Home > Blogs > Sam Shueh Realtor Blog
9,583 views

Sam Shueh Realtor Blog

By Sam Shueh | Agent in San Jose, CA
  • Market is more traditional, sellers now are learning....

    Posted Under: General Area in Santa Clara County, Home Buying in Santa Clara County, Home Selling in Santa Clara County  |  July 10, 2014 9:35 AM  |  101 views  |  No comments

    As a whole most sellers try to time the market and then raise the asking price.  This resulted in 1. offers are higher than appraised value resulting in buyer backing out. 2. Sellers have very few offers and have to reduce the price to make a sale.

     

    Using Cupertino schools neighborhood as bench mark, it was 5% homes that had to to reduce the asking price to get into a contract. Now, with more inventory the sellers are disappointed they only get a few offers. Why so low.

     

    San Jose City before the summer it was 15% homes had a price reduction, many neighborhoods home stay on the market. Today it is22.3% (1+ out 5 homes/condo/town homes).

     

    15 mins away from South SJ, Morgan Hill, for example, it was 22% now 38% homes need price adjustment.

    another 12 mins (27 min) in Gilroy. The number of active listings with a price reduced is 45%. This area had the highest appreciation rate in the South Bay.

     

    The sellers still think they control the market and thus the price.  I am aware of several very exclusive neighborhoods in west Santa Clara County where the sellers boasted they will get many offers on the 1st weekend, even tried to raise the asked price to expect higher offers found they have "0" offer.  

    Sam Shueh
    Keller Wms Cupertino Realty
    (408) 4250-1601
    http://x299322.yourkwagent.com/

  • Paying to much money for API sake in SF Bay Area-Silicon Valley

    Posted Under: General Area in Cupertino, Home Buying in Cupertino, Property Q&A in Cupertino  |  June 18, 2014 9:55 AM  |  196 views  |  3 comments
    Most parents care about their children's future and wish to move into top school neighborhoods.
    That comes with a steep price in the San Francisco Bay area.

    PA (Palo Alto) is one of the most expensive town based on  ($/sf). If you judge on the basis of API alone there are several neighborboods in East Bay like Pleasanton, Walnut Grove, and Fremont Mission SJ all have even higher test scores and places are even safer. The cost is may be a fraction of PA.

     

    To much emphasis on academic achivement invokes group cheating to improve results which is all what parents want to hear.  Overcrowded school  students have a tough time to develop or ask questions.

     

    Parents income matters, but getting parents involved really make a difference:

    EPA where residents high school drop out rate is >60%, only 10% of parents graduate from college

     

    With parents help not sure they all are the 10% of college grads most likely no:

    Aspire EPA charter after just 6 years the API is 826.

    Aspire EPA Phoneix High                           API is 819

     

    Oakland Chinatown where the immigrants from rural China is dominant for bilingual inner city school.

    Lincoln Elmentary                                       API is 957

     

    Charter will eventually be dominant system.  I know the educators do not like the threat of job security and tenure loss.   Better schools can cause shock to new comers.  There is a balance in life.  

     I often advise those not able to afford overpriced homes to consider a compromise.  Parenting is
    the predominant factor bringing up children, schools come second.  Studies showed by the time the children is in 8th grade the children study habits and learning potential is already set. 

    Sam Shueh
    Sr Realtor

    Keller Wms Cupertino Realty

  • Asian Buyers in the US

    Posted Under: General Area in Cupertino, Home Buying in Cupertino, Property Q&A in Cupertino  |  June 14, 2014 8:21 AM  |  154 views  |  No comments
    I always thought they buy in California more. But this is only a part porfolio.

    1. NYC
    2. LA
    3. Detroit
    4 Houston
     etc
     

    Enjoy,
    http://money.cnn.com/2013/07/08/real_estate/chinese-homebuyers/index.html?iid=EL


    Sam Shueh
    Keller Williams Cupertino Realty
  • Home Prices are outrageous, buyers felt

    Posted Under: General Area in San Jose, Home Buying in San Jose, Property Q&A in San Jose  |  June 13, 2014 12:28 PM  |  185 views  |  6 comments

    "I believe we are probably hitting affordability limits," said Brett J. of Keller Williams in Los Gatos. His said his typical buyers are a husband and wife in tech, making a combined $240,000 a year, who still can't afford a basic home in some parts of the valley. 

    "When the median home price is no longer supported by the median income, we're near top," he said.


    "Buyers for whatever reason are not willing to line up for a mortgage to buy a house," said Richard Calhoun of Creekside Realty in San Jose.

    Refer to original article in the SJ Hg News:


    http://www.mercurynews.com/News/ci_25955242/Bay-Area-home-sales-great-for/

    Enjoy,

    Sam Shueh

    Keller Wms Realty

  • Santa Clara & San Mateo County-factors affecting home prices

    Posted Under: General Area in Santa Clara County, Home Buying in Santa Clara County, Home Selling in Santa Clara County  |  June 6, 2014 7:45 PM  |  161 views  |  No comments
                                May 1, 2014

    Using a regression analysis the value of homes can be modeled in the following order
    for these two counties.  Assume a typical residential home 3-4 br, 2 bath+, 1300-2000 sf.

    Between Q1 2012-Q1 2014 (Growth cycle)
    The following independent variables contribute to home price value in the order of importance

    1. Home Size
    2 Luxirous items (i.e. outdoor kitchen, tennis court)
    3 Distance to job centers(assume Sunnyvale is the center)
    4 New kitchen and flooring quality
    5 local crime stats
    6 High ceiling
    7 neighborhood income (zip)
    8 Mortgage interest rate
    9 School test scores
    10 Home age
    11 Lot size
    12 garage (2 vs 3)

    Between Q1 2009-Q1 2011 (Decline Cycle)

    1. Home Size
    2. Kitchen-flooring
    3. Distance to job center
    4  Nieghborhood Income
    5. Local crime stats
    6. Luxirous items
    7  School quality
    8 Interest rates
    9 High ceiling
    10 Lot  Size
    11 Home Age
    12 garage size

    Each independent variable carries a different weight.

    Sam Shueh
  • San Jose Real Estate Stats Q1-2013

    Posted Under: General Area in San Jose, Home Selling in San Jose, Property Q&A in San Jose  |  March 17, 2013 2:14 PM  |  503 views  |  No comments
    Since Jan 2013 there has been 854 single family homes sold. With buyer anxious to get a home there is no loan contigiency and buyers are willing to pad the difference between sold and appraised. The time it took from an accepted contract to escrow is just 21 days.

    Total SOLD: (Jan+ Feb+ March(1-15))=854 homes.

    Total SOLD  housing Jan, Feb, March (1-15) is 1,237 units (homes, condos & TH)

    SOLD/ASKED price ratio follows schools. Top is 95129-111%, avg is 105.5%, Evergreen neighborhood with estates all receive full price asked. Only parts of downtown receive 1% below asked price.

    Avg SJC homes are now selling for $699,303.00 (March 2013) 25% higher than 1 year ago.

    Homes in better zip codes have recovered and have SOLD surpass previous highest peak(2008). They are as follows.  74% means it is still selling lower than previous peak during 2007-8 before the great recession. 101% meaning it already surpassed last peak.

    95126 74%
    95112 75%
    95148 75%
    95140 77%
    95116 77%
    95122 79%
    95133 80%
    95131 81%
    95131 81%
    95111 82%
    95125 83%
    95128 87%
    95127 88%
    95123 89%
    95139 91%
    95138 92%
    95136 92%
    95136 92%
    95135 93%
    95121 93%
    95120 93%
    95119 93%
    95124 93%
    95117 94%
    95117 94%
    95118 96%
    95110 96%
    95002 97%
    95130 102%
    95129 102%
    95132 103%





       Supply is moving up but the demand fundamentally is stronger.  Another 45 days will tell if there are just as many sellers as previous (recent) years....


    Sam Shueh, Keller Williams Cupertino Realty
    shueh at yahoo.com





























































  • Mortgage Underwater Distribution by City or Zipcodes

    Posted Under: General Area in San Jose, Foreclosure in San Jose, Property Q&A in San Jose  |  August 20, 2012 11:54 PM  |  688 views  |  No comments

    The information is as is.  The data is based on Q1, 2012 so the situation is better.
    It is at best a qualitative presentation,

    Sam Shueh
    Keller Williams Realty

    http://www.zillow.com/visuals/negative-equity/#5/36.244/-116.147
« Read older posts
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer