85 homes are currently active and available for sale in the Santa Clara area.  85 homes sounds like plenty to any reasonable home buyer looking for the “right home” wouldn’t you think?

Apparently not is what many buyers are saying.  As some homes are experiencing high demand and multiple offers a large portion of the market is just languishing.  Even so-called great deals like bank owned homes or REO’s are sitting on the market with no buyers.  In fact 30% of the current available inventory, or 25 homes have been languishing for over 2 months.

Short sales and Bank Owned homes are making up approxmiately 30% of homes for sale in Santa Clara, about 27 homes total (15 short sales, 12 REO).  What seems to be rare and hard to get a hold of in Santa Clara are good homes.  Good homes in good neighbhorhoods or just quality homes in average neighbhorhoods are selling and selling quickly. 

So buyers out there be aware that if you see a home in good condition in a good neighborhood in Santa Clara, chances are that things may get competitive and the sale may end up with multiple offers. 

Sellers if you are currenlty on the market or thinking of selling, be prepared to spruce up your home a bit to attract those buyers and price competitively to attract more than one buyer.  If your home doesn’t show well and you don’t want to do the work prepare to get a low offer.  To sell within a reasonable amount of time will need to entice buyers with a so-called ‘deal’.  I know seller’s don’t want to hear that, but thats what it will take to get that buyer interested.  Otherwise you will be with the 30% of the market that is languishing.

Either way you will need to know what price is right, and for that you should give me a call.  Happy selling.