Multiple Offers Are Back

There is a lot of talk in the media still about how bad the housing market is right now. I know that bad news sells newspapers, but enough is enough. I am a full time Realtor working in Santa Clara County and I can testify to you all that the market is picked up momentum. I have clients that are looking for the American dream right now. They are shopping for a 3 bedrooom/2 bath home in San Jose at a price range from $350,000 and down. Now, in the past, you might have said no way. But not in todays market. These types of properties are out there and ready for the taking. However, like anything else in life, timing is everything. My clients and I are seeing at first hand the return of the real estate market in Santa Clara county.

Most of the homes that we see at this price range are now pending sale. Meaning, the bank or the seller has already accepted an offer for the property. There are two, three and sometimes ten offers on bank owned properties in this price range. The competition for homes like the one my client is looking for has skyrocketed. Multiple offers are back.

So I would say that real estate is alive and well in Santa Clara County. Homes are selling and you can look to the MLS for proof. For those of you who have equity and are looking to move up. Now is the time to do it. Take advantage of low interest rates, lower purchase prices, and lower property taxes. Dont miss the boat. Opportunity is knocking at your door.