Roadmap with Irina - August 2023

Hi Iren, 

July is typically a slow month in the real estate market. When comparing the statistics for July and June 2023, as mentioned in my previous newsletter, it's evident that the market dynamics have shifted. Some agents opt not to list houses in July due to prolonged listing durations and lower sale prices.

In Santa Clara County, the number of sold single-family homes in July was 23% lower compared to June, and the total number of properties was down by 18%. The median sale price for condos also experienced an 8% decline. The overall inventory trend continued to decrease: the count of new single-family homes listed in July was 12% lower than the previous month, while the numbers for condos and townhouses remained relatively stable. With the new school year beginning, there's hope that more homes will become available for sale.

Open houses remained well-attended, with a majority of visitors being qualified buyers. Presently, buyers aren't deterred by higher interest rates and view the current market as an excellent opportunity to purchase property without intense competition. In conversations with title companies, it's apparent that this year's sellers fall into two main categories: those who inherited properties and have no need for them, and those who are downsizing and relocating. The scenario of someone selling to upgrade to a larger home is quite rare.

If you are thinking about buying or selling, let’s connect, talk about your options, run some numbers, and see if this is the right time for you. Call me, I am always here for you.

Maui United Way works to address Maui's vital needs by focusing on education, income and health. The organization has set up a Maui Fire and Disaster Relief Donations Page. All donations are processed online.

Everyone knows that August is the month when you can see more shooting stars than at any other time of the year. When I was a kid, we stayed up very late in August (the sun was down between 12-4 am during this time of the year in the area where I lived). The possibility of seeing a multitude of falling stars outweighed the risk of being heavily bitten by mosquitoes. We truly believed that any wish could come true if you made it while the stars were falling, so we were super excited and ready for the outcome. Looking back, I can say that it totally worked because almost all of my wishes and dreams came true!

When our kids were younger, we had sleepover parties in our backyard. I agree, the backyard is not the best place to see stars due to light pollution, but it was an adventure for the kids anyway. We invited our friends, had dinner on the grass, roasted marshmallows over a campfire, and baked potatoes in the ashes, just like we used to do in our childhood. Most of the time, the kids were asleep before they could even see a falling star, but it was super exciting for them regardless. It was like going camping with the convenience of staying home. I remember one time when the sprinklers went off in the early morning. Just imagine how quickly the kids woke up and ran off the lawn! I wish they would do the same when getting ready for school.

We watched falling stars from every place we happened to be in August: Lake Arnold, Pine Mountain Lake, Redding, Monterey, Hawaii, Lake Tahoe, etc. Sometimes the sky was covered with clouds and we couldn’t see anything; other times it was crystal clear, and we saw lots of stars. But every time we looked up and waited for a star to fall, I felt like a kid expecting a magical thing to happen. It's mid-August, but we still have time to go outside at night, see shooting stars, make wishes, and be confident that any dream can come true.

With love,
Irina

PS: You can go and see falling stars from anywhere: your backyard, local parks, hiking trails, lakes, etc. The further away from the city lights, the better. Some regional parks and astronomy groups organize stargazing events. Here are a few of them:

- Del Valle Regional Park, Saturday, August 12^th, 8:30 pm – 10 pm.
- Castillo’s Hillside Shire Winery, Saturday, August 12^th, 10 pm – 1 am, 2215 Liderata Dr, Morgan Hill
- More events from San Jose Astronomical Association HERE.
 
Have fun and believe in the magic of the shooting stars!