Wednesday, September 28, 2016

A Whopping 44% of Buyers are paying ALL-CASH to buy Palo Alto Homes the past 2 1/2 years

To understand the impact of ALL-CASH buyers, in Palo Alto, for the past 2 1/2 years, the percentage of homes that were bought by buyers who paid ALL-CASH is 44% !! This is in Palo Alto, where homes are regularly in the multi-million dollar range.  However, don't despair mortgage buyers.  I've been able to get my buyers deals even though we need to get a mortgage.

Friday, September 9, 2016

KHovanian Homes For Sale at Traverse in San Jose

KHovanian Homes for Sale at Traverse (2150 Trade Zone Blvd, San Jose, CA)
Journey Model Homes priced $894,990-$1,069,990
Voyage Model Homes priced $915,922-$1,156,363
Voyage Non-Model Homes priced $839,800-$1,002,300

Monday, September 5, 2016

Affordable Housing in San Jose near downtown.

Two affordable housing units available.  These units are subject to the restrictions of the City of San Jose BEGIN Homebuyer Program.  This program offers down payment assistance to people who qualify for help based on their income.

1375 Lick Ave, #220 and #530 are both 1bed 1bath 733sqft and offered at $360,000

For Facebook article, click here --> Facebook

Thursday, September 1, 2016

Difference in price between an all-cash 10-day close double-end sale vs. a conventional sale

Nowadays, the general public SEES sales data through sites like Redfin, Zillow, and Trulia.  However, the general public often does not know how to INTERPRET the data.

One example is the discrepancy in sales price of IDENTICAL units in the SAME complex.

In the past month, identical 2-bedroom 1-bathroom 858 square foot units sold in the SAME Middlefield Meadows complex for very DIFFERENT final sales prices.

96 Flynn Ave #A sold for $725,000
122 Flynn Ave #A sold for $650,000

Why such a HUGE difference?  I took a closer look.

After looking into it, I found out that 122 Flynn Ave #A had two reasons for such a low sales price:

--ALL-CASH deal closing in just TEN DAYS.  There's no comparison between an all-cash, 10-day close deal like that to buyers who have only  20% down payment.  The other Flynn (which has a CONVENTIONAL buyer with over 20% down payment) paid $725,000.

--That listing agent's company DOUBLE-ENDED that transaction, meaning the same real estate company had BOTH the seller AND the buyer.  Perhaps in an effort to earn double-commission, that real estate company settled for a lower price after only 3 days on the market.

In summary:
122 Flynn Avenue #A
sold for $650,000 <-- all-cash="" closing="" days="" in="" span="" ten="" this="" was="">
96 Flynn Avenue #A
sold for $725,000 <-- 20="" conventional="" down="" loan="" over="" span="" this="" was="" with="">

Difference in price between an all-cash 10-day close double-end sale vs. a conventional sale