| Newsletter 2009 |
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December 2008 Newsletter |
Greetings!
Welcome to Dale Warfel’s December 2008 Newsletter.
Personal News:
Mimi, Johnny, and I wish you a Merry Christmas and a Happy New Year. We hope you take the holiday season to reflect on successes and learning opportunities of the past year, set goals (family, personal, professional, and financial, and spiritual goals) for 2009, and put a plan of action together to increase the likelihood of success in achieving those goals.
We have a new family member! After the untimely demise of our cat Zilla, I heard about a woman who had rescued these kittens born from a feral cat, that had been abandoned. This woman had taken the kittens in and was caring for them until they were old enough for adoption. Johnny and I, after getting the go-ahead from Mimi, picked out a beautiful grey striped Tabby cat. We thought it was a girl, but time proved that assumption wrong! We named the cat Sneakers, and have introduced it to our dog Sasha, a 60 lb terrier mix. You would think the dog would possibly injure the cat. In fact, just the opposite is true. The 4 month old kitten 'owns' the dog, taking over her big pillow bed at will. Sasha and Sneakers get along so well, you might think they had been best buddies since birth. Sasha is about 10 years old!! Johnny treats the cat like a stuffed animal, carrying it around everywhere. This is definitely a wonderful addition to the family.
Professional News:
One of my professional goals for 2009, which carries over from 2008, is to implement the 'Home From Work' program at some local companies. The Home From Work program is sponsored by the California Association of Realtors, and is used as a corporate benefit for employees at the companies who implement it. This program may include any or all of the following services: Free Homebuyer Workshops, Low Cost 1-on-1 Credit Counseling, and Financial Assistance for Homebuyers. I am interested in targeting companies that employ anywhere from 50 - 1000 employees locally. The ideal contact person is either the CEO, President, or Director of Human Resources. If you have that type of a contact and would be willing to introduce me to those persons, please let me know. I will give you all the details on this unique benefits program.
Do You Need A Referral?
If you are needing a referral for a qualified service provider, chances are that I have someone in my database that can help. From a sign maker to a business consultant, from a residential and commercial cleaning company to an estate planning attorney, I have an excellent list of resources. E-mail me at Dale@DaleWarfel.com and let me know how I can assist you.
Looking for a Home? (or What’s Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to: www.DaleWarfel.com and click on the Search the MLS.
COMING SOON!
Beautiful Santa Clara Home near Rivermark
4660 Wilcox Avenue, Santa Clara
3 Bedrooms / 2.5 Bathrooms / Approx. 1,473 Sq. Ft.
This beautiful 2 story home features gorgeous tile floors downstairs, an open kitchen with light wood cabinets and plenty of storage, a low maintenance yard, and is close to Cisco, Mission College, Rivermark and more. This home is scheduled to go on the market on January 2, 2009.
This home will be listed at $645,000.
SALE PENDING!
Tri-Plex 2 Blocks from SJSU
112 N 9th Street, San Jose
- 1 ea - 2 Bed/1 Bath unit
- 2 ea - 1 Bed/1 Bath units
Approx. 1,700 Sq. Ft.
Who says lightning doesn't strike three times! This wonderful, fully occupied triplex provides good cash flow and the potential to have positive cash flow with a reasonable down payment. This property features individual 1 car garages (deep enough to park two small cars in tandem!) for each unit. The kitchen in the two bedroom unit was remodeled with new cabinets and counters last year, and the roof is only 3 years old.
Go to http://dalewarfel.com/ for more details.
SALE PENDING!
Fantastic Value!! 2 Bed/2 Bath Townhome Near Downtown San Jose
2643 Senter Creek Court, San Jose
2 Bedrooms/2 Bathrooms/Approx. 1,146 Sq. Ft.
Tell all your friends...there are affordable homes in San Jose!! This cute and affordable 2 Bed/2 Bath Townhome features an Attached Garage. The Kitchen Appliances and Water Heater are all less than 2 yrs old. Private Patio off Dining Area. Spacious Bedrooms feature Cathedral Ceilings. Community features a beautiful pool and lots of trees. Excellent location, great for commuting, close to Downtown San Jose, new 'The Plant' Shopping Center, and San Jose State University. Low HOA dues ($220/mo).
Go to http://dalewarfel.point2agent.com/San_Jose for details.
SALE PENDING!
4-Plex Near Downtown San Jose
129 Duane Street, San Jose
- 4 ea - 1 Bed/1 Bath units
Approx. 2,111 Sq. Ft.
This 4-plex has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. Rental Income is over $3,800 per month! Tenants pay all utilities (electric, gas, and water).
Go to http://dalewarfel.point2agent.com/San_Jose for details.
SALE PENDING!
Tri-Plex Near Downtown San Jose
125 Duane Street, San Jose
- 1 ea - 3 Bed/1 Bath unit
- 2 ea - 2 Bed/1 Bath units
Approx. 2,368 Sq. Ft.
Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed / 1 bath 'owners' unit and a separate duplex building in the back with two 2 bed/ 1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow -- Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!
Go to http://dalewarfel.point2agent.com/San_Jose for details.
SALE PENDING!
Willow Glen Single Family Home
2622 Meridian Ave., San Jose
3 Bedrooms/2 Bathrooms/Approx. 1,296 Sq. Ft.
This wonderful home features remodeled baths with new fixtures, tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell.
Go to http://dalewarfel.point2agent.com/San_Jose for details.
Thank You:
Thank you to RW A., Ryan L., Tony C., Yvonne T., Joanne F., and Tsegay S. for your referrals.
Market Update
Sales of single-family, re-sale homes in Santa Clara County were up 24.4% in November compared to last year. Month-over-month, sales fell 23.9%. Sales continue to be concentrated in the lower-priced cities such as San Jose where year-over-year sales were up 72.7%, and Gilroy where sales were up 163.2%.
Year-to-date, home sales are off 3.6%.
Home prices continue to be affected by the bank-owned property that has flooded the market.
The median price continued to slide, down 6.9% from October, and off 40% year-over-year.
Inventory dropped 9% from October, down 4.6% compared to November 2007.
The decline in home sales from the month before combined with the rise in inventory sent the Days of Inventory indicator up 59 days to 216 days.
The sales price to list price ratio dropped 0.4 of a point to 97.4%.
Condo sales fell 32% from October, down 19.6% year-over-year.
The median price for condos fell 17.1% month-over-month, and was off 41.2% compared to last November.
Market Snapshot - Santa Clara County |
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Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Nov-08 |
5,290 |
618 |
97.43 |
$637,593 |
59 |
1,282 |
Oct-08 |
5,783 |
816 |
97.82 |
$687,857 |
50 |
1,871 |
Sep-08 |
5,772 |
902 |
97.69 |
$750,359 |
54 |
1,889 |
Aug-08 |
5,963 |
893 |
97.73 |
$848,297 |
49 |
1,820 |
Jul-08 |
6,327 |
894 |
98.42 |
$887,194 |
49 |
2137 |
Jun-08 |
6076 |
927 |
98.28 |
$922,149 |
50 |
1,977 |
May-08 |
6,132 |
873 |
98.29 |
$970,702 |
47 |
2,124 |
Apr-08 |
6,045 |
654 |
98.76 |
$986,194 |
49 |
2,227 |
Mar-08 |
5,522 |
583 |
98.94 |
$984,325 |
55 |
2,051 |
Feb-08 |
5,068 |
424 |
98.20 |
$988,772 |
58 |
1,855 |
Jan-08 |
4,563 |
337 |
97.13 |
$1,005,253 |
59 |
1,629 |
Dec-07 |
4,163 |
490 |
98.16 |
$998,788 |
54 |
946 |
Sep-07 |
4,875 |
506 |
99.83 |
$1,079,868 |
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
$1,065,282 |
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
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Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Nov-08 |
1,791 |
185 |
97.71 |
$365,676 |
59 |
436 |
Oct-08 |
1,921 |
272 |
98.36 |
$412,242 |
57 |
573 |
Sep-08 |
1,948 |
266 |
97.54 |
$425,590 |
55 |
617 |
Aug-08 |
1,997 |
290 |
97.29 |
$448,027 |
57 |
643 |
Jul-08 |
2,024 |
288 |
98.07 |
$501,877 |
51 |
657 |
Jun-08 |
2,008 |
242 |
99.04 |
$521,677 |
46 |
660 |
May-08 |
2,022 |
252 |
97.84 |
$527,957 |
50 |
691 |
Apr-08 |
1,955 |
220 |
97.99 |
$526,158 |
56 |
734 |
Mar-08 |
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
Feb-08 |
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
| Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
| Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
| Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
| Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
| Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
| Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
| Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
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For your requirements in buying or selling properties in San Jose, especially in the communities of Almaden Valley and Willow Glen, contact me via email at: Dale@DaleWarfel.com or on the phone: 408.624.6202
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November 2008 Newsletter |
Greetings!
Welcome to Dale Warfel’s November 2008 Newsletter.
Personal News:
Johnny graduated from his starter bicycle to his larger BMX style bicycle without training wheels. What started out last month as a ride 4 houses long has amazingly stretched into going around the block without stopping, then off to the 'chicken farm', a local county park with a few chickens about 1/4 mile from home, with either Mimi or me jogging alongside to make sure he doesn't crash. He had a couple minor spills, but he got right back up and took off again after getting a hug. We are definitely feeling it in our legs! We will be heading out of town to visit Mimi's folks for Thanksgiving. Our family's best wishes go out to you and your loved ones and hope that, no matter what may be happening in your lives to the contrary, that this season offers you an opportunity to reflect and be thankful for the blessings you have been given.
Professional News:
Have you ever felt uncomfortable when visiting somewhere for the first time? Perhaps you didn't know the local customs or where to find the best restaurants, or even to find someone you could trust. Now imagine you are relocating to a new area, perhaps on a job transfer, and you are going to search for a home. How do you choose the Realtor you can trust? An open house? The Newspaper? Being on Page 1 of your favorite search engine results? Experience has shown that a personal recommendation is one of the best, most predictable methods to ensure you get a quality product or service. Since a successful real estate transaction has so much to do with the agent that represents YOU, it is critical that you have an agent that is experienced, resourceful, and of high integrity, putting your interests above his or her own. If you or anyone you know is considering buying real estate out of the area, either to relocate or for investment purposes, be sure to contact me first. I belong to many real estate networks whose members span the 50 states and Canada. I help my long distance clients find an agent who, along with being exceptional in their profession, is compatible with the client's personality, helping to ensure that the process of finding a home is as stress free as possible.
Do You Need A Referral?
If you are needing a referral for a qualified service provider, chances are that I have someone in my database that can help. From a landscaper to an house painter, from an general contractor to an pest inspector, I have an excellent list of resources. E-mail me at Dale@DaleWarfel.com and let me know how I can assist you.
Looking for a Home? (or What’s Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to: www.DaleWarfel.com and click on the Search the MLS.
Listing Sold!
South San Jose Townhome
604 Hermes Ct., San Jose
3 Bedrooms/2 Bathrooms/Approx 1496 Sq. Ft.
I had the opportunity to help wonderful young family with the purchase of their first home, a bank-owned property. Tung and Yvonne were a pleasure to work with, from the first time we met until now! We negotiated with the bank to ensure necessary repairs were completed, credits for other repairs were given, and the transaction went smoothly and closed on time! Thank you, Tung and Yvonne!
Price Reduced!
Tri-Plex 2 Blocks from SJSU
112 N 9th Street, San Jose
- 1 ea - 2 Bed/1 Bath unit
- 2 ea - 1 Bed/1 Bath units
Approx. 1,700 Sq. Ft.
Who says lightning doesn't strike three times! This wonderful, fully occupied triplex provides good cash flow and the potential to have positive cash flow with a reasonable down payment. This property features individual 1 car garages (deep enough to park two small cars in tandem!) for each unit. The kitchen in the two bedroom unit was remodeled with new cabinets and counters last year, and the roof is only 3 years old.
The price of this property has been reduced to $439,000.
Go to http://dalewarfel.com/ for more details.
FOR SALE!
Stunning Saratoga Home with Swimming Pool on Huge 10,200+ Sq. Ft. Lot
12874 Lantana Avenue, Saratoga
4 Bedrooms/3 Bathrooms/Approx. 2078 Sq. Ft.
If you have been dreaming of a gorgeous home with a Saratoga address, this one could be for you. Sitting on a huge 10,200+ sq. ft lot, this lovely 4 bedroom, 3 Bath home has the character and charm you would expect. Situated on a quiet street, this beautiful home offers a west facing entrance, and features an updated kitchen and master bath, gleaming hardwood floors, and spacious living and family rooms.
In the mornings, open the French doors from your kitchen onto the large, private rustic brick patio, where you can enjoy the fresh morning air while sipping your morning coffee and reading the paper or a good book. After work, take a load off by taking a dip in the large swimming pool. If you work from home (or have extra guests), you can utilize the extra living space in the back of the oversized 2-car detached garage featuring an additional two rooms and another full bath (these two rooms and bath are not included in the square footage of the home).
The price of this property has been reduced to $1,029,999.
Go to http://www.12874LantanaAve.com for details.
SALE PENDING!
Fantastic Value!! 2 Bed/2 Bath Townhome Near Downtown San Jose
2643 Senter Creek Court, San Jose
2 Bedrooms/2 Bathrooms/Approx. 1,146 Sq. Ft.
Tell all your friends...there are affordable homes in San Jose!! This cute and affordable 2 Bed/2 Bath Townhome features an Attached Garage. The Kitchen Appliances and Water Heater are all less than 2 yrs old. Private Patio off Dining Area. Spacious Bedrooms feature Cathedral Ceilings. Community features a beautiful pool and lots of trees. Excellent location, great for commuting, close to Downtown San Jose, new 'The Plant' Shopping Center, and San Jose State University. Low HOA dues ($220/mo).
Go to http://dalewarfel.point2agent.com/San_Jose for details.
SALE PENDING!
4-Plex Near Downtown San Jose
129 Duane Street, San Jose
- 4 ea - 1 Bed/1 Bath units
Approx. 2,111 Sq. Ft.
This 4-plex has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. Rental Income is over $3,800 per month! Tenants pay all utilities (electric, gas, and water).
Go to http://dalewarfel.point2agent.com/San_Jose for details.
SALE PENDING!
Tri-Plex Near Downtown San Jose
125 Duane Street, San Jose
- 1 ea - 3 Bed/1 Bath unit
- 2 ea - 2 Bed/1 Bath units
Approx. 2,368 Sq. Ft.
Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed / 1 bath 'owners' unit and a separate duplex building in the back with two 2 bed/ 1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow -- Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!
Go to http://dalewarfel.point2agent.com/San_Jose for details.
SALE PENDING!
Willow Glen Single Family Home
2622 Meridian Ave., San Jose
3 Bedrooms/2 Bathrooms/Approx. 1,296 Sq. Ft.
This wonderful home features remodeled baths with new fixtures, tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell.
Go to http://dalewarfel.point2agent.com/San_Jose for details.
Thank You:
Thank you to RW A. Tony C., Tony D., Madhu N. and Wendy J. for your referrals.
Market Update
Sales of single-family, re-sale homes in Santa Clara County were up 44.7% in October compared to last year. Month-over-month, sales fell 11.3%. Sales continue to be concentrated in the lower-priced cities such as San Jose where year-over-year sales were up 99.6%, and Gilroy where sales were up 372.7%.
Home prices continue to be affected by the bank-owned property that has flooded the market.
The median price continued to slide, down 7.8% from September, and off 35.8% year-over-year.
Inventory stayed virtually flat from September, and down 12.1% compared to October 2007.
Condo sales fell 6.2% from September, and were down 19% year-over-year.
The median price for condos, on the other hand, rose 5.3% month-over-month, but was off 28% compared to last October.
If you are in escrow with one of the new higher-limit, conforming loans, or you expect to buy a home before the end of the year, remember, the new, higher conforming loan limit of $729,750 expires at the end of the year. You must have your loan funded by then. Starting January 1st, the conforming loan limit will be $625,000.
Market Snapshot - Santa Clara County |
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|
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Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Oct-08 |
5,783 |
816 |
97.82 |
$687,857 |
50 |
1,871 |
Sep-08 |
5,772 |
902 |
97.69 |
$750,359 |
54 |
1,889 |
Aug-08 |
5,963 |
893 |
97.73 |
$848,297 |
49 |
1,820 |
Jul-08 |
6,327 |
894 |
98.42 |
$887,194 |
49 |
2137 |
Jun-08 |
6076 |
927 |
98.28 |
$922,149 |
50 |
1,977 |
May-08 |
6,132 |
873 |
98.29 |
$970,702 |
47 |
2,124 |
Apr-08 |
6,045 |
654 |
98.76 |
$986,194 |
49 |
2,227 |
Mar-08 |
5,522 |
583 |
98.94 |
$984,325 |
55 |
2,051 |
Feb-08 |
5,068 |
424 |
98.20 |
$988,772 |
58 |
1,855 |
Jan-08 |
4,563 |
337 |
97.13 |
$1,005,253 |
59 |
1,629 |
Dec-07 |
4,163 |
490 |
98.16 |
$998,788 |
54 |
946 |
Sep-07 |
4,875 |
506 |
99.83 |
$1,079,868 |
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
$1,065,282 |
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Oct-08 |
1,921 |
272 |
98.36 |
$412,242 |
57 |
573 |
Sep-08 |
1,948 |
266 |
97.54 |
$425,590 |
55 |
617 |
Aug-08 |
1,997 |
290 |
97.29 |
$448,027 |
57 |
643 |
Jul-08 |
2,024 |
288 |
98.07 |
$501,877 |
51 |
657 |
Jun-08 |
2,008 |
242 |
99.04 |
$521,677 |
46 |
660 |
May-08 |
2,022 |
252 |
97.84 |
$527,957 |
50 |
691 |
Apr-08 |
1,955 |
220 |
97.99 |
$526,158 |
56 |
734 |
Mar-08 |
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
Feb-08 |
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
| Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
| Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
| Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
| Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
| Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
| Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
| Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
|
For your requirements in buying or selling properties in San Jose, especially in the communities of Almaden Valley and Willow Glen, contact me via email at: Dale@DaleWarfel.com or on the phone: 408.624.6202
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| Previous |
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October 2008 Newsletter |
Greetings!
Welcome to Dale Warfel’s October 2008 Newsletter.
Personal News:
Johnny has experienced life without training wheels, and he's not going back! This past weekend, Mimi and Johnny visited his Nana and Papa, where his Uncle Tim took the training wheels off of his starter bicycle. Wobbly at first, he quickly started to get the hang of 'two wheeling'. By Tuesday, he was pedaling full speed with me running along side to avert potential disasters (of which there were two). Now he just needs to get the turning down and he will be off to the races!
Professional News:
I have updated my web site, www.DaleWarfel.com. Please take a look when you get the chance and let me know how you like the changes. I will be updating and adding content to this site regularly, so check back often to see what's new! Thanks in advance for your support.
Bank owned properties and short sales present an excellent opportunity to get an exceptional price on a property. In September, over 30% of the closed escrows were either short sales or bank owned properties in Santa Clara County. In the same month, the average sales price dropped in the county nearly $98,000 from August. Short sales typically stay on the market longer than bank owned homes because the process for lender approval can be lengthy, taking from 1 - 3 months in many cases. Because of that, many buyers agents avoid short sales because of the hassle. As the properties sit on the market without offers, the banks tend to be more 'flexible' in the price they are willing to accept, thus offering buyers an opportunity to save significantly on the purchase price, if they are willing to be patient. In a short sale, the seller (i.e. the seller's lender) typically does not do their own inspections, does NOT credit buyer's closing costs, does NOT pay for a buyer's home warranty, and does NOT pay for repairs or give Section 1 clearance (repair or treatment for wood destroying pest damage/infection). The owner's lender does pay ordinary and typical closing costs for the seller, along with clearing any liens on the property (i.e. provide clean title) at time of sale.
Do You Need A Referral?
If you are needing a referral for a qualified service provider, chances are that I have someone in my database that can help. From a residential/commercial cleaning company to an internet marketing company, from an investment broker to an estate planning attorney, I have an excellent list of resources. E-mail me at Dale@DaleWarfel.com and let me know what you are needing.
Looking for a Home? (or What’s Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to: http://advisormls.com/Advisor?operation=search&key=11876785849682
JUST LISTED!
Tri-Plex 2 Blocks from SJSU
112 N 9th Street, San Jose
- 1 ea - 2 Bed/1 Bath unit
- 2 ea - 1 Bed/1 Bath units
Approx. 1,700 Sq. Ft.
Who says lightning doesn't strike three times! This wonderful, fully occupied triplex provides good cash flow and the potential to have positive cash flow with a reasonable down payment. This property features individual 1 car garages (deep enough to park two small cars in tandem!) for each unit. The kitchen in the two bedroom unit was remodeled with new cabinets and counters last year, and the roof is only 3 years old.
This investment property is priced to sell at $479,000.
Go to http://dalewarfel.com/ for more details.
FOR SALE!
Stunning Saratoga Home with Swimming Pool on Huge 10,200+ Sq. Ft. Lot
12874 Lantana Avenue, Saratoga
4 Bedrooms/3 Bathrooms/Approx. 2078 Sq. Ft.
If you have been dreaming of a gorgeous home with a Saratoga address, this one could be for you. Sitting on a huge 10,200+ sq. ft lot, this lovely 4 bedroom, 3 Bath home has the character and charm you would expect. Situated on a quiet street, this beautiful home offers a west facing entrance, and features an updated kitchen and master bath, gleaming hardwood floors, and spacious living and family rooms.
In the mornings, open the French doors from your kitchen onto the large, private rustic brick patio, where you can enjoy the fresh morning air while sipping your morning coffee and reading the paper or a good book. After work, take a load off by taking a dip in the large swimming pool. If you work from home (or have extra guests), you can utilize the extra living space in the back of the oversized 2-car detached garage featuring an additional two rooms and another full bath (these two rooms and bath are not included in the square footage of the home).
The price of this property has been reduced to $1,029,999.
Go to http://www.12874LantanaAve.com for details.
JUST REDUCED!
Fantastic Value!! 2 Bed/2 Bath Townhome Near Downtown San Jose
2643 Senter Creek Court, San Jose
2 Bedrooms / 2 Bathrooms / Approx. 2078 Sq. Ft.
Tell all your friends...there are affordable homes in San Jose!! This cute and affordable 2 Bed/2 Bath Townhome features an Attached Garage. The Kitchen Appliances and Water Heater are all less than 2 yrs old. Private Patio off Dining Area. Spacious Bedrooms feature Cathedral Ceilings. Community features a beautiful pool and lots of trees. Excellent location, great for commuting, close to Downtown San Jose, new 'The Plant' Shopping Center, and San Jose State University. Low HOA dues ($220/mo).
The price of this property has been reduced to $242,499.
Go to http://dalewarfel.point2agent.com/San_Jose for details.
PRICE REDUCED!
4-Plex Near Downtown San Jose
129 Duane Street, San Jose
- 4 ea - 1 Bed/1 Bath units
Approx. 2,111 Sq. Ft.
This 4-plex has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. Rental Income is over $3,800 per month! Tenants pay all utilities (electric, gas, and water).
The price of this property has been reduced to $540,000.
Go to http://dalewarfel.point2agent.com/San_Jose/California for more details.
BACK ON THE MARKET/PRICE REDUCED!
Tri-Plex Near Downtown San Jose
125 Duane Street, San Jose
- 1 ea - 3 Bed/1 Bath unit
- 2 ea - 2 Bed/1 Bath units
Approx. 2,368 Sq. Ft.
Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed / 1 bath 'owners' unit and a separate duplex building in the back with two 2 bed/ 1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow - Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!
The price of this property has been reduced to $510,000.
Go to http://dalewarfel.point2agent.com/San_Jose/California for more details.
SALE PENDING!
Willow Glen Single Family Home
2622 Meridian Ave., San Jose
3 Bedrooms / 2 Bathrooms / Approx. 1,296 Sq. Ft.
This wonderful home features remodeled baths with new fixtures, tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell.
The price of this property has been reduced to $439,000.
Go to http://dalewarfel.point2agent.com/San_Jose/California for more details.
Thank You:
Thank you to Indu J., RW A. Tony C., Ted E. and Madhu N. for your referrals.
Market Update
Sales of single-family, re-sale homes were 75.9% higher than last September. This is the third month in a row that home sales have been higher than the year before, and is a harbinger of a market bottoming out.
Prices, on the other hand, continued falling, with the median price off 29.5% year-over-year.
Inventory was down 2.7% from last September. This is the first time inventory has declined year-over-year since August 2005.
The rise in sales combined with the decline in inventory pushed our Days of Inventory indicator down to 157 days. In a balanced market, the supply of homes is usually around five to six months.
We expect statistical prices to continue declining as we work our way through the glut of bank-owned properties on the market.
The large number of bank-owned home sales is skewing statistical prices downward. Notices of default filed in Santa Clara County had been dropping, month-to-month, since May. But, in August, notices were up 5% from the month before. The reason why is still unclear and it may be an anomaly because of recent legal changes. The August number may be a bit inflated, said Sean O'Toole, founder of ForeclosureRadar.com, based in Discovery Bay.
'There might have been a push in August to get defaults filed before the new notification requirements were put into place,' he said, referring to provisions of California Senate Bill 1137. Signed by Gov. Arnold Schwarzenegger in early July, the law requires lenders to contact borrowers in person and give them 30 days notice that they intend to begin foreclosure proceedings. The new requirements went into effect the middle of September.
Market Snapshot - Santa Clara County |
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|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Sep-08 |
5,772 |
902 |
97.69 |
$750,359 |
54 |
1,889 |
Aug-08 |
5,963 |
893 |
97.73 |
$848,297 |
49 |
1,820 |
Jul-08 |
6,327 |
894 |
98.42 |
$887,194 |
49 |
2137 |
Jun-08 |
6076 |
927 |
98.28 |
$922,149 |
50 |
1,977 |
May-08 |
6,132 |
873 |
98.29 |
$970,702 |
47 |
2,124 |
Apr-08 |
6,045 |
654 |
98.76 |
$986,194 |
49 |
2,227 |
Mar-08 |
5,522 |
583 |
98.94 |
$984,325 |
55 |
2,051 |
Feb-08 |
5,068 |
424 |
98.20 |
$988,772 |
58 |
1,855 |
Jan-08 |
4,563 |
337 |
97.13 |
$1,005,253 |
59 |
1,629 |
Dec-07 |
4,163 |
490 |
98.16 |
$998,788 |
54 |
946 |
Sep-07 |
4,875 |
506 |
99.83 |
$1,079,868 |
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
$1,065,282 |
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Sep-08 |
1,948 |
266 |
97.54 |
$425,590 |
55 |
617 |
Aug-08 |
1,997 |
290 |
97.29 |
$448,027 |
57 |
643 |
Jul-08 |
2,024 |
288 |
98.07 |
$501,877 |
51 |
657 |
Jun-08 |
2,008 |
242 |
99.04 |
$521,677 |
46 |
660 |
May-08 |
2,022 |
252 |
97.84 |
$527,957 |
50 |
691 |
Apr-08 |
1,955 |
220 |
97.99 |
$526,158 |
56 |
734 |
Mar-08 |
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
Feb-08 |
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
| Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
| Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
| Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
| Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
| Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
| Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
| Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
For your requirements in buying or selling properties in San Jose, especially in the communities of Almaden Valley and Willow Glen, contact me via email at: Dale@DaleWarfel.com or on the phone: 408.624.6202
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September 2008 Newsletter |
Greetings!
Welcome to Dale Warfel’s September 2008 Newsletter.
Personal News:
Life has seemed to pick up a bit now that Johnny has started kindergarten. We have been doing homework in the evenings, and he really enjoys reading. A friend of ours told us about the Magic Treehouse book series. They are a wonderful collection of stories with the main characters, Jack and Annie, traveling through time to visit fascinating places, like the land of the dinosaurs and ancient Egypt. There are 30+ books in the series, so we are just getting started on our journey. Johnny really looks forward to reading time with Mom and Dad now!
Professional News:
It’s a great time to buy!! Don’t just listen to me! In my Market Update section, there is a link to an interview by Diane Sawyer with Donald Trump. If you haven’t heard it, I would definitely recommend you check it out. If you are considering moving up to a larger home or a better neighborhood, this could be the best time in a long time to make that move.
I highly recommend that you should, when buying a home, hire your own inspectors to check out the condition of a property as part of your investigation of property condition. On a current transaction where I represent the buyer, 2 pest inspectors hired by the seller and seller’s agent missed a significant property defect, which was discovered by our inspector. When hiring inspection companies, or any service provider, get a referral from someone who has used the service provider in the past. I have a large list of such service providers. Let me know if I may be of assistance.
Do You Need A Referral?
If you are needing a referral for a qualified service provider, chances are that I have someone in my database that can help. From a handyman to a general contractor, from a business coach to an insurance agent, I have an excellent list of resources. Email me at Dale@DaleWarfel.com and let me know what you are needing.
Looking for a Home? (or What’s Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to:
http://advisormls.com/Advisor?operation=search&key=11876785849682
JUST LISTED!
Fantastic Value!! 2 Bed/2 Bath Townhome Near Downtown San Jose
2643 Senter Creek Court, San Jose
2 Bedrooms/2 Bathrooms/Approx. 1146 Sq. Ft.
Tell all your friends...there are affordable homes in San Jose!! This cute and affordable 2 Bed/2 Bath Townhome features an Attached Garage. The Kitchen Appliances and Water Heater are all less than 2 yrs old. Private Patio off Dining Area. Spacious Bedrooms feature Cathedral Ceilings. Community features a beautiful pool and lots of trees. Excellent location, great for commuting, close to Downtown San Jose, new 'The Plant' Shopping Center, and San Jose State University. Low HOA dues ($220/mo).
This property is listed at $299,000.
Go to http://dalewarfel.point2agent.com/San Jose for more details.
PRICE REDUCED!
Stunning Saratoga Home with Swimming Pool on Huge 10,200+ Sq. Ft. Lot
12874 Lantana Avenue, Saratoga
4 Bedrooms/3 Bathrooms/Approx. 2078 Sq. Ft.
If you have been dreaming of a gorgeous home with a Saratoga address, this one could be for you. Sitting on a huge 10,200+ sq. ft lot, this lovely 4 bedroom, 3 Bath home has the character and charm you would expect. Situated on a quiet street, this beautiful home offers a west facing entrance, and features an updated kitchen and master bath, gleaming hardwood floors, and spacious living and family rooms.
In the mornings, open the French doors from your kitchen onto the large, private rustic brick patio, where you can enjoy the fresh morning air while sipping your morning coffee and reading the paper or a good book. After work, take a load off by taking a dip in the large swimming pool. If you work from home (or have extra guests), you can utilize the extra living space in the back of the oversized 2-car detached garage featuring an additional two rooms and another full bath (these two rooms and bath are not included in the square footage of the home).
The price of this property has been reduced to $1,029,999.
Go to http://www.12874LantanaAve.com for details.
BACK ON THE MARKET!
4-Plex Near Downtown San Jose
129 Duane Street, San Jose
- 4 ea - 1 Bed/1 Bath units
Approx. 2,111 Sq. Ft.
This 4-plex has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. Rental Income is over $3,800 per month! Tenants pay all utilities (electric, gas, and water).
This price of this property has been reduced to for $589,500.
Go to http://dalewarfel.point2agent.com/San_Jose for details.
SALE PENDING!
Tri-Plex Near Downtown San Jose
125 Duane Street, San Jose
- 1 ea - 3 Bed/1 Bath unit
- 2 ea - 2 Bed/1 Bath units
Approx. 2,368 Sq. Ft.
Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed / 1 bath 'owners' unit and a separate duplex building in the back with two 2 bed/ 1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow - Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!
Go to http://dalewarfel.point2agent.com/San_Jose/California for more details.
SALE PENDING!
Willow Glen Single Family Home
2622 Meridian Ave., San Jose
3 Bedrooms/2 Bathrooms/Approx. 1,296 Sq. Ft.
This wonderful home features remodeled baths with new fixtures, tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell.
Go to
http://dalewarfel.point2agent.com/San_Jose/California for more details.
Thank You:
Thank you to Ted E., Nick I., Tony C, Tony D., Walt M., Raechel G., and Brian C. for your referrals.
Market Update
Sales of single-family, re-sale homes in Santa Clara County rose, year-over-year, for the second month in a row, after 43 straight months of year-over-year declines.
Homes sales were up 14% compared to August 2007.
Home prices, on the other hand, continue to be affected by the bank-owned property that has flooded the market.
The median price for homes in the county dropped 8.7% from July and was off 24.2% year-over-year.
The average price for homes was off 4.3% month-over-month, and down 21.7% compared to July 2007.
Remember, these are statistical prices and they are being skewed downward dramatically by the large number of bank-owned properties being sold.
When the market was rising, statistical prices were skewed upward by the feeding frenzy that went on.
Condo and townhome sales continue to be weak. Why buy a condo/townhome when you can buy a reduced price, bank-owned single-family home?
Condo and townhome sales were off 14.3% year-over-year. The median price was down 22.6% for the same period, while the average price fell 21.2%.
On a positive note, the California Association of REALTORS® reported that affordability in Santa Clara County went from 21% in the second quarter of 2007 to 33% in the second quarter of this year.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, please call or e-mail me at Dale@DaleWarfel.com
On August 12th, Donald Trump was interviewed on Good Morning America about the real estate market. To see the video, click on the following link: http://abcnews.go.com/Video/playerIndex?id=5562780.
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Market Snapshot - Santa Clara County |
|
|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Aug-08 |
5,963 |
893 |
97.73 |
$848,297 |
49 |
1,820 |
Jul-08 |
6,327 |
894 |
98.42 |
$887,194 |
49 |
2137 |
Jun-08 |
6076 |
927 |
98.28 |
$922,149 |
50 |
1,977 |
May-08 |
6,132 |
873 |
98.29 |
$970,702 |
47 |
2,124 |
Apr-08 |
6,045 |
654 |
98.76 |
$986,194 |
49 |
2,227 |
Mar-08 |
5,522 |
583 |
98.94 |
$984,325 |
55 |
2,051 |
Feb-08 |
5,068 |
424 |
98.20 |
$988,772 |
58 |
1,855 |
Jan-08 |
4,563 |
337 |
97.13 |
$1,005,253 |
59 |
1,629 |
Dec-07 |
4,163 |
490 |
98.16 |
$998,788 |
54 |
946 |
Sep-07 |
4,875 |
506 |
99.83 |
$1,079,868 |
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
$1,065,282 |
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Aug-08 |
1,997 |
290 |
97.29 |
$448,027 |
57 |
643 |
Jul-08 |
2,024 |
288 |
98.07 |
$501,877 |
51 |
657 |
Jun-08 |
2,008 |
242 |
99.04 |
$521,677 |
46 |
660 |
May-08 |
2,022 |
252 |
97.84 |
$527,957 |
50 |
691 |
Apr-08 |
1,955 |
220 |
97.99 |
$526,158 |
56 |
734 |
Mar-08 |
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
Feb-08 |
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
| Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
| Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
| Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
| Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
| Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
| Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
| Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
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For your requirements in buying or selling properties in San Jose, especially in the communities of Almaden Valley and Willow Glen, contact me via email at: Dale@DaleWarfel.com or on the phone: 408.624.6202
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August 2008 Newsletter |
Greetings!
Welcome to Dale Warfel’s August 2008 Newsletter.
Personal News:
We have been busy getting our son, John, ready for his first day of Kindergarten. At first he was a bit apprehensive about going to school, but he is excited about starting school this week
Professional News:
I have been working on several Short Sale listings over the past few months (a Short Sale is where Seller owes more than the market value of the property, with the bank accepting less than payment in full at close of escrow). Successful negotiation of a short sale requires complete documentation from the seller, including a documented hardship. If the short sale 'package' being submitted to the lender(s) is incomplete, the lenders may never respond to the short sale. It also requires ongoing communications with the banks. I continue to be encouraged at how much many lenders are willing to reduce the loan balances in a short sale in order to avoid a foreclosure. If you know someone who is having financial challenges and may be thinking about just letting the bank foreclose on the property, I would highly recommend that you have them contact me. Better yet, please forward me their contact information. A far better solution may be available to them.
Do You Need A Referral?
If you are needing a referral for a qualified service provider, chances are that I have someone in my database that can help. From a financial planner to a house painter, from an interior decorator to a chiropractor, I have an excellent list of resources. Email me at Dale@DaleWarfel.com and let me know what you are needing.
Looking for a Home? (or What’s Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to: http://advisormls.com/Advisor?operation=search&key=11876785849682
COMING SOON!
Stunning Saratoga Home with Swimming Pool on 10,000+ Sq. Ft. Lot
12874 Lantana Avenue, Saratoga
4 Bedrooms/3 Bathrooms/Approx. 2078 Sq. Ft.
If you have been dreaming of a gorgeous Saratoga home, this one could be for you. Sitting on a huge 10,000+ sq. ft lot, this lovely 4 bedroom, 3 Bath home has the character and charm you would expect in Saratoga. Situated on a quiet street, this beautiful home features an updated kitchen and master bath, gleaming hardwood floors, and spacious living and family rooms.
In the mornings, open the French doors from your kitchen onto the large, rustic brick patio, where you can enjoy a hot cup of coffee and the fresh morning air while reading the morning paper or a good book. After work, take a load off by taking a dip in the large swimming pool. If you work from home (or have extra guests), you can utilize the extra living space in the back of the oversized detached garage featuring an additional two rooms and another full bath (these two rooms and bath are not included in the square footage of the home). See the pictures below for a glimpse of this beautiful home. More information and photos are coming soon.
Go to http://dalewarfel.point2agent.com/Saratoga for more details.
JUST LISTED!
South San Jose Townhome
2643 Senter Creek Court, San Jose
2 Bedrooms/2 Bathrooms/Approx. 1146 Sq. Ft.
Are you or someone you know looking for an affordable first home with a lot of features? If so, this cute, updated 2 bed/2 bath townhome could be the perfect solution! The major kitchen appliances and water heater are all less than 2 years old. This home features a living room/ dining room combo with a nice wood burning fireplace. Enjoy the cool evening air outside on your private patio off the dining area. The two large bedrooms feature vaulted ceilings. An attached garage and inside laundry are features typically offered with homes costing much more. The tree-lined community features a gated swimming pool and offers low HOA dues ($220/month)
The asking price for this home is only $365,000.
Go to http://dalewarfel.point2agent.com/San_Jose/California/ for details.
PRICE REDUCED AGAIN!
Tri-Plex Near Downtown San Jose
125 Duane Street, San Jose
- 1 ea - 3 Bed/1 Bath unit
- 2 ea - 2 Bed/1 Bath units
Approx. 2,368 Sq. Ft.
Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed/1 bath 'owners' unit and a separate duplex building in the back with two 2 bed/1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow - Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!
The price of this property has been reduced to $558,150.
Go to http://dalewarfel.point2agent.com/San_Jose for details.
PRICE REDUCED!
Willow Glen Single Family Home
2622 Meridian Ave., San Jose
3 Bedrooms/2 Bathrooms/Approx. 1,296 Sq. Ft.
This wonderful home features remodeled baths with new fixtures, tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell. Did I mention copper plumbing??
SALE PENDING!
4-Plex Near Downtown San Jose
129 Duane Street, San Jose
- 4 ea - 1 Bed/1 Bath units
Approx. 2,111 Sq. Ft.
This property is next door to 125 Duane street. This 4-plex also has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. These units also feature ceiling fans in each bedroom. Cash flow is over $3,900 per month!
This price of this property has been reduced to $634,500.
Go to http://dalewarfel.point2agent.com/San_Jose/California for more details.
SOLD!
Sunnyvale Condo
905 Sunrose Terrace #104, Sunnyvale
2 Bedrooms/2 Bathrooms/Approx. 1,086 Sq. Ft.
Thank You:
Thank you to Ted E., Nick I., Tony C., Betty C., Julie O., and Paul B. for your referrals.
Market Update
Sales of single-family, re-sale homes were up 1.5% year-over-year. That is the first time sales have been up year-over-year since November 2004. Nevertheless, home sales year-to-date are off 19.8%.
Prices continue to be depressed as we work our way through the bank-owned properties. The median price for homes was down 4.5% from June and off 16.3% compared to last July.
Inventory rose 2.8% in July, pushing our Days of Inventory indicator up twelve days to 178. In a stable market, a six months supply of homes is normal, so, we're right in that area.
Condo sales were up 19% in July from June, but were off 25.6% year-over-year.
The median price for condos gained 6.3% from June, off 9.3% compared to last July.
Condo inventory rose 0.9% month-over-month, and was up 10.4% compared to July 2007.
The jump in sales combined with the modest increase in inventory pushed the condo Days of Inventory indicator down 32 days to 182.
The sales price to list price ratio rose 0.2 of a point to 98.6% for homes. The ratio for condos dropped 0.5 of a point to 98.2%.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, please call or e-mail me at Dale@DaleWarfel.com
Market Snapshot - Santa Clara County |
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|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Jul-08 |
6,327 |
894 |
98.42 |
$887,194 |
49 |
2137 |
Jun-08 |
6076 |
927 |
98.28 |
$922,149 |
50 |
1,977 |
May-08 |
6,132 |
873 |
98.29 |
$970,702 |
47 |
2,124 |
Apr-08 |
6,045 |
654 |
98.76 |
$986,194 |
49 |
2,227 |
Mar-08 |
5,522 |
583 |
98.94 |
$984,325 |
55 |
2,051 |
Feb-08 |
5,068 |
424 |
98.20 |
$988,772 |
58 |
1,855 |
Jan-08 |
4,563 |
337 |
97.13 |
$1,005,253 |
59 |
1,629 |
Dec-07 |
4,163 |
490 |
98.16 |
$998,788 |
54 |
946 |
Sep-07 |
4,875 |
506 |
99.83 |
$1,079,868 |
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
$1,065,282 |
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
Jul-08 |
2,024 |
288 |
98.07 |
$501,877 |
51 |
657 |
Jun-08 |
2,008 |
242 |
99.04 |
$521,677 |
46 |
660 |
May-08 |
2,022 |
252 |
97.84 |
$527,957 |
50 |
691 |
Apr-08 |
1,955 |
220 |
97.99 |
$526,158 |
56 |
734 |
Mar-08 |
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
Feb-08 |
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
| Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
| Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
| Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
| Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
| Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
| Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
| Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
|
For your requirements in buying or selling properties in San Jose, especially in the communities of Almaden Valley and Willow Glen,
contact me via email at: Dale@DaleWarfel.com or on the phone: 408.624.6202
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July 2008 Newsletter |
Greetings! |
| Welcome to Dale Warfel’s July 2008 Newsletter |
Personal News:
We had a wonderful July 4th weekend. We visited Mimi’s parents and watched a huge outdoor fireworks display. Afterwards, we went back to Mimi’s folks’ place and lit off some Ground Bloom Flowers and Sparklers (they are legal where we lit them!). We swam every day in their pool. Johnny is a super swimmer, swimming across the width of the pool and diving off the diving board into an inner tube or into the waiting arms of his uncle Tim or cousin Dan or Zach.
Professional News:
We have been seeing an increase in buyer activity this month. The majority of this activity is coming from first time buyers and relocation buyers. If you know someone who has recently transferred into the area or is being transferred out of the area, and is in need of a Realtor that can give them the results they need, whether buying or selling, please call me or e-mail with their contact information. I'll be sure to take great care of them.
Do You Need A Referral?
If you are needing a referral for a qualified service provider, chances are that I have someone in my database that can help. From a house painter to a CPA, from a chiropractor to an insurance agent, I have an excellent list of resources. E-mail me at dale@dalewarfel.com and let me know how I can help.
Looking for Property? (or What’s Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what’s happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to: http://advisormls.com/Advisor?operation=search&key=11876785849682
HUGE PRICE REDUCTION!
Tri-Plex Near Downtown San Jose
125 Duane Street, San Jose
- 1 ea - 3 Bed/1 Bath unit
- 2 ea - 2 Bed/1 Bath units
Approx. 2,368 Sq. Ft.
Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed/1 bath ‘owners’ unit and a separate duplex building in the back with two 2 bed/1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow - Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!
The price of this property has been reduced to for $613,350.
Click here for more details.
HUGE PRICE REDUCTION!
4-Plex Near Downtown San Jose
129 Duane Street, San Jose
- 4 ea - 1 Bed/1 Bath units
Approx. 2,111 Sq. Ft.
This property is next door to 125 Duane street. This 4-plex also
has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. These units also feature ceiling fans in each bedroom. Cash flow is over $3,900 per month!
This price of this property has been reduced to for $634,500.
Click here for more details.
HUGE PRICE REDUCTION!
Willow Glen Single Family Home
2622 Meridian Ave., San Jose
3 Bedrooms/2 Bathrooms/Approx. 1,296 Sq.Ft. |
This wonderful home features remodeled baths with new fixtures,
tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell. Did I mention copper plumbing??
The price of this home has been reduced to $539,000.
Click here for more details.
PENDING SALE!
Sunnyvale Condo
905 Sunrose Terrace #104, Sunnyvale
2 Bedrooms/2 Bathrooms/Approx. 1,086 Sq.Ft.
|
This gorgeous, 14 year old home is in a prime Sunnyvale location, has been updated throughout, and offers a tranquil respite from
the daily grind with golf course views! The functional kitchen features granite counters and stainless appliances. 9’ ceilings with recessed lighting, and an open floor plan offer a feeling of spaciousness you would expect in a larger home. The beautiful living room fireplace is accented with a marble surround. The stylish custom plantation shutters dress up the windows beautifully. This home must been seen to be fully appreciated.
Click here for more details.
Thank You:
Thank you to Ted E., Nick I., Tony C., and Eva C. for your referrals.
Remember to check out my website and benefit from the wealth of information: http://dalewarfel.com/
You could also contact me via email at: dale@dalewarfel.com or on the phone at: 408.624.6202
My expertise lies in selling homes in Almaden Valley and Willow Glen. Log on to these two websites to get local news and information, which you can use, for these areas.
Market Update
Sales of single-family, re-sale homes in Santa Clara County rose 4.7% in June from the month before.
Even better, the year-over-year difference, -5.4%, was the best since February 2007.
Inventory dropped 3.6% from May, and is now up 14.4% year-over-year.
Combine the rise in sales with the drop in inventory, and our Days of Inventory indicator shed 15 days to 166. That is its lowest level since July 2007.
The median price was down 2.6% from May, and it was off 13.5% year-over-year. This is the fifth month in a row the median price has been lower than the year before.
The average price didn’t fare much better, dropping 13.6% from June 2007.
The sales price to list price ratio fell 0.1 of a point to 98.4%. Days on market gained two days to 48.
After rising four months in a row, condo sales fell 6.9% in June from May, and they were down 41.7% year-over-year.
The median price for condos lost 9.2% from May, $456,250. This was off 15.4% compared to June 2007.
The sales price to list price gained a full point to 98.7%. Days on market fell four to 46.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home’s worth, please call or e-mail me at dale@dalewarfel.com.
| Market Snapshot - Santa Clara County |
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
June-08 |
|
927 |
|
|
|
|
May-08 |
|
873 |
|
|
|
|
Mar-08 |
|
583 |
|
|
|
|
|
|
424 |
|
|
|
|
Jan-08 |
|
337 |
97.13 |
|
59 |
1,629 |
Dec-07 |
|
490 |
98.16 |
|
54 |
946 |
Sep-07 |
|
506 |
99.83 |
|
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
|
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
|
2,008 |
242 |
99.04 |
$521,677 |
46 |
660 |
|
2,022 |
252 |
97.84 |
$527,957 |
50 |
691 |
|
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
|
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
For your requirements in buying or selling properties in Silicon Valley, including the communities of Almaden Valley and Willow Glen, contact me via email at: dale@dalewarfel.com or on the phone: 408.624.6202
Greetings!
Welcome to Dale Warfel’s June 2008 Newsletter
Personal News:
|
There has been a lot of happenings at the Warfel household! Our son, John, had his 5th birthday, and ‘graduated’ preschool. He is excited about going to Kindergarten in the fall. As far as other milestones, Mimi and I celebrated or 19th wedding anniversary. She still chases me around the house, but at a slower pace!! On the home front, we’ve been updating the look of our kitchen. With the help of our friend Cindy, our handyman Phil, and many many, hours of hard work, we sanded and painted the kitchen cabinets, installed new door and drawer hardware, installed a built-in microwave/range hood combo, and replaced our original avocado green single oven with a more modern convection double oven. All the appliances finally are the same color!! It is looking light and bright in the kitchen! There are still some finishing touches to work on, but it sure is a vast improvement over the original dark cabinets.
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| Professional News: |
I completed the coursework for and received the designation of Certified Short Sale Professional (CSP). A short sale occurs when the net proceeds after all sales expenses have been paid are inadequate to pay all the loans in full. This situation is happening more frequently as housing values have fallen. In order to have a successful short sale transaction, it is critical that the listing agent be knowledgeable in the short sale process. Ensuring your Realtor® has a CSP designation is a great way to ensure that the agent has the knowledge to execute a successful short sale. A seller must qualify for a short sale, including demonstrating financial hardship. In terms of the effect on credit score, the short sale may have a negative impact, depending on how the bank reports the short sale, but historically it has shown to be far less damaging than a foreclosure. If you or someone you know is in this type of situation and needs the services of a Certified Short Sale Professional, please contact me with their information. I’ll be sure to take great care of them.
Do You Need A Referral?
If you need a referral for a qualified service provider, chances are that I have someone in my database that can help. From a handyman to pool service, from a dentist to a podiatrist, I have an excellent list of resources. E-mail me at dale@dalewarfel.com and let me know what you need.
Looking for Property? (or What’s Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what’s happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to: http://advisormls.com/Advisor?operation=search&key=11876785849682
HOT NEW LISTING! - Tri-Plex Near Downtown San Jose
125 Duane Street, San Jose
- 1 ea - 3 Bed/1 Bath unit
- 2 ea - 2 Bed/1 Bath units
Approx. 2,368 Sq. Ft.
Thinking of owning some investment property in a great location? Located just minutes from downtown San Jose, this affordable 3-unit property is fully rented and ready for a new owner. This property features a separate 3 bed / 1 bath ‘owners’ unit and a separate duplex building in the back with two 2 bed/ 1 bath units. These units have been updated with dual pane windows and newer central heating and air conditioning systems. Each unit has laundry hookups. This property needs some TLC, but with some sweat equity and some help from the trades, this property could be in tip top condition. Excellent cash flow - Over $3,800/month rent!! Great location near downtown San Jose, SJSU, Hwy 280, 101, 87, light rail, and more!
This property is listed for $703,250.
Click here for more details.
HOT NEW LISTING! - 4-Plex Near Downtown San Jose
129 Duane Street, San Jose
- 4 ea - 1 Bed/1 Bath units
Approx. 2,111 Sq. Ft.
This property is next door to 125 Duane street. This 4-plex also has been updated with dual pane windows and central heating/air conditioning systems. All 4 units are 1 bed/1 bath units, These units are in a high demand area, and are very easy to keep rented, as they are only a few minutes drive from Downtown San Jose, SJSU, shopping and restaurants. Detached laundry room services all 4 units. These units also feature ceiling fans in each bedroom. Cash flow is over $3,900 per month!
This property is listed at $727,500.
Click here for more details.
HOT NEW LISTING! - Willow Glen Single Family Home
2622 Meridian Ave., San Jose
3 Bedrooms/2 Bathrooms/Approx. 1,296 Sq.Ft.
This wonderful home features remodeled baths with new fixtures, tile floors and custom tile surrounds in the tub and shower enclosures. Gleaming hardwood floors adorn the living room and hallway. Dual pane windows and a newer central heating system. The kitchen could use some updating, but offers plenty of counter space and storage, especially with the pantry. This home is priced to sell. Did I mention copper plumbing??
This home is listed for $579,000.
Click here for more details.
FOR SALE! - Sunnyvale Condo
905 Sunrose Terrace #104, Sunnyvale
2 Bedrooms/2 Bathrooms/Approx. 1,086 Sq.Ft.
This gorgeous, 14 year old home is in a prime Sunnyvale location, has been updated throughout, and offers a tranquil respite from the daily grind with golf course views! The functional kitchen features granite counters and stainless appliances. 9’ ceilings with recessed lighting, and an open floor plan offer a feeling of spaciousness you would expect in a larger home. The beautiful living room fireplace is accented with a marble surround. The stylish custom plantation shutters dress up the windows beautifully. This home must been seen to be fully appreciated.
This home is listed for $539,950.
Click here for more details.
FOR SALE! - Santa Teresa Townhome
7045 Burning Hills Place, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,820 Sq. Ft.
This wonderful townhome is located walking distance from beautiful Santa Teresa Golf Club. This unit is the largest floor plan in the Santa Teresa Townhome community. The plumbing was recently replace with copper piping throughout. Bathrooms have been remodeled with gorgeous vanities, and the full baths feature custom marble tile floors and tub/shower surrounds. This home also features a 2 car garage, plenty of guest parking, and a private courtyard. Located near Hwys 101, 85, and 87, and VTA Light Rail, this home is a commuter’s dream!
This home is priced to sell at $490,000.
Click here for more details.
Pending Sale - Willow Glen Townhome
1264 Setareh Court, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,804 Sq. Ft
Walk to downtown Willow Glen in minutes from this spacious 3 bedroom townhome. Remodeled kitchen, Berber carpeting, wood frame windows, skylights, sun tunnels, spa tub, central AC, fireplace, 2 car garage with storage and much more! Small complex with mature landscaping, oak trees, and secluded pool/spa.
Click here for more details.
Thank You:
Thank you to Steven P., Salvador P., Jeana N., Sandra W., and Tony D. for your referrals.
Remember to check out my website and benefit from the wealth of information: http://dalewarfel.com/
You could also contact me via email at: dale@dalewarfel.com or on the phone at: 408.624.6202
My expertise lies in selling homes in Almaden Valley and Willow Glen. Log on to these two
websites to get local news and information, which you can use, for these areas.
http://almadenvalleyhomesforsale.com
http://willowglenhomesforsale.com
Market Update
With all the news of foreclosures headlining the news, it is easy to overlook the signs that we may be near the bottom of the market.
According to a May 20, 2008 Bay Area Home Sales Report released by real estate news source DataQuick, ‘Bay Area home sales edged up from a seven-month run of record lows last month, indicating that mortgage availability and an increased number of fence sitters have decided they like today’s lower prices.’
In other news, a May 22, 2008 Realty Times article entitled, ‘Real Estate Outlook: Worst is Over’, ‘The housing market offered some immediate hints of recovery with new home starts up by 8.2 percent last month [April, 2008] and building permits up by 5 percent.’
The California Association of Realtors reported on May 23rd that ‘Home sales registered a 2.5 percent year-to-year gain compared with April 2007, ending a 30-month string of year-to-year percentage decreases that began in October 2005.’
Other signs that we are at, or near, the bottom of this cycle are:
Buy and hold investors are coming back into the market.
Multiple offers on bank-owned properties, trophy properties, and well-priced homes in the best school districts.
If you have been sitting on the sidelines waiting to enter the market, there may not be a better time than now. Prices in some markets may not have hit their lowest point, but they probably aren’t far off. In many areas, only the pace of sales has been affected while prices have held firm and in some cases, have gone up.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home’s worth, please call or e-mail me at dale@dalewarfel.com.
Bank-owned properties in Santa Clara County continue to offer prospective home buyers an exceptional opportunity to save on their home purchase. If you are interested in learning more about bank owned properties, call or e-mail me at dale@dalewarfel.com!
Thinking of moving up?
With the combination of low interest rates, higher inventory and settling market values (in most communities), this is a great time to consider making a move to a larger home. How long will this market last? No one knows for sure, but, historically, prices and interest rates typically move up faster than they fall, so we may not have this type of a market opportunity again for quite some time.
|
| Market Snapshot - Santa Clara County |
|
|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
May-08 |
|
873 |
|
|
|
|
Mar-08 |
|
583 |
|
|
|
|
|
|
424 |
|
|
|
|
Jan-08 |
|
337 |
97.13 |
|
59 |
1,629 |
Dec-07 |
|
490 |
98.16 |
|
54 |
946 |
Sep-07 |
|
506 |
99.83 |
|
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
|
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
|
|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
|
2,022 |
252 |
97.84 |
$527,957 |
50 |
691 |
|
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
|
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
|
For your requirements in buying or selling properties in Silicon Valley, including the communities of Almaden Valley and Willow Glen, contact me via email at: dale@dalewarfel.com or on the phone: 408.624.6202
|
|
|
|
|
April 2008 Newsletter
Greetings!
Welcome to Dale Warfel’s April 2008 Newsletter
.
Personal News:
Mimi and I are getting serious about adopting a child. We are taking classes through Santa Clara County Social Services to be certified Foster Care/Adoptive Parents (called Fost/Adopt). We are excited about the possibility of growing our family.
.
Professional News:
I just completed my training as a Loss Mitigation Consultant with Titanium Solutions. This additional training allows me to better serve those clients who may be facing the possibility of foreclosure. As banks are facing the reality of owning more and more real estate, hundreds of millions of dollars in assets are being tied up owning and maintaining properties, instead of being loaned to customers. As a Loss Mitigation Consultant, I am able to work with consumers that are having challenges making their house payments, in many times before the default notices have been filed, helping the homeowner reconnect with the loan services in case there is a possibility of some type of workout solution that can help the homeowner stay in their home. If you or someone you know if facing this type of hardship, please let me know.
Do You Need A Referral?
If you need a referral for a qualified service provider, chances are that I have someone in my database that can help. From a handyman to pool service, from a dentist to a podiatrist, I have an excellent list of resources. E-mail me at dale@dalewarfel.com and let me know what you need. Looking for Property? (or What's Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what’s happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive! Go to: http://advisormls.com/Advisor?operation=search&key=11876785849682E-mail me at Dale@DaleWarfel.com and let me what type of service provider you need. JUST LISTED! - Sunnyvale Condo
905 Sunrose Terrace #104, Sunnyvale
2 Bedrooms/2 Bathrooms/Approx. 1,086 Sq. Ft.
This gorgeous, 14 year old home is in a prime Sunnyvale location, has been updated throughout, and offers a tranquil respite from the daily grind with golf course views! The functional kitchen features granite counters and stainless appliances. 9’ ceilings with recessed lighting, and an open floor plan offer a feeling of spaciousness you would expect in a larger home. The beautiful living room fireplace is accented with a marble surround. The stylish custom plantation shutters dress up the windows beautifully. This home must been seen to be fully appreciated.
This home is listed for $539,950.
Go to www.905SunroseTerrace.com for details. JUST LISTED! - Santa Teresa Townhome
7045 Burning Hills Place, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,820 Sq. Ft.
This wonderful townhome is located walking distance from beautiful Santa Teresa Golf Club. This unit is the largest floor plan in the Santa Teresa Townhome community. The plumbing was recently replaced with copper piping throughout. Bathrooms have been remodeled with gorgeous vanities, and the full baths feature custom marble tile floors and tub/shower surrounds. This home also features a 2 car garage, plenty of guest parking, and a private courtyard. Located near Hwys 101, 85, and 87, and VTA Light Rail, this home is a commuter’s dream!
This home is priced to sell at $527,500.
Go to www.7045BurningHills.info for details. For Sale - Willow Glen Townhome
1264 Setareh Court, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,804 Sq. Ft.
Walk to downtown Willow Glen in minutes from this spacious 3 bedroom townhome. Remodeled kitchen, Berber carpeting, wood frame windows, skylights, sun tunnels, spa tub, central AC, fireplace, 2 car garage with storage and much more! Small complex with mature landscaping, oak trees, and secluded pool/spa.
This new price for this beautiful home is listed for $699,500.
Click here for more details. For Sale! - Almaden Valley
1039 Kiser Drive, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,470 Sq. Ft.
This home is a beauty, and priced to sell! Located in the top Almaden Valley school districts (Graystone Elementary School, Bret Harte Middle School, Leland High School), this immaculate home is situated near walking and biking trails. This is currently the lowest price single family home in Almaden Valley.
This home is listed for $675,000.
Click here for more details.
Thank You:
Thank you to Roland G., Jackie D., Jeff H., and Jeff M. for your referrals. Remember to check out my website and benefit from the wealth of information: http://dalewarfel.com/
You could also contact me via email at: dale@dalewarfel.com or on the phone at: 408.624.6202
My expertise lies in selling homes in Almaden Valley and Willow Glen. Log on to these two websites to get local news and information, which you can use, for these areas.
http://almadenvalleyhomesforsale.com
http://willowglenhomesforsale.com Market Update
Sales of single-family, re-sale homes rose 37.5% last month compared to February. Year-over-year, sales were off 35.2%. Year-to-date, home sales are off 38.2%.
The median price for homes rose for the second month in a row, gaining 4.4% month-over-month, but was off 2.1% compared to last March.
Condo sales were also up substantially last month, rising 39% from February, but off 52.9% year-over-year.
The median price for condos dropped 2.6% from the month before, and was down 0.9% compared to last March.
Inventory continues to increase with the supply of homes up 9% from February, and up 63.8% year-over-year. Condo inventory gained 4.5%, up 50.4% compared to last March.
The sales price to list price ratio rose 0.7 of a point to 98.9% for homes. The ratio for condos gained 0.5 of a point to 98.4%.
Days on market fell two days to 55 for homes. Days on market for condos dropped eleven to 53 days.
Our days of inventory indicator for single-family homes turned downward on the increase in sales, shedding 75 days, sending the indicator to 284 days. The indicator for condos fell 91 days to 277.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home’s worth, please call or e-mail me at Dale@DaleWarfel.com
Bank-owned properties in Santa Clara County continue to offer prospective home buyers an exceptional opportunity to save on their home purchase. If you are interested in learning more about bank owned properties, call or e-mail me at Dale@DaleWarfel.com!Thinking of moving up?
With the combination of low interest rates, higher inventory and settling market values (in most communities), this is a great time to consider making a move to a larger home. How long will this market last? No one knows for sure, but, historically, prices and interest rates typically move up faster than they fall, so we may not have this type of a market opportunity again for quite some time.
| Market Snapshot - Santa Clara County |
|
|
|
|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
|
Mar-08 |
|
583 |
|
|
|
|
|
|
|
424 |
|
|
|
|
|
Jan-08 |
|
337 |
97.13 |
|
59 |
1,629 |
|
Dec-07 |
|
490 |
98.16 |
|
54 |
946 |
|
Sep-07 |
|
506 |
99.83 |
|
36 |
1,730 |
|
Jun-07 |
4,465 |
979 |
100.20 |
|
40 |
1,984 |
|
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
|
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
|
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
|
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
|
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
|
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
|
|
|
|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
|
1,808 |
196 |
98.37 |
$569,869 |
53 |
625 |
|
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
953 |
Dec-05 |
707 |
423 |
100.25 |
$514,549 |
36 |
312 |
Jun-05 |
760 |
673 |
103.79 |
$506,697 |
14 |
683 |
For your requirements in buying or selling properties in San Jose, especially in the communities of Almaden Valley and Willow Glen, contact me via email at: dale@dalewarfel.com or on the phone: 408.624.6202
|
|
|
|
|
| |
March 2008 Newsletter
Greetings!
Welcome to Dale Warfel’s March 2008 Newsletter .
Personal News:
After taking 2 months off to rehabilitate a sore right shoulder, I started my 2nd round of P90X workout regimen at the end of January. The start-up phase was a bit rough (sore muscles), but I recovered from that and am going full speed ahead!
We are planning a trip to Yosemite this summer (this will be my first trip there...ever!). If you have some recommendations for some fun family activities, please let me know .
Professional News:
Do You Need A Referral?
If you are needing a referral for a qualified service provider, chances are that I have someone in my database that can help. Here is just a small sample of the professions that are represented in my database:
| - Estate Planning Attorney | - Lender |
| - Business Coach | - Acupuncturist |
| - Massage Therapist | - Chiropractor |
| - Insurance | - Dentist |
| - General Contractor | - Website Design/Web Marketing |
|
- Podiatrist | - Residential/Commercial Cleaning Service |
| - I.T. Support | - Financial Planner |
| - Landscaper |
- Gardener |
| - Pest Inspector | - Handyman |
| - Pool Service | - Florist |
| - Travel Agent | - Electrician |
| - Plumber | - Notary |
| - Health and Wellness Consultant | - Residential/Commercial Painter |
| - CPA | ... and many more! |
E-mail me at Dale@DaleWarfel.com and let me what type of service provider you need.
Looking for Property? (or What's Happening in My Neighborhood?)
Are you looking for a private, secure place to search for real estate? Would you like to know what's happening in your neighborhood? My MLS Advisor Service provides up to date information on listing activity in your area or in any Bay Area region you choose. Search for active listings, properties in escrow, price reductions, and much more. Take a test drive!
Go to: http://advisormls.com/Advisor?operation=search&key=11876785849682
COMING SOON! - Santa Teresa Townhome
7045 Burning Hills Place, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,820 Sq. Ft.
This wonderful townhome is located walking distance from beautiful Santa Teresa Golf Club. This unit is the largest floor plan in the Santa Teresa Townhome community. Bathrooms have been remodeled with gorgeous vanities, and custom marble floors and tub/shower surrounds. This home also features a 2 car garage, plenty of guest parking, and a private courtyard. This home will be priced to sell! Stay tuned for more info!
For Sale! - Willow Glen Townhome
1264 Setareh Court, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,804 Sq. Ft.
Walk to downtown Willow Glen in minutes from this spacious 3 bedroom townhome. Remodeled kitchen, Berber carpeting, wood frame windows, skylights, sun tunnels, spa tub, central AC, fireplace, 2 car garage with storage and much more! Small complex with mature landscaping, oak trees, and secluded pool/spa.
The new price for this beautiful home is $699,500.
Click here for more details.
For Sale! - Almaden Valley
1039 Kiser Drive, San Jose
3 Bedrooms/2.5 Bathrooms/Approx. 1,470 Sq. Ft.
This home is a beauty, and priced to sell! Located in the top Almaden Valley school districts (Graystone Elementary School, Bret Harte Middle School, Leland High School), this immaculate home is situated near walking and biking trails. This is currently the lowest price single family home in Almaden Valley.
This home is listed for $675,000.
Click here for more details.
Thank You: Thank you to Roland G., Jackie D., Jeff H., and Jeff M. for your referrals.
Remember to check out my website and benefit from the wealth of information: http://dalewarfel.com/
You could also contact me via email at: dale@dalewarfel.com or on the phone at: 408.624.6202
My expertise lies in selling homes in Almaden Valley and Willow Glen. Log on to these two websites to get local news and information, which you can use, for these areas.
http://almadenvalleyhomesforsale.com
http://willowglenhomesforsale.com
Market Update
The median prices for single-family, re-sale homes and re-sale condos gained ground in February. The median price for homes rose 5.1% from January, a year-over-year loss of 1.5%. This is the first year-over-year loss since August 2003. The median price for condos rose 13%, month-over-month, and was up 6.7% compared to February 2007.
Sales of single-family, re-sale homes bounced back from the record low set in January. There were 424 homes sold last month, a rise of 25.8% from the month before, down 36.2% from last February. Condo sales rose 2.2%, but were off 56.9% year-over-year.
Inventory continues to increase as we enter the spring selling season. The number of homes on the market rose 11.1% compared to January, and up 72.9% year-over-year. Condo inventory rose 8.7% month-over-month, and was up 61.7% compared to last February.
The sales price to list price ratio for single-family homes rose 1.07% to 98.2%. The ratio for condos fell 0.8% of a point to 97.9%.
Days on market fell one day to 58 for homes. Days on market for condos fell two days to 64 days.
Our days of inventory indicator for single-family homes turned downward on the increase in sales, shedding 73 days, sending the indicator to 346 days. The indicator for condos shed almost 2 days to 356.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, please call or e-mail me at Dale@DaleWarfel.com
Bank-owned properties in Santa Clara County continue to offer prospective home buyers an exceptional opportunity to save on their home purchase. If you are interested in learning more about bank owned properties, call or e-mail me at Dale@DaleWarfel.com!
Thinking of moving up?
With the combination of low interest rates, higher inventory and settling market values (in most communities), this is a great time to consider making a move to a larger home. How long will this market last? No one knows for sure, but, historically, prices and interest rates typically move up faster than they fall, so we may not have this type of a market opportunity again for quite some time.
| Market Snapshot - Santa Clara County |
|
|
|
|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
| |
|
424 |
|
|
|
|
Jan-08 |
|
337 |
97.13 |
|
59 |
1,629 |
Dec-07 |
|
490 |
98.16 |
|
54 |
946 |
Sep-07 |
|
506 |
99.83 |
|
36 |
1,730 |
Jun-07 |
4,465 |
979 |
100.20 |
|
40 |
1,984 |
Mar-07 |
3,345 |
890 |
99.73 |
$1,065,798 |
57 |
1,888 |
Dec-06 |
2,349 |
825 |
98.30 |
$903,208 |
59 |
562 |
Sep-06 |
3,926 |
887 |
99.00 |
$922,195 |
50 |
2,006 |
Jun-06 |
3,793 |
1,192 |
100.17 |
$989,891 |
35 |
2,491 |
Dec-05 |
1,958 |
970 |
98.98 |
$881,718 |
41 |
705 |
Jun-05 |
2,654 |
1,623 |
100.95 |
$926,348 |
17 |
1,743 |
|
|
|
|
|
Inventory |
Closed Sales |
% LP Rec'd |
Avg. Price |
Avg. DOM |
New Listings |
|
1,730 |
141 |
97.99 |
$553,161 |
64 |
623 |
Jan-08 |
1,591 |
138 |
98.07 |
$523,566 |
66 |
599 |
Dec-07 |
1,384 |
188 |
97.77 |
$533,120 |
51 |
321 |
Sep-07 |
1,752 |
184 |
99.36 |
$558,182 |
42 |
598 |
Jun-07 |
1,604 |
415 |
100.00 |
$574,099 |
36 |
742 |
Mar-07 |
1,202 |
416 |
100.00 |
$559,760 |
61 |
739 |
Dec-06 |
948 |
343 |
99.07 |
$522,741 |
53 |
214 |
Sep-06 |
1,525 |
387 |
99.43 |
$523,614 |
44 |
773 |
Jun-06 |
1,291 |
479 |
100.50 |
$522,932 |
34 |
| | |
