Lower mortgage rates draw borrowers back to market | 12 County Bay Area Real Estate Report






 


Lower mortgage rates draw borrowers back to the market
PROBATE AND ESTATE SALES
Cupertino Home of the Week
Willow Glen Home of the Week
Luxury Home of the Week
How your Home will be Marketed
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Vito Scarnecchia,
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Lower mortgage rates draw borrowers back to the market.

Mortgage Demand Rebounds
Lower rates mean more borrowers. More buyers. It says 2.8% RISE marketing. The first increase in weeks, the Mortgage Bankers Association (MBA measure mortgage demand climbed 2.8%.

Wow. This marks the first positive reading since January 21st, which has been a month, so there you go. And then refinance applications increased 7% compared to a week earlier, up 132% from the same week. A year before? Well, a year before, we were at 7%. So it kind of makes sense. Yep. That's pretty much it.

Experts see a busy spring housing market on the horizon. Guys, if you're thinking about selling your house in March, April, or May, which is our selling season, now is the time to get started. And if you are thinking about getting started or getting your house on the market, gimme a call, and we can get everything done.

I'm telling you, it's, there's no magic. Eight ball here. There's no crystal ball, but I think sellers are done waiting, and buyers are done waiting, and I think we're just gonna go back to a more normal market. You know, after six, eight months, six to eight months of crazy firestorm in 2021, and then the last few years backing back down to normal.

I think this is going to be a more normal year. So I think everything's getting back to normal. We're seeing rates at 5.5% after you buy a point down, and that's our parity point. That's what buyers have said, that they want five point a half percent. So they might be knocking out six points a quarter, 6.3%, but with points, you can drop it down to a nominal 5.5%, and that's what buyers want.

So if you're thinking about selling, this is the time to do it. I'm seeing a lot of houses come on the market, and I see a lot of buyers coming in right now. All right. 






PROBATE AND ESTATE SALES
Probate and Estate Sales
Probate and estate sales are always a thing. We've become very, very astute at this. We can meet at your house, depending on whether your parents are moving into an active adult community, Emory Center, or they've passed or what have you.

We have this down to a process. If you're interested in learning more, let me know. Happy to show you. 





House of the Week Picks
This is Cupertino House of the Week, 3.2 for no bedrooms, no bath, 2,394 square feet, and only seven pictures.  And it's on the freeway. $3 million for a house on the freeway.

Crazy right.

At least you get two baths out of it. Yeah. That's why 'cause they tore it apart. They probably lost their money, and they're just trying to get out of what they got in to it. And the problem is it's on a busy street. It's right off a busy street, so you live there. It doesn't matter if you're in Cupertino; you're still gonna hear crazy loud noises from the freeway, so there you go. That's your Cupertino House of the week. There's plenty more to look at, though. 


This is Willow Glen, house of the Week. Bird Ave. Two bedroom, two bath, 1500 square feet for one and a half million dollars. Crazy. It's a 5,000 square foot lot. Funny thing is, they're gonna get it because it's in Willow Glen and it's right there and it's well priced.
It's right by the tracks. You can still hear the freeway, and it's right over the flight path. So, you know, there you go. That's what you get for one and a half million dollars in Willow Glen. The link is down below if you want to take a look at it.






Luxury Listing Spotlight
And then Ralston Ave, Hillsborough, this is Luxury Home of the Week. This is amazing. $88 million. I talk about putting a line in the sand, right? Six bedrooms, seven and 10 half baths, just in case you know, you never know. 17 toilets to scrub every week, 12,000 square foot and 12 acres, and look at this gorgeous, gorgeous monstrosity of a house.

And it's limited by looking on the outside because they want their privacy, and I totally understand that. It's been on the market for how many days? Six days. The thing is, if you want to see this, you're gonna have to see it. Right? There you go. All right. 







How We Market Homes
Here comes our series about how to sell your house, what we do to market your house, right?

On top of getting your house ready to sell and managing projects and bringing in vendors and handyman and painters, et cetera. We also know how to market your house, and part of it is having a key demographic website, which is pretty much this. You get Matterport, you get the 2D floor plan, you get that they're actually doing this thing where we do kind of a drone video of the house surrounding it, but it's all done through maps, which is pretty cool. So it's kind of nice. And then you also have, you know, the 3D and all that stuff too.

The best part about it is that we give you. Instant updates on everything you want to know about that house. How many people have seen it, how many times it's been shown, you have instant access to your website metrics. On top of that, when you're in that area, your house comes up and shows as a sponsored house, too.

So you get a little more insight on it, and you get to see how many people liked it, how many people viewed it, so it's nice. It's nice to have. 








Inspection Checklist Download
And here's your home inspection checklist for the probate. That pre-inspection checklist is right here. Download it today. Start your honey-do list.

If you have questions on who to use as far as vetted vendors and contractors, let me know. Happy to help you. Our sales volume in Santa Clara County is 1.5 billion. It's the seventh week of the month. Pretty cool. San Mateo is rocking it at an average sales price of two and a half million dollars, or $2.8 million average sales price.
The median is 2.1, which means that there's a whole lot more selling down below, but there's a lot of very expensive homes being sold in San Mateo. And then if you want to learn more, it's all here for you to look at on my blog.

All right. 

Wrap Up and Thanks

That's it for now. Thanks for watching. I'm Beto with Abano. See you out there.

 

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Vito Scarnecchia
Real Estate Broker, Veteran, Dad
DRE#: 01407676
408-705-6817
Vitos@abitano.com
FREE DESKTOP APPRAISAL https://www.propertyrate.com/agent/vitoscarnecchia
If you are moving ANYWHERE in the world - Let me know! I know a LOT of AMAZING Agents!

đź”´ Willow Glen's five most expensive homes https://youtu.be/3A_E2ck0ePg
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