Summer is over and the kids are back at school. This time of the year is normally considered the slow down-period for the real estate industry. Real estate industry is a cyclical business which goes through the same cycle year by year. So we are bound to see some changes in the marketplace at this time of the year. The big question right now for people who are in the market for real estate seems to be whether a cooling down period or a new trend is happening in Silicon Valley. After a remarkably robust rise in sales activity since 2012, most … (2 comments)
market conditions: Santa Clara County Real Estate Trends Report
- 08/01/15 05:20 AM
There is a lot of information floating around out there in internet land. Perhaps too much information and it is up to individuals to filter through and extract useful information. This is fine if your job is to filter things for a living or you have a lot of free time to engage in this practice. If not, then here is an alternative. For those folks who don't have to or want to filter through tons of information, I have made available to my clients and friends a site where they can get simple, and graph based data and short commentaries … (0 comments)
I was looking back at some of my older posts and came across this one that I wrote on April 3, 2007. Given how competitive the market place is right now for homebuyers - and especially the fist time homebuyers - I thought this story of the nice gentleman put things in proper perspective. I believe the purchase of Real Estate should be viewed from a medium to long hold perspective. It is one of the only purchases you can make that will have a high chance of appreciation over time. I know, I know, people say … (2 comments)
market conditions: Where homes are selling in two months or less.
- 05/25/11 06:46 PM
Half of the cities are in California. Three of those cities are in the Bay Area. But then Bay Area Realtors already knew that if you have a good home that is priced well, they move quickly. The demand is there.
market conditions: Did the Tax Credit Extension help increase home sales?
- 12/22/09 12:24 PM
There has been quite the debate as to whether the Federal Government's credit to first time home buyers actually helped stimulate purchasing activity or not. The premise was based on the notion that in order to stimulate the depressed housing sector, an $8,000 credit towards first time home buyers would give incentive to those who otherwise would be renters into taking the dive into the world of home ownership.
The argument on the opposing side was that the program was merely wasted stimulus money because those first time home buyers who were going to buy were going to buy anyway because bargains could be … (1 comments)
If you would have asked me a year ago, I would have told you it was not possible. Let me put in a caveat, however: the numbers do not represent all areas, only the county as a whole. Real estate is a micro climate business, so what is happening in your neighborhood does not necessarily reflect what is happening a few mile away in another town. Some areas are still hot and others are doing horribly.
What am I rambling about? It is called absorption rate: it measures the number of months it would take for the current … (0 comments)
market conditions: Growing Pain.......
- 06/07/07 03:24 PM
Ah, first time home buyers. I love them! I love them because they are starry eyed and full of excitement about getting into their first dream home. I get more pleasure out of getting them into their first home and living vicariously through them in their moments of joy. This is what gives me the most satisfaction and pleasure about my profession! Because they are rookies in the game, I try to spare them some disappointment and pain by showing them the shortcut - so to speak - in their journey offering them advice which would serve them well. But, alas, … (0 comments)
The disparity between the number of homes coming on the market and the homes selling continues to grow as we approach the summer months. Clearly, the number of homes sold is lower this year compared to last. The fascinating thing is that despite this disparity and the lower sales numbers, the prices are continuing to rise as we will see (one would expect the opposite). What does this tell us? Buyers certainly have a wider selection of properties from which to choose overall, however, there is still competition for the ‘prime choice' properties in great condition and excellent school … (0 comments)
market conditions: Location, location, location.....
- 05/17/07 09:21 AM
I have always believed in buying in the best area that you can afford (meaning areas that are centrally located and with great school districts). I know, this is not an original idea but it is true: location, location, location! Why should you choose a home in this type of location rather than a more "affordable" area? Because it is a better value in the long run. You will have an easier time selling it later and will earn more money. Let me illustrate this truism for you in the current market. I will take two areas that are the extreme … (0 comments)
There certainly is not a shortage of homes coming on the market in Santa Clara County right now. The number of homes coming on the market continues to be greater in volume when compared to the same period last year: a glaring difference. Also, the purchasing activity did not kick into overdrive, but remained flat during the busy months (February through September). This is most likely the result of the sub-prime borrowers who were unable to keep up with their mortgage payments unloading their homes before going into default. If we look at the past three months, surprisingly, there … (0 comments)
market conditions: Heard on the street
- 04/05/07 02:45 PM
The jokes we used to make to each other when I started in the business in 2001 was that soon every 3 bedroom 2 baths would cost a $1 Million dollars and we would all be out of business, because no one would buy homes. It was supposed to be ironic. The good thing is we are not all out of business. Most of the colleagues with whom I started in the business are still here and doing well, thank goodness. The not so good and not so ironic news is that yes, the typical 3/2 house has hit a $ … (0 comments)
market conditions: Not too shabby....
- 04/03/07 11:46 AM
I was doing my Open House Sunday, when an elderly gentleman walked in saying he wanted to check out how the prices of homes were doing in the neighborhood. He was an original owner in the tract. He paid $17,500 for his 3 bed 2 bath unit 52 years ago. He is a very nice grandfatherly gentleman who apparently enjoyed watching the gasps and jaw dropping responses emanating from me (hopefully I wasn't drooling too). He said he could not afford the $17,500, on his Veteran's loan so he had to borrow more to make the purchase. He said he … (1 comments)
market conditions: Let me entertain you, let me make you smile.
- 03/01/07 03:42 PM
Well, well, so far, I've been writing primarily about market conditions and what's heard on the street. Definitely important and relevant information for the local real estate market, as most would agree, but I'll be the first to admit that it can get pretty dry. And that is why sometimes it takes me a few days to think up something about which to write. People read blogs (I certainly do) to learn but also to get entertained. You can only stare at your computer for so long and read about sales volume and dollar figures. I've been thinking about how to freshen … (0 comments)
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