Real Estate Market News

by Michael Roberts on November 30, 2011

Wow!   Is this News?  National Home Sale figures showed an 11% increase in October compared to last year. This was based on homes for sale where a purchase contract was signed in September.  I have listed real estate statistics for San Jose and a couple of other areas below.  Note that home sales statistics are typically 60 days behind the reporting date.  This is due to the  time it takes to close an escrow which is currentlyaround 45 days.

San Jose- The median sales price for homes in San Jose CA for Aug 11 to Oct 11 was $390,200 based on over 2,600 home sales. Compared to the same period one year ago, the median home sales price decreased 3.1% and the number of home sales decreased 9%. The “average price per square foot” for San Jose CA was $354, an increase of 20.4% compared to last year.  The average listing price forhomes for sale in San Jose CAwas $522,715 for the week ending Nov 23, which represents an increase of 0.3%, or $1,536, compared to the prior week.

Cupertino-  95 homes sales were reported from Aug to October with a median sales price of $900,000. Cupertino CA price per square foot for was $582, an increase of 5.1% compared to the same period last year. Compared to the same period one year ago, the median home sales price decreased 4.3%, or $40,500, and the number of home sales decreased 30.1%.  The average listing price for homes for sale in Cupertino CA was $1,180,127 for the week ending Nov 23, which represents an increase of 1.7%. A small increase from last week.

Los Gatos-  Compared to the same period one year ago, the median home sales price for Los Gatos Homes decreased 0.1%, or $1,000, and the number of home sales decreased 18.2%.  The average price per square foot for Los Gatos CA was way down at $487, a decrease of 11.5% compared to last year. The median sales price for homes in Los Gatos CA for Aug 11 to Oct 11 was $899,000 based on 135 home sales.  The average listing price for homes for sale in Los Gatos CA was $1,832,949 for the week ending Nov 23, which represents a decrease of 1.7% compared to last week.

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30 year Mortgage Now Below 4%

by Michael Roberts on October 6, 2011

Homebuyers are saving money with buyer rebatesGreat news if you are in the midst of shopping for a house for sale in San Jose or surrounding area with homes for sale, for instance Los Gatos and Cambrian area have several hundred homes for sale that need a good buyer bump.

These rates are far below what we have become accustomed to over the last several years and we all should naturally expect an improved housing market.  Right?  Will it improve our Real Estate Market?  I will come back to that question in a moment.

Another question might be-  “How can I take advantage of these low mortgage rates?”.   If you currently own a home now may be the best opportunity of refinancing to lower your payment.   You, as a potential home buyer, might want to snatch up a bargain and get a super low mortgage rate.  I suggest you start shopping for a mortgage approval from a reputable source, first, and then visit homes for sale that meet your price range.  Now, about that housing market question…

Will this help the housing market recover?   Professor Sam Chandon from the University of Pennsylvania’s Wharton school of business said on FOX news this morning  “…this will not help the suffering housing market it is just a reactionary adjustment to the bond market…”  I am glad someone agrees with me!

This means we can expect the same market we have had for the last couple of years.  One that seems to waver from ‘doing better’ to ‘no measurable increase’ to ‘small price reduction’.   Basically, a wide range of neighborhood specific market indicators.   Seems to me…. location, location, location is still the best way to judge your local area housing market.

However, I do believe homes sellers in San Jose and homeowners in all of the surrounding areas that have homes for sale in Los Gatos, Cambrian, Willow Glen, Blossom Valley etc… should expect a small surge in traffic for the next week or two.

Buyers aren’t stupid and will take advantage of these rates for the near term.   Overall a small window opened up and smart buyers and sellers will find a way to gain an advantage.    It’s free to talk so, talk to your Realtor and get their opinion.

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Best Halloween Events and Neighborhoods to Trick or Treat

09.30.2011

2011 Halloween events, trick or treat locations, Halloween Safety Tips and Halloween Costume store info can be found here. If you would like to add an event or location to this list please comment below and they will certainly get lots of new ghouls visiting.  I will add a link if you can provide the [...]

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What are Buyer’s Closing Costs?

09.12.2011

Home Buyer closing costs are often overlooked by buyers until the final phases of the purchase contract are being executed. There are consequences if you overlook how they affect your home buying plans. Buying a home is not quite as simple as just applying for a loan and writing an offer and moving your belongings.   [...]

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The Art of the Open House

08.27.2011

I don’t know how many hours I have spent preparing Los Gatos buyer packages, uploading internet marketing and providing guidance to the Seller in anticipation of the “magic” Open House.  Only to show up and find the Seller forgot to do everything that they so eagerly agreed to do after reading “the 26 sellers mistakes” [...]

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Have You Met Us Yet?

07.02.2011

This quick video gives you a look into where Realty World dominates the home buying and selling market. Get your FREE consultation Schedule your FREE no obligation Real Estate Consultation by clicking here

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Los Gatos Summer Camp Sign Up QUICK!

06.17.2011

Check out the exciting programs we have in store for you and your family this SUMMER! Summer Brochure Vasona Boating 55Plus Newsletter Summer Camps for Kids Create-A-Camp Wk 1 Jun. 20-24 Create-A-Camp Wk 2 Jul. 25-29 Create-A-Camp Wk 3 Aug. 1-5 Create-A-Camp Wk 4 Aug. 8-12 Catpaws Camps Adventure Day Camp Boating Camps Youth Programs Tennis, Gymnastics, Lacrosse, [...]

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Did Los Gatos Skip Spring?

06.10.2011

Did you miss Spring?  Spring in Los Gatos is the best.  I noticed there are fewer homes in Los Gatos with spring flowers.  I know Summer is upon us, however I missed Spring, somehow.   The odd weather last week felt like November and this week feels more like, I don’t know…Spring.  The only real clue [...]

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Time to Plan: Los Gatos Summer Activities

05.18.2011

Well, Summer is right around the corner!   What are you going to do with the kids?   We can all expect to tell them to wake up and get out of  bed or remind them to pick up their rooms, right?    The usual, “clean your room and take out the garbage”  instructions, that I give before [...]

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Blossom Valley Neighborhood Highlights

04.15.2011

See how others rate the local businesses and services around your Blossom Valley Neighborhood!   Blossom Valley Grocery Stores, Blossom Valley Restaurants, Blossom Valley entertainment…You name it!

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