Seniors are moving less

Seniors have been moving less.

Often the biggest source of retirement funds for seniors is the equity in their homes and reduction in equity was significant in the last few years for many.  I find some seniors are waiting to recoup the money they “lost” (which could be a long time depending on the location of the home). Continue reading

If we had double the inventory we could have easily done double the sales

The real estate market in Santa Clara County has been HOT!!   We have a very low inventory of only 1659 homes and condos/townhomes.   Investors, first time buyers and move up buyers and sellers are out in full force. I recently had an open house with 125 attendees in 3 hours and this was on a blustery day. The rapid change really started in the last 2 months.

So here is the Sales Statistics Update Report. Remember we have a population of 1.8 Million people.  Continue reading

Silicon Valley Real Estate is HOT!

Sizzle (album)

As of March 31, 2012 active listings in Santa Clara County are a scant 1671.  That is right just 1671 houses, condos and townhomes in the entire county.  What is the population of that area?  1.7 Million!

The breakdown of that number is – single family homes, 1320 and condo/townhomes, 351. These numbers were down 52% from last year’s figure!

The number of homes and townhome/condos that went into contract over the last 30 days was 2041 (single family – 1476, condo/townhome – 565). This figure was slightly less than last year.

Just a note if we had the inventory we would have sold a lot more homes!  Many areas are seeing multiple offers on properties.  In the low end housing there are up to 30 offers.  Mid-range is seeing 5+ depending on area.  The Peninsula is HOT.

The number of closed sales in March were 1324 (918 were single family homes and 406 were condo/ townhomes). The closed sales are even with last year.

Home prices in the area are close to the lowest they have been and interest rates on mortgages are really low. Now might be your time to check out the Real Estate market.

Make it a great week!

Pat Chadwell, broker
Certified Real Estate Specialist
Realty World – Residential Specialists
408-927-6565 x 11 (direct)
www.patchadwell.com

Enhanced by Zemanta

Foreclosure ratings by San Jose zip codes

This graphic gives you a perspective on # of new foreclosures  in San Jose by zip code (as of 01/12).

<"“>
Interesting to see the differences by zip.  What have you seen?

Pat Chadwell, broker
Realty World – Residential Specialists
408-927-6565 x 11
http://www.patchadwell.com
CRS, SRES, CDPE, CIAS, ePro, SFR

Sunnyvale has a bright future

English: Two booths at Farmers market in Sunny...
Image via Wikipedia

I wanted to start with the condo/townhome properties in Sunnyvale.  The stats are really impressive.  The number of condos/townhomes on the market is only 17, with pending sales for the last 30 days at 33 and closed sales in February were 21. From last year the active listings are down 72% and closed sales are up 30%!  These are great statistics. Continue reading

Blossom Valley is in bloom – Sales are bursting forth

Yes – Blossom Valley is in bloom and Real Estate sales are bursting forth.

Double-flowered Cherry Blossoms

The number of listings is down by a whopping 57% from last year!    There are currently 63 active listings in Blossom Valley ranging in price from $240,000-$1,995,000. The current median list price is $505,000.  Look at these numbers – Last year there were 148 active listings. And the median price was $485,000. Continue reading

Cambrian condos/townhomes are the stars!

Cambrian condos/townhomes are the stars!  The number of condos/ townhomes for the Cambrian area of San Jose is just 19 actives.  This is a huge reduction in inventory from last year’s 35!

There were 13 pending sales in the last 30 days and 13 closed condos/townhomes in January.  Pending plus closed sales are way up!  In fact last year there were only 2 closed sales of condos/townhomes in the area for January.  These are good signs of the real estate marketing returning to San Jose. Continue reading

August closed sales for Santa Clara County were up 18% from last year’s figures!

Location in the state of California
Image via Wikipedia

August closed sales for Santa Clara County were up 18% from last year’s figures!

The August active listings in Santa Clara County were 3289, of that the single family homes were 2438 and condos/ townhomes were 851. These numbers were down 28% from the 8/31/10 figures. This is significantly different than last year. Continue reading

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?

Enhanced by Zemanta

Spotlight on Almaden Valley

Bar Graph

 

There were 19 closed sales in February in Almaden Valley. The number of active homes is 77, with pending sales at 23 in the last 30 days.

The number of listings in Almaden has really escalated – up a whopping 36% over last month. We need to remember the listings are down 30% over last year. I had a home on the market last year at this time and without most jumbo loan products it was a huge problem for this affluent area of San Jose. Another plus is closed sales are up 90% over last year. Continue reading