Friday, September 9, 2016

Real Estate Prices Still Going Up

SECRET PROPERTY ALERT!: 1336 Poplar Ave in Sunnyvale. 3 bed 2 bath, 1,450+ SF plus a workshop, on a large 9,125 SF lot. Location location location! 1.5 miles to new Apple Campus, or 20 minutes to Google! Built in 1950 and needs updating throughout. Should sell around $1,400,000. Let me know if you or someone you know would like a private showing before we put it on the market in the coming weeks.


SECRET PROPERTY ALERT!:
2851 Agua Vista Dr in San Jose. 3 bed 2 bath, 1,838 SF on a 6,000 SF lot. Built in 1977 and needs some updating in the kitchen and bathrooms. Should sell around $900,000. Let me know if you or someone you know would like a private showing before we put it on the market in September.


IN CONTRACT:
238 Peckham Ct in San Jose. 2 bed 2.5 bath, 1,352 SF townhome near Japantown. BEAT OUT 4 other offers. This was my client’s FIRST written offer!
  

IN CONTRACT:
1211 61st St in Oakland. 2 bed 2 bath, 1,073 SF completely remodeled home. BEAT OUT 5 other offers. Won the bid and WAS NOT the highest price! First written offer for my client!
 

SOLD:
3559 Walton Way in San Jose. Sold for $1,275,000 ($75,000 above asking) with multiple offers. 4 bed 3 bath, 2,200 SF, 2 story home in a very well-established neighborhood (my across the street neighbor). BRAND NEW TECH ***360 Degree Pics: https://goo.gl/photos/QjLAaccnNQxUGU5b7 ***
 

OFF MARKET SALE:
12230 Mellowood Dr in Saratoga. In escrow for $1,350,000 as an off market sale. It is a 3 bed 2 bath, 1,300 SF, 1 story older home located in Saratoga. The seller preferred a quick sale so I was able to find a buyer from my own personal network within days of our initial meeting. BRAND NEW TECH ***360 Degree Pics: https://goo.gl/photos/h8zsjQL6xo79SwmY7 ***


BAY AREA MUST READ: Techies Priced Out of Palo Alto as Studios List for $1.3 Million
When Andy and Amy Isaacson looked at buying a home in Palo Alto, California, for their expanding family, the least expensive one they could find was $1.5 million. The couple and their three daughters instead moved to Omaha, Nebraska, where they have a $500,000 four-bedroom house with a sprawling backyard. “We’re both professionals and we were reaching into savings each month to make ends meet,” said Andy Isaacson, a 35-year-old software engineer, whose wife worked as a clinical research coordinator at Stanford University before their April move. “Something had to give.” While runaway real estate costs in Silicon Valley have long since priced out most middle-class homebuyers, even high earners are…
(To read this article please visit my Facebook Fan Page https://www.facebook.com/NathanRealEstate)

RECENT EXPERIENCES:


  • Won the bid against 4-5 other buyers without having my client “overpay” for the property.
  • Convinced an appraiser that the value of the property was higher than what my clients were in contract for.
  • Brought well priced contractors to a property to help with renovations prior to hitting 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: I’m still in belief that the market is perfect right now for move up buyers. There are fewer multiple offers than before so a buyer who needs to sell before buying has a good chance of getting their offer accepted. I think this trend will continue through the end of the year.

RECAP: Santa Clara County
Inventory is continuing to decline from the highs we saw in June and July and purchase activity actually rose over the past 30 days. Assuming this trend continues throughout the end of 2016 I predict prices will rise over the foreseeable future. If the graph below does not appear, click here to view it.

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.
If the graph below does not appear, click
here to view it.





Housing Inventory Snapshot
August 28, 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
$670,697
-1.35%
$680,351
-1.38%
35
5
858
Single Family over $1M
$1,723,753
-2.09%
$1,390,000
-0.71%
57
6
352
Condo/Townhome under $600K
$445,727
-1.45%
$450,000
0.00%
30
7
242
Condo/Townhome over $600K
$742,983
-1.51%
$699,950
-1.28%
35
4
129
San Mateo County, CA
Single Family under $1M
$814,182
-0.16%
$829,000
-1.19%
33 / 29
-1 / 14
152
Single Family over $1M
$3,430,219
-4.44%
$1,895,000
-4.05%
70 / 21
0 / 4
375
Condo/Townhome under $600K
$488,851
-4.31%
$499,000
-7.25%
29 / 9
1 / 2
52
Condo/Townhome over $600K
$1,023,451
0.62%
$838,888
-1.31%
34 / 10
10 / 1
80
Santa Clara County, CA
Single Family under $1M
$793,442
-0.07%
$799,000
0.00%
37 / 22
2 / 4
580
Single Family over $1M
$2,391,241
1.02%
$1,650,000
0.00%
62 / 31
8 / 7
787
Condo/Townhome under $600K
$483,519
2.58%
$488,000
0.62%
33 / 24
6 / 5
186
Condo/Townhome over $600K
$930,355
4.77%
$799,000
0.01%
33 / 21
5 / -3
262
San Francisco County, CA
Single Family over $575K
$2,241,782
-1.13%
$1,248,000
-7.56%
63
1
187
Condo/Townhome over $340K
$1,450,643
-4.01%
$1,149,000
-0.86%
61
3
347

The table represents aggregated values based on MLS data for the specified date.


If the table above does not appear, you can click
here to view it over the web.

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