ExpectationsAlthough some properties are not selling within 10 days, many Silicon Valley homes listed for sale do go pending a week to ten days later with multiple offers.  Of those which sell quickly, pending sale prices are often far above the list price; we are seeing 10% overbids often, and sometimes 25% or more, in select cases.

Unfortunately, Bay Area many home buyers’ expectations have not yet caught up to the reality of the overheated market and are shocked that a great “full price offer” may well be the worst of the contracts presented.

What’s causing this to happen?

First, there’s a very dire shortage of homes to buy.  That can create a buying frenzy all by itself in an area where people are well employed and want to put down roots.

Second, the listed prices are placed strategically low to attract multiple offers.  If you were to look at the list price as opposed to the comps’ sale prices, you’d see that homes are not listed where they should sell, but often about 5% below that amount in many cases (sometimes more than 10% lower, though).

It is extremely important to realize that the list price may have little to do with the eventual purchase price.  Study the comps and then assume a trajectory.  If homes are going up at the rate of $10,000 per month for the type of home you like, then when you bid, consider the sale price 30 days out – or more – and then you may hit the target.

  1. 4 beds, 3 full baths
    Home size: 2,443 sq ft
    Lot size: 8,015 sqft
  2. 4 beds, 2 full, 1 half baths
    Home size: 2,240 sq ft
    Lot size: 8,058 sqft
  3. 2 beds, 2 full baths
    Home size: 1,124 sq ft
    Lot size: 2,265 sqft
  4. 3 beds, 2 full, 1 half baths
    Home size: 1,672 sq ft
    Lot size: 1,437 sqft
  5. 5 beds, 3 full, 1 half baths
    Home size: 3,290 sq ft
    Lot size: 7,013 sqft
  6. 4 beds, 2 full, 1 half baths
    Home size: 2,815 sq ft
    Lot size: 20,473 sqft
  7. 6 beds, 5 full, 1 half baths
    Home size: 5,744 sq ft
    Lot size: 1.04 ac
  8. $1,798,000 : 1072 Micro, SAN JOSE
    4 beds, 3 full baths
    Home size: 3,522 sq ft
    Lot size: 9,191 sqft
  9. 4 beds, 3 full, 1 half baths
    Home size: 2,491 sq ft
    Lot size: 8,058 sqft
  10. 4 beds, 2 full baths
    Home size: 1,754 sq ft
    Lot size: 8,668 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 4/25/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

Translation

by Transposh - translation plugin for wordpress
Mary Pope-Handy
Realtor
ABR, CIPS, CRS, SRES
Sereno Group Real Estate
214 Los Gatos-Saratoga Rd
Los Gatos, CA 95030
408 204-7673
Mary (at) PopeHandy.com
License# 01153805


Selling homes in
Silicon Valley:
Santa Clara County,
San Mateo County, and
Santa Cruz County.
:
Special focus on:
San Jose, Los Gatos,
Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
Let’s Connect
Find Mary on FacebookFollow Mary on Twitter
RSS FeedFollow Mary on YouTube

Please see more icons
at the bottom of the page.

The real estate search
Use the widget below to browse properties which are for sale, under contract (pending) or sold. Want to view only homes which are available now? Use the "find a home" link on the menu above (next to the "home" button).
Mary’s other sites & blogs
Valley Of Hearts Delight
Santa Clara County Real Estate,
with an interest in history

Move2SiliconValley.com
Silicon Valley relocation info

popehandy.com
Silicon Valley real estate,
focus on home selling

Silicon Valley Real Estate Report
Silicon Valley real estate
market trends & statistics
Mary’s Blog Awards
Top 25 real estate blogs 2016
2016: Personal Income's list of top 25 real estate blogs.


Best Realtor blog award
2016: Coastal Group OC's list of best Realtor blogs


The 2009 Sellsius list of top 12 women real estate bloggers
2009: Sellsius list of top
12 women real estate bloggers


Mary Pope-Handy's Live in Los Gatos blog won the 2007 Project Blogger contest, sponsored by Inman News and Active Rain

2007: Mary Pope-Handy and Frances Flynn Thorsen win the Project Blogger Contest for Mary's Live in Los Gatos blog. The contest was sponsored by
Active Rain and Inman News.


Non blog award


Best real estate agent in Silicon Valley from the San Jose Mercury News poll of readers in 2011
"Best real estate agent
in Silicon Valley"

2011 readers' poll,
San Jose Mercury News

Categories
Site Statistics
  • Users online: 2 
  • Visitors today : 692
  • Page views today : 1,579