In Silicon Valley, multiple offers to purchase a home are often received within a short time period. A seller cannot respond to multiple offers by sending a simple counteroffer to each potential buyer. The seller needs to make a “multiple counter offer”. The seller may choose to send a “multiple counter offer” to some or all of the potential buyers.
Our local Association of Realtors has standard forms which are normally used by the seller.
In the first and second quarters of 2022 Cupertino house prices reached an all-time high as buyers purchased before an expected interest rate increase. Prices then dropped until the first quarter of 2023. Then, even during a year of interest rate increases, house…
Recently JLee Realty began plotting median days on market in addition to average days on market for homes for sale. The median plot emphasizes the change that began around 2012. The median days on market stays very low with only occasional bumps up. The average dom…
Tech employment was reported to be up by 2% at the peak of the pandemic layoffs (2nd qtr 2020). In contrast, employment in arts, entertainment and personal services was down by more than 50%. More Silicon Valley companies went public last year (24) than in any of the…
Proposition 19, takes effect on April 1, 2021. It is estimated to increase tax revenue overall. It increases taxes on inherited properties that are used as either a second home or as income properties. It provides more opportunities to save taxes on primary residence…
For many years there has been an interesting challenge going on between potential home buyers and real estate agents listing a home for sale on behalf of a homeowner. Potential buyers will approach the listing agent and want that agent to also represent them to make…
The plot of both average and median quarterly Cupertino house prices will generally alert you to unusually high or low prices by the separation between the average and median prices changing.
Changes in the Cupertino real estate market typically create significant changes in the sales price to list price. The list price is set by looking at recent sales prices. The comparison shows how well sales prices follow expectations.