The banking industry is very optimistic with continued home price appreciation as we begin 2013. One thing is for certain limited inventory has created multiple offers and upward pressure on housing values in Santa Clara County. If you are wanting to purchase a property now is not the time to sit on the sidelines. Interest rates are extremely attractive and while the market is competitive, you can purchase a home and have monthly payments close to or less than most rental rates in the valley. Call me and make 2013 Your Year of Home Ownership!
“Home-price forecasts for 2013 are on the rise. J.P. Morgan Chase & Co. expects U.S. home prices to rise 3.4% in its base-case estimate and up to 9.7% in its most bullish scenario of economic growth. Standard & Poor’s, which rates private-issue mortgage bonds, on Friday said it expects a 5% rise in 2013.”