct time. Just on a quick note, before you are immersed in this article, if you’re looking California homes then I recently found a great site which may be of interest to you: SanJoseHomesForSale2.com.
Buying a house is like choosing a spouse. You’re obviously going to be looking for an attractive option which is going to provide you with a happy environment to live in. One such area which you may find suitable is San Jose: San Jose homes for sale. The issue most people are faced with is, when do you really know that you are ready to settle down? Ask yourselves these questions first.
Question 1: Am I really in a position to be able to stay put in one location? California is a great place to settle down for a good few years, especially, San Jose – San Jose homes for sale.
You will always regret some decisions you make. When individuals choose to buy or rent an apartment, they wish they’d bought a house. But if and when they buy a house, some regret the fact that they really have to stay where they are now. In short, once you buy a house, expect to live with your decision and your home for many years to come. You need to get the location spot on, look at this area – San Jose homes for sale.
If you are ready to settle down then purchasing a house would certainly be the best decision to make. However, if you are undecided then my advice would be to hold off purchasing until you are really sure that you are ready to agree to continue living in one area for many years. If you decide to quickly put the property up for sale, you may end up loosing money on your investment. San Jose homes always seem to retain their price though, so go ahead and look at San Jose homes for sale.
One thing to look for when purchasing a home is the question over whether good schools are in close proximity. San Jose has many great schools, have a look for San Jose homes for sale. Great schools add to the value of your home, and they’ll tempt buyers if you ever decide to sell someday.
Question 2: What’s my credit looking like? A vital step you must take before deciding to purchase a home to is to check whether you are eligible for a pre-approved mortgage. This process involves the bank taking a hard look at your financial commitments and your history regarding credit. One way to drastically increase your chances of approval, is to ensure that all current debts are paid off. Make sure to have a history of timely payments that goes back at least 12 months – preferably 24. Also, don’t apply for new credit for several months before home-shopping; too many inquiries may reflect poorly on your credit rating.
Question 3: How Much House Can I Afford? If you are willing to invest a lot of money into a house then look at San Jose homes for sale or similar. This question is the most important you need to ask prior to searching for homes. It is key that you are able to live in a nice house, but also that you are able to live at an acceptable standard, you don’t want all your money each month going out on mortgage repayments alone. If you’re wage annually isn’t in one of the top percentiles, San Jose homes for sale may not be suitable. The rule of thumb is to obtain a mortgage no more than two and a half times your yearly income. So if you earn $125,000 a year, then your mortgage could be up to approximately $300,000. If you talk to your bank manager, then they will provide you with more details. FICO has a good mortgage loan calculator at their web site.
Buying a house doesn’t have to be a nightmare. Doing the groundwork beforehand will take a lot of the stress out of your home buying experience. Just make sure you’re ready to be a home owner, and do the math to see what you can realistically afford. If you carry out the tasks above then you will be confident in the knowledge that you have made the best possible preparations prior to the biggest purchase of your life. On a concluding note, if you are looking for homes in California, why not check out these San Jose Homes For Sale.
Getting a loan to buy a property is a major decision and it should not be taken lightly. You really need to be able to enjoy the area you live in and want to live there, a place with one of the best work life balances is San Jose, check out San Jose homes for sale. The rate of interest largely dictates what the recipient of the credit pays out each month. There are a few things that people should keep in mind when they are shopping for a home to get the best achievable interest rate on their mortgage. Before I forget though, if you’re searching for a home in San Jose California, then do a search for San Jose homes for sale.
To be eligible for a good interest rate you will need to have an excellent credit score. Before applying for a loan, the borrower should obtain a free copy of their credit file and check it carefully for any mistakes. If there are errors, explain them in a letter to the credit bureau and send it, with any available proof, to the bureau via certified mail.
Someone must always pay their bills on time to keep their credit rating up, but this is especially important in the 6 months prior to applying for a loan. What a lender wants to ensure, is that you will be in a position to be able to make repayments, and that you will actually repay them on time, this is a problem that those with San Jose homes for sale certainly do not have. Late payments are never a good thing but if they occur within months of a loan application, the interest rates could skyrocket.
When applying for a mortgage, it is best that that is your only application for credit at that time. This is because it is known that every time an application for credit is made, it can have a bad effect on your credit rating. Through reducing your debts you will be offered the best interest levels.
After you have sorted your credit rating out, the next step is to slowly start looking at the best mortgage deals out there. It is always a good idea to shop around and not take the first offer given by a bank. Search for a mortgage with less than $1000 dollars in setup fees and lower interest rates. Also check on the internet and in the local paper for further options. A popular advert I noticed recently was one for San Jose homes for sale. But again, the interest rate you are offered all boils down to the strength of your credit score, so you should always try to improve this prior to applying for a mortgage. The credit rating is the first and most important thing to consider in a creditor’s decision. Acquiring a strong credit score can considerably lower the interest rate that someone receives on their home loan. I have noticed that some of the best deals come in California, particularly San Jose, so I’m looking for San Jose homes for sale.
A popular way to get more out of your home is through Fast Home Equity Loans. These kind of loans seem to be popular where I’m currently looking to relocate to, in particular San Jose homes for sale. To understand more about them, perform a google search. Also, be sure to check out Stated Income Loan for information on a great home loan option. Just to finish, if you are after homes in California then take a look at them through a search engine San Jose Homes For Sale.
I’m sure you have heard it a million times that first impressions count. Maybe you think it’s just a cliche, but that doesn’t change the fact that it’s true for San Jose Homes For Sale.
And it’s never more true than when you put your home up for sale and shoppers come to view it. Even if they have an idea of what they’re going to find, even if they’ve been given a hot list of your home’s best qualities and stand-out features, all that is put to the side the first time they get to see the home in person. And if they don’t like what they see the opportunity may be over for all San Jose Homes For Sale.
First Impressions Of San Jose Homes For Sale
And so, as you’re showing your San Jose home, put yourself in the buyer’s shoes and step out to the curb, take a look at your home, and consider the following “first glance” improvements.
The front door should be inviting paint or stain the entrance if it shows signs of chipping or peeling.
Have a front porch? Dress it up with container gardens and sweep regularly, making it an attractive “outside room”.
Check for other signs of peeling paint around the exterior and touch up where needed. Remember that buyers will be comparing your home to other similar homes in and around the San Jose area, and every little detail that makes yours more appealing will pay off.
Of course, your landscaping makes an obvious first impression, so remove any dead or dying debris, fertilize the lawn and plant some flowering bushes if you need a little color. Try to make your home stand out in a positive way from the other San Jose Homes For Sale.
Finally, after making sure your home looks great, make sure it’s well lit to best show it off. Don’t overdo it, but do offer a well-lit doorway and walkways, and even “uplight” your better landscaping elements. If you show buyers “We love this home,” then so will they!
San Jose Homes For Sale
Home buyers more than likely have never experienced the amount of choices they currently have when searching for a new home because of the upswing in the marketplace of San Jose Homes For Sale. Hundreds of homes are listed with realty agencies as either short sales or bank foreclosed homes in addition to the usual listings. Even with the sheer amount of options a potential buyer has, many still have a great deal of hesitation in making the leap of faith and entering into a short sale contract. Realtors in San Jose offer some tips to buyers in this predicament.
Searching For San Jose Homes For Sale
Searching for a home for sale is an exciting but important time and therefore realtors in San Jose advise engaging a full time experienced realtor. The chosen realtor should be one working in real estate on a full time basis and not as a part time hobby. Dealing with short sales can be a complicated process and it is best to hire a realtor who has dealt with contracts in short sales previously. This gives the home buyer a bit of an edge in knowing what to expect out of the deal as well as how to come to the best sales agreement.
San Jose realtors also suggest that when searching for San Jose homes for sale and nearby areas, it is in the buyer’s best interest to choose a few homes. As nearly 1 out of every 4 short sale contracts fall through, it is important for the buyer to have a backup plan. Realtors understand how to write offers on multiple homes with contingencies built into them so buyers can be released from the contract with no penalty if more than one home contract is approved.
Realtors in San Jose recommend buyers have all financial documents prepared in advance as this will help speed the short sale process. Banks involved in short sales are losing money and therefore want a strong candidate as a buyer. If the bank must wait for an approval letter from a lender, this may deter them away from agreeing to the short sale contract. Banks don’t want to waste any more time or money and are looking for financially strong buyers. Presenting the banks with this information upfront may help them reach an agreement on the sale price a bit quicker.
Searching for homes for sale in San Jose will provide buyers with a great deal of potential homes for viewing as the amount of short sales listed with San Jose realtors is high. This can benefit buyers looking for a gargain since it is a buyers market and they have many homes to choose from when looking to buy San Jose Homes For Sale.