Realty World - Innovative Realty Service » Morgan Hill

Housing Values At The Bottom Yet?

Michael Walters — Wed, 11 Jan 2012 22:30:00 +0000

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.

Continued, “Firming” Trend

Michael Walters — Sat, 16 Apr 2011 19:38:00 +0000

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 Tours” tab 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)

Nation’s Happiest Employees: Right Here

Michael Walters — Fri, 11 Feb 2011 00:35:00 +0000

Not only is San Jose, CA the highest home-value-appreciation area in the US (see 2/10/11 post below), it is also the city with the happiest employees in the country. This Forbes article puts San Jose on top and San Francisco right behind it.
And, since the majority of those who live in Hollister, Gilroy, and Morgan Hill drive to the San Jose area for work we can safely assume that we are also the happiest employees in the US. Right?
After all, we have 2 of our own In-N-Out restaurants, the Gilroy Premium Outlets and 3 lakes.
Now if we could just get Hwy. 101 widened from Hwy. 152 in Gilroy to Hwy. 85 in San Jose we would all be a lot happier.

INCREASING Home Values! Here!

Michael Walters — Thu, 10 Feb 2011 23:31:00 +0000

And the winner of the highest appreciation of home values in the United States is: San Jose, CA!
Of course, Morgan Hill, Gilroy and Hollister home values followed in the same direction, as they always do.
The GOOD NEWS in this article is believable when you see the actual single family home value appreciation from 2009 to 2010:
San Jose’s average single family home value ROSE 11.5%.
Morgan Hill’s average value INCREASED 4.5%.
Gilroy homes saw the values RISE 6.8%.
Homes in Hollister enjoyed a healthy JUMP of 11.3% in values!
So, those of you who have been waiting to buy a home may want to take advantage of the incrediblely low interest rates and go buy a home. Their values have come off the bottom of value slide and are beginning to increase.
You homeowners who have been waiting for values to come back so you can refinance should e-mail or call me. I will research your home’s current value for you.
2011 is going to be an exciting year – IN OUR AWESOME AREA! What do you think?
(data source: MLSListings)