The real estate is heated up even the weather is cooling off now.
Yesterday I showed a REO home there are 5 groups with their realtors to check it out.
If you like to see from the San Jose Mercury News regarding the market you can click this link. http://bit.ly/R6AYz This Sept 2009 shows 17% gain of from last year to this.There are mutiple offers and all cash buyers to purchase the homes especially under $500K.
I think all the buyers finally woke up and find out they have to compete with the all cash buyers for a San Jose only 3 years new for $400K and about 2000 sf. Those KB homes were sold in between $650K to 700K.
November 11th, 2009 at 7:37 am
The pendings are way up in come markets, too, which I think points to a “change of tide” overall. But it always depends on exact location, price point, school district etc. The Days on Market are really long so you are right to call this market unsettled - we are getting some mixed signals.