Anja Kerstens, CDPE® CHS® ASP® selling Silicon Valley real estate

Campbell, Real Estate - Market Report for 95008

This is a real estate update is for activity in the city of Campbell, California dated January 25, 2012.

Real Estate statistics for single family homes in Campbell:

Campbell homes for sale listed between $448,888 and $850,000:

• 31 homes in inventory including 8 short sale and 6 bank-owned (REO))
• Median home price $599,000
• Price per square feet $382.14
• Average days on market 102
• Average size 1,627 square feet
• Average age 52

• 35 homes in escrow as of today (20 short sale and 0 REO)
• Median list price $575,000
• Price per square feet $370.92
• Average days on market 95
• Average size 1,707 square feet
• Average age 50

Campbell homes sold ranging in sale price between $520,000 and $599,000:

• 6 homes closed escrow so far this month (1 short sale and 1 REO)
• Median list price $549,475
• Median sale price $546,500
• Price per square feet $387.01
• Average days on market 60
• Average size 1,490 square feet
• Average age 58
  

If you have any questions or are interested in homes in Campbell contact your Cambrian REALTOR® and Distressed Property Expert.

What You Need to Know about Short Sales

What is a short sale?

When the debt (mortgage) on a property is higher than the current market value the property is "under water"

That is not the problem here because the market will eventual correct itself and values will increase again. However, it becomes a problem when property owners no longer can afford to make payments on the debt owed. These distressed owners need to turn to a person who has expertise in distressed real estate, wether it be a short sale specialist or a real estate attorney who has expertise in this area.

A short sale occurs when you and your agent enter into negotiation with your mortgage company or servicer to accept the price offered on your property and if they accept less than the full balance of your debt (loan) at closing. When a buyer closes the property is "sold short."

I can't make my mortgage payments anymore. What can I do?

Take action! Don't put unopened mail from your creditors in boxes or drawers but take action.

Contact a REALTOR® who has experience in marketing and closing short sales such as a CDPE.

Interview the agent(s)

You want to know how many short sales they have listed, lost to the bank, or closed. Be informed and ask a lot of questions. The real estate agent will have to ask you a lot of questions too in order to prepare a complete short sale packet to present to the servicer or mortgage company. Be honest and don't hold back information. Rememberthe agent you select will be on the same team as you.

Cambrian, Real Estate - Market Report for 95124

This is a real estate update is for activity in the community of Cambrian in San Jose, California dated January 23, 2012.

A large number of distressed properties will affect home values the real estate market. This market has large number of short sales and the number of bank owned properties is increasing destabilizing the community. The good news is that inventory is down. To get a better understanding of the market trends you need to study the statistics over a longer period.

Real Estate statistics for single family homes in Cambrian:

Cambrian homes for sale listed between $398,700 and $1,249,000:

• 76 homes in inventory including 4 homes listed for more than $1 million (19 short sale and 7 bank-owned (REO))
• Median home price $582,500
• Price per square feet $385.49
• Average days on market 71
• Average size 1,657 square feet
• Average age 49

Did you know that 1 in 7 homeowners are struggling to make their mortgage payments? It is very easy to fall behind in payments and before you know it you are on an emotional rollercoaster.

It doesn't have to be you. Take steps and control of your situation; don't let it spin out of control.

• Look up your loan to see if you qualify for a loan modification or short sale through HAFA:
• Fannie Mae
• Freddie Mac
• Document the cause of your distressed.
• loss of employment
• reduced income
• business failure
• damage toproperty
• death of a spouse, wage earner or other member of the family
• severe illness
• inheritance; if you are now the owner of a property you inherited and can't afford the payments.
• divorce
• relocation
• military serive
• payment increase or mortgage adjustment
• insurance or tax increase
• separation
• too much debt
• incarceration
• Contact a Certified Distressed Property Expert about the options you have to get under from your mounting mortgage debt. Do you qualify for a loan modification or have you tried that and are still struggling? Other options are available.
• Contact a Real Estate Attorney who is specialized in distressed properties
• Contact a CPA

Almaden Valley Real Estate Update - January 23, 2012.

The housing market in Almaden Valley remains strong and healthy with very few distressed properties. Home values continue to be stable; short sales and bank-owned properties are not pushing down values as in some other communities in San Jose.

Almaden Valley is located in the South-Western part of San Jose close to the IBM Research Lab.

Real Estate statistics for single family homes in Almaden Valley, San Jose:

Almaden Valley homes for sale:

• 60 homes in inventory (9 short sale and 1 bank-owned (REO)) 27 homes are listed over $1,000,000
• Median home price $961,944
• Price per square feet $437.56
• Average days on market 112
• Average size 2,711 square feet
• Average age 37