Wednesday, April 1, 2009

April Real Estate Update

Market Summary

It has been a turbulent time in the real estate market for every single one of us across the nation, but there could be small signs of relief. It has been a tough market for the last year and especially in the month of October. Many folks are nervous about the economy, job security and the overall situation at hand. On the real estate front I am seeing some better news to report.

In the last few weeks and there has been an uptick in buying activity; agents in my office are writing offers as well as many of my clients. A client of mine put an offer on a house that was relisted and to our surprise the home sold at list price in a very short period of time. Another investment property for a separate client had 5 offers, all of which were countered. Investors and a contingent of Buyers seem to be cautiously seeking out deals in the market place. Homes under $500,000 have been seeing competition even multiple offers and I am seeing some activity in ranges higher than $500,000 as well. These are faint indications and hardly any sign of a grand recovery. The next few months can help us gauge if this is a trend or just an outlier. If you have been on the sidelines, now maybe the time to start thinking about taking advantage of good properties in the marketplace.

An interesting article on rising home sales in February in the New York Times:

By chance I was at my local bank and walked over to ask what the mortgage rates were for the day. In my career I have never seen my bank have rates even comparable to what my loan agents find in the marketplace. To my surprise the rate that was being offered was extremely low. Mortgage rates are at their lowest ever recorded by Freddie Mac and Fannie Mae and it shows! Call your loan agent, call a few banks and go with whichever group has the best rate for a refinance or purchase.

An interesting article in the Mercury News that these are the lowest rates every recorded:

New Loan Breakdowns

It used to be that anything above $417,000 was considered a jumbo (and below is a conforming loan). Today there is an intermediate loan product called a jumbo conforming which handles loans between $417,000 to $729,750 which still has decent rates. Any loan amount above $729,750 is considered a jumbo loan and rates are much higher than either conforming or jumbo conforming products. Second loans are pretty much no longer in existence, the model of private mortgage insurance has returned. For those of you who have a 1st loan you do not plan to refinance, some good advice given to me was to take out an equity line of credit (while in a good job situation) which has low rates currently for emergency situations.
Check with your loan agent, accountant and financial advisor to ensure this strategy makes sense for your circumstance.

Reminder Property Tax is Due April 10th

Just a reminder that property tax in Santa Clara County is due on April 10th! There will be a penalty if you pay past this date. Go to or call the County of Santa Clara at (408)808-7900.

Beware of Mortgage Foreclosure Consultants

There are legitimate Mortgage Foreclosure Consultants out there, but there have also been many fraudulent companies in these tough times. Mortgage consultants are not allowed to collect any upfront fees until services are fully rendered; this is the first and most common indication that this is a questionable company.

Long Term Investments

It is critically important to step away from the short run and focus on the long run. Any investment should be a long term investment. We have seen time and time again that the economy is cyclical but trends tend to be overall upward in the long run. Position your real estate property for the long run and ride through this turbulent time. If you have an opportunity to do so, it maybe time to buy a property at this low point, so that you can take advantage of the upside once it returns.

If you or someone you know needs Real Estate help, I will do all that I can in my power to assist them.


Anonymous said...


We have just added your latest post "Alan Wang's Real Estate Blogger: April Real Estate Update" to our Directory of Foreclosure. You can check the inclusion of the post here . We are delighted to invite you to submit all your future posts to the directory and get a huge base of visitors to your website.

Warm Regards Team

Unknown said...

great work man this is a great post you have good research and you make a great article it help people

Alan Wang said...

Thanks Tampa Realtor!

HomeMegaManagement said...

Nice blog. Get all information about real estate. Visit real estate Queens NY to book your new home.

Unknown said...

Such a nice information, i really impressed from your blogger article about the real estate
thanks for beautiful article sharing with us.

Chirst said... is a website that organizes and publishes real estate content thoughtfully to make it much quicker for you to find the information you want, when you want it. Besides, Homeia also specializes in digital marketing for real estate businesses, including home builders, realtors, and property managers. So, if you are realtors, just list your profile on Homeia for free and get your potential clients.

Unknown said...

great work man i would like to congratulate you on this effort Real Estate Tampa

Unknown said...
This comment has been removed by the author.
Unknown said...

Thanks for sharing your wonderful thoughts here. If you are interested to Selling Your Portland Home, visit

Evelyn said...

This post is very useful for us. Because we have a lot o tips and tricks from this post. Thank you for this amazing post share. website

Kathy said...

Great work!
Web reference: things to consider when buying a house

Unknown said...

Good to know about this. If you are looking for Real Estate Virtual Staging Software,then you can contact whynothomes for more details.

realty davao said...

this is amazing, you've got enough information to help people Houses, condos and lots, Davao Real Estate Properties

David Nu said...

Great work man i would like to congratulate you on this effort. Such a great and valuable information you have shared, i'm really impressed from your blog post about the real estate. I want to say thank you for beautiful article sharing with us. I will share this with Professional Real Estate Management Firm in Plantation.

Unknown said...

Thanks for sharing such a nice information. Amazing post. For More Information Visit Here: Tim Elsea

Kathy said...

Thank you Dan. love an inefficient market.
See more

stevensandgoldwyn said...

This post is really helpful thanks for sharing it. The real estate lawyer who provides the renowned litigation law firm to their clients so that they can able to pay taxes on time.

sell my house in cape coral fl said...

We are a professional house buying company that buys houses fast in Fort Myers. We pay cash for homes, which makes the entire process simple and quick.
Check out

Shane Adva said...

This is really helpful. Also for other construction company selection tips, you might be interested in visit masonry contractors queens ny. These helps us a lot.

Danielgeoff said...

Very informative article you've shared with us. Thanks for publishing such a nice article. Find RCI timeshare resales for resorts visit san antonio pools

prestigesteelbuildings said...

Very informative article. I think there should be an article regarding supply & installation of prefabricated metal buildings like Steel buildings

jhon said...

Corbett's housing legacy was not as a pile 'em high, sell 'em cheap house builder. He saw good housing as a keystone to a better society. Although less dramatic, his estates are as socially innovative within the housing movement as the rather better promoted "model villages" of entrepreneurs, such as Lever , Buy house in Calgary

Kathy said...

Web refercen:

Sophia Fine Jewelry said...

Located in Lake Worth, Florida, J&M Contractors of South Florida Inc. Roofing Division are your expert roofing contractors with a hybrid of experience and knowledge in the roofing industry, our team members have been serving Palm Beach County, Broward County and Martin County for over 30 Years.

West Palm Beach Roof Repairs

Ajay said...

This post is really worth for me and I love the way the information you actually gave which will is very informative for persons like me who are fond of this.
Color Homes Poonamallee Review
Color Homes Perumbakkam Review
Color Homes Builders Review
Color Homes Kanchi Pattinam Review

Edward Siam said...

Real estate industry is growing really fast. There are many technological advancements in this industry. Recently I have read a blog on Real Estate Virtual Assistant and was amazed to know how it can help you to grow your business with their account management and marketing services.

Lakefront Properties of Maine said...

Your content is very informative and well described. If you want to a buy best lakefront properties in Maine, please visit us

Mst Samsunnahar Nahar said...

Thanks for sharing great information. Keep it up!

Rodney Wollman

London Mart said...

Thank you for your submission this blog is very helpful.If you looking for some good investment oppurtunity than i have
london mart 7702770770

vancouverrealestateonline said...

Firstly we would like to thank you before commenting your marvelous and very useful blog. Get all the information about the real estate in just a one click vancouver property for sale

Jaynie Mae Baker said...

Usually I never statement on blogs but your blog is so realistic that I never stop myself to say about it. You’re doing a great job, Keep it up.Thanks for sharing this blog to enhance our knowledge.
Jaynie Mae Baker

SEO said...

Kalai said...

You have made your points in a smart way. I am impressed with how interesting you have been able to present this content. Thanks for sharing a nice information. Do support us
Builders in Chennai
Properties in Chennai
New flats for sale in Chennai
Luxury Flats in Chennai
Apartments in Chennai

vancouverrealestateonline said...

Admiring the time and effort you put into your blog and detailed information you offer. Search real estate property records for sale, houses, condos, land and more with Multiple Listing Service® (MLS®) database with For more visit here multiple listing homes for sale

Very Old Website said...

Great work man i would like to congratulate you on this effort

Archi CGI said...

Great post

Michaeladvaa said...

This is a great blog that explains the importance of hiring Realty Group Real Estate lawyers. You can help us to hire personal injury lawyer San Antonio for more information.

Sa divorce said...

This is a great blog that is dedicated to all about Real Estate. You can opt for Child custody law firm for a wide range of services.

Get Appraisal said...

Nice article, which you have described very well about the Real estate. Your article is very useful for those who are looking to property valuation service. thanks for sharing. real estate value estimates

gopi said...

Firstly I would like to thank you before commenting on your marvelous and very useful blog.
Get all the information about the real estate in just a one click @
flats in chennai
Flats For Sale in Avadi
Flats for sale near avadi
apartments for sale in avadi
apartments for sale near avadi
apartments in chennai
flats for sales near me
flats for sales in chennai

Worth Realty Team said...

Such a wonderful article shared by you. Thanks for sharing this kind of stuff. Check out the Market Report generated by expert realtors to check out the current property trends in just a one click new hope homes for sale

vancouverrealestateonline said...

I absolutely respect and acknowledge your point on each and every subject. Keep up the great work. You can opt for professional and high quality real estate listing websites Vancouver for more information.

Stallings Law Firm said...

Your blog provided us with valuable information. Thanks for sharing the information. is one of the leading professional attorney's firms where you get professional lawyers. For more Montgomery divorce law firm

William Jessie said...

Nice article, Which you have shared here about the Real Estate. Your article is very informative and useful to know more about the latest updates of Real Estate market. Thank you for sharing this article here. Sell My Home Las Vegas Nevada

Real Estate Paperwork said...

This is a great article that is dedicated to all about Realtor and Clients also. Thanks for sharing with us.
Transaction Coordinators can take care of your real estate transaction paperwork so you can get out there and market your properties.Twin Cities TC.

Rosalina said...

Just what is turbulence, and how is it made? Are there different intensities of turbulence? Can we avoid it? Many people don't really know just what turbulence is, or how it's caused, so here we're going to take a more detailed look at some of these questions.. I find a very good blog for the property price trend London, If you want you can visit this site.

Laura Bush said...

i am glad that i am satisfied about buying process of home and i would like to thanks to the teams of house buyer Austin

Mike Masonbridge said...

Great points there, thanks. And here is the relevant article, maybe someone will find it useful too


Hello Everyone ,
I am new here in this community.I am working BC HOME GROUP. we are best servics provid for this company.
townhouses for sale victoria bc
buy house victoria bc
new condos for sale victoria bc
victoria new condos for sale

DFS Services said...

Hi Everybody
I am new here this community. I like your article. I am working for DFS Services. we are best service provide.
thank you

intruder alarm system
security systems
alarm systems
security alarm system

DFS Services said...

Hi Everybody
I am new here this community. I like your article. I am working for DFS Services. we are best service provide.
thank you
intruder alarm system
security systems
alarm systems
security alarm system

Mike Masonbridge said...

Great points there, thanks. And here is the relevant article, maybe someone will find it useful too

Unknown said...

This blog is helpful and informative with its content on Real estate business, I appreciate the level of research you did. Thanks for sharing.

Eli Mashieh said...

I am Eli Mashieh, I am a real estate agent, In this post information you share is very interesting and useful, I am glad to read this post. Thank you for sharing such an informative post.


Hello every one
I am new here for this group.
Study mbbs in southeast university china for indian students easy now. Get detail of scholarship, fee structure, world ranking, grading, review, hostel
Top Medical University in China
Mbbs in China
Nanjing Medical University
Southeast University

theshorelinecondo said...

Thanks for sharing the best information and suggestions, I love your content, and they are very nice and very useful to us. If you are looking for the best Lakeside Property Texas,then The Shoreline Condominium.I appreciate the work you have put into this.