SEPT. 2019 SANTA CLARA COUNTY STATS

By: Jeni Pfeiffer, Associate Broker, Realtor®

The Silicon Valley Real Estate Market currently has 2,076 ACTIVE Single Family, Townhomes and Condos listings for Sale in the Santa Clara County. SEPT 2019 recorded 1,022 SOLD listings ranging from $7,500,000 (25055 La Loma Drive, Los Altos Hills 94022) to $370,000 (2454 Balme Drive, San Jose 95122), with 35 Average DOM.

Sept SOLD Volume was 18% lower than July’s recordings. The Average Close Price was $1,340,213 with 33% of the Sales selling between $700,000 – $1,000,000. The number of Listings which did not complete a Sale and changed Status to Withdrawn, Expired or Canceled was 408.

Downtown San Jose, CA SOFA District. Photo Courtesy Jeni Pfeiffer
Downtown San Jose, CA SOFA District. Photo Courtesy Jeni Pfeiffer

Do I need a Home Inspection?

Very few home inspections ever come back completely clear. Here are the most common problems uncovered in home inspections.

Important items to evaluate on a Home Inspection. Jeni Pfeiffer/Associate Broker/Realtor
Important items to evaluate on a Home Inspection. Jeni Pfeiffer/Associate Broker/Realtor

Never skip your Home Inspection . . a great Realtor, looking out for your best interests, will ensure that you are provided with the best resources to best evaluate any potential problems both now and in the future. Be certain that you have an agent working exclusively for you and on your behalf. Contact me today.

July 2019 SANTA CLARA COUNTY STATS

By: Jeni Pfeiffer, Associate Broker, Realtor®

The Bay Area Real Estate currently has 2,126 ACTIVE Status units (available for sale) in the Santa Clara County. July 2019 recorded 1,238 Single Family, Condo and Town Home SALES ranging from $11,080,000 (543 Seale Avenue, Palo Alto 94301) to $330,000 (247 N Capitol Avenue,#227, San Jose 95127) with 26 Average DOM. The average price was $1,385,492 with 50% of the Sales selling between $700,000 – $1,300,000. Properties priced 10 – 15% below the height of 2018 prices are now selling. Over-priced properties are lingering on the market. Low mortgage interest rates, currently in the 3% range, are favoring Buyers.

1031 Tax Deferred Exchange?

By: Jeni Pfeiffer, Associate Broker, Realtor®

Do you have a rental property and wish to sell it without paying hefty capital gains tax? Are you considering purchasing property that would generate a higher net income? A 1031 Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors. Why? As Bay Area real estate values have increased, many investors think that today is the optimal time to exchange properties for stronger cash flowing properties across the country. By: Jeni Pfeiffer, Associate Broker, Realtor®Do you have a rental property and wish to sell it without paying hefty capital gains tax? Are you considering purchasing property that would generate a higher net income? A 1031 Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors. Why? As Bay Area real estate values have increased, many investors think that today is the optimal time to exchange properties for stronger cash flowing properties across the country.

By: Jeni Pfeiffer, Associate Broker, Realtor®Do you have a rental property and wish to sell it without paying hefty capital gains tax? Are you considering purchasing property that would generate a higher net income? A 1031 Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors. Why? As Bay Area real estate values have increased, many investors think that today is the optimal time to exchange properties for stronger cash flowing properties across the country. By: Jeni Pfeiffer, Associate Broker, Realtor®Do you have a rental property and wish to sell it without paying hefty capital gains tax? Are you considering purchasing property that would generate a higher net income? A 1031 Exchange is a powerful tax-deferment strategy used by some of the most financially successful investors. Why? As Bay Area real estate values have increased, many investors think that today is the optimal time to exchange properties for stronger cash flowing properties across the country.

A 1031 Exchange allows an investor to “defer” paying capital gains taxes on an investment property when it is sold, as long another “like-kind property” is purchased with the profit gained by the sale of the first property. There are rules and timelines to follow, and working with an agent who is experienced and can connect you with resources outside of the Bay Area will provide successful investments. Contact me to learn how you can defer capital gains on the sale of an income property. 

Santa Clara County Real Estate_Photo Courtesy Jeni Pfeiffer

June 2019 SANTA CLARA COUNTY STATS

By: Jeni Pfeiffer, Associate Broker, Realtor®

The Bay Area Real Estate remains strong, with currently 2,212 units ACTIVE Status (available for sale) in the Santa Clara County. June 2019 recorded 1,366 Single Family, Condo and Town Home Sales ranging from $13,000,000 (232 Coleridge Avenue, Palo Alto 94301) to $340,000 (247 N Capitol Ave,#106, San Jose 95127) with 26 Average Days on Market DOM. 28% of the Sales were between $700,000 – $1,000,000. Properties priced according to the market, and in sought after areas, are still selling for over-asking price.By: Jeni Pfeiffer, Associate Broker, Realtor®The Bay Area Real Estate remains strong, with currently 2,212 units ACTIVE Status (available for sale) in the Santa Clara County. June 2019 recorded 1,366 Single Family, Condo and Town Home Sales ranging from $13,000,000 (232 Coleridge Avenue, Palo Alto 94301) to $340,000 (247 N Capitol Ave,#106, San Jose 95127) with 26 Average Days on Market DOM. 28% of the Sales were between $700,000 – $1,000,000. Properties priced according to the market, and in sought after areas, are still selling for over-asking price.

Staged Homes Sell Quicker

Home staging is key to attracting home shoppers, an maybe even more so in an era where consumers are used to watching TV home-makeover shows. 83% of buyers’ agents say staging a home makes it easier for buyers to visualize a property as their future home. 44% of buyers’ agents say staging a home increases its value.

Cleaner appearance, Buyers envision themselves if staged homes are done well.

Realtor.com reports SAN JOSE Ranks #1 where Home Prices have fallen most

Realtor.com reports that SAN JOSE, CA ranks #1 where Home Prices have fallen the most, in their findings, dated May 20, 2019. Most recently, the real estate market has experenced a shortage of available homes for sale to balance the demand of Buyer’s needs. Combined with super low interest rates, the results were that the Bay Area housing sales prices escalated at record-breaking speed from years 2011-2018. This year has delivered a “cooling-off” phase, in some areas, such as San Jose, CA as prices have softened and inventory has increased.

Houses priced right are still selling quickly, and some “over-asking.” The market is relatively balanced, and favorable for both Buyers and Sellers. The mortgage interest rates are low and there are more homes to choose from.

Curious how other cities were rated? Read the Realtor.com report HERE: https://www.realtor.com/news/trends/2019-where-home-prices-falling-the-most/ “Falling Stars: You Won’t Believe the 10 Cities Where Home Prices Are Down the Most” for more information.

Jeni Pfeiffer, Broker Associate Realtor

408-813-4256

1383 Heather Ridge San Jose PHOTO Courtesy Jeni Pfeiffer

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Open Living Room_Beautiful Plank Flooring_Photo Courtesy Jeni Pfeiffer

Open Living Room_Beautiful Plank Flooring_Photo Courtesy Jeni Pfeiffer

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