$500K Over Asking? Here’s Why It’s Becoming So Common…

Yeah, if it weren’t for the red hot market that was 2021, we wouldn’t believe it either. There are lots of variables at play with the state of the world, rising interest rates and those wanting to lock in a long term asset by cashing out a portion of their stock portfolio, being at the core of what can only be described as truly unprecedented.


The Southbay has quite a few neighborhoods, including Cambrian - 1787 Michon Drive, 6281 Gunter Way, 6204 Glendora Court, Blossom Valley - 4474 Jonquil Drive, 5436 Cahalan Avenue, 754 Pearlwood Way, Campbell - 400 Queens Street, 400 Castro Court, 264 Radford Drive, Willow Glen - 1635 Everett Avenue, 1719 Husted Avenue, 3025 Canoas Creek Court, 1450 Padres Drive, and West San Jose - 2935 Neal Avenue, 4163 Piper Drive, 4091 Lemoyne Way, 1388 Poe Lane that are regularly seeing 20%-30% over asking as the average sale price. Insert the fact the pure amount of competition and you have all the makings of an outrageously HOT market for sellers.


Curious about your home's value, we make it easy, tap/click HERE.


So with that said, the time most definitely is now to sell and take advantage of this market and we have some tools and resources in the paragraph below that we’ve referenced in this episode that can help expedite the process of prepping your home. 


But not to worry if you’re a buyer…there’s competition, but we have several tools and strategies that we can use to break out of the pack and secure that dream home. This, especially now, is a very custom approach, so it’s always best to touch base with us to have a detailed chat so you know what you’re working with.


We hope you enjoyed this edition of Market Watch for Silicon Valley’s South Bay. In the meantime, be sure to check out our library of resources mentioned in this episode, plus don’t miss our READY TO STAY & SELL programs allowing 0% financing for 12 months to fix up bathrooms, your roof, landscaping and so much more. And our Mortgage & Home Value Calculators will help you crunch your numbers.


And don’t forget to sign up for our e-newsletter so you don’t miss out on all our news, trends and market information to keep you in the know.


Thank you for letting us be your real estate resource!

-Erick Fernandez