Hi Niraj,

Are you thinking of buying another house? If you are now is the right time interest
rates are low right now. You mentioned your house is in ZIP Code 95111 it is good
for first time buyers or investors I would see. It is convenience to Marina Store,Play
Market,and it is easy access to Freeways 87 & 100.

Hello Niraj, inventory in all areas of San Jose is extremely high. If you don't have a specific purpose or need to sell, I suggest holding off until the market improves. Kind regards.

95111 has alot of short sales...but that is like most of South San Jose including Blossom Hill and Santa Teresa area. Alot of the buyers in the last 6 years took out loans that bought in those area were 1st times home buyers. And took out loans that readjusted to a higher interest rates.

Niraj -

That area of San Jose is in transition mode. With the new shopping complex on the corner of Curtner and Monterey opening now, we should see some continued push to the positive. There are several new developments for housing in the construction as well. I think what most of us have been unsure of is what the city plans to do with the industrial areas. These need to transition as well to make this neighborhood more appealing. The Montecito development is doing well but there are also some patches of homes that don't show pride of ownership that are keeping the area down.

I do believe it will continue to develop in a positive way. It will take a stronger city and neighbor initiative to bring it into line. As Ali indicates in his stats below, the area (like many) have more inventory on hand than buyers. This area is in a strong buyer's market . We did see a bump up on average sales price (ASP) in March but we will have to wait and see it this is a trend for future months.

Unless you have to sell, this is one of those areas that needs to recover from the sub-prime hit. With the smaller pool of buyers, it is hard to compete when there are more established areas to choose from. Transitional areas tend to take longer to recover.

If you do have to sell, there are a lot of positive changes to market. Look at your home from a new buyer's standpoint and see what advantages you have. There are many buyers that want to be a part of changes for an area and these are the ones you would need to target. Staging is important in this market. Also, soliciting the help of your neighbors by having them clean up their yards (one example) to help your part of the neighborhood present as well as it can will help.

If you want to talk about your particular situation to see whether it is a good time to sell your home , contact me. I offer a no-obligation, no-hassle consultation. In this market, it is good to have real estate consultants. I am happy to help.

CJ

Niraj,

In the past 6 months 47 single family homes have sold in the 95111 zip code. The average days on the market is 113 days. The shortest number of days on the market is 5 and the longest is 444 days. Currently there are some 270 active on the market in 95111 zip code. I'd be happy to provide you more details if I know the specifics of your home. Please feel free to contact me at your convenience.
Hope this helps!

You may find some good home sales info at the following website http://www.realtor.com/homevalues/#NEXHASHlat=37.85750715625…

Good luck to you.