What is my Mountain View, CA home worth?

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Real Estate Agent with (408) 425-1601 CA bre 1519182

                                  Sam Shueh

 Realty One Group

                                                 Silicon Valley, CA

 

This area is west of Moffett-NASA Ames complex east of Palo Alto in south of  Bay shoreline and just north of Los Altos. It consists of lots of smaller homes and apartments tailored high technology workers. Castro Street and El Camino Real are city most vibrant business streetswith restaurants and outdoor cafes. 

 

                         Mountain View in relation to Santa Clara County

                  

                   Single Family homes: 3 br+, 2 bath+ (1300-2000 sf) 

                                                    Total listings SFH = 14

                             Inventory: 0.6 month (2.5 month is healthy)

                              unemployment rate=2.9%

                            Sold/Asked=110% was 114 and 121% previously

                              Marketing time=10 days

                          

                 $1.831 M (Apr-June 2016)   $1.834 M (1 yr ago) - 0.2%

                 $1,120/sf                          $1,126/sf                 -0.5% 

Since late 2014 the teens (+15% and +10% price increase) enjoyed during 2013 through 2015 have come to a crawl. Before the creation of Google, Linkedin and Microsoft MSN, Powerpoint, Intuit, Mozilla and other nearby companies like Facebook. The town has had unemployment several times when several companies went under (e.g. SGI, video games, and amusement park rides). In recent year Internet Giants has endless users love to click on advertisements. The company uses its revenue to fund self-driving car, Android and Nest technologies that few other companies can match fundings.   

Sold vs List ratio                                                     Historical Sold vs Listed SF Home prices-Mtn View, CA

 

Consider this, if one wants a "typical" home bought at $1.85M with 20% down payment at 3.75% mortgage interest the monthly PITI is over $9,300. The minimum required annual income for the 80% mortgage is over $370,000. That does not include car payment, credit cards payments or any other loans. Often the buyers work near by with stock options. The down-payment is often coming from the stock options offered but many dual income wagers do have that kind of savings. Recently these company stocks have not gone up much and one needs to dig into their savings and 401K for it. As a result, the home price has virtually stalled  even with an excellent employment in Silicon Valley. The public schools are Mtn View Whisman and MV-Los Altos high schools. They are good but not exceptionally famous. Most homes there are either modern on smaller footprints or older cottage style homes. 

                                                Palo Alto Avg sold home prices

                                                  Historical  avg sold home prices in Palo Alto (1300-2000 sf) 

We are having a fantastic real estate boom since last quarter of 2011. It has been over 5.5 years. There are no imminent layoffs except VMware. Linkenin has been acquired rencently by Microsoft.

 

The market momentum seems to suggest it will be the same as no one is anticipating major layoffs at least not anytime soon. Brexit worries hopefully will not cause a problem too long to affect real estate prices.

Mountain View home price momentum                                     Mountain View Home price momentum

 

SOURCE:

 West Silicon Valley homes Q1 2016 (West Silicon Valley Home Prices)

 Silicon Valley West side homes (2016 quarter 1 West side Silicon Valley home)

 Shueh, Sam    (Sam Shueh Blogs)

  Shueh, Sam     (Sam Shueh Realtor website)


  

Sam Shueh

I've called San Francisco South Bay home for over 30 years. We love this area and all it has to offer, and I enjoy sharing what I know about homes.  I documented in several books about Silicon Valley history. I have much expertise in real estate...please give me a call. ( Four-O-Eight)  425-1601  Sam Shueh Realtor site

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Topic:
Real Estate Best Practices
Location:
California Santa Clara County Mountain View
Tags:
palo alto real estate
santa clara county homes
silicon valley homes
sam shueh
los alto homes
mountain view ca homes

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Rainmaker
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Rebecca Gaujot, Realtor®
Vision Quest Realty - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Glad you area is booming, Sam. Since the flooding in Greenbrier County, many listings have been cancelled as homes have been destroyed,  or water and mud in homes that make them unlivable.

Jun 27, 2016 07:10 AM #1
Rainmaker
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Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Rebecca Gaujot, the Go To Realtor® 

It is devastating that natural disaster created a problem.  In 1987, the Loma Prieta earthquake-a helicopter parked near our house made headline on the national news. I don't know how many calls we got to urge us moving out the earthquake country. I think RE activities were disrupted for awhile. I wish you the best.

Sam

Jun 27, 2016 08:30 AM #2
Rainmaker
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Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Sam Shueh , Thanks for sharing the information on Mountain View, CA

Jun 27, 2016 10:38 AM #3
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Hi Sam.  Thanks for keeping us updated with the Mountain View, CA real estate market.

Jun 27, 2016 08:40 PM #4
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Rainmaker
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Sam Shueh

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