How’s the real estate market in the Willow Glen area of San Jose?  Like the greater Silicon Valley region, Willow Glen is comprised of many smaller micro-markets.  It will be different in north Willow Glen, Palm Haven or in a walk-to-town area than it will be in the Dry Creek area or St. Francis Woods neighborhood – let alone differences for school districts, price point, sale type (regular versus short sale or bank owned), zip code and home type!  It’s a patchwork of all these smaller markets, in other words.  What’s happening in one segment might be very different than in another.

Today’s post will be the broad view of Willow Glen and comments may not apply to your specific property – for info on your neighborhood, call or email me!

Disclaimers aside, overall it is a seller’s market in Willow Glen right now, but it’s cooler than other areas with better schools such as Almaden, Cambrian and Cupertino and not everything is selling (and certainly not getting the prices that many sellers want).  The best homes (best condition, pricing, marketing and regular sale) are selling in 1-3 weeks.

Below are the basic numbers, stats and trends from the closed sales of houses in March

and in February:

And next, of Willow Glen condos, where it’s been a cold buyer’s market but recently heated up:

Next, February…

What about home prices in Willow Glen?

Below please find the Altos Charts (to which I have a subscription). NB Altos uses LIST prices, not solds (also they go by zips or cities, so don’t cover Willow Glen per se with it’s partial entry into the 95124 zip).

1 – Houses in the 95125 zip code – history, all prices combined.

2 – Houses in the San Jose, 95125 zip code, by price quartile over last 180 days

3 – Condominiums and townhouses in Willow Glen, San Jose 95125 – all quartiles combined over the last few years for median list price:

4 – Condo and townhomes, median list price, by quartile, last 180 days only:

It is interesting to see the rise in list prices here as opposed to the overall DROP in sales prices we saw on the RE Report. Of course this could be a function of all kinds of things, including the impact of distressed sales.

All kinds of things can impact the probable buyer’s market for a particular house or home, but especially distressed sales nearby. For information on what the market is doing in your exact neighborhood, please call or email me today.

Willow Glen homes for sale

Browse residential properties – houses, duet homes, condos and townhomes in Willow Glen which are listed for sale on the MLS by type below.

1. Listings of houses for sale in Willow Glen, San Jose 95125

Showing properties 1 - 5 of 61. See more 95125 zip code real estate.
(all data current as of 5/23/2012)

1. $849,000 : 1776 Leigh Av, Campbell
   
   4 beds, 3 full baths

   Home size: 2,160 sq ft

   Lot size: 7,700 sqft
   
2. $899,000 : 1712 Isabel Dr, San Jose
   
   3 beds, 2 full, 1 part baths

   Home size: 1,944 sq ft

   Lot size: 8,925 sqft
   
3. $295,000 : 730 Drake St, San Jose
   
   2 beds, 1 full bath

   Home size: 1,048 sq ft

   Lot size: 5,450 sqft
   
4. $879,000 : 1055 Franquette Av, San Jose
   
   3 beds, 2 full baths

   Home size: 1,296 sq ft

   Lot size: 10,700 sqft
   
5. $849,000 : 730 Coe Av, San Jose
   
   3 beds, 3 full baths

   Home size: 2,050 sq ft

   Lot size: 7,280 sqft
   

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

Showing properties 1 - 5 of 5. See more 95125 zip code real estate.
(all data current as of 5/23/2012)

1. $519,900 : 676 Willow St, San Jose
   
   2 beds, 2 full, 1 part baths

   Home size: 1,376 sq ft

   Lot size: 1,306 sqft
   
2. $773,500 : 1624 Sparkling Wy, San Jose
   
   3 beds, 2 full, 1 part baths

   Home size: 1,954 sq ft

   Lot size: 2,128 sqft
   
3. $595,000 : 1613 Sparkling Wy, San Jose
   
   3 beds, 2 full, 1 part baths

   Home size: 1,954 sq ft

   Lot size: 2,128 sqft
   
4. $535,000 : 421 Willow Glen Wy, San Jose
   
   3 beds, 2 full, 1 part baths

   Home size: 1,210 sq ft

   Lot size: 988 sqft
   
5. $598,000 : 423 Willow Glen Ct, San Jose
   
   3 beds, 3 full, 1 part baths

   Home size: 1,578 sq ft

   Lot size: 1,108 sqft
   

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

3. Listings of condominiums (condos) for sale in Willow Glen, San Jose 95125

Showing properties 1 - 3 of 3. See more 95125 zip code real estate.
(all data current as of 5/23/2012)

1. $345,000 : 2132 Sunstruck Ct, San Jose
   
   2 beds, 2 full baths

   Home size: 1,144 sq ft

   Lot size: 1,566 sqft
   
2. $299,000 : 509 Dix Wy, San Jose
   
   4 beds, 2 full, 1 part baths

   Home size: 1,426 sq ft

   Lot size: 2,116 sqft
   
3. $379,950 : 1336 Greenwich Ct, San Jose
   
   2 beds, 2 full baths

   Home size: 1,071 sq ft

   Lot size: 1,500 sqft
   

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

Coming Soon! On MLS Thursday, Feb 23 and Open House Saturday Feb 25 and Sunday Feb 26, 2012 2 – 4pm

870 Brevins Loop: Beautiful, Elegant Willow Glen Home for Sale!

New Listing, Please Stop By!  Open Sat/Sun, Feb 25-26, 2012 from 2-4pm

In a couple of days I will put this new Willow Glen listing of mine on the MLS and I look forward to holding it open this weekend for the first time. If you are in the area, please swing by and have a look! I always enjoy meeting the readers of my blog & this is a home you will enjoy seeing!

The house & yard are full of amenities that Silicon Valley home buyers will appreciate:
hardwood floors, built-in bookcases and media niches, slab granite, gas cooking, stainless steel appliances, lots of windows & natural light, a luxurious master sweet with 2 walk-in closets and a spacious bathroom with big soaking tub, separate shower and two separate vanities. Central air conditioning.   The lush backyard boasts two trellises, sandstone hardscape & custom lighting. The front yard is easy-care: the HOA takes care of the maintenance!

More Details on 870 Brevins Loop, San Jose (Willow Glen)

As of today, there are ten houses on the market in “the Willows”.  What makes one home better or more desirable than another? It’s all about the details!

By the numbers:

3 bedrooms + loft (4 bedroom plan/option)
2 full baths, 1 half bath
2292 square feet of living space (approximately)
3920 square foot lot (appx)
2 car garage
Living-Dining Room
Family Room
Laundry Room
Master Suite includes 2 walk in closets, large bathroom with big tub, separate stall shower and two sinks with vanites.

Special amenities:
Air conditioning
Water softener (owned, not leased)
Reverse osmosis water purification system

Stunning Gourmet Kitchen at 870 Brevins Loop in The Willows of San Jose (Willow Glen)

The Gourmet Chef’s Kitchen

slab granite counters
maple cabinets
beautiful tile backsplash
newer stainless steel appliances
stainless sink & amazing faucet
tile floors
recessed & drop down lights
under the cabinet lighting
large island with breakfast bar
nook with access to rear yard &
open to family room

The kitchen is located at the rear of the home and is open to the nook, family room and elegant back yard.  It’s just steps away from the formal dining area, too, so is ideally located in the home.

The Use of Wood: Hardwood Floors, Wood Cabinets & Niches

Loft bookcase and media center

The kitchen, of course, displays a great deal of maple cabinetry.  But wood is found throughout this home.

Beautiful hardwood flooring is found in the family room, living and dining rooms as well as on the first few steps of the stair case and the landing by the half bath.  (The kitchen and baths all have tile floors.)

The family room enjoys a lovely wooden media niche near the fireplace, and the loft upstairs has a beautiful and useful wooden bookcase/media niche as well.

All interior doors are white, raised panel doors (except for the two walk in closet doors in the master bedroom suite).

The wood found throughout the house makes it feel traditional & contemporary at the same time – “warm & homey” as well as personalized.

The Exquisite Backyard – Showpiece of The Willows

Sandstone patios, walkways and walls meander through the yard, with trellises at one end and also in the middle

Step into the backyard at 870 Brevins Loop and you will find an uncommonly elegant yard, beautifully designed using sandstone patios, walkways, walls and seating areas.

Focal points include two trellises, one just opposite the sliding glass door and featuring a cascade of Morning Glories and the other at the far right side of the yard, with a bench for taking in the scenery.

Mature plants, bushes and trees ring the yard: birch, Japanese Maple, annuals, vines and more.  By day it can feel like a retreat.  By night, though, it is also beautiful, thanks to dramatic lighting. Some small, automatic lighting is built along the walls. There are also two posts with lamps at the far right and far left of the yard. And, of course, there are two more lights by the slider into the kitchen.

Links for More Information & More Photos of this Willow Glen Home

If you would like even more details on this fine home, please visit a page on one of my websites with even more details:  870 Brevins Loop, San Jose CA 95125

Or if you’d just like to see more photos, visit the virtual tour, which has about 65 photographs of this property.

To learn more about The Willows community, Rubino Park and the area generally, please read this post on my Valley of Hearts Delight blog:
Introducing a Beautiful Willow Glen Neighborhood, “The Willows”

Browse real estate listings and find homes for sale in San Jose & Willow Glen:
www.HousesForSaleInSanJose.com

The annual market report is out at popehandy.REReport.com and we can now learn how 2011 compared to 2010.  The median sales price for houses in Santa Clara County was off 5.3% overall.  But from one part of the valley to the next it varied wildly with 6 cities or areas finding themselves in positive territory while others were off by double digits.

In the image to the left, I’ve put into bold the cities where the median sales price of houses which sold and closed escrow in 2011 were ahead of 2010′s pricing.

What is it that makes Gilroy, Los Altos Hills, Los Gatos, Mountain View and Palo Alto “in the black”?

Most of these cities/towns are upscale, west valley communities.  But so are Saratoga, Cupertino, and Monte Sereno.

Gilroy was especially hard-hit with the housing downturn so perhaps in that case, it’s just coming back into more of a balance. (Then again, so was Morgan Hill and it’s still off by 12%.)

The LinkedIn IPO and others in the Palo Alto area drove prices up for some parts of the housing market nearby and it’s likely that this explains the positive growth for Palo Alto, Mountain View, and Los Altos Hills.  That said, it would seem that Los Altos, and perhaps even Sunnyvale would have seen stronger numbers on the same account.  Perhaps school scores are the key driver here.

Los Gatos, Saratoga and Monte Sereno often behave somewhat similarly as they are adjacent to one another and often attract similar home buyers who want good schools, a nice downtown area nearby and scenic beauty with the hills.  The annual numbers show Monte Sereno down 6.7%, Saratoga down 2% but Los Gatos up 6.4%.  With Monte Sereno, there are very few sales each month and each year (only about 4,000 residents), so there can be a wider swing without it necessarily being accurate. Saratoga and Los Gatos each have about 30,000 people who call these areas home, though, so the data is much more helpful.  Saratoga and Los Gatos both have multiple school districts, views, homes with better proximity to “downtown” and more variables – I think we’d have to dig a lot deeper to learn why these two neighboring markets are so diverse.  We might also have to look at multiple years of data to see if Saratoga spiked while LG slumped to explain the difference.

Coming in at last place: the Santa Cruz Mountains or Los Gatos Mountains area (zip code 95033), where the median list price of houses sold slipped 17% from the year before.  This beautifully scenic region covers a lot of territory and several quite different neighborhoods, some more convenient and others more remote.  It often takes much longer to sell a home in the mountains than on the valley floor but it can be a great “bang for your buck” for great schools, clean area, less crowding, etc.  The remoteness of some homes, the increased rain and other challenges generally make this part of the valley a more challenging real estate market most of the time, and in a down market that’s even more true.

Palo Alto, Mountain View and Los Altos each have regions which can be tracked in addition to the cities as a whole. If you’d like to see these numbers, please visit http://popehandy.rereport.com and then click on Yearly, then select the city, then the neighborhood and you can see how Baron Park or other areas are faring in particular (also for their monthly or quartly reports).

Areas within San Jose, like PA, MV and LA, can be tracked. Since I am very active in several of them (Almaden Valley, Cambrian Park, Willow Glen, Blossom Valley and others on the west side), I want to share those next.

The median sales price of houses which sold & closed in 2011 in the City of San Jose was down 5.9%, lower than the county as a whole.  Most of San Jose was worse off than the prior year – all except Alviso!

Alviso, which was a separate town until not so long ago, sold with a double digit increase in the median sales price – a whopping 10.6% higher than in 2010.  Affordability and investor activity are most likely the cause – more demand and less inventory than the year before. (I suspect either fewer distressed properties or that they were gobbled up quickly. Knowing would require more research.)

Downtown or central San Jose took a beating with the median sales price down 9.6%.  Why did it fall from grace?  Not everything in this area is affordable – consider that it includes Naglee Park, The Rosegarden, and a few other tony areas. I suspect it’s the number of foreclosures (REOs) and short sales but I don’t have that information at hand.  It would require a much closer look that our brief survey here to uncover what’s happening.  (We know that there are many unsold, new condos in downtown San Jose but those should not be impacting the sales of single family homes.)

In future articles or posts I hope to look at a few of these areas more carefully to see what is causing the great diversity between the areas showing improvement over 2010 such as Alviso, Palo Alto, Gilroy, Los Altos Hills, Los Gatos and Mountain View versus those which are really hurting: downtown San Jose, the Los Gatos Mountains, Evergreen, Morgan Hill, Milpitas.  Very likely it’s a combination of the distressed market activity in some areas, school scores, the pricing tier (i.e., homes between 1 and 2 million near Palo Alto) and more factors.  With real estate, it’s always local – and that’s just the starting point.

Located on a quiet, tree lined street in the St. Francis Woods neighborhood of Willow Glen, San Jose, a stunningly remodeled and spacious home at 1548 Santa Inez Drive is a dream home in a fabulous neighborhood.

Offered for sale at $875,000 – Approximately 2028 square feet on a comfortable 8250 SF lot (per county records), this lovely 3 bedroom, 2.5 remodeled bath home has truly spacious living areas, a kitchen that will knock your socks off and a backyard perfect for entertaining. Please enjoy the virtual tour, below, then get all the details next.

Highlights of this Willow Glen home for sale include:

• 3 bedrooms with lovely crown moulding & large, classic base
• 2.5 elegantly remodeled bathrooms
• High-end, remodeled kitchenfeaturing slab granite counter tops and complimentary tile back splash with granite accent pieces
  • Stainless steel sink and appliances
    • GE Profile set of ovens (2 plus warming drawer)
    • Miele 5 burner gas range
    • Bosch dishwasher
    • GE Profile microwave
  • Extra high ceiling with a canopy of recessed lights
  • Tasteful and unique two tone cabinets – wood on bottom, black on top pieces with under-cabinet lighting installed, pullouts and “lazy Susan” too
  • Loads of storage & counter space plus a pantry
  • Floor made of large tiles, theme carried from entry hall into half bath, laundry area and pantry too
• Separate Living, Dining and Family Rooms 
  • Large Living Room with cathedral ceiling and fireplace offers direct access to back yard through inviting French doors
  • Spacious Dining Room includes hardwood floors, a fireplace, and French doors
  • Big Family Room with hardwood flooring, fireplace, and French doors to back patio and pool
• Laundry Room off kitchen & garage provides attic access through pull down staircase/ladder
• Large pool and spa in private back yard
• Attached two car garage
• Newer stamped concrete driveway
• Whole house air conditioning
• Dual pane windows
• Inspections done!  Regular sale!
• 2028 SF of living space & 8250 lot size per county
• Competitively priced at $875,000

This beauty of a home will steal your heart – especially the kitchen!

Fabulous location: St. Francis Woods neighborhood of Willow Glen, San Jose

The location is awesome, too.  The community-oriented St. Francis Woods neighborhood is located close to the intersection of Meridian and Hamilton, just off Blackford (in the area of Willow Glen served by the Campbell Union School District). While not quite an “urban neighborhood“, it is easy to walk to a few shops, including a pizza parlor, from there.  It’s easy to get to downtown Willow Glen, downtown Campbell, The Pruneyard or to hop on the 880/17 freeway or 280.  (It’s far enough to be quiet, though!)

Seeing the property at 1548 Santa Inez Drive, San Jose (Willow Glen)

Showings are a little restricted during weekdays but extremely easy on weekends.  Easiest of all – please plan to stop by the open house this Saturday July 30 & 31, between 2pm and 4pm to have a look.

1548 Santa Inez Drive
San Jose (Willow Glen), CA 95125

Cross streets are Blackford and Meridian

Homes as beautifully remodeled as this one seldom can be found in Willow Glen at this price point and there is high demand for a turnkey home in the Willow Glen real estate market so they sell fairly fast – don’t wait!

We're sorry, but we couldn't find MLS # 81127595 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

If you arrived into Silicon Valley via Highway 101, driving south from San Francisco, you might believe that the Santa Clara Valley, the San Jose area and Silicon Valley as a whole has got to seem to be the ugliest place on earth. Although heavily traveled, that is not the “scenic route”.

So, too, if you are looking for a place to live and are groping to find a place that is reasonably priced, fairly safe and not a terrible commute distance. You might not even have “is nice looking” on your wish list. You might not think it’s possible if all you ever see are the ugly concrete tilt-up buildings in north San Jose, Santa Clara, Alviso, or anywhere along the 237 corridor.  That area is an architectural wasteland.

Let me assure you: there are a lot of beautiful places in Silicon Valley where you can rent or buy a home. But how do you find them? It helps a lot to have a local give you a few pointers.  I’ll give you some tips today on finding a scenic place to live.

Hills – An easy way to find a scenic location to make your home is to settle near the hills, especially those in the west valley (the Santa Cruz Mountains or the Coastal Range) as they are green year-round. Communities at the base of the west valley foothills include, in Santa Clara County, Palo Alto, Los Altos, Los Altos Hills, Cupertino, Saratoga, Monte Sereno, Los Gatos, and the Almaden Valley area of San Jose. All of these areas are adjacent to the hills or mountains and offer far better than average schools (many of them qualify as great – compare costs between these areas).

Of course, if you go into the hills instead of just being near the base of them, there will be valley views as well.  If you go to the summit area of the Santa Cruz Mountains, you could really luck out and get a 360 degree view of the Monterey Bay on one side and the valley and San Francisco Bay on the other.  (But that would not likely be a short commute to most of Silicon Valley.)

In San Mateo County, there’s Menlo Park, Redwood City, Belmont, Hillsborough…most of these communities are more scenic as you go closer into the hills. Some even offer a view of the San Francisco Bay.

In the east foothills of San Jose, there are many lovely areas too. Among my favorite are the old section of Alum Rock (with beautiful Spanish style houses up near the country club), some of the rural areas of the Berryessa district in San Jose and the southern part of Evergreen (near Silver Creek and the Villages).

Other hills and knolls - the coastal range and east foothills aren’t the only areas with a higher elevation and views.  Think of the Santa Teresa Foothills Blossom Valley, Santa Teresa areas), Communication Hill (Blossom Valley, Willow Glen), or the occasional small little hill such as Lone Hill in the Cambrian district of San Jose.  You don’t have to get very high up to have a great view.  Look at the terrain maps for small elevations and check those areas out!

Waterways - In addition to the mountains, there are many scenic spots in Silicon Valley alongside rivers, creeks and streams.  When I was a newlywed (back in 1985), my husband and I lived alongside Stevens Creek – that is, the waterway, not the major road – in Sunnyvale.  The apartment complex had a number of units overlooking the creek and there were tons of trees providing a great, green view.  You can check out that apartment complex online – it’s called Brookside Oaks.

Back to the bayfront housing:  you can get waterfront homes in Redwood Shores and Foster City, which are on the north end of “Silicon Valley” on the Peninsula.  Many of those areas are on landfill, and although well compacted, that fill is sitting on old bay mud.  Some structures in those areas have had problem with an undue amount of movement.  Others have had salt water get to their foundations, which can cause the re-bar inside to rust (making the foundation far less strong).  Both communities are super clean and attractive (I have sold homes in both).

Not quite Silicon Valley, Santa Cruz does offer many really lovely places in which to live too – great views from many spots.  Adjacent to Neary’s Lagoon there are apartments, townhouses (some of which are for rent) and low income housing too.  It’s a very scenic part of Santa Cruz and just about a mile from the beach on foot.  A few high rise buildings, such as the condo complex on Broadway, feature views of the Santa Cruz Beach Boardwalk and the Monterey Bay.

Flatlands – not to worry if you strike out with the hills and waterways.  There are still many lovely areas in Silicon Valley that are not included in those areas.  One is the beautiful San Jose neighborhood known as The Rosegarden. It is centrally located, with a great wide open space at the park, and loads of lovely older homes with tons of character.

If you enjoy classic architecture, you might check out a few areas closer to downtown San Jose: Naglee Park, Vendome area and Japantown.

Outside of San Jose, there are scenic urban living or downtown areas in the Willow Glen part of San Jose, downtown Campbell, downtown Saratoga, downtown Los Gatos, downtown Mountain View, downtown Menlo Park, downtown San Mateo, downtown Los Altos and of course the great magnet of them all, downtown Palo Alto.

In some of these places, the downtown area is also right up against the hills – and that is truly beautiful!  (Think Los Gatos, Saratoga, Los Altos, Menlo Park.)  One nice townhome community in Saratoga has both green views within the complex, is right next to the coastal foothills and is just steps away from downtown Saratoga.  The area has top rated schools too.  If interested, check out Saratoga Oaks.) And don’t miss either Japantown or Santana Row for urban living!

Silicon Valley has a number of neighborhoods with great ambiance despite the absence of either hills or a quaint downtown.  Santa Clara’s “old quad” neighborhood (located near Santa Clara University) is just such a spot.

And, of course, there are spots in Santa Clara County with stunning golf courses, parks or heavily wooded or open areas that may not belong to the public but which create lovely vistas nonetheless.  A few orchards still dot Sunnyvale, San Jose, Saratoga and other parts of the valley. (New townhouses on Bersano Lane in Los Gatos are on a hill overlooking Lake Vasona. Beautiful views!)

For scenic senior housing, a retirement home or residential care facility for the elderly (which can mean independent living, assisted living, nursing or other), quite a few spots enjoy scenic views also:  Belmont Village in San Jose looks out over Santana Row on one side and the Winchester House on another; the Atrium in San Jose’s Blossom Valley has views of Mt. Umunhum; Saratoga Retirement Community enjoys a lovely campus but also is in among gently rolling hills and has a view of the Santa Cruz Mountains; the Villages in San Jose’s eastside community of Evergreen sits among lovely rolling hills and a golf course in the middle.

Many people relocating to the San Francisco Peninsula or the South Bay come from areas where homes cost half as much and seem to be twice as big, where there may not be so much congestion and where there is more open space.  We do have places like that, but it’s important to let whoever’s helping you know that this is important.    Whether you’re here to rent an apartment or purchase a townhouse or condo, it can be in a scenic place.  You just need to find them!

How is the real estate market in the Willow Glen area of San Jose?  There are multiple ways of viewing it – via price point, school district, proximity to “downtown Willow Glen”, by numbers or percentages of distressed sales (sale type), and many more criteria.  Today we’ll look at the broad market numbers for the MLS “area 10″ (all of Willow Glen) and at times just the zip code for San Jose 95125, which covers the majority of the Willow Glen area.  This post will only cover houses or “single family homes”, not condominiums or townhomes.

I ran the months of inventory for homes in Willow Glen (our MLS area 10) by sale type.  Here’s what I found – most of the market appears to have about 4.95 months of inventory, with short sales being considerably longer.  (This may have had different results had I isolated certain school areas or price points – this is a “sweeping view” of the area only.) The National Association of Realtors says that less than 6 months is a sellers market, but for our area, this is fairly “cool” and most sellers would not find the market to be all that much in their favor. (Six months is supposed to be a balanced market.)

It is unusual for there to be so little variation in the MOI, so I double checked but this appears correct. Often bank owned homes or REOs fly off the market.  Odd that it’s not happening here, too.

Next, a selection of statistics and trends in the numbers from my REReport for Willow Glen (click on link for more info) – prices here reflect sold prices (median and average), not list prices:

Prices appear down from the prior month but up from a year ago.  That’s good news for Willow Glen home owners, who hope that the worst is now behind us.  Days on market are better than the previous month (but worse than a year ago) and inventory is up from last month but almost the same – just a little less – than a year ago.  It’s a mixed bag.

The next batch of info comes via my MLS, which I pulled together using a new tool, the Realtors Property Resource.  What I like about this set is that it includes distressed properties (banked owned homes or REOs as well as short sales and pre-foreclosures).

If the lack of new notices of default continues, we’ll see a lot of improvement in the Willow Glen market.

Next let’s look at the data provided by Altos Research (which uses list prices rather than sales prices). This is helpful as it views the listing activity by price quartile. That is, you can see that “the market” for the top tier or luxury homes in Willow Glen is behaving a bit differently from entry level houses in the same general area.

First, the median list price for San Jose 95125 (which covers about 90% or more of Willow Glen), going back as far as 2005:

It looks rather dismal, taken historically, until you pause to note the recent and very welcome uptick.

Next, the same data but broken down by price quartile - I think it is very interesting that the top tier of pricing there is at almost the same point as it was at the beginning of this time period. That certainly isn’t true for the other groups!

Right now the three lower price ranges seem to be moving up while the luxury home prices are moving the opposite direction.

Same data but just the last one year – not so dramatic:

So how’s the market? If your house or the one you want to purchase is a short sale in the highest pricing strata, the market is unduly soft. If your home is a regular sale in a lower price point, it may be completely different.

When I work with sellers and buyers on “their” market, I run the numbers every which way, but tailored to the home they own or wish to own – the schools, the price point, the sale type, how many distressed homes are nearby etc. The market is not one monolithic creature, but instead is a patchwork of many micro markets.

For information on your micro-market, please contact me! Should we decide to work together in buying or selling your home, I will provide you current and pinpointed market information.

A key ingredient in understanding how the Silicon Valley real estate market is faring is the ratio of regular sales to distressed properties on the market (Bank owned or REO listings and short sale listings). Today we’ll study Los Gatos and four areas or districts of San Jose: Almaden Valley, Willow Glen, Cambrian Park, and Blossom Valley.

First, let’s look at the county numbers as a general overview.  In all of Santa Clara County, there are 3537 houses, duet homes, condominiums & townhouses for sale and available (“status 1″ for my Realtor readers) on our multiple listing service. Of those, merely 1964 are “regular sales” (56%), 1105 are short sales (31%) and 375 are bank owned homes or REOs (11%).

Now let’s drill down to a few areas: Los Gatos, Almaden Valley, Willow Glen, Cambrian Park and Blossom Valley.  We’ll check out the ratio of regular sales of houses and condos in each of these areas.  How do these compare to the county average of 56%? Have a look:

This is helpful information for both home buyers & home sellers.  Home sellers need to understand the challenges that come with selling in an area with more short sales or REOs, if they are in one of those parts of the valley.  Or vice versa: if there are few distressed properties on the market, this makes it easier to sell (with less downward pressure on pricing).  Buyers need to appreciate that they will have better luck negotiating in areas where many homes are being sold under some pressure.

A quick disclaimer - if we narrowed this study by school district and even neighborhood school, we might find that these “general numbers” are actually quite different at the hyper-local level.  For example, if you visit a post of mine about the Los Gatos real estate market on my Live in Los Gatos blog, you’d find that when we separated out the various school districts, and even price points, the ratio of distressed properties and their absorption rates change very dramatically.  To see those, scroll down until you see the blue and yellow boxes.

The condo market in San Jose and nearby areas has taken a beating throughout our downturn.  Even so, condos in Los Gatos, Almaden and Willow Glen are faring pretty decently.

Now let’s hone in on each of these five areas and the two main housing types to see the ratio in each of regular sales, short sales, and REOs.
Los Gatos short sales, bank owned homes, and regular sales are next.  Green represents regular sales.  In most areas, it seems that there are about 3 times as many short sales as REOs – but not always. (Read more on the Los Gatos real estate market here.)

It is very dramatic – there are very few distressed houses for buyers to consider in Los Gatos right now: just 5 short sales and no REOs.  (The REOs do come on the market but are gobbled up quickly.)

What about condos for sale in Los Gatos?

This is still pretty healthy compared to most areas we’re considering today, but about 1/3 of the homes for sale are short sales or bank owned homes.

San Jose’s Almaden Valley is another pretty healthy market with relatively few distressed homes. Next I’ll post the graph for houses, then condos, in Almaden.

One of the driving factors for both Almaden and Los Gatos are the great schools. (More reading: check out the Almaden school district and school boundary maps & API scores for all of the Almaden Valley schools.)

Willow Glen, also part of the city of San Jose, is charming, convenient, has great community involvement – it’s always been a highly desirable place in which to live.  Next are the two graphs for Willow Glen houses and then Willow Glen condos:

Cambrian Park, also in San Jose and adjacent to all of the other areas we’re reviewing today, has become more prized over the years, first after highway 85 made it more accessible in the early 90s, and then again recently as the Union Schools began to trend up strongly in the API scores.  (Cambrian has 3 different elementary school districts, ranging from good to great. Read about the Cambrian Park real estate market in more detail here.) Most houses are still normal sales – making it a lot easier for home sellers than is the case for condo owners hoping to sell in the same neighborhoods.

Blossom Valley, yet another San Jose district, is burdened with the most distressed properties by ratio of any of these five places.  For home sellers in the 95123 and 95136 areas, it may well feel like an uphill battle to get a property sold and closed. With condominiums and townhouses especially, this is difficult for sellers there.

Earlier in this article, I gave a “quick disclaimer” about the hyper-local marke.  In Blossom Valley, Sakamoto Elementary School has fabulous API scores.  I have not pulled these numbers out, but I believe that because the school is an enormous draw, homes in that area are probably selling far better than the average in Blossom Valley (and distressed homes are probably selling far faster).

What to do with this information?  If you are buying in a part of Santa Clara County in which there are a lot of distressed homes for sale, you may get a great bargain right now. But be prepared because as more come onto the market, it may hurt your home’s market value.  Conversely, if you wish to purchase in an area with few distressed properties on the market, you may not be able to negotiate as much as you’d like – but those areas may be more insulated from further drops in value.

Downsizing? It may be a dream time for you to move from Los Gatos, Almaden Valley or Willow Glen to other areas where the market is softer.

Moving up?  That may be a little painful, especially if you’re going from an area with more short sales and REOs to another with fewer of them!

No matter what your situation, if you’re interested in buying or selling in any of these areas or nearby, please contact me for a private, confidential consultation.  I’m happy to meet with you and learn if we can work together to help you achieve your goals.

Mid-century modern homes, including those designed by Joseph Eichler, dot the Silicon Valley & South Bay Area real estate landscape.  There are probably more than 5,000 Eichlers in Santa Clara County altogether, plus all the other homes of that genre with the similar modern style, which was influenced by the ranch and prarie styles as well as the dramatic work by Frank Lloyd Wright (open beam ceilings, nearly flat roofs, lots of exposed wood & glass windows stretching from the floor to the ceiling).  Eichlers, especially, put a premium on privacy from the street but open to the outdoors otherwise.

Not every community in Santa Clara County has Eichler homes, but most have the mid-century modern style homes & neighborhoods. These homes vary from tiny, modest cottages of 1100 square feet to large & elegant  houses of nearly 3,000 square feet, featuring big, central atriums or courtyards.  (There are also some co-ops in the valley too.)  The quality varies, as the homes were constructed by several different builders with different home buying budgets in mind.  Real estate prices range from “entry level” to very expensive, depending on the location (city and schools), size of the home & lot, and condition of the property. Most of them are now about 50 years old, though some are a little younger.

Some of the West Side Silicon Valley Communities which feature Eichler and Mid Century Modern Homes

In Los Gatos there are no Eichlers but there are a small handful of single family homes which are mid-century modern on Eastridge Drive (just off Blossom Hill Road and Hillbrook). There are a couple more at the end of Magnuson Terrace (off Magnuson Loop and Los Gatos Blvd).  Additionally, there are some smaller mid-50s homes on El Gato (and adjacent portions of Escobar) off of Los Gatos-Almaden Road. Unfortunately, not all of these homes are “well kept”, though many are.

Monte Sereno is home to 16 Eichler designed houses on Via Sereno beginning at the intersection of Winchester Blvd with Via Sereno.  These houses were built in the late 60s to early 70s.

Visit Saratoga and you’ll see 35 larger Eichler homes (on larger lots) just off Cox Avenue (“in the schools“) along De Havilland Drive. I showed one a few months ago and noticed that this street, despite enjoying the famed Saratoga Schools, is not so well kept – it could be that some neighbors were simply conserving water due to the then 10% water cutback demanded by San Jose Water due to the drought.  One home owner added on or remodeled but it was such that the architectural style of the original building was lost – a shame!  Many of these homes enjoy a creekside location.  The only real negative is that there’s freeway noise from nearby highway 85.  There are a few more Eichlers near the busy intersection of Quito & Allendale (facing Quito) along the Campbell border. 

The Willow Glen area of San Jose has an abundant supply of large & gracious Eichlers on wide roads: there appear to be hundreds of them spread out over several developments.  For the most part, these are beautiful neighborhoods with tree-lined, wide streets and a great sense of space. Most of these homes are more affordable than you’d expect and the reason is the public school scores in the area.  Had the homes been built out of the San Jose Unified School District area in into the Campbell schools area, they’d certainly sell for much, much more.  In that area is the very popular St. Christopher’s School (Catholic), which many kids in Willow Glen attend.

More affordable Eichlers can be found in central San Jose near Fruitvale and Bascom and again in parts of Sunnyvale.  In the least expensive areas, though, beware of deferred maintenance.  Last year I showed a home near Fruitvale in San Jose which was simply riddled with foundation cracks.  These are hard to repair with a slab foundation – it can mean jackhammering up the whole foundation! 

There are some mid-century moderns in the Cambrian Park area of San Jose both in the Rosswood/Bel Estos area (scattered in with some more traditional ranch style homes) and also just off Hillsdale and Foxworthy in the Hacienda Gardens neighborhood.

Cupertino and Santa Clara also have a good showing of Eichlers (Santa Clara also has “cooperatives”, which are a bit like condos or townhomes, which are Eichlers too). 

Continuing north, the supply of Eichlers in particular increases dramatically as you get to Los Altos and then even more in Mountain View and Palo Alto, where Eichler enclaves number in the thousands.  (Word of caution: some of these Mountain View homes are in the 100 year flood plain and it will require flood insurance if you purchase a home there  and utilize a loan.) Want to live on the Peninsula? You can find many mid-century modern homes there too.

Special concerns with mid century modern or Eichler homes

As with any 50 year old home, there are things to watch for in purchasing these properties! While many of the mid-century moderns are built on raised foundations, some aren’t – and Eichler’s aren’t. That wouldn’t be such a big deal except for the fact that the plumbing is embedded in the slab, and so is the radiant heating coils. If they go out, it can be a pain to replace them. (Eichler often built with copper pipes, luckily.) The radiant heating systems do sometimes fail and if/when that happens, homeowners can either add baseboard (which is fairly inexpensive and easy to do) or rip up the concrete and fix the coils.

A more common and persistent problem is with the open beam ceilings and the tar and gravel roofs over them: there’s no insulation.  Luckily, in recent years foam roofs have become a popular solution.  They not only protect the roof from the rain and other elements, but they insulate beautifully.  The downside is that if an area becomes damaged, you can’t “patch” it like you can with other roof types – instead, you really need to replace the whole roof. Yes, that’s expensive.  But clients of mine who’ve gotten the foam roof love it as their homes are more comfortable both in summer and in winter.

Many non-Eichler properties had plumming with galvanized steel pipes. Watch for that – those tend to last about 40 years, so if the home hasn’t been repiped it may be an expense waiting to happen.

A small concern with radiant heat is the type of floorcoverings that can be used over it. Often these homes are built with vinyl, linoleum or other hard surface flooring.  Carpeting can be difficult because the heated floors can be a problem.  So area rugs are usually preferred.

For further reading, please check out the Wikipedia article on Joseph Eichler and another on the Mid-Century Modern style.

What does it cost to buy an Eichler home in the San Jose, Los Gatos or Saratoga Area?

As of right now, prices range from a low of somewhere in the $500′s to well past a million dollars to purchase an Eichler style house.  These homes in Monte Sereno or Saratoga will cost much, much more than a similar home in Santa Clara or Willow Glen.  Browsing is perhaps the best way to get a feel for the pricing.

Some of the Eichler homes currently for sale or sale pending in Silicon Valley

If you’re interested in buying or selling one of these classic homes, please contact me today!

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The San Jose real estate market is cooling with lower numbers of house sales happening and inventory close to level in many areas (and growing in some).  When this happens, prices tend to soften. 

The numbers for August’s Real Estate Report are coming in (see links below) and interestingly, the average and median sales prices are up in many parts of Silicon Valley.  Does this mean home values are rising?  Perhaps. Or it could simply mean that some of the more expensive homes are starting to move.  It really depends on the area, price point, school district, and other factors.  This is true across all of Santa Clara County’s real estate market. Please see the report online for full details.

Here are some quick numbers for houses (not condos) in San Jose:

For the city of San Jose as a whole, sales in August dropped 9.8% from July , and were down 23.2% year-over-year.  The median sales price rose  2.8% from the previous month, up 17.0% compared to last year. The average price rose 4.5%, a yearly gain of 14.4%. Inventory fell 0.1% from last month, and was down 11.7% year-over-year.

August 2010 San Jose Real Estate Market

In the Cambrian Park area of San Jose, sales in August fell 26.8% from the month before, and were down 26.8% year-over-year.  Prices improved in Aug 2010 with the median price climbing 2.5% from the previous month, up 3.3% compared to last year. The average price rose 2.3%, a yearly gain of 3.6%.  Inventory fell 7.1% from last month, and was up 15.0% year-over-year. 

Almaden Valley, a pricier than average district in San Jose, saw significant market improvement with sales up 23.1% from July, and rose 3.2% year-over-year. The median sales price rose 1.4% from the previous month, up 9.7% compared to last year. The average price rose 0.7%, making for a yearly gain of 2.1%.  Inventory fell 3.5% from last month, and was up 24.6% year-over-year.  Almaden is bucking the tide of most of the rest of San Jose – the market is fairly strong there, while it’s weakening in many other parts of town.

An area with both entry level and expensive homes, Willow Glen saw a dramatic drop in the market with sales falling 37.3% from the month before, and total numbers of sales down 31.5% year-over-year. Despite that, overall, prices improved in Willow Glen with the median price climbing 15.9% from the previous month, up 12.9% compared to last year. The average price rose 14.6%, a yearly loss of 2.4%.  (In some areas I’m following closely, prices are dropping.  It may have to do with price point, school district, proximity to the Lincoln Avenue downtown area, etc.)  Inventory rose 1.3% from last month, and was down 1.3% year-over-year.

in Los Gatos, by the way, Sales fell 21.2% from the month before, and were up 4.0% year-over-year.  Prices improved in Aug 2010 with the median price climbing 5.3% from the previous month, up 22.9% compared to last year. The average price rose 5.7%, a yearly gain of 14.8%.  (We are seeing some more expensive homes selling – this does not mean that individual home values are going up at this time.)

Inventory fell 1.4% from last month, and was down 4.6% year-over-year.

What about San Jose condominiums and townhouses?  Those sales, in contrast, are pretty strong! 

For all of San Jose’s condo real estate market, inventory is down (down 2.7% from July and off 10.7% from a year ago) and sales are up.  Sales increased 10.3% from the month before, and were down 6.8% year-over-year.  Prices improved in Aug 2010 with the median price climbing 11.1% from the previous month, up 12.4% compared to last year. The average price fell 2.3%, a yearly gain of 7.8%. 

To see info on the market in San Jose and all over Santa Clara County, please visit my Real Estate Report. Or contact me to discuss the market in your area.

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San Jose is the largest city in Santa Clara County (or Silicon Valley) with about one million residents.  The districts or areas within San Jose vary tremendously in many ways, including their respective real estate markets.

Today we’ll have a comparative look at the median list prices in the housing market in three areas & zip codes of San Jose: Almaden Valley (95120), Cambrian Park (95124) and Willow Glen (95125).  First, how these three areas line up against each other and against San Jose as a whole in terms of the median list prices of homes for sale in the last year.

Please note: the charts below are “live” html and the commentary is appropriate as of today, July 30, 2010.  The charts will continue to change and be updated,though, so it’s possible that a year from now the commentary may seem disjointed.  Now you’ll know why!

First, a glance at Almaden, Willow Glen, Cambrian and San Jose genererally.  Overall, it looks like the higher priced homes are having the most trouble.  A closer look, though, shows that although Almaden is pricier than Willow Glen, Willow Glen’s median list price has gone down far more than Almaden’s.  My guess is that the school districts are having a large influence here – the schools in Almaden range from good to great, whereas in Willow Glen most of the zip code has only average schools.

San Jose as a whole, by price quartile is next.

The lowest priced homes have been inching up over the year. The second price point from the bottom seems to be about even with a year ago, the second from the top is down and the most expensive homes are down by about 5%.

Next, let’s focus on the Almaden Valley area of town by price quartile also:

What a change from San Jose as a whole – all of these price points are down from a year ago. (Buyers, take note: it’s easier to buy a home when you see these conditions.)  The price points are high, so Almaden is behaving like other more expensive areas of San Jose.  Next, Cambrian Park…

What about Cambrian Park, 95124, which is more affordable than Almaden?

Like San Jose as a whole, the entry level prices (lowest price point) are rising.  The middle ranges dipped but are back where they were a year ago. The most expensive homes, though, have dropped the most – it looks like about 15% – wow! What is surprising is that the upper quartile of 95124 started at about the same place as the upper quartile of San Jose as a whole - both right at about $1,000,000. Why is 95124 faring so much worse? It would seem to be a great time to buy in that price point there!

Willow Glen is usually priced right between Cambrian and Almaden. Looks like it’s behaving more like a luxury market than a middle class neighborhood as all four price points show lower median list prices now than a year ago. The drops are not as harsh in the upper quartile as they were in Almaden, though.  This indicates that it’s tough on sellers (and good for buyers) in Willow Glen today.

If we look at just the top quartile of all these areas, we can compare the high end pricing of them against each other.

Willow Glen (95125) has been sliding since the beginning of the year.  Almaden dipped but is rising again, as are Cambrian and the rest of San Jose. All four areas are lower than they were a year ago, with Willow Glen taking the greatest hit right now.

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.

The sales numbers for Silicon Valley real estate in June 2010 are now out and crunched. How’s the market?  Still extremely competitive in the entry level price points – it is a seller’s market overall in Santa Clara County.  The average list price to sales price ratio continues to be at over 100% (and this is the 12th month in a row for that statistic, so it is more than a fleeting trend!).

Here are the numbers at a glance for houses in Santa Clara County:

And here are the figures for condominiums and townhouses in SCC:

Some areas and price points are “stronger” than others as seller’s markets go. Houses in the Alum Rock area have gotten very beat down in pricing during the market collapse and consequently are very “hot” right now with a sales price averaging 103% of list price. Almaden Valley is cooler, with an average sales price of 98.8% of list price. Cambrian Park is at 100.3%, Willow Glen is 98.3%, the city of Campbell is at 98.5%.

The condo market had a worse time during the price drops because home buyers could purchase a house rather than a condominium or townhouse.  Now, though, prices have adjusted and the condo & townhome markets are generally hot.  The exception is the luxury market for these types of homes, which remain a little sluggish.  Among condos in Palo Alto, the ratio between list and sales price is 98.4%, in Saratoga it’s 98.7%, in Los Gatos it is 97.3%.

To learn more, please visit my Real Estate Report and read the online report here:

http://rereport.com/scc/print/Mary.PopeHandySCC.pdf

Willow Glen is one of the most charming areas of San Jose, consisting of many older homes which feature lovely, classic architecture.  Most Silicon Valley home buyers treasure the Willow Glen charm and ambiance, but many are seeking newer homes.  A fabulous option is “The Willows“.

KB Homes built “The Willows” in 1999 to 2000.  It is tucked away at the southernmost tip of Willow Glen, off of Foxworthy Avenue & close to Almaden Expressway, but only about 2.5 to 3 miles from all the action on Lincoln Avenue.

The tree-lined streets are built in something of a loop shape with Rubino Circle being the main access or loop road.  Situated on the inner part of the loop are homes with smaller lots that are a little more affordable.  The outer part of the circle is built with slightly larger homes on larger lots (but none of the lots are “big”). Sidewalks with soft curbs at the corners accompany the streets and make for a pedestrian-friendly, bike, wheelchair or stroller friendly area. Visit in the early evenings and you will see children and adults walking, strolling, taking dogs for a walk etc. – always a good sign! Because the neighborhood is a bit like an oversized cul-de-sac (no through traffic), it is very quiet in terms of traffic.  The area has large street lights, too, making for a safe feeling community.

Something not often found in other neighborhoods that’s a real plus here: the front yard landscaping is taken care of by the home owner’s association.  Living at the Willows is “easy care” since only the house itself and the back yard require maintenance!

Rubino Park is a frequent destination for residents at The Willows. It offers a playground, picnic areas, basketball hoops and a huge expanse of lawn.  Additionally, Canoas Garden Elementary School has access on Rubino Circle too, and it also has a large lawn area that the neighbors enjoy.

What are homes like in The Willows?

Houses here are all 2 story and all have attached 2 car garages. Homes range in size from about 1800 SF to about 2600 SF, generally, and are anywhere from 3 to 5 bedrooms.  One floorplan is either offered as a 4 bedroom or a 3 bedroom plus “loft”, which can be an office, den, TV area, exercize room or anything else (and can easily become a fourth bedroom).

Many of the homeowners at The Willows have enhanced and upgraded their homes and yards. When first built, most of these houses had white tile countertops, but a good many owners have added either Corian or granite countertops.  Kitchen appliances only last 10-15 years in most cases, so many have already been replaced, sometimes very nicely improved with large gas burner stoves, for instance.

What does it cost to live in The Willows?

Most of the homes for sale in the Willows are priced somewhere in the 600s to 700s depending upon a number of things, such as

• home size
• lot size
• upgrades, enhancements, improvements and remodeling
• exact location (regular street vs private court + other location issues)
• type of sale (short sale or bank owned will sell for less)

The homes in the inner part of the loop tend to be on lots of about 2,000 SF rather than between 3,000 and 4,000 SF.  Because they are on smaller, private drives, there’s not the same kind of parking as you get on a regular San Jose street.  For those reasons, the homes tend to sell for a little less.

Map of The Willows

View The Willows of Willow Glen (San Jose) in a larger map

I have just listed a wonderful home in The Willows at 870 Brevins Loop. To learn all about it, see a virtual tour, lots of photos and to check on the open house schedule, please visit the following page.

http://www.popehandy.com/870-brevins-loop-willow-glen-san-jose.html

Hope to see you there at the open house!

Next week I’ll be putting a Willow Glen house on the market so have been paying attention to the trends & statistics for this charming part of San Jose.  Here’s a look at the absorption rate for Willow Glen houses and duet homes (numbers run yesterday) by price band.

Willow Glen Months of Inventory June 17 2010

My Real Estate Report provides numbers (which I don’t have to crunch!) on a monthly basis for all of Santa Clara County, including the Willow Glen (area 10, mostly 95125) part of San Jose.  It’s a good, broad view of the Willow Glen market overall.  Here’s the summary for the  May 2010 Real Estate Report for Willow Glen – June’s info will be out sometime in early July. Click on the link to get all the data rather than just this quick view.

The Willow Glen real estate market trends are up month over month for the median & average sales prices, but the average sales price is still down year over year.  Pendings are down compared to April (possibly a reaction to the federal home buyer tax credit?) and year over year.  The list price to sales price ratio is up, though, and the days on market are shorter.

Looking at both sets of numbers, mine and the REReport’s, it is clear that the homes priced up to about $900,000 are the ones leading the recovery, and that the most expensive homes are not selling well at all.  When we began to see improvement in the market, it was first entry level houses that were selling well.  Eventually it spread to the move-up market, both here and throughout Silicon Valley.  Will it continue?  The very high end homes in Santa Clara County are selling much better than they were a year ago, but as you can see, there’s still loads of room for improvement for the luxury homes market.

The condominium & townhouse market is improving dramatically now.  It is evident both in looking at the stats countywide and in my recent experiences holding open my townhouse listings in Saratoga and Sunnyvale as well as recently participating in the sale of a townhome in Almaden Valley (representing a buyer) – all different areas and price points but all very active.

Here are the numbers for May sales of condos and townhomes for all of Santa Clara  County:

As you can see, the days on market are shrinking and prices (both median and average) are rising.  A few numbers cut back slightly in May: the sale to list price ratio retreated a little to 99.9% and the pending properties went down a little too.  But the number of sales were up.

The “months of inventory” or absorption rate is a great way to know how much of a buyer’s or seller’s market it is in any given place. Six months is considered balanced, less is a seller’s market and more is a buyer’s market.  Here are the months of inventory for selected communities in the “west valley” area of Silicon Valley – they are all “seller’s markets”, but some are strong and some are approaching balanced:

Of course, this is still painting with a broad brush.  The absorption rate for any of these areas may not be accurate for the various price points or school districts that might be found there.  For instance, a large luxury townhouse in Los Gatos which is downtown might be a really different type of market than a small, entry level one bordering Campbell or Cambrian Park.

What everyone’s wondering is if this seller’s market for condominiums and townhouses will continue despite the end of the federal home buyer credit.  To utilize that credit, homes had to be in contract by April 30th.  Most of those should be closed now, or nearing that date at best.  So we’ll really know more as we move into summer. My sense, though, is that what’s driving this market is much more the affordable prices of homes and of loans. The credits are a bonus, but many in Silicon Valley make too much money to be able to use them.

For information on your particular part of the Silicon Valley condo or townhome market, please give me a call or email me!