SOLD WITH MULTIPLE OFFERS IN 8 DAYS!

Fabulous opportunity in West San Jose – a beautifully remodeled 4 bedroom, 2 bath house with top Cupertino schools and exquisite English country garden is now for sale, offered at $1,099,000 at 1486 Larkin Avenue, San Jose CA 95129.  This is not just any ranch style home in Silicon Valley, but a lovingly and impeccably updated, remodeled and maintained home on a scenic, tree lined street.  A visit will convince you that this house has been cared for and upgraded with a tremendous level of detail and sophistication.

Top Cupertino schools, all with API scores well over 900!

Schools are a major driver of real estate desirability in Santa Clara County, and nowhere is that more true than in Cupertino and the parts of San Jose which enjoy its schools.  All three educational levels of school enjoy extremely high Academic Performance Index or API scores.

The grammar or elementary school for this property is John Muir Elementary School (API 944).  The middle or junior high school is Joaquin Miller Middle School (API 981) and the secondary or high school is Lynbrook High School (API 943).  All three of these schools are very highly regarded, and in fact prestigious.

Not just a school district – this is a marvelous West San Jose home and yard!

Lest we treat this as though buyers were only interested in schools, let’s talk about this wonderful house too.

The kitchen is an absolute showpiece with a professional grade Viking range, Vent-a-hood, granite counters, ultra hard maple cabinets (painted white), dramatic vaulted ceilings with 2 large, electronically operated skylights, and much more!  Throughout the home you’ll find high quality elements, including dual pane windows, hardwood floors (some under carpeting), remodeled baths, and on and on.  I invite you to have a look at the virtual tour, embedded below, and to read the description on each page.  There’s even more information immediately below that with the MLS information added too.

We're sorry, but we couldn't find MLS # 81217609 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

How’s the Saratoga California real estate market?

Today we’ll look at the monthly sales numbers for Saratoga, CA 95070 and also view live charts reflecting homes listed for sale on the MLS. Both houses and condos/townhomes will be considered as will varying price quartiles via the live charts.

Monthly Real Estate Update for Saratoga – prices of houses rising:

As with much of the “west valley”, the Saratoga, CA real estate market is a seller’s market, but it does not appear quite so overheated as neighboring – and far more affordable – Cupertino right now. Unlike many other areas, though, inventory is a little looser and is up month over month (which is seasonally expected) and year over year (not a seasonal issue, of course). 

Here are the real estate sales statistics for closed sales in March 2012 among houses in the 95070 zip code (click on link to read the full Saratoga Real Estate Report for houses):

And February

The median sales price, which is the number indicating that half of the homes sold for more and half less than this number, has risen almost 8% from a year ago.  This implies that more expensive homes are selling – and possibly that home values are rising too. The average is also up about the same amount year over year.

Next, please find the basic statistics for closed sales in February 2012 among townhouses & condominiums in the 95070 zip code (see the Saratoga Real Estate Report for condos & townhomes):

And February

To really understand the condo and townhouse market it’s better to see actual sales and compare them quarter by quarter, using similar units.  If you are interested in buying or selling a condo or townhouse in Saratoga, don’t go it alone or rely on online stats – give me a call and we will crunch the numbers specifically for your home and pinpoint the pricing.

Median List Prices of Saratoga Homes for Sale

First, a graph displaying the overview of the median list prices for condominiums and single family homes in Saratoga – all price quartiles combined:

In general, the seller’s market is showing itself for houses in the fact that list prices are rising.  Not so with condo and townhouse pricing. That’s a much cooler market.

Next, the median list prices for single family homes with a breakdown by price quartile. (Please note that the info would be even more precise if broken down by school district, but this particular program doesn’t yet filter by schools.)

In most price points, the list prices are now rising slightly, but most of all in entry level homes. In the last few months we’ve seen the high end home sales start to pick up in Saratoga, with a good run up in late 2010 before sliding earlier.  Starting to improve now, though.

And now, list price of condos by price quartiles.

Interestingly, the condo market is not enjoying at all the decent seller’s market seen among houses in this city.  Every price point appears to be suffering, but the high end most of all.

Inventory of both houses & condos in Saratoga

It’s seasonally typical to have more inventory in summer than other times of the year. Going back a few more years (see below), please note where the peaks are found – always sometime in summer. (Single family homes only.)

It’s less clear, but still visible, with condominiums and townhouses in Saratoga:

Average Days on Market for Saratoga Homes for Sale

Houses by quartile is not much different – DOM was rising across all price points and has been since August until spring, when the bottom and two quartiles (blue and green) reversed the trend. These are the “hotter”or improving segments of the market right now.

It is strangely disjointed in the Saratoga Condo market, though. I can’t explain why this had been so “all over the board” based on just this data. But since August, all four groups appear to be following the same general trend.

My suspicion is that the homes with the better schools are faring the best, but that’s just a hunch based on how well homes usually sell – it’s not provable with this info at hand.

If you’re interested in buying or selling a Saratoga home, please contact me. I’ll be happy to meet with you for a no obligation initial consultation.

Saratoga Real Estate Listings – Saratoga Homes for Sale – Condos, Townhouses & Houses for Sale in Saratoga

If you’d like to browse Saratoga homes for sale, I invite you to have a look here! Below please find all properties currently listed as available on our local MLS.  Please be advised that there are a number of different property types and school districts listed here.  For more precise information on houses, condos or town houses on the market, please contact me via email or complete a form at SiliconValleyHomeHunt.com or on my popehandy.com website.  Either way it will come to me and I will personally set up your search for a Saratoga property. (If you are moving to the South Bay area from far away, please also see my Silicon Valley relocation website for helpful tips.)

Showing properties 1 - 5 of 89. See more city of Saratoga real estate.
(all data current as of 5/23/2012)

1. $1,898,000 : 19171 Allendale Av, Saratoga
   
   5 beds, 3 full baths

   Home size: 3,306 sq ft

   Lot size: 23,220 sqft
   
2. $3,895,000 : 19905 Sunset Dr, Saratoga
   
   4 beds, 3 full, 2 part baths

   Home size: 4,800 sq ft

   Lot size: 1.17 ac
   
3. $1,988,000 : 20795 Russell Ct, Saratoga
   
   3 beds, 2 full, 1 part baths

   Home size: 2,238 sq ft

   Lot size: 22,200 sqft
   
4. $2,088,800 : 14000 Alta Vista Av, Saratoga
   
   5 beds, 4 full, 1 part baths

   Home size: 2,862 sq ft

   Lot size: 11,946 sqft
   
5. $2,890,000 : 20125 Winn Rd, Saratoga
   
   5 beds, 3 full baths

   Home size: 3,684 sq ft

   Lot size: 16,500 sqft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Interested in buying or selling a home in Saratoga?  I grew up there (and in Santa Clara), graduated from Saratoga High before heading off to college, and have been selling homes in Saratoga and nearby parts of Santa Clara County & Silicon Valley since 1993.  I understand the impact of Saratoga’s school districts on home buying decisions, the importance of various locations to market value, and resale concerns that can improve or detract from your return on investment.

Read more about my background on the Valley of Hearts Delight website (sister site to this blog) and learn why my past clients and other readers of the San Jose Mercury News named me “best real estate agent in Silicon Valley” in 2011. There you’ll also see my accomplishments/honors/awards, info on sales experience, and more. 

Or just take a moment to phone me at 408 204-7673, or email me at mary (at) popehandy (dot) com.  If you prefer, you can simply fill out a form online instead.

Cinnabar winery sign (Big Basin Way, Saratoga)

In many communities such as Saratoga, Los Gatos, Los Altos, Willow Glen, Campbell and Palo Alto, there is a high premium placed on homes which are close to the downtown area.  Many real estate agents advertise these as “walk to town” but the idea is simple: it’s nearby, you can stroll, skate, ride or bike, wheel yourself and forget the car.

Downtown Saratoga, also called Saratoga Village, welcomes residents and visitors to a charming, scenic area with fabulous shops, spas, wine tasting venues, restaurants and more.  This part of the city boasts top scoring schools as well as lovely older and historic buildings and a gorgeous park alongside Saratoga Creek. Whether you spend an afternoon or a lifetime in Saratoga, this part of town will call you back again and again!

What do you need to know about buying a house, townhouse or condo in downtown Saratoga?

There are a few points which you are well served to know when purchasing residential real estate in this upscale community. We’ll touch on a few of them here: historic homes, traffic & noise, natural hazards, parking, and special issues with condos, townhouses and PUDs (planned unit developments).

First, this downtown Saratoga Village zone is historic; while not every property is deemed historic, many are and that means that there will be restrictions on remodeling and expansion of single family homes or houses. For instance, original glass in windows may need to remain if you’ve got a Victorian house dating from the 1890s, and expansions may need to be off the back of the home so that the facade keeps its initial look and feel (just examples).  This can be frustrating if you buy a luxury home that “needs work” and you are surprised later. If the house was built before 1950 or so, double check the rules!

Second, traffic and noise can be an issue and vary from day to day as well as from one time of day to another; there are a variety of traffic related concerns.  Big Basin Way is an alternate route to Highway 17 for access to Skyline Boulevard and the coast.  Cars and motorcycles may be thick on Saratoga Avenue, Saratoga-Sunnyvale Road and Saratoga-Los Gatos Road when the weather is good.  Motorcycles can be especially loud when large groups go on a road trip together!  Of course there will be extra cars when a concert is featured at The Mountain Winery (off Big Basin Way) or Montalvo (off Saratoga-Los Gatos Road).  If you have a serene view property it might surprise you how much motorcycle noise can carry – so be sure to visit the property on a warm weekend afternoon or two to check it out.

Additionally, because Big Basin is an alternate route to Highway 17, it can also get a lot of traffic if there’s a problem on 17 in winter due to weather such as with downed trees, mudslides, car accidents with severe backups, etc. So when weather is good and when weather is bad, Big Basin and nearby roads can get very congested and move slowly.

Commuters who live in the mountains as well as others choke Saratoga Avenue at rush hour.  This is slowed further by having to pass two schools (Sacred Heart and St. Andrews) before getting to Highway 85.  Saratoga Avenue has just one lane in each direction through the historic zone, but after the freeway it’s much better.  (Saratoga-Sunnyvale isn’t bad as there are 2 lanes but remember to slow down at Saratoga High – the road is wide so the temptation is to go too fast.)

Natural hazards:  Depending on the location of the home in relation to the village, you could be in a wildland fire zone, in an unstable soils zone, a seismic zone or other “natural hazard” areas.  Also, if you are closer in to the hills or near a creek (and there are 2 in downtown Saratoga), there will of course be an increased contact with wild life, such as deer – but potentially also mountain lions, bobcats, racoons, possum, skunks, etc.  Most people love seeing the deer but others find it upsetting that their beloved garden is viewed as a buffet!

Finally, as with many downtown areas, parking can be a little tricky at times.  Valet parking can be a big help but no matter what, do pay attention to how long you’re in a spot and what the limit is – it can be expensive if you forget!

Are there special issues with Condos, Townhomes or PUDs in downtown Saratoga, CA?

In some cases, yes, PUDs, condominiums and townhouse communities may have special issues due to any of the items listed above.  In 2010 I had a great listing at Saratoga Oaks, a lovely and luxurious townhouse resort community.  Because of their proximity to the hills, the home owner’s association had earthquake insurance and that was quite costly.  The HOA dues covered not just the multiple pools, tennis courts, pool house, roads etc. but also fairly expensive blanket and earthquake  insurance as well. (That listing of mine on Placida Court is sold and closed but you can check the photos out here to get an idea of the area.)

A problem throughout Silicon Valley is condo, PUD and townhouse home owners defaulting on their monthly dues (and any special assessments).  Whenever you purchase one of these types of homes it is very important to know how financially sound the community is.  If there are many defaults, it is possible that the reserve account will run too low, resulting in either deferred maintenance, raised dues or special assessments  for those who are paying.  (With a short sale, some of the owed monies may be forgiven, and with a foreclosure there may be no recouping of debts owed at all.)

There are very few distressed sales in Saratoga, relative to the rest of Silicon Valley, so this risk should be lower in downtown Saratoga or anywhere in that city, but do check the situation out so that yo aren’t later handed a big bill to pay!  Here are a couple of related articles that you might find helpful:

Why are those Silicon Valley HOA dues so high?

Does your HOA have enough in reserves?

Want to learn more about living in this piece of paradise?  Browse listings below – no need to register, just have a look!  And if you want to buy or sell real estate in Saratoga, please contact me.  I grew up there (graduate of Saratoga HS), I sell there, and I’m happy to assist you in making it your home!

Find a home for sale in Saratoga, CA (all of Saratoga, not just downtown):

Saratoga California condominiums or condos for sale

Showing properties 1 - 2 of 2. See more city of Saratoga real estate.
(all data current as of 5/23/2012)

1. $539,888 : 14345 Saratoga Av #28, Saratoga
   
   2 beds, 2 full baths

   Home size: 1,347 sq ft

   Lot size: 1,344 sqft
   
2. $410,000 : 18944 Sara Park Ci, Saratoga
   
   2 beds, 2 full baths

   Home size: 1,100 sq ft

   Lot size: 1,364 sqft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Saratoga California townhouses or townhomes for sale

Showing properties 1 - 4 of 4. See more city of Saratoga real estate.
(all data current as of 5/23/2012)

1. $939,000 : 14593 Big Basin Wy, Saratoga
   
   3 beds, 2 full, 1 part baths

   Home size: 1,854 sq ft

   Lot size: 759 sqft
   
2. $728,000 : 14607 Oak St, Saratoga
   
   2 beds, 2 full, 1 part baths

   Home size: 1,556 sq ft

   Lot size: 920 sqft
   
3. $839,000 : 20580 Oak Creek Ln, Saratoga
   
   3 beds, 2 full, 1 part baths

   Home size: 1,807 sq ft

   Lot size: 1,512 sqft
   
4. $859,000 : 14611 Oak St, Saratoga
   
   3 beds, 2 full, 1 part baths

   Home size: 1,556 sq ft

   Lot size: 920 sqft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Saratoga CA houses for sale – single family homes for sale in Saratoga California

Showing properties 1 - 5 of 83. See more city of Saratoga real estate.
(all data current as of 5/23/2012)

1. $674,000 : 16240 Wood Acres Rd, Saratoga
   
   2 beds, 1 full bath

   Home size: 712 sq ft

   Lot size: 1.24 ac
   
2. $699,000 : 13489 Chalet Clothilde Rd, Saratoga
   
   1 bed, 1 full bath

   Home size: 641 sq ft

   Lot size: 15,404 sqft
   
3. $999,999 : 0 Skyline Bl, Saratoga
   
   3 beds, 1 full, 1 part baths

   Home size: 1,300 sq ft

   Lot size: 11.16 ac
   
4. $1,095,000 : 12695 Saratoga Creek Dr, Saratoga
   
   3 beds, 2 full, 1 part baths

   Home size: 1,964 sq ft

   Lot size: 8,320 sqft
   
5. $1,108,000 : 18701 Wood Dell Ct, Saratoga
   
   4 beds, 2 full baths

   Home size: 2,018 sq ft

   Lot size: 9,000 sqft
   

Listing information deemed reliable but not guaranteed. Read full disclaimer.

Looking for two Almaden houses for two different buyer families:

I am working with two wonderful cash buyer couples looking for homes to call their own in San Jose’s Almaden Valley district (95120 area). We’ve seen everything listed for sale on the multiple listing service so I’m hoping one of my readers will be able to point us to something not currently online.

Budget is up to appx 1 million in both cases. Both are looking for houses with good floorplans and locations with no big issues (no busy roads, not too close to schools etc.). Decent to large backyard sought – regular lots, no patio homes. Prefer homes that have been maintained but open to distressed properties. Location and layout are more important than the amount of updating & remodeling. Both are exceedingly serious and ready to buy now. Both will be owner occupied properties, not investment homes.

They want similar but not identical homes – 3 to 5 bedrooms (3 + den minimum), 2-3 baths, prefer no pool but will consider one with it….

To read more, please view the entry on my popehandy.com website for details on beds, baths, pool, schools area etc.  Please contact me if you have a home that may be a fit for them!!

How’s the inventory?  This is key to both home buyers and sellers in Santa Clara County. Too little inventory of homes for sale pushes prices up, too much housing inventory pushes them down.  Today we’ll have a look at the county level for the general Silicon Valley trends.  Please understand that smaller areas (zip codes or even subdivisions) can be vastly different from the larger trends.

Our MLS no longer provides much historical data – it only goes back a couple or three years.  My I have a subscription to the Real Estate Report, which stretches back a decade.  The most current report covers January 2011 (February’s numbers will be there by the 10th of March) so I pulled these numbers plus those of the same month for prior years.

So what is really a “normal” level of inventory for Santa Clara County houses & duet homes on the market?  I would say that anything in the 2000 to 3000 range is fairly normal.  More than that is overheated, less than that is constricted.  (In the early 90s it was many thousands of homes – if I recall correctly, it was over 8,000.)

Right now is not an extreme market in terms of the availability of homes to purchase in the South Bay.  It feels tough because lending standards are stricter, as are appraisals, and because we are all jittery from the market crash and touch-and-go recovery. Sellers feel beat up over pricing and the new “requirement” that homes need to be about perfect to sell (or have the price slashed to an extreme, as they see it).

But the numbers are really not so bad, when you view them statistically.  The inventory is a little low, but still within fairly normal ranges, historically.

Today we’ll look at the ratio & relationship between real estate listings and sales of houses and duet homes in Silicon Valley over the last eighteen months. The goal is to get a sense of the market trends in terms of the overall absorption of homes for sale.  (We’ll give a glance at condo and townhome sales but the focus is on single family homes.) How hard is it to sell a home?  The answer has to do with supply and demand – the number of listings and the number of sales.

In the graphs below, the reddish brown line represents the number of pending sales.  The blue line indicates the number of listings or homes for sale. Put simply, the closer these two lines are together, the hotter the market – that is, the more of a seller’s market it is.  When they are far apart, it’s more cold, more of a buyer’s market.  If the lines cross, it is a wild frenzy (that does happen in one case, as you will see). Below please find the graph for the homes in Santa Clara County overall (all areas).

Santa Clara County listings to sales Jan 2009 to June 2010

 You can see that these two lines pinch together in about December 2009 to January 2010.  Prices had dropped and investors were swooping in! The  market has cooled since then.

Santa Clara County condo & townhome listings to pending sales Jan 2009 to June 2010

 For condos and townhouses, all of Santa Clara County:Here the two lines  – or the market – were close together for about 3-4 months.  Buyers understood that condominiums in Silicon Valley were bargain priced, and they responded by buying.Now let’s look at various areas around the county.  We’ll take these in Alphabetical order, beginning with Almaden Valley.

Almaden Valley listings to pending sales Jan 2009 to June 2010

 As you can see, the market improved but never got as “hot” as in the county generally.  This is because it’s a more expensive area, and most of what was selling in winter consisted of entry level housing.
  

Cambrian Park listings to pending sales Jan 2009 to June 2010

  Cambrian had a couple of flurries, beginning in the spring of 2009 and again in winter 2009 – 2010.  

Campbell listings to pending sales Jan 2009 to June 2010

  Campbell, which costs about 10-20% more than Cambrian, never got so “hot” by comparison.  

Cupertino listings to pending sales Jan 2009 to June 2010

Cupertino, which is always in demand due to the superior school scores, had a longer than typical run of very close listings to pendings.   

Los Altos listings to pending sales Jan 2009 to June 2010

Like everywhere else, it looks like the fastest absorption of homes for sale was happening last December.   

Los Altos Hills listings to pending sales Jan 2009 to June 2010

   While there was a drop in inventory over the holidays, it was still not a great time for sales for Los Altos Hills last winter.   

Los Gatos listings to pending sales Jan 2009 to June 2010

   The Los Gatos area has fared worse than Los Altos….Sales are now improving, but listings are going on the market at an even faster rate.   

Monte Sereno listings to pending sales Jan 2009 to June 2010

   
Monte Sereno is similar to Los Gatos – listings and sales are both picking up, but new listings are outpacing new sales.

Next, San Jose as a whole – all areas, from Alum Rock and Berryessa to South San Jose, downtown, Willow Glen, etc.   When you view what’s happening in the city of San Jose generally, it is amazing: the numbers of listings did not keep up with the numbers of homes going under contract for 6-7 months.  Talk about a frenzy!   The San Jose real estate market began to cool in spring 2010 and that trend has continued through the summer.  

San Jose (all areas) listings to pending sales Jan 2009 to June 2010

 Saratoga, like other high end markets, is the other extreme. The market improved for sellers during winter (in terms of homes getting sold, but not necessarily for getting the best price), but nothing like what we saw in San Jose.  

Saratoga listings to pending sales Jan 2009 to June 2010

Finally, the Willow Glen market.  The market improved over sinter and wasn’t too bad in Spring, but over summer there has been both a drop in sales and a rise in inventory, making it much tougher on sellers in this part of San Jose.  

Willow Glen listings to pending sales Jan 2009 to June 2010

What can we take away from this?  In most parts of Silicon Valley, in recent months sales have dropped off while the numbers of listings have increased.  This makes it much easier for buyers and much tougher for sellers.   If your home is for sale, it is important to understand that the market is much different now than it was four or six months ago.  Buyers may not tolerate or accept some seller conditions (or pricing) from last winter or spring.  To get your home sold now will require better condition and pricing.  If you rely upon the sold prices, you may be deceived since the market is not the same.  Too much supply and not enough demand will put downward pressure on prices.  

Buyers who are jumping into the market now are bargain hunting.  Buyers, it’s a great time to buy – it may not stay like this for you a lot longer with fantastic prices and interest rates both!

Sellers, if you aren’t prepared to sell at today’s market values, you may want to wait until the market can bear your price. Otherwise the odds are that your home will languish on the market, racking up days on market but not getting sold.  To sell, your home has to be the best value and the most attractive home, priced in the bottom 20-30% of similar homes for sale.

The information here is general and what applies to one neighborhood or area may not apply within certain price points or school districts, for instance. For more information about your home or area, please call or email me.

Numbers from MLSListings.com, graphs created on that site - info deemed reliable but not guaranteed.

In Almaden Valley, like in other parts of San Jose and Silicon Valley, some parts of “the market” are hotter than  others.  The real estate sweet spot appears to be homes priced in either the entry level or move-up markets – but things cool considerably as the homes become more elegant, grand and luxurious.  (This appears to be true across all of Santa Clara County: the most affordable homes are still the hottest segment of the realty market.)

Months of Inventory in Almaden Valley

Here’s how the current inventory and sales breaks down, together with the months of inventory, for the Almaden Valley part of San Jose (95120 zip code). Info from MLS Listings deemed accurate but not guaranteed. The “closed” column represents homes closed (houses & duet homes) in the last month.

As you can see, up to about $1,200,000 it’s a very strong seller’s market with less than 2 months of inventory. But beyond that price point, it’s suddenly a completely different market and is instead a very strong buyer’s market.

What about distressed property sales in Almaden?

There are almost no bank owned properties currently for sale or recently closed in Almaden – just 1 in the entry level price band which is currently listed for sale.

There are not many short sales in Almaden: right now just 5 for sale: 3 in the lowest of these five price groups, 1 in the 2nd lowest and one in the highest. Closings among short sales are also few in number: 2 in the lowest price point and one in the second lowest.  The absorption rate or months of inventory among short sales was 1.5 in the lowest price point and 1 month in the second lowest. No closings among higher priced homes that were also short sales in the last month.

How About Home Prices in Almaden?

Altos Research (to which I have a subscription) has a wonderful system of charts which can display the market data in a wide variety of ways, but please be aware that they track list prices, not sold prices.

Here’s a look at the Median List Price of all Almaden Valley houses & duet homes over the last three years:

Notice all those dips? Now look at the dates – they all occur in January or in winter. It’s very consistent. So is the upswing in prices which follows. So to a degree, the up & down is somewhat predicatble or “seasonal”. We tend to see the lowest prices in winter – that’s true for most of Silicon Valley. It’s just that normally – if you were to track 30 years or so – you’d see that most of the time the overall movement in price is up, rather than down. It looks like the downward trend may be getting reversed, but it will take more time and data to confirm that.

Next, the same data but broken down into four equal price points or quartiles.

Taken together, the dips seem a little milder than might be accurate. Here’s just the top tier, median list price in Almaden:

Upper-middle tier:

Lower-middle tier:

And finally, the bottom tier:

Taken by themselves, the median list prices seem to be pretty negative news, though there’s now an “uptick” in progress.

Almaden Valley Days on Market

If we look at the days on market (which is a helpful number, but not as strong as the absorption rate), we see the drama that is our market change in much of the Almaden area. This next chart displays all price quartiles combined.

This is much more than a little reversal or a seasonally predicted trend. Let’s see how it plays out if we break down the quartiles separately:

It looks a bit chaotic, but please note that all four price groups are displaying the same change in the last few months – a very sudden, steep drop in the days on market or DOM. You may also be able to make out that the DOM tends to peak each year in the winter season. This part is normal and seasonally expected. What’s not normal is the “falling off the cliff” kind of change which is being experienced in all price points.

Inventory of Almaden Valley Homes for Sale

Almaden inventory of homes for sale, too, is a little reminiscent of the Giant Dipper over at the Boardwalk in Santa Cruz – lots of steep ups and downs over the last 3 years:

Each of the four quartiles has identical inventory patterns, so it is not helpful to break this one down by group.

Market Action Index in Almaden

Altos has its own proprietary “Market Action Index” by which they note if the market is more in the buyer’s or seller’s favor. For the Altos MAI, 30 is the cutoff – below that is a buyer’s market, and above that is a seller’s market. Here’s the MAI for all price points combined or “Almaden as a whole”

As a group (above), it’s very much a buyer’s market. But how about by price quartile?

Still a buyer’s market, but better for the less expensive homes, just as we saw when viewing the absorption rate or months of inventory at the beginning of this post. It might be clearer if we looked at a smaller window of time. Let’s see just the last 6 months:

Interesting that the upper middle (2nd from top) had been the “best” and has now fallen to second worst position. The very worst is reserved for the most expensive homes, which we also saw with the absorption rates.

Of all four price points, the lowest (or most affordable) is the one that seems to be improving the most. So we’ll see if this continues and it pushes through to hit the number where Altos would (also) call it a seller’s market. Based on the absorption rates shared at the beginning of this post, I would say that it already is a seller’s market in the bottom price points of the Almaden Valley real estate market. Conversely, the luxury home market in Almaden is taking a beating right now.

Get Historical Data on the Almaden Valley Realty Market

Want more information, with historical data on the Almaden Valley real estate market trends and statistics? Or data on the condominium & townhouse market in Almaden?  Please visit my Real Estate Report page for Almaden Valley homes, which is automatically updated monthly and contains monthly, quarterly and annual info dating back to 2001.

Find Almaden Valley Homes for Sale Now

What’s on the market or listed for sale in Almaden Valley right now?  Do a “real time” search that reqires no registration!

Search Almaden Valley Homes for Sale

Additionally, you may also search for homes by map.  This may appeal to you more if you want to be near a particular school, park, the community center, or any other landmark in 95120.

Search Almaden real estate for sale by map

If you search by map, the link above will pull up most or all of San Jose.  Almaden will be in the lower right corner of the map.

Just browsing? You can also view a list of homes for sale by price range
Almaden Valley Homes under $1,000,000
Almaden Valley Homes between $1,000,000 and $2,000,000
Almaden Valley Homes $2,000,000 and up

A plat map comes with your preliminary title report (provided by your title company when you purchase or sell a home in California), tucked away at the back and somewhat mysterious with lots of numbers in small print.  It holds quite a bit of helpful information if you know what it is you’re seeing.  Today we’ll view a sample of one of these – breaking down the plat map shown as a small thumbnail image on the right to more readable parts so that you can learn how to “read” or understand a plat map.  By the way, this example we’re using is for a lovely San Jose neighborhood in the Cambrian Park district which borders Los Gatos and is near Carlton Avenue, Los Gatos-Almaden Road and Union Avenue.

First have a quick look at the thumbnail image on the right.  You can tell it’s some sort of map with official looking writing in the lower corners.  Perhaps most salient even in the smallest image, one important feature of the plat map is that it provides the orientation of the properties (north/south/east/west).  That info is now readily findable online, but this used to be the easiest way (and most accurate) to answer the question “which way does the home face?” Look at the map, find the parcel and you’ll know its orientation.

The plat map also provides the Tract Number (and often the name given by the builder for the subdivision – in this case, Carlton Terrace). Along the right side, you can see the source of this information: the office of the county assessor for Santa Clara County.

Let’s look a little closer still.

Looking at an individual address or lot, you’ll note that there’s more information.  The house number for each parcel is listed, the shape of each property given (parcel boundary) and the approximate lot dimensions are provided too.  When a dimension is the same on both sides or as with the adjoining property, it’s not listed.  In the case of these homes, most of them have 60′ to 61′ wide lots and approximately 110′  to 113′ deep lots -  very typical lot size for a Cambrian Park home.

What about the large numbers in the middle of each property?  One of them is the builder’s lot number and the other is the parcel number assigned by the to the property by the county assessor’s office. The parcel number should be underlined and more prominent (bolded, italicized etc.).

The assessor’s parcel number, or APN, for each property is created by referring to the Asessor’s Book Number, the Assessor’s Book Page Number plus the individual parcel number, with each of these sets separated by hyphens.  To find the book and page number, look in the corners of the page with the plat map – they will be listed clearly.  In our sample, note the lower right hand corner.

So for the homes on this plat map, the APN will be 421-18- whatever the parcel number is for that particular home (the bolded, underlined, italicized number).

Can this information be really useful to you? You bet it can.  Sometimes we see homes for sale in which the lot size is said to be a certain amount, say 6000 SF, but having seen the yard, it appears much, much larger (or smaller). By studying this page, you can check the dimensions and see if the number quoted as the lot size is correct or not. 

Several times in my career I have found a lot size to be under-estimated or under-reported in the county records.  This is especially true with irregularly shaped lots (such as pie-shaped lots or lots with many sides to them – more than four).  If a builder primarily subdivided with 6000 SF lots, that number may be inputted to the county records for every parcel, even if the one you’re looking at buying or currently own is much, much more.

I won’t say it’s a fun geometry project, but learning that a home is sitting on a 9000 or 10,000 SF lot rather than 6000 is money in the bank if you’re buying or selling such a home.  Many Realtors will not get the lot measured in person or referencing the plat map, but this extra step is extraordinarily helpful in understanding a home’s true value.   So first we must understand how to read a plat map, then know and act on what we see if there’s anything that does not look correct.

Plat maps are so important that if there’s a small typo in them, the lender for a buyer will not fund the loan until it’s corrected. (I know, it happened to me about 10 years ago on a Willow Glen home I listed and sold on Arata Court.)  When you get the preliminary title report, whether you’re buying or selling, don’t ignore it!  The rest of the contents of the prelim are also important, but for today I want to encourage agents and consumers to take the time to look also at the parcel map at the end of the prelim and see if everything looks correct.  It may save you both time and money to catch any errors upfront.