About Santa Clara County, CA

What is happening in the mortgage market? Because there is a lot of purchasing activity mainly due to the $8000 tax credit, many people think the Real Estate industry has turned around and there is much debate that the economy as a whole is turning around, painting a nice and rosy future for us.

But there are a couple of scheduled activities happening in the next couple of months which will affect the industry and more specifically, purchasing behavior of homebuyers in the coming months and into the busy summer months.

Everyone is aware that the Tax Credit will expire after April 30, 2010. If you are not in contract by then, you cannot get the free money.

What is more ominous, however, is that the Fed has announced it will scale back and stop buying the allotted $1.25 Trillion in mortgage backed securities (which has allowed interest rates to remain low) by the end of March 2010. The prospect of the Fed stopping the purchase had rattled some in the market place and saw interest rates move up in anticipation of such a move. Some speculated an increase of up to 1% in interest rate after the Fed winds down its activity, while others speculated that the Fed would continue to buy beyond March. A sudden spike in mortgate rates will certainly put the brakes on the road to real estate recovery.

Apparently, the worries in the market place has reached the ears of the right people in higher up places and some of them have openly hinted at a continuation of the purchase program if the general economy is to be severely affected or the interest rates spiked upwards after March.

So what have we learned with certainty about what the Fed is going to do next: nothing.

The government is uncertain as to the potential impact the real estate market could have on the general economy, hence, although they have announced they are going to stop buying mortgage backed securities, they are hedging their bets…….just in case.

YES, there will be Nia on Presidents' Day, Monday, Feb. 15, 2010!

If you have the day off of work and you want to give Nia a try, c'mon over.

Nia is the kind of work out that leaves you feeling energized and happy, so it is a great way to spend a morning off from work. A great way to start you week.

Nia is a cardio workout. We typically do it in barefeet, but if you want to wear shoes you are welcome to. We move to a variety of music doing kicks, punches, side steps, cha-cha-chas, and more. You can't do it wrong as long as you are moving so come give it a try.

Mondays and Wednesdays at 9:00 am in Willow Glen.

Class is an hour.

For questions visit http://www.HelpYouWell.com or e-mail Terre Pruitt at terre@HelpYouWell.com or call Terre at 408-564-2649.


1062 Lincoln Avenue
San Jose, CA 95125

Bring a mat, towel, and water.

Meeting with four contractors next week to enlighten them on the benefits of the 203k program. The steamlined "k" is exceptionally good for a contractor with limited funds. The contractor get half of the money up front to purchase materials, finishes the project then gets a second and final draw payment.These projects are limited repair projects and will not exceed $35,000 in rehab... actually about $30,000 as this must include costs and fees. Great for a smaller contractor or someone just getting into the market.

If you are well healed and can carry a little on the job then you could tackle the larger projects. We have done several that exceeded $100,000 and a few that exceeded $250,000. I have one in New York by a friend of mine that is over $330,000 in renovation costs.

Since the loan limits in many areas is $729,750 for a single family residential property and over $1.4MM on a fourplex is it any wonder contractors are flocking to this program?

Some of the contractors I'm talking with next week are wanting to become consultants. This is fantastic as we need more "qualified consultants" in the program. IN addition it is a great way for them to finance their other work. We show you how. M

I just attended my first "all Spanish" or about 98% Spanish 203k seminar. There were about 75-80 people in attendance, lucky for me many of them were bilingual. I was introduced as the consultant and asked to say a few words... in Spanish, then Ricardo laughed and told me that most of them could understand me... wow. I hadn't felt the "hot seat" on this product in such a long time. I'll ask him for a copy of the power point presentation for my web site in case any of you might need to provide a seminar in Spanish.

Great group and they all wanted my cards and made me feel quite comfortable. I already have the 203k basics on my web site in Spanish in case you need something right now... it is part of the old HUD Spanish version of the "rehab a home with the 203k" pamphlet. M

These are the NEW open houses for Cupertino this weekend, Feb 6/7, 2010:

• 5548 Oak Park Dr, 4 bd/3 bth, $1,138,000
• 10535 Orange Tree Ln, 4 bd/3 bth, $1,098,000
• 7855 Festival Dr, 3 bd/2 bth, $1,038,000
• 1065 Happy Valley Ave, 3 bd/2 bth, $769,800
• 5091 Doyle Rd, 3 bd/2 bth, $735,000
• 1008 Strayer Dr, 2 bd/2 bth, $688,000 (walking distance primary, middle, and Lynbrook High!)

These are the NEW open houses for Sunnyvale this weekend, Feb 6/7, 2010:

• 1419 Prince Edward Way, 4 bd/3 bth, $1,249,000
• 811 Wilmington Terrace, 4 bd/2bth, $1,224,000
• 1285 Pome Ave, 5 bd/3 bth, $1,189,950
• 1161 Regalia Ct, 4 bd/2 bth, $918,000
• 1360 Road Runner Terrace #B, 3 bd/2 1/2 bth, $665,000
• 935 La Mesa Terrace #A, 3 bd/2 1/2 bth, $599,950
• 678 S Garland Terrace, 3 bd/2 1/2 bth, $549,000