The city is the site of the eighth of 21 California missions, Mission Santa Clara de Asís, and was named after the mission. The Mission and Mission Gardens are located on the grounds of Santa Clara University. The above picture is taken out side of the Santa Clara Univervisty.

What is the current Real Estate market in Santa Clara Calif ?

If we compare from November 2008 to November 2009, you will find some interesting changes: 

1). The home inventory has gone down from last year’s 199 to this year 97.  The numbers of sold homes has gone up from last year`s  32 to 34 this year. 

2.) The average Santa Clara home sales price is higher. In November 2009 sales price is $673,430 vs last November’s  $621,636 The median sales of  November 2009 is $638,000 which is a increase from last November’s $598,750. 

3.) Last November took average 67 days to sell a home however this year will need 29 days to sell a home. 

This real estate trend is the same as last month. In the November of 2009 there are 66% less home inventory and 6.3% more the Santa Clara homes get sold.  The average Santa Clara sales price rose 8.3% and the Santa Clara median price homes increased 6.6% from last November to this November.  The above data information came from the www.reil.com.

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.

In Santa Clara and San Mateo County of California we are experience a very strong buyers market espcially at lower end like under $500,000 single famil homes. If we look at both counties real estate data as end of June 2009 for the half year inventory, we can find the the Single Family homes under $1M  median list price has gained from  $600K to $630K at Sept 1, 2009.

What is the current Santa Clara Ca Real Estate market? If we compare from June 2008 to June 2009, you will find some interesting changes:

1). Home inventory reduced from from last year’s 228 to this year 152.  The numbers of sold homes has increased from last year 57 to 51 this year.

2.) The average San Jose home sales price is lower.  This June sales price is $615,337 vs last June’s ’ $797,777. The median sales of June 2009 is $592,5000 which has dropped from last June’s $751,000.

3.) Last June took average 57 days to sell a home however this year will need 51 days to sell a home.

This real estate trend is the same as last month. In the June of 2009 there are 33% less homes in  inventory and 10.53% San Jose homes get sold.  The average San Jose sales price dropped 22.87% and the San Jose  median price homes dropped 21.11% from last June to this June.  The above data information came from the www.reil.com.

Any home buyers and sellers need a really a good realtor to help the home buyers to buy and sellers to sell. If you or someone you know is thinking of buying or selling property in Santa Clara County (Sunnyvale, Cupertino, Saratoga, Mountain View, San Jose), California, please contact me because I offer a free 45 min. consultation to cover the complete local current real estate market. You can email me GraceKeng1@gmail.com

Wow! Is it possible to buy a home without money?
As the loan guide line is tough now, it is very difficult to buy any home without down payment. Today I come across an interesting infromation that city of Santa clara. This city of Santa Clara Below Market Price Housing Program administered by neighborhood housing services silicon valley (NHSSV). It offers a 5 year deffed secondary loan of $125K with zero interest during the deferrment period, for the first time home buyers. You may contact NHSSV for a list of preferred lenders.

The applicants must not exceed the following income limits:

• Household of 2 persons = $101,300
• Household of 3 persons = $113,900
• Household of 4 persons =$126,600

Income limits are  based on the total gross before taxs annuyal income per household
You will need the proof of employment, residency and other list of preferred lenders, The applicants must submit a pre-qualification or preapproval letter froma direct lender for a 30 year fixed rate conventional loan.

What is the current Santa Clara county Ca Real Estate market? If we compare from May 2008 to May 2009, you will find some interesting changes:

1). Home inventory dropped from from last year’s 6130 to this year 4445 .  The numbers of sold homes increased from last year 874 to 987 this year.

2.) The average Santa Clara County homes sales price is lower.  This May sales  price is $645,774 vs last May’s ’ $976,263. The median sales of May 2009 is $490,000 which is dropped from last May’s $772,500.

3.) Last May took average 71 days to sell a home however this year will need 86 days to sell a home.

This real estate trend is the same as last month. In the may of 2009 there are 27.48% less home in inventory  and 12.92% more the Santa Clara County homes get sold.  The average Santa Clara County sales price dropped 33.8% and the Santa Clara County  median price homes dropped 36.56% from last May to this May.  We have more homes sold and less inventory for sale form year to year. Both Median and average home price dropped about 1/3 year to year. The above data information came from the www.reil.com.

Any home buyers and sellers really need a good realtor to help them. If you or someone you know is thinking of buying or selling property in Santa Clara County (Sunnyvale, Santa Clara County, Saratoga, Mountain View, San Jose), California, please contact me because I offer a free 45 min. consultation to cover a complete current real estate market. You can email me GraceKeng1@gmail.com

If you purchased a home in 2005 to 2008, and the value has wen donw. You may be eligible for a property tax reassessment under California’s proposition 8 which is a decline in value reassesment. The Chicago Title’s new website, www.CTCProp8.com is a comprehensive souce for Proposition 8 information and forms. It has the following features:

1. Direct links to the County Assessor’s office

2. Direct links to County Reassessment Eligibility Informaiton

3. Direct links to County Reassessment Application Forms

4. Direct link to a Guide to Proposition 8 in the pdf format for informaiotn and rapid reference. I visit it today to figure out how the prop 8 in Santa Clara County works.

This year you will see taxpayers and municipalities across the country facing off over the issue of capping property taxes. The above photo is credit to  http://trends.move.com/property-tax-caps-considered-nationwide/

I follow the Santa Clara County ( Silicon Valley) Single Family Real Estate market of April 2008 compared to April 2009 shows some interesting economic changes:
1.) The homes inventory goes down from last year 6043 to this year 4919. The sold homes increased from 653 last April to 914. The average price dropped from last year  $986,374  to $597,877 this year. The median price of Santa Clara county homes has dropped from $768,000to $470,500.
3.) It takes average 49 days last year to sell but this year is 61 days.
With all the numbers that show this month we have almost 10% less inventory of homes for sale and the number of the homes sold increased. The both average and median price for homes dropped about 33% from last April to this April. The price dropped due to much more lower end homes such as short sales and REO (bank owned) homes sold. The above information came from the multiple listing services www.reil.com

If you are planning to buy or sell homes in Silicon Valley (Santa Clara County ) which could be the cities like sunnyvale, Cupertino, Saratoga, Moutain View, San jose..,  please contact Grace Keng, REALTOR®. , I offer a free 45 min. consultation to cover a complete he current real estate market. You can email me GraceKeng1@gmail.com

Santa Clara Calfornia Single Family Homes MarketAn overview of

1.) The homes inventory rose to 143 this year from last year’s 128.The sold homes are grow from 12 last April to 11 this year.2.) The average price of

3.) It takes average 115 days to sell a

With all the numbers that show this month we have almost 10% more homes at the

www.reil.com  If you are planning to buy or sell homes, I offer a free consultation to cover a complete he current real estate market. You can email me GraceKeng1@gmail.com