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July 2008 Newsletter |
Greetings! |
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| Welcome to Dale Warfel’s July 2008 Newsletter |
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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:
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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: |
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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: | |
