Real Estate Alert: Historically Low Inventory of Homes for Sale in Santa Clara County

Did you know that there are less than 550 single family homes on the market in Santa Clara County at the moment? That’s less than 1/5 the normalized market inventory of homes for sale in the County and is a historical low. If you are considering selling, there is no time to waste! Give me a call today to discuss how to get top dollar for your home. Don’t let this amazing market pass you by!

Time to Buy or Sell – Mortgage Rates at Record Low

It’s official. According to Freddie Mac, 30-year fixed mortgage rates have hit a low of 3.91%. What does this mean to you, you ask? Well for one thing, it means that you can refinance that old loan you took out on your house back in 1994 when rates spiked. It also means that those who have been on the fence about wanting to purchase a new home in 2011 have even more reasons to do so. Continue reading “Time to Buy or Sell – Mortgage Rates at Record Low”

2011 San Francisco Bay Area Real Estate Market Review

2011 San Francisco Bay Area Real Estate Market Review

Check out the link  to this month’s Reality Check from Coldwell Banker takes a look back on the housing market in the Bay Area in 2011.

Of particular interest is CAR’s forecast of new home sales in 2012 – which stands at a sluggish 1%. However, this forecast encompasses the entire state of California and given the dynamic Silicon Valley market, which is adding high quality jobs, one can only hope that the local market will outperform CAR’s prediction.

The market is also seeing strength in the luxury high-end home segment specifically in Silicon Valley, San Francisco and the Peninsula with many homes for sale receiving multiple offers. There was some noticeable distinction in the mid market, where there was very few homeowners ‘trading up’ perhaps due to economic uncertainty.

Some hopeful signs for 2012..

  1. There seem to be fewer distressed sales
  2. As buyers become more active in the market place and inventories compress, pricing has begun to firm up
  3. Some banks have implemented procedural efficiencies for processing short sales, allowing for faster approvals
  4. The news media has finally started to question if we have reached a bottom, which will hopefully boost consumer confidence 

Here’s to hoping 2012 marks a true turnaround in real estate market in California and specifically and Bay Area!

2011 San Francisco Bay Area Real Estate Market Review

Check out the link  to this month’s Reality Check from Coldwell Banker which takes a look back on the housing market in the Bay Area in 2011.

Of particular interest is CAR’s forecast of new home sales in 2012 – which stands at a sluggish 1%. However, this forecast encompasses the entire state of California and given the dynamic Silicon Valley market, which is adding high quality jobs, one can only hope that the local market will outperform CAR’s prediction.

The market is also seeing strength in the luxury high-end home segment specifically in Silicon Valley, San Francisco and the Peninsula with many homes for sale receiving multiple offers. There was some noticeable distinction in the mid market, where there was very few homeowners ‘trading up’ perhaps due to economic uncertainty. Continue reading “2011 San Francisco Bay Area Real Estate Market Review”