From April this year we are experience the multiple offers in most of the 1st time home buyers market. It could be ranging from $200,000 to $500,000 range. There are many mutiple offers bought 20 - 30 offers. Even some higher end market like Los Altos, Cupertino, Saratoga which price is range form $900,000 to $1.5 Milllion homes are very active also.
The buyers finally realized the time is running out. One home in Sunnyvale asking for $299K it was very dirty birds' droppings found everywhere. It still sold quickly over asking as $314K. Another listing at the same area asked $320,000. I put in one offer is not even top 5 out 10. Those Sunnyvale homes were sold in $600K range in 2005 and 2006. Now is just about half price of 3 years ago. We have not seen those many buyers in the 1st 3 months of this year but since the 2nd quarter of the year, the buyers are buying homes now.
The 30-year fixed rate mortgage averaged was 6.08 percent last may now is about 5 to 5.25%. It is still lower then 6.08. I think the buyer realized the interest rate is low and the home price is low. Both of them WILL NOT be low for good so the home buyers are jumping off the fence starting buying. I found another point of view from anther activerainer,Steve Mun, expalining the buyers activity by using the buyer affordabily.
An article from the local newspaper San Jose Mrecury News said even the median Silicon Valley home prices are stablized. Sue quoted from "Rick Turley, president of Coldwell Banker for Northern California, said the number of foreclosure resales could go back up again later this year."
I follow the Santa Clara County ( Silicon Valley) Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes: 1.) The homes inventory goes down from last year 6043 to this year 4919. The sold homes increased from 653 last April to 914. The average price dropped from last year $986,374 to $597,877 this year. The median price of Santa Clara county homes has dropped from $768,000to $470,500. 3.) It takes average 49 days last year to sell but this year is 61 days. With all the numbers that show this month we have almost 10% less inventory of homes for sale and the number of the homes sold increased. The both average and median price for homes dropped about 33% from last April to this April. The price dropped due to much more lower end homes such as short sales and REO (bank owned) homes sold. The above information came from the multiple listing services www.reil.com
If you are planning to buy or sell homes in Silicon Valley (Santa Clara County ) which could be the cities like sunnyvale, Cupertino, Saratoga, Moutain View, San jose.., please contact Grace Keng, REALTOR®. , I offer a free 45 min. consultation to cover a complete he current real estate market. You can email me GraceKeng1@gmail.com
An overview of Santa Clara's Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes:
1.) The homes inventory rose to 143 this year from last year's 128.The sold homes are grow from 12 last April to 11 this year.
2.) The average price ofSanta Clara homes this year has lowered to $382,727 from last years' $602,897. The median price on Santa Clara homes has dropped from $661,500 to $360,000.
3.) It takes average 115 days to sell aSanta Clara home, but last April was 46 days.
With all the numbers that show this month we have almost 10% more homes at theSanta Clara for sale and about 10% less homes actually sold. The average and median price for Santa Clara homes both dropped about 40% from last April to this April. The price dropped due to a lot of lower end homes as short sales and REO (bank owned) homes sold. The above information came from the multiple listing services www.reil.com If you are planning to buy or sell homes, I offer a free consultation to cover a complete he current real estate market. You can email me GraceKeng1@gmail.com
overview Today I reviewed the Mountain View's Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes:
1.) The homes inventory rose to 101 this year from last year's 55.The sold homes are grow from 15 last April to 20 this year.
2.) The average price of Mountain View homes this year has lowered to $860,400 from last years' $1,106,718. The median price on Mountain View homes has dropped from $1,072,625 to $837,500.
3.) It takes average 52 days to sell a Mountain View home, but last April was 29 days.
With all the numbers that show this month we have almost double the Mountain View homes for sale and about 5 more homes actually sold. The average and median price for
Mountain View homes both dropped about 20% from last April to this April. The price dropped due to a lot of lower end homes as short sales and REO (bank owned) homes sold. The above information came from the multiple listing services www.reil.com
If you or someone you know is thinking of buying or selling property at or near Mountain View, California please contact Grace Keng, REALTOR®. at 408-733-8887 or by e-mail at GraceKeng1@gmail.com.
An overview of Sunnyvale’s Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes:
1.) The homes inventory rose to 186 this year from last year’s 203.The sold homes are lower from 42 last April to 38 this year.
2.) The average price of Sunnyvale homes this year has lowered to $639,043 from last years’ $902,244. The median price on Sunnyvale homes has dropped from $875,000to $639,043.
3.) It takes average 50 days to sell a Sunnyvale home, but last April was 23 days. With all the numbers that show this month we have less Sunnyvale homes for sale and less of them actually sold. The average and median price for Sunnyvale homes both dropped about 40% from last April to this April. The price dropped due to a lot of lower end homes as short sales and REO (bank owned) homes sold. The above information came from the multiple listing services www.reil.com If you are planning to buy or sell homes, I offer free consultation so you will have a clear picture of the current real estate market.
An overview of Los Altos Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes:
1.) The Los Altos homes inventory rose to 132 this year from last year’s 65. The sold homes are a little less then last year. Last April sold 24 homes and this April is 11.
2.) The average Los Altos homes price is still on the down turn. This year’s sold price is $1,574,000 vs. last years’ $2,050,114. The median sales onLos Altos homes has dropped also from $1,760,404 to this year $1,500,000.
3). It would take 60 days this year to sell a Los Altos home but last year would be only 29 day. From all the numbers we can tell there are more homes for sale and less of them actually sold. The home prices have modestly drifted downwards. Los Altos continues to attract the qualified buyers who are looking for good schools, and the quality of life. The above data information came from the www.reil.com
If you are planning to buy or sell homes in Silicon Valley, I offer a free 45 min. consultation to cover a complete he current real estate market. You can email me GraceKeng1@gmail.com If you or someone you know is thinking of buying or selling property in Santa Clara County ( sunnyvale, Cupertino, Saratoga, Moutain View, San jose..), California please contact Grace Keng, REALTOR®.
An overview of Cupertino’s Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes:
1.) The Cupertino homes inventory rose to 137 this year from last year’s 95. The sold homes are a little less then last year. Last April sold 27 homes 27 and this April is 26.
2.) The averageCupertino homes price is still on the down turn. This year’s sold price is $1,095,319 vs last years’ $1,278,179. The median sales on Cupertino homes has dropped also from $1,199,000 to this year $955,000.
3.) It takes shorter this April to sell a Cupertino home as 26 days vs 27 days. With all the numbers we can tell there are more Cupertino homes for sale and less of them actually sold. The average and median price for Cupertino homes dropped about 10% from last April to this April. The above data information came from the www.reil.com and the graph information came from the http://www.clarusresource.com/ If you are planning to buy or sell homes in Silicon Valley, I offer a free 45 min. consultation to cover a complete he current real estate market. You can email me GraceKeng1@gmail.com If you or someone you know is thinking of buying or selling property in Santa Clara County ( sunnyvale, Cupertino, Saratoga, Moutain View, San jose..), California please contact Grace Keng, REALTOR® 408 799-8887 or email
GraceKeng1@gmail.com
This morning I received a call out of blue.."Is this Grace? I want to know t the status of your listing so and so? I said:" It is fine!" I asked :" Are you an agent or a buyer?" He said "Buyer." He continued on:" Instead of wasting your time, Can I ask you to write an offer for $1.2 Million?" I was shocked! " You want discount $268,000. No way! It is below the comps." He said: "What is comps? It does not mean anything!" Of course we end the conversion quickly. The buyers call the listing agent to offer a ridiculous low price and wish to get home for about 20% lower than the asking price. I was speechless...
1st point: All real estate offer needs to be in writing to be effect.
2nd point: There is no such a easy flip opportunity under the sun.
3rd point: Buyers who intend to hire the listing agent. Do they know the pitfalls of the dual agency?
Grace Keng, Realtor, RE/MAX Real Estate Services Cupertino, CA
THIS DELIGHTFUL FOUR BEDROOM RANCH HOME ENCAPSULATES THE VERY BEST OF LOS ALTOS LIVING. Tucked away on a tranquil cul-de-sac, this lovely home offers a bright and open floor plan at is ideal for both casual living and formal entertaining. From the living room, you will look out over the masterfully landscaped garden with lush lawns, a peaceful fountain, beautiful red maple trees and many mature fruit trees intermixed with fabulous rose gardens. This charming residence sits in a very sought after cul-de-sac within walking distance to award winning Los Altos schools, local parks and close by Rancho Shopping Center.
4 Bedrooms, 2.5 Baths, Approx. 2070 sq ft, 10140 sq ft lot Black slate formal entrance Bright living room with wood burning fireplace Roomy dining area completes the formal living space Family room with stone fireplace built to ceiling Spacious master bedroom with private sitting are with skylight.close to parks Awarding Wining schools: Oak, Blach, Mountain View high school. You can not find any home as beautiful as this one any more. The asking price is $1,468,000.
If you are interested in finding the final selling price of any home, Go to www.GraceKeng.com or give me a call. I am here to help you. Grace Keng RE/MAX Real Estate GraceKeng1@gmail.com 408 799-8887
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From April this year we are experience the multiple offers in most of the 1st time home buyers market. It could be ranging from $200,000 to $500,000 range. There are many mutiple offers bought 20 - 30 offers. Even some higher end market like Los Altos, Cupertino, Saratoga which price is range form $900,000 to $1.5 Milllion homes are very active also.
overview Today I reviewed the 
4 Bedrooms, 2.5 Baths, Approx. 2070 sq ft, 10140 sq ft lot Black slate formal entrance Bright living room with wood burning fireplace Roomy dining area completes the formal living space Family room with stone fireplace built to ceiling Spacious master bedroom with private sitting are with skylight.close to parks Awarding Wining schools: Oak, Blach, Mountain View high school. You can not find any home as beautiful as this one any more. The asking price is $1,468,000.
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