Campbell, CA Real Estate News

By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 I was communicating with a client who has been "gauging" the market by sitting on the sideline and just watching for nearly a year.  He just wrote to me asking about the impact of the sub-prime market on the local market.  In responding to him, I asked him a question about his plan, since we hadn't communicated in a while.    My response was edited to leave out personal detail.Buyer:  I've been hearing a lot about the "crisis" with the sub-prime lenders/borrowers... has that started to effect the market yet?  Negatively?  Positively?  I haven't seen any prices going down recently or a real flurry of activities; just a lot of panic.  Any feedback you can provide would be appreciated.Silicon Valley Realtor:..... I know you are trying to gauge the market and figure out when is the best ti...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 Reminder for everyone.Please remember that the 2nd installment of your property taxes is due by April 10.  If you pay after the aforementioned date, you will incur penalties, so please make sure you take care of this matter, if you have no done so already.  Who wants to pay penalties?    For those of you living in Santa Clara County, if you have any questions, you may  contact the County Tax Assessor's office.   Steve Mun, Silicon Valley Realtorwww.stevemun.com  
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Everyone wants to make money.  How do investors make money in Real Estate?  By using the power of leverage!   Best ways to make money are 1) deferring payment of taxes on your capital gain and 2) taking said tax-deferred money and re-investing it into a larger or more properties, so you can further leverage to gain equity.  This is what is known as a 1031 (IRS code) Deferred Exchange.  As the property is an investment property and not your primary residence, you cannot avoid paying taxes on your gain.  However, because you are able to utilize this IRS code, you can defer (not avoid) paying taxes over and over until you decide at some point to cash out.  There are four basic requirements (simplified for explanatory purposes) to keep in mind when doing a 1031 exchange:•1.      Like kind ...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Earlier today, I wrote about receiving a scam email from Africa promising me $1.9M if I am kind enough to help a minor come into a fortune left by his parents.   All I had to do was provide me with my bank account.  JI get home tonight and turn on the T.V. to see an investigative report on Dateline NBC with Chris Hansen, the same reporter who has been doing exposes on adult predators on the internet.  How apropos; I had to write about this.  Tonight he was tracking down and trapping scam artist conning Americans out of millions of dollars.  One person on the show was relieved of over $70,000 of his own personal money and was in the process of giving up more than another $100,000 of local government money to these people, when he was arrested for embezzlement.  There was a similar story...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
You heard about them on T.V. and you read about them in the newspapers or on the internet, and you wonder (at least I did): do they really think that people will fall for those idiotic scams?  Well, I was the recipient of such a scam spam recently.   Lucky me..... J  In case you are not fortunate enough to have received one, I wanted to share my experience with you.    Here is the email.  This is not the traditional Nigerian scam but an offshoot of it coming from Ivory Coast apparently. Of course the hook for me was that the wealthy African young man is supposed to buy real estate through me and also offer 20% of the $9.5M as compensation for acting as guardian and all in exchange for my bank account information.  What a deal!  Who wouldn't jump at such a sure thing?  Why bother buying ...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Single Family MarketNo dramatic change since last month.  Inventory has increased slightly but the accompanying pended/sold activity also increased in similar increments, following the predicted path from January to February.  Historically, March is when sales activity goes into higher gear in Silicon Valley.  Weather is warmer and more people are out looking for homes.     Interestingly, DOM (days on market) remained hovering at 49 for 3 consecutive months but the sold/list price rose from 98 to 100% for the first time in over 6 months.     The average price per square feet rose to $486 for the 12 months ending with February 07, an increase of $10 from the same 12 month period ending with February 06 ($476).    Previous month's graphs Condo/ Town home Market The results are similar to ...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
I am a data driven guy.  I don't  much care for stories or opinions unless they are supported by supporting good data and graphs and charts.  That is why I am excited that now I can finally use Pending Sales data.  Pending status measures the duration "under contract" or the pre-sold phase of the sales process.  When a house is said to be sold, it first goes into Pending status (typically 30 days) before it can be labeled sold when the deed is recorded.  For our purposes, it is recorded the moment the seller accepts the offer.  This way, we get to see the moment the house is, for all intents and purposes, off the market.  Whereas sold shows us when the deed is recorded, not when it is taken off the market, hence, a more timely measure of the activities in the marketplace.  Single Family...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 The newspapers are at it again, proclaiming that the real estate market gloom and doom headlines like: "February Bay Area Home sales at 11 year low, prices flat."  Trumpeting this bit of news it as if it were the gospel truth.  But look closer at the sub-headline in small print:  But Santa Clara County resale home prices up 4%.  Now why would they put the second part of the headline  in tiny print like they did?  To sell papers through sensationalism!   They are not mis-reporting the news, but rather, they are just focusing their attention on the bad news and down playing the good news (or bad news, depending on whether you are a buyer or seller).  If you read the full article you will learn that not only Santa Clara, but San Mateo and Alameda Counties also enjoyed increase in sales pr...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
  The results are out.  I wrote about a couple of hot properties a few weeks ago on Heard on the Street.  They both have closed, so I can reveal the sold prices now.  The property on 5095 Elmwood was listed at $749,000, it sold in 11 days for $815,000 with 18 offers.  The property on 5119 Yorkton was listed at $750,000, it sold in 6 days for $821,000 with 10 offers.  Both of these homes fit right in the heart of the medium price point for single family homes in this area.    As I mentioned previously, both of these properties are located in Moreland School District, an excellent school system sought out by buyers with young children and were in good condition.  This is not to say that the market condition is like this everywhere in Santa Clara County.  Only those with exceptional school...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Well, well, so far, I've been writing primarily about market conditions and what's heard on the street.  Definitely important and relevant information for the local real estate market, as most would agree, but I'll be the first to admit that it can get pretty dry.  And that is why sometimes it takes me a few days to think up something about which to write.People read blogs (I certainly do) to learn but also to get entertained.  You can only stare at your computer for so long and read about sales volume and dollar figures.  I've been thinking about how to freshen up and liven up the content of my blog for some time now.  The other day, my wife was watching one of her shows and I overheard for the umpteenth time about the crazy antics of Britney Spears and about Anna Nicole Smith's death ...
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By Kip & Tamara Barnard, Broker Assoc., Realtor ASP
(Coldwell Banker)
Join us in Downtown Campbell where local talent creates a fun, festive, and family friendly atmosphere in the monthly First Friday events. As the name suggests, First Fridays are held on the first Fridays of each month and usually feature sidewalk music and other performances. Each month there's a different theme and for each month we're looking for different acts to put on. This Friday its: Luck o' the Irish Fri, Mar 2nd (5:00pm - 9:00pm) at Downtown Campbell Luck o' the Irish, an evening of Celtic music and fun for the whole family!
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By Kip & Tamara Barnard, Broker Assoc., Realtor ASP
(Coldwell Banker)
Please join us June 16, 2007 for the 29th AnnualCampbell Highland Games & Celtic Gathering Held at the Campbell Community Center, Campbell Ave. at Winchester Blvd., in Campbell CA. Click for a map. For more info:http://www.campbellgames.com/Come enjoy the Scottish traditional dancing and events.  (We especially like the Caber Toss and Stone-Put!)Bring your friends and family for this annual tradition.
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
It is imperative that you learn what is happening out in the streets in order to determine what is truly happening out there.  It is often old news, by the time the newspapers pick up on things.  Who get information quicker than the practicing Realtor who is out there with his ears on the ground listening and sometimes participating in the transactions taking place?To give you an idea of what is happening with Campbell Real Estate right now.  There are two starter homes in the 95130 zip code that are in the price point for my client.  One is on Yorkton and the other is on Elmwood.  Yorkton is a 4 bed 2 bath with 1300 sq. ft. on a 6100 sq.ft. lot, while Elmwood is a 3 bed 2 bath with 1250 sq.ft on nearly 8000 sq.ft lot.  Both were listed at or near $750,000 and were in good condition, no...
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By Kip & Tamara Barnard, Broker Assoc., Realtor ASP
(Coldwell Banker)
Come to the Campbell Community center to get the answers to all your questions about your new recycling & solid waste services including:• Recycling-new single streamrecycling program• Oil and Computer Recycling• Green Waste• Garbage• New service begins March 1st, 2007Come to the Community Meeting:February 22nd @ 6 PMCampbell Community CenterThe Roosevelt Redwood RoomOne West Campbell Ave., Q - 80For more info you can call:408.283.9250 or on the web:www.westvalleyrecycles.com 
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
What is an escrow?  Who pays for what during closing?  How should you hold title?  What type of repairs would be good to do before putting a home on the market?  How much unsold inventory is in the marketplace? Real Estate transactions are complex and can overwhelm even the professionals.  You may be ready to put your house on the market and have questions that you want answered before you contact a Realtor, so that you can have a roadmap in your hands.  Or perhaps you are months away not quite ready to buy or sell yet, but have general questions that you would like answered for your edification. There is a safe and comfortable place where you can go and browse for these and other answers to questions you may have.   Information is vital in your decision making process, so go ahead and ...
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By Kip & Tamara Barnard, Broker Assoc., Realtor ASP
(Coldwell Banker)
If you are interested in finding out what your Campbell Home (or any home in Silicon Valley for that matter), we would like to offer you a free, no hassle CMA (comparative market analysis).  Jut follow the link to: www.CampbellHomeValues.com.  Fill out a quick bit of info about the home, and you'll get your home's value right away.  Quick and Easy!If you have any other questions about Campbell, its surrounding cities, or real estate in general, you can contact us at www.KipandTam.com 
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By Kip & Tamara Barnard, Broker Assoc., Realtor ASP
(Coldwell Banker)
February 24th  Citizen of the Year Banquet / Celebrate CampbellThis is the annual event that allows the City of Campbell to show their appreciation to those who have worked to make it the best place to live and work.Time: 6 pm   Location: Villa RagusaPrice: $50 per ticket (contact the Campbell chamber office for more information) 
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By Kip & Tamara Barnard, Broker Assoc., Realtor ASP
(Coldwell Banker)
Boogie On The BayouThis two day event (May19th & 20th) is a premier festival attracting between 50,000 - 60,000 people.  Boogie On The Bayou takes place in Historical Downtown Campbell and brings thousands of people out to enjoy a day in the sun while mixing and mingling with the local Campbell community. 200+ Arts and Crafts BoothsInternational Cuisine featuring Cajun and New Orleans style foodBeer, Wine and SodaKiddie KornerAll American FoodFree Admission & Free Parking
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By Kip & Tamara Barnard, Broker Assoc., Realtor ASP
(Coldwell Banker)
January Sales statistics for Campbell Monthly Closed Sales for:Santa Clara County, for City of CAMPBELLSingle Family Homes, Condo/TownhomesJanuary 2007Single Family Homes:Current Inventory: 51Closed Sales:  20Avg. Price:  $845,868Avg. Days on market:  62Townhomes/Condo:Current Inventory: 32Closed Sales:  13Avg. Price:  $599,894Avg. Days on Market:  37If you have any questions about the local market, or about Campbell in general, you can contact us through the web at: http://www.kipandtam.com/
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
If you are like most people, you read today in the San Jose Mercury an article called Is end near for housing slump?  The article discusses data which points to the number of homes sold in Santa Clara falling below what sold during the same time last year, yet the prices in the county having gone up slightly, blah, blah, blah.....   Nothing really fascinating or new, if you've been following my blog or have been on my website.       In the same issue there was in the business section was an article called Reports predict job growth in Valley.  In my opinion, this is more important and explains better what is causing the housing market to continue to rise in price although the sales volume is dropping.  Human beings tend to be risk adverse by nature.  We do things primarily to avoid pain...
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