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Sam Shueh Realtor Blog

By Sam Shueh | Agent in San Jose, CA

Where are the homes for sale in SF South Bay?

Re: Looking for Inventory...

05-16-2012 07:29 AM

In SF Southbay area including Santa Cruz and No Monterey Counties the story is the same.  However, when one looks at

neighborhood statistics the asked and sold vs past sale data paints a HOT vs STEADY trends. This is as of end of April 2012.

 

MV, SU-HOT, little inventory, 3rd surge of price appreciation. Rate not yet determined.

West SJ -HOT, appreciation rate is school dependent. Best schools do not show higher appreciation.

Central San Jose-HOT, almost no inventory on low end, price appreciation is ~10% vs Q4 2011.

South San Jose-STEADY, little inventory price appreciation is moderate ~5% vs Q4 2011.

No San Jose-STEADY, little inventory, more flippers frm sales frm the lenders ~2% vs Q4 2011. This includes Milpitas as well,

 

Sam Shueh

Keller Williams Realty

 

Comments

By Voices Member,  Sun Jun 24 2012, 11:02
Best schools do not show higher appreciation` REALLY not sure if this statement is entirely true. You should check before you post this. Schools with higher API scores will hold the best value compared to a same style home in a 800-875 api scores. I would not feel comfortable stating something like this to a buyer or seller at all. I work with a lot of buyers and the first thing they ask if they have children attending schools what are the API scores, if baby boomers, or investors they ask the same question for resale value. I would NEVER advise my clients that Best schools do not show higher appreciation unless I wanted to end up in court.

Denise A. Szyszlo Realtor
DRE 01441160
Office:: (408) 369-2000 x319
Mobile: (408) 768-7097
Fax: (888) 334-0888
By Sam Shueh,  Sun Jun 24 2012, 13:31
It is correct during a downturn like a recession, the higher valued homes may hold value up initially. It will tank last as experienced. Right now we are going through a recovery phase. It is the low priced homes (typ. not top schools) that show higher appreciation. No one has predicted 25-30% annual consistent growth in top school areas since 2001 simply the home price is already over valued. (exception PA). In South Bay several neighborhood so far during 2012 has shown 10-15% appreciation. During the last peak 2001-2007 Saratoga, LG, CU etc have 8-10% annulized appreciation while Evergreen(95138), MH enjoyed 15-17%. Likewise, purchase a $1.5 mil home in top school district today one will not expect to sell $3 mil anytime soon. A $200K sfh that one bought last year buyers are selling. People go into top schools are investing in their childrens future. Baby boomers are buying an insurance to ascertain their value holds.

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