Top Trends in Silicon Valley Real Estate Sales!

The latest data from the California Association of Realtors shows improving home sales for Silicon Valley! Here's a snapshot of month-to-month sales comparisons for single family homes, from February 2011 to March 2011:

• San Mateo: Median home prices increased 11.6%, from $623,000 to $695,000. Days on market improved from 33 to 27.

• Santa Clara: Median home prices increased 6.9%, from $525,250 to $561,500. Days on market improved from 39 to 27.

• Alameda: Median home prices increased 4.8%, from $458,060 to $480,250. Days on market improved from 96 to 74.

• San Francisco: Median home prices increased 12.1%, from $606,560 to $679,770. Days on market improved from 68 to 47.

Let me also explain that during this period in 2010, we saw higher market values, but this was due to the first-time home buyer tax credit that temporarily stimulated the market.

The tax credits prevented the market from experiencing quicker price reductions during the economic downturn, somewhat delaying the bottom. Now that the real estate market is operating under the "new normal" - absent of special tax incentives and under tighter credit - we can appreciate the significance of the recent month-to-month statistics.

In fact, San Francisco Bay Area real estate is a leader in the California housing recovery, showing an overall 9.7% sales price improvement from February 2011 to March 2011.

While the recent trends are positive, there are always individual considerations that come into play.

Location counts in today's Silicon Valley real estate market. For example, properties in a high-scoring school district enjoy strong attention. For other buyers, the commute and distance from their employment is more important.

The condition of the home affects the days spent on market and the final selling price. Homes that show "like new" get the strongest offers. Homes that need work tend to bring investor-minded buyers who are looking for discounts, whether or not the repairs have been factored into the price.

The size of a home creates price distinctions. Single-family, four-bedroom homes in good condition have strong pricing power. This is due to the fact there's little competition from rentals and condos. In contrast, a two-bedroom home faces more rivals for the housing dollar.

Sharing Bay Area real estate information is one of the many services I provide to my clients. If you are thinking of selling your Silicon Valley home, I encourage you to contact me today for a customized market analysis. I will listen to your needs and prepare a strategy for success in today's real estate market. Let my client-first philosophy help you sell with confidence!

Shannon Rose
Silicon Valley Real Estate Expert
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Why REALTORS® Matter in Silicon Valley!

Buying or selling a home in Silicon Valley means entering into a large and complex financial transaction. There are a number of details that require careful handling throughout the process, including the negotiations, the sales contracts and the closing.

A good real estate agent will provide you the basic services to make your transaction successful. A REALTOR® goes well beyond the basics, staying ahead of the industry curve, and adhering to a strict Code of Ethics concerning the duty to our clients.

Why do REALTORS® matter? They matter because the practice of real estate is a skilled profession – not unlike the practices of medicine, law, and engineering.

A real estate professional who chooses to join the NATIONAL ASSOCIATION OF REALTORS® (NAR) must abide by the 17 Articles and related Standards of Practice contained in the Code of Ethics. This code ensures that the best interests of the client are kept at the forefront of everything we do.

If a REALTOR® breaches an element of the Code of Ethics, he or she becomes subject to disciplinary action and sanctions. Being a REALTOR® means consistent dedication to the Code of Ethics for each client and every situation.

THE NATIONAL ASSOCIATION OF REALTORS® first organizational body was created in 1908; the Code of Ethics was adopted in 1913. Today, over one million real estate professionals are members of NAR.

REALTORS® serve the interest of homeowners around the nation by staying informed and being proactive in regulatory issues that could impact home ownership. The NATIONAL ASSOCIATION OF REALTORS® provides important statistical information on sales volumes and industry trends to the government and the media. NAR is trusted as an objective source for facts concerning the condition of the real estate market.

THE NATIONAL ASSOCIATION OF REALTORS® also provides its members with the latest updates in technology and educational resources. REALTORS® are equipped with the tools and information needed to provide excellent service to our clients.

When you consider the strength of the NATIONAL ASSOCIATION OF REALTORS®, and the dedication to the Code of Ethics that each REALTOR® must provide, it’s clear that working with a REALTOR® matters.

Buying or selling a home is a big decision. Shouldn’t you work with the best? When you’re ready to buy or sell in Silicon Valley, contact me to have all the advantages of working with a REALTOR®.

Shannon Rose
Silicon Valley Real Estate Expert
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Opportunity is Knocking in Silicon Valley!

Sales of single-family residential homes are on the upswing. The resurgence of Santa Clara County real estate is being led by the areas of Mountain View, Santa Clara, Campbell, Gilroy, and Cupertino, per year-to-year comparisons reported by the California Association of Realtors.   

Of these areas, Mountain View leads the way with a mere 63 days on market and a respectable median sales price of $891,000.

Not to be outdone, single family homes in Los Gatos priced under $2,000,000 are selling at two months on market or less, according to current data from Taketa, Miller & Associates. Meanwhile, higher-end homes in Los Altos Hills priced at $4,000,000 or more are also seeing improved market activity.

Naturally, there is variety in the Santa Clara County sales data depending on the property locale and the price range. What we are seeing is a gradual improvement in residential sales prices coupled with a reduction of days spent on market. When you add the current statistical trends to the historic strength of the Silicon Valley real estate market, it shows a sunny forecast for Spring home sales!

It’s no surprise that the demand for housing in Silicon Valley remains strong and will continue to grow.  While no area of the country was immune to the effects of a national recession, Silicon Valley has unique advantages over other markets.  Here’s just a few of the reasons why:

• Silicon Valley and the surrounding Bay Area ranks first in high-tech jobs nationwide, with 387,000 related positions.
• Silicon Valley has the highest concentration of high-tech workers in any metropolitan area, amounting to approximately 30% of its workforce.
• The average salary of a high-tech Silicon Valley employee was $144,800.00, according to a 2008 survey.
• Silicon Valley benefits from the favorable employment laws of California, which attracts highly-educated, highly-skilled workers.   
• The dynamic culture of Silicon Valley encourages start-up companies, who in turn have access to numerous venture capital providers.

All considered, it’s a good time to buy or sell a home in Silicon Valley!  As your Silicon Valley real estate agent, I understand the value of high-tech, but my business is built around personal service.  I invite you to review the testimonials from my prior clients.  Better yet, contact me today, and see for yourself how I can help you with real estate opportunities in Silicon Valley!

Shannon Rose
Silicon Valley Real Estate Expert
Visit My Silicon Valley Real Estate Website
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Silicon Valley Real Estate: The Cold Hard Facts, with a Soft Touch

As much as I love to find you interesting stories and fun events about the Silicon Valley Area and its communities, sometimes the best source of information is the quick cold, hard facts. If you are looking for a home in Santa Clara County, maybe you don't have the time to sit and chat. You just need to know the hard statistics about Silicon Valley real estate.  So here is the breakdown from a very trusted source, the CALIFORNIA ASSOCIATION OF REALTORS®.

San Francisco Bay Area Information:
Median Price: $553,620
Length of time from listing to opening escrow: 55.0
Number of months it would take to sell all homes on the market at the current sales rate: 5.2
Median Price for homes in San Jose: $400,000
Median Price for homes in Mountain View: $656,500

Santa Clara County Facts:
Located: South Bay
Size: Just over 1,300 square miles
Cities: Cupertino, Gilroy, Los Altos, Palo Alto, and San Jose, as well as the Silicon Valley

Useful Santa Clara County Websites:
http://www.santaclaracountylib.org/
http://www.sccoe.k12.ca.us/default.asp
http://www.2chambers.com/californ2.htm

Now that I have told you what you need to know, let me tell you what you want to know. After all, when it comes to living in Silicon Valley, beauty and pleasure are as much a part of the lifestyle as facts and figures...

Living in Silicon Valley means having outdoor activities like golfing, kayaking, and scuba diving at your fingertips.

Culture flows from the streets - from art galleries and museums to eclectic shopping and wineries to die for.

A great school system and a priority on community makes neighborhoods like Mountain View, California and Willow Glen, California wonderful places to raise a family, grow up, or grow old.

If you want to know more Silicon Valley facts, hard or soft, let me know. I'm a Silicon Valley Real Estate agent that values facts and information, but never discounts that being your agent means finding you a place to call home – a very personal journey. Whatever you need from me, I am here to help.

Shannon Rose
Silicon Valley Real Estate Expert
Visit My Silicon Valley Real Estate Website
Find Silicon Valley Area Listings