Great New Jumbo Rates from B of A
Bank of America recently announced some unbelievable deals in jumbo loan financing. Remember those? Non conforming loans over the Freddie and Fannie backed limits. Well, you can now get 80% financing for jumbos with B of A as well as back end ratios around 50%. You need good credit scores (over 720) and decent reserves (rumored to be six months) But rates are good in the 5s. These are definitely worth checking out if you have wanted to move into a nice community but have had a problem with the higher down payment some banks are requiring. Of course as soon as I print this it will be outdated. So, talk to B of A directly. But it looks like at least one bank is finally putting that TARP money to good use for something that can actually benefit us here in Silicon Valley.
Important Sales in Silicon Valley Last Week
Houses are selling in Silicon Valley. Houses at entry price points and houses at the very high end have had an increase in activity as measured by sale pendings last week. We know about the sub-prime neighborhoods in East San Jose and South County being bought by people who recognize the value there. But for me, most notable are the four high-end homes that went under contract last week in Los Altos Hills. Los Altos Hills has been one of the slowest high end markets around and the floodgates just broke open. One new home that went on the market for just under $10M sold in less than two weeks. Another one listed for just under $7M that had been on the market a while recently sold. And two more hovering around the $4M mark also went under contract in Los Altos Hills. Enter Saratoga. Glen Una, the platinum triangle, the epicenter of high end Saratoga real estate. A house there last week in the $7Ms just went under contract as well. What do these Silicon Valley executives who are buying these properties know that we don’t? Seems it could be confidence in Silicon Valley. Have we who live and thrive in this fast paced valley ever not recovered in a downturn? Look at the cycles we have been through. Chip cycles. Workstation cycles. Internet cycles. We always make it through and reinvent ourselves. This will be no different. These executives know this.
Carmel Charm Near Los Altos Village
483 Paco Drive, Los Altos CA
OFFERED AT $1,495,000
Stroll to the Village and the local neighborhood school from this quintessesntial Los Altos family neighborhood. The picket fence and divided light windows offer an idea of the charm that awaits you inside. The light-infused 4bed/2ba embodies all of the character of an esteemed Carmel cottage but with ample space of over 2,250SF+/- for your active family. A serene and private master suite exudes peace and calm. Enjoy the outdoor bliss I the wonderful garden or in poolside repose. Includes numerous amenities, dual-pane windows, numerous skylights, A/C, newer appliances, generously proportioned rooms, fireplaces, bay windows, separate pool/play house. 2-car garage. Award-winning Los Altos schools.
Visit the Property Website for more information
Live The Good Life
1927 Fallen Leaf Lane, Los Altos
I have just listed this beautiful home in Los Altos. Be sure to visit the property web site for more info.
Take a great neighborhood, one where you can walk next door to borrow a cup of sugar and no one will think anything of it. Add an incredibly spacious yard with room to store a boat and an RV for those weekend adventures. Mix in 4 bedrooms, two full bathrooms and a large living area capable of supporting the entire soccer team from the award-winning neighborhood school where your kids go, and you have all the ingredients for a wonderful life. This is Los Altos, with Cupertino schools and a gorgeous, single-level home that has been completely remodeled. All you need to do is turn the key and move right in. Over 2,500SF on a large lot of more than 10,000SF+/-. Life doesn’t get much better than this.
About Me
Connie Miller
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Contact Me. I can help.
Email or phone 650-279-7074