Predictions for Sunnyvale, Cupertino


#785

Some would see that as convenience. It is far enough away from the freeways that noise pollution isn’t that bad.


#786

Sellers just didn’t want to pay staging I assume. This is all their own furniture.


#787

Zillow is showing “home value index” drop for may, through out bay area.
https://www.zillow.com/san-jose-ca/home-values/

I can’t see median home values yet. Could be just algorithmic change, too.


#788

Clicked the link and I see this


#789

ya, that’s what i mean.


#790

Ok, be sure to take advantage of this “dip” and get that $50k discount on your $3M purchase :rofl:


#791

it looks like 6% dude :slight_smile:


#792

Ok, that means rather than paying 30% over asking, you only have to pay $20% over asking now… :rofl:


#793

Yeah i am curious about june numbers, with a lot of house staying on market for long time. I heard a friend got a house at listing price for a nice home.


#794

You have read this way 22% - 6% = 16% YOY. This is what going to happen when market peaks and then drops.

This week closings, I noticed most of the 1M-1.25M LP homes are sold 200k more than LP.


#795

You have read this way 22% - 6% = 16% YOY. This is what going to happen when market peaks and then drops.

This week closings, I noticed most of the 1M-1.25M LP homes are sold 200k more than LP.


#796

We visited bunch of SFH last week and most of them are having their second OH this weekend. Is this normal for Sunnyvale? In Foster City this is rare for couple of years now. A new normal is established with every sale.

Plus we extended our search to Santa Clara. What are real nice neighborhoods in SC. We don’t care about good schools.


#797

7 days later, 12 homes available for sale.
4 new. 8 previous. So 9 out of previous 17 available are sold or delisted over the last 7 days.
Inventory has dropped over the last two weeks as sales pick up.


1082 Plymouth Dr 3/1/1 1154/6000 $1.71M May 03, 2017
1059 Plymouth Dr 5/2/1 1435/6000 $1.78M Oct 12, 2017
1062 Plymouth Dr 2/1/1 0848/6034 $2.00M Feb 20, 2018
1074 Plymouth Dr 3/2/1 1680/6000 $2.21M Mar 29, 2018
1118 Plymouth Dr 3/1.75/1 1433/6206 $1.888,888 Pending
1137 Plymouth Dr 4/3.5/1 2300/6000 $2.35M Active for 9 days


#798

this home went pending in 3 days. no open house.


#799

Some updates:

Looks like for larger lots especially >8K the interest is much more.

We got interested in one house last week but I couldn’t read the disclosures and other documents in time and we couldn’t extend the offer. Our REA told that she is expecting 10 offers. The house received <5 offers. None matched sellers expectation and the house is having another OH this weekend.

In Santa Clara for couple of SFH redfin estimates are lower than the list price. Don’t know if this was always the case. I have never looked in this market before.

I will research more and update.


#800

In city areas, large lots such as 8k+ or 10k+ homes, are always considered as premium. The main reason is extend-ability. Most cities allow max 45% of the lot as home size.

With 8k lot, we can build 3000 sqft single story homes easily.

If the homes are 10k+ lots, they are considered higher premium (better than 8k+) lots. Most of the competition will come from cash rich builders as they can build better home and get higher returns.

During 2004, without knowing this truth, I missed one great opportunity to buy a 0.25 acres lot Cupertino home just by 100k difference. I regret my ignorance ! It took 14 years to strike one 8k+ lot home now !


#801

Here is one with large lot at center of Sunnyvale


#802

But Reed ave is traffic road, less preferable.


#803

Here are some nice places to buy and build. They are sold for land value alone.


#804

Are these good areas to buy? Never looked into campbell before so dont know.