Today is the first time in Santa Clara County since July 2005 that there are more homes with a 'sale pending' status than an 'active' ("for sale") status. That is just under 4 years since the last time this occurred. View the graph here.
The good news evident from the data in this graph is that more and more homes are making it to 'pending' status, which means that the lending side of these transactions has finally started to proceed more smoothly again.
We are entering the busy Summer months for residential real estate activity. With fewer homes on the market, there may be quite a lot of competition among buyers for the most desirable properties for sale. It will be crucial to have homes priced to sell, which will create opportunities for a multiple offer situation. I am highly experienced in negotiating this type of situation involving multiple counter-offers to get my clients the best dollar value for their home. Contact me to find out what your home is worth in today's market.
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