Bargain Foreclosures?

While it might be tempting to pursue a foreclosure thinking it might be a good “deal,” many times buyers need to be reminded that the previous owner was probably is distress for it to become a foreclosure/bank owned property. The history will not be readily available as opposed to working with traditional seller who will be required to disclose everything they can about what they know about the home.

In the case of a foreclosure, the bank had not lived or occupied the home so they will not know if the toilet gets backed up once a while or that the neighborhood is susceptible to loud music on certain evenings at the school down the street.

It might seem reasonable for the price be discounted but remember, the bank is also going to make sure they maximize on market value to hedge their losses in this foreclosure.

It is ok to consider looking at foreclosure homes but it is wise to remember, it may not necessarily be a deal.

Bargain vs Foreclsoure

Typical California Seller and Buyer and Silicon Valley Real Estate

Came across these infographics from the California Association of REALTORS website.

I like to look for market at a glance info to keep current with market trends. Also, I happen to like data.

I am not sure how “typical” this is in relation to Silicon Valley Real Estate (or that matter, us here in the real estate market of Evergreen, San Jose, Ca), but always good info to keep in the back of the mind.

2014 Homebuyer profile

 

Considering the clients I have helped buy homes this year, this is pretty straight on.

Here is what a typical home seller in California looked like in 2013:

 

Typical California real estate seller

Typical California real estate seller

For this one and the sellers we served in 2013, only the “50% sold above asking price” resonates with our business.

And here is what a typical luxury home buyer looked like in 2013:

2013 Typical Luxury Home Buyer in California

2013 Typical Luxury Home Buyer in California

While we did not sell any luxury homes (price points over $1M) last year, this does give me a strategy to consider, look for luxury homes for sale on hilltops and surprisingly, luxury clients are also renters.

Evergreen Donut shop abandons location after over 20 years!

 

This Evergreen San Jose donut shop was our go to donut spot ever since I was in the neighborhood back in 1980. I remember biking here the summer of 1986 on my way to summer school at Silver Creek High School.

 

Evergreen San Jose Neighborhood Donut Shop - former location

Evergreen San Jose Neighborhood Donut Shop – former location

A couple of weeks ago, they moved….

Evergreen San Jose Neighborhood Donut Shop - MOVES!

Evergreen San Jose Neighborhood Donut Shop – MOVES!

 

That’s right, they moved two doors down to a bigger location in the same shopping center.

Evergreen San Jose Neighborhood Donut Shop - new location

Evergreen San Jose Neighborhood Donut Shop – new location

 

The only thing that has really changed is the size of the store.

The Evergreen San Jose homes right behind the shopping center is a modestly priced neighborhood ranging in the high $600k up to $800k.

 These homes will maintain its value as it falls into the fairly new and highly rated Evergreen Valley High School.

San Jose median sales prices

**** map of EVHS***

For a short time, this Evergreen San Jose neighborhood had its share of distressed homes with short sales and bank owned properties as part of its real estate market make up during the recession.

As fast as it declined in value, the neighborhood is moving to full recovery as the real estate market here in Eveegreen San Jose, is now appreciating in true Silicon Valley form, fast.

****sample price history 1998, 2003, 2007, 2013.****

 

 

 

 

 

Evergreen San Jose Real Estate Market Update – June 2014

June’s Market update for Evergreen San Jose Real Estate

Sheryl Martinez, REALTOR, of Aalis Platinum Properties, thought you would find this information helpful and is ready to answer any questions about the local Evergreen Real Estate market of San Jose, Ca.

Let’s take a look at the real estate activity happening in your area during the month of June.

The number of active listings was down 25%, from one year earlier and up 3% from the previous month.

As you can see, the median listing price for the month was just over $1.25M.

Compared to last year, the numbers of days a home was on the market was up 17%.

The median sales price was just under $800,000.

The number of units sold increased 17% year over year and increased 10% month over month.

Thank you for watching. We hope you found this video helpful as you make smart and informed decisions in the Evergreen San Jose Real Estate market area.
Please click the button on the screen to contact Sheryl Martinez, REALTOR, of Aalis Platinum Properties.
408-209-7674