How's the Real Estate Market in Almaden Valley???

[Therese Swan]

As of August 27, there are 108 single family homes on the market in Almaden Valley. See the below graph showing Actives, Pendings, Solds from May 2007 through July 2008. Though the market is a bit slower than last year and inventory higher, hopefully things will pick up as we move into fall.

Therese Swan
Alain Pinel Realtors
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[Eric Nelson]

Therese,

Great info. Almaden appears to be running rather strong on market value in comparison to much of the rest of the bay area.

Interest rates have been following a similar graph over the past 6 months, particularly with the planned bailout and establishment of the new Resolution Trust Agency.

[Eric Nelson]

I recently wrote an article for the Almaden Times regarding the mortgage market and financial market. It is on the front page, addressing what has happened and what can be done now.

Today, the market took another down turn on stocks, and the odd part of my business is that when the stock market drops so do interest rates.

Perhaps the biggest issue for Almaden residents is in reduced financial wealth, given the stock market turmoil. Stock options and stock prices are dramatically reduced over just a month ago.

With a very large supply of inventory in Santa Clara County and very reasonable interest rates, this is shaping up as an ideal opportunity to acquire real estate.