silicon valley: San Mateo, Santa Clara counties-what's the market like? - 06/18/19 08:33 PM
We've been sensing a change in the real estate markets in many of our local towns in San Mateo and Santa Clara Counties, the counties south of San Francisco that make up the Silicon Valley. Not every property listed gets multiple offers; not every property sees sale prices far exceeding list prices, although both of those occur regularly.
We all have anecdotal stories, but let's take a look at the data from our Multiple Listing Service.
This first chart shows closed sales of single family homes in San Mateo County for 2016, 2017, 2018 and 2019 to date.
Next, we'll take a look at a … (5 comments)

silicon valley: FAQ: "There's no inventory out there. Any insights? - 03/26/19 08:56 PM
One of the most frustrating situations we deal with day in and day out in our high-cost area is lack of inventory. The question from a client, "there's no inventory out there. Any insights?" is one I hear quite often.  My response to this client went something like this: Our low inventory certainly is a problem. You've seen the result--small homes needing a lot of updating/remodeling selling very high and very quickly, usually in a mater of days.  One example: a house in one of our Peninsula towns closed last week. Listed at $1,399,000, it sold for $1,610,000 in 8 days, with 14 … (55 comments)

silicon valley: Should I list my Silicon Valley home in May? - 03/13/19 06:48 PM
Here’s a question I’ve been asked recently ---
“Is May too late to put a house on the market here?”
My answer: "No, the right time to sell is when it is right for you."
Here's why there is no wrong time to list your Silicon Valley or San Francisco property for sale:
While it is true that many buyers are actively looking to purchase in our area between February and April, there’s no reason to believe that May, June and on wouldn’t bring equally good results. Numbers of offers could be less, days on market will likely increase somewhat (we’re still talking less than … (21 comments)

silicon valley: Why do buyers buy homes in the Silicon Valley? - 02/13/19 08:13 PM
Understanding the real estate market varies per area and per price point. Fortunately for us Realtors® at Compass, our Chief Economist, Selma Hepp gathers the information we need to be better informed and to better help our buyers and sellers. By taking time to read, study and understand the data provided we can help educate our clients and understand the motivating factors for purchases.
In the Silicon Valley, for example, there are some interesting statistics at prices under $2,000,000 and those over $2,000,000
A few of the facts gleaned from questionnaires gathered between 1/1/16 and 12/31/18 include:
              … (10 comments)

silicon valley: Luxury Home Market, San Mateo County & Silicon Valley - 02/07/19 06:31 PM
Patrick Carlisle, Compass' Chief Market Analyst for the San Francisco Bay Area digs deep into market stats to enable us help you understand our local real estate market better than from just reading headlines about nationwide trends.
One of his reports that caught my eye today was his Luxury Home Market Report for San Mateo County and the Silicon Valley.
You can read the entire report here. It's interesting to see which local cities had sales over $3,000,000, which is the defining luxury home market price here. Los Altos Hills lead the way; San Carlos has 2 reported. I know of at least one $3,000,000 … (8 comments)

silicon valley: Is summer a bad time to list your Silicon Valley home? - 07/12/18 06:24 PM
SOLD and closed escrow - 962 Belmont Terrace #4, Sunnyvale
962 Belmont Terrace, #4, Sunnyvale is a lovely 2-bedroom, 2.5 bath townhouse-style condo located near downtown Sunnyvale, the Caltrain station, numerous high-tech firms and adjacent to Cannery Park. Click on the highlighted address link, above, to get all the details, photos, etc. 
Details of the market timing (Fourth of July week):
6/26/18 - listed for $995,000 on MLS listings 6/28/18 - broker tour held (1 agent came) 6/30/18 - first open house (about 20 groups came through) 7/01/18 - first Sunday open house (about 25 groups visited) 7/05/18 - received 2 offers; with … (19 comments)

silicon valley: Sunnyvale-in the Heart of the Silicon Valley - 06/25/18 08:03 AM
Coming Soon
962 Belmont Terrace #4, Sunnyvale
Located adjacent to Cannery Park near downtown
and high tech firms like Raytheon, Google, Apple, Yahoo! and others
The walkway leading to this 2 bedroom, 2.5 bath townhouse style condo, shaded by majestic California redwoods, leads to the entry level of this 2 bedroom, 2.5 bath townhouse style condo.
Spacious living room, kitchen, dining room and powder room are located on the entry level.
Upstairs are two master bedroom suites, each with its own full bath.
Two-car tandem garage with laundry and storage areas and direct access to the condo complete the unit. 
For your free-time enjoyment, you'll find a fenced and … (11 comments)

silicon valley: Coming Soon - Townhouse style home in Mt. View, CA - 06/07/17 10:36 AM
Here's a sneak peak at a new listing in Mountain View, California -- in the heart of the Silicon Valley.
1963 Colony Street, Mountain View
Open Saturday and Sunday, 6/10/17 and 6/11/17, 1:00 - 4:00
Offered at: $1,438,000
Built in 2016, this home has been gently lived in for the last year. Many upgrades installed as the house was completed - flooring, upgraded kitchen cabinets and backsplash, canned lighting in many rooms and more.
If you work at Google or many other high-tech firms, say good-bye to your commute if you choose to live here!
 
For additional information, contact your real estate professional.
(12 comments)

silicon valley: Real Estate Report - Silicon Valley and San Mateo County - 01/26/17 03:34 PM
As we near the end of January, there's not much more inventory in San Mateo County and the Silicon Valley than there was at the lowest point of the year, right before the December holidays.
Take a look at the chart for examples of active inventory in various towns as of 1/19/17:
I've been out on several pre-listing appointments this week, and finding comparable sales has been a struggle; in most cases I need to go back at least 6 months in order to get just 4 or 5 comps.
Take a look at San Carlos, for example. This is a city with a … (12 comments)

silicon valley: Here's what I see for SF Peninsula real estate in 2017 - 01/26/17 08:01 AM
Don't we all wish we really had a crystal ball or could see into the future? No crystal balls and binoculars can't look into the future, but with just about one month behind us here's how I see 2017 shaping up for the San Mateo County and Silicon Valley real estate markets:
 
The extreme shortage of properties for sale in most communities will continue. Inventory will increase in February and March, but except for the high end for each town, properties will sell in a matter of weeks.  Buyers will remain plentiful. I don't see interest rates rising rapidly or going extremely high. Our … (3 comments)

silicon valley: Are we starting to see a market shift? - 06/22/16 03:19 AM
The residential real estate market in San Mateo County and the Silicon Valley has been strongly favoring sellers since 2012-2013.
Since then prices have risen dramatically, multiple offers have been the norm on almost every listing (except the extreme high end), and buyers outnumber available homes by a wide margin.
This last month, however, I've been wondering if a shift has begun, or is the market just taking a breath as summer arrives?
It's too early to tell, but these are some interesting numbers for single family homes that I pulled for my newsletter readers.
Notice how inventory in every city has grown since … (19 comments)

silicon valley: Can Buyers in a Sellers' Market Succeed? - 06/04/16 10:48 AM
Can buyers succeed in a market that strongly favors sellers?
Here's a tale of 3 of my recent buyers and how they are faring in today’s market which continues to favor sellers.
(Happy buyers, Belmont, 2015)
 
 Buyer #1 – Success! Closed escrow in April 2016
       Bought a condo in Redwood Shores – made 3 offers before one was accepted        List Price: $699,000        Days on market: 7        Multiple offers   Every contingency waived, including appraisal & financing
       Gave seller approximately 6 week free rent back        Sold for almost 17.5% over asking  
Buyer #2 – Success! Pending sale, set … (10 comments)

silicon valley: Silicon Valley -median sales prices since 2010 - 05/23/15 05:24 AM
The Silicon Valley has a booming real estate market at present, but is this a new phenomenon?
That's a question I often hear. I know from being in the trenches, representing buyers and sellers, that the market is strong, but let's take a look just how strong it is in four of the Silicon Valley towns where I work, Palo Alto, Mountain View, Sunnyvale and Cupertino.
We'll look today at median sale prices for single family homes from 2010 through April, 2015. These statistics come from MLS Listings, our multiple listing service.
Starting North to South, we first have: Palo Alto
Next comes: Mountain … (7 comments)

silicon valley: Every Day Should Be Earth Day - 04/23/15 02:11 PM
Perhaps it is because yesterday was the official Earth Day 2015, but I found myself thinking a lot today about our earth, and in particular our precious lands here in the San Francisco Bay Area.
One of the benefits of living and working in the Silicon Valley, in San Mateo County and in San Francisco is our abundant open space right in our own back yards. We have County parks, Open Space Preserves and State Parks and beaches to enjoy.
When you cross the Golden Gate Bridge into neighboring Marin County, the wild lands continue.
Nowhere is it better appreciated than at the … (8 comments)

silicon valley: Where are home values increasing fastest? - 02/25/15 01:06 AM
Where in the United States are home values increasing the fastest? Using data from Zillow, NerdWallet.com has compiled a top-20 list of cities.
The Top 10 are of great interest to me; they are all clustered around two areas of the country, my Silicon Valley area of California  and the Miami, Florida area.
Take a look at their chart:

In the Silicon Valley we have 7 of the top 10:
#1 - Palo Alto #3 - Cupertino #4 - Mountain View #5 - Sunnyvale #6 - Redwood City #8 - Menlo Park #9 - Foster City Other Peninsula towns … (12 comments)

silicon valley: Can You Say Sellers' Market?? - 02/10/15 12:05 PM
I've written many times about the strong sellers' market we're experiencing, from San Francisco down the Peninsula to the Silicon Valley.
Here's today's tale:
house listed in a Silicon Valley town; not a prime location, but good schools and convenient list price: somewhat north of $1,000,000 first showings Saturday we visited Sunday morning in a raging rain and wind storm; about 50-70 business cards were at the house, and 3 other groups were there at the same time we were disclosure packet and offer information requested Sunday around Noon offers scheduled for 2/17; open houses planned for 2/14 and 2/15, per … (28 comments)

silicon valley: 2013 Condo and Townhouse Prices - Silicon Valley and San Mateo County - 01/18/14 12:28 PM
Last week I reported on what happened with prices of single-family homes in San Mateo County and the Silicon Valley in 2013, and how that compared with 2012. In every town on which I reported, prices were up--way up--over 2012.
Now we'll take a look at the condominium and townhouse sales in those same areas. This market segment had a wider swing of results, with lower-cost Pacifica soaring up 51% in one year, while high end Menlo Park obtained only 91% of 2012 median prices. However, Menlo Park's next door neighbor, Palo Alto, with even more costly properties, was up 6%. … (2 comments)

silicon valley: FAQ #8: How Do I Buy a Home in San Mateo County or the Silicon Valley? - 05/31/12 01:12 AM
FAQ: How do I buy a home in San Mateo County or the Silicon Valley? What goes on in the home buying process?These are questions I hear often, from first-time buyers as well as buyers from other areas. Since real estate is practiced differently in different areas, even within the State of California, I developed my:
Strategic Buyers' Plan
For Single Family Homes
We are committed to providing quality service to all of our clients. To ensure you receive the best representation possible, following are steps I typically take to help buyers successfully purchase a home:
Arrange initial meeting with … (4 comments)

silicon valley: Real Estate Recovery-Silicon Valley CA-a Cupertino Story - 07/27/11 04:22 AM
Real Estate Recovery-Silicon Valley CA-a Cupertino Story Stats for the first half of 2011:
single-family homes in Cupertino that closed escrow: 185 median sales price: $1,115,000; average days on market: 36; percent sales price to list price: 100.26% My story:
8 days ago I listed a home for sale at 21547 Rosario Avenue, Cupertino Broker tour last Thursday saw about 65 agents through the house Open houses on Saturday and Sunday afternoons had roughly 34 groups through--each day! As of last night 8 disclosure packages had been downloaded, with 2 confirmed written offers I'll be meeting with the seller … (23 comments)

silicon valley: VIDEO-January in Isla Vista, CA - 01/15/11 05:49 PM
VIDEO-January in Isla Vista, CA
I just returned from a quick visit to Isla Vista, CA where Rachael is heading next week, starting college in Santa Barbara CA later in January.
Silly as it might sound, Rachael and I drove down in her cute little Audi after my work day on Friday so we could be in town to accept delivery of her bed! If I didn't like to drive, it would be ridiculous, but the 300 miles are gorgeous, taking us through the high-tech center Silicon Valley, down the length of the Salinas Valley, dubbed the salad bowl of … (10 comments)

 


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