The absorption rate is the amount of time it would take for the market to "absorb" or empty out the current inventory if homes continued selling at the same rate with no new homes coming on the market. It can be measured as days, weeks, or months of inventory. This is one of the most helpful ways of getting a pulse on the market in Silicon Valley real estate (or anywhere else)!
Below please find a chart which shows the months of inventory for single family homes in the Almaden Valley area of San Jose.
What is odd here is that the market seemed to have been steadily improving and then suddenly took a severe turn for the worse in September closings (representing sales that happened in August). Is this a fluke or a new trend? We'll have to see more data to know - but it's not encouraging.
Our MLS provider, MLSListings.com, has not yet given us the statistics for September's closed sales in Silicon Valley, so I've done a little of the data work myself. Below, please see a graph displaying the "months of inventory" or "absorption rate" for Saratoga, California.
The National Association of Realtors uses 6 months as a benchmark for when it flips from one type of market to the other. Less than 6 months is considered a sellers market, and more is a buyers market. Saratoga real estate is very pricey and offers fantastic schools with exceptionally good API scores, so this area is nearly always in demand. While these numbers may be viewed favorably on the national scale, having more than about 4 months of inventory among single family homes feels like it's a buyers market.
It really depends on the home, location, condition, and marketing/pricing as to whether a home will really take 5 months to sell. The best homes will go in 3-4 weeks, despite the average numbers.
Sometimes we hear so much bad news about the real estate market that we are convinced that the end of the world is just around the corner.
But is that the case?
In parts of Silicon Valley, the real estate market is improving, and in other areas it's flat or worsening.
Los Gatos was one of the last places to feel the impact of the current crisis, and right now, things seem to be worsening overall in my fair town. My sense, though, is that we are simply working through the shockwaves that didn't reach here as early as some other places. Cambrian Park is improving - it is adjacent to Los Gatos and is more affordable, but it felt the kick from this market long before Los Gatos did.
If you'd like to read more about the current climate for homeselling in Los Gatos, please visit my Live In Los Gatos blog and view a post from this week, Mini Market Update for Los Gatos: How Long Do Homes Stay On The Market?
The stats aren't out yet from MLSListings.com, our MLS provider for the Silicon Valley Real Estate Market, so I did a little number crunching of my own to see how things are looking.
Cambrian Park, a district of San Jose bordering Los Gatos, Campbell, Willow Glen and Almaden Valley, is a good barometer for Silicon Valley and tends to represent a good middle point for pricing. Want to know how Santa Clara County is doing? Check Cambrian. It's usually in step with the averages and medians countywide.
That said, I wanted to see the absorption rate, or "months of inventory" for single family homes in Cambrian. The absorption rate tells us how long it would take to sell off the current inventory if no new homes came on the market and things continued selling at this pace.
In Cambrian, the news is very, very good!
The absorption rate for September is a low 3.71 months, which is the lowest point of 2008 so far and it shows a steady trend of declining months of inventory. For the National Association of Realtors, anything under 6 months is a sellers market. Here, we are used to a quick market so 4 or 5 months doesn't feel fast to us.
Despite what NAR says, I would not call it a seller's market in Cambrian Park. This, to me, looks like a "healthy market" or "balanced market". It is a time of good opportunity for both buyers and sellers.
Would you like information on your own home, or your plans and hopes in buying one? Please contact me today!
Belwood of Los Gatos is a friendly, active neighborhood that sits on the far eastern edge of the Los Gatos town boundaries. The neighborhood runs from Harwood Road to Belgatos Road and Blossom Hill Road to Belridge. Nearby, and often thought of also belonging to Belwood, are the Belgatos and Surmont areas.
The neighborhood has two great focal points: Belgatos Park (see slide show of Belgatos Park here) and the neighborhood cabana, which features a pool, a clubhouse, lawn areas, and hoops.
The cabana is also home to the Belwood Dolphins swim team and they are the pride of the neighborhood!
The homes in the Belwood of Los Gatos neighborhood are generally between 1800 and 2800 square feeet, though some are larger or smaller. This year they are selling in the range of $1,100,000 to about $1,2400,000.
Some of the homes in Belgatos and Surmont are larger, or sit on larger lots or perhaps even have views, and can run as high as about $1,800,000.
There are other plusses to the well kept area too - one is the close proximity of shops and restaurants, including Walgreen's, Jasmine Chinese Food (good take-out), and Los Gatos Pizza.
If you'd like to know more about this great corner of Los Gatos, please visit BelwoodOfLosGatos.com.
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Helping nice folks to buy & sell homes in Silicon Valley (San Jose, Los Gatos, Saratoga). Cutting edge technology, personal approach, experience & high level of real estate education to assist you.
For my complete resume, please visit my page on my main website, "About Mary", which includes my extensive real estate education and background in Silicon Valley real estate since 1993, a list of my many designations and certifications, honors and awards, and much more information. Or enjoy viewing a Video Introduction of Mary Pope-Handy (appx 3 minutes).
Personal Information
I loved my work in the areas of religious education and ministry prior to having my two children and spending a few years at home with them. Living in Silicon Valley, though, is quite expensive so in 1993, I changed careers to better provide for my family and followed my mother into Real Estate. My mother had been a REALTOR® in Santa Clara County for 40 years, so I grew up with it.... It was a natural fit for both my interest in helping others and the knowledge I'd gained from my mother over the years.
Volunteer work has always been important to me and I have used my education and background in theology and religious education in related volunteer activities as time has allowed in the past. In recent times, assisting some elderly relatives in my free time took a lot of precedence though. Since I have spent so much time with seniors, I recently earned the related real estate designation: The Senior Real Estate Specialist (SRES). This year I am getting back into the volunteer work at my daughter's school, Notre Dame High School in downtown San Jose.
When not busy with work, family, or volunteer efforts, I am often found enjoying walks in my Los Gatos neighborhood, reading, corresponding with friends & relatives, or brushing up on the Italian language. I love to collect ghost stories and have a site dedicated to the topic of Haunted Real Estate: http://www.hauntedrealestate.com/ . Travel is my passion. I am thankful that Jim, my husband, and our children, Brian & Clair, are enthusiastic about her volunteer and real estate work. These three are my biggest cheerleaders and the reason I want to succeed at everything I do.
Memberships
I am a member of
All of these associations uphold a strict code of ethics and ensure that their members are up to date on the latest marketing techniques and legislation affecting real estate.
Professional Philosophy
I find that clients here in Silicon Valley are highly sophisticated, and above all they need detailed information in order to make good choices in buying or selling. I work to educate and guide my clients to making the choices that will enable them to benefit the most from the market and their own situation.
Dedicated to the highest level of professionalism, I stay current on everything affecting buying and selling homes here - disclosure issues, market conditions, ever-changing contracts, etc. I listen to my clients and am responsive and accessible. I use cutting-edge technology to both stay in touch better and to give my clients the edge by having more information. My hard work, dedication and high-tech approach compliment the soft touch manner I take. I am not pushy and do not use a high-pressure approach to sales; this is simply a matter of treating others the way I myself want to be treated. My clients refer me frequently, as they recognise the benefit of working with someone knowledgeable, experienced and dedicated, but most of all who puts their best interests first.
My areas of expertise include the following:
1. Every aspect of preparing a home to sell, including those with difficult situations:
working with long-distance sellers
working with seniors who are selling and downsizing
homes that need staging help, possibly a lot of it
sellers who are not well or need extra time and attention
tenant occupied properties
2. High-Tech Marketing of Homes & High Tech Tools for both Buyers & Sellers
Both traditional and internet marketing
All listings get massive web exposure
"Organizer" on www.PopeHandy.com to keep track of the market
Numbers crunched by city and region monthly & available by subscription/password
Emails responded to very, very quickly
3. Traditional Skills Valued by Buyers & Sellers
Negotiation
Communication
Pointing out potential "red flags" to you to avoid problems (whether buying or selling)
Paperwork guidance
Being your advocate and guide - putting your best interests first
4. Geographically, all of Silicon Valley, with particular strength in the west valley communities
Los Gatos
Saratoga
Cambrian Park
Almaden Valley
Campbell
5. People I work with...
Nice Folks
Honest Folks
Folks Committed to Buying or Selling
also, I tend to do very well in helping:
Folks over 50 who may be downsizing, Folks selling their homes to move to retirement communities, and Seniors
High-Tech Folks (engineers or those who love data and info online and by email)
I don't rush, I don't push. I give lots of data, allow plenty of time, and give guidance so YOU can make an informed decision.
Words from my clients
Mary is the best agent we have ever had! We have bought and sold homes in four different states, and this transaction was one of the best. Mary is very easy to work with, she is very professional and, most of all, she does what she says she is going to do! Actually, she goes beyond that because she makes sure that everything gets done correctly (even things that are the responsibility of the other agent). We have the highest regard for Mary, both as a great person and as a wonderful Realtor.
Ruth & Michael - 2006
San Jose (downtown, Vendome)
We've lived in the bay area for over 8 years and had previously considering purchasing a home but being first time home buyers we had been tentative and uncomfortable with the process. We found Mary on the web and initially corresponded via email. We were very pleased with her quick, honest and informative responses that we took the next step and decided to meet Mary in person. The initial meeting went very well and we were impressed with Mary's knowledge and helpful advise especially with location, schools and our children's safety. Once Mary had an idea of what we were looking for she was willing to preview houses for us and even considered things that we may not have thought to look for. We found a great home in Blossom Valley and Mary was present and willing to answer questions every step of the way. She scheduled inspectors and waited for the inspectors for us to minimize our time away from work. Mary was always available by phone or email and still now, 3 weeks after we have moved in, she remains in contact with us and offers her help as we become accustomed to being home owners. We never felt pressured or as if we were just clients to her. She is personable, honest and caring and we're confident that she saved us money at every phase of the process. We could see her genuine happiness for us when we closed on the home and we highly recommend using her to buy or sell a home.
The Nunes Family - 2006
San Jose (Blossom Valley/Santa Teresa)
My wife and I live in San Jose, and lived in an apartment after we were married. When we decided to buy a house (this would be in the spring of 2002), a friend of ours recommended Mary to us. We didn’t have a clue how to start, but Mary guided us through from the very beginning, that we should get approved for a loan first and the like. Then she traipsed all over the county, looking at houses for us, and wasn’t afraid to tell us when a house probably wouldn’t be a good idea, suggestions on neighborhoods, distances to the freeway, school districts and pretty much everything. Once we did find a house(May/June of 2002), she again stepped us through every bit of the process, the complete home inspection, the warranty, everything.
She also was constantly available, email and cell phone to answer any questions we had, and especially to reassure us. She also was very very flexible as to when she could help (since I was usually not available till after 5pm, or on the weekends.) Then this past summer (2005) we sold our first house and bought another, and she was even better. The person who bought our house used a real estate agent who had just gotten his license, and often he wasn’t sure or didn’t understand the processes and documents, and Mary had to guide him AND us through the whole thing, but it ended up fine thanks to her hard work (and the other agent didn’t do much, so she had a lot more work than she probably should have had.) Then buying our current house this summer: the sellers were a pain. They didn’t want to do the little things to make it easy, they only offered a small commission, and other issues. Mary was the one who dealt with all the little inconveniences to make it easy – even running all the way to our house several times to get documents signed and out as quickly as possible. And here’s one last thing: When we moved in, there were some holes in the linolium underneath where the old people’s washer and dryer were. As soon as Mary saw them she was on the phone to make sure that they knew that they were responsible for paying to fix them! AND when the people didn’t hire cleaners to clean up after they moved out (even though they said they would) - Mary came over with her kids and helped us clean the whole house! She has always gone extra extra miles to make sure that we were protected and make sure that we understood everything that was going on, and doing what was best for us, even if it meant she had to do extra work, or take a smaller commission (which happened on BOTH the houses we ended up buying.) I can’t say enough good things, and I know how scary it can be, every time, not just your first!
Tom - 2005
San Jose (Cambrian & South SJ)
"Hiring Mary Pope-Handy to sell our Father's home was the best decision I made all year. Mary made fixing up and selling my Father's house as painless and smooth as humanly possible. She stayed in constant communication with us by phone, email and fax throughout the entire process and made excellent recommendations every step of the way. She is an expert in every sense of the word and I give her my highest and most appreciative recommendation. Thank you for everything Mary!"
Marjorie - sold long distance in 2005
Santa Clara
"Mary was extremely helpful to my family and me as we recently sought a new home for my mother-in-law. Mary is very customer-focused, is well-attuned to market conditions, is detail-oriented and communicates well with her clients. It was a pleasure working with Mary, from start to finish."
Dan - early 2005
Santa Clara
(Note to my manager.) "My name is Serdar and my wife and I just recently purchased a home with the help of one of your agents, Mary Pope-Handy. I just needed to write to you about the great experience we had working with Mary. Her professionalism and candor helped us survive the hectic South Bay housing market and find our 'dream home.' Since we were kind of new to the area, she took the time to educate us of the various neighborhoods and helped manage our expectations. I truly enjoyed every minute of our house-hunting trips with Mary. I plan on recommending her to everyone I know as well as working with her on our future home purchases."
Serdar & Shannon - early 2005
San Jose (Willow Glen)
"Mary and I had corresponded via e-Mail for quite a while before we made a decision to sell our home in Los Gatos California. I was impressed by the professional tone of her communications and that she provided good data without pressing the sales pitch. As soon as I met her in person, my instincts were validated. She came across as straighforward, genuine and very knowledgable. What I like most is that she didn't insult my intelligence by walking me laboriously through every single page of data like same real estate sales people had.
It didn't take us long to select Mary as our Selling agent - we were not disappointed. She acted with complete integrity throughout the process. I should explain that she had 2 major challenges in this whole transaction: 1. My husband, who initially was not in love with the idea of selling our home and practially freaked out at the idea of people actually coming in to view the home. She handled him with tact and humor - a great example of her people skills! 2. Our house was located in a good area but next to a freeway which didn't make it easy to sell. She helped us establish a realistic price, played up the strong points in her advertising and really took pains to mitigate this obstacle. Consequently, the house was sold in just over a month at a price acceptably close to the listing price. In addition, Mary facilitated all the necessary inspections and reports and provided many additional services to help us complete the move out of our house. (She even commandeered her husband to help dispose of some of old paint cans from our garage!). We were on a very tight schedule for closing escrow etc. and she manouevred the process flawlessly. From start to finish, I was consistently impressed with her level of professionalism and service so consequently, I would not have any hesitation in recommending her services."
Judy & Ian
Los Gatos
"As a homeowner and part-time real estate investor since 1964 I have occasionally needed the services of a real estate agent. I can state, without reservation, that Mary Pope-Handy is far and away the most thoughtful, informed, thorough and helpful agent I have worked with. If we could clone the perfect Realtor Mary would be our model. I recently reminded her that her initials M.P.H. also stand for 'making people happy.' She has made me very happy time and time again."
Karen - sold 2 homes with Karen
San Jose (Blossom Valley)
Mary knows the real estate business. She excells at every aspect of a home sale: property preparation, staging, seller protection, advertising, closing, and getting the best price. She is conscientious and works very hard to get the job done efficiently. I give her my highest recommendation.
Rob C.
Rob - sold long distance
San Jose (Cambrian)
"From the very first instant I began searching for a real estate agent, Mary Pope-Handy shone through. At first it was the expedient way she got back to me, and every time we communicated, she left no questions unanswered and NEVER left me waiting.
I was selling a home from quite a distance and there were a lot of stressful issues to deal with, as well as legitimate concerns and fears. She was on top of everything before I even had to ask, and I felt a sense of comfort from her from the beginning. Her professional manner, together with her honesty and hard work, enabled me to get through the selling of my home with minimal amounts of stress and I feel she guided every step in a manner that gave me confidence I had chosen the right person."
Steven - sold long distance
San Jose (Cambrian)
"We recently sold a home with Mary Pope-Handy. We learned from her how she approached real estate, her ethics, and the type of clients she preferred to work with. We would highly recommend Mary Pope-Handy to anyone looking for a competent, hard working agent (and who isn't?). We started the transaction as agent/client, and have ended up friends."
Robert & Shirley
San Jose (Cambrian)
"Mary was a strong advocate for us. She knows her business and kept us informed at every step along the way. Besides being very friendly and easy to work with, she is a real pro! I would not hesitate to recommend her to anyone selling their home."
Michael
Los Gatos
"Mary's conscientious effort and follow-through were very appreciated every step of the way. From the listing of the house until its close and even after, Mary has remained accessible and responsive to our concerns."
Stacy & Steve
Los Gatos
"Mary was committed to providing excellent service and professional counseling, especially a deadlines approached and unforeseen circumstances arose. She worked tirelessly with us on many occasions, through a weekend or into the evening, to follow up on an opportunity or to assist during the escrow. Most importantly we never doubted that our interests were her first priority."
Michael & Juli - 2 sales (bought and sold)
San Jose (South SJ) & Los Altos
"Without a doubt, Mary went well above and beyond our expectations. What has impressed us the most is the way that she consistently communicated with us and the many things that she did after the sale of the house. We have been truly impressed with Mary's professionalism her knowledge of real estate and the market and her strong work ethic. Besides all of this, Mary is just plain a very nice person!"
Mark & Patricia
San Jose (Cambrian)
"Mary's professionalism and the manner in which she handled everything that arose was commendable. She kept me informed and offered assistance for any matter in which she could make this transaction much easier for me. She seemed genuinely concerned about my welfare. During the difficult situations that occurred with the sale of my home, Mary was reassuring, providing information which instilled confidence that everything would be cleared and settled."
Rosemary
Sunnyvale
"In considering the many things Mary Pope-Handy did to further the closure on my property I would have to rate her conscientious follow-through as outstanding. It was not an easy sale to bring to fruition due to the fact that there were several people involved on the buyer's side. It was a purchase made by the father of the interested party with two other Realtors working on behalf of the buyers. This made for complications. This was my first contact with Mary Pope-Handy and she served as my representative in this sale. I had the added problem of an unexpected broken ankle..this meant she had to fill in for me in many instances as I was pretty much bed ridden. It turned out that I chose the right agent. She did an excellent job on my behalf. Mary was dilligent right down to the end of the transaction. She so impressed me that I will use her for consequent property sales and or purchases without hesitation and I will recommend her to others needing a top notch realtor. As a former school Principal I am accustomed to evaluating performances and Mary went to the head of the class in this regard."
Kathryn
San Jose (Cambrian)
“We chose Mary to sell our house when we decided to leave California and move to Virginia. The week that the first open house was to take place, we flew to Virginia to search for our new home, knowing that things were in good hands with Mary. We were in Virginia only a few days when 9-11 happened, one of the planes hitting only miles away from where we were staying. Obviously distraught, and stuck in Virginia since all planes had been grounded, we relied on Mary to keep us abreast of our house sale. We worried that the market would fall apart, that no one would come to our open house, and that we would be stuck with two houses on opposite ends of the country! Mary was incredible. She answered each call and e-mail immediately (and there were many!), kept us up-to-date on potential buyers, and calmed our fears. It was Mary’s wonderful responsiveness that really helped us get through that very difficult time.”
Jan & Robin - sold long distance
San Jose (Cambrian)
"Mary is worth her weight in gold. We felt that we could not have had a better REALTOR® representing us in the sale of our home. Our home was sold in two days and at full price!!! Mary was honest, straight forward and beyond reproach. She was always available and was there when things got a little hairy. Mary even took us to the airport. But the best was when she had someone come in and clean the house after the movers left. We recommend Mary highly!"
Joe & Trudy
San Jose (Cambrian)
"Mary Pope-Handy's knowledge of the needs of her clients has enabled her to become a highly respected Realtor. She helped me find a home that fit my needs in a very short period of time. It has been a pleasure working with her."
Joyce - sold 2 homes, bought another with Joyce
San Jose (Cambrian)
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