2011 Real Estate Market Picking up Earlier than Normal
Typically December and January are slow months for sales in Santa Clara county and the neighborhoods within it. But sales and listings have already shown an increase more typical of late February, see Maroon line.
December sales across Santa Clara county were higher than they have been for over 3 years, increasing from November rather than the typical decrease.
So what does this mean for you?
For SELLERS, even more exciting is that inventory is still low, close to the lowest it has been in recent times. So thinking about selling this year? The sooner the better to get your home on the market, so contact Theresa today.
For BUYERS, time to get out there and see the great homes coming on the market. If you wait, interest rates could go up and significantly affect your purchase power. Did you know that a 1% increase in interest rate can take 10-12% off your approved purchase price?? And from June 2010 til now, there has been at least 0.75% increase in interest rates. Really there has been a 1% increase if you got lucky and caught the 3.875% 30 year fixed that was available for a very short time this past summer. So again do not wait! Get approved now and get out there shopping!
In Almaden valley, there have been 8 new listings in the past week and 6 new sales in that same time. There are a total of 66 active listings, but only 29 of those are $1million or under!! In the under $1million category there’s also currently 28 pending! What a great opportunity to buy or sell in this spring-like market. Beat most of the buyers and sellers to the market and take advantage of under 5% interest rates before they are gone!!
I watch the market and stay informed so you can get the best value possible in the current market. So please contact me so you can benefit from my experience and knowledge!
