The Villages Golf and County Club San Jose Market Report: March 2015

As you can see from this chart in 2015 so far condos in the Villages San Jose sold for just over 100% of list price on average. There were 36 closed condo sales in The Villages Golf and Country Club in San Jose ranging in price from $290,000 to $1.050.000. The average days on market was 29 days.

In July of 2014 the home sales in The Villages San Jose were 101.4% of list price. There were 15 condo sales in The Villages San Jose ranging in price from $275,000 to $745,000. The average days on market was 29.

In August of 2104 condos and homes in The Villages Golf and Country Club San Jose sold for 99.6% of list price. There were 9 condo sales ranging in price from $304,000 to $820,000. The average days on market was 38 days so there has been a good upswing in the number of sales, the sales to list price ratio, and downward trend on days on market.

Prices in the Villages San Jose have not yet reached their peak from 2006 but things are picking up. In the same period of 2013 there were 45 Villages of San Jose sales as compared to 53 sales in the same 3 months in 2014. In 2013 the average sale price at The Villages San Jose was $440,000  with an average list price of $444,9000. In June through Aug 2014 the average sale price at The Villages San Jose was $467,000 with an average list price of $460,000.

The trend for sales in the Villages San Jose is definitely up. This seems to be particularly true for the homes that do not have any stairs to enter, either up or down. These homes are generally selling in a week or less. However, the first three months of this year have seen many of the lower priced sales in Cribari which is probably a reflextion of the difficultiy in finding affordable housing in other parts of the Silicon Valley.

It will be interesting to see how this plays out over the next year as there are more people reaching the age of 55 and who are looking to live in a home with less maintenance than most of the homes in the Silicon Valley.

Right now there are 4 condos on the market ranging in price from $505,000 to $649,000 with an average days on market of 7. There are also 3 single family homes on the market ranging in price from $770,000 to $1,295,000.  If you would like to see the current inventory of condos for sale in The Villages of San Jose click here.  If you would like to see the current inventory of single family homes for sale in The Villages of San Jose click here.

If you have any questions about buying or selling a home in The Villages Golf and Country Club please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyercom

marcy@marcymoyer.com

Cal BRE 01191194

650-619-9285

Menlo Park Ca Multiple Offers, What Should I Do?

Anyone trying to buy a home in Menlo Park right now knows that it is tough out there. There are many more buyers than sellers and many Menlo Park homes sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Menlo Park multiple offer situation and not overpay?

The answer is not simple, and sometimes it is

 not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.

But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Menlo Park home in a multiple offer situation,

1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.

2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variables, and the market is a moving target, but a good Menlo Park real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.

3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Menlo Park listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Menlo Park real estate agents like to do.

In the end, the final offer price and terms will be your decision, but if you have a great Menlo Park real estate agent he or she can help guide you through the murky waters of Menlo Park multiple offers.

If you have any questions about buying or selling a home in Menlo Park please feel free to contact me.

Marcy Moyer

Keller Williams Realty 

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

How Much To Offer on a Sunnyvale Home With Multiple Offers

The real estate market for Sunnyvale town homes and condos for sale is pretty crazy right now. There are hundreds of new town homes springing up for sale in the eastern part of Sunnyvale but even so, the resale market is still on fire for sellers in Sunnyvale. Normally, if there is a lot of new construction the resale homes with suffer. This is not the case in Sunnyvale. The demand for homes has so far out paced the town homes available for sale in Sunnyvale that prices continue to appreciate and buyers need to offer more than list price to have the winning offer.

The closed sales of Sunnyvale town homes and condos was only 4.5% over list price, but that was a reflection of Sunnyvale town home and condo sales in December. By February the average sale price was 5% over the list price of Sunnyvale town homes and condos for sale. In March through May the average sale price was almost 8.5% higher than the list price of Sunnyvale town homes and condos for sale. So far in June the sales price is 11% more than the list price, reflecting the sales in May. 

So if you are faced with making an offer for a condo or town home in Sunnvale how much should you offer? Unfortunatley there is no simple answer. Logically we can not expect 10% apprecition every time there is a sale. However, the number of people looking is not decreasing significantly. What is decreasing a little is the number of investors. As the prices have skyrocked, the return on investment for a rental property is decreasing. The amount you can get for rent has not increased at the same rate as Sunnyvale town home and condo prices have. In fact, so many investors have purchased rental properties there is actually a glut on the market nation wide, and a balance in the bay area. 

The market is starting to turn back to buyers with loans intending to live in the property are the majority of people making offers, not investors with all cash.

So to the answer the question, how much should you offer on a Sunnyvale town home or condo for sale is not simple, but it is not an impossible question to answer.  Look at the true market price, not the list price, which can be anywhere from 15% below market value, true market, of 10% higher than market. Take the true market value and go up a percent or two if you want it, and maybe 5% if you REALLY want it and can cover the difference between market value and your offer in cash since the bank will only lend based on market value. You may not win every time, but eventually you will get your Sunnyvale home.

If you have any questions about buying or selling a Sunnyvale town home or condo please feel free to contact me.

Marcy Moyer

Keller Williams Realty

www.marcymoyer.com

marcy@marcymoyer.com

DRE 01191194

650-619-9285

How Much Over List To Offer On A Palo Alto Home With Multiple Offers

Anyone trying to buy a home in Palo Alto right now knows that it is tough out there. There are many more buyers than sellers and many Palo Alto homes sell with multiple offers way over list price. Some homes go as much as 40% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Palo Alto multiple offer situation and not overpay?

The answer is not simple, and sometimes it not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.

But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Palo Alto home in a multiple offer situation,

1. In my opinion the most import thing is, how much is this home worth to you? In other words, what price would you offer so so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.

2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variable, and the market is a moving target, but a good Palo Alto real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.

3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Palo Alto listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Palo Alto real estate agents like to do.

In the end, the final offer price and terms will be your decision, but if you have a great Palo Alto real estate agent he or she can help guide you through the murky waters of Palo Alto multiple offers.

If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

Mountain View Ca. Multiple Offers 2015: the Facts

Anyone trying to buy a home in Mountain View right now knows that it is tough out there. There are many more buyers than sellers and many Mountain View homes sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Mountain View multiple offer situation and not overpay?

The answer is not simple, and sometimes it is not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.

 

But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Mountain View home in a multiple offer situation,

1. In my opinion the most important thing is, how much is this home worth to you? In other words, what price would you offer so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.

2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variables, and the market is a moving target, but a good Mountain View real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.

3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Mountain View listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Mountain View real estate agents like to do.

 

In the end, the final offer price and terms will be your decision, but if you have a great Mountain View real estate agent he or she can help guide you through the murky waters of Mountain View multiple offers.

If you have any questions about buying or selling a home in Mountain View please feel free to contact me.

If you would like to search for homes for sale in Mountain View click here.

 

Marcy Moyer

Keller Williams Realty Palo Alto 

www.marcymoyer.com

marcy@marcymoyer.com

Ca B.R.E. 01191194

650-619-9285

Villages Golf and Country Club San Jose Market Update Dec 2014

The trend for sales in the Villages San Jose is definitely up. This seems to be particularly true for the homes that do not have any stairs to enter, either up or down. These homes are generally selling in a week or less. Last month's average days on market was 30, as compared to 79 for Oct and Nov. and 10 in September. The reason for this increased days on market over Sept and lower average sale price than in previous months is that 4 of the 5 condo sales were Cribari units that have always taken longer to sell. The fact that 4 of these smaller units with stairs closed in the last month shows that even the less popular models are selling in this brisk market.

It will be interesting to see how this plays out over the next year as there are more people reaching the age of 55 and who are looking to live in a home with less maintenance than most of the homes in the Silicon Valley.

Right now there are condos on the market ranging in price from $310,000 to $745,000. The average days on market for 5 of the homes, excluding the always less popular condo in Cribari is 20. The Cribari unit days on market is 159. 20 days for average is as low as it has ever been in The Villages. I expect excellent appreciation in this development in 2015.

If you would like to see the current inventory of condos for sale in The Villages of San Jose click here.  If you would like to see the current inventory of single family homes for sale in The Villages of San Jose click here.

If you have any questions about buying or selling a home in The Villages Golf and Country Club please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyercom

marcy@marcymoyer.com

Cal BRE 01191194

650-619-9285

Silicon Valley Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot December 28, 2014   Average List Price for active listings Median List Price for active listings Average DOM: for active listings/ for sold listings Alameda County, CA Single Family under $1M $532,291 $499,990 67 Single Family over $1M $2,077,599 $1,595,000 119 Condo/Townhome under $600K $352,212 $320,000 75 Condo/Townhome over $600K $740,646 $723,900 73 Contra Costa County, CA Single Family under $1M $463,073 $435,000 80 Single Family over $1M $2,338,157 $1,798,000 137 Condo/Townhome under $600K $308,596 $299,990 80 Condo/Townhome over $600K $787,302 $670,000 52 Monterey County, CA Single Family under $1M $575,442 $550,000 131  / 13 Single Family over $1M $4,524,983 $2,550,000 248  / 234 San Benito County, CA Single Family under $1M $573,206 $539,000 138  / N/A** San Mateo County, CA Single Family under $1M $717,569 $699,000 108  / 8 Single Family over $1M $5,490,612 $4,495,000 187  / 3 Santa Clara County, CA Single Family under $1M $669,688 $630,000 105  / 34 Single Family over $1M $3,503,419 $2,125,000 165  / 35 Condo/Townhome under $600K $422,297 $390,000 39  / 3 Santa Cruz County, CA Single Family under $1M $674,935 $695,000 130  / 29 Single Family over $1M $2,171,193 $1,949,000 249  / N/A**

How Much Should I offer on Redwood City, Ca Home With Multiple Offers?

Anyone trying to buy a home in Redwood City right now knows that it is tough out there. There are many more buyers than sellers and many Redwood City homes sell with multiple offers way over list price. Some homes go as much as 30% over asking, but some do not. How does a buyer make the decision about how much to offer to have the winning bid in a Redwood City multiple offer situation and not overpay?

The answer is not simple, and sometimes it not a question of price, but terms, like contingencies, length of escrow, length of rent back, etc.

But for right now, let's just discuss price. Here are some things to keep in mind when you make an offer on a Redwood City home in a multiple offer situation,

1. In my opinion the most import thing is, how much is this home worth to you? In other words, what price would you offer so so that if it sold for $1000 more you would not be sorry because you do not want to pay that much. It may be that you would pay more than your offer if you could, but you can't so you are just doing your best. But if that is not the case you need to decide how much the house is worth to you so that if you do not get it you will not have regrets.

2. How is the asking price of this home compared to market value? If the house is listed low it will get multiple offers and sell for much more. If it is listed at or above market value it will not. This is not rocket science. Figuring out market value can be a little tricky since there are many variable, and the market is a moving target, but a good Redwood City real estate agent should be able to help you analyze comps. Once you know the market value you will have to offer more in an appreciating market like we are in now. Sorry, but that is the truth.

3. What is the style of the listing agent? Does he or she like to list homes very low to get as many multiple offers as possible on their Redwood City listings? Does the agent over value a home to try to get more money for their client, or just try to win out on a competitive listing? Does the agent like to work with multiple counter offers, or accept the the first best offer?  Your agent should be able to give you insight into what other Redwood City real estate agents like to do.

In the end, the final offer price and terms will be your decision, but if you have a great Redwood City real estate agent he or she can help guide you through the murky waters of Redwood City multiple offers.

If you have any questions about buying or selling a home in Redwood City please feel free to contact me.

If you would like to search for homes in Redwood City click here.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyer.com

marcy@marcymoyer.com

D.R.E. 01191194

650-619-9285

The Villages Golf and Country Club San Jose Market Report Oct/Nov 2014

 

As you can see from this chart in Oct/Nov of 2014 homes in the Villages San Jose sold for 101.5 to just over 102% of list price on average. There were 17 closed home/condo sales in The Villages Golf and Country Club in San Jose ranging in price from $2800,000 to $683,000. The average days on market was 79 days.

Prices in the Villages San Jose have not yet reached their peak from 2006 but things are picking up. In the same period of 2013 there were 15 Villages of San Jose sales . In Oct/Nov of 2013 the average sale price at The Villages San Jose was $421,893  with an average list price of $421,860. In September of 2014 the average sale price at The Villages San Jose was $458,853 with an average list price of $456,467.

The trend for sales in the Villages San Jose is definitely up. This seems to be particularly true for the homes that do not have any stairs to enter, either up or down. These homes are generally selling in a week or less. Last month's average days on market was 79, as compared to 29 for June through Aug.  and 10 in September. The reason for this increased days on market and lower average sale price than in previous months is that there were several short sales that took a very long time to sell and 6 sales of Cribari units that have always taken longer to sell. The fact that 6 of these smaller units with stairs closed in the last 2 months shows that even the less popular models are selling in this brisk market.

It will be interesting to see how this plays out over the next year as there are more people reaching the age of 55 and who are looking to live in a home with less maintenance than most of the homes in the Silicon Valley.

Right now there are 13 homes on the market ranging in price from $299,000 to $905,000. If you would like to see the current inventory of condos for sale in The Villages of San Jose click here.  If you would like to see the current inventory of single family homes for sale in The Villages of San Jose click here.

If you have any questions about buying or selling a home in The Villages Golf and Country Club please feel free to contact me.

Marcy Moyer

Keller Williams Realty Palo Alto

www.marcymoyercom

marcy@marcymoyer.com

Cal BRE 01191194

650-619-9285