How's the real estate market?
I hear this question more than any other and the answer depends on many factors. What's your interest in the market? If you're a buyer, you have a different perspective than a seller - unless you're the seller as well.
Since real estate touches many people, let's not overlook small businesses, mortgage, escrow and other companies who are also impacted by how the market is going. Don't forget to add in schools and other area infrastructure.
What's clear is there's never an end to the speculation surrounding real estate. Be wary of taking national reports and applying them to your area because real estate is as local as where you buy your breakfast.
Are we seeing another housing bubble, is this moderate growth, or is it something different?
In the southern area of Santa Clara County are Gilroy, Morgan Hill, San Martin and over 100,000 inhabitants; give or take. Each community has it's own local style so this information envelopes our properties compiled to share at the 35,000 foot level.
Each month I publish trend reports for this area overall in addition to data specific to each community.
Based on a recent inquiry, I thought it might be interesting to share a bigger picture focusing on just how much residential real estate has been sold as reported in our local MLS.
So far this year over 900 residences have been sold at a dollar volume approaching $600 Million.
The MLS reports closed sales through the end of October 2012 at 1,098 homes for a dollar volume of just under $550 Million.
It's thrilling to see the local market continuing to stabilize and improve. Does this suggest bubble to you? Pull up a chair and let's talk.
You've heard before, but it bears repeating: There's a housing market every day. Someone always wants to sell and someone always wants to buy. Is now the right time and conditions for your situation?
As always, let's foresee the possibilities . . . and get results!
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