About Santa Clara County, CA

•· Palo Alto Ca Single Family Home Market Update 11-13-09

•· As of today this is the snapshot of the Palo Alto single family home market:

83 Active listings

49 Pending sales

So, active listings continue to decrease. Pending sales are also down a little, but only 3 less than the decrease in active listings. Here are the interesting numbers for this week:

Under 1.5 million: Active 31 Pending 37 There are more pending sales than active listings in this group. That is an extremely healthy segment of the market.

2 million to 2.5 million: 5 active and 5 pending sales. This is also a very healthy segment.

Over 2.5 million: 21 active listings and two pending sales. The highest price pending sale is 2.6 million so there are still no pending sales over 2.6 million. This continues the pattern that the high end of the Palo Alto market is dead. There is no arguing this fact, so do not try. Sure, there may be a few off market sales, but in general nothing much is going on over 2.5 million.

My prediction for the upper end market is still the same as last week, and the previous week, and the months before that. I think that we are going to start to see some short sales if the seller's have overleveraged their homes and need to sell. Banks are starting to streamline the short sale process and the credit hit is not nearly as severe as a foreclosure. Added to that is the fact that the debt relief is not taxed by the feds leads me to believe that we will not see a wave of foreclosures in Palo Alto, but maybe a trickle of short sales if the employment picture does not pick up or if a homeowner needs to leave the area.

•· If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to www.marcymoyer.com and click on Cyberhome Home Valuation. You can then type in any address next to the search icon and get the county records.

If you need anything else please feel free to contact me. I am here to help you.

Marcy Moyer Intero Real Estate

marcy@marcymoyer.com

650-619-9285

www.marcymoyer.com

DRE 01191194

Lynbrook High Homes Update 11.21.09

Hello & an Early Happy Thanksgiving! This is Michelle Carr Crowe with your Lynbrook High Homes Update for 11.21.09.

The West San Jose with Lynbrook High Homes area continues to sell at a steady pace. Overall inventory remains low, which is expected for this time of year. Currently there are only 7 single family homes for sale, and 12 pending. Condos and townhomes remain steady with 6 for sale and 4 pending. There is 1 multi-family fourplex for sale.

Right now, I and my team have *5* different pre-approved buyers who want to buy in the in the next 30 days but the homes they want and need aren't on the market right now. Who do you know who's thinking of selling that could use my help? I have 2 families looking for large 3 bedroom townhomes in Regency Park, who would love to close and move in by Christmas.

New Tele-Seminar for MOVE UP/MOVE DOWN BUYERS re: the new Tax Credit

In the next 10 days I'll be announcing a tele-seminar specifically designed to inform and educate people considering moving up or moving down and eligibility for the new $6500 tax credit for current homeowners looking to make a move. All properties must close by the end of April.

SELLERS: Click HERE to Find Out Home Values BEFORE You Sell

BUYERS: *2* Not Yet on MLS 3 Br TownHome Opportunities in Monta Vista! All 3 are at least 3 Br and 2 Bath! All are in low-traffic locations, and feature 2-car garages, too. Please call 408.252.8900 to request a showing time. We must have your most current pre-approval letter on file prior to showing- you can email it to info@michellejudycarr.com or fax it to 408.378.9056.

VIP INVESTOR BUYERS ONLY: Call me regarding a potential teardown/remodel opportunity on a standard size (~6000sf) lot. Seller only wants to sell As-Is with no contingencies (getting reports is OK), preferably to cash buyer, reasonably priced.

BUYERS: Click HERE to Find Out Home Prices BEFORE You Buy

Get RE$ult$ Team THANK YOU Party!

Sat., Nov. 21^st from 9 am till Noon

Altas Realty Conference Center, 1190 S. Bascom, Suite #224 (Upstairs), San Jose 95128

Get RE$ult$ Team Open House

Open Sat. & Sun., Nov. 21 & 22, 1:30-4:30! Bright & Light! Willow Glen Delight! 2180 Cheryl, San Jose 95125

NEWLY REDUCED $$!

Try FHA Loan - $21,525 Down Possible!*

For Sale Single Family Homes: 7

For Sale Condos/TownHomes: 6

For Sale Multi-Family: 1

Pending Single Family Homes: 12

Pending Condos/TownHomes: 4

$OLD Single Family Homes: 6

$OLD Condos/TownHomes: 1

To receive a FREE subscription to the full Lynbrook High Homes Update, including information on homes not yet on the open market, send an email request to subscribe to lynbrookhomes1@hotmail.com or info@michellejudycarr.com.

To see any of these homes, Just Call 408.252.8900.

Curious about home values and sales in your area? Wondering how prices are in the area you'd like to move to? Simply click on the link below, fill in your current address and submit it to obtain a free, detailed market snapshot of what's happening right now in your area. To find out about values...

Click Here to Find out Home Values in Your Area!

SNEAK PEEKS! 1 Lynbrook 3 Br! 1 Monta Vista 3 Br! Showings Daily! RSVP to 408.252.8900!

2180 Cheryl, Willow Glen NEWLY REDUCED! $612K! Open Sat. & Sun., Nov. 21 & 22, 1:30-4:30! FREE GIFTS!

4090 Yellowstone, West San Jose $OLD! Multiple Offers! Asking $599K ... $OLD! Multiple Offers $651K!

Thank you for your time in reading this. Aloha & God bless you!

Here are my observations of October's transactions and market actions for Santa Clara, San Mateo, Santa Cruz, and Monterey counties. You are encouraged to leave your comments and questions or even update us on what you are witnessing in your neighborhood or area.

> Market continues showing strength and improvement -- Market activity has continued to display improvement for six months! For instance, in Santa Clara County, October saw an 18% increase in closings over the same month last year. My analysis of the transactional information reveals:

* Buyers continue to trip over each other to submit offers for homes in the more affordable areas of Santa Clara, San Mateo, Santa Cruz, and Monterey counties. Many offers submitted are for all cash or have substantial down payments. There are still only 22 days of unsold inventory on single family residences in Santa Clara County with a price of under $450,000! For those in the range of $450,000 to $600,000, there is only 33 days of unsold inventory. It is similar in San Mateo County.
* The supply of homes available for sale (inventory) continues to trend lower in each of the four counties without exception. This trend has been virtually uninterrupted since February 2009 and it is still more pronounced in Santa Clara and Monterey counties.
* The sale price to list price ratio continues above 100% in Santa Clara County and stands at 100.8%, continuing an upward trend; San Mateo stands at 99.3%.
* The Days of Unsold Inventory (DUI) continues to improve generally in each county for single family residences and condos/townhouses, respectively. Santa Clara's DUI stands at 47 and 44, San Mateo's DUI is 69 and 77, Santa Cruz's DUI is 108 and 105 and Monterey's DUI is 70 and 83.

> Super-heated Seller's Markets? -- You bet! East Valley, South San Jose, Blossom Valley, Evergreen, Santa Teresa, Santa Clara, North Valley, Milpitas. To refresh you, characteristics of a seller's market are shorter time on the market, fewer number of homes available for sale, higher probability of multiple offers with many sale prices exceeding list prices and a tendency towards price appreciation.

> Buyer's Markets? -- For Santa Clara County, we see buyer's markets in Saratoga, Los Gatos, and Los Gatos Mountains. Los Gatos exhibits the highest Days of Unsold Inventory in the county at 141. To refresh you, characteristics of a buyer's market are longer time on the market, higher number of homes available for sale, lower probability of multiple offers or even an offer with most sale prices below list price. The tendency is to have price depreciation or stable prices at best case under this market condition.

Where do I get "Seller's" and "Buyer's" market information? This is not an opinion thing but a calculation I make using the number of homes for sale (supply) and the number of sales (demand) in the prior month which results in days of unsold inventory (DUI). Additionally, this is not based on price levels but a supply-demand relationship. For instance, the higher-priced area of Palo Alto/Mountain View/Los Altos exhibits a DUI of only 56 which translates into a balanced market.

> Median prices -- Took another jump upwards last month median price now stands at $593,250 for Santa Clara County and $702,000 for San Mateo County. These are UP about 8% from the same month a year ago in Santa Clara County and down 1% in San Mateo Ccounty. I coach my clients to no use an entire county's median price level to decide on whether to buy or sell. To formulate an effective strategy, I use analysis of the supply-demand characteristics on a much smaller area down to the neighborhood in most cases.

> Tale of Two Markets -- Sales of affordable homes in Santa Clara County less than $450,000 level have gotten even hotter than the past few months. There are just 21 days of unsold inventory for single family residences below $450,000 and 41 for homes with prices from $450,000 to $600,000. As the price ranges increase, the DUI increases in what we call a normal pattern. For Santa Clara County, high-priced homes in the $2,500,000 to $5,000,000 range showed a DUI of 242 or about eight months of supply whereas in San Mateo County showed a similar result of 192.

> Polarized Market -- Sales of higher-priced homes (above $1,000,000) are sluggish at best, depending upon area. Last month, there were no sales of $5+ million homes in Santa Clara County and just one in San Mateo County (4.2 years of unsold inventory). With slow movements in higher-priced homes and a white-hot situation in lower-priced homes, I call this a polarized market.

> Forbes Says We're Safe -- According to an article in the Silicon Valley Business Journal, Forbes Magazine reported that San Jose-Sunnyvale-Santa Clara was the 7th safest area in the country. Factors included were: violent crime, workplace fatality rates, traffic death rates and natural disaster risk. Silicon Valley was the second safest area behind the Twin Cities of Minneapolis-St. Paul.

> Sellers Be Sooner -- I continue to maintain my recommendation for sellers of higher-priced homes, especially those above $1 million that they should consider selling sooner and having an initially more-aggressive list price as the market usually softens when we go move into the holiday season. In any case, check with a Realtor knowledgeable about the technical aspects of the market conditions to guide you in positioning your home for maximum activity and price while minimizing time on market.

For those considering a purchase of a home in an expensive area like Los Altos Hills, Los Gatos/Monte Sereno, Saratoga, your time is getting closer! Be ready but I think we'll see list prices reduced and sale prices dropping as we get into the holiday season this year. Most years we experience more activity in the early spring and spring so the best time for a purchase is coming up soon!

> Investor's Corner -- Activity continues to trend upwards as more and more investors reenter the market, many of them are completing all cash purchases, especially in the more affordable price ranges. For Santa Clara County, there were 88 sales during the month with 47 of them in the less than $600,000 price range as that price range had a DUI of just 37 whereas the DUI for residential investment properties above $600,000 jumps to nearly a year. For investors who have the ability to purchase higher-priced properties (above $1,000,000), there is about one year of unsold inventory at current sales demand and represents a BUYER'S market as I'm sure there are at least some motivated sellers in that range.


Thanks for reading my blog. I'm Tom McEvoy -- Let me know your comments, questions, observations you may have.

Thank you, Clients and Friends! You are the Heart and Soul of My Business and I invite you to join me and the Get RE$ult$ Team for our 2nd Annual THANKSGIVING party!

It's this Sat., Nov. 21st, from 9 am till noon at the Altas Realty Conference Center (Upstairs in Suite #224), 1190 S. Bascom, #224, San Jose 95128.

We'll share treats, make crafts and have fun ... PLUS FREE FAMILY PHOTOS with Santa and/or Mrs. Claus!

Look forward to seeing you there. Oh, and feel free to bring friends, neighbors or colleagues who