Live In Los Gatos
Blog by Mary Pope-Handy
Los Gatos, California
Los Gatos real estate, neighborhoods, condos, houses, homes, market trends, history, events, lifestyle, parks, events, businesses, home, Mary Pope-Handy CategoriesSubscribeRecent Comments<a href=<http://www.as.com>adfa</a>... I was expecting more properties... There are such... Great article. If only we could get more REA... Mary, This is the MOST comprehensive article I've... ArchiveFavorite LinksRealTown BlogsSite Feed |
Live In Los Gatos
May. 30, 2009
Categorized in: Homes & Housing Market
Tagged with: almaden valley, cambrian park, first time homebuyer, los gatos real estate market update, may 2009, naglee park, rosegarden, saratoga
The Silicon Valley real estate market continues to improve, generally. It is a seller's market in the lowest priced homes, especially if they are in good areas such as the Rosegarden or Naglee Park. In those parts of Santa Clara County, we're seeing multiple offers and overbids. That said, within each market that are smaller markets and a lot of the performance depends on how well the home in particular appeals to a broad audience, its general condition and how aggressively its priced. Many sellers are just "testing the market" and those homes may or may not sell.
On average, homes are selling upwards of 95% of list price in Los Gatos right now. As you can see, some are selling right at list and occassionally one sells a little over. What about prices? Generally, it appears that prices are still slipping in some areas but are level in others. We may be close to (or perhaps just past) the bottom. Time will tell. In the lowest priced areas of Silicon Valley as well as some prime areas of the more expensive west valley, though, the multiple offers and overbids are driving prices up. For entry level buyers, it's time to get off the fence. Home prices are rising and, equally importantly, interest rates are rising. Those most negatively impacted right now are move-up buyers (who'd love to move up but are trapped by negative equity) and retirees who would love to sell and move to a retirement community but need to wait for more of a recovery. The retirees are doubly hit because they relied on retirement portfolios that may well be worth half of what they were worth a couple of years ago. Where's the opportunity in this market? First time homebuyers, this is as good as it gets. You can now purchase a home with only 3.5% down (though you'll need another 2-3% for closing costs) with an FHA insured home loan. Not only are prices great, but there's an $8000 first time homebuyer credit that you may be able to use toward your closing costs. This is not an open ended offer - hurry!
Apr. 8, 2008
Categorized in: Homes & Housing Market
Related Posts on Short Sales in Silicon Valley by Mary Pope-Handy: Can a Real Estate Agent Help You to Buy a Distressed Home or Pre-Foreclosure in Los Gatos?
Jan. 21, 2008
Categorized in: Homes & Housing Market
Tagged with: absorption rate, cambrian park, condos, los gatos real estate market, months of inventory, opportunity market, saratoga, silicon valley, single family homes, townhomes
For the condo and townhome market, it was even stronger. Once again, it was a little more challenging late in the year (not an unusual pattern for any year). What about now? How is the inventory of homes in Los Gatos right now? Late in 2007, it appeared to be an ideal time to be a "move up buyer" - to sell that townhouse and to buy a single family home. Now, early in 2008, the opportunity has shifted. It is now a great time to sell that single family home and to downsize into a townhouse or condominium. The market is always changing and the micro markets can all be different from the general trends in the town. If you'd like to discuss your home, your neighborhood, or buying and selling, please send me an email or give me a call. I'd be happy to set up a time to talk with you about your unique situation. |


