Multiple offers in Cupertino
The market is really heating up, perhaps nowhere more than in Cupertino. In the month of March there have been numerous properties that have gone under contract in Cupertino with an astonishing number of buyers vying for the same property. Here are just some of the data points our office has been able to piece together. They might not be exact because this data was collected from calls and networking but they are representative of the level of activity in the market:
19773 Wintergreen Listed at $974,888 Sold for $1,120,000 20 offers
1570 Bonnie Joy Listed at $938,000 Sold for >$1,030,000 17 offers (2 ALL CASH buyers, close in 5 days)
7428 Tiptoe Listed at $1,150,000 Sold for >$1,200,000 10 offers (4 ALL CASH buyers)
7572 Lockford Listed at $999,000 Sold for ~$1,050,000 9 offers
7912 August Listed at $998,000 Sold for ~$1,030,000 5 offers
10445 Westacres Listed at 969,000 Sold for ~$1,050,000 10 offers (Totally fixer upper!!!)
801 Betlin Listed at $888,000 Sold for ~$950,000 5 offers (2 ALL CASH buyers)
5073 Shady Listed at $899,000 Sold for $970,000 13 offers
10607 Glenview Listed at $1,099,888 Sold for ~$1,150,000 17 offers
21330 Columbus Listed at $1,298,000 Sold for ~$1,330,000 7 offers
10250 Mann Listed at $895,000 Sold for >$1,050,000 30 offers
883 S. Tantau Listed at $685,000 Sold for $740,000 9 offers
76 Arcadia Listed at $768,000 Sold for ~$840,000 27 offers
To all of you sellers, hear this, it is an incredible time to be selling. To all of you buyers, selecting an agent who has the skills to get your offer accepted in this competitive buying environment is paramount. Some buyers think discount agents who rebate a percentage of their commissions are the way to go. But the likelihood is that a discount agent, will not help you win in this tough battle. X percent rebate of zero wins is still zero if your offer is not accepted. Be wise and pick an agent experienced in winning in this environment. Oh why yes, I am one of those experienced agents. Call me now and I can help you develop a winning strategy. Connie 650-279-7074
Another Homebuyer Tax Credit for Californians
Late this afternoon, Gov. Schwarzenegger signed Assembly Bill 183, the Homebuyer Tax Credit legislation, into law. AB 183 will provide $200 million for home buyer tax credits, allocating $100 million for qualified first-time home buyers of existing homes and $100 million for purchasers of new, or previously unoccupied, homes. The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).
The positive impact of the federal home buyer tax credit is clear. Nearly 40 percent of first-time home buyers said they would not have purchased a home if the federal tax credit for first-time home buyers was not offered, according to C.A.R. research conducted last year.
The state’s previous home buyer tax credit program was so successful that it ran out of tax credits by the end of June 2009, eight months before it was set to expire and just as housing markets appeared to be turning a corner. Unlike last year’s legislation, AB 183 adds a tax credit for the purchase of an existing home by a first-time home buyer.
Why I Love Real Estate: On 1031 Exchanges
Eleven years ago I left my high tech marketing job for the world of real estate. The huge difference in careers for me is the personal connection I can make with my clients and how I have a immediate tangible feedback of how I make a difference in their lives. Here are some really nice words written by a client of mine who hired me to help them with some of their real estate investments. It is so nice to be appreciated. Thanks Diane. XOXO.
We wanted to sell our single-family home investment property in Cupertino and purchase a multi-residential building on the Peninsula. I had known Connie through volunteering at our children’s school. Thinking she would be as diligent in real estate as she was in her volunteering, we hired Connie. She exceeded our expectations. We were worried how the market would react to our Cupertino home as it was on a busy street. Connie led the efforts to make sensible updates to the home prior to putting it on the market and did a fantastic job in the contract negotiations. We ended up getting multiple offers and selling the home for more than we expected. On the buy side, Connie sent a mailer to all apartment building owners whose property fit our criteria. When we found the apartment building we wanted, we felt that she looked out for us, making sure all the information we needed to make a purchase decision was there before we committed, and we got the building for under asking price. She managed the 1031 Exchange coordinating with the exchange and title companies without a glitch. We were very pleased with Connie’s service. We’ve been recommending Connie to everyone who has mentioned selling/buying, including our neighbors, who recently said they were thinking about talking to a few realtors to see what they might get for their house, and the next thing we knew the new owner is moving in, and we’re pretty sure our (former) neighbors never talked to another Realtor after they met Connie! If you’re thinking of selling/buying, just take a few minutes to talk to Connie and you’ll be convinced that she can represent you brilliantly. Diane and Harold Wachs – Los Altos Hills
About Me
Connie Miller
- Trusted
- Experienced
- Proven Negotiator
Contact Me. I can help.
Email or phone 650-279-7074