You are here: Home / Blog

January Housing Inventory is still Low

February 10, 2010 by
Housing inventory in Santa Clara county is still low in January. I pulled data of housing inventory changes for Palo Alto, Los Altos, Cupertino, Mountain View, Sunnyvale, Santa Clara and Milpitas.
 
The first chart is for Palo Alto, Los Altos, Cupertino and Mountain View. Inventory reached peak level in mid 2009 for Palo Alto, Los Altos and Mountain View and was at high level for Cupertino from mid 2009 to Oct 2009 and keep dropping since then.
 
Now the inventory level for all these four cities are at year-low level and at the current speed of buying activities, you are likely to see continuous low level of inventory in these markets.
Chart1: Housing Inventory for Palo Alto, Los Altos, Cupertino and Mountain View
Housing Inventory in Los Altos, Palo Alto, Cupertino and Mountain View 
Same trend persists in Sunnyvale, Santa Clara and even Milpitas. Chart 2 shows you the inventory level in these three cities.
 
Chart 2: Housing Inventory for Sunnyvale, Santa Clara and Milpitas
Housing Inventory in Sunnyvale, Santa Clara and Milpitas
 
Filed Under: Housing Stats Tagged With: , , , , , , , ,

When Buyers Need to Have Funds Ready During Purchase Process

January 20, 2010 by

Often times, buyers ask me:  “When should I have my funds ready after my offer was accepted?”

Here are the guidelines:  The first check you write will be the deposit, which is usually 3% of purchasing price and will be cashed and kept in escrow account three days after your offer was accepted. Remaining funds of down payment needs to be sent to escrow a day or two before close of escrow which will also be the time frame lender wire the mortgage you borrow to the escrow. After escrow verifies all funds received and all the documented requirements satisfied, they can move to close the escrow and it’s the time you will be able to get the key of the house you buy and officially become the new owner.

Email me with your questions and you will see it’s answered here.
Filed Under: Uncategorized Tagged With: , ,

Should Buyers Order Your Own Inspection Reports

December 30, 2009 by

I had buyers asking me from time to time that if the seller has done the inspection reports, should buyers order their own inspections?

First and foremost, as a buyer, you have your rights to do your own inspections and any real estate agent you work with should advise you so.

The common set of reports include Natural Hazard, property and termite reports. If the seller has done the inspections, you should first read these reports carefully, focusing on major issues that could be costly to repair.

After you go through the seller’s inspection reports, you can then decide if you would like to order your inspections and what specific inspection you want to do. One of the benefits of ordering your inspection is you can be there when the licensed inspectors conduct the inspections and have them explain to you in person the issues.

The inspectors should to be licensed to do the work and they are liable for the reports they issue. Therefore, if you are ok after going through the inspection reports ordered by the seller, you can also choose not to order your inspections or can focus on more specialized inspections recommended in the reports.

Filed Under: Real Estate Knowledge Tagged With:
« Previous Page
Next Page »
All information deemed reliable but not guaranteed. The design of this website & its contents are protected by copyright. Unauthorized reproduction is prohibited.