Monday, May 9, 2016

Rental Control Issues and Market Update

SECRET PROPERTY ALERT: 2210 Canyon Lakes Dr in San Ramon. It is a 4 bed 3 bath plus a den, 2,350 SF, 2 story newer home located on the 8th tee at the Canyon Lakes Golf Course in San Ramon. Coming on the market mid-May. Priced around $950,000. If you know anyone looking please pass along this email and have them contact me for a pre-MLS showing.


SECRET PROPERTY ALERT:
3559 Walton Way in San Jose. 4 bed 3 bath, 2,200 SF, 2 story home in a very well-established neighborhood (my across the street neighbor). Coming on the market around June. Priced around $1.4M. If you know anyone looking please pass along this email and have them contact me for a pre-MLS showing.


IN ESCROW:
173 Northwood Dr in South San Francisco. 3 bed 2 bath, 1,430 SF. I received 9 offers and got the home sold for $980,000 ($80,000 over asking) in 7 days with a free month long rent back! The seller was extremely pleased.


SOLD:
2581 Post St (4-Plex) in San Francisco $1,650,000 – Beat out 14 other offers and after the fact negotiated a $50,000 price reduction!

SOLD: 541 Wellington Ct in Vacaville $510,000 – Got it for $29,000 below original list price and $5,000 below appraised price!

BAY AREA MUST READ: San Jose council approves tightening rent control -- but neither side is happy
After a marathon hearing that stretched well past midnight, city leaders voted early Wednesday to reduce annual rent hikes in one-third of the city's apartments -- a move they hope will stabilize rents in one of the nation's most expensive cities. But the decision was a compromise that struggling renters said …
(To read this article please visit my Facebook Fan Page https://www.facebook.com/NathanRealEstate)

RECENT EXPERIENCES:


  • Counseled a seller to help them decide on when to put their Cupertino condo on the market.
  • Helped an owner living in Europe create a plan to prep and put their San Jose home on the market.
  • Coordinated with painters, handymen, and flooring contractors to prep a West San Jose home for the market.


THINGS I CAN HELP WITH:


  1. Considering selling in the next 18 months? Let me know and I can give you advice and strategies to obtain top market value.
  2. Looking for a home in a specific school district? My website can do that for you.
  3. Looking for a home with an “open floorplan” or “big backyard”? My website can do that too.

Email me for these CUSTOM services.

Selling before buying can be really tricky in a market like this, but you do have options. Let me help by first
filling out this form so I can get started on pricing your current home, and then we can discuss options to prevent a double move, or worse, not being able to buy the replacement!

FORECAST: Multiple offers will continue to be an issue for buyers till we are through the peak of the selling season. Prices will rise 2-4% during this period.

RECAP: Santa Clara County
There has been a very slight slowdown in the upper end of the market, it could be due to a change in the buyer pool. It is too early to tell what exactly is the cause, or even if it is here to stay. I should know more in the coming weeks and will keep you informed.

RECAP: San Mateo County
San Mateo County looks to be following suit with Santa Clara and San Francisco. CALL ME IF YOU NEED ANY SPECIFIC INFORMATION.





Housing Inventory Snapshot
April 2016

Average List Price
30 Days Trend
Median List Price
30 Days Trend
Average DOM: active/sold
30 Days Trend
Number of Listings
Alameda County, CA
Single Family under $1M
$657,536
0.57%
$675,000
1.05%
30
-5
641
Single Family over $1M
$1,856,891
-0.37%
$1,498,000
0.20%
45
-2
318
Condo/Townhome under $600K
$459,353
3.27%
$459,000
5.52%
20
-5
133
Condo/Townhome over $600K
$752,782
-1.11%
$705,000
-2.76%
19
-1
97
San Mateo County, CA
Single Family under $1M
$846,794
1.58%
$828,000
-2.59%
26 / 9
-1 / -6
93
Single Family over $1M
$3,967,902
-6.83%
$2,199,000
-2.18%
45 / 22
-13 / 2
342
Condo/Townhome under $600K
$500,824
0.23%
$499,000
0.00%
15 / 33
-10 / -15
28
Condo/Townhome over $600K
$1,024,041
-2.53%
$878,000
-5.08%
25 / 13
2 / 1
63
Santa Clara County, CA
Single Family under $1M
$791,199
3.50%
$799,000
3.10%
37 / 21
0 / 6
403
Single Family over $1M
$2,556,829
-1.79%
$1,799,000
-2.65%
47 / 14
-5 / -3
727
Condo/Townhome under $600K
$470,262
2.64%
$475,000
5.79%
20 / 6
1 / -7
125
Condo/Townhome over $600K
$946,673
-2.50%
$825,000
-2.94%
22 / 11
1 / -1
202
San Francisco County, CA
Single Family over $575K
$2,405,821
0.64%
$1,495,000
0.00%
58
2
210
Condo/Townhome over $340K
$1,509,499
4.24%
$1,195,000
4.00%
51
3
347

The table represents aggregated values based on MLS data for the specified date.
As always I welcome referrals from friends, co-workers or family members looking to buy a piece of property.  I am also happy to provide unbiased sound advice at any time. You can rely on my integrity and follow-through.

* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

Applying Cutting Edge Systems and Strategies to Find the RIGHT Buyer or Seller in ANY Market.

Warm regards,
Nathan Nahouraii
Direct: (408) 404-6444
Direct: (650) 352-5322
Direct: (415) 236-3826
nathan@nathanproperties.com
www.nathanproperties.com