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

Santa Clara Condos/Townhomes Flying off the Shelves

Santa Clara Condos/Townhomes Flying off the Shelves.  Can you believe it – Last year there were 97 active condos/townhomes in Santa Clara.  This year there are just 42!  That is a 57% reduction from last year.

Pending sales in the last 30 days for the same group (condos/townhomes) were 36 and closed sales in January were 19.  How much change is there really from last year?  The pending sales were up 44% over last year’s figure and closed sales – Hold onto your hat – were up 380%. Continue reading

Where have all the listings gone?

Victorian Single Family Home
Victorian Single Family Home (Photo credit: dlichaw)

Say – Where have all the listings gone?  The inventory for active listings in Santa Clara County has dropped to 2007 units!  That’s 1482 single family homes  and 525 condos/townhomes. I don’t know if you felt that reduction in listings but these numbers are down 41% from last year’s figures. Continue reading

Santa Clara County – 3rd Quarter Real Estate Stats

There’s no doubt many homeowners in Santa Clara County are suffering but we are lucky to be located in an area where we have a better real estate market than most.  The number of listings for Santa Clara County is down.  Down almost 34% over last year!

In this area, the percentage of active distressed single family homes is 29% and for townhomes/condos it is higher at 46% (combined it is 30.6%).  Just to give you an idea Phoenix closed sales were 62% distressed properties!

Guidelines for lending have changed dramatically and they now account for many of the home sales that are not completing.

The need for a knowledgeable Realtor is more important than in past years.  The possible pitfalls to the sale or purchase of a home can be navigated around with a Realtor who has on the ground experience in this market and markets of years past.

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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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HAFA short sale approvals are not created equal

I had the experience recently on a property with a HAFA short sale approval in place. My client put in his offer and within 72 hours we had the short sale lender approval! FAST. The seller’s loan, by the way, was through Wells Fargo. 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

Different spaces create different value

A bedroom in an AIMCO apartment home
Image via Wikipedia

Different spaces create different value.

While on a real estate home tour this week I had the opportunity to consider how some homeowners’ ideas of a good addition are flawed.

Take the boxy looking home that has a bedroom on the other side of a bedroom. The original bedroom becomes a pass through to the new 2nd bedroom.  Are you kidding me???  What was the owner smoking?  The best thing for the space might be a woman’s walk-in closet!  All the cost of that added room was best used for a closet or storage area. Continue reading

Things that turn buyers off of a short sale in San Jose

checklist
Image by alancleaver_2000 via Flickr

 

There a many things that can turn a buyer off to a short sale.  I would love for you to add your comments. 

  • Gross dirty kitchens and bathrooms
  • Doors closed to the bedrooms – especially when other family members are in the house
  • Bedding on the couch
  • People lying or sleeping in bed
  • Light fixtures stripped from the home
  • Seller staying in the house while showing.

This really applied to all sales but really even more with a short sale as you need a buyer willing to wait for an approval for the seller’s lender(s).   Think about it would you be more willing to wait that time for an awesome property or a dump? 

Out of 6 short sales recently viewed by my clients only two looked like the sellers cared for the home.  Those were the ones that caught their attention.  That being said the staged owner occupied home really make it difficult to even consider the headache of a short sale.

What are things you see as a buyer you don’t like when in a short sale property?

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