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Old 06-15-2007, 07:37 PM
 
89 posts, read 461,334 times
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How are things going there in general? Are there a lot of foreclosures? How long are houses on the market these days?

It seems like I am seeing houses sit on the market for months but I guess we are all dealign with the dropping prices.

Thanks for your comments.
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Old 06-15-2007, 07:55 PM
 
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There are plenty of foreclosures, but nowhere near as many as in some states. The low end of the market is not doing much. The middle to upper ends are still doing fine, and the median price just went up again.

The low end of the market is always the one that has less activity during a slump.

I think the average days on market here is less than 60, but again the low end is much longer.
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Old 06-15-2007, 08:13 PM
 
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I have a friend whose daughter sells real estate in the valley and she is starving there. She said houses are sitting and sitting. Plus people still think their houses are worth more then they are since the prices have dropped and they are in denial. I guess that would be common.
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Old 06-18-2007, 02:49 PM
 
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I saw a house on Pleasant Vista Drive that they were asking 1.3, then dropped to 1,199,000 and now it is 1,150,000. They are just way over priced compared to what you can get in that area for that amount. The house has sat for 8 months that I know of.I looked at homes in the area and there are alot of nice homes sitting. My friends daughter prints us out the lists and we can see who is sitting, how long and how much they have lowered it.

I think some of the newer areas seem to be moving well. I think once you get over 1 mil people want to see really top of the line upgraded appliances, major kitchen and bath rennovations, etc.

I think there are still some hot areas but there are alot of areas in need of a price correction.

Summer
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Old 06-18-2007, 03:38 PM
 
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Areas in need of serious price reduction: All of California.
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Old 06-18-2007, 04:50 PM
 
89 posts, read 461,334 times
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LOL you are right Luke!
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Old 07-08-2007, 07:18 AM
 
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I thought I saw a 5 bedroom home for $850K , 3000 sqf. I saw this on newhome.com. But it said starting at $850K.
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Old 11-25-2007, 04:46 AM
 
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Being a long time resident here, my wild guess is that's either a bigger townhome where you share walls with neighbours or in bad neighhoods like downtown San Jose. Did it say what area is in? I am curious and would actually recommend to friends if there is really such a deal. I know in Sunnyvale/Cupertino area, that's the price range for a new townhouse around 1300 sq feet.
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Old 11-25-2007, 07:11 AM
 
Location: Assisi, Italy
1,845 posts, read 3,972,928 times
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Quote:
Originally Posted by sc101 View Post
Being a long time resident here, my wild guess is that's either a bigger townhome where you share walls with neighbours or in bad neighhoods like downtown San Jose. Did it say what area is in? I am curious and would actually recommend to friends if there is really such a deal. I know in Sunnyvale/Cupertino area, that's the price range for a new townhouse around 1300 sq feet.
If you go to Free Custom Foreclosures Search -- Foreclosures By Email -- EmailForeclosures.com or Countrywide Foreclosures (REO) Blog - Housing Bubble

You can find a bunch of houses that banks now own and want unload. There is a 2500+ sq ft house in Los Gatos for 850k (asking). It is difficult to see things with your eyes tightly shut
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