SANTA CLARA COUNTY 2012 REAL ESTATE MARKET OUTLOOK
 
 
       “What is happening in the local real estate market?” is the most important concern to buyers and sellers when considering a real estate transaction. By examining the market’s facts, buyers and sellers can make an informed decision. As a real estate broker, I have tracked the local real estate market for the last 4 years; below is a graph of the year-over-year changes in the Silicon Valley housing market:
 
       The graph examines the supply side of the Santa Clara County real estate market with a snapshot of the active listings available in the Multiple Listing Service (MLS). The decline in available homes for sale reached an alarming level this year. With this reduction, many home buyers are hoping for the appearance of distressed properties (Bank-Owned & Short Sale) to lower the costs of purchasing their next home. Now, more than ever, buyers need a solid strategy to compete for their dream home.
 
 
 
       The above chart illustrates the decline of inventory across all three markets. The supply of homes, both regular and distressed, has reached levels much lower than at any other point in the last five years. The current data suggests that the worst of the foreclosure crisis may be in our rear view mirror. The rumor that banks are hoarding a substantial inventory of distressed property remains unsubstantiated. 
  
      On the other hand, the demand for housing in Santa Clara County has not changed significantly during the last three years.
 
 

       

       With available inventory estimated to be around 2000 active listings, this is less than a two-month supply of homes. The concentration of distressed properties in a particular area affects the home prices accordingly. What happens next will depend on where you want to buy or sell. Thus, whether you plan to list your property for sale or buy into an area, it is crucial to understand your surrounding area.  

      Santa Clara County is vast in terms of area with varied sizes of homes. From Palo Alto to Gilroy and Los Gatos Mountains to the East Foothills – there are no shortages of different regions available to buyers.     

      The MLS divides the County into 19 different areas. The real estate market in each area is driven by different factors within its own eco-system. Real estate agents have a professional duty to understand this as well as the factors prevelant in their own select areas. Unfortunately, many agents choose to work for big name franchise offices to rely upon the big engine of the company to cover the lack of skill and preparation. I used to be a broker/owner of a large franchise office but I quickly realized that the name alone cannot serve as a measure of quality when it comes to helping buyers or sellers.

     Adding to the overall confusion for homeowners and buyers, the depiction of real estate in national news continues to be inaccurate or, at a minimum, misleading. The most important thing in real estate is simple: location, location, and location. As your realtor, I analyze your location in order to help you with the sale of your home and diligently work to help you sucessfully purchase your next home. The facts and factors affecting each market should be shared, discussed, and analyzed to help you make an informed and complete decision. An informed buyer or seller can only help provide more reliability and stability to the real estate market and its impending recovery.

For Sellers: Together, we will examine the sale trends in your area and come up with the most suitable strategy to sell your home. I will show you the past and present inventory trends in your area, broken down by Bank Owned, Short Sale and regular sale. Learn how I will deliver the highest offer price for your home. Your house may be worth 10-15% more than you think. Learn the way I deal with appraisal and other issues to protect your interest. I commit to put your concern above everyone and find a solution to meet your needs. Please call me for a private consultation now. I can be reached at (408) 348-7988.

 

For Buyers: With a vast knowledge of bank owned, short sale and regular sale properties, I am extremely confident that my strategy will save you time, money and reduce your frustrations. I will share appropriate and complete information and data with you for your desired locality and help you learn as much as you can about the area you are buying into. Our high level of customer service will not only impress you – it will help you feel more comfortable throughout the process. To learn my strategy of how you can buy this year, simply call Jason Lee at (408) 348-7988.
 
** Jason speaks Mandarin, Cantonese, and Vietnamese fluently.
 
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