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Sam Shueh Realtor Blog

By Sam Shueh | Agent in San Jose, CA
  • Bay Area home price stabilized after hot home sales started slowing down

    But the parts of the East Bay closest to San Francisco are still sizzling, said Cameron Platt of Platt Real Estate in Oakland. "We've seen it kind of start to slow down in terms of the volume of offers, but we've had multiple offers on just about every listing. There's still a hell of a lot of demand out there."

     

    A persistently low number of homes for sale in Silicon Valley has Chris Trapani of Sereno Group predicting another jump in prices early next year. "We'll have fewer properties for sale in January, and if the demand is equal, it's hard to argue that we won't see some more price appreciation," he said.

     

    While the home-buying season peaks at the end of June "just like clockwork," added Michael Simonsen, CEO of Altos Research, "we don't see bearish signs in demand" in Silicon Valley's future.

     

     

    http://www.mercurynews.com/News/ci_26514018/August-slowdown-hits-Bay-Area-housing-market-after-redho...

     

    Enjoy,

    Sam Shueh

    KellerWms Cupertino Realty

    http://x299322.yourkwagent.com/

  • Home Price Plateaued in SF Bay Area

    SJ Hg News (Carey) data* is based on sales through July.  While the momentum can be "seasonal chilling", in central SJ it is still a challenge to purchase homes at listed or based on recent sold prices.  Those unable to pay arm and a leg in top school neighborhoods are flocking to adjacent neighborhoods causing a chaos in second tier schools neighborhoods.

    The following data seem to suggest listing price is the key factor.  When they do sell it is close to full price.
    As of 8/17/14

    CU good school neighborhood:    8% homes experience list price reduction
    Central SJ (Lawrence to Almaden Xpr)   16%
    South SJ                                             28%
    East    SJ                                            26%
    Morgan Hill                                          44%
    Gilroy                                                  48%
    San Jose City                                      26%
    Santa Clara County                              27%

    Milpitas                                               13%
    Fremont                                              13%    
    Alameda County                                  15%

    San Mateo County                               23%

    Sellers are trying to cash out their long awaited equity, buyers are willing to shop around and are not bullish on future price increase. There are new constructions going on everywhere in Bay Area to compete with used home market. Homes which are priced incorrectly agents will be doing open house for months....
  • SJ Hg news says housing craze has stabilized....

    http://www.mercurynews.com/News/ci_26336354/Bay-Area-home-prices-plateau-on-slowing-sales/


    Sam Shueh
    Keller Wms Realty

    http://x299322.yourkwagent.com/    <search for properties>
  • Trulia is rumored to be acquired by Zillow

    Posted Under: Market Conditions in California, Home Buying in California, Home Selling in California  |  July 24, 2014 7:19 PM  |  248 views  |  2 comments

    Zillow Inc. (Z) purchase of Trulia Inc. (TRLA) would create a dominant search website for U.S. house hunters, reshaping an online industry the companies helped popularize.

    Zillow, the largest U.S. real estate website, is seeking to buy No. 2 Trulia for as much as $2 billion in cash and stock, according to people with knowledge of the matter. An agreement may be announced as soon as next week, said one of the people, who asked not to be identified because the information is private. Talks are ongoing and may not lead to a deal.
    -----------------------------------------------------------
    Zillow CEO said to leave meeting to head to San Francisco, CNBC reports
    San Francisco is the location of the headquarters of Trulia (TRLA), which a Bloomberg previously said is in talks to be acquired by Zillow (Z).
    Sam Shueh
    KW Cupertino Realty

    http://x299322.yourkwagent.com/

  • Home Price change City by City

    Posted Under: Market Conditions in San Francisco, Home Buying in San Francisco, Home Selling in San Francisco  |  June 24, 2014 10:48 AM  |  282 views  |  2 comments
    http://blogs.marketwatch.com/capitolreport/2014/06/24/a-city-by-city-look-at-home-prices-including-the-surge-in-boston/


    San Francisco trails Boston.....  Silicon Valley(SJC) was not tracked.


    Sam Shueh
    Keller Wms Realty

    http://x299322.yourkwagent.com/
  • % of home Sellers in South Bay need to make price adjustment to sell, hot market

    SF South Bay neighborhoods are becoming a normal sale after school ends.

    As of June 19, 2014 there are more homes on the market than before school ends. While the market is hot, there are more home sellers having to reduce price to get into offer accepted.

    Fremont           16%

    Milpitas            27%

    San Jose  City  20%

    South San Jose    17%

    East San Jose      25%

    Outling neighborhoods

    Morgan Hill         32%

    Gilroy                   33%

    Job Centers

    Sunnyvale, Santa Clara 13%

    Cupertino                      9%

    Time to the market is still brief but it takes 28 days (SJC-2014) as opposed to 23 days (SJC-2013).

    Homes still sold more than asked but it is 1% less than same time last year for San Jose. We are seeing a normal year. 

    Sellers need to understand the market conditions have changed back less crazy.

    Time to the market is still brief but it takes 28 days (SJC-2014) as opposed to 23 days (SJC-2013).

    Homes still sold more than asked but it is 1% less than same time last year for San Jose.

    Home prices in 2014 are still going up as a slower rate than previous year.

    Sam Shueh
    Keller Williams Cupertino Realty

    SamShuehRealtor at Gmail.com
    http://x299322.yourkwagent.com/

  • The next home price correction time -SF Bay area

    Posted Under: Market Conditions in San Francisco, Home Selling in San Francisco, Agent2Agent in San Francisco  |  June 6, 2014 8:12 PM  |  297 views  |  2 comments
    Home owners still like to time the market, if the price is maxed out there is enough equity for empty nesters to cash out they will sell and move
    out of the area. All senior folks I spoke to this year would like to sell but feel they want to time the market by delaying the decision.

    Lawrence Yun, an engineer turned real estate economist working for NAR knows in a recovery cycle it recovers quickly initially. The first time constant(tau) recovers 62.3% of peak. 10 quarters passed already from trough($) of Great Recession. Recalling 3 time constant takes to the peak price(99.8%).

    Do we have another 20 quarters left before house price maxed out?

    My feeling is San Francisco high technology (e.g. gadget, social media etc market will come to a slow down between now and sometime in the future(<< 10 quarters). 

    The loss of jobs and higher interest rate will then cause a price correction. It may not be as dramatic as the Great Recession but it will be felt. In fact, Dr Lawrence Yun stated the mechanism
    in causing a price correction is going to be very different from the Great Recession.

    Sam Shueh
    Keller Williams Realty


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