Things are improving...

It is hard to keep some perspective on the market nationwide, as we keep our eyes on the ball here in the Silicon Valley. While multiple offers rule here and buyers have a hard time finding, then purchasing a home, it is good to keep things in perspective and look at the big picture.
The market is still struggling, and shaky in some areas.

IMPROVEMENT – As of 9/30/12, 1 out of every 8.5 home mortgages (11.7%) in the USA are either delinquent or are in the foreclosure process. Compared with: 12/31/2009, when 1 out of every 6.7 home mortgages (15.0%) in the USA was either delinquent or was in the foreclosure process (source: MBA Mortgage Bankers Association).

While keeping things in perspective, let us remember too that about 1/3 of all houses in the US are owned free and clear:

According to the National Association of Realtors "Economists' Outlook blog":

Nationally, about 32 percent of homes were owned outright—without a mortgage. This varies from state to state. West Virginia has the highest share of homes owned outright, just 2 percent shy of half. This contrasts with California, Colorado, Maryland, DC, and Nevada where less than a quarter of owner-occupied homes were owned outright.

Thank you for reading!

Francis

Silicon Valley Real Estate

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Coldwell Banker invites you to warm and brighten the spirits of those in our community this holiday season by supporting One Warm Coat, a coat drive that collects and distributes warm coats to the less fortunate in our local community during the cold winter months.

Our office is accepting donations of new or gently used coats for One Warm Coat now until December 14.
To make a donation or for more information, please contact me today.