San Jose Real Estate * REALTOR ® * Richard Gonzalez » June http://Siliconvalleybrokerblog.com Living in the Silicon Valley - News, Views, and Statistics Fri, 13 Apr 2012 16:10:14 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Santana Row Sales for May June July 2010 Half of 2009 Levels http://Siliconvalleybrokerblog.com/2010/08/03/santana-row-sales-for-may-june-july-2010-half-of-2009-levels/ http://Siliconvalleybrokerblog.com/2010/08/03/santana-row-sales-for-may-june-july-2010-half-of-2009-levels/#comments Wed, 04 Aug 2010 01:33:20 +0000 Richard Gonzalez http://rgonzalez.blogs.rwnetwork.com/?p=955 Click Player to see video

Sales activity lighter than 2009

Santana Row area neighborhoods continue to show lower activity after the homebuyer tax credit expired in April. Buyers continue to pay list price on homes sold in these neighborhoods but the activity has been half of 2009 levels. In 2009 there were 114 sales compared to 54 in May – July 2010.

Conventional is king

Conventional sales were the predominant financing method used to purchase homes following the same pattern of 2009. FHA continues to be in the least used or accepted financing method by sellers when reviewing offers. Buyers should consider conventional loan products to increase their chances of getting an accepted offer.

Median rises in 2010

2010 median sales prices was $610,000 compared to $533,500 in 2010. Buyers also had more negotiating power in 2009 to 97% of original list. 2010 buyers are having to pay slightly more to 102% of original list making it 5% more expensive to buy a home in these neighborhoods.

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