About Cupertino's Monta Vista High School Area

Here are the highlights of September transactions and market comments for Santa Clara County real estate and San Mateo County real estate. Your comments and questions are always welcome. If you see something in your neighborhood that you are curious about or have a question, please don't hesitate to share with us. You may leave comments here, or contact me through my website.

> Market Overview -- The last four months has shown a general decline in the amount of sales. Closings of single family residences (SFR) in Santa Clara County decreased and are at levels just below those seen in either September of 2009 and September 2008 but above the level seen in September 2007. Same holds true for San Mateo County which saw a lower level for the past three months. My analysis of the transactional information reveals:

* The supply of homes available for sale (inventory) is trending upwards in both counties these past nine months which is usual for this time of the year. However, the rate of increase has slowed significantly in Santa Clara County and is well below record levels. San Mateo County inventory, while also trending higher for the past nine months, is close to record levels. The market overall remains more positive in Santa Clara County.

* More than 40% of sellers in Santa Clara County get at least list price for their homes! In San Mateo County, the corresponding percentage is a bit over 30%. This is another indicator that the overall market remains stronger in Santa Clara County. Also, these indicators have drifted lower and underscore a slowing market in both counties -- usual for this time of year.

* Days of Unsold Inventory (DUI) continues an upward trend translating into a slowing market. However, as we enter October, we've seen a reversal of direction so we'll have to see if it continues. As we have discussed, DUI is conceptually the inverse of inventory turns ratio and represents a calculation using both supply and demand. A higher figure for DUI, then, means the market is becoming weaker. For September, Santa Clara County had a DUI of 74 for SFR, 88 for condos/townhouses and 172 for multi-unit properties. San Mateo County had a DUI reading of 104 for SFR's and 140 for condos/townhouses. Notice that all readings were more positive for Santa Clara County.

> Seller Markets? -- For Santa Clara County the hottest (seller) market areas are South San Jose, East Valley (SJ), Milpitas, Evergreen Valley (SJ) and Cupertino. I very-recently listed a Cupertino home in the Monta Vista High School attendance area and had some 250 people through for the two open houses. It generated multiple offers with a sale price exceeding list price. A seller's market has shorter time on the market, fewer number of homes available for sale, higher demand by buyers with a tendency to have multiple offers and sale prices generally exceeding list prices with a potential of price appreciation.

> Buyer's Markets? -- For Santa Clara County, we see buyer's markets in Los Gatos, Almaden Valley (SJ), Saratoga, Campbell, and Willow Glen (SJ). Los Gatos is my current "Best Buy" area in the county. What makes a "buyers" market is the relationship of supply to demand -- simply put as higher supply and lower demand. The characteristics of a buyer's market is a longer time on the market, higher number of homes available for sale, lower demand by buyers which translates into a lower probability of multiple offers and a tendency for price stabilization or even price depreciation.

Where do I get "Seller's" and "Buyer's" market information? This is not an opinion or based on price levels 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).

> Median prices drop a bit -- Santa Clara County median price for SFR's decreased slightly after five months of increase this year. It stands at about $625,000. The median price for condos/townhouses dipped a bit more in percentage terms. San Mateo County's median price for SFR's has dropped to just above $700,000 from the $790,000 level. I continue to advise my clients NOT to use an entire county's median price level to decide whether to buy or sell or time the market but use the trend information in a general manner. To formulate an effective strategy, I use analysis of the supply-demand characteristics of the neighborhood under consideration.

> Boo! Buyers get ready -- Historically, a good time to buy is approximately at the time of Halloween or a bit after. I don't see it any different this year. As we enter the early holiday period just before Thanksgiving, those homes on the market, in all likelihood, have to be sold by their owners.

Need help with understanding the market in your area? Give me a call or email me for a no-obligation consultation and research to arm you with market intelligence to help you make a better, more-informed decision.


Thanks for reading my blog. I'm Tom McEvoy, Realtor with RE/MAX Santa Clara Valley -- Let me know your comments, questions, observations you may have or any future topics you'd like me to address.

About the Monta Vista Area of Cupertino, California Zip Code 95014

by Michelle C. Carr-Crowe and the Get Re$ult$ Team, Your San Jose Saratoga Lynbrook & Monta Vista Cupertino Schools Experts

Monta Vista (which means Mountain View in Spanish) is named for the wonderful area of Cupertino in zip code 95014, whose residents are blessed to attend Monta Vista High Schools. Both Monta Vista and neighboring Cupertino High School are part of the Fremont Union High School District, and boast award-winning elementary and middle schools of the Cupertino Union School District-together loosely defined by many as "Cupertino Schools."

These select Nationally-Recognized high schools in Silicon Valley not only benefit students with excellent education; homeowners in this particular area with these "destination schools" are seeing their values holding much more steadily as compared to most of the County during the currently challenging market of nationally depressed home values. Foreclosures and short sales are extremely rare in Monta Vista. The few that have occurred nearby have primarily been in the Sunnyvale zip codes of 94085 and 94089.

Monta Vista High School in Cupertino falls within parts of both Cupertino zip code 95014 and Saratoga zip code 95070. Lynbrook falls within Saratoga zip code 95070 and West San Jose zip code 95129. Cupertino High falls within Cupertino.

The Monta Vista/ Lynbrook area features numerous parks, walking trails, tennis courts, several neighborhood associations and several branches of the nationally-recognized Santa Clara County Library, as well as a reknowned Cupertino Fitness Center. one in San Jose, one in Cupertino and one in Saratoga. Stores include Safeway, Whole Foods, Cupertino Square, Tin-Tin Market and Walgreens along with restaurants, tutoring centers, dance and music learning centers.

The Monta Vista neighborhood shares traditional values of education, family and sober investing. It is filled with many notable yet humble "Millionaires Next Door"--doctors, dentists, professors, engineers and entrepreneurs who enjoy the Monta Vista neighborhood's easy access to top-performing Cupertino Union/Fremont Union District schools, as well as convenient commute and value.

Web Sites you may find helpful:

Great Schools - a resource for searching & comparing school results, including parent input http://www.greatschools.net

Cupertino Union School District (elementary & middle schools) http://www.cupertino.k12.ca.us/

Fremont Union School District (high schools) http://www.fuhsd.org

Cupertino Schools & Lynbrook High Real Estate Experts http://www.lynbrookhighhomes.com

Some helpful area phone numbers and contacts include

Michelle C. Carr-Crowe and the Get RE$ult$ Team of

Judy Carr & Asc., Inc. / Altas Realty

1190 S. Bascom, #118, San Jose, CA 95128

Phone : (408) 252-8900

www.lynbrookhighhomes.com

www.michellejudycarr.com

First American Title Company

20545 Valley Green Drive

Cupertino, CA 95014

Phone : (408) 873-2900

www.firstam.com

The Home Church
1799 S. Winchester Blvd.
Campbell, CA 95008
Phone : (408) 370-1500

www.thehomechurch.org

© 2009 Michelle C. Carr-Crowe, All Universal Rights Reserved. No portion may be copied, forwarded, re-blogged, edited or otherwise reproduced unless it includes the following FULL paragraph acknowledging source and credit. Violators will be prosecuted to the full extent of the law, including fines, penalties and cease and desist orders.

This information was prepared and compiled by Michelle C. Carr-Crowe, a Silicon Valley-based multi-million dollar real estate consultant. Her designations include: Accredited Buyers Representative (ABR), Accredited Luxury Home Specialist (ALHS), Accredited Staging Professional (ASP), Certified Distressed Property Expert (CDPE), Property Marketing Expert (PME), Real Estate CyberSpace Specialist (RECS), and Senior Real Estate Specialist (SRES). In addition, she is an internationally-published freelance writer with over 1,000 articles in print and online. Visit her online at www.michellejudycarr.com or www.lynbrookhighhomes.com. For RE$ult$ ... Just Call ... (408) 252-8900.

Updated 07.04.10

Act Now! First-Time Cupertino Homebuyers Alert: Just 25 Days Left to Qualify for FREE Federal Tax Credit

by Michelle C. Carr-Crowe

First-Time Cupertino Homebuyers Alert: Urgent! There's only 25 days left to qualify for the U.S. Government's free federal tax credit of up to $8,000. If you or someone you care about has been “on the fence” about buying a home in 2010, I’ll get right to the point: there are financially sound reasons to carefully consider buying in spring 2010.

For example, 2010 is a good year to buy in San Jose, Campbell, Los Gatos, Palo Alto, Sunnyvale, Santa Clara, Saratoga or Cupertino IF you meet both of the following criteria:

1) You plan to buy a property for $800,000 or less

2) You have not owned a home in the last 3 years

3) You could benefit from the additional tax write-offs for mortgage interest

Currently, interest rates remain low. Even if prices go down later in the year, experts predict that the expected higher interest rates cost will make home ownership less affordable.

For example, an $800,000 home with 20 percent down ($160,000) means a loan of $640,000. At an interest rate of .05 percent, including allowances for principal and interest, the monthly investment amount to buy this Cupertino home would be ~ $3,435.66. When you include allowances for taxes and insurance, it results in a monthly investment of ~$4,522.33.

There are additional qualification requirements; to find out more details, send an email to info@michellejudycarr.com.

Right now there are *3* Single-Family Home Properties in Cupertino with Monta Vista for UNDER $800,000!

Click here to check your own home affordability with our complimentary calculator.

FYI, there are additional specific benefits for people who are 55 or older, blind or disabled, as well as those who and plan to sell in Santa Clara County and buy a home for the same price or less in Santa Clara County or one of six other participating counties in the Proposition 60 & 90 program.

Currently, the limited-time tax credit available to first-time homebuyers buying a property in 2010 has an important caveat: the home MUST be in contract by April 30, 2010, and it absolutely must close by June 30, 2010 to qualify.

This window is only open for a mere 26 days.

Is NOW Your Time to Buy a Home in Cupertino? Just Call (408) 252-8900 for a free, no-obligation consultation. We'll give you our honest opinion on whether buying a home during this special time will benefit you.

P.S. I also know of several Cupertino area homes not yet on the market!

Click here to check your rent vs own home affordability and savings with our complimentary calculator.

How Much Can You Afford? Our calculators will help you determine loan amounts, mortgage qualification, affordability or whether you should be renting or buying.

Your customized rent versus own analysis is based upon: An initial monthly rental payment of $3,000.00. We assume that your rent will increase by 2.5% per year. You are considering buying a home valued at $800,000.00, with a down payment of 20% or $160,000.00.

Your monthly mortgage payment of $3,435.66 includes both principal and interest and is based upon a loan amount at an interest rate of 5%. Because your down payment is less than 25 %, we have included Mortgage Insurance to be paid on a monthly basis.

Summary: Using the assumptions above and by buying your home versus renting it's estimated you will have saved $354,262.72 over the next 10 years.

(Net Appreciation - Total Investment Return + Total Rental Payment - Total Mortgage Payment)

Breakdown of this Analysis: Total Rental Payment: $406,921.74

Total Mortgage Payment: $606,679.01

Down Payment: $160,000.00

Home Value: $1,242,375.54

Interest Earned: $100,623.14

Remaining Loan Balance: $427,732.42

Total Investment Return: $260,623.14

Net Appreciation: $814,643.12

*This example is for informational use only and not a quote or rate guarantee, nor a promise of future returns. Call your licensed loan professional for specific rates, terms and qualifications for your unique situation.

Remember, with only 25 days left to qualify for the U.S. Government's free tax credit of up to $8,000, it's time to hop off the fence if you’re thinking of buying a home in 2010 in Cupertino. Just Call 408.252.8900.

Open Houses in Saratoga & Cupertino with Monta Vista High Sunday March 21

by Michelle C. Carr-Crowe

Hello. For those of you looking for open homes (single-family homes, condos, townhomes, duplexes or even multi-family dwellings) in either Saratoga or Cupertino with Monta Vista High School (and a budget of under $1.4M), here are all of the choices for this Sunday, March 21.

Please let me know your questions and how I can help you on your real estate journey.

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If you'd like information about these homes, Just Call (408) 252-8900. These are all Open Houses in Saratoga & Cupertino with Monta Vista High for Sunday March 21 and include single-family homes, condos, townhomes, duplexes or even multi-family dwellings.