Cupertino Market Conditions October 2007

It's in the newspaper again, plastered all over the front page of the San Jose Mercury News:OK '08 seen for Bay Area real estate:LESS IMPACT FROM SUBPRIME LENDING WOES. The article goes on, essentially, to say that the Bay Area is expected to do better than the rest of the country because we suffered less gain during the boom. Because our real estate gained less, it is expected to fall less. Makes sense, but it goes on further to state that our area relied less on sub-prime loans to purchase homes as well.

Perhaps the article is correct and perhaps it is not. But I like to rely on data and facts. Here is data from the past 15 months to give us a snapshot of Cupertino's market. The Single Family market is doing very well, with supply never out-pacing demand by a significant margin. The past year, which was horrible for many areas, was unremarkable for Cupertino.

The condo/townhomes market performed fairly well until the last couple of months, when the demand decreased and supply increased dramatically.

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Steve Mun, Silicon Valley Realtor
www.stevemun.com

Homebuyers Guide Part 6

Here is an interesting list of who pays for what in Santa Clara County. This ends the series. Hope you found it to be useful.


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Steve Mun, Silicon Valley Realtor
www.stevemun.com

How's the market?

As a Realtor, this is perhaps the question most frequently asked of me. Someone asked me this at a friend's BBQ over this weekend. I had to tell him: "it depends on the specific market, but properties are not moving as quickly as they did the same time last year but prices are not falling as people would expect" was my response. To illustrate this point (and perhaps to give him some supporting data now), here are two areas (Campbell and Cupertino) and how they have been doing recently.

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Steve Mun, Silicon Valley Realtor
www.stevemun.com