Good Schools a Major Factor in Real Estate Value

According to a Realtor.com report, most home buyers are looking to purchase their next home in a “good” school district. This requirement has priority over many other “must-haves” on their list. Click on the link below for more details.

https://tinyurl.com/y9a5akun

There are several ways that residents and buyers use to measure “good” performance.  Many people use the “Great Schools” rating system which bases performance on a 1-10 scale.  The older measure used by the California Department of Education – “API” or Academic Performance Index score is no longer utilized in California, 2013 is the last year this metric was used (although some people still rely on this data).  High schools are often evaluated based on advanced placement curriculum and the ability to produce measurable academic outcomes (see U.S. News and World Report, Best High Schools).

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Supply & Demand Dictates Home Prices

According to the National Association of Realtors (NAR), home prices in 2018 will continue to be influenced by the law of Supply & Demand –  the low number of homes for sale versus the number of buyers looking for homes to purchase. It is expected that our area will continue to appreciate based on the strong demand, however, their report also notes the first increase in supply in several years. Click on the link below for more details.

https://tinyurl.com/ydd2p5uj

Mountain View Summer Wind-Down Activities

Only a few more weeks of summer break remains before the kids head back to school next month, but the city of Mountain View still has several local family-oriented summer events to help ease the transition. Here’s a list of some of the remaining summer-time activities:

Concert on the Plaza

Civic Center Plaza, 500 Castro Street, Mountain View, 6:00 p.m. to 7:30 p.m.

August 3, 2018 – Garrick Davis

September 7, 2018 – Jerry Jay Quartet

Theatre in the Park

Peninsula Youth Theatre and the City of Mountain View present children’s theatre on the Center’s outdoor ParkStage (located at 500 Castro Street, adjacent to Pioneer Park), 630pm.

August 3: Blather, Blarney, and Balderdash

August 10: Aladdin

Summer Outdoor Movie Night

All movies begin at 8:30 p.m. or when dark outside. Bring a blanket or lawn chair to sit on.

August 3, 2018 at Eagle Park – Cars 3

August 10, 2018 at Rengstorff Park – Smurfs: The Lost Village

August 17, 2018 at Whisman Park – Coco

 

Got Pool? Residents Looking to Cool Off

With the current heat wave, many local residents have been thinking of adding a pool or renovating the one they already have. According to the Los Altos Building Division, there has been an increase of requests for pool construction permits this summer. Click on the link below for more on this topic.

https://tinyurl.com/y7oq9ckh

Real Estate is Still the Best Investment!

It should come as no surprise that most Americans still believe that you get more long-term bang for your buck via real estate. Over the last 5 years, real estate has surpassed other popular investment opportunities, including the stock market and mutual funds. Although most Realtors believe you shouldn’t think of your primary residence as an “investment”, the results show otherwise.  Click on the link below for more details.

https://tinyurl.com/ybn95eps

 

Los Altos Offers Emergency Preparedness Training

The City of Los Altos is reaching out to its residents to attend their next Community Emergency Response Team (CERT) training course scheduled during the month of September at the Hillview Community Center. Police and firefighters are the first responders in the event of an earthquake or other disaster but local residents also play a key role in helping themselves and their neighbors. It’s all about community readiness. Click on the link below for more details and instructions on how to sign up.

https://tinyurl.com/yacwsukf

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.