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> by Century">https://www.facebook.com/RickFunkRealtor">Century 21 Alpha Rick Funk.

Beautiful Santa Tersea Foothills

Recap of features:

· Upgraded through out from windows, kitchen, baths, floors & security system.

· 3 bedrooms & 2 baths.

· Gourmet kitchen with large garden view window.

· Newer Central Heating & Air conditioning.

· 2 car garage with roll up door and opener plus extra storage.

· 1,773 Sq. Ft. per builder & county records,

· Over sized 6,000 Sq. Ft. lot per county records, “S.F . not confirmed by agent.”

· Separate living, kitchen/dining/ family, areas.

· Located on one of the finest streets in Neighborhood & Santa Teresa Park.

· Asking price : $725,000“normal sale”

 

Staying in touch with the Real Estate trends is important.

 Home Owners Say They Want More Colorful Interiors: Home owners aren’t shying away from using more color in their homes. Nearly two-in-three home owners say they would like to add c...olor in their home, particularly in the living and family room, followed by bedroom and bathroom, according to the National Home Design and Color Survey by Sherwin-Williams, a survey of 1,450 home owners.

Seventy-five percent of the home owners surveyed say they believe a room or area needs paint.

What’s more, one in five home owners say they prefer a colorful paint palette, such as rich and dark or bold and bright.

The hottest hues?
One-third of home owners – or about 32 percent – say they prefer color palettes featuring warm neutrals with hints of red, yellow, or brown. Twenty-five percent prefer cool neutrals with hints of blues or greens.

The survey also found some differing color preferences among age groups. For example, home owners 18 to 34 years old tended to say they prefer rich and dark color palettes while those 65 and older tended to prefer soft, light palettes.

Call me, anytime with questions regarding the most recent trends that may effect the desirability and value of your home.

Rick Funk Century 21 Alpha (408)629-6099
WWW.RickFunk.com or C21Funk@aol.com See More

WOW! you guys are terrific! Over 1,200 LIKES on my Facebook page at Century 21 Alpha Rick Funk Thank you so Very!

Real Estate Information is always available through Century 21 Alpha Rick Funk with over 34 years and more than 3000 Real Estate transactions completed I will am please to be your information source.  C21Funk@aol.com or WWW.RickFunk.com or (408)629-6099

San Jose is pretty "walking distance friendly"

 When the Chicken Doesn't Dare Cross the Road: No matter where you live, sometimes it's nice to take a quick walk to the store or run an errand by foot on a nice day. One blog, however, says t...here are too many streets in the United States where that isn't possible.

Streetsblog, a site covering urban life, asked its readers to identify the worst streets in America to have to cross. After detailing a few of its own suggestions, where pedestrians in such common situations as wanting to get to a restaurant from a motel or snack while shopping had walks of nearly a mile and a half, readers suggested eight more streets from all over the country where wanting to get to the other side could be hazardous to your health.

One of the worst, Streetsblog says, is in Burlington, Mass., where crossing a street to get from a movie theater to a mall requires a 1.2-mile trip. Adding to the challenge: Only one side of the street has a sidewalk.

Also highlighted was a stretch of 2nd St. in Laurel, Md., that has bus stops but no crosswalks, forcing pedestrians to go more than half a mile out of their way. Nashville, Tenn., requires a similar distance of bus riders at Gallatin Pike and Williams Ave., who have to walk a quarter-mile south to Old Hickory Blvd. and back. And while crossing one part of Capitol Blvd. in Boise, Idaho, requires a diversion of only one-third of a mile, pedestrians must still cross 20 lanes of traffic.

Other poorly planned crossings include Kansas City, Mo., where an apartment complex straddling NW Vivion Road requires a one-mile trip; Phoenix's West Indian School Road, where crossing the street outside Phoenix Christian Elementary School means a half-mile detour; Big Beaver Road in Troy, Mich., with a half-mile detour; and Pleasantdale Road in Atlanta, where pedestrians must hike three-quarters of a mile.

Streetsblog writer Angie Schmitt noted that readers' nominations for uncrossable streets near limited-access highways were eliminated for being outside the scope of the competition but said one such street crossing required a seven-mile detour. Source: "A Crosswalk Too Far: Vote for the Least Crossable Street in America," Streetsblog (May 19, 2014

Rick Funk Century 21 Alpha (408)629-6099
C21Funk@aol.com
WWW.RickFunk.com

Toughest Markets for Renters to Become Home Owners:

 

First-time home buyers are facing tougher mortgage underwriting standards and tight inventories in the lower-priced home market, says National Association of REALTORS® President Steve Brow...n. It’s preventing some renters from purchasing homes, housing experts say. In some markets, renters are facing even more hurdles to reaching home ownership.

According to a recent analysis of 25 metro areas by SNL Real Estate, the following markets are proving to be the toughest markets for renters to break into home ownership.
1. San Diego-Carlsbad-San Marcos, Calif.
Median home price: $476,790
Renters eligible to buy out of every 100 housing units: 5.49
2. San Francisco-Oakland-Fremont, Calif.
Median home price: $682,410
Renters eligible to buy out of every 100 housing units: 5.7
3. Boston-Cambridge-Quincy, Mass.-N.H.
Median home price: $371,300
Renters eligible to buy out of every 100 housing units: 8.4
4. Miami-Fort Lauderdale-Pompano Beach, Fla.
Median home price: $254,900
Renters eligible to buy out of every 100 housing units: 10.21
5. Riverside-San Bernardino-Ontario, Calif.
Median home price: $263,600
Renters eligible to buy out of every 100 housing units: 10.23
6. Denver-Aurora-Broomfield, Colo.
Median home price: $279,300
Renters eligible to buy out of every 100 housing units: 10.39
7. Washington, D.C.-Arlington-Alexandria, Va.-Md.-W.Va.
Median home price: $368,000
Renters eligible to buy out of every 100 housing units: 10.79

Source: “Toughest Markets for Renters Looking to Buy,” The Wall Street Journal (May 7, 2014)

Having a Real Estate professional to help you through the shark infested waters of purchasing will help your odds. Call me today and let's get started.
Rick Funk Century 21 Alpha (408)629-6099 or C21Funk@aol.com
WWW.RickFunk.com

The last of the shadow inventory is being cleared from the bank ledgers.

 Bank Repos on the Rise in 26 States: RealtyTrac reports in its U.S. Foreclosure Market Report for April that foreclosure filings dropped 1 percent over the... previous month. Despite the decrease, bank repossessions rose 4 percent that same month.

The number of bank repossessions rose from the previous month in 26 states, and 16 states posted increases over the past year. The following states posted the largest year-over-year increases in bank repossessions:
• New York: +142% year-over-year
• Oregon: +91%
• New Jersey: +58%
• Illinois: +55%
• Indiana: +52%
• Maryland: +45%
• Connecticut: +44%
• California: +27%
• Nevada: +15%

“The rise in bank repossessions in many states is a sign that those markets are working through the final remnants of foreclosures left over from the recent housing crisis,” says Daren Blomquist, vice president at RealtyTrac. “Many of these bank-owned homes are bottom-of-the-barrel properties in terms of location or condition, but they will provide much-wanted inventory of homes for sale in some markets in the coming months. Investors and other buyers willing to do more extensive rehab will likely be best-suited for these upcoming REOs.” Source: RealtyTrac

For free list of "Tips for purchasing a foreclosed home" Call or write me today... Rick Funk at: C21Funk@aol.com or
(408)629-6099 WWW.RickFunk.com See More

What's HOT! & What's NOT! on your home buying list.

Survey Reveals What’s Hot and Not in Home Features: What are some of the most popular home features luring home buyers? The real estate brokerage Redfin surveyed 435 of its real estate professionals across the country to find out what the b...iggest real estate trends are with home features.

According to the survey, real estate professionals identified the following features as the most popular among home buyers:

• Open floor plans
• Move-in-ready homes
• Granite in areas such as bathrooms or kitchens
• Upgraded windows
• Locations near public transportation
• Energy-saving appliances
• Large closets
• Updated lighting fixtures
• Two-story home with a bedroom on the main floor
• Wood floors

The survey revealed the following home features are not popular with home buyers:

• Popcorn ceilings
• Carpet
• Lack of parking
• Small kitchens and bathrooms
• Minimal amount of natural light
• Dated homes
• Wallpaper
• Low ceilings
• Limited storage space
• Loud location on a busy street

Source: “Real Estate Trends: Redfin Agents Tell Us What’s HOT and What’s NOT,” Redfin Blog (May 13, 2014

Call Me, Rick Funk for a FREE buyer's worksheet to help you determine what's YOUR hot or not list for your new home.
(408)629-6099 or C21Funk@aol.com WWW.RickFunk.com

I am always looking for the latest updates in Mortgage financing to aid my buyers to qualify for their dream home.

 FHFA Unveils New Plans to Make Mortgages Easier to Obtain: Tight lending conditions have been blamed for hindering the hous...ing recovery, but a series of announcements by the Federal Housing Finance Agency on Tuesday could be the long-awaited easing that many sidelined borrowers had been hoping for.

The FHFA’s new director, Mel Watt, made several announcements Tuesday that departed from his predecessors and aim to maintain Fannie Mae and Freddie Mac’s role in the housing market as well as broaden home lending by the mortgage giants.

In one reversal, Watt said that Fannie Mae and Freddie Mac would keep current loan limits in place that the mortgage giants guarantee. The FHFA had planned to reduce the current limits on loans, which had set off an outcry in the housing industry that such a move could further hamper lending. Fannie Mae and Freddie Mac own or guarantee about 60 percent of mortgages in the United States. Last year, the FHFA had announced it was weighing a plan to gradually reduce the maximum loan amounts that Freddie Mac and Fannie Mae would be able to purchase for single-family mortgages. The FHFA wanted to reduce the current loan limits from $417,000 in most areas of the country and $625,500 in high-cost areas to $400,000 and $600,000, respectively, a reduction of 4.1 percent.

“This decision is motivated by concerns about how such a reduction could adversely impact the health and current housing finance market,” Watt said at an event at the Brookings Institution in Washington, D.C., on Tuesday, to keep current limits in place.

Watt also announced that the FHFA would ease standards that it provides to banks on buying back faulty loans. For example, lenders will now allow two delinquent payments in the first 36 months after their acquisition of a loan. The change is intended to increase mortgage lending. Many banks tightened credit standards, partially because of a requirement that they take losses if a borrower defaults.

“Our overriding objective is to ensure that there is broad liquidity in the housing finance market and to do so in a way that is safe and sound,” Watt said.

Fannie and Freddie remain under U.S. conservatorship, and lawmakers' efforts to reduce the GSEs’ footprint in the market in recent months in order to make room for more private lending have resulted in rising costs for government-backed loans.

"I don't think it's FHFA's role to contract the footprint of Fannie and Freddie," Watt said. Without proof that private investors will step in to fill the void, Watt said it “would be irresponsible” for Fannie Mae and Freddie Mac to retreat on lending.

Also on Tuesday, the Federal Housing Administration released plans to expand credit access for underserved borrowers through a pilot program called Homeowners Armed with Knowledge (or HAWK). Home buyers may be able to qualify for savings on their FHFA-insured loans by completing counseling provided by an independent nonprofit organization. Source: “U.S. Regulator Opens Door Wider for Americans on Mortgages,” Reuters (May 13, 2014); “U.S. Backs Off Tight Mortgage Rules,” The Wall Street Journal (May 13, 2014); and “A Major Lift for Fannie and Freddie,” The New York Times (May 13, 2014)

Rick Funk C21Funk@aol.com
(408)629-6099
WWW.RickFunk.com

 

 

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Century 21 Alpha Rick Funk

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Please click on the link below for information regarding my new Santa Teresa Foothill location!

http://rickfunk.c21-email.com/marketinglinks/28167F71

This may be your chance buyers that thought they waited too long to purchase their next or 1st home.

 Home Prices Show Signs of Cooling: The majority of metro areas in the first quarter continued to show price growth, but the gains are sma...ller than previous quarters, the National Association of REALTORS® says in its latest quarterly housing report.

Median existing single-family home prices rose in 74 percent of the 170 metro areas measured, based on closings in the first quarter compared with the first quarter of 2013. Twenty-two percent of the areas – or 37 – showed double-digit increases. For comparison, in the fourth quarter of 2013, 26 percent of metros had registered double-digit gains.

“The cooling rate of price growth is needed to preserve favorable housing affordability conditions in the future, but we still need more new-home construction to fully alleviate the inventory shortages in much of the country,” says Lawrence Yun, NAR’s chief economist. “Limited inventory is creating unsustainable and unhealthy price growth in some large markets, notably on the West Coast.”

The five most expensive housing markets in the first quarter were: San Jose, Calif., metro area, where the median existing single-family price was $808,000; San Francisco, $679,800; Honolulu, $672,300; Anaheim-Santa Ana, Calif., $669,800; and San Diego, $483,000.

Meanwhile, the five lowest-cost metro areas were: Youngstown-Warren-Boardman, Ohio, with a median single-family home price of $64,600 in the first quarter; Decatur, Ill., $69,600; Toledo, Ohio, $72,100; Rockford, Ill., $73,100; and Cumberland, Md., $81,400.

Overall, the national median existing single-family home price was $191,600 in the first quarter, up 8.6 percent from $176,400 in the first quarter of 2013, NAR reports.

At the end of the first quarter, inventories of for-sale homes did show some growth. There were 1.99 million existing homes available for sale at the end of the first quarter -- 3.1 percent higher than year-ago levels. The average supply during the quarter was five months. A supply of six to seven months is considered a healthy balance for the market. Source: National Association of REALTORS®

Rick Funk C21Funk@aol.com
(408)629-6099 WWW.RickFunk.com

 

 

New beautiful home in Santa Teresa Neighborhood.

Click on the link below for details please.

http://rickfunk.c21-email.com/Boomerang/WebPost.flx?userID=4jE36vY+OfS4LXD9rDn2uwWvjxzX9pFgwePOM6jJALk=&storeID=19640442&domainID=5

Home Owners take note: Realtors want to help you with, "getting your home ready to sell" But are held to a higher standard.

Agents and property improvements – when repairs require a contractors license
It’s common for an agent to coordinate repairs on behalf of the owner when listing property for sale or lease. Agents who order or oversee maintenance or repair projects costing $500 or more are considered consultants, and subject to contractor licensing requirements issued by the California Department of Consumer Affairs Contractors State Licensing Board (CSLB).
Recent legislation
In 2013, contractor licensing requirements were expanded to require licensure for consultants to a home improvement contract. A consultant now includes any person who: provides or oversees a bid for a construction project; or arranges, schedules and oversees contractors and subcontractors in the completion of a construction project. [Business & Professions Code §7026.1(a)]
Included specifically are projects calling for repairing, remodeling, altering or modernizing residential property. [Bus & P C §7151]
Prior to 2013, a consultant was a person who, in a maintenance or repair project, did not undertake to “construct” anything. Thus, the person merely facilitating the cleanup, repair or maintenance of a property with contractors on behalf of the owner did not need to hold a contractors license. [The Fifth Day, LLC v. Bolotin (2009) 172 CA4th 939]
Today, the contractors license law requires real estate licensees and property managers who act as consultants to have a contractors license if the cost of the work involved totals $500 or more.
Call or write me anytime for a FREE, no hassle list and recommendations on how to prepare your home to sell fast and for the highest price!
Rick Funk C21Funk@aol.com or (408)629-6099
WWW.RickFunk.com

 

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Luxury Home Sales Soar Above Historical Average:

 Affluent buyers are feeling bullish about housing, as luxury home sales skyrocket, Bloomberg reports. Million-dollar homes in the U.S. are selling at double their historical average, accord...ing to data released by the National Association of REALTORS®.

Sales of homes that cost $1 million or more increased 7.8 percent in March compared to a year earlier. Meanwhile, sales of homes that cost $250,000 or less — which represent about two-thirds of the housing market — dropped 12 percent in March year-over-year.

“The real estate market is the ultimate reflection of confidence, wealth, and income,” says Sam Khater, deputy chief economist at CoreLogic.

Transactions for homes costing $2 million or more soared 33 percent in January and February compared to a year earlier, according to an analysis by DataQuick of 25 of the top U.S. metro areas. The transactions were the highest for a two-month period since DataQuick began its tracking in 1988.

“The luxury markets are on fire,” Christie's International CEO Bonnie Stone Sellers told Bloomberg. “The trends in luxury housing are similar to trends in other luxury goods. Whether you’re buying a third home in Manhattan as a pied-a-terre or another Picasso, these are acquisitions of passion, of lifestyle, and of experience.”

There have been some blockbuster sales recently. The latest to grab headlines was the $147 million sale of an East Hampton’s property, which now carries the title as the priciest home sale ever in the U.S. This came two weeks after the sale of a single-family home in Greenwich, Conn., known as Copper Beech Farm shattered home records at the time at $120 million.

“The stock market is very strong, and this is a way to monetize and concretize some gains,” says Gary Wasserman, CEO of Allied Metals Corp., who is looking to boost his personal real estate portfolio. “We had quite a shock to our collective confidence in 2008 and 2009. The resurgence of the economy has underscored for us that this country remains a very strong place, and that the future remains strong.” Source: “Million-Dollar Home Sales Thrive While Low End Stumbles,” Bloomberg Businessweek (May 2, 2014)

With 34 years of intense Real Estate Practice invested in the Santa Clara County, There is no one better to Sell or help you purchase your Luxury Home here in our Valley! Call me today, Rick Funk
C21Funk@aol.com or (408)629-6099 WWW.RickFunk.com See More

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