Cupertino Properties

Hold on folks, the sky is not falling! Despite the lousy financial and employment news that keeps streaming out of the news media things are behaving like they normally do this time of year. The market has morphed slightly in recent weeks and has taken on a more relaxed pace. Multiple offers were common in recent months, especially in the lower price range. Realtors always like to boast about how they worked their magic and create this environment favorable to induce this event. The truth is that these homes these Realtors brag about are mostly priced in the “lower” range. There is and always has been a huge demand for these homes. Lower price range for this area is a relative term, and usually refers to homes priced below $1.3M.

The Cupertino market inventory earlier this year was holding steady at about 50 homes available at any given time. This has changed dramatically in recent weeks, with the current inventory now at 82 homes for sale. Again, nothing out of the ordinary is causing this. Admittedly, the rise in inventory has coincided with considerable amounts of dreary news in the financial markets. On the other hand, one thing that is predictable in our market, year in and year out, is that our market inventory always peaks at summer’s end. It should begin to decline now that we are entering the fall season. There is always an ebb and flow to our market. Arm chair real estate analysts are always trying to figure it out. Not much to ponder here. There is a huge demand for homes in upscale neighborhoods near the nation’s top rated schools. My bet is that we will see the market heat up again soon! Please don’t confuse this with a prediction that prices will rise sharply, but, I do think you will see the pace of sales pick up.

10425 Alicia Ct., Cupertino CA, 95014
5 Bed, 3 Bath, 2,852 Sq. Ft., 11,000 Sq. Ft. lot, Top Cupertino Schools: Stevens Creek Elem., Kennedy Middle, Monta Vista H.S!
Offered at $1,588,000

11248 Catalina Court, Cupertino, 95014

Captivating Contemporary Style Home. Distinctive Sedimentary Stone Siding and Columns Evoke Charm of Carmel Village. Dynamic Split Level 4 bedroom, 2 1/2 Bath Floor Plan, Formal Dining Room, Formal Living Room, 2 Car Garage, 1,968 square feet of Living Space on 7,800 Sq Ft Lot

Offered at $1,368,000

10231 Amelia Ct., Cupetino, CA 95014
New listing price of $2,430,000!

21520 Addington Ct., Cupertino, CA 95014
For further information on this beautiful Cupertino home contact John Dozier at 408-996-0514..

11650 Regnart Canyon Road, Cupertino CA 95014 will be open for tour tomorrow 6/2 from 9:30am to 1:00pm, everyone is invited to stop in and take a look! The home of Cupertino legend Herb Regnart.

City Light View Country Ranch

Home of Cupertino Legend Herb Regnart

• 11650 Regnart Canyon Road, Cupertino CA 95014

• 2 bedroom, 2 Bathroom Home, Carport, 1,740 Sq Ft of Living Space, 1.13 Acre Parcel of Terraces and Hillside Slopes.

• Built in 1960. Home is in Original Condition. Expand, Remodel or Build New.

• Spectacular Views of Silicon Valley and Surrounding Foothills Adjacent to Fremont Older Open Space w/Miles of Hiking and Riding Trails

• Entry Foyer Opens to Living Room w/Cathedral Ceiling

• Massive Slumpstone Raised Hearth Fireplace

• Living and Dining Rooms With Floor to Ceiling Glass w/Dramatic Valley Views

• This is “As Is” Sale. All Inspection Reports Available Upon Request

• Top Rated Cupertino Schools: Mt Vista High, Kennedy Middle, Regnart Elementary

• Offered at: $1,328,000

10231 Amelia Court, Cupertino 95014 will be open Sat 5/21 and Sun 5/22 from 1:30 to 5:00, everyone is invited to take a look at this magnificent new home!!

10231 Amelia Court, Cupertino
Photos and Virtual Tour are also up in the Homes for Sale section.
Virtual Tour link: http://www.bluskymedia.com/client/jodo/amelia
This property will be open from 9:30am to 1:00pm tomorrow 5/19, everyone is invited to stop in and take a look at this perfect new home!

Gas prices still sky high while home loan rates hit bottom

Interest rates for conforming loans hit a new low for the year, bottoming at 4.6% for 30 year loans. Homes on the peninsula are still selling at an impressive pace, especially at the entry level for our market. In Cupertino, this segment is defined by homes priced below $1,300M. Homes in this price range usually have a “shelf life” of less than two weeks on the market before they are sold. The number of buyers outweighs the sellers by a large margin. Maybe it’s time to think about paying your real estate agent by the hour rather than paying standard commissions based on the time honored theory of his or hers valuable marketing service.

As gas prices continue to remain in the stratosphere it doesn’t take a genius to conclude that at some point every commodity that we find vital to our existence, including keeping a roof over one’s head is going to feel the brunt of it. At the grocery store, produce, meats, eggs have all crept up slightly in price. I feel just a little short of mad money than I did earlier this year before gas prices went up so dramatically. Maybe, I will put that new car purchase off just a while longer.

Meanwhile, there are rumblings that some counties in the greater Bay Area are poised for a double dip in housing prices. We certainly don’t see any signs of this here in Cupertino. Multiple bids on homes are still the norm at the entry level segment of the market. Not the same story at the luxury end of the market. In the more affluent communities, like Los Altos, Palo Alto, Menlo Park, the luxury homes are still moving quite well. Seems as though, those with the money are very willing to take the plunge and lay down $2 Million or more for their modest abode. In reality, what we are seeing in the upper crust of the market is really an alignment of sellers pricing their homes more in line with the expectations of buyers. This process has taken greater than 2 years to sort itself out. In recent years, sellers were stubbornly hanging onto their asking prices while buyers quietly paced back and forth on the sidelines. The buyers have finally won this battle. On a regular basis, I see multi-million dollar homes selling at prices below what sellers paid for them five and six years ago.

Spring has sprung. The word is that more and more homes will be coming on the market in weeks to come. If you are a buyer and have been waiting this out for the past few years, your time has come. Interest rates are at historic lows and finally you have choices in the market place.