Roadmap with Irina - August 2026

Roadmap with Irina - August 2026

MARKET SNAPSHOT
Hi <<First Name>>, 
 

The Santa Clara County single-family home market remained relatively strong in July, with the median sales price reaching $1.9 million, slightly higher than $1.88 million a year ago. However, the market is moving at a slower pace: 718 homes closed compared with 733 last July, and average days on market increased from 23 to 27 days. More homes are also coming onto the market, with 956 new listings, but inventory remains relatively tight at 1.7 months of supply. Homes sold for an average of 102% of list price, showing that well-priced properties are still attracting strong buyer interest.

The condo and townhome market is noticeably softer. The median sale price dropped to $907,000, about 11% below July 2025, while average days on market increased from 33 to 43 days. Inventory reached 3.3 months of supply, and 504 new listings came onto the market, which is 10% more than last year. At the same time, closed sales increased slightly, from 286 to 294, suggesting that buyers are still active but have considerably more choices and negotiating power.

Overall, Santa Clara County is increasingly looking like two different real estate markets. Single-family homes continue to benefit from relatively limited inventory and resilient prices, while condos and townhomes face more competition, longer selling times, and downward pressure on prices. For sellers, realistic pricing and strong preparation are becoming increasingly important, while buyers, particularly those considering condos and townhomes, may find more choices and opportunities than they have had in recent years.

TIME TO REFINANCE YOUR 7/1 ARM?

If you have a 7-year fixed ARM loan that's about to adjust, don't panic just yet. Before you rush to refinance, take a close look at your promissory note. You may discover that your loan is actually a much better deal than you think.

Let me share my own experience.
I refinanced my primary residence in 2020 and locked in an interest rate of 2.625%. Looking at today's rates, that feels almost unbelievable.

My loan has a 2% annual adjustment cap, which means that after the initial seven-year fixed period ends, the interest rate can increase by no more than 2% per year.

Here's what that looks like for me:

  • In 2027, my rate will increase from 2.625% to 4.625%.
  • In 2028, it will increase again to 6.625%, which is roughly where today's market rates are.
  • After that, assuming rates stay about the same, I would still be paying approximately the current market rate.

So even though my 7-year ARM officially adjusts in 2027, I don't necessarily need to refinance right away. My interest rate will still be well below current market rates for another year, and likely competitive for at least another year after that.

The lesson is simple: don't assume you need to refinance just because your ARM is about to adjust.

This is how my loan works. Every loan is different. Read your promissory note, understand how your adjustment caps work, and talk with your loan officer. You may find that you're in a much better position than you expected and can comfortably wait another year or two before making a decision. I hope this helps.

AI OR NOT AI?

For quite a while, I have been trying not to use too much AI in my work. Well, I was trying to avoid it as much as I could. I know everyone is talking about how AI makes us more productive and changes the way we work. And I do use it a little, mostly for fun. (Oh, you should hear how my husband talks with Grok in Russian slang! It's hilarious!)  But somewhere inside me, there has been this resistance. I still want my writing to sound like me. I want my ideas to be mine. I don't want a computer to do all my thinking for me.

But lately, I have had to admit something: if I want to have more free time, I need to learn how to use AI better. There are only so many hours in a day, and I spend way too many of them writing emails, preparing marketing materials, creating social media posts, researching, organizing information, and doing dozens of other little things that come with running a business. If AI can help me do some of those things in 20 minutes instead of two hours, maybe refusing to learn it isn't such a noble idea after all.

While I was staying home nursing my injured ankle, I started taking AI classes. I felt a surprising amount of resistance every time I watched another tutorial or figured out another AI tool. Maybe I am lazy. Maybe I am getting too old to get excited about learning new technology. Or maybe my brain simply says, "We already know how to do our job. Why are you making us learn everything all over again?"

Recently, I watched a webinar about AI, and I found myself really admiring the woman who was teaching it. She was easygoing, energetic, funny, and clearly knew what she was talking about. She made everything look so natural and simple. Then, somewhere in the middle of the webinar, she casually mentioned that she has eight kids and had recently become a grandmother. Eight kids! And a grandbaby! And here she was, teaching me about AI. I immediately thought, "If she can do it, I can do it too!" What excuse do I have to fall behind? Apparently, somewhere along the way, I completely forgot my own motto: "Shut up and do it." So, follow your own directions, Irina. Stop making excuses and just do it!

Technology isn't going backwards. And if I can learn to use AI without losing my own voice, creativity, judgment, and personal connection with people, maybe it won't replace something valuable in my work. Hopefully, it will simply give me more time for the valuable things that AI cannot do for me.

I don't know yet how this will turn out. Maybe six months from now I will be much more efficient, have more free time, and become a brand-new technologically advanced (AI-generated) version of me. Or maybe I will still be sitting in front of my computer arguing with an AI program. Either way, there is no way back; I have to learn it.

My grandmother used to say, "Learn as long as you live, and you will die as a fool." It sounded funny when I was younger, but I understand it much better now. There will always be something new to learn. And since I am still alive, I guess I just need to keep learning. So, shut up and do it, Irina.

Always yours,
Irina
P.S. The picture is AI-generated. :)  

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Work With Irina

Working mainly by referrals, I do my best to provide excellent real estate services to my clients, always exceeding their expectations. Whether they are buying or selling, I walk them through every transaction step, making it transparent and smooth. My relationships are always based on open communication, loyalty, and true commitment.

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