Silicon Valley Real Estate

Do you want or need to sell your Silicon Valley home this year? If so, you ought to take the staging of your home very seriously. Often homeowners hire a Realtor (or other real estate licensee), ask for their advice on preparing the house and yard for sale, and then proceed to disregard all or most of the guidance given.

Why do would sellers hire an agent and then not take the professional advice offered?  Especially in THIS market? The result is frustrating for both the homeowner (who will not realize the best possible price) and for the agent (who cannot control the condition, but who is hampered in selling the home because of it).

To be candid, the odds are that you will not be able to sell your home in San Jose, Los Gatos, or Saratoga this year. Countywide, most homes are NOT selling. Actually, let's look at the numbers for just a moment - you will see that it's fairly sobering.

In the Cambrian Park area of San Jose (zip codes 95124, 95118 and a little of 95008), there are 241 single family homes and condos or townhomes for sale (the "active listings"). In that same district, just 109 are pending sales. This refects about a 45% chance of selling.

In Almaden Valley, an upscale collection of neighborhoods comprising the 95120 zip code area of San Jose, it's much worse. There are 121 houses and townhouses or condominiums for sale, and a mere 34 which are under contract to sell. The odds here are 28% that you'll sell.

For Los Gatos (95032 and 95030), it's 203 available vs 50 pending. Down to 24% opportunity to sell.

Saratoga (95070) has 152 active listings and just 33 pendings, or a 21.7% sales success.

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San Jose's upscale suburb, Almaden Valley, features gorgeous hillside views, great schools, low crime, and consistently nice neighborhoods.  Home prices range from a little higher than average to very expensive.  How is the real estate market faring in posh Almaden Valley?

Here's a snapshot view of list prices over the last year in Almaden of both single family houses and condos or townhomes.

It is curious to note that condo prices seemed to have an uptick while single family homes had a downtick around March first of this year. Condo and townhouse prices in Almaden appear to be slipping overall since then, while home prices have risen generally, though slipped again a little since July 1st.

Next let's have a look at asking prices for single family homes, or houses (as opposed to condominiums or townhomes).  Below, find the data broken down by quartiles.

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Saratoga, California, is a delightful part of Silicon Valley that boasts low crime, high scores in schools, and strong property values. Today we'll have a look at the list prices of homes to see what's happening with the various real estate markets there.  How are things faring amid the mortgage meltdown which is impacting most of Silicon Valley?

Here's a graph of the combined single family home and condominum/townhouse pricing for Saratoga CA real estate - it will give you an overview of the many price points and types of homes combined.

At first glance, it looks like condos and townhomes in Saratoga are falling in value while single family homes are rising in value. Is that the case?

Of course, "the market" in Saratoga or anywhere else in Silicon Valley is dependent upon many things, such as exact location, views, school districts, price point - to name a few. It may or may not be as simple as this graph implies. So let's take a closer look.

The following image shows pricing of active listings in Saratoga real estate among single family homes, broken down by quartiles. As you will note, the highest priced homes have shown the most volatility in this market. March and April seem to have been a low point for pricing.

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The Los Gatos real estate market seems to be improving as more homes are selling now than in recent months. The "absorption rate" has been declining and is now well under the 6 months that differentiates a buyers vs a sellers market. Many are thinking that the worst is behind us.

And if that is the case, now really is the "best time to buy" in Los Gatos, San Jose, Saratoga, or anywhere in Silicon Valley.

Recently I listed a great, sunny home and it will be held open this weekend (Sat 2-4, Aug 9). If you are looking to buy a house in Los Gatos, with the schools and close to shops, stores, banks and restaurants, you will want to know about this home and see it ASAP!

120 Magneson Terrace (off Magneson Loop and Los Gatos Blvd), Los Gatos, CA 95032

Offered at $1,250,000 - New Roof  as of late June!!

• 3 Bedrooms
• 2.5 Bathrooms
• Living Room, Dining Room, Study (or Music Room or Library)
• Lovely Hardwood Floors Throughout (all but bathrooms)
• Appx 1800 SF
• Lot Size appx 8700 SF
• Los Gatos Schools very close by
• Home situated on a quiet cul-de-sac
• Air Conditioning & Extra Insulation
• Laundry Room
• Attached 2 Car Garage
• So close to the schools and shops that it's "walk to", "bike to", "scooter to" and for driving, "less than 2 minutes to" - no matter how you get around, this home is close to schools and shops!

Virtual Tour of 120 Magneson Terrace, Los Gatos, CA 95032

A quick introduction to downtown San Jose via YouTube. Downtown San Jose is Sharks Territory (NHL team), home to a diverse number of theaters and museums (including a quilting museum) and a huge variety of shops and restaurants. When the Sharks arent playing at the Arena, the Shark Tank becomes a musical venue too.

In summer, fireworks and many events draw large crowds downtown.

In winter, downtown offers Christmas in the Park and a palm tree encircled ice rink as wonderful ways to enjoy the sunny, cool days downtown. The Catholic Cathedral features free musical concerts for all from many groups around Silicon Valley, with each concert performed twice in many of the evenings leading up to Christmas.

Theres loads to do in downtown San Jose!

 

Cambrian Park is one of the more affordable, high-value areas in Silicon Valley. The schools are good, the crime is low, and the commute is not too bad. Whats the compromise? Well, Cambrian doesnt have an interesting little downtown like Campbell, Los Gatos, Saratoga, or Willow Glen.

To put it bluntly, Cambrian Park is a little boring. Its suburbia.

But thats the only bad thing you can say of this nice community which spans the 95124 and 95118 zip codes!

As with other nearby areas, the school boundaries dont follow the Cambrian boundaries. That would be too easy!

If there is a 'central Cambrian Park, it would have to be near the original Cambrian Park Shopping Center, which was the first actual 'mall in San Jose!

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The city of Campbell was founded by Benjamin Campbell. His first land purchase there occurred in 1851, and he planted it with grain and hay. This was a busy place during the orchard and fruit canning eras of the valley; it boasted three canneries in what is now the city of Campbell. Situated perfectly along the railroad line to Los Gatos, Campbell became a shipping center for the prized produce of The Valley of Hearts Delight.  

Interestingly, while the citys origins go back to the orchard era, Campbell was not incorporated as a city until 1952.  As with many other incorporations in Santa Clara County at that time, it was largely as a defensive maneuver against being swallowed up by the fast growing city of San Jose.

Today Campbell has a small town feel while offering a quaint downtown area, good schools, and reasonably priced (for our valley, anyway) homes. Crime is low and theres great community spirit. Downtown Campbell is a destination for many with some excellent restaurants, shops, art galleries and museums. Campbell is also home to several excellent parks and movie theaters and recently became tied in to the light rail system too.

For more information about Campbell, visit the citys official website at http://www.ci.campbell.ca.us.