We look back on Aprils numbers to see if we can figure out what direction the market might be heading. There is some good news in that many things seem to be flattening, but we continue to see a decline in average sales price. When we consider that we are also seeing record inventories and fewer homes sold, there is plenty of room for worry. However, there is still room to hope for a more stabilized local market. What is the big story to take from these numbers? While the county numbers are interesting, there is HUGE variation from area to area - even within smaller cities. If you want to get a good feeling for the market for your home, you need to get in touch with me so that we can figure out your specific situation.
We continue to see trends that we are very familitar with. Real estate inventories continue to rise. Home sales in Morgan Hill continue to be down. However, we do see some differences. The number of homes being listed in Morgan Hill is down. What is really interesting is the makeup of the homes that did get sold in the month of March 2008 in Morgan Hill.
Some interesting numbers for the real estate market in Los Gatos for March 2008. While we are seeing the overall downturn of the county appearing to have more effect, we are also seeing some other indicators. These are subtle changes that often mean that things are about the transition again. Since Los Gatos is one of those communities that tend to react to bad markets last but react to an improving market first, it is worth paying special attention to just what is going on in Los Gatos. Read on for the video presentation.
The real estate market in Cupertino, California continues to buck the trends of the county in general.
Average home prices continue to increase. The average days on market continue to be low. The total inventory stays at a healthy ratio to the number of homes being sold (just under 3 homes on the market for every home that sells).
However, we do see some small signs of slowing. At the worst, it looks like things may flatten a bit for Cupertino - but even that would be a pessimistic view given the amazing performance of this community over the last few years while other locations have been hit hard.
Due to popular demand, I will be posting the narrative information for this analysis as I did last year. However, in the interests of getting the info out as soon as possible, the video presentation will be posted in advance of the narrative text.
Santa Clara County real estate has started to show signs of the downturning market. Over the last few months, we have seen the average sales price of a home in Santa Clara County drop after years of continuing to increase despite huge inventories and low sales.
This month showed a continuation of that trend, with perhaps a few indications that we might be pivoting towards stability. Take a look at this months video presentation for all the details.
Due to popular demand, I will begin to post the report results in a narrative form as I have in the past. However, the posting of this information will lag behind the posting of the video portion by a few days. Thanks for taking the time to take a look at my real estate reports on all the local markets!
The professional choice for Southern Silicon Valley real estate. Check my website for real estate news, analysis and MLS access! Licensed since 1988!
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About Robert:
Born and raised in the Silicon Valley area. I started in Real Estate in 1988, fresh out of San Jose State University, and have watched as the market has taken some amazing turns.
I have a great track record of getting the lowest price for my buyers and the highest price for my sellers. I understand that my duty is to represent the best interests of my clients. That means I negotiate hard and effectively to get my client the best deal possible. I know what to watch out for and I am proud of my exceptional record of successfully closing transactions, even when it seemed like everything possible has gone wrong. I pride myself on being a problem solver who can make things happen after others have given up.
Unlike others, I don't claim to "specialize" in an area the size of most states. I specialize in Morgan Hill properties of all types. Of course, I can and do help clients with their needs outside of the area I like to specialize. This includes communities like Los Gatos, Blossom Valley, Almaden Valley, Scotts Valley and my old stomping grounds in Capitola and Aptos. For those areas I don't work in, I will be happy to refer you to an agent who takes their job and responsibilities as seriously as I do.
I concluded a two year sabbatical in London England in 2007. During that time, I remained active as a consultant to those with real estate needs in California while also gaining international real estate contacts to further help my future clients. I now have an international element as part of my standard marketing plan for all the homes I list.
Areas of Expertise:
While the bulk of my business has been built on successfully marketing homes for sale, my track record in helping buyers in residential real estate is among the best in the business. Also, I have created helpful software that allows my buyers to track homes they have viewed, rate them, experiment with loan numbers and track all the key aspects of their real estate purchase.
I also have a background in helping both seasoned and new investors locate opportunities ranging from single family home rentals, to multi-unit apartment complexes. I can assist with not only finding the property, but helping in the pre-purchase analysis of the property. I have even developed my own software to help my investor clients analyze investment opportunities.
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