Silicon Valley Real Estate -Will the Trend Continue? Should You Buy, Sell, Wait?

Real estate prices, along with everything else, are affected by supply and demand.  Inventory has not significantly changed in the last 10 years, so it is obviously demand that has increased…

Silicon Valley is defined by the technology companies that have taken root here.  Since tech companies are growing dramatically and tech salaries are typically high, tech worker families (with 2 incomes) can afford not only to buy, but to compete for homes. Many of these tech workers have been compensated with stock and their stock sales allow them to accommodate high down payments.  The trend of the Dow Jones Industrial Average, in which these companies play a significant role, has been found to correspond to the trend of home sale prices in Silicon Valley.

Will we see a “bubble” as we did in 2008?  Unlike the 2000’s in which loans were given to buyers with questionable credit, local homes today are being purchased by buyers with strong salaries and a great deal of cash.  We don’t expect a repeat of 2008.

Even during the Great Recession when home values plummeted across the country Silicon Valley saw a later impact, a smaller impact, and a more rapid return of value.  As long as Google, Apple, Facebook, etc. continue to grow it appears that home values will do the same.

Waiting to buy, as interest rates increase (even if appreciation slows) will decrease buying power.  Waiting to sell is up to you – but the market is strong now and appears to be poised to continue.

 

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SAVE COOPER PARK in Mountain View!!

Mountain View-Whisman School District board members agreed in January to explore building workforce housing at Cooper Park, transforming a portion of the district-owned land into three-story townhouses for school staff.

The dilemma, as most residents know, is that we live in one of the most expensive housing areas in the country. The academic strength of our schools is critically important to our housing values.  But teachers have great difficulty affording housing within a reasonable commute of their school sites.

The school board could choose to build 82 studios and one- and two-bedroom townhouses in the center of Cooper Park and finance the project by selling off 36 single-family residential lots along the edges of the property at market rate. It has been said that this “won’t affect the park” used by residents in Waverly Park and surrounding neighborhoods.

The Board of Trustees of the Mountain View-Whisman School District will decide whether to pursue the sale of this land.

Email them at:  trustees@mvwsd.org to express your opinion.  And meetings are open to the public, meeting announcements are made at:  https://www.mvwsd.org/about/board_of_trustees/board_meetings

Check out the “Save Cooper Park” website at: https://www.savecooperpark.org/faq/

 

Got Fleas/Ticks? Don’t Get Bugged This Summer

Summer is right around the corner and with it comes increased bug activity! Santa Clara County is urging its residents to take extra precautions to prevent bug-borne illnesses and infestations of their properties. Click on the link below to read more on this topic.

https://tinyurl.com/ydapzd3y

Bee Removal!

Today I had my first “bee” experience!  Removal of a hive from a client’s home.  Bees are really amazing creatures, and are generally docile.  The honeycomb containing the workers, drones, and the queen are removed (the queen is “marked”) and the hive is relocated to a new home.  Not a single sting occurred.  Thanks to Mike Stang of “Stang’s Apiaries”.

If you have a hive on your property call an expert to remove it and relocate the residents.

Los Altos is Now a Non-Smoking City

The City of Los Altos has adopted a new ordinance as of March 27^th that makes smoking in public nearly impossible (and illegal). The goal of the ordinance is to create more areas where residents and visitors can enjoy smoke-free environments, as well as reduce exposure to second-hand smoke. Violators could be fined up to $200. Click on the link below for more on this topic.

https://tinyurl.com/ycmvfhld

Emergency Preparedness is Key to Family Safety

Do you know what to do if your neighborhood is hit with a natural disaster such as an earthquake, flood or fire? In many cases, time is of essence to ensure the safety of your family, pets and neighbors. Living in California and in the Bay Area we are at increased risks for certain natural disasters. Click on the link below for the 4 basic steps that your family should discuss and do NOW to prepare for a natural disaster…

https://tinyurl.com/y7ltlhem

Silicon Valley Real Estate – Will the Trend Continue?

Real estate prices, along with everything else, are affected by supply and demand.  Inventory has not significantly changed in the last 10 years, it is demand that has increased…

Silicon Valley is defined by the technology companies that have taken root here.  Since tech companies are growing dramatically and tech salaries are typically high, tech worker families (with 2 incomes) can afford not only to buy, but to compete for homes. Many of these tech workers have been compensated with stock and their stock sales allow them to accommodate high down payments.  The trend of the Dow Jones Industrial Average, in which these companies play a significant role, has been found to correspond to the trend of home sale prices in Silicon Valley.

Will we see a “bubble” as we did in 2008?  Unlike the 2000’s in which loans were given to buyers with questionable credit, local homes today are being purchased by buyers with strong salaries and a great deal of cash.  We don’t expect a repeat of 2008.

Even during the Great Recession when home values plummeted across the country Silicon Valley saw a later impact, a smaller impact, and a more rapid return of value.  As long as Google, Apple, Facebook, etc. continue to grow it appears that home values will do the same.

Waiting to buy, as interest rates increase (even if appreciation slows) will decrease your buying power.  Waiting to sell is up to you – but the market is strong now and appears to be poised to continue.