Thomas Feng with Bay Area Connect and Joe Lima of Princeton Capital presenting your weekly Bay Area Financial / Real Estate Update.

Have a question about real estate? Leave it below in the comments and I will address it in one of my future videos!

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

Copyright 2010-2013 by Thomas Feng, All Rights Reserved. You may reblog or republish with links back to this post.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

Looking for ideas for fun and exciting outings with your family for June 14th – June 16th in and around Sunnyvale CA?

Here are 3 Family Friendly events for this weekend: Friends of the Library Book Sale in Santa Clara, Saratoga Eats Mobile Food Truck Meet-Up in Saratoga, and Pop Up Card Workshop in Milpitas!

Open to members at 9 a.m.; open to the public 10 a.m. to 2p.m.. From Noon to 2pm books we hold a bag sale. Instead of selling books individually, the Friends sell large grocery bags for $5 each which you then fill with whichever books you want. It’s a fantastic bargain!

This will be held Saturday, Jun 15 10:00a to 2:00p at Santa Clara City Library Santa Clara, CA.

Price: FREE

This will be held Today 5:00p to 9:00p Intero Real Estate Saratoga CA. For more information call at (408) 741-1600.

Price: FREE

This will be held Saturday, Jun 15 10:00a in room MCC5 at 457 E. Calaveras Blvd. Milpitas, CA 95035.

Price: while supplies last

Credits to:
The Sunnyvale Sun

You may reblog or republish with links back to this post.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

It’s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial market, general market conditions, and interest rates.

Low inventory and rising home prices are frustrating to many buyers, but unfortunately would-be buyers may have to wait a few more years for relief, according to experts.

• Institutional investors, who have been driving the market with their all-cash purchases and buying houses for rental income, need to be in and out in two to three years, according to one real estate analyst. Otherwise they cannot make a profit.
• For housing to normalize, individuals will need to come back to the marketplace and that will be driven by employment.
• Among the signs that investors are buying up swaths of homes in a specific area are the lack of bank-owned properties coming on the market despite high foreclosure rates.
• Consumer understanding has been a step behind what’s happening in the housing market. When the prices started going down, sellers were the last ones that got the memo. Today’s buyers may have to be willing to look in different locations, while prices continue to appreciate.

In other news…

Default Servicing News – Incorrect, outdated information most common issue on credit reports

While 22 percent of American admitted they have never checked their credit report, nearly a quarter also said they have encountered issues with their credit report, with incorrect or outdated negative marks leading as the main type of problem, according to a recent FindLaw.com survey.

Los Angeles Times – Latest data show housing prices are rising nationwide

According to data supplied by Pro Teck Valuation Services, the average median price of the 100 mostactive core-based statistical areas was up almost 12 percent from the same period a year earlier.

CNNMoney – Will the housing rebound crush the job market?

A new study points to higher homeownership as the reason the unemployed aren’t finding work.

Los Angeles Times – U.S. home prices post 12.1 percent gain in April

Led by gains in the Western states, national home prices were 12.1 percent higher in April than the year prior, according to CoreLogic’s home price index.

The Wall Street Journal – Study: How using homes as ATMs fueled foreclosures

Why did so many people who bought their homes before the housing bubble fully inflated end up losing their homes? These homeowners aggressively used their homes as ATMs, extracting cash by refinancing into larger loans or using home-equity loans, according to a paper published by Steven Laufer of the Federal Reserve Board.

San Diego Union Tribune – Tiny housing bubble may be forming amid buying pressure

In the housing market blowing another bubble? Quite possibly, but it’s still a great time to buy a home. IN a market that I unusually prone to boom and bust, we are very early in the process, judging by the market fundamentals.

What you should know…

• Relisting a home isn’t an enviable position for any seller. Generally, when a home is relisted it is because something went wrong the first time, and for many sellers, trying again to sell the home raises more questions than answers.
• A true relisting is defined as having a 90-day gap between the time the property goes off the market and when it comes back. In that scenario, many real estate agents say it isn’t always price that kept the property from moving.
• According to one real estate expert, when relisting a home, the first objective should be to tackle the questions of why the home was removed from the market in the first place. It could be a number of reasons – financing failing to come through, an appraisal coming in lower than expected, or the house being relisted at a lower or higher price – but the best answer is always the truth, no matter what it may be.
• Sellers relisting their home after three or more months off the market should listen to comments from their REALTOR®. The best place to start is with a post-mortem on what went wrong the last time.
• After a listing ends, homeowners should ask their REALTOR® how the market perceived the home. The answers to this question should guide future strategy, especially if a number of other real estate agents and buyers raise the same issues.

If you have any questions about the current real estate market give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com to discuss your situation and how to get the most out of the current real estate housing market.

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

Copyright 2010-2013 by Thomas Feng, All Rights Reserved. You may reblog or republish.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

A look at how the weather will be affecting us this week in Sunnyvale CA.

Credits To:
NBC Bay Area

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Real Estate Blog *

This is Thomas Feng with Bay Area Connect presenting you this weeks Market Report for Santa Clara CA 95050 95051 95054.

In this market report we will be looking over the monthly statistics for May of 2013.

Maps of New Listings, Sold Listings, and Analysis are below the video.

To schedule an appointment to go over all of these statistics overlaid with school data/API Scores call me at 408-840-3852 or send me an email Thomas.Feng@gmail.com.

For a copy of this market report or a market report for another Bay Area city simply fill out this Market Report Form and I will have one sent over to you within 24 hours.

Have a question about real estate? Leave it below in the comments and I will address it in one of my future videos!

April 2013: 66 Sold Listings 15 in 700K, 12 in 600K, 15 in 500K, 11 below 400K 53/66 below 700K

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

Copyright 2010-2013 by Thomas Feng, All Rights Reserved. You may reblog or republish with links back to this post.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

Looking for ideas for fun and exciting outings with your family for June 7th – June 9th in and around Sunnyvale CA?

Here are 4 Family Friendly events for this weekend: the Juried Sunnyvale Art Show in Sunnyvale, the 28th Annual California Country & More Antiques Show, Foodie Fun in Saratoga, and Vasona Vibrations in Los Gatos!

There will be over 75 Art works on display. You can also enjoy live Painting outdoor and snacks during the show. The show is for two days.

This will be held Saturday – Sunday, Jun 8-9 12:00p to 6:00p at Sunnyvale Public Library Sunnyvale, CA. For more information visit their website at Sunnyvale Art Club.

Price: FREE

This will be held Sunday, Jun 9 10:00a to 4:00p at Hillview Community Center Los Altos, CA. For more information visit their website at California Country & Antique Show.

Price: $10-$15

This will be held Sunday, Jun 9 4:00p to 8:00p at Alameda Family Funeral & Cremation Saratoga, CA. For more information visit their website at Foodie Fun.

Price: FREE

This will be held Saturday, Jun 8 5:00p at Vasona Lake County Park Los Gatos, CA. For more information visit their website at Vasona Vibrations.

Price: FREE

Credits to:
The Sunnyvale Sun

You may reblog or republish with links back to this post.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

Thomas Feng with Bay Area Connect and Joe Lima of Princeton Capital presenting your weekly Bay Area Financial / Real Estate Update.

Have a question about real estate? Leave it below in the comments and I will address it in one of my future videos!

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

Copyright 2010-2013 by Thomas Feng, All Rights Reserved. You may reblog or republish with links back to this post.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

It’s Tuesday News Day and these are this weeks hot topics concerning the real estate market, the financial market, general market conditions, and interest rates.

Just a year ago, 30-year, fixed-rate jumbo mortgages were hard to find in some high-price markets. Now, many lenders are offering fixed jumbos – with very competitive rates.

• A jumbo mortgage is a home loan with an amount that exceeds conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders. The conforming loan limit is $417,000 in most parts of the United States, but is $625,500 in the highest-cost areas, which includes California.
• During the mortgage crisis, the vast majority of jumbos were adjustable-rate mortgages and hybrid adjustable-rate mortgages, which started at low fixed rates and switched to adjustable interest rates at the end of a set time period – typically of five, seven, or 10 years.
• With the renewal of the secondary market for jumbo mortgages, more lenders today are willing to offer fixed-rates. Packaging the loans into mortgage-backed securities that are sold to investors can lessen the risk to lenders.
• While interest rates for jumbo mortgages are significantly lower than a year ago, hybrid ARMs remain attractive to borrowers with other financial priorities.
• The general wisdom when deciding between an ARM and a fixed jumbo is the same as with any mortgage. Borrowers should consider the length of time they plan to live in the house. If the length of time is near or less than the length of the ARM, then borrowers will save money with
  the ARM.

• Still, borrowers should keep in mind that some lenders will push hybrid ARMs because the lender stands to reap a higher return on investment. Additionally, lower ARM interest rates and monthly payments can free up cash to purchase stocks and other assets.

In other news…

Los Angeles Times – Local lenders say U.S. “qualified mortgage” rules go too far

The Consumer Financial Protection Bureau rules, which aim to eliminate lending abuses that caused the financial crisis, will hurt borrowers, lenders say.

DS News – Millions of above-water borrowers lack enough equity to move

The number of homeowners underwater on their mortgages continued to fall in Q1, but millions still lack enough equity to afford to move, Zillow revealed in its first-quarter Negative Equity Report.

HousingWire – FHFA: Home prices continue to climb

Home prices inched up 1.9 percent in the first quarter compared with the previous quarter, according to the Federal Housing Finance Agency. This is the seventh consecutive quarterly price rise in the purchaseonly, seasonally adjusted index.

Los Angeles Times – Mortgage underwriting rules eased for seniors with assets

The revision allows lenders to use untapped retirement account balances in computing debt-to-income ratios to help seniors qualify for a mortgage.

CNN Money – Consumer confidence at 5-year high

The Consumer Confidence Index, which gauges how consumers feel about the economy each month, rose to 76.2 in May – its highest reading since February 2008, according to research firm The Conference Board.

Los Angeles Times – Home prices in U.S. cities post big increase in March

Tight housing supply and strong demand continued to fuel a robust market recovery in March, with the Standard & Poor’s/Case-Shiller index of 20 U.S. cities recording a 10.9 percent year-over-year increase.

What you should know

• Distressed home sales continued to decline in April, as previously underwater homes rose in value, and the share of REO sales registered in the single-digits for the first time in more than five years, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported
• The combined share of all distressed property sales registered its lowest level since February 2008, dropping to 24.4 percent in April, down from 27.9 percent in March and down from 45.8 percent in April 2012. The share of all distressed sales in most counties also declined significantly from the previous year, with Alameda, Contra Costa, Marin, Orange, San Diego, San Mateo, and Santa Clara registering in the single- or low double-digits in April.
• The share of equity sales – or non-distressed property sales – now make up more than threefourths of total sales, the highest share since February 2008. The share of equity sales in April increased to 75.6 percent, up from 72.1 percent in March. Equity sales made up more than half (54.2 percent) of all sales in April 2012.
• The available supply of homes was relatively unchanged from March but remained tight. In April, the Unsold Inventory Index for REOs dipped from 1.8 months in March to 1.7 months in April. At 2.7 months, the supply of short sales remained unchanged in April. The April Unsold
  Inventory Index for equity sales was 2.9 months, down from 3 months in March.

If you have any questions about the current real estate market give me a call at (408) 840-3852 or shoot me an email at Thomas.Feng@gmail.com to discuss your situation and how to get the most out of the current real estate housing market.

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

Copyright 2010-2013 by Thomas Feng, All Rights Reserved. You may reblog or republish.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

This is Thomas Feng with Bay Area Connect presenting you this weeks Market Report for Sunnyvale CA 94085 94086 94087 94089.

In this market report we will be looking over the monthly statistics for May of 2013.

Maps of New Listings, Sold Listings, and Analysis are below the video.

To schedule an appointment to go over all of these statistics overlaid with school data/API Scores call me at 408-840-3852 or send me an email Thomas.Feng@gmail.com.

For a copy of this market report or a market report for another Bay Area city simply fill out this Market Report Form and I will have one sent over to you within 24 hours.

Have a question about real estate? Leave it below in the comments and I will address it in one of my future videos!

April 2013: 79 Sold Listings 12 in 700K, 15 in 600K, 7 in 500K, 10 below 400K 44/79 below 700K

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction

Copyright 2010-2013 by Thomas Feng, All Rights Reserved. You may reblog or republish with links back to this post.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Connect *

A look at how the weather will be affecting us this week in Sunnyvale CA.

Credits To:
NBC Bay Area

Because of the many legal and tax situations that can arise through the sale and purchase of real estate ALWAYS consult with your ATTORNEY or ACCOUNTANT before making ANY decisions in ANY transaction.

* THIS ARTICLE WAS POSTED AT Thomas Feng’s Bay Area Real Estate Blog *