Market Update

I have been attending open houses to better inform my clients how the market is going.

So here it is. The home I held open last month in my community Berryessa San Jose, California

Priced at $729,000 Tri Level home was a short sale and multiple offers. Since then a couple of homes have come on the maret and sold quickly, they were short sales also.

Of course they haven't closed yet due to the paperwork of lenders and banks, so the true sale price I have not seen yet.

Yesterday I went into a home that was listed for $829,000, this home had no sign, brand new listing and offers were due to come in last night.

This tells me, as I keep on saying.

1. Distinguished schools do not suffer from market trends
2. Neighborhood Realtors are the best suit for selling a home in a distinguished school areas

I have got to say the tri level I held open last month was of course needing a quick sale, but was the quick sale idea a good one?

When a smaller home sold just as quick with a $100,000 price fluctuation.

There was another home in this same neighborhood (different builder) that sold for $580,000 in a few short weeks, from a non neighborhood realtor.

So what does this mean for the sellers who are choosing to short sale their homes?

Do not hide from the inevitable, please make the choice and call a Realtor who is really knowledgable about where the home is, I can't help but think these sellers will be paying taxes on the deal the buyer got.

Oh and by the way the open house was really busy, yes the house that sold for $829,000.

My prayers are with those who are losing their homes. Please give me a call if I can help!

DeniseStuart

Coldwell Banker

408-893-3400