The local paper has been running stories about the real estate market in Santa Clara County and the good news is that many of the bank owned, foreclosed homes are getting bought up. Throughout the Silicon Valley area, about one home in four is selling.
Real estate is local, though. . .much more local that countywide. What is happening in Berryessa or Blossom Valley is interesting, and may have an impact on the local economy and you. But if you live in Los Gatos, Saratoga, Monte Sereno or Almaden Valley, what's happening elsewhere may have little to do with home sales in your immediate zip code or subdivision.
Today on my Live in Los Gatos blog, I posted about home selling in Los Gatos. What are the odds that your Los Gatos home will sell? In the west valley generally (the four areas mentioned above), it runs between about an 8% and 15% chance that a home will sell. The exact chance varies by location, condition, school district, price point, etc. For instance, the very expensive luxury home market (over $3 million or so) is much worse than homes priced between one and two million dollars.
If you are thinking of selling your home in Los Gatos or anywhere nearby, please visit my blog and read today's post: How Hard is it to Sell a Los Gatos Home Now?
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