On the Mortgage front...Overnight real estate interest rates inch up.
30-year fixed rate at 5.77%; 10-year Treasury yield at 4.67%

Long-term mortgage interest rates rose slightly Friday, and the benchmark 10-year Treasury bond yield stayed at 4.67 percent.
The 30-year fixed-rate average gained to 5.77 percent, and the 15-year fixed rate was up at 5.51 percent. The 1-year adjustable dipped to 5.33 percent.
The 30-year Treasury bond yield increased to 4.85 percent.

Mortgage rate figures are according to Bankrate.com, which publishes nightly averages based on its survey of 4,000 banks in 50 states. Points on these mortgages range from zero to 3.5.

In other economic news, the Dow Jones Industrial Average jumped 153.35 points, or 1.2 percent, finishing at 12,961.98. The Nasdaq was up 21.04 points, or 0.84 percent, closing at 2,526.39.

Contact Mark Thomason for any Silicon Valley Real Estate or Mortgage questions or comments... Mark Thomason : 408.850.3085 or Mark@ThomasonTeam.com
Your Sunnyvale Real Estate Realtor at 1% Full Service!
Asante Real Estate Group
Sunnyvale, Saratoga & the Silicon Valley Real Estate Expert!

Sunnyvale Residents Extra Curbside Garbage Pick-Up...

During the Sunnyvale Extra Garbage Pick-Up, Specialty Solid Waste & Recycling provides curbside pick-up of extra debris and garbage for Sunnyvale residents in single-family, duplex, triplex, and mobile homes, including those Sunnyvale customers with Baseline service. Just place debris neatly out at the curb the evening before or by 6:00 a.m. on the morning of your regularly scheduled collection day. Please do not put any of your curbside material on top of your Sunnyvale water meter boxes.
Each Sunnyvale resident will have four days on which to place additional discards at curbside. See the 2007 Calendar of Events for Sunnyvale's upcoming Extra Garbage Pick-Up dates. Note: Sunnyvale Drivers will start collection at 6:00 a.m. during Extra Garbage Pick-Up instead of the usual 7:00 a.m. Larger items will be picked up by a separate truck on your regularly scheduled pick-up day.

Contact Mark Thomason for any Sunnyvale Real Estate questions or comments...
Mark Thomason : 408.850.3085 or Mark@ThomasonTeam.com

A Tax Law* that all homeowners should know...

*Please note that I'm not a tax consultant or tax advisor and you should consult a CPA or Tax Attorney to verify any of the information that I'm providing here.

You don't have to live in your property for the 2-year minimum out of the last 5-years to get a TAX FREE gain of up to $250K (single) & $500K (married) on your equity!

If you must move out (see tax statute list below) of your home after only 1-year of living in the property you could still qualify for 50% of the tax free equity. This is based on the percentage of time that this was your primary residence divided into the 2-year minimum.
Every competent tax preparer should understand the partial exemption of IRC 121(c). However, to qualify there must be a valid reason for the home sale after less than 24 months of owner-occupancy.
The tax statute lists (1) health reasons, (2) job location change qualifying for the moving-cost tax deduction (the new job site must be 50 miles further from old home than was old job site), and (3) unforeseen circumstances, such as divorce, unemployment, multiple births from the same pregnancy, inability to pay the mortgage, etc.
IRS regulations spell out the details. The 2007 "CCH Master Tax Guide" and "J.K. Lasser's Your Income Tax" have excellent explanations.

This could be a very valuable tax law for any homeowner to understand. Please pass this on to your friends.

Again, please contact a CPA or Tax Attorney to verify any information that I have provided.

Good Luck! Mark