If you need any ideas / help / consultations / preliminary budgeting for work that needs to be done on this home let me know.

The more days on market, the softer the list price is. Homes that are priced right are moving. The buyer wants to feel he or she is getting a "deal." I just represented a client offering 900K on a 1.3K listed home in Los Gatos. We didn't get it, but it is still sitting on the market, priced higher than anyone wants to offer!

We are finally seeing some very good upswings in purchases! Loan rates in the nonconforming jumbo are close to 5 or 6 depending on factors relative to credit, assets, etc.

If you want it, offer less and see what happens! It looks quite lovely from the photos. Push the envelope low to bring a counter so you know you are getting a good price. You can head over to Zillow.com and find some comparable sold prices, or ask an agent to look up sold prices for you.

Erica Nelson http://www.EricaNelsonEstates.com
EricaNelsonEstates@gmail.com

Erica

It's not uncommon for high end homes to be on the market for 6 months (or even a year). Especially in this tight lending market for jumbo loans. If a buyer does not have a substantial down payment they won't qualify to purchase this property. The seller also began the pricing much higher at the start of 2009, but has been adjusted downward according to current values. This home is lovely and it appears they finally have it priced right. Brand new construction on highly desirable Shannon Rd in Los Gatos with almost 4000 sq.ft. of living space for under 2 million is a good deal in my opinion. The only undesirable aspect of any home in this price range would be the property taxes.

Hi,

Financing is a hurdle for many. The home listed at $2,398,000 in Janaury, and has seen a few reductions. It's hit a tough patch in the market. Out of 13 homes in the vicinity, only 3 are in contract.

Specific to the home, it's a relatively small lot size and Shannon carries some traffic. It's languishing on the market because the market says it is not the right price/time. I am sure if you like the home you can strike a deal.

Thanks,

Patrick Johnson
Keller Williams Realty
(408) 410-9139
patrick@dreamsbytheyard.com

Hello Home Buyer,
Homes in this price range and in this neighborhood have taken longer to sell than in past years due to market conditions. Another reason may be that not many buyer's are able to qualify for a large loan due to tighter lending restrictions. One last thing to think about - it may be that it's priced too high.
If you are working with an agent, ask them to show you some comparables for the area. If not... I'm available.

Rosie Poliquin
Agent