Tag Archives: MacDonald Dettwiler

San Jose real estate market

Posted on June 9, 2010 by admin| Leave a comment
Old Santa Clara county court house. 161 North ...
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The San Jose real estate market, a subsidiary of the larger Silicon Valley real estate market, continued to make progress during the most recent months of the fiscal year. According to a May 20, 2010 article in the Mercury News, “Santa Clara County posted only a slight gain in home sales last month compared with April 2009, but the median home price jumped 26 percent. The median price of previously owned single-family houses sold last month was $550,000, up 26.4 percent from $435,000 in April 2009, and flat from March 2010, according to a report Thursday from MDA DataQuick.” The piece by Sue McAllister went on to say that “In San Mateo County, the median price of houses sold in April was $638,000, up 16 percent from a year earlier and down 9 percent from March…The number of houses sold in San Mateo County rose 21 percent from April 2009, with 442 houses changing hands.”

The average value of a San Jose home for sale declined sharply in the most recent assessment, according to a May 20, 2010 article in the Mercury News. This piece noted that “The crash in once high-flying Silicon Valley home prices came into sharper focus Thursday when county officials announced a new record in the number of properties that have dropped in assessed value.” The article by John Woolfolk went on to say that “All told, 118,400 houses, condominiums, duplexes and commercial properties will see their assessed values lowered by a total of nearly $21.4 billion. To put that in perspective, just 4,442 properties in 2006 saw assessed values drop, with losses totaling less than $3 billion. Assessor Larry Stone called the numbers ‘historically off the charts.’ This year’s figures top last year’s record reductions in value by $2 billion and 20,000 properties.”

The Bay Area communities surrounding the San Jose real estate market also faced some setbacks in the month of April, according to a May 20, 2010 article. This article from the Silicon Valley/San Jose Business Journal found that “Bay Area home sales fell slightly below the year-ago level and remained well below average in April, according to a report Thursday by MDA DataQuick.”

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Sacramento real estate market

Posted on June 7, 2010 by admin| Leave a comment
This is a picture of the Sacramento Riverfront...
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The Sacramento real estate market is showing signs of improvement, although the number of home sales did decline slightly in the latest period. According to a May 20, 2010 article in the Sacramento Bee, “For once California’s economy looks good compared to that of some other states. A foreclosure crisis that has dimmed the state’s golden glow with images of financial ruin and broken government is beginning to wane, says a leading trade group for the U.S. mortgage industry.” The article by Jim Wasserman went on to say that “The new data confirmed improvements in California and the Sacramento area recently cited by researched MDA DataQuick. Last month the firm said mortgage defaults have fallen for a year straight in the state and region, with foreclosures dropping now as well. In hard-hit Sacramento suburbs such as Natomas, Lincoln and Elk Grove, residents see dwindling evidence of the crisis.”

After remaining quite low for some time, the average price of a Sacramento home for sale rallied slightly in the month of April. According to a May 24, 2010 article in the Sacramento Business Journal, “Sacramento-area home prices are climbing off the mat, increasing 12.4 percent from the bottom reached in April 2009, according to a report released Monday.” The piece, written by Ron Trujillo, continued to note that “The fourth-county region – arguably one of the hardest hit, with an abundance of foreclosures and 35 percent-plus home price declines – had a median-home price of $188,100 in April, compared to the so-called ‘trough’ price of $167,340 a year ago, according to the California Association of Realtors.”

Home sales in the Sacramento real estate market decreased somewhat in the most recent tracking period, according to a May 20, 2010 article in the Sacramento Business Journal. The piece by Michael Shaw said that “Home sales in the four-county Sacramento region were slightly lower in April than the same month last year, according to figures released Thursday from real estate information company MDA DataQuick. There were 2,873 home sales of all types, including new homes, and existing homes and condos, in April compared with 3,036 sales a year ago, the company reported.”

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Newport Coast real estate market

Posted on June 6, 2010 by admin| 2 Comments
The Newport Center Skyline in Newport Beach, C...
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The Newport Coast real estate market, which is quite closely connected to the larger trends of the Newport Beach and Orange County real estate markets, seemed to be relatively healthy despite retreating slightly from some earlier gains. According to a May 18, 2010 article from the Orange County Business Journal, “Orange County’s median home price edged down $2,000 in April from March, but still stands $50,000 higher than the prices seen here a year ago. The median price of a home sold here in April was $430,000, a less than 1% drop from a month earlier, according to San Diego-based MDA DataQuick, a unit of Canada’s MacDonald Dettwiler and Associates.” The article by Mark Mueller continued to say that “Median home prices are now about 13% higher than they were a year ago, but still are off nearly 33% from their highest level, seen in mid-2007.”

A May 18, 2010 article in the OC Metro provided a different perspective on the same set of statistics, pointing towards increases in the pending volume of Newport Coast homes for sale. According to this piece, “Orange County saw gains in its median home price and sales activity in April, compared to the same time last year, according to a new report from MDA DataQuick. The county’s median home price hit $430,000 last month, up 13 percent from $380,000 in April 2009.” The article by Kristen Schott continued to state that “Sales rose 11.6 percent in Orange County in April, compared to 2009. Buyers snapped up 2,669 homes in the period, up from about 2,391 at the same time last year. The number also rose slightly from March.”

Another indication of rising strength for the Newport Coast and Orange County real estate markets was mentioned in a May 24, 2010 article in the Orange County Register. This piece, composed by Jon Lansner, said that “Appraisers found price strength in central Orange County (+3.4%, year-over-year for April) and in southern and beach communities (+2.8%). Northern O.C. values were down 1.8% by the RERCSC math…Orange County was one of three SoCal counties showing year-over-year price gains, albeit small ones.”

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