I’ve heard that sale has increased 103% in Palo Alto. Yet I still felt surprided when I went to Alain Pinel’s office to present offer. It was crowed. After waited for almost 45 minutes, I presented offer. Sellers and listing agents were really nice, I could feel they had much better offer…At evening, I received call from listng agent, seller countered five offer that were all much higher than mine. In fact, asking price is $799K 2 bed rooms and 1 bath room small house. Countered over $900K without contingencies…
On the last day of December 2009 there were 2663 homes on the market
On the last day of November 2009 there were 3016 homes on the market
On the last day of October 2009 there were 3239 homes on the market
On the last day of September 2009 there were 3470 homes on the market
On the last day of August 2009 there were 3600 homes on the market
On the last day of July 2009 there were 3935 homes on the market
On the last day of June 2009 there were 4145 homes on the market
In December 2009 there were 942 homes sold.
In November 2009 there were 901 homes sold.
In October 2009 there were 1029 homes sold.
In September 2009 there were 1068 homes sold.
In August 2009 there were 984 homes sold.
In July 2009 there were 1238 homes sold
In June2009 there were 1191 homes sold.
My Sales record:
Dec: Closed 1.
Nov: Closed 3
Oct.Closed 3
Sep: Closed 1
August: Closed 2.
July: Closed 2.
June: Closed 3
In 2010
Jan 3 escrows are scheduled to be closed.
Feb 2 are escrows, and one is scheduled to be closed.
Since Jan 1st, 15 offers have been sent, some will have respond in shortly.
Wall Street Journal- Fed is closed to finish low inerest to prevent future bubble. After a warmer summer housing market, it seems be the time to change the policy.
After a real warm summer, housing market in SF bay area is still hot. There are no many listings on the market. Supplies are shorter. While the interest rate is still low, and $8,000 tax credit will be available till to April, many first time buyer and investors are still acting on the market.
The job on the last day of 2009: 1. Preparing to close North Valley Doxey Dr. 2. Removed all contingencines Vine St Belmont.3. FInallized deal Acapulco Campbell. 4. Moving to close Burley Milpitas. 5 Sent out 3 offers in Pleasaton, Fremont, North Valley. 6. Showing home. 8. Make new years showing schedule.. Wow Wanna hae a great new year!
There is website for tracking Bank of America’s short sale transaction at www.equator.com .
Listing agent can check the statu of transaction on line. It is a helpful tool.
After dec 15th, lender will request all borrower’s DTI are lower than 45%, and higher credit scores. Eventhough many major banks are requirung 45% DTI today, but many smaller mortgage lenders are still accepting the DTI as high as up to 60% in current days. Yet it will change in shortly. In which means some borrowers need put much more down to get loan. It will keep some buyers out of market.
The listing agent just resposed me that they did have over 25 offers, and a cash offer is over at least 5% of asking price. At few weeks earlier, another short sale in this area had over 35 offers. My client added almost 10% up from asking price, but we even had no chance to counter. At the same time, national date shows the housing market had a big sale in last month. In Santa Clara County, there are still many buyers. Yet there are not many listings. My clinet avalage needs send over 15 offers to buy one.
Per San Jose Mercury News that only less than 2100 houses were sold in October in Santa Clara county. The sale value was increased 6.3% compared with last year October. I felt very prod of my job. I have closed 3 escrows in October. I’ve seen my hard efforts to have some return.
2022 Sagewood LN San Jose AC 95132. A short Sale that has put on the market for few days only. Listhing agent informed me that there are 35 offers. My client’s offer was out even though we put over 10% up from asking price. There are still so many buyers on the market.Yet there is only few listings.
