Archive for April, 2009

Santa Clara Home Sales Performance First Third of 2009

Tuesday, April 28th, 2009

Median List Price $ 599,894
Average List Price $ 618,108
Total Inventory 208
Most Expensive Listing $ 1,195,000
Least Expensive Listing $ 249,950
Average Days on Market 167
Asking Price per Square Foot $ 420
Absorbed This Week* 23
Percent of Properties with Price Decrease 45 %
Percent Relisted (reset DOM) 15 %
Market Action Index 17
Median Number of Bedrooms 3.0
Median Number of Bathrooms 2.0
Median House Size (sq ft) 1,380
Median Lot Size 4500 – 6000 sq ft
Median Age 53

 Santa Clara Home Sales Performance First Third of 2009

Average days on market appear to still be advancing.  We should take a closer look at this to see which segments of the Santa Clara real estate market are performing better than others.  Also inventory appears to be plateauing for the spring, it will be interesting to see if the market slows down in the summer and if it follows the typical Santa Clara real estate cycle.

 Santa Clara Home Sales Performance First Third of 2009

The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. 

An MAI value greater than 30 typically indicates a “Seller’s Market” (a.k.a. “Hot Market”) because demand is high enough to quickly gobble up available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a “Buyer’s Market” (a.k.a. “Cold Market”) where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall.

Here we analyze the MAI for all the four different quartiles in the Santa Clara market to see how each one is performing.  The top and bottom end of Santa Clara homes are performing better than the middle tiers as you can see.

 Santa Clara Home Sales Performance First Third of 2009

This graph is showing supply and demand of homes.  How many homes are being listed versus how many homes are being sold in Santa Clara.  At the beginning of the year things were looking bleak, but it appears that the graph is moving where sales will begin to over take the listings.  This should help lower inventory numbers.

Santa Clara Home for Sale Cupertino Schools – Maywood

Saturday, April 25th, 2009

santa clara home sale maywood hayes Santa Clara Home for Sale Cupertino Schools   Maywood

361 HAYES AVE, SANTA CLARA

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Status: Active
ML Number: 80920106
Parcel Number: 296-11-035
ZIP: 95051
Area: 8 Santa Clara
City: Santa Clara
City Limits: True
County: SANTA CLARA COUNTY
Barclay Map: pg. 53 (28 ,67)
Thomas Br Map: pg. 833 (A7)
Cross Street: Atherton Drive
Unincorporated: False
Beds: 3
Baths: 2
Stories: 1
Class: Single Family Residential
Type: Detached Single Family
List Price: $725,000
Original Price: $725,000
List Date: 4/23/2009
DOM: 2
CDOM: 2
Lot Size (Acres): 0.130
Lot Size: 5679.00 SF
SqFt (source): 1260 (Assessor)
Age: 54
Year Built: 1955
Builder: MACKAY
Zoning: R1
School District: Fremont Union High
Remarks
Well preserved Mackay home in the Maywood / Fairemeade neighborhood of Santa Clara. Not to be confused with Eichler who also built similar homes, this was developed by a contemporary of Eichler, Mackay. This Santa Clara home is situated on a shaded tree lined street. The home is in good condition and features a forced heating system and not radiant heat. Courtyard and backyard areas are also very pleasant and well designed. This Santa Clara home features Cupertino Schools: Eisenhower Elementary, Hyde Middle and Cupertino High.
Listed by Intero Real Estate Services

Great Deal on Santa Clara Home REO – Darvon Park

Saturday, April 25th, 2009

3020 MARK AVE., SANTA CLARA

santa clara home sale darvon park Great Deal on Santa Clara Home REO   Darvon Park
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Status: Active
ML Number: 80920034
Parcel Number: 220-29-009
ZIP: 95051
Area: 8 Santa Clara
City: Santa Clara
County: SANTA CLARA COUNTY
Barclay Map: pg. 41 (28 ,71)
Thomas Br Map: pg. 833 (A3)
Cross Street: Calabazas / Warburton
Unincorporated: False
Beds: 3
Baths: 2
Stories: 1
Class: Single Family Residential
Type: Detached Single Family
List Price: $434,600
Original Price: $434,600
List Date: 4/23/2009
DOM: 2
CDOM: 354
Lot Size (Acres): 0.145
Lot Size: 6325.00 SF
SqFt (source): 1170 (Assessor)
Age: 52
Year Built: 1957
Zoning: R1
School District: Santa Clara Unified

REMARKS:

Great deal on this bank owned home in Darvon Park Santa Clara. This 3 bedroom 2 bath Santa Clara home features a large back yard, and condition is fair. Home needs some updating but nothing severe. It will likely sell with multiple offers over asking and will require some money to get it into better living condition. Nonetheless this is the best deal on the market in Santa Clara for a single family home.
Listed by Realty World.

Boulevard by Shea Homes – New Development Santa Clara Townhomes

Thursday, April 23rd, 2009

Shea Homes Townhome develoment Boulevard in Santa Clara

Shea Homes Townhome develoment Boulevard in Santa Clara

Shea homes has resumed development on their Boulevard town home project project in Santa Clara. After leaving the project dormant for almost a year they have opened up their sales center and resumed construction. This is one of many new town home developments in the Santa Clara and Sunnyvale areas that are available.

I visited the new Santa Clara town home development a few months ago to take a look at the product. Being familiar with the area I remember the site when it was previously Underwriter’s Laboratory which occupied the current location. Although its not my favorite location in Santa Clara, I will admit that their are some advantages. Its very close to El Camino, Mervyn’s Plaza and other shopping. Unfortunately the Albertsons and Mervyns are now gone, but there remains other shopping and conveniences near buy especially for the ethnic Indian community.

Interior of Shea Homes Boulevard Model

Interior of Shea Homes Boulevard Model

The stlye of town homes is tri-level with a rear garage, no back yard or limited private out door space. Similar to which Shea built in Rivermark a few years back. However, the floorplans are different. They offer three floor plans named after famous jazz musicians; Armstrong, Ellington, and Coltrane.

The Boulevard Town Homes are quite versatile and would work for different individuals and life styles. The Armstrong has a first level bedroom and a top floor bedroom, with living area and kitchen on the middle floor. The Ellington has a downstairs den, which my experience is usually not as utilized, and two upstairs suites and again living area and kitchen in the middle floor. The Coltrane, has a 2-3 bedroom configuration. Two upstairs bedrooms and a first floor bedroom, with living and kitchen on the middle floor. Each have well designed living and kitchen areas. Bathrooms are not as large as their Rivermark counterparts but functional of course.

Don’t fall for the lavishly decorated models, those come at an upgraded price and your unit is not likely to look anything like that. Kitchen amenities are fine, with different styles to choose from, interior of the cabinets are still melamine. Another nice feature is the garages are all two car side by side, which make it very convenient and do not hamper resale like their tandem counterparts. And now that they have dropped their prices about 10 percent, it makes for a better deal. Amenities are simple, which I feel most prefer. A small park or plaza type area in the middle of the development, no pool or clubhouse but that will keep the HOA low, and I’m sure that’s more of what the homeowners are looking for. I would give the overall development a B- citing mostly location as a drawback and still feel price and incentives should be higher.

New West Wood Oaks Townhome Development – Pruneridge Villas

Wednesday, April 22nd, 2009

Exterior Pruneridge Villas Townhome

Exterior Pruneridge Villas Townhome

The Pruneridge Villas are located in the old commercial lot adjacent to the Chevron gas station and the Oakridge apartments on Pruneridge Avenue near the Westwood Oaks neighborhood of Santa Clara.

Rockwell homes has constructed 8 tri-level style townhomes in the location.  The townhomes are 2 bedroom 2.5 bath units approximately 1400 square feet with 2 car garages and back yard patios.  I applaud the developers ability to construct some back yard space for these units, all to often this style of townhome features no private outside area.
School-wise there are located in the Cupertino School District with enrollment area encompassing Eisenhower Elementary, Hyde Middle and Cupertino High.  For brand new homes and good schools there appears to be some good value here for home buyers.
Interior of Pruneridge villa Townhome

Interior of Pruneridge Villas Townhome

The Floor plan is typical for a tri-level style townhome development.  The first level is the garage, second level kitchen and living area, and third level is the two bedrooms which are both suites.  Bedroom sizes are reasonable, living room size is spacious.  Kitchen I felt to be a bit small and closed in.  I would have preferred to see a open kitchen with center island, wouldn’t we all.  Decor and amenities, I would rate as a B.  The home used granite and tile in the bathrooms and kitchen, colors where not pleasing to me, but this is personal tasted.  Kitchen cabinetry was decent as were the entry level stainless steel appliances.

Overall considering the price tag of $600K I feel these are a reasonable value, and buyers who are looking for a townhomes in the Cupertino School District should try and negotiate and purchase one of these units.