Home Types

Types of Homes in Silicon Valley

How is the Campbell real estate market?How is the Campbell real estate market?  Campbell is in a fairly strong seller’s market, but like the rest of the county, is in a period of cooling off in terms of pricing, numbers of offers, and sale price to list price ratio. 

If you’re selling, perhaps a few months ago, you’d have gotten 6 or 8 offers on your well prepared, beautifully staged, and aggressively priced home for sale. Now, maybe it is 3 or 4 offers instead. The offers are often coming in with no contingencies, but there just aren’t as many.  The massive overbids are becoming a little less massive.

Part of this seems to be seasonal fluctuation. In my 25 years of selling homes in the Santa Clara Valley,  I have seen that in MOST years, late spring and early summer sees a flattening of the market, sometimes even a slight decline in pricing, after the peak months of January through April. Last year, that didn’t happen.

The other part may be “buyer fatigue”. Buyers have had enough with the spiraling-out-of-control prices and terms so strongly in the sellers’ favor. They are voting with their feet.

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.

And now –  here are some quick stats, care of my RE Report for Campbell:

CAMPBELL real estate market trends and statistics

Still up year over year, but down month over month for the median list price – suggesting that lower priced homes are what’s selling.

Trends At a Glance Sep 2018 Previous Month Year-over-Year
Median Price $1,375,000 (-1.8%) $1,400,000 $1,330,700 (+3.3%)
Average Price $1,490,810 (+5.2%) $1,417,320 $1,373,920 (+8.5%)
No. of Sales 25 (+19.0%) 21 28 (-10.7%)
Pending 13 (-31.6%) 19 28 (-53.6%)
Active 37 (+42.3%) 26 13 (+184.6%)
Sale vs. List Price 103.0% (+1.5%) 101.5% 108.6% (-5.1%)
Days on Market 19 (-26.4%) 26 18 (+7.1%)
Days of Inventory 43 (+15.6%) 37 13 (+218.8%)

 

And the month before:

 

Trends At a Glance Aug 2018 Previous Month Year-over-Year
Median Price $1,400,000 (-3.4%) $1,450,000 $1,360,630 (+2.9%)
Average Price $1,417,320 (-9.4%) $1,563,680 $1,522,240 (-6.9%)
No. of Sales 21 (-27.6%) 29 35 (-40.0%)
Pending 19 (-17.4%) 23 25 (-24.0%)
Active 26 (-21.2%) 33 13 (+100.0%)
Sale vs. List Price 101.5% (-2.7%) 104.4% 106.3% (-4.5%)
Days on Market 26 (+50.4%) 17 13 (+108.4%)
Days of Inventory 37 (+8.8%) 34 11 (+233.3%)

 

What about the Campbell CA condo market?

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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.)

For most of the valley, inventory is up, prices are down, days on market are up, and sale price to list price ratio is up. It’s still a seller’s market, but it’s softening. If it continues in this direction, it will become a buyer’s market – but is not there yet.

Here’s the chart for Saratoga – all price points, all school districts. Please notice that the months of inventory is about DOUBLE from four months ago. Translation: it’s twice as hard to sell now as it was in mid-April. At the same time, 3.15 months of inventory is still very decent! Also, though home prices can be quite high, the bulk of properties are under $3 million. It’s challenging to sell homes higher than that amount, overall.

 

2018-08-17 Saratoga MOI all areas

 

And from 4 months ago:

2a - Saratoga, CA, Real Estate Market Update

 

By comparing across school districts you can also see how different each area’s individual market can be. Saratoga with Saratoga schools is a little slower of a market. Why? Most likely because it’s a bit pricier than other areas. This area is about 50% slower than it was a few months ago. The overall MOI makes it seem like Saratoga with Saratoga Schools is a bit sluggish. That’s not really the case in most price points, but at $4 million and up, it is a buyer’s market.

 

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Spectacular open living concept kitchen and family room at 1190 Crestline Dr Cupertino

Great room with vaulted ceiling and foam insulation between roof and ceiling.

Do you love vaulted or open beam ceilings? Whether it’s one room (as we find with a lot of the cathedral ceilings and George Day build houses in Saratoga) or the entire house (which we see in many of the mid-century modern or Eichler houses throughout Silicon Valley), the looks of vaulted ceilings just says “home” to many people. I grew up with wood, open beamed living rooms and family rooms and understand the appeal.

For most ranch style houses here in Silicon Valley, there’s an attic between the finished ceiling in any given room of the house and the roof.  In that attic, usually there’s some sort of insulation. With newer construction, it tends to be thicker, making the house below more comfortable in both summer and winter.

Many of the mid-century modern style houses, and some others, find the open beams are pretty much directly below the roof. There’s no attic. Perhaps it was not deemed necessary in our sub-tropical climate when they were built.  Less insulation  means there’s less to protect you from nature’s hot summers and cold winters.

In some cases, though, there is foam insulation between the roof and the ceiling. That isn’t visible. You may get a hint that it’s there if you look from the outside and do not see vents in this area under the roof. It’s an upgrade over standard insulation, and one you’ll be thankful to have.

Many mid-century modern home owners have opted to install foam roofing when it’s time to re-roof. These foam roofs also offer insulation that helps keep the house comfortable year round.

If you are a home owner, it’s a good idea to get inspections done periodically (even if you aren’t planning to sell) so that you can learn what needs attention before a situation worsens. Roofs tend to need “tune up” work  every few years to keep it leak free and prevent future problems. Termites come back. Safety codes change over time. If your house or townhouse features a vaulted or open beam ceiling, talk to your inspectors to learn about the insulation present and discuss if any changes are needed to keep your power bills lower and your comfort higher.

 

Related reading

Asbestos in homes

Need to Sell Your Silicon Valley Home?

Almaden Meadows neighborhood

 

How's The Luxury Home Market?Luxury home sales are going like crazy in the west valley areas of Santa Clara County. Right now in Almaden Valley, Los Gatos, Monte Sereno and Saratoga, there are 115 houses for sale listed at or more than two million dollars (just checked MLSListings.com), and in the last 30 days 52 have sold and closed escrow in those same areas and price ranges. For the Almaden – Saratoga region generally, then, there are 2.212 months of inventory in the over two million dollar price range (115/52). That makes it a strong seller’s market. Things have certainly stayed lively since last year. (In the same region, there are 39 pending sales.)

Next we’ll look at these four Silicon Valley communities separately to see how the luxury market in each one is faring overall.

Almaden Valley (San Jose, 95120)

Currently in Almaden there are 12 houses for sale which are listed at or over $2,000,000.  In the last 30 days, 3 sold in that price range (with 2 sales pending). That makes for 4 “months of inventory,” which can be considered a balanced market in many areas though is leaning towards being a seller’s market. That would mean this luxury market has good turnover but is not as strong a market as elsewhere. It’s a close to balanced market in Almaden Valley among the most expensive real estate offerings for sale. Five to six months is balanced and over six is a buyer’s market. Continue reading

VintageHomeTour2018 - Historic Naglee Park Home Tour in San Jose

The historic Naglee Park Home Tour in San Jose will take place on Saturday April 21, 2018 from 10am to 4pm. Sponsored by the San Jose Woman’s Club, this is the seventh year of the annual tour. This year, proceeds go towards the renovation of the Women’s Club 1929 Spanish Revival Clubhouse.

Tours include access to seven homes along two adjacent blocks in Naglee Park, and shows off both their lovely living quarters and gardens. Visitors have the option of pre-ordering a lunch box, and wine and refreshments will be available at the Refreshment Garden. The tour also features a lecture and open-air market.

The SJWC does not have any information on their website as of yet, however the Eventbrite page, where you can purchase tickets, has details, as does the Facebook Event Page.

For tickets and information: https://www.eventbrite.com/e/sjwc-naglee-park-vintage-home-tour-tickets-42695715033

 

Historic Naglee Park Home Tour in San Jose was on the same date, April 21, back in 2012 for the 3rd annual tour.

Historic Naglee Park Home Tour in San Jose was on the same date, April 21, back in 2012 for the 3rd annual tour.

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

 

The Naglee Park neighborhood in downtown San Jose is one of the most charming and historic areas in Silicon Valley. Known for older, beautifully maintained and updated homes, it boasts an annual historic homes tour.

Located just east of San Jose State University, it is extremely convenient for those involved with the college or who work downtown.  Scenic Coyote Creek is its eastern boundary, Highway 280 the southern one, and E Santa Clara Street the northern edge of this community. This neighborhood is also close to the ever popular Happy Hollow Park and Zoo (which is in south San Jose, also along Coyote Creek).

Map of the Naglee Park neighborhood

 What are homes in Naglee Park like?

Houses and homes in Naglee Park are primarily older, with the most historic being constructed in 1890. The average year built is 1935 as some of the properties were put up as recently as 2014 – though that is very unusual.

Besides being older, often historic homes, what can we say about the Naglee Park homes? First, there are 859 single family homes there, plus 39 duplexes, plus other types of housing in the mix. So it is a good sized community.

Livable square footage in the single family homes ranges from a very modest 480 SF to an over sized 5007 SF of living space, with 1904 Sf being average. The average lot size is 6776 – pretty typical for most of San Jose, actually.

A variety of architectural styles can be found in Naglee Park, including Victorian, Craftsman, Mediterranean, and more. A few years ago, I had the pleasure of selling a house in Naglee Park which was a beautiful Italian-Mediterranean style with classic beauty.

Naglee Park home - S 14th StreetNaglee Park - Living RoomNaglee Park - Dining RoomNaglee Park - Milk Delivery Detail034 Naglee Park Doorknob Keyhole 750x400 - Naglee Park NeighborhoodNaglee Park - Patio and Fountain

What do homes cost in Naglee Park?

Right now, in early 2018, inventory is very low, and therefore our data is also low. In general, though expect to find homes selling for between $1 million and $2 million, but on the high end of that range in most cases.  (It could be less if the home was small and in great disrepair, or more if the home were huge and newly renovated or rebuilt.) If you want to purchase a turnkey home in Naglee Park, it would be good to budget a minimum of $1,500,000 for a smaller home, and understand that it could go for close to $2 million.

download 800x204 - Naglee Park Neighborhood

Neighborhood data gathered February 20th, 2018

Are there any concerns with living in Naglee Park?

Like any downtown area in a big city, this is a place where you do lock your doors at night and can expect to sometimes deal with people wandering through who don’t live there and may be down on their luck. With the university nearby, parking may be an issue for some parts of Naglee Park.  Coyote Creek does sometimes flood, but most of Naglee Park is not in a flood plain and was not too badly impacted by the floods in the winter of 2017. Ask most of the residents what they think, though, and they’ll tell you that the beauty and convenience of the neighborhood far outweigh any potential issues.

 

Read more – other downtown San Jose or central San Jose areas:

Japantown
Buena Vista
Rose Garden

HTWebsite Banner2017Rev2 800x227 - Rose Garden Homes Tour in San Jose

Each autumn, the St. Martin of Tours School puts on a fabulous tour of lovely homes in San Jose’s Rose Garden neighborhood. While anyone driving through this central San Jose area can appreciate the diverse and beautiful architecture, often the best  features of these homes are found inside.

This year is the tour’s 22nd Anniversary! The homes tour is a large scale fundraising effort for the school. Tours are self-guided with hosts in each home ready to answer questions and share interesting historical facts and stories about the homes. On display will also be floral designs, artwork, and perhaps some treasures. The garden segment of the tour includes the Tea Garden, a spot to sit and enjoy complementary refreshments or a gourmet lunchbox (available to pre-order through October 6th with your tickets). The tour also features a boutique, where 100% of the proceeds will benefit St Martin of Tours School (credit cards accepted!) and a donation drawing.

Tour dates are Saturday, October 14th and Sunday, October 15th from 10am-4pm both days. No children under 12 are allowed on the tour. Come any time within the tour hours to begin, but note that it is recommended that visitors allot about 2 hours to view every home and the tour ends promptly at 4pm.

Tickets are available at the door, online, or through families in the school.

To read about the homes from last year’s tour, and to learn more about this year’s tour, and to purchase tickets, and more please visit the official Rose Garden Homes Tour website.

Get Tickets!

 

  1. 3 beds, 2 baths
    Home size: 1,373 sq ft
    Lot size: 5,671 sqft
  2. 3 beds, 2 baths
    Home size: 1,210 sq ft
    Lot size: 5,614 sqft
  3. 3 beds, 2 baths
    Home size: 1,705 sq ft
  4. 3 beds, 2 baths
    Home size: 1,178 sq ft
    Lot size: 5,501 sqft
  5. 0 beds, 0 bath
    Home size: 2,834 sq ft
    Lot size: 5,797 sqft
  6. 2 beds, 3 baths
    Home size: 1,060 sq ft
    Lot size: 1,298 sqft
  7. 0 beds, 0 bath
    Home size: 910 sq ft
    Lot size: 2,304 sqft
  8. 5 beds, 4 baths
    Home size: 2,630 sq ft
    Lot size: 7,052 sqft
  9. 3 beds, 2 baths
    Home size: 1,308 sq ft
  10. 2 beds, 1 bath
    Home size: 792 sq ft
    Lot size: 6,050 sqft

See all Real estate in the city of San Jose.
(all data current as of 10/23/2018)

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

One of the side roads off Rubino Circle in The WillowsWillow Glen is one of the most charming areas of San Jose, consisting of many older homes which feature lovely, classic architecture. Most Silicon Valley home buyers treasure the Willow Glen charm and ambiance, but many are seeking newer homes. A fabulous option is “The Willows“.

KB Homes built “The Willows” in 1999 to 2000. It is tucked away at the southernmost tip of Willow Glen, off of Foxworthy Avenue & close to Almaden Expressway, but only about 2.5 to 3 miles from all the action on Lincoln Avenue.

One of the central courts off Rubino Circle in The WillowsThe tree-lined streets are built in something of a loop shape with Rubino Circle being the main access or loop road. Situated on the inner part of the loop are homes with smaller lots that are a little more affordable. The outer part of the circle is built with slightly larger homes on larger lots (but none of the lots are “big”). Sidewalks with soft curbs at the corners accompany the streets and make for a pedestrian-friendly, bike, wheelchair or stroller friendly area. Visit in the early evenings and you will see children and adults walking, strolling, taking dogs for a walk etc. – always a good sign! Because the neighborhood is a bit like an oversized cul-de-sac (no through traffic), it is very quiet in terms of traffic. The area has large street lights, too, making for a safe feeling community.
Continue reading

el-sombroso-and-blossom-hill-from-vasona-parkWhat makes an expensive house in the San Jose area more than just a pricey bit of real estate, but instead a Silicon Valley luxury home? How is high end real estate different from the rest of the market? When is a property not just a home with land, but an estate?

In other parts of the U.S., spending $1,200,000 may fetch a 4000 square foot home, new construction, in an upscale gated community with country club amenities such as a golf course, tennis courts, and more. Here, that same $1,200,000 will procure an entry to mid-level single family home in many parts of Santa Clara County. It won’t necessarily be a Silicon Valley luxury home.

Luxury connotes a combination of qualities, features, and amenities. And it includes pricing (relative to the nearby market), condition, land, design.

Pricing Luxury Homes in Silicon Valley: What Do They Cost?

Expensive Silicon Valley homes are not necessarily luxury homes. Depending on the city or town, the price tag could be higher or lower. For instance, a fabulous house on a large lot in Gilroy’s Eagle Ridge might sell for 1/3 as much as the identical type of home, land and neighborhood found in Saratoga, Monte Sereno, or Los Gatos, or Los Altos, if a similar home happened to be available. Generally, though, luxury homes could cost as little as $1,000,000 or so in some parts of Silicon Valley or in neighboring counties, but in most parts of Silicon Valley, a true estate type property will be valued at $2,000,000 or $3,000,000 or more.  In some areas, such as Palo Alto, that $2 million doesn’t go too far and the home you can purchase at that price tag may need major updating – or it could be “land value”.  For our purposes today, we’ll use $2 million as the bottom number for estate properties, but it may or may not be the case in some areas.

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With fabulous views, exceptionally high ranking schools and beautiful newer construction, the Graystone and Pfeiffer Ranch neighborhoods in San Jose’s Almaden Valley are perennially desirable.

Recently I was in the neighborhood and took a couple of photos which feature Mt. Umunhum.

Pfeiffer Ranch and Graystone area in Almaden

 

And one more:

View from Graystone and Pfeiffer Ranch area of Almaden Valley in San Jose, CA (photo by Mary Pope-Handy)

The neighborhood also enjoys a park along the creek with a playground to enjoy on days with better weather.

Not sure if you’ve been to this scenic part of San Jose’s Almaden Valley?  Here’s where to find it (this is where I took today’s pictures):


View Larger Map

Current listings in Graystone:

Sorry, but we couldn't find any results in the MLS that match the specified search criteria.

Current listings in Almaden Valley:

  1. 5 beds, 4 baths
    Home size: 2,630 sq ft
    Lot size: 7,052 sqft
  2. 4 beds, 3 baths
    Home size: 2,214 sq ft
    Lot size: 5,998 sqft
  3. 3 beds, 3 baths
    Home size: 1,451 sq ft
    Lot size: 1,729 sqft
  4. 3 beds, 3 baths
    Home size: 1,998 sq ft
    Lot size: 2,356 sqft
  5. 4 beds, 2 baths
    Home size: 1,955 sq ft
    Lot size: 7,866 sqft
  6. 2 beds, 2 baths
    Home size: 1,149 sq ft
    Lot size: 15,899 sqft
  7. 4 beds, 4 baths
    Home size: 3,238 sq ft
    Lot size: 15,215 sqft
  8. 4 beds, 3 baths
    Home size: 2,416 sq ft
    Lot size: 14,945 sqft
  9. 3 beds, 3 baths
    Home size: 2,454 sq ft
    Lot size: 2,822 sqft
  10. 4 beds, 3 baths
    Home size: 2,655 sq ft
    Lot size: 9,282 sqft

See all Real estate in the Almaden Valley community.
(all data current as of 10/23/2018)

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

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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
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San Mateo County, and
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Saratoga, Campbell,
Almaden Valley,
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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
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