Monday, February 6, 2012

Housing Looking Up for Silicon Valley

FOR SALE: 117 Pinon Dr in Portola Valley $2,449,000  

IN THE TRENCHES: Nathan’s Recent Experiences
·         18 groups came through my open house on 117 Pinon Dr in Portola Valley. At one point I had 6 different groups walking through the home at the same time.
·         Wrote an offer on a duplex in Oakland priced at $350K. It had 21 offers and sold for over $450K.
·         Wrote 4 offers on properties in San Lorenzo priced between $200K and $250K. Each property had between 3 and 10 offers. Most sold to cash buyers, even a short sale.

January Unemployment Rate Falls to 8.3 Percent as 243,000 Jobs Are Added
The Labor Department said Friday that January unemployment fell to 8.3 percent as employers added 243,000 jobs, a sign that the economy is at long last settling into a stronger recovery. Economists had expected the unemployment rate to tick up slightly to 8.6 percent and jobs would rise by 155,000. The fifth straight monthly decline for unemployment caused a surge in stocks, with the Nasdaq index at an 11-year high and the Dow Jones Industrial Average approaching its highest level since May 2008. Stephen Bronars, chief economist with Welch Consulting, said the "very strong" report gives reason for optimism. The Dow passed 12,869 ...

Foreclosure activity drops 20 percent in Santa Clara County
Foreclosure activity in California dropped in the fourth quarter of 2011 to the second lowest level in more than four years, a significant shift that could be due to evolving lender and mortgage servicer policies and changing market conditions, according to a real estate information service. In Santa Clara County, the number of homes going into foreclosure dropped more than 20 percent in the fourth quarter of 2011. DataQuick reported statewide, a total of 61,517

Market Recap
The chart below shows that cities east of highway 880 are still experiencing a very high demand for housing.

For Comparison: Sales in the cities west of highway 880 are becoming stronger.
Market Snapshot
The table represents aggregated values based on MLS data for the specified date.
As always I welcome referrals from friends, co-workers or family members looking to buy a piece of property.  I am also happy to provide unbiased sound advice at any time. You can rely on my integrity and follow-through.

Energy Upgrade California!
Eligible California homeowners can access up to $25,000 for energy-saving projects like insulation, heating and cooling systems, and solar panels. Visit for more information.

* Mortgage rates were collected from publicly available sources ( on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes only and are subject to change without notice. Actual market interest rates may vary.

I provide guidance and build confidence in people, enabling them to reach their full potential and turn their dreams into reality.

Warm regards,
Nathan Nahouraii
Direct: (408) 404-6444
Direct: (415) 236-3826
Direct: (650) 352-5322