7.27.09 New Home Sales Rise

The news of the day- new home sales rose 11% in June, the largest increase in 8 years. Buyers are taking advantage of lower home prices, low interest rates, and the federal tax credits available to first-time homebuyers. The window of opportunity for this tax credit closes in November, so first-time buyers are flooding the market during the popular summer housing season. Summer is the most convenient time for many families to think about moving. The opinion of some economists is that the worst of the housing recession is behind us.

7.9.09 Intero CEO's Opinion on Market Recovery

Check out the Intero Insider Real Estate Blog. The latest post by CEO of Intero, Gino Blefari, gives his opinion as a veteran of the local real estate industry on how soon and in what way a market recovery will occur in the Bay Area.
Intero, my brokerage, and Coldwell Banker, my sister and mother's brokerage, hold the number 1 and 2 positions, respectively, for market share in Santa Clara County. This gives us, the Tse Group, tremendous leverage in our ability to network and market your property in order to receive top dollar. Call us today. (408)863-3089.

7.8.09 Spike in Foreclosures Expected

Due to the government's efforts to stabilize the national housing market, a backlog of foreclosures was created while a moratorium went into effect in order to stabilize housing prices. At this point, many banks are done sorting through homes in foreclosure to help those eligible for a loan modification. Those homes in foreclosure that cannot be re-worked into a new loan will begin to be acted on in the coming months. It remains to be seen how big of a negative impact this will have on the housing market. Read more here.

7.2.09 Obama 'Making Home Affordable' Plan Expands

President Obama has made changes to his initiative to help troubled homeowners by expanding who is eligible to refinance their mortgage into a more affordable loan. For the specifics on the new measures in the Making Home Affordable plan, read here.