Gilroy, CA

Eagle Ridge Market Update

Eagle Ridge Golf Course Community in Gilroy is definitely a very desirable place to live. The proof is there: homes listed for sale in Eagle Ridge are selling quickly. In the last 6 days 4 homes went under contract ranging in price from $605,900 to $834,900 (another Eagle Ridge Realty listing) and ranging in size from 2808 to 4095 square feet.

Currently there are 18 homes under contract and 13 active listings ranging from $525,000 to $1,099,000.

If you would like to live in this very desirable community contact us for a showing or free Market Analysis of your current home.

First Time Home Buyers Beware - You are running out of time.

Prices are down, sales are up and many first time home buyers are back and ready to purchase their first home. If you are a first time home buyer you don't want to wait too much longer because the deadline for the $8,000 first time home buyers tax credit is approaching soon. This tax incentive is expiring on November 30th at 12 midnight. First time home buyers will have to complete the purchase of the property under contract before this deadline.

That means that first time home buyers will have to find a property AND be under contract before the end of September 2009. It takes 2 months on average to close a sale; mortgage approvals take longer, appraisals are also delayed under the new HVCC regulations that took affect on May 1, 2009 and properties for sale receive multiple offers often close to or more than list price.

First time home buyers: don't delay and wait until time is running out. Now is the time to look for your first home.

If I can help you find property or you need more information on this or other subjects please feel free to contact me.

Anja Kerstens

Eagle Ridge Market Update - Eagle Ridge homes for sale.

The inventory is similar to last month here in Eagle Ridge. Buyers are out and we have more visitors to our open house showings. In addition we are seeing multiple offers on listed properties. Our most recent closing last month received one of the highest sale price of any resale home here in Eagle Ridge in the last year. We were able to negotiate top dollar for your seller.

Currently there are

• 16 active listings in inventory ranging in price and size from $525,000 (4 bedroom/3 1/2 bath - 2,222 square feet) to $1,099,000 (5 bedroom/3 1/2 bath - 4,729 square feet). If I compare this to last month I conclude that the listing price on the low end of the market has dropped slightly and it increased from $924,000 to $1,099,000) for the upper end of the market
  
• 16 properties are under contract. Listing price ranges from $539,875 (4 bedroom/2 1/2 bath - 2,417 square feet) to $925,000 (5 bedroom/4+ bathroom - 3,772 square feet).
• 5 properties closed in July and 1 in August. Sold price ranges from $585,100 to $879,000. Three homes sold over asking price and 2 for slightly less. That leaves one property which sold for asking price. Average days on the market this month: 45. Two of these sales were Bank owned properties; two were short sales and two conventional sales.

Eagle Ridge Homeowners Association - is hosting the Eagle Ridge E-Waste Day

The Eagle Ridge Homeowners Association is hosting their first Eagle Ridge E-Waste Day for the homeowners of Eagle Ridge on September 19, 2009, from 9:00 am to 4:00 pm. I encourage all homeowners to save the day and to take advantage of this program. Future events are based on the success of this (hopefully) first E-Waste event.

Hi-Tec Recycling located in Richmond, will accept all electronics free of charge in the parking lot of the Eagle Ridge Homeowners Association (ERHOA) clubhouse at 2840 Caledonia Way.

You can bring all recyclable electronics such as:

• televisions
• remotes
• computers
• printers
• cell phones
• monitors
• satellite dishes
• radios, etc.

Gilroy Market Update for July 2009

The following market update is for single family homes.

July continues to be a strong month for Real Estate sales here in Gilroy. Again, more homes are under contract then there are in inventory. Many of these properties are short sales or bank owned properties.

As of today there are:

• 138 active listings ranging in price between $144,500 and $5,500,000
• 199 homes are under contract ranging in price between $111,000 and $1,075,000. Note: many of these homes are short sales or bank owned properties and these sales generally take longer to complete.
• 38 homes closed escrow during the first 22 days of July. The average days on market for these homes was 112
  • 24 of these properties are bank owned
  • 8 are short sales
  • 6 do not disclose the type of sale or are "conventional" (meaning not distressed) sales.
  • Note: one short sale property went under contract in November 2008.
  
  
  
  
  
  
  
  
  If you would like to receive more information or are interested in properties in Gilroy or Morgan Hill you can contact me. If you would like to receive a free Market Analysis of your home feel free to contact me too.
  Anja Kerstens
  Signature Homes and Estates