Wednesday, August 10, 2016

Silicon Valley Real Estate Shows No Slowdown in Tech Industry

SECRET PROPERTY ALERT!: 2851 Agua Vista Dr in San Jose. 3 bed 2 bath, 1,838 SF on a 6,000 SF lot. Built in 1977 and needs some updating in the kitchen and bathrooms. Should sell around $900,000. Let me know if you or someone you know would like a private showing before we put it on the market in September.


SECRET PROPERTY ALERT #2!:
543 Irving Ave in San Jose. 3 bed 1 bath, 1,215 SF on a 5,700 SF lot. Nice central location, 2 miles to Santa Row, and built in 1939 so it has tons of charm. Should sell around $840,000. Let me know if you or someone you know would like a private showing before we put it on the market in the coming weeks.
 

IN CONTRACT:
35-45 Ridge Rd in San Anselmo. 2 bed 2 bath, 1,324 SF home with a view. Asking price $888,000 and negotiated a $9,000 reduction to a sales price of $879,000.
  

IN CONTRACT:
3559 Walton Way in San Jose. Sold for $1,275,000 ($75,000 above asking) with multiple offers. 4 bed 3 bath, 2,200 SF, 2 story home in a very well-established neighborhood (my across the street neighbor). BRAND NEW TECH ***360 Degree Pics: https://goo.gl/photos/QjLAaccnNQxUGU5b7 ***
 

OFF MARKET SALE IN CONTRACT:
12230 Mellowood Dr in Saratoga. In escrow for $1,350,000 as an off market sale. It is a 3 bed 2 bath, 1,300 SF, 1 story older home located in Saratoga. The seller preferred a quick sale so I was able to find a buyer from my own personal network within days of our initial meeting. BRAND NEW TECH ***360 Degree Pics: https://goo.gl/photos/h8zsjQL6xo79SwmY7 ***


SOLD:
2210 Canyon Lakes Dr in San Ramon. Sold for $5,000 above the asking price of $900,000. It is a 4 bed 3 bath plus a den, 2,350 SF, 2 story newer home located on the 8th tee at the Canyon Lakes Golf Course in San Ramon. BRAND NEW TECH ***360 Degree Pics: https://goo.gl/photos/GxbjvPjG2hEpJBU7A ***
 

BAY AREA MUST READ: Silicon Valley real estate shows almost no slowdown in tech
Despite a slowdown in tech startup funding and a hammering of certain public tech stocks earlier this year, Bay Area commercial real estate is as hot as ever. "There has been a lot of negative banter about tech slowing," said Hudson Pacific Properties CEO Victor Coleman. In fact, quite the opposite is happening, he said. "Even as certain private companies reign in on expenses, they continue to view the growth of successful business lines and recruiting as paramount, which impacts…
(To read this article please visit my Facebook Fan Page https://www.facebook.com/NathanRealEstate)

BAY AREA 2ND MUST READ: Who’s leaving California? Not who you think.
For more than a generation, opportunistic California politicians have barraged voters with woeful tales about how the most productive, inventive, wealthy and enterprising Californians are leaving this state in droves to avoid high taxes and excessive government regulation.

These stories, used successfully by the likes of Pete Wilson and Arnold Schwarzenegger while running for governor, and unsuccessfully by failed candidates from Bill Simon to Meg Whitman and Neel Kashkari, tell of rich Californians seeking greener pastures in more laissez faire states like Texas and Idaho.

There’s only one problem with those stories: They don’t match the facts, even though…
(To read this article please visit my Facebook Fan Page https://www.facebook.com/NathanRealEstate)

RECENT EXPERIENCES:


  • Helped a buyer navigate a tricky home with potentially deal breaking foundation issues.
  • Performed long term analysis of rental income vs. lost opportunity costs from selling.
  • Helped a seller reach an expected sales price conclusion for a property based on comparables.


THINGS I CAN HELP WITH:


  1. Considering selling in the next 18 months? Let me know and I can give you advice and strategies to obtain top market value.
  2. Looking for a home in a specific school district? My website can do that for you.
  3. Looking for a home with an “open floorplan” or “big backyard”? My website can do that too.

Email me for these CUSTOM services.

Selling before buying can be really tricky in a market like this, but you do have options. Let me help by first
filling out this form so I can get started on pricing your current home, and then we can discuss options to prevent a double move, or worse, not being able to buy the replacement!

FORECAST: The market is perfect right now for move up buyers. The hot frenzy of buyers has cooled, so now there are fewer multiple offers than before so a buyer who needs to sell before buying has a good chance of getting their offer accepted. I think this trend will continue through the end of the elections.

RECAP: Santa Clara County
Inventory is DROPPING slightly from the highs we saw in June and July. People are either selling their place or taking their homes off the market and waiting for another time to sell. This is an indication that prices will rise over the foreseeable future.

RECAP: San Mateo County
San Mateo County looks to be following suit with Santa Clara and San Francisco. CALL ME IF YOU NEED ANY SPECIFIC INFORMATION.





Housing Inventory Snapshot
July 28, 2016

Average List Price
30 Days Trend
Median List Price
30 Days Trend
Average DOM: active/sold
30 Days Trend
Number of Listings
Alameda County, CA
Single Family under $1M
$679,873
-0.72%
$689,900
-1.30%
30
1
922
Single Family over $1M
$1,760,567
0.73%
$1,400,000
0.14%
52
5
388
Condo/Townhome under $600K
$452,296
-3.74%
$450,000
-7.22%
22
2
249
Condo/Townhome over $600K
$754,398
-0.17%
$709,000
-0.84%
30
6
154
San Mateo County, CA
Single Family under $1M
$815,454
-0.37%
$839,000
4.94%
35 / 15
6 / -6
137
Single Family over $1M
$3,589,419
0.97%
$1,975,000
3.95%
69 / 18
8 / -5
384
Condo/Townhome under $600K
$510,845
0.48%
$538,000
6.53%
28 / 7
4 / -11
42
Condo/Townhome over $600K
$1,017,157
0.83%
$850,000
-5.35%
25 / 9
-5 / 3
85
Santa Clara County, CA
Single Family under $1M
$794,024
-0.65%
$799,000
0.00%
35 / 18
1 / 2
587
Single Family over $1M
$2,367,143
-0.72%
$1,650,000
-2.37%
54 / 23
0 / 1
857
Condo/Townhome under $600K
$471,348
0.86%
$485,000
-0.82%
27 / 19
2 / -3
169
Condo/Townhome over $600K
$888,000
-4.13%
$798,900
-3.75%
28 / 24
-4 / 8
246
San Francisco County, CA
Single Family over $575K
$2,267,459
-6.99%
$1,350,000
-2.10%
62
4
235
Condo/Townhome under $340K
$279,031
-3.63%
$294,245
-1.59%
52
20
11
Condo/Townhome over $340K
$1,511,220
1.04%
$1,159,000
-3.26%
58
-5
388

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.

* Mortgage rates were collected from publicly available sources (yahoo.com) 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.

Applying Cutting Edge Systems and Strategies to Find the RIGHT Buyer or Seller in ANY Market.

Warm regards,
Nathan Nahouraii