The August edition of the study found that 36% of respondents said now is a good time to sell, up from 15% of respondents a year ago and 28% in July. However, only 18% of respondents said it is a good time to buy, down from 34% a year ago and 23% in July.
More buyers are hesitating to buy and more sellers are motivated to sell
The acid test is inventory, increasing or still decreasing?
You probably know more about the South Bay inventory situation, but up here, it seems like more inventory is coming online in pocket neighborhoods like the Sunset. I am focusing on just south of the Fab 7x7 and every home I have looked at has pended fairly quickly. That has not changed, one bit. A killer home that borders a mountain ridge practically was so hot that it garnered a dozen requests for disclosure packages pretty much immediately and got pended a day after the last Sunday open house. It is a trophy type kind of house (to have the view of a mountain range as your backyard) that someone just had to push all his/her chips in on. Not surprising, actually.
This is the house: https://www.redfin.com/CA/Sunnyvale/1129-Prunelle-Ct-94087/home/1376492
Is big side yard desirable to buy with small front and back yard ?.
It is all a matter of preference really and what you are used to and what you can afford, etc. I personally am dying for a decent sized backyard to host parties and do some gardening. Side yards to me don’t mean much (if I have it, great, if not oh well) because I am used to my neighbors being right up alongside of me. Other folks hate that completely and may want four sides of decent yard. Privacy is the key too, so if it came down to a big front or back yard, give me the backyard!!! Your children should not see an old Dragonboy walking around semi naked in the front yard…
Only slightly above Redfin estimate?
Already too expensive!!! Why buy a house like that in Sunnyvale when you can buy something in Palo Alto at same price?
If it is a rectangular lot, price is not too expensive. Is bad fengshui odd lot, have to shake my head. Guess he sold his FANG.
I didnt know there were feng shui principles that applied to the lot ( not house ). Learnt something today.
This is a simple case of listing agent putting up a bait price. Comps in the area that sold earlier in the year on smaller lots were listed at 1.99 and went for 2.4 so this is actually a “deal”.
There are better options at that price range. 2,000 sf 1-story house doesn’t benefit from a 13K sf lot. Once you are at 8K you should have decent privacy.
From an investment perspective, buying a 2.5M house in Sunnyvale looks bad.
Absolutely, it does. 2.5M should be used to buy into a neighborhood like Palo Alto. Or at least the Monta Vista side of Cupertino…
@sfdragonboy I think I know which listing you were referring to. Is it this one?
If so, yes, I am not surprised that it went so fast too.
I have certainly noticed that there are less listings that are labelled “Hot” by Redfin in the peninsula. But I am not sure if that is a meaningful measure of any sentiment. Good houses are still snatched up quickly.
Yes, it is!!! Very cool place. Now, my agent mentioned that the SF County Jail is nearby and of course the weather up this way is not usually very good (like this past weekend). Still, massive hordes of people there. I am anxious to see what this goes for.
4/3/1 2000 over 8000 SFHs in Cupertino are selling for $2.2-$2.5 mil.