Real Estate Market

The market is HOT in much of Silicon Valley! Investors return and are bidding up property values, paying all cash and nudging out "regular" buyers. Appraisals are lagging behind the increase in prices and this is causing some sales to fall through. Inventory's rising, but still far below year-ago levels county average is about half of what it was a year ago). 

You can read the full on-line Real Estate Report here: http://popehandy.rereport.com/, you may have to cut and paste this address into your browser address bar, or, you can just Click here.

There is also a 4 page printable version with more articles here: http://rereport.com/scc/print/Mary.PopeHandySCC.pdf, you may have to cut and paste this address into your browser address bar, or, you can just Click here.

Zilllow's predicting a second dip in the market early this year but we'd have to see a dramatic increase in inventory and falloff in demand for that to happen - and we're just not seeing that now.

Interest rates are predicted to go up 1/2 to 1 full percent this year.  The homebuyer tax credit expires in late April (closings to June 1st) so the combination is creating a LOT of demand for buying. 

Wishing you all a very Happy Valentine's Day, Chinese New Year, and President's Day!