Stephen Theard Real Estate for Morgan Hill California and The Silicon Valley

Stephen Theard African American Silicon Valley Realtor selling Real Estate for Coldwell Banker California Home buyers and home sales first time home buyers investors and home sales and bank owned listings

My Clients Come First in Every Transaction!

	First time home buyers are still hitting the market hard this year.  Adding to the group are the move up buyers taking advantage of the $6,500 tax credit.  However, the issue we are seeing in Santa Clara County is the fact that inventory is down and the availability of homes is low compared to last year.  This is creating a multiple offer market for homes priced at $800,000 or below.  Many have speculated that the banks are to blame.  The speculation is that the banks are not releasing foreclosed homes on the market for sale.  I have heard many theories behind this including that investors have asked the banks to hold the assets hoping that home values will increase to offset their losses. Regardless of the reasons, their is a shortage of available homes to purchase, and it is now a sellers market for an unknown period of time.  Sellers who are looking to move up should take advantage of the short supply of homes and abundance of buyers.