If you gage the real estate market by walking around a neighborhood, you would certainly call Valmonte sleepy based on the general absence of for sale signs in the front yards. This reality can be seen a few ways. Maybe you can call it the Holiday calm; who wants to have people touring your home while you’re trying to enjoy the special time that is the holiday season? It could be that everyone loves Valmonte and no one wants to sell. Or, it may just be that the market isn’t signaling that it’s ready to roll and sellers are hesitant to sell. I like to think it’s a combination of all of these factors. Valmonte is a popular place these days (you can argue that it has been for many decades), and there certainly are many families looking to move to this great neighborhood. However, qualifying for a home is a challenge, and prices here aren’t exactly low. And after 6 years of a bearish real estate market, sellers ARE slow to accept that the ball is back in their court. But facts are facts, and in 2012, of the 40 homes that sold in the Valmonte area, the average home sold in approximately 3 months at 97% of the asking price. Not bad when only a few years ago the sky was falling and chicken little was running around with his head in his hands.
So seeing a new listing hit the market is a welcome sight and 4125 Via Largavista listed at roughly $1.649m by Raju Chhabria of Shorewood Realtors is one to watch. Located on one of the best streets in Valmonte this 3 bed, 3 bath 2400′ home on a 9400′ lot was extensively updated in 2006. The house last sold in 2004 for $1.425m and if you know the neighborhood, not too many come up for sale on this family friendly street. My guess for 2013 is that we will continue to see demand outpace supply but prices are going to be challenged by buyer’s ability to qualify for loans at continued low rates. It’s certainly getting better, but we’re not out of the woods just yet.
Happy Holidays!
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