Call Dan for the "Latest Market Info" at Toll Free 1-877-DAN PIZANO
Currently, there are approximately 130 listings in Campbell with approximately 11 sales this past week. Approx 22% Active to Pending percentage makes Campbell a Healthy Market.
Visit my Campbell website: www.HomesForSaleInCampbell.com
Here are the statistics for March 13, 2008 for Santa Clara County which represents approximately 401,000 Homes
(329K Class 1 SFH, 72K Class 2 C/T):
Single family homes (SFHs): 456 SFH Listings in Santa Clara County in the past week, with 221 sales this week. The
average home in Santa Clara County is taking approximately 81 "days on the market" to sell. Last month it was 87
Days. Asking Price compared to the actual to Sales Price Received is 98.2%. Last month sellers were receiving
lower offers at 97.1% of list price received. Days of Inventory is 192. This means that if there were no more
listings added in Santa Clara County it would take approximately 6.5 months to sell every single home on the
market today. The median price for Single Family Homes is $778,000 a change of approx. 1.5% lower compared to last
year.
Condo market: 152 Listings in Santa Clara County in the past week, with 72 Condo Sales this week. The average
condo in Santa Clara County is taking approximately 85 "days on market" to sell. Last month it was taking 81 days.
Asking Price compared to the actual to Sales Price Received is 98%.
Last month the % LP Received was very close to the same at 98.1%. The median price for Condos is $539,000 and
average is $553,161.
Total properties (SFH & C/TH) on the market in Santa Clara County went from 2538 in January of 2007 to 6714 at its
highest point on October 26, 2007, down to 5435 on January 4, 2008 and now on March 13, 2007 is at 6544. The
elevated inventories are a result of short sales, foreclosures, real estate owned properties (bank repos),
investors who are not flipping anymore, and the regular folks who can't seem to sell their home because they are
not realistic on the lowered prices. Interest rates, are very competitive and have come down into the low 6% range
for a fixed conforming loan. Jumbo loans are higher and qualifying for both loans remains a challenge for many
first time buyers.
Here's My Take On The Real Estate Market:
Wall Street has been on a trend downwards lately with the price of oil so high due to among other factors the
weakness of the dollar in the world economy. Another reason Wall Street has been on a downward slump is due to the
Housing Crisis.
And now for some better news. The FED is expected to cut short term interest rates again soon. This will make it
more attractive for buyers on the sidelines to lock in on a good interest rate and or refinance.
New Mortgage applications for loans nationwide increased last week for the first time in a while according to the
Mortgage Bankers Association. In fact, the new applications for loans were up 1.4% on a seasonally adjusted basis
and more than 14% week over week on an unadjusted basis.
Also, the Housing Stimulus package called for FHA conforming limits to be raised in California and higher priced
areas. Total of 14 counties in California saw their loan limits raised to $729,750 from $417,000.
Now is a great time to buy up, buy down, do a 1031 exchange.
Call Dan for the "Latest Market Info" at Toll Free 1-877-DAN PIZANO
ZIP Code: 95008 Approximate Location Boundaries: surrounded by Los Gatos, Cambrian, and West San Jose
Location Characteristics: Campbell is a small city surrounded by the town of Los Gatos, the neighborhood of Cambrian and San Jose. Campbell has been regarded as the place that the "Fruit Cocktail" was invented. Which doesn't surprise anyone who remembers Campbell covered with orchards and canneries. Campbells downtown is lined with restaurants, pubs, and sidewalk cafes. Shopping is made easy in Campbell with the Pruneyard Shopping Center and move theatres.
About Daniel Pizano Coldwell Banker:
Daniel Pizano is a RealtorŪ with Coldwell Banker. He is proud to be affiliated with Coldwell Banker, the largest and most respected Real Estate firm in the world.
Daniel specializes in Silicon Valley and the greater San Jose area. He has lived in the San Jose area his entire life and is regarded as a local expert. He is a graduate of San Jose State University. He is an writer for real estate websites and a monthly eNewsletter. As a writer he researches market conditions on a daily basis and has a thorough understanding of home prices and values in many areas.
According to Daniel, "The Bay Area is like no other place in the world and the average home prices can fluctuate from neighborhood to neighborhood and from city to city by a huge price variance. I can help you relocate here and or find your dream home by planning out exactly where you want to live and explaining the different areas of San Jose."
Daniel began his professional training with the Chamberlain School of Real Estate. He received his real estate training with Coldwell Banker's highly acclaimed S.T.A.R.T program. A Top Producer with the Los Gatos Office, Daniel is e-Pro Certified as well as CASA Certified. Daniel has been a buyer's agent, listing agent, has handled short sale transactions, Bank owned or REO transactions, and other more complicated transactions such as 1031 exchanges. His continued education in real estate includes Ethics, Fair Housing Laws, Contracts, Legal Updates with Attorneys, and Handling Trust Accounts.
Prior to real estate, his background included working in the non-profit world and running his own business. In addition, he has served his civic duty by having served for four years on the City of San Jose's Human Rights Commission. The Human Rights Commission stands up for citizens rights and makes recommendations to the city council.
His real estate career is driven by a set of values such as honesty, hard work, and integrity.
Here's what clients say about Daniel: "Thank you for all the help you gave us in the sale of our home of thirty seven years and the purchase of our new home. You made it easy for us and not as stressful as we had anticipated. We will recommend you."
-Bill & Jan, Almaden Valley
"Thank you for making the sale of our home smooth and stressfree!"
-Erez & Liora, Los Gatos
"Thank you for the wonderful job you did helping us buy our first home. We really love our home and I look forward to working with you in the future."
-Mike & Jannelle, Santa Clara
"Thank you for selling my house. You were professional and did an excellent job of getting good exposure!"
-Dean P., Cambrian
"Thank you for selling my condo in San Jose! Before I met you I was frustrated because I had it listed twice with two different brokers and they failed to sell it."
-Harpreet S., San Jose
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
