Click the hypertext to see the Least Expensive Cupertino Union School District Condos and Townhomes Currently on the Market as of 5/31/2012.
http://siliconvalleyhouses.files.wordpress.com/2012/06/mapprintleastexpensivecusdcndth.pdf
Thursday, May 31, 2012
Sunday, May 20, 2012
Mountain View Ada Ave Townhouses have been rising since their bottom in 2010
Mountain View Ada Ave Townhouses have been rising since their bottom in 2010. Here are charts that illustrate this.
Wednesday, May 16, 2012
Santa Clara Neighborhood: SE of Lawrence & Benton - Who's walking around the block at dusk?
Homebuyers often ask REALTORs, "What do you think of the neighborhood?" I often tell them, "I think it's a neighborhood, but it matter more how YOU feel." As an agent, I'm not supposed to give any opinion regarding the demographics, so the best I can do is state FACTS.
At dusk on a Monday night, I walked around the Santa Clara neighborhood that is South East of Lawrence & Benton, South of Earl Carmichael Park, North of Stratford.School, Monticello Academy, and Curtis Practice Field. Who are the people walking around the block at dusk?
7:25pm An older couple taking a brisk evening stroll
7:30pm A mom pushing her new baby in a stroller as her older toddler followed close behind.
7:35pm An engineer from Apple
What kind of neighborhood you like is a personal decision. Your best bet is to do as I do ... walk around the neighborhood and see for yourself what type of people are walking around at that time of day.
At dusk on a Monday night, I walked around the Santa Clara neighborhood that is South East of Lawrence & Benton, South of Earl Carmichael Park, North of Stratford.School, Monticello Academy, and Curtis Practice Field. Who are the people walking around the block at dusk?
7:25pm An older couple taking a brisk evening stroll
7:30pm A mom pushing her new baby in a stroller as her older toddler followed close behind.
7:35pm An engineer from Apple
What kind of neighborhood you like is a personal decision. Your best bet is to do as I do ... walk around the neighborhood and see for yourself what type of people are walking around at that time of day.
Tuesday, May 15, 2012
Santa Clara Homestead Little League
Santa Clara Homestead Little League is in full swing right now.
Games and practices are usually on Tuesdays, Thursdays, and Saturdays.
Twice a season, the kids in Farm League get to play on the Major Field. The kids enjoy playing on the Major Field because it has the atmosphere of a real playing field with announcers, bleachers, a home run fence, lines, etc.
The Home team's job is to set up the bases and rake before the game.
If you need to dry up some puddles, then throw QuickDry on them.
The Visiting team's job is to remove the bases, return the bases to the storage shack in Minor Field, then and rake after game.
The League provides each child a cap and a T-shirt with the team name + socks
Parents need to provide shoes (cleats for baseball or soccer are both ok), baseball pants (no shorts), belt, athletic supporter. Optional: Buy your own helmet. (Kids can also borrow a helmet every time they are at bat.). Parent can buy all this equipment at Sports Basement, Sports Authority, All Out Baseball (expensive), and/or Big5.
Games and practices are usually on Tuesdays, Thursdays, and Saturdays.
Twice a season, the kids in Farm League get to play on the Major Field. The kids enjoy playing on the Major Field because it has the atmosphere of a real playing field with announcers, bleachers, a home run fence, lines, etc.
The Home team's job is to set up the bases and rake before the game.
If you need to dry up some puddles, then throw QuickDry on them.
The Visiting team's job is to remove the bases, return the bases to the storage shack in Minor Field, then and rake after game.
The League provides each child a cap and a T-shirt with the team name + socks
Parents need to provide shoes (cleats for baseball or soccer are both ok), baseball pants (no shorts), belt, athletic supporter. Optional: Buy your own helmet. (Kids can also borrow a helmet every time they are at bat.). Parent can buy all this equipment at Sports Basement, Sports Authority, All Out Baseball (expensive), and/or Big5.
Saturday, May 12, 2012
Eaton Elementary, Lawson Middle, Cupertino High Actives, Pendings, Solds
Eaton Elementary, Lawson Middle, Cupertino High listings have been in low supply, so the listings that have been put on the market have all sold quickly.
The exact numbers are:
Actives (3 listings with average days on market = 23)
Pendings (6 listings with average days on market = 11)
Solds in past 90 days (7 listings with average days on market = 10)
The pendings and solds in the past 90 days show that a normal listing in the Eaton Elementary, Lawson Middle, Cupertino High neighborhoods sells after just 10 or 11 days on the market.
The actives are 3 listings that each have some property that makes them harder to sell.
The exact numbers are:
Actives (3 listings with average days on market = 23)
Pendings (6 listings with average days on market = 11)
Solds in past 90 days (7 listings with average days on market = 10)
The pendings and solds in the past 90 days show that a normal listing in the Eaton Elementary, Lawson Middle, Cupertino High neighborhoods sells after just 10 or 11 days on the market.
The actives are 3 listings that each have some property that makes them harder to sell.
- 6397 Myrtlewood Drive
- 20237 Bollinger Road is on a busy street.
- 10201 Nile Drive is a top floor condo unit.
Friday, May 11, 2012
Data that shows Zillow home values lag the real market
Zillow home values lag the real market.
When prices are dropping, Zillow Zestimates don't drop soon enough.
When prices are rising Zillow Zestimate don't rise soon enough.
Right now prices are rising in the good school districts of Silicon Valley, so Zillow Zestimates are too low. A Zestimate is just a prediction of the market value. However, the true market value is what a willing buyer willingly paid to a willing seller for the house.
For 10791 Brookwell Drive, Zillow shows a Zestimate of $875,000. However, on the open market, this house sold for $938,000. The actual sales price, and thus market value, was 7% above Zillow. Zillow is behind. Zillow underestimates the actual market value by 7% in this Castlewood neighborhood right now.
Assuming Zillow's formula is offset approximately the same percentage in the same neighborhood, a reasonable guess is that 6397 Myrtlewood Drive is worth approximately 7% above the Zillow Zestimate price. Since the Zestimate for 6397 Myrtlewood Drive is $912,200, if it's true market value is 7% higher, then 6397 Myrtlewood Drive is worth $977,878. The listing price of $970,000 is just 6% above the Zillow Zestimate, so is reasonable based on comparison to 10791 Brookwell Drive, which sold 7% above Zillow.
The spreadsheet showing both is in this Excel Workbook.
When prices are dropping, Zillow Zestimates don't drop soon enough.
When prices are rising Zillow Zestimate don't rise soon enough.
Right now prices are rising in the good school districts of Silicon Valley, so Zillow Zestimates are too low. A Zestimate is just a prediction of the market value. However, the true market value is what a willing buyer willingly paid to a willing seller for the house.
For 10791 Brookwell Drive, Zillow shows a Zestimate of $875,000. However, on the open market, this house sold for $938,000. The actual sales price, and thus market value, was 7% above Zillow. Zillow is behind. Zillow underestimates the actual market value by 7% in this Castlewood neighborhood right now.
Assuming Zillow's formula is offset approximately the same percentage in the same neighborhood, a reasonable guess is that 6397 Myrtlewood Drive is worth approximately 7% above the Zillow Zestimate price. Since the Zestimate for 6397 Myrtlewood Drive is $912,200, if it's true market value is 7% higher, then 6397 Myrtlewood Drive is worth $977,878. The listing price of $970,000 is just 6% above the Zillow Zestimate, so is reasonable based on comparison to 10791 Brookwell Drive, which sold 7% above Zillow.
The spreadsheet showing both is in this Excel Workbook.
Case Study Cupertino Castlewood Neighborhood up 20% over mid 2005 prices
Many people say that during a real estate downturn, houses in good school districts keep their values better. Rather than simply trust this logic, I performed a Case Study.
People say that sometimes statistics are manipulated by cherry-picking statistics that show their intended viewpoint. For instance, data might show housing prices in Sunnyvale increasing by 35%, but maybe that upward shift in prices is simply because more homes are being sold in the more expensive southern part of Sunnyvale rather than the less expensive northern part of Sunnyvale.
To avoid the scenario above, I had to concentrate on one specific neighborhood. I chose the Cupertino Castlewood Neighborhood. This is the quiet neighborhood northwest of the intersection of Miller and Bollinger. The schools in this neighborhood are Eaton Elementary, Lawson Middle, and Cupertino High.
However, even if I restrict to the same neighborhood, the increase in prices might still be due to the change in mix of which particular houses sold. To eliminate even this argument, I looked at two specific houses in the Castlewood neighborhood -- 10791 Brookwell Drive and 6397 Myrtlewood Drive.
Looking at their historical sales price trend, I extracted the data and entered them into an Excel spreadsheet. You can see that 10791 Brookwell Drive sold for $806,000 on 12/1/2005 and actually rose 16% during this downturn to actually RISE in price to $938,000 on 4/12/2012. These are not Zillow predictive prices. These are ACTUAL sales prices. A buyer was actually able and willing to pay $938,000 last month for a house that they knew sold for just $806,000 on 12/1/2005, back in one of the peak years. Based on 10791 Brookwell Drives prices, the asking price of 6397 Myrtlewood Drive of $970,000 is a very close estimate of what 6397 Myrtlewood Drive SHOULD sell for. The $970,000 asking price is a reasonable 21% over the same property's late 2005 price.
To show this continued rise in home values in Cupertino, I plotted the actual sales data in a 10791 Brookwell Drive Chart and a 6397 Myrtlewood Drive Chart. Even during this downturn in real estate, Cupertino Castlewood Neighborhood values are up 20% over mid 2005 prices.
People say that sometimes statistics are manipulated by cherry-picking statistics that show their intended viewpoint. For instance, data might show housing prices in Sunnyvale increasing by 35%, but maybe that upward shift in prices is simply because more homes are being sold in the more expensive southern part of Sunnyvale rather than the less expensive northern part of Sunnyvale.
To avoid the scenario above, I had to concentrate on one specific neighborhood. I chose the Cupertino Castlewood Neighborhood. This is the quiet neighborhood northwest of the intersection of Miller and Bollinger. The schools in this neighborhood are Eaton Elementary, Lawson Middle, and Cupertino High.
However, even if I restrict to the same neighborhood, the increase in prices might still be due to the change in mix of which particular houses sold. To eliminate even this argument, I looked at two specific houses in the Castlewood neighborhood -- 10791 Brookwell Drive and 6397 Myrtlewood Drive.
Looking at their historical sales price trend, I extracted the data and entered them into an Excel spreadsheet. You can see that 10791 Brookwell Drive sold for $806,000 on 12/1/2005 and actually rose 16% during this downturn to actually RISE in price to $938,000 on 4/12/2012. These are not Zillow predictive prices. These are ACTUAL sales prices. A buyer was actually able and willing to pay $938,000 last month for a house that they knew sold for just $806,000 on 12/1/2005, back in one of the peak years. Based on 10791 Brookwell Drives prices, the asking price of 6397 Myrtlewood Drive of $970,000 is a very close estimate of what 6397 Myrtlewood Drive SHOULD sell for. The $970,000 asking price is a reasonable 21% over the same property's late 2005 price.
To show this continued rise in home values in Cupertino, I plotted the actual sales data in a 10791 Brookwell Drive Chart and a 6397 Myrtlewood Drive Chart. Even during this downturn in real estate, Cupertino Castlewood Neighborhood values are up 20% over mid 2005 prices.
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