Reported by Dawn ONeal, BROKER~OWNER, GRI, CRS, LTG, ePro, ASP
Updated May 20, 2012.
Current Market Rating: 4
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Buyer's
Seller's
Current Price Trend: 3
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Falling
Rising
MY OPINION ABOUT MARKET CONDITIONS FOR CUPERTINO: May 19, 2012
The overall inventory of houses in Cupertino continues to be very low with only 45 homes active as of May 19. This compares with 101 this time last year and should indicate a reasonable sellers market. And the percentage of distressed sales has decreased to 7% and this suggests that prices could be strengthening. In fact, there are no "unsold" distressed sales still on the market. This compares to about 50% for the entire county at mid-May. Cupertino has a significantly lower percentage of distressed active listings than the county which might suggest that the housing market is stabilizing.
My advice? For buyers, we might be seeing a market turn-around, but this is still a very good time to negotiate a good deal and take advantage of the record low interest rates. However, the lower inventory indicates a stronger sellers market is evolving and the interest rates have been seeing some increases off the lows of several months ago.
For sellers, the low inventory suggests that this is a good time to go to market, especially considering the continued low interest rates. But DO fix your home for the buyer if you expect them pay top dollar. There is still enough competitive inventory in the market to cause poorly prepared homes to sit for a long time and buyers are still hesitant to get into the market. So they need to see a home that looks great!
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call me. Or .Go to my website www.dawnoneal.com and click on HOME SALES MARKET TRENDS at the bottom of my web page for current market stats.
If you need assistance finding a good Lender, contact me. Keep your eyes open and make solid offers and you, Buyers, will find the right house with perseverance.
SOME INFORMATION ABOUT CUPERTINO - Cupertino is world-renowned for the quality of its schools, which score very high. Many schools have won state and national recognition for academic excellence. Computer education is outstanding in this district. Vice President Al Gore once visited the city's Monta Vista High School and Homestead High was honored at a White House ceremony. Community and business support is very strong for education in Cupertino. Buyers should be very careful about buying for a particular school since some schools will not guarantee attendance even if you live in the right area. (for more information on Cupertino, go to http://www.dawnoneal.com/neighborhoods/index.cfm#Cupertino )
Repeating my words of caution to all potential Buyers and Sellers ~
With the influx of new agents in the industry, for your protection, please make sure that you are dealing with a Licensed Real Estate Professional before getting into contract and risking your hard earned equity. Go on-line to http://www2.dre.ca.gov/PublicASP/pplinfo.asp and check out their license.
ZIP Code: 95014 Approximate Location Boundaries: Cupertino
Location Characteristics: One of the area's most desirable school systems is located in this city. Log on to www.dawnoneal.com to find out more details about this town.
