jerryzangrealtor.com

After dec 15th, lender will request all borrower’s DTI are lower than 45%, and higher credit scores. Eventhough many major banks are requirung 45% DTI today, but many smaller mortgage lenders are still accepting the DTI as high as up to 60% in current days. Yet it will change in shortly. In which means some borrowers need put much more down to get loan. It will keep some buyers out of market.

The listing agent just resposed me that they did have over 25 offers, and a cash offer is over at least 5% of asking price. At few weeks earlier, another short sale in this area had over 35 offers. My client added almost 10% up from asking price, but we even had no chance to counter. At the same time, national date shows the housing market had a big sale in last month. In Santa Clara County, there are still many buyers. Yet there are not many listings. My clinet avalage needs send over 15 offers to buy one.

Per San Jose Mercury News that only less than 2100 houses were sold in October in Santa Clara county. The sale value was increased 6.3% compared with last year October. I felt very prod of my job. I have closed 3 escrows in October. I’ve seen my hard efforts to have some return.

2022 Sagewood LN San Jose AC 95132. A short Sale that has put on the market for few days only. Listhing agent informed me that there are 35 offers. My client’s offer was out even though we put over 10% up from asking price. There are still so many buyers on the market.Yet there is only few listings.