In San Jose, we are seeing multiple offers on properties under $300K - perhaps suggesting a bottom or slowing of the decline in home prices. Additionally, the number of monthly sales has been increasing since January 08.
This information just came in from CAR:
Home prices throughout most areas of California will post declines next year while sales of existing homes will continue to rise in 2009, according to a forecast released by the California Association of Realtors.
“The current uncertainty about the financial system and economy is likely to persist over the next several weeks, and could extend into next year,” said CAR President William E. Brown. “Our forecast assumes that the financial system will begin to show signs of stabilization late in 2008 and into early 2009.
No one can tell the future - what do you think is happening in this current market?
Showing posts with label san jose real estate. Show all posts
Showing posts with label san jose real estate. Show all posts
Thursday, October 16, 2008
Monday, April 28, 2008
Why The Worst May Be Over
I found this article interesting because it has some compelling arguments for economic recovery.
Also because, just like a depressed Seattle-ite in March that hasn't seen the sun for 8.67 months, I am dying for a little sunlight and cheer to break through all the grey economic overcast.
Also because, just like a depressed Seattle-ite in March that hasn't seen the sun for 8.67 months, I am dying for a little sunlight and cheer to break through all the grey economic overcast.
Saturday, December 29, 2007
Why I LOVE the San Francisco Bay Area
Just like a long term relationship, when you've lived somewhere for a long time, it's easy to forget all that you love about it. At least it is for me.
I've been working on investments in Dallas for a few years now and, although I love Dallas, I have a new appreciation for San Jose.
1) The hills are gorgeous. I was out in Almaden Valley this week. I lived there from 72 to 76 and it's been built up a lot since then but, the hills are still gorgeous.
2) The light here is bright and beautiful without washing everything out.
3) I went running at Rancho San Antonio. This is my favorite running trail. It starts out along a huge meadow with a large basil tree and tennis courts at the end. Then up along the base of the hills until you get to a small farm. There are patches of basil and corn and lettuce. There are pens of goats and sheep. There is a covered area with picnic tables underneath that's framed to look like a barn. It's very charming and brings a lot of families. It's about a mile to the farm. Once I pass throught the fence and head up the hill, the families disappear. The forest gets quiet and I can hear my breath and an occasional bird. The deer sometimes peak out from the underbrush. As do wild turkey, quail, bobcats and snakes. It's about two more miles to the top of the hill. When I hit the top I can see Moffatt field and Shoreline straight out. It's a beautiful clear day so I can see all the way up to the low rolling hills of South San Francisco. I run along the ridge here, along the back side, until I get to another ridge where I can see the wide lanes of 280 heading into San Jose and the skyscrapers of downtown and the rolling hills of east San Jose in the distance. I take the long way back, winding down the side of the hill and along a long rolling path along the valley floor. I hit the farm and settle into the last mile of my run. It's about a six mile run all together. It takes me about and hour and 20 minutes but, it feels like a mini-vacation, a little rest, my time with god.
4) I have shopping within 5 minutes of my house. I have strip malls of restaurants and groceries and drugstores and Starbucks. Then I have Westgate Mall - which is at the interesection of Prospect and Saratoga and each corner has something. From the big boxes of Target and Office Max and Barnes and Noble to the medium sized REI, Nordstrom Rack and Ross to Amarin Thai Restaurant, Pier One, Red Robin, Mimi's, Pete's coffee, Trader Joe's, etc.
Five minutes in the other direction takes me to Valley Fair & Santana Row - Macy's, Nordies, Gap, Pottery Barn, Cheesecake Factory at Valley Fair. Santana Row houses some great restaurants like Left Bank, Blowfish Sushi, Sino, Yankee Pier, Consuelo's, Maggiano's even Pasta Pomodoro.
So there you go - it's about balance. Lots of eating and lots of running :-)
Welcome to the Bay Area.
I've been working on investments in Dallas for a few years now and, although I love Dallas, I have a new appreciation for San Jose.
1) The hills are gorgeous. I was out in Almaden Valley this week. I lived there from 72 to 76 and it's been built up a lot since then but, the hills are still gorgeous.
2) The light here is bright and beautiful without washing everything out.
3) I went running at Rancho San Antonio. This is my favorite running trail. It starts out along a huge meadow with a large basil tree and tennis courts at the end. Then up along the base of the hills until you get to a small farm. There are patches of basil and corn and lettuce. There are pens of goats and sheep. There is a covered area with picnic tables underneath that's framed to look like a barn. It's very charming and brings a lot of families. It's about a mile to the farm. Once I pass throught the fence and head up the hill, the families disappear. The forest gets quiet and I can hear my breath and an occasional bird. The deer sometimes peak out from the underbrush. As do wild turkey, quail, bobcats and snakes. It's about two more miles to the top of the hill. When I hit the top I can see Moffatt field and Shoreline straight out. It's a beautiful clear day so I can see all the way up to the low rolling hills of South San Francisco. I run along the ridge here, along the back side, until I get to another ridge where I can see the wide lanes of 280 heading into San Jose and the skyscrapers of downtown and the rolling hills of east San Jose in the distance. I take the long way back, winding down the side of the hill and along a long rolling path along the valley floor. I hit the farm and settle into the last mile of my run. It's about a six mile run all together. It takes me about and hour and 20 minutes but, it feels like a mini-vacation, a little rest, my time with god.
4) I have shopping within 5 minutes of my house. I have strip malls of restaurants and groceries and drugstores and Starbucks. Then I have Westgate Mall - which is at the interesection of Prospect and Saratoga and each corner has something. From the big boxes of Target and Office Max and Barnes and Noble to the medium sized REI, Nordstrom Rack and Ross to Amarin Thai Restaurant, Pier One, Red Robin, Mimi's, Pete's coffee, Trader Joe's, etc.
Five minutes in the other direction takes me to Valley Fair & Santana Row - Macy's, Nordies, Gap, Pottery Barn, Cheesecake Factory at Valley Fair. Santana Row houses some great restaurants like Left Bank, Blowfish Sushi, Sino, Yankee Pier, Consuelo's, Maggiano's even Pasta Pomodoro.
So there you go - it's about balance. Lots of eating and lots of running :-)
Welcome to the Bay Area.
Monday, December 17, 2007
Declining California Markets
Interesting info I got this morning:
This lender has reduced it's max LTV by 5% for these areas. That means that if you used to be able to borrow $90,000 on a $100,000 purchase, you now need to come up with another $5,000 because they'll only loan you $85,000.
I wonder if 5% is a reasonable expectation, some areas are expecting double digit declines. hmmm.
This lender has reduced it's max LTV by 5% for these areas. That means that if you used to be able to borrow $90,000 on a $100,000 purchase, you now need to come up with another $5,000 because they'll only loan you $85,000.
I wonder if 5% is a reasonable expectation, some areas are expecting double digit declines. hmmm.
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