Comments on: Top Downtown Housing Deals in San Jose

By: CJ Brasiel

CJ Brasiel — Tue, 10 Mar 2009 04:42:18 +0000

Good point Jeffrey. Naglee Park has not seen the hit in price as much as the “East” side of downtown. The new developments are struggling. They don’t hand out their numbers easily but I heard from a colleague who bought several condos with investors (yet to be completed) that the units may end up being apartments. I believe we all had high hopes that these new “high rise” units would bring more life into downtown. Thanks for the comment.

By: Jeffrey Hare, San Jose, CA

Jeffrey Hare, San Jose, CA — Tue, 10 Mar 2009 03:58:04 +0000

CJ: What you didn’t mention is the proximity of some of these properties to some of the signature single-family neighborhoods in or near Downtown San Jose, such as Naglee Park, where many of the homes are still listing at over twice and some three times the average values above. This makes for great appreciation potential when we start back up the hill. Do you know how the new high-rise condos are doing? – Jeffrey Hare

By: CJ Brasiel

CJ Brasiel — Mon, 09 Mar 2009 23:11:12 +0000

Jeremy – thanks for the comment! Months of inventory is interesting. For all of San Jose, months of inventory only calculated on ACTIVE/SOLD would come out to about 21 months. If you throw in the ACTIVE/Pending Firm/Sold, you get about 8 months of inventory. Assuming about 30% of pending sales are not going to close, that would put the months of inventory at 10 months. I think you have to look at pending sales these days. These numbers are for February. Either way, lots of deals to be made before we are out of the woods.

By: Jeremy B. Shapiro (ForeclosuresMass.com)

Jeremy B. Shapiro (ForeclosuresMass.com) — Mon, 09 Mar 2009 22:27:18 +0000

Great post, CJ. What have you seen in terms of trends on the months of inventory on market in San Jose? I always like that as an indicator of how much supply is out there and where that’s trending. – Jeremy