For owners at Santana Row, the potential to get back over $1000/SqFt is strong with any market pickup. For buyers with eyes on getting into the most well-known community in the South Bay, with rates low, now is an opportune time to do so.
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The 88 had a total of 13 sales in 2019 and just 10 in 2018. While 2018 consisted of just 3 2-bedroom units sold, 2019 saw significantly more opportunity to land one of 8 2-bedroom sales at the first sign of lower prices year over year since a slight dip from 2015-16 and before that since 2012.
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Axis has seen an average of 20 units sold each year over the past 5 years. 2018 at Axis resulted in just 13 sales and 2019 saw the second-lowest number of sales in the past 5 years.
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When the market is on fire and there are multiple offers on nearly every property, getting a ‘deal’ may mean getting your offer accepted at all. There are no gifts in this market.. the bright side of these rapidly appreciating values is that, from the time you get your offer accepted to when you close escrow, you may have already gained some equity.
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While condo communities and complexes often allow buyers to get a bit more size or a better location than they would be able to afford in the single-family home market, the concern is valid. People want to know if getting a condo that suits their needs is going to pay off in the long run - especially when compared to buying a single-family residence (SFR) that may be smaller or farther away.
Read MoreThere are major companies being financed to attempt to swallow up the home buying and selling market-based solely on how much (or how little) they are charging. As margins for agent services become increasingly razor-thin, we’re seeing a trend in which agents don’t really care about clients - because they increasingly deal in volume. Thus, who is really winning in this situation?
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