The Evergreen area of San Jose

Evergreen area of San Jose (Silicon Valley)San Jose’s Evergreen district is in a seller’s market that’s continuing to accelerate through spring. This article will examine the data from sales and active listings in this residential real estate market with live charts and monthly updates. Here are a few points from the latest Evergreen single family housing market update, provided in more detail below:

  • April sales took an average of 11 days on market to sell, a full month quicker than this time last year!
  • The sales to list price ratio rose again month-over-month at 109.9%, up +2.2% above last month and up +9.3% from last year.
  • Single family home sales prices in April had some up and down. Average sales prices dipped -3.2% and median sales prices grew +7.2% month-over-month, though they were both up +6.4% and +10.1% respectively year-over-year.

The Evergreen area of San Jose includes many newer homes and communities. It is a desirable Silicon Valley district as Evergreen is scenic and most of the area enjoys highly regarded schools, particularly at the elementary and middle school levels.

Evergreen Real Estate Market Report: Single Family Homes

The RE Report considers all of the Evergreen district together. Please find the full report on my Real Estate Report for the Evergreen area of San Jose. Further down, you’ll see live charts with more zip code specific details.

The market is showing a strong sellers market with some up and down from the month before. This hot market is far from balanced!

Active inventory grew month-over-month and remains well below this time last year – which was still well below a more typical spring market! Pending sales soared, while closed sales fell sharply month-over-month. Meanwhile year-over-year active inventory and pending sales fell behind with closed sales up by a hair. The sales to list price ratio rose by +2.2% since the month before, and up +9.3% over this time last year. Homes on average took 11 days to sell, and with prices around 6% – 10% higher than this time last year.

Data indicates a strong seller’s market with increasing activity nearing spring’s likely peak in the Evergreen single family home real estate market.

Trends at a Glance

Trends At a GlanceApr 2024Previous MonthYear-over-Year
Median Price$2,062,500 (+7.2%)$1,924,000$1,872,500 (+10.1%)
Average Price$2,063,060 (-3.2%)$2,131,910$1,938,070 (+6.4%)
No. of Sales20 (-37.5%)3218 (+11.1%)
Pending27 (+58.8%)1723 (+17.4%)
Active20 (+81.8%)1131 (-35.5%)
Sale vs. List Price109.9% (+2.2%)107.5%100.5% (+9.3%)
Days on Market11 (-41.9%)1941 (-73.2%)
Days of Inventory29 (+181.2%)1050 (-41.9%)

 

Altos Research: Evergreen real estate market for single family homes or houses by zip code

95148

Evergreen of San Jose 95148 Real-Time Market Profile

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The Ranch on Silver Creek: golf course living in Evergreen with views

The Ranch on Silver Creek is a newer subdivision in the Evergreen area of San Jose with the 95138 zip code (that zip code is shared with part of South San Jose on the valley floor). It enjoys a lovely knoll top location – and recently I flew over it and grabbed a nice image to share with my readers here:

 

Aerial view of The Ranch on Silver Creek

Aerial view of The Ranch on Silver Creek (taken by MPH in January 2019)

What is the neighborhood like on The Ranch on Silver Creek?

Mediterranean or contemporary style homes were built there between 2003 and 2006 – which makes them practically “brand new” by Silicon Valley real estate standards! The community is set around a golf course & clubhouse and is nestled in the hills such that there are many different views available from one area to the next without leaving the neighborhood. Many San Jose area home buyers strongly prefer newer homes in newer communities, rather than a remodeled home in an older neighborhood, and this area will certainly fill that requirement. It’s a tidy area with sidewalks which invite a comfortable stroll to discover the sights.

 

Evergreen The Ranch view of Downtown San Jose

In Evergreen: The Ranch on Silver Creek’s view of Downtown San Jose

What are homes like at The Ranch?

There are a few hundred homes, so there’s quite a bit of variety there.  Entry level townhomes are nice, but fairly modest, and at the other end of the spectrum there are estate quality properties on large view lots.

Houses range from about 2,000 square feet to more than 4,000 square feet. The tiniest parcels or lots are less than 4,000 SF and are townhomes or town houses, and the largest homes, generally, sit on land sized between 1/3 and 1/2 acre (though most are not so big).

Many houses are 2 stories, but there’s a fair number of single story homes, too. Most properties include an attached 2 car garage.

High ceilings, open floor plans, plenty of windows with lots of natural light are all typical here at the Ranch.

As with most newer construction, these houses are built on slab foundations.

 

Evergreen the Ranch subdivision 1

Evergreen the Ranch subdivision 1

 

What does it cost to buy a house at The Ranch?  How’s the real estate market?

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The Villages

The Villages ClubhouseNestled in the rolling foothills of San Jose’s southeastern Evergreen area is a hidden gem known simply as the Villages.

As you drive up to the secured entrance, you’ll spot a sign: The Villages a Country Club Community. They take that claim to heart. A gated, community-oriented neighborhood centered around numerous country club amenities creates an immersive home for its residents.

However this is a senior community, so to live at the Villages you have to be 55 or older (also known as an adult community or seniors community). Therefore many residents are retirees who are active, love entertaining guests, and don’t want to mow the lawn every week. But you don’t have to be a resident to enjoy the country club side of things.

 

The Villages

Only about a 20 minute drive from downtown San Jose, this area was once agricultural land with vineyards. It is still home to the impressive William Wehner historic mansion, constructed in 1888 and designed by architect David Burnham (this estate is currently closed to the public). The mansion is sometimes called the Cribari Mansion for its later owners, a name that was adopted by the first Village development. The original stone columns (circa 1891) for the estate’s original drive still stand as a prominent feature on one of the golf courses.

Today, the community is still surrounded by untouched rolling hills. And that natural beauty is staying put, as the Villages owns 550 acres of open space with community hiking trails. All together, the campus consists of 2,309 condominiums and 227 single family homes.

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Silicon Valley homeowner associations: they’re not all alike

Read the HOA Documents for your Silicon Valley homeowner asssociationSilicon Valley homeowner associations vary widely, depending on a number of factors.

What do you think about living in a neighborhood with an HOA, a homeowner’s association?  For many, living within an HOA means a nice, tidy community.  For others, it’s like signing up for Big Brother telling you way too much about what you can and cannot do.

Silicon Valley homeowner associations – the scope

  • Some Silicon Valley  homeowner associations are small, have limited authority, and are self-managed
    • this could be a tiny group of townhouses with Planned Unit Development ownership, not condo ownership, on a public street
    • some HOAs only cover a shared pool and recreation facility and have no jurisdiction over landscaping, home paint choices, etc.
  • Some HOAs here are large, have a tremendous amount of authority, and have professional management
    • this could be for a condominium complex, for houses or townhouses in a gated community such as The Villages, or anything in between
    • the more the HOA controls, the larger the dues and larger the chance of the HOA financially impacting your property when you sell (not so much if the HOA only covers a shared pool)

Silicon Valley homeowner associations area vary tremendously in what they can and cannot do, and also in the types of rules which are enforced.

In Silver Creek, in the Evergreen area of San Jose, you can look around and see a vast collection of stuccoed houses with tiled roofing.  So it would not surprise you if your roof needed to be tile there. (more…)

Gated Communities in San Jose & Silicon Valley

Where can you find gated communities in San Jose or Silicon Valley?  There aren’t many of them! (It is a myth, however, that the Silver Creek Valley Country Club is the only one in Silicon Valley. That’s just not true.)  There are fewer than a dozen, though, and in this post I’ll provide some basic info on each and links to the home owner association for each so you can learn more if you so desire.

Most of these enclaves include neighborhood pools.  Some also boast golf courses, spas and restaurants. One even has riding stables!

Evergreen gated communities

In the Evergreen area of San Jose (the east foothills), there are very two very large gated residential neighborhoods:  The Villages, which is a retirement community for seniors (and has age restrictions, one resident must be 55+) with many luxury amenities (pools, tennis courts, horseback riding stables, bocce ball, and more).

Silver Creek Valley Country Club, which is the largest and best known gated community in Santa Clara County, is also found in the east foothills in the Evergreen area.  A big complex and elegantly appointed, the Silver Creek Valley Country Club is also the most expensive of the gated communities. Silver Creek centers around a well known, beautiful golf course, and features a wonderful clubhouse as well as multiple pools. Some communities within Silver Creek have their own HOA, so it is possible to end up paying HOA dues to both Silver Creek and also a neighborhood HOA to boot.

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8865 Wine Valley Circle San Jose

8865 Wine Valley Circle, San Jose, is a wonderful home for sale (my listing) in The Villages Golf  & Country Club, a 55+ community. This detached, single story house provides 2 bedrooms plus den or home office, 2.5 bathrooms, living-dining areas plus a family room open to the nook and island kitchen.  Built in 1997, this single family home enjoys tall ceilings and abundant natural light in an appealing, open floor plan.

Feel free to visit the Virtual Tour here, or keep reading for the details!

 

8865 Wine Valley Circle San Jose - in The Villages Golf & Country Club area in Evergreen

8865 Wine Valley Circle, San Jose CA 95135

 

8865 Wine Valley Circle – quick facts:

  • Offered at $1,050,000
  • MLS # ML81778777
  • 2 bedrooms + den or home office
  • 2.5 bathrooms
  • 2256 SF of living space
  • 4977 SF lot
  • single story, detached house
  • built in 1997
  • central air conditioning
  • dual pane windows
  • 3 sun tunnels
  • high ceilings, recessed lights
  • laundry room
  • large 2 car garage with extra storage
  • nearly carpet free (only carpeting is in one closet) – most of the home has wood laminate flooring
  • The Villages is a senior community, 55+, located in the Evergreen area of San Jose

 

Kitchen at 8865 Wine Valley Circle in The Villages of Evergreen

Island kitchen and nook

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Want your Silicon Valley house to sell? Make the temperature comfortable so that buyers linger longer!

Rainbow of home temperatures

Keep the temperature of your home for sale in a comfortable zone so that home buyers linger longer!

The other day I showed a vacant home in the Evergreen area of San Jose that was easily 95 or 100 degrees in the master bedroom, perhaps more.  Yes, we’re in the middle of a Silicon Valley heat wave! But the owner’s suite had no curtains and faced the blazing afternoon sun.  More importantly, though, the house has central air conditioning, but it was turned off.  Completely off!

Why was the A/C not turned on when it was 90 or 100 degrees outside?  The seller did not want to spend the money.

Here’s an important piece of the home-selling puzzle: the longer buyers stay at the property, the more likely they are to want to buy it.  So home sellers, make it so that your buyers will want to linger!  If they dash in and out, you can pretty much forget that visit resulting in a sale. In our case, we quickly left because our visit went from uncomfortably warm downstairs to intolerably hot upstairs.

I see this with homes in winter, too, where home sellers don’t want to pay for  heating when they’re not living in the house. They  turn the heat either all the way off or so such a low number (in the 50s) that buyers are uncomfortable the whole time they are seeing the home.  Similarly, those buyers leave to find relief in a warm car – and seldom either come back or consider writing an offer.

Heat and cooling to make a home comfortable is not a waste of money.  It’s a type of staging.  Just as we want the house to be clean, uncluttered, and looking its best so that our seller clients make the most money possible from the sale, we also want the home to feel comfortable in terms of temperature (and smell nice too!).  All of these things matter if you want to leverage this important asset and sell for top dollar.  To turn off the heat in winter or the cooling in summer is counter-productive to your and your real estate agent’s goals.  Keep it comfy!

Addition resource for Silicon Valley home sellers: http://SellingYourHomeInSiliconValley.com/

Canyon Creek Park Views of San Jose’s Evergreen & Silver Creek Areas

The other day I was previewing for clients all over east and south San Jose: Berryessa, Alum Rock, Evergreen, Santa Teresa and Blossom Valley. It was one of the hundred degree days and I was glad my car has a strong air conditioner. I stumbled upon Canyon Park near Silver Creek as I was obeying my car’s navigation system, and stopped long enough to take a few photos since the views were just perfect. Hope you enjoy seeing them.

 

View from Canyon Park in San Jose's Evergreen district, looking northeast toward Alum Rock and Berryessa (left) and the Mt Hamilton Range

 

From ridge at Canyon Park, looking east toward the Mt Hamilton range and the Villages, generally

 

San Jose's Canyon Park in the Evergreen area with a view east, away from downtown San Jose and toward the foothills

 

Canyon Park is located across from the intersection of Larkspur Canyon Drive and Stoney Creek Place (off San Felipe) in San Jose’s 95109 zip code (near Silver Creek).

Like what you see? Read more about Canyon Park on Yelp & see reviewer’s comments.

Photos, by the way, are not retouched. They were taken with my new Blackberry Tour (as you can see, I have not yet figured out how to focus the pictures!) – these were my first attempt at using the camera function.

 

 

 

San Jose is a Seller’s Market in Many Areas Now!

We may be in a recession with 11% local unemployment, but affordable homes are getting scooped up with multiple offers and in many areas, inventory is shrinking.

Today we’ll look at five areas of San Jose which offer at least some, if not mostly, entry level housing: Blossom Valley, Cambrian Park, Evergreen, Santa Teresa and South San Jose.

Evergreen does have some high-end housing in Silver Creek and elsewhere, but it also provides some very affordable homes for first time home buyers.  Cambrian Park is mostly middle class but it, too, has some McMansions (original Cambrian Park tract with large lots and very old homes that are not infrequently bulldozed) and some homes with views (Vista Loop area, bordering Los Gatos and Almaden Valley).  Blossom Valley has some beautiful properties and many close to the scenic Santa Teresa Foothills.  Overall, though, these homes represent affordable or mid-range houses for sale in Silicon Valley.  When we look at them as a group, it gives a strong sense of what the market is doing generally.

The months of inventory reflect how long it would take the current inventory to be absorbed (or sold off) if no new inventory came on the market and sales continued at the current pace.  Six months is a balanced market.  Fewer represents a seller’s market and more reflects a buyer’s market.  As you can see, April shows a push in all five districts of San Jose into seller’s territory:

 

2009-five-san-jose-areas-absorption-rate

 

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Trying to Buy a First Home in Silicon Valley Amidst the Mortgage Meltdown, Credit Crunch and Financial Crisis

Things have been rough for first time home buyers in Silicon Valley. Lenders have been tightening requirements for months, demanding larger down payments and more perfect credit than at any time in the last 10 years.  This is true all across Santa Clara County, from Evergreen to Saratoga to Cambrian Park and South San Jose. Money is tight.

For those hoping to get into a single family home for under $500,000, which is possible in some parts of San Jose right now, there’s real improvement in affordability over the prices we saw a year ago. But that’s only true if you can buy! Don’t be discouraged – if you want to buy, now’s the time to begin planning.

What do you need to do to be able to take advantage of the soft Silicon Valley real estate prices?

  • Cash is king, especially now – so save for that down payment
  • If necessary, consider buying your first home with your parents’ help. They can put down some of the downpayment and be on title with you and you can pay them back over time. Of course, consult a real estate attorney to set this up!
  • Check into the first time homebuyer programs available in your city or town
  • Meet with a good lender (who comes to you by referral) to work out a plan to buy, clean up any credit issues, and investigate any other opportunities for assistance (such as programs for teachers, firefighters, police officers, and other city or county employees)

Call or email me if you’d like to talk about the possibilities of buying a home in today’s Silicon Valley real estate market!