Realtor Ranjana Shreedhar
Call : 408.861.8026
10105, S De Anza Blvd.
Cupertino, CA 95014
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Tuesday, May 5, 2015

Do Real Estate Agents Under-Price Properties For Bidding Wars?

I frequently come across prospective buyers who hold the view that real estate agents deliberately price properties under the market to instigate a bidding war. I understand this  line of thinking, and while it is possible that this may be the case in some areas, I do have a bunch of points to make to help explain property pricing that can hopefully help. In my experience, there's a very different perspective to consider here. Many of us know this but may forget to recognize the fact that each house is different in terms of its condition, upkeep, upgrades, and location, and may not fetch the same price as the nearby house that just sold 30% over asking price, even if the house has identical square footage and lot size as yours and perhaps even has the same updated look as yours. There's a lot more to pricing a home than just size of home.  

School Boundaries

An angle to think of is school boundaries. Many homes are in a situation where crossing a certain boundary means another city's school district that may not be at the same comparable level as the sought-after school district on the other side. This means homes selling for hot prices just a block away may not mean that the same may come true to the home involved in the lower scoring school district. Many parents would give up on their list of preferences if the school district alone were to be a super stellar performer. 

Home Related Aspects

Additionally, factors such as the age of home, the level of upkeep, amount of repairs and upgrades needed to bring the home to a move-in condition, and direction of the home and resultant natural lighting, curb appeal, landscaping, etc come into play when considering pricing of a home for sale. For instance, even with all of these factors working in your favor, extraneous factors such as unsightly electric, phone and cable company wires criss crossing your home's backyard or a large electric tower close the house or a gas station close by are factors than have the potential to affect the pricing of the home. 

Sudden Market Moves

One other important factor is that pricing a home at the right level with some margin of defensiveness always protects the seller from sudden moves of the market where prices or demand moves down rapidly. For instance, in just a couple of weeks in 2014 when interest rates rose, albeit for a short period of time, many homes sold at much lower prices and with lower number of offers than anticipated premiums over list price.

Market Drivers

It is a considerable challenge for the real estate agent to price a property way lower just to attract high premiums. Its what the market will bear to offer. If there is an excess of buyers to number of homes available, bidding wars are an expected outcome. If there is significant moneys coming from international buyers, and low interest and low dollar values are the going trend, then this will over run any local demand and result in premiums. These market factors are a reality in the Bay Area. 

The Right Kind of CMA

Considering all of the above factors and more, an indepth comparative market analysis is prepared by a professional Realtor (not a standardized generated document) to present a well thought out comparison of nearby sold properties factoring in the differences, and pros and cons with respect to location, condition, schools, amenities, upkeep, etc in order to arrive at a recommended price range. I make it a point to visit all homes on sale in a neighborhood to learn everything about what is good and bad about the homes, in order to ensure easy comparisons for any upcoming listing of mine. This helps me put my best experience and expertise to work for you to price your home at a level that can attract significant interest and help sell at a good price. Even in the current sellers' market, there are some homes that are sitting for a long time specially because the pricing has not been done well. Price it appropriately and you have a winner. Don't hesitate to reach out for a friendly no obligation call.

Call me at (408) 861-8026 for your home evaluation! 
Author: Ranjana Shreedhar, Realtor. Contact me through Email or on phone (408)861-8026 or through the handy contact form on this page.

Saturday, April 18, 2015

West San Jose 95129 Median List Price Trends 2015 versus 2014

West San Jose 95129 real estate market shows rapidly growing price trend

West San Jose (95129) real estate area has had a great run over the last year with overflow demand from Cupertino spilling linearly across the neighborhoods, especially where schools are part of Cupertino school district. However, the demand has been strong enough to boost prices in non-Cupertino school district areas of West San Jose real estate market mainly driven by hi-tech business growth, low interest rates, lots of international buyers and low inventory. 

There are many measures and statistical dimensions to analyze trends and present them in a cogent way for you to get a sense of market's trajectory. In this blog entry I present the comparative Median List Price Trends between the first 3 months of 2015 and corresponding numbers for 2014 to get a sense of how much the market has moved in a year. 
West San Jose (95129) Real Estate Median List Price Trends
West San Jose (95129) Real Estate Median List Price Trends 
As can be seen from the above chart, the 2014 numbers were far lower in the first three months of 2014, when compared to the first three months of this year 2015. 

In Jan 2015, we saw a 50% rise in the Median List Price of homes when compared to Jan 2014.  

The price in Feb 2015 shows a significant drop from Jan 2015 by about 20% but when compared to the figures of Feb 2014, there is actually a 20% gain in Feb 2015. There can be many reasons for the same. Please let me know if you are interested in learning more about this and I can tailor information for you. 

In March 2015, the Median List Price rose from Feb 2015 by another 11% to $1,450,000 thus showing a rapidly rising trend in List prices in the area.  When compared to March 2014, the rise in Median List prices is 20%.

NOTE: the above figures are LIST prices and not SALE prices which have their own interesting trend.  

We believe that the trend towards higher List prices will continue as long as low interest rates, low inventory levels and buying interest from local and international buyers continue to happen while the economy continues to grow. Unless one of these factors takes a hit, we do not anticipate a drop in prices. 

If you are looking for the sales trend numbers or would like to discuss either Selling your home in the neighborhood or buying your home/investment property in the West San Jose real estate area, please do not hesitate to contact me for a no-obligation discussion. 

I bring to you my experience and expertise in pricing, staging and home prep, negotiations, offer management, coordination with Escrow and Banks, consistent communications, and commitment to exceptional service. I help both buyers and sellers with achieving their real estate objectives. 

Author: Ranjana Shreedhar, Realtor. Please contact me through Email or on phone (408)861-8026 or through the handy contact form on this page.

Friday, April 17, 2015

Cupertino Real Estate Median List Price Trends 2015 versus 2014

Cupertino Median List Price Trends Show Steadying Price Levels 

Cupertino's real estate market is traditionally a sellers' market - at least that has been the case for well over a decade now. Over the last 3 years, the market has seen an inflow of fairly consistent foreign buying with many cash deals. In addition the low interest rates have boosted buying demand and hence home prices have risen to record levels. Besides, Cupertino boasts of top class public schools that count among the top in California state. 

There are many ways to measure the market conditions and trajectory. In this blog entry I share the trend measured by the rate of change of List Price taking the Median. The chart below shows 2014 Median List price levels in blue and 2015 levels in green. 

Cupertino Median List Price Comparative Trend 2015 versus 2014
As can be seen, the 2014 trend showed that between Jan 2014 and Feb 2014, there was a rapid rise of 15% in List prices, and between Feb 2014 and March 2014, there was a rise of 11%.  In the current year 2015, the median list price in Jan was at $1,248,000 that, in Feb 2015, grew by a whopping 28% within a month. But in March 2015, one can see that there was some stabilization in that the median prices stayed around the same levels albeit a tad lower at $1,595,000. 

The outlook for the next few months is dependent on how interest rates move and whether high prices are sustainable in attracting more buying from overseas and local buyers. Additionally, inventory levels will play a huge role in dictating the direction of prices. If the interest rates and inventory stay low, one can expect continued rise in prices albeit by relatively smaller percentage points. 

As always, please do not hesitate to ask any questions about real estate and about your own neighborhood or home. If you are in the market to sell your home, I offer my expertise in pricing, staging and home prep, negotiations, offer management, aggressive online and offline marketing and much much more. If you are in the market to buy your home or investment property, I can make it happen for you. 

Author Ranjana Shreedhar, Realtor: 
Contact me through Email or on phone (408)861-8026 or through the handy contact form on this page.`

Thursday, April 16, 2015

Sunnyvale 94087 Median Home List Price Trends 2015 vs 2014

Sunnyvale 94087 shows continued listing price rise

Buyers and sellers alike look for real estate pricing trends for the city of their interest especially when the city is hotly in-demand due to facilities, closeness to highways, workplaces and great schools. 

Sunnyvale's 94087 real estate area is such a hotly in-demand locality and median List prices are showing a rapidly growing trend even after two continuous years of price growth. The graphic below shows a side-by-side comparison of pricing for each month in the first quarter of 2015 versus the corresponding months in 2014. One can see that although January 2015 was a tad lower compared to Jan '14, the price trend quickly moved up to beat last year's list price trend for February and March. 
Sunnyvale 94087 Real Estate Median List Price Trend 2014 vs 2015
Sunnyvale 94087 Real Estate Median List Price Trend 2014 vs 2015
Note: The above chart is the median LIST price trend and not SALES price trend which will show a much higher median number and a higher trend. 

As always, your comments and questions on real estate are most welcome. Contact me for all your real estate needs be it to price your home to sell or to understand real estate trends in your favorite Bay Area city for investment properties or for buying your home. 

Author Ranjana Shreedhar, Realtor:Contact me through Email or on phone (408)861-8026 or through the handy contact form on this page.

Monday, February 2, 2015

Latest Cupertino Townhome Condo Sales Trends

Hello Readers
Cupertino real estate market's most attractive segment is the Townhome and Condominium market for good reason. First time homebuyers rely on this segment a lot to gain an entry into the world of home ownership and begin their journey to achieve there real estate dreams. From a pricing standpoint, the Cupertino Townhome and Condominium prices makes this market accessible to the buyers. How is this market segment doing? 


Lets review. For most part, the market continues to show tremendous demand even as prices have reached dizzying proportions. The thing that keeps the demand above supply levels is the supply levels itself. There is a acute shortage of homes in this segment. This segment also attracts a lot of investor interest who would eventually rent the property out. As Spring season comes in, it is hoped that more inventory will make its way making more choices available to buyers. It also means that sellers who are not yet decided on whether to sell or not, may see increased competition from more homes selling as the home selling season comes in. 

Here are recent sales of Townhomes and Condominiums in the Cupertino Real Estate Market area. 
Cupertino Townhomes and Condos Latest Sales

As can be seen, most sales are above list prices although in some cases, the homes have been on the market for a lot longer than the average days on market for Cupertino. Also notice that there have been very few homes listed and sold from September, 2014 till January 2015. 

Conclusion: 
If you are looking to sell your home, take advantage of the limited inventory to get maximum exposure to all buyers in the market. I can help you every step of the way to achieve a successful sale. Please do not hesitate to contact me at (408) 861-8026 for a free, no-obligation consultation to discuss the sale of your home. 

If you are in the market to buy, your decision to invest now could make a huge difference with respect to building equity and continuing to pay rent i.e paying someone else's mortgage. Historically, low interest rates are a once-in-a-lifetime opportunity to take advantage of and to start building your equity.  I can help you select the right home for the right price without pushing you in your decisions while guiding you every step of the way. Call me at (408) 861-8026 to setup a suitable time to discuss your real estate needs. 

Author Ranjana Shreedhar, Realtor:
Contact me on phone (408)861-8026 or through the handy contact form on this page.



Monday, March 10, 2014

Cupertino Real Estate Trends, Recent Home Sales - Feb 2014

For latest neighborhood information tailored to where you live or where you want to buy, please contact me through the Contact Ranjana tab on the right side bottom of the page. Or call me at (408) 861-8026 and I will be happy to work with you on your real estate needs. 

Cupertino Real Estate Market Status

Cupertino's housing market  has shown tremendous resilience right through housing downturns and during the recovery period. Cupertino has turned hotter during the early 2014 and even during the winter months. Recent Sales in Cupertino, number of days to sell a Cupertino home, and traffic at open houses of Cupertino homes on sale, are revealing interesting information on how much demand for homes there is in this remarkable Cupertino city.  Is demand continuing to be hot or not ?  

Get The Latest Cupertino Real Estate Market Report

Get the latest Cupertino Real Estate analytical report tailored to your home/neighborhood.  Get recent home sales trends including price per sq ft, days on market, sales price over list price, and more, based on data direct from MLS  

Don't buy or sell your home in Cupertino without going through this extremely useful information. Be prepared with more information than less.  Work with a Realtor who understand market trends inside out. Why? Pricing is the one of the most important decisions you will take in the sale of your home.








Receive latest Cupertino market analysis for your home 

From Realtor Ranjana

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If you are looking to sell your Cupertino home or in any other Bay Area city, please do not hesitate to contact me at (408) 861-8026  to get the advantages of local market expertise, negotiations, contract expertise, consistent communications, and being available to you all the time throughout the transaction. My goal is "Real Estate made Real Easy"!  

Author Ranjana Shreedhar, Realtor, Coldwell Banker Residential Brokerage
Contact me on phone at (408)861-8026 or through the handy contact form on this page.

Thursday, February 27, 2014

Sunnyvale's Old Orchard Neighborhood Home Sales Trends

For latest neighborhood information tailored to where you live or where you want to buy, please contact me through the Contact Ranjana tab on the right side bottom of the page. Or call me at (408) 861-8026 and I will be happy to work with you on your real estate needs. 

Homes in Sunnyvale, CA's Old Orchard, Cherry Chase and broader 94087 areas have been consistently selling over list price. Recent sales in the area have shown continued great demand from buyers given the low interest environment. Clients often ask me how long demand and sales over list price trends will continue. 

The answer is with the Feds. The January 2014 Federal Open Market Committee meeting minutes showed the Fed’s commitment to tapering easy money policy by $10 billion each month. They also mentioned that the first Fed rate hike might be possible towards middle of 2015 if economy continues to grow. The markets would discount this possibility much earlier. With higher interest rates, a large number of buyers will lower their target price range.
Sustained demand in our neighborhoods is expected to continue as long as interest rates stay low. For Sellers, the big advantage right now is that there are not many homes on the market and hence, could fetch handsome gains.  A Golden Opportunity you don't want to miss! 


And if you are concerned about trading up to buy another home, I specialize in move-up buyers as well to get you your next dream home leveraging my industry contacts.

Now let's take a look at the trends. The graphic below shows you what List Price range attracts the most extra dollars in the Sale Price. The $1 million to $1.2 million range attracted the most over the last 6 months going back from Jan 2014 to Aug 2013. The rest of the ranges show interesting fact that upto $1.6 million range, most homes sell over the list price. Note these are averages and your milage may vary. 

Sunnyvale Old Orchard Neighborhood Price Per Sq Ft Trend
Sunnyvale Old Orchard Neighborhood Price Per Sq Ft by List Price Range (Avg six months)

The Trend below shows the price per square feet in the Old Orchard neighborhood. Over the last couple of years, the price per sq ft average has jumped from around the low $500s to above $700 per sq ft indicating a very hotly in-demand location due to its closeness to all amenities and top Silicon Valley employers such as Google, Facebook, Apple, LinkedIn and many more. 

Sunnyvale Old Orchard Neighborhood Price Per Sq Ft Trend
Sunnyvale Old Orchard Neighborhood Price Per Sq Ft Trend 
Here are the most recent home sales in Sunnyvale's Old Orchard neighborhood. A cursory glance shows you how hot the market it in this neighborhood.

Sunnyvale Old Orchard Neighborhood Recent Home Sales
Sunnyvale Old Orchard Neighborhood Recent Home Sales


Thinking of Selling Your Home? 

I'd Love To Talk To You!

Receive a free, no-obligation market price evaluation of your home.
From Realtor Ranjana.

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Please Call (408) 861-8026


If you are looking to sell your home in the nearby areas of Sunnyvale, this is a good time to do so given the limited number of homes on sale competing for the buyer dollars. Please give me a call at (408) 861-8026 for a no-obligation consultation to discuss selling your home.

Ranjana Shreedhar

Thursday, March 14, 2013

Sunnyvale 94087 Real Estate Market Trends, Recent Home Sales updated to March 2013


Just a quick note to readers that I have just updated the Sunnyvale 94087 Real Estate Market Trends and Recent Home Sale Blog Entry with statistics, charts and analysis upto end of February 2013.
 
Subscribe to my blog to be notified of updates to market trends, tips, analysis and recent home sales.

Author Ranjana Shreedhar, Realtor:

If you are planning to Sell your house, learn how to make the most for your house in this market and to attract the best offers for your valuable property. Call me for a no-obligation evaluation, and a listing presentation.
 
Contact me through Email or on phone (408)861-8026 or through the handy contact form on this page.

Wednesday, March 13, 2013

Cupertino Real Estate Market Trends, Recent Sales Updated for March 2013

Just a quick note to readers that I have updated the Cupertino Real Estate Market Trends And Recent Home Sales Blog Entry with March 2013 statistics, charts, and analysis.

Subscribe to my blog so that you will get update notifications of these blog entries. 

Author Ranjana Shreedhar, Realtor:

If you are planning to Sell your house, learn how to make the most for your house in this market and to attract the best offers for your valuable property. Call me for a no-obligation evaluation, and a listing presentation.
 
Contact me through Email or on phone (408)861-8026 or through the handy contact form on this page.

Wednesday, March 6, 2013

Saratoga CA Real Estate Market Trends and Recent Sales

Saratoga Real Estate Market Gathers Strength in early 2013

Saratoga Real Estate Market Trends: Avg # of Days On Market vs Sale Price To List Price Ratio in %
Saratoga Real Estate : Avg # of Days On Market vs Sale Price To List Price Ratio in % *
*Source: MLS Listings : Data considered reliable but not guaranteed to be accurate. 
For latest neighborhood information tailored to where you live or where you want to buy, please contact me through the Contact Ranjana tab on the right side bottom of the page. Or call me at (408) 861-8026 and I will be happy to work with you on your real estate needs. 

The real estate market in Saratoga, CA typically consists of relatively large homes with large lots, amidst picturesque backing of the Santa Cruz mountains. Most homes here, are priced well over the million dollar mark. The city streets are designed to smoothly transition into one another giving it an upscale and streamlined look besides the green verdant landscape and beautiful homes that are part of Saratoga. Saratoga is considered to be an upscale part of Silicon Valley. Saratoga has some of the best schools while many neighborhoods in Saratoga are in the Cupertino School District.

The Saratoga real estate market has seen some great demand over last year with most houses selling within weeks except for a few that stayed in the market for many months. As a result, the Average Days on Market trend is a bit skewed towards the higher end. 
That said, the above chart shows a fairly active market for Saratoga in February 2013 wherein, the Average Days on Market number (Red line) was down to 37 from a high 69 in January 2013. The Average Sale Price Over List Price Ratio (Blue columns) shows an premium of 101% over List Price in February 2013, indicating that some houses were selling over list price. However, many houses in Saratoga are selling around List Price, particularly the ones that have stayed in the market for a while. These numbers are comparable to April 2012 timeframe when the Saratoga real estate market had begun picking up steam with low inventories. During subsequent months last year, we saw better inventory coming in, keeping prices relatively stable.

Saratoga Real Estate Recent Home Sales

Here are some recent home sales in Saratoga, CA with the List Price shown in Blue and Sales price shown in Green when homes sold over List Price and shown in Red when homes sold below List Price.

If you are planning to sell your home and are looking for your home's specific Price analysis, please do not hesitate to contact me at (408) 861-8026

I will provide you a very focused pre-listing evaluation of your home.




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Author: Ranjana Shreedhar, Realtor

(408) 861-8026