While everyone talks about what the newspapers are saying when it comes to Real Estate and generally it’s negative, the newspaper never mentions all the good things that are happening in Santa Clara County. For example…
- Feb. 2009 59%↓ of homes listed were distressed
- Feb. 2010 50%↓ of homes listed were distressed
- Feb. 2011 35%↓ of homes listed are distressed
So, do the numbers and you will see we are down 24%↓ from 2 years ago when it comes to distressed homes for sale!
The other thing is that our inventory while it is slowly climbing as it should at the beginning of the year is still well below normal currently hovering at 2,402 single family homes in Santa Clara County. The absorption rate for pending sales in January 2011 jumped 9% from Dec. 2010 now at 45.6% (meaning 45.6% of the listing went into contract for that month), versus same 2 months a year ago when it dropped 24.9%. The median price increased 2% over same month a year ago, and the amount of homes that went into contract in Jan. 2011 over Jan. 2010 sky rocked by 22%.
So, you have to ask yourself, why doesn’t the media ever talk about this rather than mentioning the County depreciated by 15% as some news channels recently talked about, and failing to note that this happens almost every year in the real estate market. Also, the media failed to tell everyone that Dec. 2010 was one of the top 5 best months for home sales last year. Something to think about for those who think Santa Clara County shuts down in our mild winters.
Should you have any questions or if you know someone who can use my assistance in the Real Estate Market please do not hesitate to call me at 408-655-7900! In the mean time don’t forget to visit www.raymondchavez.com to connect with me on LinkedIn or Facebook!