"Inventory" is Down

We think you will be interested in this article from the Wall Street Journal on the condition of real estate "inventory" in California. Then it occurred to us that you might be interested in the definition of inventory, so we looked it up. Here's a nice, concise definition:

The amount of time it would take to sell all current listings at the current sales pace if no new listings became available. Normally measured in months (i.e. there's currently 8 months of inventory available).
This definition of Inventory Level contributed by finecoastalliving, through the site called Real Estate Forums.

And now for the story...

What's it like in Gilroy? Very competitive, when properties are priced right. Pricing is the key. It always has been and it always will be.

Government Exiting, Strategically, from the Mortgage Markets

“For more than a year, the government pulled out the stops to revive home buying by driving down mortgage rates. Now, whether the housing market is ready or not, the government is pulling out.” So says The Washington Post in an article.


Some say the government action to pull out is too soon, others say the pull out is the plan, and good for the economy. Read the full story here.

2010 - What Will It Bring?

Nobody ever knows for sure, but experience and longevity help with predictions of what's to come. Intero CEO Gino Blefari shared some of his predictions for 2010 this week and we thought you might be interested in what he has to say. Read Gino's predictions here.

A Friday Night in Gilroy

Gilroy Apartment for Rent

On-Demand Property Information - At Your Fingertips!

Check it out: Intero's new and exclusive CoolApp/text solution (video compliments of John Thompson Intero's Executive Vice President) - Text INTERO to 59559 and get on-demand instant property information on every property available for sale in the Bay Area via MLSListings - Fast & FREE.

Happy New Year!

Merry Christmas

FHA Changes Borrower Guidelines

There are new and more stringent qualifications for today's most popular lending program, FHA. The new guidelines require borrowers to have more money down, higher qualifying credit scores, and lower debt-to-income ratios. Intero's CEO, Gino, goes over the details.

This Week's Realty Times Report

There continues to be good news in real estate, both nationally and locally. Our experience is that when residential real estate goes on the market in Gilroy and the surrounding areas, and is priced right, it sells. Checking in with Realty Times this morning, the national report reflects the same condition.

Realty Times reports that Lawrence Yun, NAR chief economist, said the tax credit is a significant factor. "We can't underestimate just how powerful a catalyst the first-time home buyer tax credit has been for the housing sector," he said. "It's given buyers the confidence they needed to get off the fence and take advantage of extremely affordable housing conditions. The buying conditions this year are the most favorable on record dating back to 1970, but the tax credit is allowing buyers to set aside any reservations about waiting for a better deal."

See what else Realty Times is reporting.