Sunnyvale Real Estate home prices continue to increase...

Median price of a home in California at $561,350 in March, up 13 percent from year ago; sales decrease 15.1 percent

The median price of an existing single-family home in California increased 13 percent in March and sales decreased 15.1 percent compared with the same period a year ago, California Association of Realtors (C.A.R.) recently reported. "March is the month in which we typically see the market gear up for peak season activity, and this year is no exception," said C.A.R. President Vince Malta. "Seasonally adjusted statewide sales increased 4.9 percent compared with February and the statewide median rose 4.8 percent compared with the prior month. This is very similar to March 2005, when sales rose 4.4 percent month-to-month and the median price registered a 5.5 percent increase."

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Low income potential home buyers...If you don't qualify please pass this on to some who might. This list doesn't open very often and only for three more days.

Section 8 Housing Waiting list to OpenThe County of Santa Clara Housing Authority (HACSC) will be opening its waiting list for the Section 8 Housing Choice Voucher Program, Project-based Assistance Program and Moderate Rehabilitation Program. The waiting list will be open for five days only from April 24 through April 28.
Visit the HACSC web site for details: click here

Mortgage Rates hit 4-year High!
The 30-year fixed is now higher than it was at the end of July 2002, when the benchmark rate was 6.48 percent. The last time the 30-year fixed had been above 6.5 percent was the week of July 17, 2002, when the benchmark rate was 6.54 percent.
Rates fell after that, leading to the refinance boom of 2003 and early 2004. Now that boom has been muted. According to the Mortgage Bankers Association, just 36.6 percent of mortgage applications last week were from homeowners who wanted to refinance their loans. That's the lowest share of refinance activity since late July 2004.

TownCenter Update: Sunnyvale Mall project pending approval for Phase 2

No it's not just the continuous rainy weather slowing things down on this project...

The Forum Development Group completed demolition of the parking deck along Mathilda Ave. on schedule before the holiday season. A temporary parking lot has been opened on Washington Ave. west of Macy's. Both Macy's and Target remain open for business.
The second and final demolition phase, involving the old J.C. Penney building and all of the old mall between Macy's and Target, has been delayed pending final approval of the plan by Macy's and Target.
The Forum Development Group is currently working with Target and Macy's headquarters to finalize the demolition timeline of Phase 2. Once an agreement is reached, the City of Sunnyvale will be able to issue the demolition permit. This process is expected to be completed and demolition resumed by mid-April 2006

Sand Hill sells Cupertino Village for $65 million
Cupertino Village, a popular Asian-focused shopping center in Cupertino, bordering the City of Sunnyvale at Wolfe & Homestead roads. Kimco Realty Corp., which is based in New York, bought the shopping center from Sand Hill Property. The open-air shopping center is known for its many Asian shops and restaurants, including the large Asian grocery store, 99 Ranch Market, and the Joy Luck Place Restaurant.
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