condos

The Santa Clara Women's Club http://www.santaclarawomansclub.org/

The Santa Clara Women’s Club (old adobe house)
http://www.santaclarawomansclub.org/

The real estate market in the city of Santa Clara, like the rest of Silicon Valley, is a strong sellers market still. Below there are charts for the activities over the last few months. Low inventory from the past year and continuous low inventory around the rest of the Valley means there is still a much greater demand to fill than properties available. This is clear in the sales price vs list price, which has risen to 107.5%, but has generally remained around 103% for months. Also, the speed of market turnover (how long a house is on the market) has remained low as far back as we can see on these charts and in under a month. Further in the article, we’ll check in on the condo market, too.

Here’s a glance at the single family home statistics and trends for closings and listings for last month – updated each month on about the 5th – 10th on my RE Report site for realty stats & trends in Santa Clara:

How’s the Saratoga California real estate market?

Orchard and Hills in Saratoga, California

Orchard and Hills in Saratoga, California

This is a fairly comprehensive article on the Saratoga real estate market that will include the live statistics from Altos Research for listed properties (not closed) in Saratoga CA 95070, the closed sale data from the RE Report for last month in Saratoga 95070, and the numbers I crunched for Saratoga – overall and by price point and high school district, since Saratoga has 3 different high school districts, each with an impact on home values.

First, let’s consider the months of inventory by price point and high school district that I crunched using MLSListings.com, our local multiple listing service provider.

The months of inventory is a reference to how fast homes would be absorbed into the market if sales continued at the same pace and no new inventory came onto the market. It’s often referred to as “the absorption rate” – and that can be months of inventory, weeks of inventory, or days of inventory. A “balanced” market is somewhere around 4-5 months for us, though the National Association of Realtors says that 6 months is balanced nationwide. Anything under 3 is a good seller’s market, and under 1 is like saying that homes are “flying off the market.”

(For comparison, please also see a similar article on the Live in Los Gatos blog for the town of Los Gatos – real estate market by price point and high school district.)

Here’s the chart for Saratoga – all price points, all school districts.

And for comparison, here’s the chart from last month:

This month shows steady, low inventory with increasing sales, creating a higher MOI. Despite winter cooling, the market just won’t let up, and an overall 2.375 MOI is still a sellers market. By comparing across school districts you can see how different each area’s individual market can be. The overall MOI for different schools this month ranges from 1.8 to 2.778. Small levels of inventory can create big data swings like, and can make for not the most accurate charts. Nonetheless, we can still spot market trends if we know where to look.

 

Continue reading

How is the Campbell real estate market?How is the Campbell real estate market? Here are the numbers, but what do those numbers mean? The sales vs list price remains over 100% and the average days on market are low at 29 days. Campbell is still in a seller’s market, despite a general cooling.

Further down in this article, we’ll utilize the graphs from Altos Research, which uses list prices, and check out the trends in pricing by quartile in this zip code (meaning 4 groups based on the pricing tier from least to most expensive). Campbell condominiums and townhomes will be considered as well. And finally, a list of homes for sale in Campbell will be found at the bottom of the post.

First, here are some quick stats, care of my RE Report for Campbell:

What about the Campbell CA condo market?

Continue reading

Willow Glen in San JoseWillow Glen is perhaps the most charming residential area of the city of San Jose with its old style architecture, tree lined streets and quaint downtown area on Lincoln Avenue and nearby. For folks working in downtown San Jose, the Willow Glen area (roughly the same as 95125 zip code, though a bit of 95124 is included also) is extremely convenient. Inventory hasn’t improved since last year, and homes continually sell close to list price quickly, in just over a month. Willow Glen remains in a sellers market.

Click for the complete Willow Glen real estate report with all of the numbers, stats and trends from the closed sales of houses for last month. Further down in this article you’ll find the Altos Research charts as well.

Willow Glen Stats At A Glance

Year-Over-Year

  • Median home prices fell by 5.6% year-over-year to $1,175,000 from $1,245,000.
  • The average home sales price dropped by 4.2% year-over-year to $1,250,760 from $1,305,670.
  • Home sales rose by 39.4% year-over-year to 46 from 33.
  • Active listings fell 14.9% year-over-year to 74 from 87.
  • Sales price vs. list price ratio fell by 0.1% year-over-year to 102.2% from 102.3%.
  • The average days on market rose by 0.3% year-over-year to 29 from 29.

Compared To Last Month

  • Median home prices slipped by 0.2% to $1,175,000 from $1,177,250.
  • The average home sales price fell by 2% to $1,250,760 from $1,276,250.
  • Home sales up by 64.3% to 46 from 28.
  • Active listings increased 7.2% to 74 from 69.
  • Sales price vs. list price ratio increased by 2.2% to 102.2% from 100.0%.
  • The average days on market dropped by 23% to 29 from 38.

A little cooling won’t take us out of a deep sellers market, but it should ease conditions slightly for long-term buyers.

And next, of Willow Glen condos:

Continue reading

Bel Estos Drive near Carlton and Rosswood in San Jose's Cambrian areaMy Cambrian area of San Jose Real Estate Report was recently published with the updated numbers from the closed sales last month for this part of San Jose (95124 and 95118 with a little of 95008 too). Please click on the link above to see much more information there.

In this district of San Jose, we have been experiencing dreadfully low inventory of homes for sale, and buyers aren’t backing off as much as usual for this time of year – I believe because there is just a whole lot of pent up demand from nearly two years of a deep seller’s market. What does that mean? Sellers, if you have a problem home, or one not updated or well maintained, this is the time to sell it – buyers have little to choose from so are purchasing properties that need more work than they would bother with in a more balanced market.

Want to learn more about Cambrian Park real estate, the Cambrian district, Cambrian neighborhoods, school districts and zip codes? Please also see this article: Cambrian Park: Good Schools, Low Crime, Close to Los Gatos and Campbell

Be sure to read to the end to see the live Altos charts too – they are near the end of the article so please keep reading into the next page!

Cambrian area sales at a glance:

Year-Over-Year

  • Median home prices increased by 7.2% year-over-year to $1,080,000 from $1,007,500.
  • The average home sales price rose by 1.8% year-over-year to $1,093,360 from $1,073,590.
  • Home sales rose by 27.3% year-over-year to 28 from 22.
  • Active listings fell 15.7% year-over-year to 59 from 70.
  • Sales price vs. list price ratio rose by 0.2% year-over-year to 106.9% from 106.6%.
  • The average days on market rose by 59.0% year-over-year to 19 from 12.

Compared To Last Month

  • Median home prices improved by 13.1% to $1,080,000 from $955,000.
  • The average home sales price rose by 7.7% to $1,093,360 from $1,015,240.
  • Home sales up by 33.3% to 28 from 21.
  • Active listings increased 31.1% to 59 from 45.
  • Sales price vs. list price ratio increased by 4.8% to 106.9% from 102.0%.
  • The average days on market dropped by 37.6% to 19 from 30.

Generally speaking it is still a hot seller’s market and great time to sell a Cambrian home.

 Please see the whole Cambrian Real Estate Report for charts, stats and more.

The condo and townhouse real estate market for San Jose 95124 & 95118

Damaged wood sidingWood siding is extremely common in the San Jose area and Silicon Valley as a whole, both on condominiums & townhouses and also on houses.  (We do not see a lot of vinyl siding here, as we might in other parts of the country.) Water is the #1 enemy of houses – even more than termites!  It is necessary to control water intruding into the wood, because if it gets in, fungus and rot can get a start on your home.

How do you prevent  water damage, fungus, and dry rot on wood siding?

Exterior wood needs to be painted about every five years or it can crack, peel, and otherwise allow moisture intrusion. If the wood is kept sealed, it can do very well against water. Another big cause of expensive wood repairs outdoors is earth to wood contact.  If you have ever built a fence, or had one made for you, you’ve probably seen that the best practice is to put the wooden posts into concrete rather than directly into the dirt.  The reason is simple: soil gets damp and the wood will wick up the moisture, whether it’s fence boards, posts, part of a wooden deck, or the siding on your home.  If the siding or other wood comes near the soil, the recommendation is to separate them one way or the other. In the photo I’ve included with this article, the siding of this townhome complex was allowed to touch the earth.  You can see the results: expensive repairs needed! The old saying goes that “an ounce of prevention is worth a pound of curse”.  It’s especially true with caring for wood siding and other times of wood on the outside of your home or in your yard.   If you can remember to do a walk-around every few months, at least twice a year, you are more likely to find the beginnings of issues before they become thousands of dollars.  Keep a schedule for painting and make sure you do it before it looks like it’s needed.  If you wait until there’s chipping and cracking, you may already have trouble!  Watch for earth to wood contact, and rake away the soil or take other measures to protect your siding. This is true for owners of townhomes too.  It seems like decades ago, home owner associations were often responsible for siding, but in the last few years I’ve been finding more and more HOAs make that the owner’s responsibility, even if the HOA is in charge of the painting schedule.    Make sure that you have a look at your siding regularly so that you can stop fungus and dry rot in their tracks and prevent a small headache from becoming extremely costly. Finally, it’s a good idea to have a pest inspection (termite inspection) every 3 to 5 years to nip any issues in the bud. Related reading: What Is Cellulose Debris (in a pest or termite report)?

  1. 8 beds, 7 full, 1 half baths
    Home size: 6,299 sq ft
    Lot size: 20,386 sqft
  2. 3 beds, 2 full baths
    Home size: 1,670 sq ft
    Lot size: 8,450 sqft
  3. 3 beds, 2 full baths
    Home size: 1,155 sq ft
    Lot size: 4,007 sqft
  4. 4 beds, 2 full baths
    Home size: 2,094 sq ft
    Lot size: 8,276 sqft
  5. 5 beds, 3 full, 1 half baths
    Home size: 3,480 sq ft
    Lot size: 7,840 sqft
  6. 4 beds, 3 full baths
    Home size: 3,113 sq ft
    Lot size: 8,015 sqft
  7. 3 beds, 2 full baths
    Home size: 1,868 sq ft
    Lot size: 3.10 ac
  8. 4 beds, 3 full baths
    Home size: 3,260 sq ft
    Lot size: 8,712 sqft
  9. 4 beds, 2 full baths
    Home size: 1,797 sq ft
    Lot size: 7,100 sqft
  10. 4 beds, 2 full, 1 half baths
    Home size: 2,543 sq ft
    Lot size: 10,715 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 3/24/2017)

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

Saratoga and Los Gatos are neighbors, but their real estate markets are not the same! Today we’ll consider the condo and townhouse market in these two upscale Silicon Valley areas and view some elements “side by side”. See what you think!

First, let’s have a peek at how fast things are selling. Saratoga & Los Gatos both are at under 3 week for the “days to sell over time”.  Saratoga tends to sell a little better than Los Gatos for condominiums and townhomes, and that’s the case now as well – at least months months, and recently. (Reasons, not sure – perhaps because the location is a little closer to Cupertino and Sunnyvale and the many high tech jobs there.  Or it could be related to the school scores or any number of factors.)

Saratoga days to sell over time 2014 - condos

Saratoga days to sell over time 2014 – condos

Los Gatos days to sell over time 2014 - condos

Los Gatos days to sell over time 2014 – condos

 

 

 

 

 

 

 

 

 

 

 

 

 

Let’s check some other criteria and see how they stack up there. Let’s look at the new listings as opposed to the solds.  How far apart are they? (The closer they are, the “hotter” the market. If the solds are going faster than the new listings are coming on, it’s a red hot seller’s market.)   For most of the last year, Saratoga condominiums have been selling and closing faster than new ones have entered the market, or have tied it, except for March and April.  In Los Gatos, same pattern recently of new listings outpacing sales, and in January the closed sales outpaced new inventory.  But overall, it’s close to a tie or there’s a slight leaning toward new listings rather than sales unless you look back to last fall.  So a little bit cooler of a market in Los Gatos by this standard.

Continue reading

San Jose’s Cambrian Park neighborhood offers a variety of home types, sizes, and price ranges, from small condos to large houses on big lots.  Below, please find virtually all MLS listed properties currently for sale in the Cambrian Park Area with zip codes of 95124 and 95118. The info is updated automatically, so please check back often! (You can narrow your search by selecting only certain home types, sizes, etc.  Below are four groupings, by zip codes and home types, to cover all residential real estate available right now in 95124 & 95118.

95124 Single Family Homes:

  1. 3 beds, 2 full baths
    Home size: 1,290 sq ft
    Lot size: 5,967 sqft
  2. 4 beds, 3 full baths
    Home size: 2,392 sq ft
    Lot size: 7,274 sqft
  3. 4 beds, 2 full, 1 half baths
    Home size: 1,931 sq ft
    Lot size: 6,926 sqft
  4. 5 beds, 3 full baths
    Home size: 2,737 sq ft
    Lot size: 13,111 sqft
  5. 3 beds, 2 full, 1 half baths
    Home size: 1,863 sq ft
    Lot size: 3,789 sqft

See all Real estate in the 95124 zip code.
(all data current as of 3/24/2017)

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

95118 Single Family Homes:

click on link below to see these and more…

Continue reading

Thou Shalt Not ParkIf you’re selling a home in Silicon Valley, it’s likely that you’ll have an open house or two.  How should you prepare for it for it?  Today we’ll go over some tips.

First, plan to be gone during any open house events! (This goes double for pets, with the exception of fish!)  One of the biggest mistakes I see is home owners hosting their own open houses. Bay area home buyers don’t want you there – they feel inhibited and worried that they will say something offensive, so they say nothing and hurry out. Serious home buyers will want to linger and will want to imagine where their furniture will fit. They may be mentally remodeling your home too. But if you’re there, they will be very uncomfortable. Hire a good agent who will handle this task for you (or have someone from that brokerage do it).

Second, make your townhouse, condo or house as close to perfect as possible for the open house. Your property needs to be squeaky clean, safe and inviting. I’m presuming that you’ve already done all the fixes and staging needed generally for selling your home. Here’s a list of a few last minute to-do’s:

  1. Keep your driveway clear of cars so visitors can park there.
  2. Make all walkways free of tripping hazards (garden hoses, toys etc.) – you do not want your buyers to be “on edge”. Don’t water the garden just prior to the open house or guests might slip (or track in more than you want).
  3. Your front door should be impeccably clean!
  4. Color near the front door (front walkway or front porch) is a good “bang for the buck”, so if you have room, provide flowers there. Continue reading

How's the market?Residential real estate prices in Santa Clara County rose in February 2013 by  34.5%. That’s the 5th month in a row that the median sales price has been higher than the year before by more than 20%. This is why we are saying it could be a bubble. The median price for single-family, re-sale homes is up 53% from the lowest part of the market, which happened n March 2009. Santa Clara County as a whole is still 21% below the peak which occurred in June 2007. That said, some areas area already back to peak pricing, including the hotbed areas of Cupertino, Sunnyvale, Mountain View and Palo Alto.

FEBRUARY SINGLE FAMILY HOME MARKET STATISTICS FOR SANTA CLARA COUNTY

Sales of single-family, re-sale homes were down 21.4% year-over-year (due to lack of inventory, not lack of interest by buyers). There were 585 homes sold last month in Santa Clara County. The median price for homes jumped 34.5% yea-rover- year. The median price has been higher than the year before for the past thirteen months. The sales price to list price ratio has been over 100% for the past twelve months. It was 103.8% for February 2013. That is the highest the ratio has been since April 2005.

The average price for homes was up 25.8% year-over-year. Pending home sales were down 33.5% yearover- year. That’s the fourth month in a row pending sales have been down, portending a slow first quarter in 2013.

Santa Clara County single family homes real estate market statistics for listings and sales February 2013.

Next let’s see the median and average home prices over time along with the number of sales.  Note how sharply the number of sales is falling off while prices are rising.  This is a factor of critically low inventory. Continue reading

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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.
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Special focus on:
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Saratoga, Campbell,
Almaden Valley,
Cambrian Park.
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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.


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