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Asked by Ricosciaky, Austin, TX Sat Nov 10, 2012

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Answers

8
The Medford…, Agent, Fremont, CA
Sun Nov 11, 2012
In fact, prices in 95118 are up 31.8% over the same period last year. As mentioned below, escrows that fail are not because prices are falling – in fact, it’s often the opposite. As an example: when home prices go up quickly, appraisers frequently cannot keep pace and appraisals often come in low. When that happens, buyers typically need to bring more money to the transaction. If they cannot or the buyer and seller do not come to an agreement or compromise, then the home is back on the market.
1 vote
Terri Vellios, Agent, Campbell, CA
Sun Nov 11, 2012
Statistics are interesting and can be tweaked in many ways.

Cambrian continues to hold it's value. If you are seeing homes come back on the market it can be for a variety of reasons. The most common reason are short sales. The lender takes too long to approve the offer and buyer decides to move on to another property. The other reasons homes come back on the market is that perhaps the seller failed to provide inspections and the buyer discovered items which the seller was not willing to repair. And the other reason is for financing, such as appraisal, buyer has changed their credit, or other reasons. They are not coming back on the market because of loss in value and I'd be happy to run numbers specific to your criteria.

Have an amazing day!
Web Reference:  http://www.terrivellios.com
1 vote
Elena Talis, Broker, Palo Alto, CA
Sat Nov 10, 2012
You misinterpret the cases when properties come back to the market. It is more often a problem with the buyer not being able to close than the property itself.
Web Reference:  http://talisrealestate.com
1 vote
Mitchell Pea…, Agent, San Jose, CA
Sat Nov 10, 2012
Ricosciaky:

Social media giants, Google, and Yahoo are all hiring out of the area talent. They are offering six figure salaries. The hires are coming from out of the area. So there is a net inflow of money and housing demand, which always forces prices up. This will continue for the foreseeable future. Buy now, appreciate the increase in equity and know you'll pay more if you wait to buy later. This has been a recurring pattern in all of Santa Clara and San Mateo Counties.

Call me if you want some help in qualifying for a loan and finding a home.

Mitchell Pearce
408-629-0211
mitchell@handsonrealtor.com
1 vote
Norman Aless…, Agent, San Jose, CA
Sat Nov 10, 2012
I agree with Charles, the homes in the 95118 area will continue to hold there value and may increase some more. Don't be fooled by homes that go back on the market as that has more to do with the buyer rather than the property or seller.
If you need assistance or have any other questions, please feel free to contact me.
At your service,
Allyson
408-705-6578
allyson@homesbyallyson.com
Certified Distressed Property Expert
1 vote
charles butt…, Agent, san jose, CA
Mon Nov 12, 2012
Thank you for your question:

I did some research for you with respect to the property that you are talking about at 1234 Pembridge.

The property at 1234 Pembridge was listed for sale on November 1, 2012 and sold 9 days later with multiple offers, and overbids.

The property is currently a pending sale in escrow.

The last time that property was listed for sale was back in 2003.

As I said in my first answer to your question, properties in this area are rising in value. Those properties often sell in 20 days or less with multiple offers and overbids over the recent closed comparable sale prices and often with overbids over the list price.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
0 votes
Juliana Lee…, Agent, Palo Alto, CA
Sun Nov 11, 2012
Although the Cambrian area hasn't seen as strong of a recovery in prices as Los Altos, Mountain View, and Palo Alto, prices have climbed upward.
http://julianalee.com/san-jose/cambrian-statistics.htm

There are currently 58 homes with pending sales in zip code 95118. With this much activity there are sure to be some escrows which don't close.

Juliana Lee, MBA LLB
650:857-1000
homes@julianalee.com

Top 3 agent nationwide at Keller Williams Realty
Over 20 years experience
Over 1000 home sales closed in Santa Clara and San Mateo counties.
Web Reference:  http://julianalee.com
0 votes
charles butt…, Agent, san jose, CA
Sat Nov 10, 2012
Thank you for your question.

Yes, property values are continuing to rise in all areas of San Jose. Inventory levels are very low and buyer demand is very high.

We are continuing to see multiple offers with overbids over the list price and over the recent closed comparable sale prices.

We are seeing some ridiculously overpriced properties. This is typical in seller's markets like the seller's market that we are in currently. Some of the seller' s get over optimistic about market values and overprice their properties. Those are often the properties that fall out of escrow because they fail to appraise for the purchase price.

For a home that is priced at the Fair Market Value as determined by recent close comparable sales the marketing time is generally less than 20 days in this neighborhood. Closed sale prices are continuing to be greater than the closed sale prices of the most recent comparable sales.

Thank you,
Charles Butterfield MBA
Real Estate Broker/REALTOR
American Realty
Cell Phone: (408)509-6218
Fax: (408)269-3597
Email Address: charlesbutterfieldbkr@yahoo.com
DRE#00901872
.
0 votes
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