Cupertino, CA Real Estate News

By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
The following material is taken from my Home Buyer’s Guide which I provide to my buyer clients after our initial Buyer Consultation.  The purpose is to layout the road map for the journey that we all the ‘home buying process” for the first timers and to refresh or re-acquaint veteran buyers who may have simply been out of the market for a long time.  Most of my clients find the material useful and I have yet to encounter anyone who didn’t think it helped them in some way.  I wanted to share this material with the readers of my blog in the hopes that it may help them better understand the process.  Naturally, if there are any questions, about the material or questions in general, please feel free to contact me.                                                     Your Home Buyers Guide  ...
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By John Pinto
(Realty World - John V. Pinto & Associates, Inc.)
I have reviewed the August MLS statistics for Single Family Homes in Cupertino, 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 Cupertino, 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)
 It’s in the news again today.  Registered sex offenders may be forced to move because they live too close to schools or parks.   I wrote recently about parents having the right to know whether registered sex offenders are living in your neighborhood; regretfully, I must say my concerns seem well founded.  Registered sex offenders are prohibited from living within 2000 feet from a school or park: areas where children congregate, according to Jessica’s Law which tracks them.  It seems 2,700 registered felons are in violation of this law and are now being forced to relocate. With 400-700 sexual predators released from prison each month, we must be mindful of the safety of our children.  Know who lives in your neighborhood.      Steve Mun, Silicon Valley Realtor www.stevemun.com  
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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 Cupertino, 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 Cupertino, 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 Leung
(Silicon Valley Real Estate)
Whole Foods in Cupertino moves across the street tomorrow to its new, larger location.  Their corporate press release calls it "Northern California's flagship store."People who have been going to the old location may have also been greeted by a friendly local student who was handing out flyers redirecting people to Whole Foods in Campbell and Los Altos.  The new location at 20955 Stevens Creek Blvd. has their "bread breaking" ceremony on August 22 at 8:45am.  Daily hours are normally 8am to 10pm.
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The housing inventory has continue to climb over the summer in Santa Clara County with 5,950 homes, townhouses and condos on the market as of 8/10/07. This is the highest level of the year and the highest level in the 2000's. There are currently 4.416 single family and 1,534 condos and townhomes on the market.    The Silicon Valley continues to be a tale of two markets.  The Elite School Area Market Characteristics (API Score 850+) Median price is over $1.1 Million: Median Price is up 10% vs 2006 Number closed sales is down slightly (2%) over 2006 Average number of days on market is 34 days (up 47% vs 2006) The  Rest of the Market School Areas Market Characteristics Median Price is under $700,000: Median price is up 1% vs 2006 Number of closed sales is down 28% over 2006 Average days on...
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By Grace Keng, CRS, CDPE (408) 799-8887
(Keller Williams Realty Cupertino)
I took a class by Risk Management Trainer, Robert Brand.  As a realtor we have a duty to disclose all  known facts to the agent materially affecting the value or disability and the seller has to disclose all the know facts. It will be a big surprise to new buyer later on found out the home problems from the neighbors' months. To help seller to disclose the known fact, we could ask the seller: " Is there anything wrong we need to let the buyer know?" It could be the noisy neighbors, backyard sliding , roof leaks, neighborhood crime. Any recurring problems really need to tell the buyer.The risk management is the identificatin and treatment of liability exposures. This is accomplished by 3 options:a). Avoid: Don't jump off from the airplane.b). Reduce: Wear the seat belt in the car.c). Tra...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 After more than 4 years at the same brokerage, I finally made my move to a different brokerage.  It was time for me.  I am no longer a rookie agent who needs the support of a large brokerage with lots of bells and whistles.  Naturally, every company has its own positives and negatives; what I needed was to find a company that fit my style and place in my career at this moment.    I wanted a brokerage that had not only regional but national recognition; yet, I also wanted a brokerage that allowed me to run my business like it was my own without too much input on how I ran it.  After all, that is one of the reasons I came into Real Estate: to be my own boss.  At the end of the day, it is my clients and my work which allow me to feed my family.  If I wanted to charge a little less to comp...
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By Steve Leung
(Silicon Valley Real Estate)
It's not world famous for it's homes or real estate.  Folks outside Silicon Valley know it as the birthplace of the iPhone.  Apple, Symantec, and a very large portion of HP --- to name a few --- call it home.  To locals, Cupertino is synonymous with the school system.  The Cupertino Union School District has 24 elementary and middle schools, 19 of which are ranked by the California Department of Education as 10 out of 10 statewide.  And that doesn't account for the elite Monta Vista High School, as well as Lynbrook High School or Homestead High School (as part of the Fremont Union High School District shared with Sunnyvale and other cities) which all rate 10 out of 10 statewide as well. So, it's not surprising that real estate in the Cupertino part of Silicon Valley would command a prem...
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By Steve Leung
(Silicon Valley Real Estate)
The City of Cupertino would like community assistance in determining their priorities with respect to wireless internet and cell phone service.  The Technology, Information and Communications Commission (TICC) has setup a confidential survey for residents at this URL: http://www.cupertino.org/wireless/This survey is available to anyone who lives or works in Cupertino and the commission is looking for as broad a response as possible.   
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Single Family MarketWe can officially say that market condition in Cupertino is HOT!  Yes, that's a technical term. :-) The only place that is hotter is Palo Alto.  Market conditions in Cupertino and a few other areas are drastically different than other areas in Silicon Valley. It's almost as if saying, market correction: where?  If you've been reading this blog, this news should come as no surprise to you.   Let's just look at what has been happening since January of this year.   In a majority of areas in the Valley, sellers are worried because inventory is increasing and buyers are more selective and taking their time to make choices: a new experience for many (see Santa Clara County and Campbell).  Not here, however.  You still have to move quickly and pay over asking if you want to...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
I have always believed in buying in the best area that you can afford (meaning areas that are centrally located and with great school districts). I know, this is not an original idea but it is true:  location, location, location!  Why should you choose a home in this type of location rather than a more "affordable" area?  Because it is a better value in the long run.  You will have an easier time selling it later and will earn more money.   Let me illustrate this truism for you in the current market.  I will take two areas that are the extreme opposite poles in terms of location and price.  I will provide the data, so you decide which is a better "value" in the end. Morgan Hill/Gilroy  vs. Cupertino  Market Activity  If you were to have put a home on the market in MH/Gilroy, at the end ...
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By Steve Leung
(Silicon Valley Real Estate)
The AMC movie theater at Cupertino Square opened Friday with a noon ribbon-cutting ceremony led by Cupertino Mayor Kris Wang.  Automated movie ticket pods are available in the lobby next to the escalator and you can also purchase tickets at the traditional AMC ticket booth or online.  The new Cupertino Square branding has been deployed throughout the mall.
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By Steve Leung
(Silicon Valley Real Estate)
Progress has been steady and the day's been set.  I confirmed that, beginning Monday of next week, Cupertino Square will be holding several charity events (though they aren't open to the public) leading up to the ribbon cutting at the AMC Cupertino Square 16 movie theater on Friday, April 27.  More information about Cupertino Square...
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By Steve Leung
(Silicon Valley Real Estate)
On cue, our feathered friend hopped up onto the wine barrel and struck a pose.  He was the photogenic one.  A friend of his was laying in the shade preening himself and another went roaming the grounds for bugs, but that wasn't him. No, he'd been following some of the other visitors around the winery but he put on his full strut when he saw the gleam of my camera lens.  Here he was: the side of Cupertino not many people get to see.  Hidden off the rugged Santa Cruz Mountains with Montebello Road carving its winding path, Cupertino is Silicon Valley wine country.  The Ridge at the Top of the MountainThe signs were everywhere and they weren't subtle.  This was also rattlesnake country and people were just visitors.  With a view that stretched well beyond Moffett Field and downtown San Jos...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
Single Family Market   Market conditions in Cupertino is drastically different than other cities in the area.  Nowhere is this more evident than in the performance in the past three months.  While everywhere else, inventory is outpacing sales on any given month (see Campbell and Santa Clara County), this city is actually seeing a reverse: decrease in inventory and increase in sales!   In both February and March of 07, sales activity outpaced the listing activity.  In the past two months, there was actually a shortage of housing (see story).  The inventory from the summer months should be absorbed very soon.       Given it’s higher price-point, the whole sub-prime market hysteria had practically no impact in this city.         DOM (days on market) is on its way down, while the list/sold...
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By Steve Leung
(Silicon Valley Real Estate)
Going up?  Cupertino Square pulled the wraps off the construction they're doing on the AMC theater set to open in April.  Stairway to heaven?  Normally an escalator wouldn't be that interesting, but in this case it's the visual centerpiece of the Vallco revitalization.The entire area had previously been cloistered away behind thick plastic wraps to keep the construction hidden and the corridor free from dust. While the Strike bowling alley still several months away, the automated ticketing kiosks and the ticket booths are already up and new tiles leading to the theater are being installed.People who usually find themselves going to other theaters near Cupertino like the Century San Jose 25 at Westgate Mall, AMC Saratoga 14, or the Century San Jose triplets will find these newer faciliti...
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By Steve Mun, Silicon Valley Realtor
(Keller Williams Silicon Valley)
 The jokes we used to make to each other when I started in the business in 2001 was that soon every 3 bedroom 2 baths would cost a $1 Million dollars and we would all be out of business, because no one would buy homes.  It was supposed to be ironic.    The good thing is we are not all out of business.  Most of the colleagues with whom I started in the business are still here and doing well, thank goodness.   The not so good and not so ironic news is that yes, the typical 3/2 house has hit a $ 1 MILLION DOLLARS!   Hard to believe, isn't it?  But it is true, here in the north western corner of Silicon Valley better known as Cupertino.    I've been writing in this blog about the crazy activities involving multiple offers for homes in the area under the category of heard on the street (stor...
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