They say the market's slow? I don't think so especially since I had a house on the market last weekend that had over 140 visitors in two days! I don't think so. The amount of foot traffic wasn't just nosey neighbors rather many interested parties ask the right questions like:
What's the school district?
What's the square footage of the house, the lot?
How long has this been on the market?
When are you taking offers?
Silicon Valley is still hot.....
Sunday, July 8, 2007
Monday, February 5, 2007
Silicon Valley still the hot spot in CA
According to the lastest statistics given out by CAR (California Association of Realtors) it doesn't matter what you think Silicon Valley is still leading the way in property prices.
Most other parts of the State have been hit by a slump and most other parts are seeing either more property on the market or longer days on market BUT good old Silicon Valley has it's own style of doing things.
As I said at the start of the year Silicon Valley has been busy. Prices in most areas with good school districts are still high. Multiple offers are being seen in these areas. The inventory is low compared to the end of last year and compared to the rest of the State. This means competition is high.
You might ask why? Why because at any given time in a normal market there are always being buying and selling. Why? Why not, people still get married, still get divorced, still die, still move out of the State, still get promotions, still ......
life goes on and here in the Valley we know how to bounce back and that we have this year so far. The market is strong - okay it's not 2000 but it's bouncing along very nicely.
Most other parts of the State have been hit by a slump and most other parts are seeing either more property on the market or longer days on market BUT good old Silicon Valley has it's own style of doing things.
As I said at the start of the year Silicon Valley has been busy. Prices in most areas with good school districts are still high. Multiple offers are being seen in these areas. The inventory is low compared to the end of last year and compared to the rest of the State. This means competition is high.
You might ask why? Why because at any given time in a normal market there are always being buying and selling. Why? Why not, people still get married, still get divorced, still die, still move out of the State, still get promotions, still ......
life goes on and here in the Valley we know how to bounce back and that we have this year so far. The market is strong - okay it's not 2000 but it's bouncing along very nicely.
Thursday, January 18, 2007
Real Estate in Sunnyvale California
Well it's clear to me the real estate market is hotting up. Last weekend I witnessed a lot of buyers coming out and looking at properties on the market. They are clearly realizing that the market is not changing, the prices are not dropping by the 100's of thousand they would like. And interest rates are gradually creeping up. So perhaps its fair to say hey - if you have a place for sale or thinking about it, especially in areas like Sunnyvale, Cupertino, Los Altos, Mountain View and you are in a good school district - your property is hot !
Remember rule of thumb for buying and eventually selling:
Location, Location, Location!
who can deny location and when you live in a Valley where location counts and land is locked guess what - Location is all you got and if you are in a good school district - it goes back to:
Location, Location, Location and with that the top dollar will get you home!
Remember rule of thumb for buying and eventually selling:
Location, Location, Location!
who can deny location and when you live in a Valley where location counts and land is locked guess what - Location is all you got and if you are in a good school district - it goes back to:
Location, Location, Location and with that the top dollar will get you home!
Wednesday, January 10, 2007
Real Estate Buzz
I've been speaking with some other real estate agents this week and they are all reporting the same thing - the activity in the Bay Area is picking up. Inventory is down but interest has spiked. Perhaps buyers are realizing that the prices are not dropping 40 or 50% and that interest rates aren't dropping either. Looks like we are heading into a 'normal market' - what does that mean. It just means we have people buying and selling and in some areas and on some properties we will see multiple bids and on some we will just see the one offer.
So if you are thinking of selling or buying or just sitting on the fence. Hey the waters warm! Jump in.
So if you are thinking of selling or buying or just sitting on the fence. Hey the waters warm! Jump in.
Thursday, January 4, 2007
Another day in Silicon Valley real estate
Silicon Valley has to be far the strangest place at times. Though it doesn't compare to San Francisco or Sydney it is different. When I first came here I noticed that people didn't dress like in Sydney (anything goes!) and they didn't have the European cars, there was one thing that people did here that they did in Sydney.
Everyone talked about home prices. Over 10 years ago, when I first came here the prices were already sky rocketting. My gorgeous townhouse in Malvern, Victoria was worth about $100,000 US and the same type of place here was close to $200,000 US - what?? Naturally you can't compare countries to countries but you can take note that it doesn't matter where you live one conversation that everyone loves to talk about is real estate.
And it's still obvious here in the Valley. Real estate prices are on everyones discussion plate at times. People still quite don't get that in certain areas of Silicon Valley that there are still multiple offers going on. Well guess what in Cupertino, Los Altos, Sunnyvale and parts of Santa Clara that lie in Cupertino school district you are going to see the bidding war still. Because those of out there that are parents know that if there things we can give our children, food and shelter is a high priority, safety being another - Education lies close to the top of the list.
Most people in this valley have achieved what they have achieved through education and the battle is always there to compete with the next well educated person. So schools are the number one factor that determine housing costs - whether you like it or not!
Everyone talked about home prices. Over 10 years ago, when I first came here the prices were already sky rocketting. My gorgeous townhouse in Malvern, Victoria was worth about $100,000 US and the same type of place here was close to $200,000 US - what?? Naturally you can't compare countries to countries but you can take note that it doesn't matter where you live one conversation that everyone loves to talk about is real estate.
And it's still obvious here in the Valley. Real estate prices are on everyones discussion plate at times. People still quite don't get that in certain areas of Silicon Valley that there are still multiple offers going on. Well guess what in Cupertino, Los Altos, Sunnyvale and parts of Santa Clara that lie in Cupertino school district you are going to see the bidding war still. Because those of out there that are parents know that if there things we can give our children, food and shelter is a high priority, safety being another - Education lies close to the top of the list.
Most people in this valley have achieved what they have achieved through education and the battle is always there to compete with the next well educated person. So schools are the number one factor that determine housing costs - whether you like it or not!
Tuesday, January 2, 2007
Australian Real Estate Blog
I came across a great blog for Australians at home about real estate.
http://www.australianrealestateblog.com.au/blogger/realestate_blog.asp
Definately worth a visit if you are considering going home to Australia or need to understand the Australian market a bit better.
The one thing for sure about Blogs is that it is not as intimdating than a Real Estate website where you can be overwhelmed with what is going on - plus at a blog ideally you can ask questions of a realtor and hopefully they are kind hearted people and will respond caringly to your question!
http://www.australianrealestateblog.com.au/blogger/realestate_blog.asp
Definately worth a visit if you are considering going home to Australia or need to understand the Australian market a bit better.
The one thing for sure about Blogs is that it is not as intimdating than a Real Estate website where you can be overwhelmed with what is going on - plus at a blog ideally you can ask questions of a realtor and hopefully they are kind hearted people and will respond caringly to your question!
Sunday, December 31, 2006
Housing Predictions 07
Happy 07 in Silicon Valley
What can we predict for Valley Housing Market? Perhaps - perhaps not but here I go
1. Buyers are going to realize that no matter what, the market in the Valley doesn't shift significantly because at the end of the day there is limited land to develop and limited possibilities for construction.
2. Sellers have seen a run for their money and if you bought in a good school district you still have a good chance of multiple offers even in a down turning market
3. New developments are going to slow down. This market is going to hurt in 07 - and maybe you as the wise investor will get a deal in a new development but you will have to be prepared to keep it longer than we've seen the last few years. You will see more offers and incentives from developers.
4. If you price your home too high - guess what it's going to sit and sit! And we all know what buyers think of a stale home - "somethings wrong with it".
5. FSBO is becoming a dirty word - buyers are realizing it's risky dealing with them as well as 1% commission deals. You get what you pay for.
What can we predict for Valley Housing Market? Perhaps - perhaps not but here I go
1. Buyers are going to realize that no matter what, the market in the Valley doesn't shift significantly because at the end of the day there is limited land to develop and limited possibilities for construction.
2. Sellers have seen a run for their money and if you bought in a good school district you still have a good chance of multiple offers even in a down turning market
3. New developments are going to slow down. This market is going to hurt in 07 - and maybe you as the wise investor will get a deal in a new development but you will have to be prepared to keep it longer than we've seen the last few years. You will see more offers and incentives from developers.
4. If you price your home too high - guess what it's going to sit and sit! And we all know what buyers think of a stale home - "somethings wrong with it".
5. FSBO is becoming a dirty word - buyers are realizing it's risky dealing with them as well as 1% commission deals. You get what you pay for.
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