Hollister, CA Home Values Up 36%

home's appreciationThe average home value in Hollister, CA rose 36% over the last 6 months as compared to the same period last year (June to the end of Nov.)  Homes sold for an average of $421,798 this year vs. $316,894 for the same time last year in Hollister.

There are 3 indicators which provide some measurable reasons for this significant increase:

  1. The number of home for sale dropped from 323 in ’12 to 283 during the same 6 months this year.
  2. The average number of days on the market dropped from 54 last year to 44 days this year. That 19% decrease suggests a robust demand.
  3. Finally, the actual sale price was 102% of the asking price in the last 6 month where last year’s relationship of “asking and actual” was 99%.

Gilroy, CA has experienced similar appreciation.  The South County (Morgan Hill, Gilroy, Hollister and San Juan Bautista, CA) is a favorite ‘bedroom’ community for Bay Area employees.  Gilroy & Morgan Hill home values were just as impressive.

What does this mean for home values in 2014?  Probably more of the same.  Do you think we’ll see the same pace?  Are we headed for another bubble?  Watch the home loan interest rates.  Their direction will have an inverse affect on the rate of appreciation: if they go up significantly or, quickly, all 3 factors above should head in their opposite direction.  The rate of appreciation will slow or stop – depending on the severity of the rate changes.  Stay tuned.  It’s going to be exciting!

(data from MLSListings)

 

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Gilroy, CA Home Values UP 32%

4954639852_42897c0ca11The average home value in Gilroy, CA rose 32% over the last 6 months as compared to the same period last year (June to the end of Nov.).  Homes sold for an average of $611,850 this year vs. $462,083 for the same time last year in Gilroy.

There are 3 indicators which provide some measurable reasons for this significant increase: The number of home for sale dropped from 298 in ’12 to 267 during the same 6 months this year.  Classic “Supply & Demand, 101” is in play here.  The average number of days on the market dropped from 50 last year to 40 days this year. That 10% decrease suggests a robust demand.  Finally, we saw asking prices and actual sale prices were virtually the same this year as well as last year;  Two years now of firm sales prices.

Morgan Hill, CA has experienced similar appreciation.  The South County (Morgan Hill, Gilroy, Hollister and San Juan Bautista, CA) is a favorite ‘bedroom’ community for Bay Area employees.  Hollister and San Juan Bautista home values were even more stunning.  I will post their reports soon.

What does this mean for home values in 2014?  Probably more of the same.  Do you think we’ll see the same pace?  Are we headed for another bubble?

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Morgan Hill Home Values UP 27%

house value up graphThe average home value in Morgan Hill, CA rose 27% over the last 6 months as compared to the same period last year (May to the end of Oct.).  Homes sold for an average of $771,641 this year vs. $609,669 for the same time last year in Morgan Hill.

There are 3 indicators which provide some measurable reasons for this significant increase: The number of home for sale dropped from 282 in ’12 to 212 during the same 6 months this year.  Classic “Supply & Demand, 101” is in play here.  The average number of days on the market dropped from 64 last year to 35 days this year. That 45% decrease suggests a robust demand.  Finally, we saw asking prices and actual sale prices were virtually the same so far this year whereas, last year the recorded prices were 92% of the listed price.

Gilroy, CA has experienced similar appreciation.  The South County (Morgan Hill, Gilroy, Hollister and San Juan Bautista, CA) is a favorite ‘bedroom’ community for Bay Area employees.  Hollister and San Juan Bautista home values were even more stunning.  I will post their reports soon.

What does this mean for home values in 2014?  Probably more of the same.  Do you think we’ll see the same pace?  Are we headed for another bubble?

(data from MLSListings)

 

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San Jose 4th Fastest Turn-Around Values

This study shows San Jose, CA as the 4th of 10 top real estate areas in the US where home values continue to increase.

Likewise, the South County communities, who supply much of the employment for the San Jose area, have been experiencing the same appreciation.  Morgan Hill, Gilroy and Hollister’s home values have all risen proportionate to that of #4 in the nation, San Jose.

So, is this another inflating bubble?  Will we see another bubble burst?  What if the interest rates keep going up will that slow down the appreciation?  What if the bank’s bulging inventory of foreclosed homes came onto the market at a faster pace than the trickle of token homes we have seen over the last 14 months?

What do you think?

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Here is An “11” on 1-10 Scale.

Wow! 1458 Eagles Nest in Gilroy is a complete package. Watch this Video Tour and you will see what I mean.

The home itself is the best example of “Turn-Key”. It could be in Sunset Magazine.

Due to its Northwest location in Gilroy this 5 bed., 3 bath, home is an easy commute to San Jose.  It also lies within the famed Luigi Aprea Elementary and Christopher High School Districts.  A short walk takes you to Sunset Part where you have tennis courts, a playground and expansive lawns.  When you are back home you have your own, large, private backyard.  The best news: with all of these assets – there is no HOA Dues.

This is a traditional sale – NOT a so-called Short Sale or Foreclosure.  You can buy it and be moved in before Halloween.

Why not call/text or email me for your own, personal tour?  Or, tell your Bay Area friends to contact me. This one will not last long!

I look forward to your comments (below) on this wonderful home.

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Housing Values At The Bottom Yet?

Remember when we were on a road trip with the kids in the car?  What was the question they always got around to?  “Are we there yet?”

Nearly every day people ask me the same question relative to home values: “Are housing values at the bottom yet?”  The answer varies depending the area you are asking about.

In this article Forbes provides mixed answers:  homeowners in the San Francisco Bay Area may “be there”.  Other places in CA and around the country, however, may have a ways to go yet before their house-value-slide ends.

San Jose was specifically listed as one of the few metro area where values seem to have leveled.  This continues to be good news for Morgan Hill, Gilroy and Hollister home values.  With the majority of South County residents commuting up into the Bay Area, home values in these three cities will continue to follow San Jose’s lead.

So, Johnny, we’re there –  but we won’t be returning to increased values for some time to come.

Nice 4 bd., 2 bth., 16,500+ sq. ft. lot.

1291 Bonnie View Drive, Hollister: A completely remodeled, 4 bed. & 2 bath home on a 16,500 sq. ft. lot!

Watch the VIDEO Tour of this nice home.  You’ll note that nearly everything, even the plumbing, has been redone.  Have you heard the term: “turn key“?  This home is it.  Just put in the key and move right in.  There is virtually nothing left to do.

The wide side yard access to the huge back yard provides endless possibilities: A large garage/workshop, toy barn, pool etc. could easily fit into this back yard.  In the VIDEO you can see what the neighbor did with his same sized lot.

From this home you are less than a quarter mile from Hwy 25’s extension for an easy drive to Gilroy‘s Premium Outlet Center and CalTrain for a convenient commute.  Schools, shopping and medical facilities are within walking distance.  Veteran’s Memorial Park with its 5 baseball diamonds, skate park and picnic area is also just a short walk.

As close as this home is to everything, Bonnie View Rd. is not a through street so there is little traffic.  It is a quiet neighborhood.

This is NOT a short sale or bank owned sale. You will deal with the actual seller and can expect to close in a matter of weeks.

For your own personal tour of 1291 Bonnie View Rd. just call/text or e-mail me and I will arrange it for you.

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4 Bdrm. Home, San Juan Bautista

For Sale: 411 6th St.  It is a 9 year ‘young‘ home in “The City of History”, San Juan Bautista.

This 4 bedroom, 2 1/2 bath, 2,005 sq. ft. home is just a few blocks from all of the boutique shops and restaurants in San Juan’s village.  Everything here; the Mission itself, the grocery store, the school – are all within walking distance.

Since this home is only 3 miles from Hwy. 101 you can be on the beach in 20 minutes, Gilroy’s Outlet Center and, CalTrain in 15 minutes, and in downtown San Jose in 45 minutes.  Hollister is just 10 minutes away.  It’s an easy commute from here to Monterey or San Jose.

Take a couple of minutes and watch this VIDEO Tour then, let me know what you think.

Continued, “Firming” Trend

Here is yet another article which demonstrates that Bay Area home values have bottomed out and have continued a steady climb from there. 

With little land left few homes are being built.  Therefore, the varied employment opportunities which provide a fairly consistent demand for housing, are tipping the supply/demand scale in favor of firm-to-increasing values.

Natural migration for affordable housing therefore, continues to be South of the Bay Area, namely: Morgan Hill, Gilroy and Hollister.  Many families are investing a slightly longer commute in order to have a desirable place for their family to enjoy.

Here is a good indicator of value: “Price per square foot“.  When you look at a home’s cost/sq. ft. it quickly becomes clear – your housing dollar goes much further in our “South County” areas:

A 3 bedroom, 2  bath, 1,700 sq. ft., on a 7,000 sq. ft. lot costs:

  • San Jose             $303.87/sq. ft.
  • Morgan Hill          $247.10/sq. ft.
  • Gilory                    $206.48/sq. ft.
  • Hollister               $146.71/sq. ft.

If you have been waiting to make your next housing move, I wouldn’t wait any longer.  Home prices, in our area, are rising.  The home loan rates are still extradordinarily low – FOR THE MOMENT.  You will be disappointed if you stay with an abritary “wait for 6 months to a year” idea.

BTW: The “City Tourstab above will provide you with video tours of each of our communities.  Enjoy.

If you have wanted to refinance, you should send me an e-mail with your address.  I will be happy to provide you an updated market value.  Your home’s value may be high enough now to take advantage of these low rates.

(data source: MLS Listings)

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VIDEO Tour, Beautiful San Juan Bautista Home

Location, location, location.  Here is a ‘turnkey’ home nestled on 5, oak tree studded, acres in the San Juan Bautista foothills.

This bright and sunny home is only 40 min. from San Jose, 13 miles from Gilroy’s Outlets and CalTrains; 4 miles from San Juan’s village and schools, 20 min. to the beach and a little further to Monterey.

As you watch the VIDEO Tour (above) of this great home look for all of the natural light, large oak trees, and the home’s quality. 860 Merrill Rd is located at the end of the lane, about a mile up from Hwy 101.

You can also click on the “City Tours” tab above to see a VIDEO Tour of San Juan Bautista as well.

In addition to the 4 large bedrooms, 3 full baths, over sized 3 car garage and 3,149 sq. ft., the energy efficiency, privacy and great location of this home will make you glad you found it.

860 Merrill will be going on the market in a few weeks.  Call or e-mail me for your own, personal tour of this wonder country home.

I welcome your comments here.

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