Santa Clara County’s Active Real Estate Inventory is Miniscule

silverlake small frontWe have the lowest active inventory since 2006 when I started tracking local statistics.  The total of active single family homes, townhomes and condos was just 555 on January 2nd!  That is in a County with over 1.9 million people!  No wonder prices have been steadily increasing.   Last year was also low with 20 more than this year.  To give you some perspective – in 2008 there were more than 6000 listings. 

The number of active single family homes was 449 and condos/townhomes were 106. The number of active homes is about 45% lower than last month.

The number of homes and townhomes/condos that went into contract in December was 760. It was made up of 546 single family homes and 214 condos/ townhomes. The pending sales were down about 34% from November, due to the lack of inventory. 

December saw more closings than in November.  November was the first month that felt the effect of the new lending requirements rolled out in October.   The number of closed sales in December was 1133 (816 were single family homes and 317 were condo/ townhomes).  The closed sales were up 13% from last month and up 15% from last year’s figure. Find out more market conditions in specific areas in Santa Clara County.

What does this mean to you? If you are a buyer, you need to be ultra prepared and have a knowledgeable Realtor to guide you. As a seller, you can reap the rewards of this good market. How much your home sells for can be very improved with proper guidance on how to prep and market your home.

I am daily in the trenches with real estate. I have been through 31 years of ups and downs in Real Estate.

Understanding your options both in Real Estate and lending is critical now as guidelines have changed making the real estate market fluid. Want to know your options? Call me!

For more information on this local market, go to my website – Pat@PatChadwell.com 

Pat Chadwell,
Broker, CRS, ePro, SRES, CDPE, CIAS, SFR.
I have 31 years helping clients with their Real Estate needs.

Lowest Priced Home Sold in Almaden Valley – $98,000

$98,000 for a home in Almaden Valley? Absurd right?

No, I did not leave off a zero in that number.  That home had one very big functional problem which would require an all cash offer.

A tree fell on it.  Or I guess through it…

You have another crazy home sale?  Tell me about it.

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Tour home of the week in Almaden Valley

Wow!  Nice home – tour home of the week in Almaden Valley

The home at 6542 Crystal Springs just exuded charm and sophistication.  Bathrooms abound throughout the home.  The master bedroom was generous in size.  They had 3 big closets of which one was for shoes!  A woman’s paradise.  But the best part was the wine cellar/party room.  This space was made for a guy – you could just go in and spend hours there. 

Great job to the owners of this home.

Almaden Elementary Schools the Best San Jose has to offer

I just looked at www.greatschools.net  to see the top 5 elementary schools in the San Jose Unified School District. Four of them were in Almaden Valley.

Bravo to the teachers and kids in these schools. Williams, Simonds and Graystone all rated in the top 10 percentile with API scores of 972, 968, and 958 respectively. Los Alamitos is in the 90th percentile on the site with 916 API score.

These top 3 schools rank right along with Cupertino Elementary schools.

Pat Chadwell
Realty World – Residential Specialists
www.patchadwell.com

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Gotta be a hard sell – Tree fell on house

Just came across an interesting listing in Almaden.  “Home” for sale – Tree fell on it.  That has gotta be a hard sell.  How many buyers would have the ability to take that one on? 

 

I could see some less than honest agent trying to lessen the problem with marketing – Needs some TLC.  Fixer upper in great area.   Historical home needs some updating.  Rustic mountain home nestles amongst the trees.

 

Hope this one gets a very capable new owner and soon.  Good luck Jackie! 

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Tale of two bank owned properties in Almaden Valley

Almaden Valley, the area that has the best schools that San Jose has to offer.   While out previewing properties recently a fellow Realtor and I stumbled upon two properties that were bank owned in this quiet community.

 The curb appeal of both was okay.  Anticipating that both were going to be equally as “okay” we were surprised by what we saw. 

 The first one was priced at one of the lowest list prices for the area so I was excited to see it.  The prior owners had removed doors, faucets, etc.  While this did not strike me as odd what did strike me as not very smart was the home was not even really cleaned up or prepped for sale.  Mound of dogs hairs were in the corners of the floor for instance. There was no spit-n-shine applied to this home.  I look to the real estate agents that list such a home as owing a responsibility not only to the lender/owner they represent but also to the community to try to prep it to garner a higher sales price.  That sales price will have an impact on the neighborhood. 

We arrive at home #2 – listed in the high $800K range.  Nice younger home from the exterior, nice location on a cul-de-sac BUT… The first thing we see is a gross dirty carpet in the living room and in the attached dining room were animal feces on the carpet. YIKES! Now that was pretty disgusting.  How much would it have cost to clean up the droppings and do a deep cleaning of the carpet?  A couple of hundred dollars?  Instead the neighborhood will be a proud recipient of low sale for the area. 

Tale of two bank owned properties in Almaden Valley – What do you think?

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