San Jose Real Estate Market

By
Real Estate Agent with Coldwell Banker Los Gatos

DISCLAIMER: The information contained in this blog is my personal opinion. This information can not be considered as legal or financial advice nor should it be relied upon as legal or financial advice.

The San Jose Real Estate Market is in a weird state right now. The homes that are listed aren't selling unless it's an extremely good deal for buyers. The price has to be under the last comp by at least 2%-3%. If not, it just sits and sits there with no offers for weeks and months. Buyers are not buying unless it's a great deal.

I've talked to Realtors with homes listed for 90 to 100 days and they can't seem to figure out why their listings are not selling. Some of the homes are in great shape and listed for a pretty fair price.

June 2007 numbers just came out and it is says that the sales are down from last month. The inventory for Single Family Homes and Condos are at the highest point since I can remember.  Santa Clara County has approx 5,900 total homes on the market and more inventry is piling up each day. That's approx 4300 single family homes and 1600 condos.

Buyers looking for a good deal should buy because interest rates are low and there is much supply to choose from.  Sellers should price their homes under the market price in order to get the attention of the "Zillow Saavy" and "price conscious" buyer. In other words, pricing your home higher because you have granite counters and pergo floors just won't work anymore.

DISCLAIMER: The information contained in this blog is my personal opinion. This information can not be considered as legal or financial advice nor should it be relied upon as legal or financial advice.

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Rainmaker
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Nima Rezvan CT Lender CT Senior Mortgage Broker
Nima Rezvan Prosper First Funding Corporation NMLS#110681 - Fairfield, CT
First Time Home Buyer Expert - CT FHA Loans - FHA
Daniel, welcome to Active Rain.  You will see lots of benefits from this website.
Jul 08, 2007 04:47 PM #1
Ambassador
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Brad Andersohn
Executive Director of Education at eXp Realty - Fairfield, CA
ActiveBrad - 707.646.1876

Hi Daniel, I was born and raised in San Jose!!  :-)  Went to Oak Grove High.  I see this is your first post on Active Rain.  Congratulations!!  I just wanted to welcome you to the Real Estate Industry Network! 

Welcome aboard, I hope you'll continue to blog, and invite others.  Wishing you all the success this industry has to offer.

Enjoy!!

Below are some useful sites and groups you may want to visit right away:

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You can join any groups you have an interest in, or would like to learn more about.  Maybe Target Marketing, Real Estate Technology, or you can search All Groups, there are hundreds to choose from.

I hope you'll find these to be useful tools in helping you get started here on Active Rain.  You will meet many wonderful people here!! Again, welcome to Active Rain, the best place for your Blog!

Good Luck to you and your business!
Jul 08, 2007 08:42 PM #2
Rainer
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Michael Hutchins - Consumer Advocate, Chicago
Michael Hutchins Ent. - Chicago, IL
Hi Daniel.  I just wanted to welcome you to the Rain!  I hope you enjoy it here and keep blogging!
Jul 09, 2007 06:26 AM #3
Rainer
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Dan Pizano
Coldwell Banker Los Gatos - San Jose, CA
San Jose Realtor Real Estate Agent
Thanks for welcoming this NEWBIE I've already told two friends about Active Rain!
Jul 09, 2007 10:13 AM #4
Rainer
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Via Media Tours
Real Estate Home Video Tours - Santa Clara, CA

Thanks for sharing and welcome!

Jun 30, 2008 07:03 AM #5
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Rainer
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Dan Pizano

San Jose Realtor Real Estate Agent
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