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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Celebrate Spring in Silicon Valley!

Spring is in full bloom in Silicon Valley! The San Francisco Bay Area is a great place to live no matter the season, and springtime brings out the best in our gardens and parks! Community events are also budding up throughout the area, giving you and your family plenty of things to do.

Here's just a sampling of the spring events coming up in Silicon Valley!

Mountain View proudly presents "Mountain View in Bloom" on Saturday April 23 from noon to 3:00 p.m. This family event begins with a parade starting at Castro and Villa street that continues to Pioneer Park. Outdoor activities will be featured at the park, along with games, crafts and music. Come see the beauty, relaxation and fun that Mountain View parks provide to the community!

San Jose celebrates spring, Earth Day, and the great outdoors with "Spring in Guadalupe Gardens", Saturday April 23 from 10:00 a.m. to 3:00 p.m. Over 40 vendors will be on site offering plants and artistic garden accents. Information on alternative energies and healthy living will be offered, along with plenty of fun and free music.

The City of Sunnyvale hosts the 12th Annual Health & Safety Fair on April 30 from 11:00 a.m. to 3:00 p.m. Gear up for spring and summer fun with free bike tune-ups and a U.S. Soccer Foundation clinic. Test your agility with rock wall climbing, or turn the kids loose in the popular bounce-house. Take advantage of the free health screenings and visit over 50 vendors providing health and family resources. 

The San Mateo Farmer's Market is an ongoing Saturday event that's especially attractive in the spring, when local floral producers showcase fresh-cut and potted flowers that will brighten your home. With 85 farmers and producers attending, the San Mateo Farmer's Market is one of the best in the Bay Area. Visit the market on Saturdays from 9:00 a.m. to 1:00 p.m. for fresh, locally produced food and live music.

The pride in our Bay Area communities shows in our many parks, gardens, and family events. The pride of Silicon Valley home ownership shows in our creative landscaping, gardens, and exterior design! Spring is a wonderful time of year to be a homeowner, when outdoor relaxation is a special pleasure.

If you're thinking of buying a Silicon Valley home, now's the time to shop! As your Silicon Valley real estate professional, I can show you the newest listings and share the latest market information. With my client-first philosophy, I'll help you navigate the Bay Area real estate market and help you throughout the buying process.

Contact me today, and I'll spring into action for you!

Shannon Rose
Silicon Valley Real Estate Expert
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Ready, Set, Sell in Silicon Valley!

News of the record home sale in Silicon Valley is a conversation starter with Bay Area homeowners. Some are asking if it's a good time to put their home on the market. Others are wondering how much work their home needs to attract a buyer. As your Silicon Valley real estate professional, I can help you with those questions!

Here's why it might be a good time to sell your Silicon Valley home:      

Silicon Valley is a unique market thanks to the opportunities presented by our technology and venture capital industries. Silicon Valley is the destination of choice for high-tech talent.

Our home buyers come from around the world. The diversity of our home buyers makes our market more resilient, more dynamic, and more competitive. There are always buyers for Silicon Valley.

The improving job market in Silicon Valley bodes well for prospective home sellers. Strengthening employment trends nationwide mean more competition for skilled labor and improved relocation activity.

Home buyers with children usually plan to move during the summer months, to minimize the disruption of changing schools. These buyers are looking for homes right now.

Mortgage interest rates continue to be modest.  

As encouraging as the above points are, it can be daunting to consider selling your home. You may be concerned about how your property compares against the market. It may be unfeasible to spend a lot money on upgrades. You may have heard that today's buyers are selective and bargain-driven.

Don't worry - there's a buyer for every home, especially in Silicon Valley! Here's how to give your home a good "first impression" to a buyer:

• Tidy up the exterior. Remove weeds, trim hedges, and remove litter. 
• Walkways should be swept clean of debris. 
• Paint or re-stain a worn front door. 
• Add a colorful welcome mat to the front step.  
• Water exterior plants, grasses and shrubs to green things up.
• Use colorful potted plants to liven up a front entrance or patio.
• Wash windows. Replace faded curtains.
• Interior floors and counters should be clear of clutter.
• Mirrors, appliances, plumbing and lighting fixtures should be sparkling clean.
• Paint using neutral colors. Accent rugs and wall decor can perk up a  room. 
• Add finishing touches such as decorative guest towels and tabletop floral arrangements.

Is now a good time to sell your Silicon Valley home? The answer depends on your personal situation. The very first step in the process is to contact me for information about the Bay Area real estate market. As your Silicon Valley REALTOR®, I have the latest sales data and the local expertise you need.

Contact me today, and see how my client-first philosophy helps home sellers in Silicon Valley!

Shannon Rose
Silicon Valley Real Estate Expert
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Find Silicon Valley Area Listings

Home Sale Sets Record in Silicon Valley!

In my prior blogs I've shared reasons why Silicon Valley is a great place to buy a home. I've also shared demographic info that supports the case for long-term rising values in Bay Area real estate. Another example to add is the recent purchase of a 100 million dollar home in Los Altos Hills by Russian investor Yuri Milner.

Milner is no stranger to Silicon Valley. He is the founder of Digital Sky Technologies, a Russian investment fund which holds stakes in companies like Facebook and Twitter. His purchase of the 18-acre, 25,500 square foot mansion has made him the owner of the most expensive single-family home in the United States.

The 100 million dollar price tag has caused sticker-shock response around the country. In today's market, why would Mr. Milner pay so much for a luxury home?

Maybe he knew a bargain when he saw one. Los Altos Hills has had a median price range of anywhere from $2,435,000 to over $3,000,000 in recent years. A quick look at luxury properties for sale in Los Altos Hills today shows a home on the market for $20,500,000. The least expensive home on the market in Los Altos Hills is a condo offered at $549,900.

As a professional investor, Milner has a knack for choosing young tech companies with strong growth potential. His success in venture capital placed him on the Fortune magazine list of the 50 Most Prominent Business People in the World for 2010.

Given this glimpse of Yuri Milner's professionalism, his 100 million dollar foray into Silicon Valley real estate should be recognized as a significant personal investment. No stronger vote of confidence could have been made. Certainly, his ongoing interest in Silicon Valley bodes well for the future of our high-tech start-up companies. It also bodes well for real estate!

The record home sale has put Silicon Valley in the spotlight once again. The price has amazed quite a few people! The good news is, if you're looking for a home in the San Francisco Bay Area, there are wonderful communities to choose from, and affordable homes in many price ranges.

Why not contact me today and take a look? As your Silicon Valley real estate professional, I have access to all the latest market data for Mountain View, San Jose, Palo Alto, and more! With my client-first philosophy, I'll provide you with the very best in service and information.

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

Home Inspection Tips for Silicon Valley!

In today’s Silicon Valley real estate market, buyers want to have confidence in their home purchase. Sellers want to be sure they’re getting a good price. Whether you are buying or selling a home in Silicon Valley, you can benefit from a home inspection.

It may not occur to home sellers to order a home inspection before putting their property on the market, yet the strategy has merit. If a home inspection is performed by a buyer as a purchase contingency, you could end up with a surprise if an issue is discovered.

In the worst case scenario, a problem found in a home inspection may lead to a withdrawn offer. Why wait until the middle of the sale for a home inspection? It makes better sense to know up front if your home has any issues. Then you can determine if you should address those issues before placing the home on the market. Or you could decide to adjust your asking price accordingly.

In any case, disclosing known issues pertaining to the condition of your home is your obligation as a home seller. While a home inspection report does not replace your obligation, it shows you’ve gone the extra mile. This may help put a buyer at ease, and in turn, he or she may look upon your home more favorably.

Per a 2009 survey by the NATIONAL ASSOCIATION OF REALTORS®, up to 80% of all homes for sale nationwide had pre-purchase inspections. As the use of home inspections became commonplace, the number of “home inspectors” grew dramatically. But just as real estate sales professionals like me have organizations like the NATIONAL ASSOCIATION OF REALTORS® to separate them from the crowd, home inspectors have their own associations and credentials. 

The California Real Estate Inspection Association, or CREIA, has served the California real estate industry since 1976. CREIA defines a home inspection as a visual examination of the structure and systems of a dwelling. In other words, your home and its mechanicals won’t be taken apart in the process.

These are the common inspection areas identified by CREIA:

•          Overall structural condition
•          Roof
•          Foundation
•          Drainage
•          Plumbing
•          Heating System
•          Central Air Conditioning System
•          Visible Insulation
•          Walls, Windows, Doors

Home inspectors are neutral third-parties and their task is to identify visual defects. A home inspection may result in nothing more than a list of maintenance to-do's.  Or, the report may reveal a more serious issue that needs attention. As a rule of thumb, it’s seldom cheaper to fix something later; a home inspection today could save you from more costly repairs tomorrow.

Selective home buyers in Silicon Valley know the importance of a home inspection. So do well-prepared home sellers! 

Of course, the importance of a good REALTOR® cannot be overlooked. As your Silicon Valley real estate professional, I’ll be with you throughout the entire buying or selling process. If you need a market analysis on your home, or if you’d like to see what’s new in Bay Area real estate, contact me! Let my experience and dedication to service help you reach your real estate goals.

Shannon Rose
Silicon Valley Real Estate Expert
Visit My Silicon Valley Real Estate Website
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Silicon Valley Welcomes the San Francisco Flower & Garden Show!

Nothing says spring in Silicon Valley like the arrival of colorful, fragrant blooms. A home garden can provide beautiful scenery to relax your senses, or supply a bounty of herbs and vegetables for your dinner table.  Bay area gardens flourish in all sizes, from windowsill boxes to patios to community plots. 

You can dig up new garden ideas by visiting the world-class San Francisco Flower & Garden Show at the San Mateo Event Center. The annual show celebrates “Life in the California Garden” and runs from March 23 through March 27.

New this year are "garden to table" cooking demonstrations by top Bay Area chefs, including Sean Baker of Gather Restaurant, Esquire Magazine’s Chef of the Year for 2010, and culinary icon Alice Waters, owner of the Chez Panisse restaurant and author of The Art of Simple Food.  

The restaurant luminary list rounds out impressively with Executive Chefs Andrea Froncillo of The Stinking Rose, Roland Passot of La Folie, and Jeffrey Stout of Alexander’s Steakhouse.

It wouldn’t be a garden show without gardens! You’ll find 20 full-size garden installations from the Bay Area’s foremost horticulture and landscape professionals. Design seminars feature notable experts such as HGTV personality Gary Gragg, and award-winning landscaper Jeffrey Gordon Smith.

Children are welcome at the show. “Sproutopia”, a special children’s area, will provide hands-on learning and fun for young, budding gardeners. 

The San Francisco Flower & Garden Show is one of the largest garden shows in the country, offering 75 seminars and films, 200 vendors, a full farmer’s market, wine tasting, book signings, and great food. It’s a fun way to grow your gardening skills in Silicon Valley!

A good garden, no matter the size, will improve your outdoor living space. A well-tended garden also shows pride of home ownership. If you have a growing interest in buying or selling a home in Silicon Valley, contact me for the best in real estate service!

 

Shannon Rose
Silicon Valley Real Estate Expert
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Protecting Your Credit in Silicon Valley!

Good credit is important when buying a home in Silicon Valley. Sometimes it takes a major purchase to make us think about our credit, but no matter your plans, you need to know what’s in your credit report. This sounds like common sense, but not everyone takes the time to review their credit. The risks of identity theft and credit fraud make it a necessity.  

Take a look at the big picture for a moment, and you’ll see what I mean. The Federal Trade Commission estimates that 9 million people each year become victims of identity theft. Undoing the damage caused by fraudulent use of your personal information can cost a great deal of time and money. Here are more facts from the FTC:

• Credit card fraud is the most common form of identity theft.
• Fraudulent new credit accounts took the longest time to discover.
• The longer the fraudulent activity continued, the higher the loss to the victim.
• 16% of fraud victims were victimized by someone they knew.
• 84% of fraud victims did not know who obtained their personal information. 
• Of the above, over half of the victims did not know how their info was stolen.
• 37% of fraud victims became alerted to the fraud by monitoring their accounts.

Our national affection for credit cards isn’t going away, however. The average American credit card holder has at least 3 credit cards, per a study conducted by the Federal Reserve Bank of Boston.

With these facts in mind, keeping an eye on your credit report is crucial. Fortunately, it’s also easy, and once every year, it’s free! And because I love to help Silicon Valley home buyers, I have this information handy. You can obtain a free copy of your credit report once each year at annualcreditreport.com. This website is a cooperative venture of all three major credit reporting bureaus, and is supplied as a public service.

Note that this free credit report will list your credit accounts and public records, but not your actual credit score. Still, it’s the right place to start to make sure your information is accurate.

If you wish to obtain a copy of your actual credit score, you can do so for a nominal fee by visiting MyFICO.com. FICO is the industry standard for numerical credit scoring. The site also provides useful credit tips that make it worth a visit.

Protecting your credit could help you buy a home in the Silicon Valley area. Helping Silicon Valley home buyers and sellers is my specialty! As your professional Silicon Valley Real Estate Agent, I will put my knowledge and experience to work for you. Contact me today for help with all your real estate goals!

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