San Francisco Peninsula Real Estate Expert, Arn Cenedella
Date: Sunday January 4, 2009Posted in: real estate market, San Mateo County
For the latest updates on the real estate market in the mid-peninsula regions of Santa Clara and San Mateo Counties, contact Arn Cenedella. Arn has been serving this area for 30 years and offers his clients superior knowledge and experience.
South County Sales Week of November 17 -23, 2008
Date: Monday November 24, 2008Posted in: real estate market, South Santa Clara County, statistics
Today marks a change in my weekly sales report for the south Santa Clara County area. From now on, I will be publishing this update on Mondays. I switched from my typical Wednesday updates for various and sundry reasons. Hope you’re all okay with that!
Sales last week were still robust in our area of the south Santa Clara County towns of Morgan Hill, San Martin and Gilroy - and by far the most sales were priced below $500,000. There were 39 residences that went from active to pending status. Of these, 34 were single family homes and 5 were condo/townhouses.
Of these sales, the list price ranges were:
Below $200,000 = 2 sales (5% of total)
$200,000 - $500,000 = 32 sales (82% of total)
$500,000 - $800,000 = 3 sales (8% of total)
$800,000 - $1,200,000 = 2 sales (5% of total)
$1,200,000 - $2,000,000 = no sales
As of November 23, 2008, there are 704 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 235 pending residential listings. Therefore, 25% of the listings are pending under contract as of this date. Active listings are down most likely due to the upcoming holidays.
Tune in next week for an update on the number of sales in South Santa Clara County!
Good Thing Gas Prices Are Down
Date: Friday November 21, 2008Posted in: real estate market, REO, real estate, real estate buyers, buying a home, Santa Cruz, Los Banos, referrals, bank-owned
I have many great repeat clients and two of them have called me within the past week to help them in locations other than Santa Clara County. I suggested to each of them that they may want to use a Realtor who is located closer than I am to their property sale or purchase, but both sets of clients insisted on working with me. And who am I to refuse?! Not only do I know that I can do a “way beyond expectations” job for them by doing a lot of research up front along with the excellent service I always offer, but I also get to spend time with some wonderful people and help them achieve their real estate goals.
The first call came from some previous clients who asked me to do our sixth transaction together. They’d like me to sell some investment property they have in Santa Cruz. I sold this home to them several years ago.
They now have some very fortunate tenants living there from UCSC who are lucky enough to live in a beautifully remodeled home with a lovely backyard. This home has a wonderful floorplan with 4 bedrooms and 2 1/2 bathrooms. The choices in colors and finishes are incredible. Look for it on MLS sometime early next week.
So yesterday I had lunch at Cafe Sparrow in Aptos (so delicious!) with the Santa Cruz clients. Life is good. Then today, I trek off to Los Banos with my investment buying clients. Life is still good. I hadn’t been to Los Banos in a while and it has grown into quite a city. Many new businesses and nice housing developments.
My clients and I both did a lot of research on the city regarding investment property prior to our house tour today. I talked with several people who gave me first-hand accounts on the excellent rental market in Los Banos. My clients and I saw 10 homes today that met their criteria: 5 years or newer, 4 bedrooms, and priced under $150,000. Homes meeting the age and bedroom criteria in 2005 would have been selling in the $400,000s. We found some homes that may fit the bill for my clients. We’ll see how the REO negotiations go….
Most of the homes we saw in Los Banos were bank-owned homes and, although this home pictured above was also bank-owned, most of them had dead grass in the front yard, and no landscaping at all in the back yard. And most appeared to be in good condition, with a few exceptions.
Obviously, I travel far and wide for my clients. If you need help anywhere in the Bay Area, I can help you with advice, with agent referrals or with my very own expertise!
South County Sales Week of November 12 - 18, 2008
Date: Wednesday November 19, 2008Posted in: real estate market, real estate, Santa Clara County, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics, pending sales, pricing, Morgan Hill Real Estate, Gilroy real estate
Quite a jump in sales last week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy - especially considering that it is mid November! There were 38 residences that went from active to pending status. Of these, 36 were single family homes and 2 were condo/townhouses.
Of these sales, the list price ranges were:
Below $200,000 = 1 sale (3% of total)
$200,000 - $500,000 = 26 sales (68% of total)
$500,000 - $800,000 = 8 sales (21% of total)
$800,000 - $1,200,000 = 2 sales (5% of total)
$1,200,000 - $2,000,000 = 1 sale (3% of total)
As of November 18, 2008, there are 719 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 228 pending residential listings. Therefore, 24% of the listings are pending under contract as of this date.
Tune in next week for an update on the number of sales in South Santa Clara County!
Exercising My Right to Talk About Real Estate
Date: Saturday November 15, 2008Posted in: real estate market, real estate, Morgan Hill, South Santa Clara County, Gilroy, Morgan Hill Real Estate
Because most people know that I’m a Realtor, I am always asked about the real estate market. Some people are shy about asking because they think I might be tired of talking about the subject. But I love to talk about real estate and can expound monotonously on the topic when given the opportunity! No topic fascinates me more than the many facets of Gilroy and Morgan Hill real estate - just get me going and you’ll be looking for the “off switch”!
One place where I have a captured audience is my morning exercise boot camp class. Real estate topics often come up there and I’ve been able to educate my fellow boot campers on short sales, foreclosures, loan modifications, as well as some of the screaming good deals that are on the market right now. I try not to bore them too much or make any of them run the other way when they see me coming. As a matter of fact, much of the time I’m gulping for air and can’t speak because I need that oxygen to just keep my lungs from exploding!
We’re a small group of women and have gotten to know each other in the wee hours of the morning as we do our push-ups, squats and lunges. I really can’t think of a better way to start the day than boot camp. Our boot camp is put on by a small company, AlaVie, that hosts boot camps in several Bay Area locations. For me, exercising outside in the fresh air is the way to go. I find going to the gym claustrophobic after becoming a boot camp regular.
So don’t be afraid to ask me about the real estate market - and if I gasp for air, I’m either doing crunches or it may be because I find the topic so exciting!
South County Sales Week of November 5 - 11, 2008
Date: Wednesday November 12, 2008Posted in: real estate market, real estate, Santa Clara County, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics, pending sales, housing market, list price, housing inventory
Sales were basically on par with the week before in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy. There were 29 residences that went from active to pending status. Of these, 28 were single family homes and 1 was a townhouse.
Of these sales, the list price ranges were:
$200,000 - $500,000 = 20 sales (69% of total)
$500,000 - $800,000 = 6 sales (21% of total)
$800,000 - $1,200,000 = 2 sales (7% of total)
$1,200,000 - $2,000,000 = 1 sale (3% of total)
As of November 11, 2008, there are 730 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 216 pending residential listings. Therefore, 23% of the listings are pending under contract as of this date. This percentage is down slightly from the past few months.
Tune in next week for an update on the number of sales in South Santa Clara County!
South County Sales Week of October 29 - November 4, 2008
Date: Wednesday November 5, 2008Posted in: real estate market, real estate, Santa Clara County, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics, residences, pending sales, housing market, list price, housing inventory
Sales weren’t quite as robust this past week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy. There were 30 residences that went from active to pending status. Of these, 28 were single family homes and 2 were condo/townhouses.
Of these sales, the list price ranges were:
Below $200,000 = 1 sale (3% of total)
$200,000 - $500,000 = 21 sales (70% of total)
$500,000 - $800,000 = 5 sales (17% of total)
$800,000 - $1,200,000 = 2 sales (7% of total)
$1,200,000 - $2,000,000 = 1 sale (3% of total)
As of November 4, 2008, there are 732 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 231 pending residential listings. Therefore, 24% of the listings are pending under contract as of this date.
Tune in next week for an update on the number of sales in South Santa Clara County!
South County Sales Week of October 22 - 28, 2008
Date: Friday October 31, 2008Posted in: real estate market, real estate, Santa Clara County, Morgan Hill, South Santa Clara County, San Martin, Gilroy, statistics, residences, pending sales, housing market, list price, housing inventory
Another busy week last week in the south Santa Clara County area of Morgan Hill, San Martin and Gilroy. There were 43 residences that went from active to pending status. Of these, 41 were single family homes and 2 were condo/townhouses. This past week there were more sales in the higher price ranges than compared to some of the previous weeks. For comparison, look at my previous weekly posts on Wednesdays.
Of these sales, the list price ranges were:
Below $200,000 = 1 sale (2% of total)
$200,000 - $500,000 = 22 sales (51% of total)
$500,000 - $800,000 = 12 sales (28% of total)
$800,000 - $1,200,000 = 5 sales (12% of total)
$1,200,000 - $2,000,000 = 3 sales (7% of total)
As of October 28, 2008, there are 730 residential listings active on the market in the Morgan Hill, San Martin, Gilroy area, and 252 pending residential listings. Therefore, 26% of the listings are pending under contract as of this date.
Tune in next week for an update on the number of sales in South Santa Clara County!
South County’s Least and Most
Date: Monday October 27, 2008Posted in: real estate market, real estate, Santa Clara County, Morgan Hill, South Santa Clara County, San Martin, Gilroy, residences, housing market, list price
South Santa Clara County has some extreme price differentials going on these days. A few years ago, I never thought we’d see a single family home priced below $200,000 again. And we still have some high quality estates priced in the several millions range. Here are South County’s least expensive single family home and most expensive home on the market today.
The least expensive home shown above, 7450 Rogers Lane in Gilroy, is a bank-owned property that has been on the market for over a year. It is a two bedroom, two bathroom fixer-upper priced at $175,000 and is 1204 sq. ft. on a 3483 sq. ft. lot. This home sold in March of 2003 for $321,000.
On the opposite end of the price range is 2400 McDonald Lane in Morgan Hill. This lovely home is priced at $4,350,000 and was built 8 years ago. It is a 7550 sq. ft. home with 6 bedrooms and 5 1/2 bathrooms sitting on 21 acres in the hills east of town. There are many amenities that add to the value of this home.
In addition to these two homes, there are another 664 single family residences actively listed in the south County that are priced between these two extremes!
Intero Takes Santa Clara County
Date: Thursday October 23, 2008Posted in: Uncategorized, real estate market, real estate, Santa Clara County, Morgan Hill, statistics, Intero Real Estate, market share
I work at the very first Intero Real Estate Services office to open back in 2002. Before this office opened, many of us had worked together previously in Morgan Hill, and so we all moved in together into what was a thriving office from day one. We opened the Morgan Hill branch of Intero on October 22, 2002.
There are now over 60 offices in several states and countries. And, in just 6 years of being in business, on October 22, 2008, there is a good possibility that we will arguably have #1 market share in Santa Clara County - The largest county in Northern California.
Our Intero office has always had the largest share of the real estate market in Morgan Hill. And soon we’ll be able to make the same claim about Santa Clara County. Click on the thumbnail graph below:
