Saratoga, CA

Saratoga has had a rough time since the real estate meltdown with steep declines in prices, particularly high-end homes, since the market started to crash in 2007. In 2007 the market peaked with an average selling price of $1,852,777. In 2008 that dropped to just over $1.8 million then to $1,550,000 in 2009. While it appears that is a drop of less than 20%, the reality is that the high-end saw prices drop much more. The trend for high-end homes was 30-40% discounts from their end-of-2007 highs. Buyers were basically calling all the shots.

The number of closed sales dropped substantially as well while inventory continued to rise. That's the key issue in the Saratoga market from 2008-2011, inventory was very high. Where some luxury markets saw inventory taken off teh market, Saratoga had significant inventory for a long time. This is because there was substantial speculative inventory and entry-level luxury buyers to extended themselves and couldn't hang onto their homes. In 2008 there were 239 single-family homes sold. That dropped to 230 in 2009 but rose nicely in 2010 to 288 homes sold. Last year is was 275.

The average selling price has continued to rise or hold fairly steady since 2010. That's when the general market recovery started. However, the excessive inventory has been an ongoing issue. With lots of choices, prices aren't rising as they are in other luxury markets like Los Altos Hills. However, with inventory available and better overall value and price apprciation potential in other markets, the recovery is still slow in Saratoga. The trend so far this year is for a decent number of homes sold and at slightly increasing sales prices. Sales prices are already rising as buyers scramble for good homes in good locations. The trend so far in 2012 is:

• Rising prices
• Fewer days on market
• Lower inventory

Saratoga CA Home Sales in February 2012

The Map and Table show all 19 Saratoga CA home sales in February 2012 according to the local Multiple Listing Service (MLS;MLSListings, Inc.).

Great Saratoga and Cupertino Schools plus excellent neighborhoods have combined with a robust Silicon Valley economy and extraordinarily low interest rates to create strong real estate market conditions. The low inventory of homes For Sale in Saratoga CA and surrounding cities is not currently meeting the strong demand. As the Table shows, six of the seven sales of Saratoga CA home priced under $1.7M with either Saratoga or Cupertino schools, sold for more than the Asking Price.

The bottom row of the Table shows the averages. The "average" Saratoga CA home sold in February 2012 was a 3.9 bedroom, 2.7 bathroom home with 2,736 square feet on a 23,360 sq. ft. lot. It was 47 years old. The average Listing (Asking) Price was $1,613,509 and the average Sale Price was $1,570,784 or 97.4% of the List Price. (To compare that percentage of List Price received in the final sale price for all cities in the county, click here.)

Saratoga CA homes sales from January 2012 are shown here

As a Saratoga homeowner since 1985 I understand the value and benefits of living in our wonderful community. And as a Realtor since 1976 I've learned valuable lessons that benefit my clients from planning through closing a real estate transaction. Please don't hesitate to call or e-mail me with any real estate questions or concerns.

Lloyd Binen

Realtor/Broker/DRE #572654

Certified Realty Services

19200 Shubert Drive

Saratoga, CA 96070-4046

408-373-4411

Saratoga, Calif. Open Houses Open Sunday, March 11, 2012

By Michelle Carr-Crowe, ABR, CDPE, SRES Cupertino Saratoga San Jose Lynbrook Homes Expert

This Sunday, March 11, 2012, a total of 24 residential homes for sale in Saratoga, Calif. will host open houses.

Saratoga homes for sale fall within three different high school districts: Los Gatos-Saratoga, Campbell and Fremont Union (aka “Cupertino Schools”). The four possible high schools include: Saratoga High, Prospect High, Westmont High and Lynbrook High.

To see any of these homes or obtain market research and information, Text or Just Call 408.252.8900 to speak with the San Jose Saratoga Lynbrook High Homes experts.

Can’t attend during open house? Text “Saratoga Open House” to 408-252-8900 or Just Call 408.252.8900 for a private showing.

If you’re interested in learning more about sneak peeks and exclusive opportunities for seeing and buying Saratoga San Jose Lynbrook Cupertino area homes, sign up for our VIP FREE trial at www.michellejudycarr.com.

Search All Santa Clara County Homes for Sale

http://www.mlsfinder.com/ca_reinfolink/michellecarrcroweabracrealhscdperecssres/index.cfm?action=refinesearch&searchkey=da9b8ac6-08b5-18a2-cc98-7d72f1f3e1a2

Search All West San Jose, Calif. Homes for Sale in 95129

http://www.siliconvalleydreamhomesforsale.com/community/area/West+San+Jose+95129/

Search All Saratoga, Calif. Homes for Sale in 95070

http://www.siliconvalleydreamhomesforsale.com/community/area/Saratoga/

Search All Cupertino single family homes for sale

http://justcall.kwrealty.com/listings/areas/28050/Community/Cupertino/propertytype/SINGLE/listingtype/Resale%20New,Foreclosure%20Bank%20Owned,Short%20Sale,Lease%20Rent,Auction/sort/mlsupdatedate+desc/

When you're looking for great values and bargains in Silicon Valley real estate - Cupertino, Saratoga, San Jose Lynbrook High Homes-Just Call 408-252-8900. To attend the SNEAK PEEK, homes or obtain market research and information, Text or Just Call 408.252.8900 to speak with the Cupertino San Jose Saratoga Lynbrook High Homes experts.

To see this or other Saratoga, Calif. area homes or obtain market research and information, Text or Just Call 408.252.8900 to speak with the Cupertino San Jose Saratoga Lynbrook High Homes experts.

© 2011 All Universal Rights Reserved.

All information deemed reliable but not guaranteed, buyer to verify.

Tags, blogs, Judy Carr, Michelle Carr, Michelle Carr-Crowe, Saratoga, Calif. homes for sale, Saratoga, Calif. real estate agents, Saratoga, Calif. distressed homes for sale, Saratoga, Calif. Foreclosures, Saratoga, Calif. Bank-owned homes

If you smell Vick's Vapo Rub, or Tiger Balm while walking around Saratoga Woods and other Saratoga CA neighborhoods, a Camphor Tree is probably being trimmed. Camphor, which gives Vicks Vapo Rub and Tiger Balm their distinctive odor, comes from Camphor trees like this one in Saratoga Woods Saratoga CA.

Lloyd Binen

Broker/Realtor/DRE 572654

Certified Realty Services

19200 Shubert Drive

Saratoga, CA 95070

Certified Residential Specialist (CRS); Graduate, Realtors Institute (GRI)

408-373-4411, or e-mail

Not So Wordless Wednesday; Home Wreckers in Quito Village, Saratoga CA.

Sometimes it's easier to tear it all down and start from scratch. That's what this Quito Village homeowner decided to do.

Perhaps the Quito Village home on Mc Farland Ave., a block away from this one, was the motivation. That one sold recently for $1,880,000 after it was similarly demolished and built anew.

These modest 1,100 - 1,300 sq. ft. homes were built in the early 1950s and sold at that time for under $20,000. Most have undergone some degree of remodeling and additions. The lots are 10,000 - 12,000 sq. ft., twice the "standard" R-1 6,000 sq. ft. lot so prevalent in subdivisions from the 1960s- 1980s.

In today's market, Quito Village homes that are in their original, completely un-remodeled, early-1950s condition, are roughly $700,000 - $800,000. A nicely remodeled home with room additions to about 2,000 sq. ft. across the street from this one is currently a Pending Sale; its List Price was $1,050,000.

It looks like this guy is going for the new construction. Even the foundation of this house was being removed.

Lloyd Binen

Realtor/Broker/DRE 572654

Certified Realty Services

19200 Shubert Drive

Saratoga, CA 95070

Certified Residential Specialist (CRS); Graduate, Realtors Institute (GRI)

e-mail

408-373-4411