Monday, December 3, 2007
Another dramatic building in downtown San Jose. This building will put you in the heart of downtown San Jose next to the Fairmont Hotel and walking distance to all the restaurants, clubs and theatres. This is a landmark building designed by the same group which developed One Rincon Hill in San Francisco. The sales center is located at 170 S. Market Street. Call us for a tour.
Great incentive program right now for the impressive San Jose condos at City Heights in downtown San Jose. Up to $50,000 for upgrades, price buy downs, interest rate buy downs, closing costs, property taxes and more. The building is located at 175 W. St. James Place, San Jose. Great location walking distance to San Pedro Square and West Santa Clara Street. Check out the views from the penthouse units - absolutely stunning! Barry Swenson has done it again in San Jose. Units priced from the $400s to over $1.5M for the penthouse units. Call us to tour.
4,486 Single Family Residences on the Market as Active Listings
725 SFRs "in escrow"
6.2 months of inventory
1,527 condo/townhouses active
269 "in escrow"
5.7 months of inventory
The number of listings is starting to decline over the last 3 weeks for SFRs and over the last 5 weeks for condo/townhouses in Santa Clara County.
This is a wonderful opportunity for Europeans to use the strength of the Euro to buy real estate assets in the US. Many destination cities such as New York, San Francisco, Los Angeles, Chicago, Miami and even Las Vegas are seeing a strong influx of European buyers. If the Dollar is historically low, then when it adjusts back to a normal trading range, these US homes will make very good exchange rate returns. The homes don't even have to go up in value for Europeans to win in this situation. Of course, real estate values will rise over the next few years as we get out of the sub-prime mortgage situation - a key reason why our dollar is so weak now. That double whammy (a true real estate term) will make huge returns for foreign investors. Any Germans, Dutch or Brits reading this?