2nd Quarter Silicon Valley Market Update

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Want to buy a home? Search all homes for sale.

We're onto the second quarter in the Santa Clara County real estate market, so I wanted to give you a quick update.

When we last checked on the market, inventory was just over 1,000 homes, average price was around $860,000, average days on market sat about 69, and the interest rates were sitting around 3.75%. So what's happened since then? Well, we're entering a presidential election, and the Federal Reserve increased interest rates. People thought this would increase mortgage interest rates, but they actually came down a little bit.

Starting in the second quarter, homes on the market have gone up by 700, price is up to $931,000, and the average days on market has fallen to 41, and of course, interest rates are down around the 3.625% range for 30-year fixed mortgages. This means we're still in a seller's market, but there is some more inventory. In some areas, we're starting to see homes get fewer offers, but it's still very competitive and sellers are still getting top dollar quickly.

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Don't give up hope!

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If you're looking to sell, it's still a good time, and if you're looking to buy, there's more inventory for you. Don't give up hope! You just need to partner with the right agent.

Thanks again for your support. If you have any questions, please feel free to get in touch and we'll talk soon.

Can Zillow Give You an Accurate Home Value?

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Want to buy a home? Search all homes for sale.

We’ve been getting the question “Is Zillow an accurate place to find my home’s value?” a lot, and today we are going to explain how it works and what it is useful for.

Here’s what Zillow is good for. Number one, it’s probably the most widely-used commercially marketed real estate search engine. Studies have shown that 70-75% of buyers visit the site. Zillow also offers an automated home value feature that they call a Zestimate. Zestimates are good jumping off points, but they’re just estimates.

Zestimates do not take into account your property’s condition, or all the recent sales in your area. The algorithm can’t determine any updates or renovations you have done, and oftentimes it uses sold data that’s over a year old.

When a professional agent like one of us comes to your home, we are going to take notice of every detail, and assess your home on the current market using the latest sold data and up-to-date information. This will give us the best indication of where to price your home to sell for top dollar.

These are all things that should be taken into account when trying to pinpoint your value. Zillow is a great starting point, but if you’re looking to make a certain amount of money on your sale, you definitely want to contact a professional. If you have any questions at all, feel free to reach out to us via phone or email. We are always here to help.

How Can Security Systems Help Sell Your Silicon Valley Home?

Want to sell your home? Get a FREE home value report.

Want to buy a home? Search all homes for sale.

Today I have Angel Orozco from Skyline Security and he’s going to be talking about home security systems and how they can actually help your home sell in Silicon Valley. Skyline Security has been around for fifteen years and they specialize in all of the newer and more advanced security systems. Many of these are controlled via smartphones and they can be used commercially or residentially.

Technology is huge in security and Skyline offers fully automated technology. Using your phone to set your alarm is extremely convenient, and you can even lock doors with their app. You can secure your entire home from your phone. Motion sensors can detect movement and they also have sensors to detect glass breaking.

 
We have just formed a partnership with Skyline Security and anyone who buys a home from us will get a free installation from Skyline Security. If you have any questions, please don’t hesitate to reach out to Angel.

We look forward to hearing from you!