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 LOS GATOS: May 19, 2012
The reduction in inventory of homes in the Active status has been dramatic over the last year. The current 97 active listings compares to 157 a year ago, and 117 six month ago. And Los Gatos continues to have a very low number of distressed sales at 14.2% of inventory.. This compares to about 50% for the entire county at the same time.
My advice? For those buyers that are in a healthy financial position, this is a great time to buy in this traditionally strong market area. Considering the continued generally slow real estate market, Sellers are probably selling for a good reason and just might be willing to negotiate price and terms. Interest rates continue at record low levels and this would also suggest that now is a good time to buy.
For sellers, the lower 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 it is only right and will make for much happier buyers and smoother transactions. And potential buyers are still concerned about the market pricing looking forward and need to see a home in prime condition to get them to move ahead.
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.
ABOUT LOS GATOS - Flat lands rise to wooded and open hills in this city where there are a mix of many different types of homes. From beautifully restored Victorians to brand new homes, majestic hillside estates to townhomes and condominiums, Los Gatos has something for everyone.
(for more information on Los Gatos, go to http://www.dawnoneal.com/neighborhoods/index.cfm#LosGatos/MonteSer.)
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ZIP Code: 95032 Approximate Location Boundaries: Los Gatos
Location Characteristics: This old town is alive with history and quaint shops to explore. Great city on the way to the ocean in Santa Cruz. Log on to www.dawnoneal.com to find out more about this great city in California.
