Campbell, CA Real Estate News

By John Pinto
(Realty World - John V. Pinto & Associates, Inc.)
I have reviewed the August MLS statistics for Single Family Homes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto
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By John Pinto
(Realty World - John V. Pinto & Associates, Inc.)
I have reviewed the August MLS statistics for Condominiums & Townhomes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 One of my clients just asked me what is the difference between an HOA and a Mello Roos.  Good question, I thought.  An interesting topic for the blog….. An HOA (Home Owner Association fee) is typically associated with CIDs (Common Interest Developments) or types of residences where owners share some space in common.  Because there is sharing of common areas (e.g. greenbelts, pool area, tennis courts, laundry facilities, gates around the community, etc…) the collective ownership (association members) will share in the upkeep and maintenance of these areas.  This is why the residents will pay HOA dues to the association.  Mello Roos is a special facilities tax, typically for newly developed districts or communities.  This special tax (typically a bond measure) is used to establish many ...
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By John Pinto
(Realty World - John V. Pinto & Associates, Inc.)
I have reviewed the July MLS statistics for Single Family Homes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto
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By John Pinto
(Realty World - John V. Pinto & Associates, Inc.)
I have reviewed the July MLS statistics for Condominiums & Townhomes in Campbell, California. Please listen to my podcast to learn about the key trends and indicators in this area. If you have any questions about the market, feel free to give me a call at 408-829-4141 or e-mail JohnPinto@jvpinto.com Thank you, John V. Pinto
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Being associated with a National Company has advantages, and one of those is the ability to do a national search.  Through the Re/Max website, the consumer can get access to all the mls' in the nation.     Go to my website and click on the "search for all homes here" link and have access to the listings of the entire nation at your fingertips.  Most local firms grant you access to only their listings or only regional listings.  Remax permits you to search the entire nation.  If you are moving to another state, this will particularly be handy.      Do you want  the latest listings that fit your criteria to be emailed to your inbox automatically as soon as they come on the market?  Then simply go to the tabs on the left side of my website and click the tab called "new listings notificati...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 When purchasing a home, buyers look over a mountain of disclosure documents to help them determine if the property is in proper condition and whether to go forward with making an offer or not.  One of the documents that gets the most attention is the Structural Pest Control Report or more commonly referred to as the Termite Report.  These reports generally identify two types of infestations which can destroy wood:  termites and dry rot fungus.     Why is the termite report important?  For two reasons:  section 1 and section 2 items. Section 1 item is commonly referred to as the active infestation items.  This means these are problems which have to be immediately addressed.  The reason why people pay attention is because the lender may not fund, if these items are not corrected.  The b...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 One of the most frequent questions that an empty nester asks when they make the attempt to down size is the issue of property taxes.  Typically, the empty nesters will have lived in their current home for many years and have a very low tax base.  When they are ready to downsize, their primary concern is the prospect of a significant increase in their property taxes for a smaller home than the one they are selling.  This can be particularly troublesome in fixed income situations.    But not to fear.  California, being one of the most expensive places in the nation, had passed certain legislations which will protect folks over 55 and give them a one-time opportunity to take their tax base with them.   PROP 60: Allows a homebuyer age 55 years or older to transfer his/her property tax base...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
  When is the best time to invest in real estate?  People ask this all the time.  The real estate market is no different than any other type of market.  You buy when you can get a deal; and you can get a deal, when the supply is greater than demand.  When is this perfect market going to come?  Well, it is already here in many areas of Santa Clara County.  Granted, I am always the first to tell you to buy in the best area that you can possibly afford; this typically means the areas with the best school districts, in my opinion.   However, your rental unit does not necessarily have to have the best school district in order to be in demand, nor be able to build equity as the tenants pay off large portions or most of your mortgage payments.  It depends on the amount of money available for d...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Steve's Dozen Ways to Bring My Sellers More Money   Cultivate your curb appeal.  Some of the best buyers are the most impatient because they need to make a decision fast.  If the view of your house from the street turns them off, they might not even stop.  Shape up your front yard. Take a critical look at the front of your house.  If it's weathered looking, if anything needs repair, or if anything needs to be hauled to the dump - eliminate these problems.  Don't turn your buyers off outside before the inside can turn them on. Never stay in your house with buyers.  Let the agent handle it, and remove yourself.  Remember, the agent has worked for many hours with these potential buyers, knows what they are looking for, and how to work with them.  Let him or her do the job without interfere...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
  Happy Father's Day to all you fathers out there.  Enjoy your day, this is the only one when people pay attention to us. :-)  I will be out today holding an open house but I know there are other fathers out there out and about showing houses to their clients or are clients being shown homes.  Real Estate is tough in that way, isn't it?   Wishing all of you a wonderful day.  And hope to see some of you at dinner tonight. Steve Mun, Silicon Valley Realtorwww.stevemun.com 
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Single Family Market The sales related activity in Campbell seems to be following the county trend: almost a flat line.  Inventory is increasing as we hit the summer months, while the sales related activity seems remain fairly flat for the past 15 months (except for a slight upwardly trend in the past 3 months).  No significant ups and downs like the previous 15 months.      The rising prices continue.  The average annualized price per square foot in Campbell increased to $487.16 for the period ending in May 07, while the period ending in May 06 ended with $474.75.        What about DOM (days on market) and sold/list prices?  The number of days it takes before a home goes into contract fell dramatically in May 07 to 20 days (it was 21 days in May 06), indicating that houses that are des...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
"Who pays for the inspections?"  My starry eyed first time homebuyer asked me.  "It depends on the customary practices of the area."  I replied. "In Sunnyvale, and other parts of Northern Santa Clara County and up the peninsula, sellers will typically pay to have: 1) termite, 2) property, 3) roof and 4) sometimes chimney reports ordered and made available so that the buyers will have the opportunity to see the condition of the home before making an offer."   I explained further:  There is a reason for this beyond making it easier for the buyer.  From the sellers' perspective, the only time that they truly lose control during the selling process is during the contingency period.  During this time, the buyer will have time to make up their minds as to whether to proceed or withdraw with n...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 "What is the API score for the school?"  This particular question gets asked of me more and more now.  Some clients are eliminating certain homes based solely based on these scores.  However, when questioned further as to what the API measures and why it is important, the responses I get vary greatly.  Everyone seems to think it is an important criterion in their home purchasing decision, so I will try to summarize why it is significant and also try to put things into perspective.     What exactly is an API score?  Simply put, the Academic Performance Index (API) measures the academic performance and progress of individual schools and establishes growth targets for future academic improvement.  To accomplish this, the state uses an index which ranges from 200 - 1000.  A school's score ...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
This is a follow up to the previous Heard on the Street post. This little gem received 13 offers after only being on the market for 8 days.  It was listed at $789,000 (consistent with the selling prices in the area) and sold for $858,000 or 9% over list!     A comparable home in the same area, listed by an agent not from the area, was priced at $839,950 (obviously higher that the competition); they were both on the market at the same time.    One was priced right and the other obviously was not; one sold for way over while the other still remains on the market and facing a price reduction.  Who was better represented?   Steve Mun, Silicon Valley Realtorhttp://www.stevemun.com/
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Single Family Market The inventory increased a bit while sales decreased slightly as well.  The market seems to be following a predicable pattern when comparing it to a year earlier.  Not a dramatic  difference between the two Aprils; relatively consistent.  Here in Campbell, the sub-prime market seems to have had little or no effect at all.    DOM (days on market) has been consistently dropping for the past couple of months and now below 30 days, while maintaining the list price at 100%.    The average price per square feet rose to $487 (annualized) for the 12 months ending with April 07, an increase of $6 from the same 12 month period ending with April 06.   Condo/ Town homes Market  Same consistent and seemingly uneventful pattern this month: slight increase in inventory and slight i...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Single Family Market The disparity between the number of homes coming on the market and the homes selling continues to grow as we approach the summer months.  Clearly, the number of homes sold is lower this year compared to last.  The fascinating thing is that despite this disparity and the lower sales numbers, the prices are continuing to rise as we will see (one would expect the opposite).  What does this tell us?  Buyers certainly have a wider selection of properties from which to choose overall, however, there is still competition for the ‘prime choice' properties in great condition and excellent school districts.  Location becomes extremely important in this market place.  Again, depends on where your home is located.....  Why is there a continuation of homes coming on the market o...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
  It is sad, but it has finally happened, a potential client was referred to me who has clearly been deceived and mistreated by a mortgage professional whose job was supposed to provide them with the best product to fit their needs.  Unfortunately, we read about this type of thing in the newspapers but sometimes we get to face them in person.  This particular client was given a Negative Amortization Loan or an Option ARM Loan but the details and the pitfalls were not fully explained to them.   Option ARM was not designed for a regular salaried worker like this prospective client; it was designed more for business owners or commissioned employee like Realtors who  may come into large sums of money or may have stretches with no income.  Consumers sometime have no idea what they are being ...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 It sounds so simple, and it works time and time again, when applied correctly: price the home correctly and it will sell quickly.  Of course, the house has to be in good condition.  But even if the house is not in tip-top condition, pricing it accordingly will make it move.  Here is another example of a nice home that was priced correctly and resulted in multiple offers.  This little gem is located near  Primary Plus Day Care Center in the Campbell district of San Jose.  The house is a normal sized 3 beds 2 bath with a little over 1700 sq. ft. of living space on a 7400 sq. ft. lot (the lot size in this area is a little larger compared to other neighborhoods) for a 49 year old home and it was priced at $789,000.  The house was in good condition with granite counter upgrades in the kitch...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Single Family Market The market seems to be reacting predictably compared to last month.  Coming from increased listing activities and flat sales activities through the past summer and winter months, we are entering the upswing into the spring and summer season.  There is no appreciable difference between March 06 and 07 in the area of homes going into contract (pending).   That is quite surprising, considering all of the brouhaha about the collapse of the sub-prime lending market we all have heard so much about in the past few months.  I suppose that is a testament to Silicon Valley's belief in its robust economy and the shortage of housing.        DOM (days on market) dropped noticeably from last month, while the list/sold ratio continues at 100%.     The average price per square feet...
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