More Buyer Opportunities
Date: Tuesday July 27, 2010Posted in: Buyers, Morgan Hill, San Martin, Gilroy
For the first time since June of 2009, the number of active residential listings in Santa Clara County has topped the number of pending residential listings. Currently in the county there are 3139 active and 2896 pending single family homes and there are 1260 active and 1217 pending condo/townhouses. Considering the currently amazing low interest rates available for mortgages, and you’ve got a bright outlook for buyers!
In our south county area, Morgan Hill has 182 active and 124 pending single family homes and 17 active and 42 pending condo/townhouses. San Martin has 28 active and 10 pending single family homes. And Gilroy has 144 active and 195 pending single family homes along with 5 active and 15 pending condo/townhouses.
homes real estate residential listings santa clara county single family homes
Pristine Morgan Hill Listing Sold In One Day
Date: Tuesday March 30, 2010Posted in: Sellers, real estate, Morgan Hill
I put a beautiful new listing on the market last Thursday, March 25th. We received an offer for over the asking price of $859,000 the next evening, and had a ratified contract by Saturday. Whew! I haven’t seen a listing in that price range sell that quickly in a long time. It just reinforced what I had told my sellers, this is a GREAT time to put your home on the market! Inventory is extremely low right now and there are plenty of buyers out there looking and wanting to take advantage of the low interest rates and buyer tax incentives.
This is a five bedroom, three full bathroom home with 3176 square feet living area. The lot size is 12,196 square feet with the majority of the square footage in the backyard since this is a cul-de-sac lot. The home was built in 1988 and has many charming features.
The home is pristine and well-cared for. With a large, park-like backyard this home offers a wonderful, private area for entertaining. The pool and spa are enhanced with the rock waterfall. There is a corner of the yard for growing vegetables and many fruit trees as well as other flowering trees and redwoods.
The remodeled kitchen features slab granite, custom cabinetry, stainless appliances, a wet bar with a wine refrigerator and large tile flooring throughout the kitchen and adjoining family room. The huge master suite has a large sitting area and walk-in closet. There are a total of five bedrooms and one bedroom is on the ground floor with a nearby full bathroom.
This light and airy home shows extremely well and so buyers were quick to place their offer on it. Another example of a well-cared for home, priced at market value, receiving what these sellers were hoping for: a quick, above asking price offer!
To see a virtual tour of this property, click on this link: http://www.3cim.com/3cim/tour.do?method=viewTour&id=1269276194078&view=3
buyers homes listings months of inventory Morgan Hill prices pricing real estate residences sales Santa Clara County sellers sellers marketMorgan Hill Seller’s Market?
Date: Wednesday March 3, 2010Posted in: real estate, Morgan Hill, seller's market
What a difference a year makes! A year ago many residences sat languishing on the market while buyers were waiting on the sidelines. Fast forward to the present day: large numbers of well-qualified, motivated buyers are combing the sparse south Santa Clara County real estate inventory and now sellers are sitting on the sidelines! With the low real estate inventory in Morgan Hill and the rest of south Santa Clara County, is it a seller’s market? Let’s look at the data:
The first graph shows the number of residences for sale in Morgan Hill. As can be seen clearly, the number in the past few months has been quite low relative to the past two years. This data is backed up by the second graph which shows the months of inventory for active residential listings on the Morgan Hill real estate market. The months of inventory is the number of months it would take to sell all of the inventory currently on the market using current number of sales per month to determine this number.
With these two graphs in mind, sellers should feel confident in listing their homes in this current market. However, as with any market, pricing is the number one factor in whether your home will sell and how quickly it will sell.
The third graph shows the average sale price for single family residences in Morgan Hill over the past two years. Although it does look like prices have inched up over the past few months, sellers should beware asking exhorbitant prices for their homes - if they are serious about selling their home.
Inventory will gradually increase over the next months in Morgan Hill. But for those sellers currently on the market with a well-priced listing — enjoy your opportunity to choose from the multiple offers you are quickly receiving!
buyers homes listings months of inventory Morgan Hill prices pricing real estate residences sales Santa Clara County sellers sellers market26 Million Underwater Homeowners
Date: Tuesday October 6, 2009Posted in: real estate, foreclosures, short sales
Mark L. Strombotne, who practices real estate law in San Jose, spoke at our weekly office meeting this morning. Mr. Strombotne gave us some very insightful, up-to-the-minute information on strategies for financially troubled homeowners. He stated that nearly half of the nation’s 52 million mortgage borrowers will have negative equity by the end of the first quarter of 2011, up from the 14 million at the end of this year’s first quarter, according to estimates in an August 5, 2009 report by Deutsche Bank.
With so many borrowers underwater - or owing more on their home than it’s worth - the risk is high that they’ll default and their homes will go into foreclosure. Moody’s Economy.com estimates that 17.5 million mortgage borrowers will be underwater by early 2010.
default deutsche bank foreclosure homes mortgage borrowers negative equity real estate real estate law short sale
