Real Estate in Silicon Valley
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Good Real Estate Agent Versus A Bad Real Estate Agent

Good Real Estate Agent Versus A Bad Real Estate Agent | Real Estate in Silicon Valley | Scoop.it
Selling your home or purchasing a new one can be a stressful event for everyone involved.

Via Sundaybell
CJ Brasiel's insight:

Excellent outline of great service from real estate professional to client!

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Sundaybell's curator insight, October 21, 2013 11:03 AM

Remember, a good real estate agent can only be "good" if you are clear about your parameters in advance

Jesse Arreola's curator insight, October 23, 2013 1:30 AM

Buying a home is not like buying a pair of shoes, it may be the biggest investment you will ever make in your life.  Make sure you pick a Real Estate Agent with integrity and honesty.  We at Keller Williams are taught to do business that is a win win or no deal. Here are some tips on choosing the right agent for the job. 

Real Estate in Silicon Valley
Real estate market information for Willow Glen, Los Gatos, Cambrian Park, and Campbell
Curated by CJ Brasiel
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Apartment tower proposed for Ross store in downtown San Jose, which is soon to close - Silicon Valley Business Journal

Apartment tower proposed for Ross store in downtown San Jose, which is soon to close - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
Ross's departure is not a good sign for traditional chain retail's prospects downtown, but its replacement reflects strength in another sector: Housing. Developers currently have plans to add more than 5,500 residential units in the downtown district, though not all of those are likely to get built. Another 2,555 units in the district are under construction, according to the San Jose Downtown Association. It's all being driven by tremendous rent growth as well as increasing demand to live in more urban, transit-oriented environments, developers say.
CJ Brasiel's insight:

Here's the good news; more supply to meet demand may mean a little price break?  Hey, I am looking for positive for all sides. Downtown, is building apartments. We need more places for folks to live. OK.

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Could The Second Half of 2016 Spell Trouble for Housing? - DSNews

Could The Second Half of 2016 Spell Trouble for Housing? - DSNews | Real Estate in Silicon Valley | Scoop.it
“A stronger economy, more jobs, lower unemployment, and higher wages will power demand,” says Smoke. “Higher rates will also likely help loosen credit. Those positive conditions coupled with demographic tailwinds from millennials and boomers will keep the U.S. housing market healthy and strong for at least two more years.”
CJ Brasiel's insight:

I understand headlines like this will grab our attention.  There is no doubt this crazy election is going to make us all shake our head and wonder what will happen?

 

Bottom line, not much has changed in the Bay Area in the housing market except affordability.  However, high rents keep people asking themselves, "Shouldn't I buy and build my own equity instead of paying this high rent and no tax benefit?".

 

We do not have enough inventory to meet demand, so appreciation will continue.  No rise in interest rates keep demand high.  Basic demographics and job growth fuel demand.  Pieces that are missing, are higher wages and better municipality planning. 

 

There most likely will be a flattening of appreciation in this next 6 months.  But let's be clear we are talking about single digit appreciation verses double.  Then again, this may simply be the summer doldrums. 

 

Watch the election, watch the rates, but also keep watching the market.  Buying a house in this market is only for those looking hard.  If you need someone to help you look, let me know.

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Silicon Valley rental market is leveling off - Silicon Valley Business Journal

Silicon Valley rental market is leveling off - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
While San Jose's average $2,503 rent was lower than the county or cities like Sunnyvale and Mountain View, the rate of increase outpaced its peers. Rent rose 4 percent in the Bay Area's largest city over the last year, compared to 3 percent in Mountain View and 1.8 in Sunnyvale. (See infographic at the bottom of this article to see more details about rents in specific cities.)
CJ Brasiel's insight:

Hard to predict a market leveling off by stats in July.  The survey also only included rental units 50 or more.  The anecdotal numbers do not seem to be leveling off for single family homes or condo/townhome rentals. 

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Sunnyvale: Eichler neighborhood asks to be free of two-story homes

Sunnyvale: Eichler neighborhood asks to be free of two-story homes | Real Estate in Silicon Valley | Scoop.it
A portion of a Sunnyvale neighborhood, consisting of mostly Eichler homes, successfully convinced the city council to introduce an ordinance to modify the area's zoning to be limited to single-story homes.
CJ Brasiel's insight:

Well, chalk one up for the some historical preservation of a neighborhood in a different way.  Eichler was an amazing individual and I am glad to see this architectural style will remain without the looming Mc Mansions to the right and left.  Good work!

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Middle Class Shrinking In Americas Major Metropolitan Areas

Middle Class Shrinking In Americas Major Metropolitan Areas | Real Estate in Silicon Valley | Scoop.it
Pew Research Center's latest analysis again shows middle class shrinking. #Bisnowintel
CJ Brasiel's insight:

A key message for all Bay Area municipalities.  Better planning, more affordable options, and this must be considered at a neighborhood, city, and regional level.  Lots of work to improve communities and to create a more stable real estate market.

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Everything You Need To Know About The Apple 2 Campus

Everything You Need To Know About The Apple 2 Campus | Real Estate in Silicon Valley | Scoop.it
Apple's brand new $5B spaceship campus will be a pioneer in green technology.
CJ Brasiel's insight:

Holy orchard fruit, Batman!

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Building Wealth: First Rung on the Ladder is Housing

Building Wealth: First Rung on the Ladder is Housing | Real Estate in Silicon Valley | Scoop.it
How Housing Matters is a joint project of the Urban Land Institute and the MacArthur Foundation. It is “an online resource for the most rigorous research and practical information on how a quality, stable, affordable home in a vibrant community contributes to individual and community success”.
CJ Brasiel's insight:

Long hold real estate is the key.  Recent study from Core Logic showed the United States 91% of homeowners have equity in their home.  Californians? 93%   Grow Equity!

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$600,000 planning project will prepare Diridon Station for high-speed rail's arrival - Silicon Valley Business Journal

$600,000 planning project will prepare Diridon Station for high-speed rail's arrival - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
Caltrain is expected to increase Diridon service after electrification in 2020, and BART is planned to arrive at the station via a tunnel beneath Santa Clara Street by 2025.
CJ Brasiel's insight:

I hope to see this happen in my life time.  The mass transit improvements may be too little too late but any progress in that direction is absolutey necessary.  Suburbs can help create housing inventory but will only work if there is an efficient way into work.

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Relationship Between Slow Economic Growth and Income Inequality is Tenuous - DSNews

A commentary published by the Cleveland Fed found that slow economic growth has had little effect on income and wealth inequality in the U.S.
CJ Brasiel's insight:

So, if I understand this right, even if lower income workers receive an increase in wages due to an improving economy, it actually creates more inequality because the wealthy experience larger growth than lower income during good times. 

 

The slower the econonmy growth, the less wealth difference? Makes logical sense.  Where's the model for more wealth equality?  Just curious.

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Bay Area has nine of the nation's 25 ZIP codes with the most expensive houses - Silicon Valley Business Journal

Bay Area has nine of the nation's 25 ZIP codes with the most expensive houses - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
Let’s face it, anytime the 95070 ZIP code (Saratoga) is at the bottom of an expensive list, it’s a very expensive list.
CJ Brasiel's insight:

If you don't think millenials will reconsider the suburbs; read on.

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Freddie Mac - U.S. Housing Market Continues to Show Strong Improvement

Freddie Mac - U.S. Housing Market Continues to Show Strong Improvement | Real Estate in Silicon Valley | Scoop.it
The most improving states month-over-month were Oregon (+2.04%), Colorado (+1.90%), Nevada (+1.88%), Florida (+1.66%) and Maine (+1.55%). On a year-over-year basis, the most improving states were Florida (+15.72%), Oregon (+14.03%), Colorado (+13.54%), Washington (+12.73 %) and Nevada (+12.26%).
CJ Brasiel's insight:

Caution Will Rogers!

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Forbes Billionaires: The 7 Wealthiest Women In The World (VIDEO)

Forbes Billionaires: The 7 Wealthiest Women In The World (VIDEO) | Real Estate in Silicon Valley | Scoop.it
For Women's History Month, here are the seven wealthiest women in the entire world. And it includes a commercial real estate mogul who barely turned 50.
CJ Brasiel's insight:

Impressive video on top women in the world.  Who knew saturated hazlenut spread could make you a billionaire.

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RISMedia

RISMedia | Real Estate in Silicon Valley | Scoop.it
The five most expensive housing markets in the fourth quarter were the San Jose, Calif., metro area, where the median existing single-family price was $940,000; San Francisco, $781,600; Honolulu, $716,600; Anaheim-Santa Ana, Calif., $708,700; and San Diego, $546,800.
CJ Brasiel's insight:
City leaders must find a way to not only to streamline the building application process, but also must evaluate the balance between multi-unit living with detached homes with back yards. One type of construction will not satisfy all of the buyer market.
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Apple lease in Santa Clara could force VTA back to the drawing board over BART extension plans - Silicon Valley Business Journal

Apple lease in Santa Clara could force VTA back to the drawing board over BART extension plans - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
VTA is trying to head off a conflict over a critical piece of real estate that Apple leased last year in a surprise move. Depending on how the situation unfolds, it could add millions of dollars to the BART extension’s price tag, force both sides into court or precipitate changes to the existing construction and operating plan.
CJ Brasiel's insight:

I am sure they will work this out. But, ouch! Come on Apple, throw us a bone. 

 

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Is China’s Love Affair With The US Ending?

Is China’s Love Affair With The US Ending? | Real Estate in Silicon Valley | Scoop.it
Is China's love affair with the US ending?
CJ Brasiel's insight:

Maybe so, maybe not.  With BRITAX, word on the street, the Chinese investors will return.  Also, many believe the wealthy removed their money from China years before this moratorium. 

 

However, the Bay Area may not be as popular because of entry prices and the thirst for simple homes to house students attending U.S. universities, may be better suited for areas like Chico, Fresno, and Sacramento.  


Let's see what happens. In my experience, foreign investors have less issue seeing the value of U.S. dirt than U.S. citizens.  There's a script for you in these interesting political times.

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Silicon Valley State Senator's in-law unit bill SB 1069 passes senate - Silicon Valley Business Journal

Silicon Valley State Senator's in-law unit bill SB 1069 passes senate - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
The bill's provisions include eliminating parking requirements for secondary units located near public transit, speeding up the approval process and getting rid of duplicative utility hook-up fees, which have already been paid by owners for the main unit.
CJ Brasiel's insight:

This is such an important issue for Santa Clara County as well.  We need to allow more use of detached garage conversions with concise regulations on how to convert and with a timely process to do so. 

 

Many home owners could afford to stay in their home longer if they were able to generate passive income on their current home.  To be able to use appropriate space home owners already have in a way that benefits our communities in different ways.

 

Times are changing.  We need more homes and we need a clear and safe way to create living spaces effectively and efficiently.

 

 

 

 

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Not Just Equities: Chinese Investments In American Real Estate Now Tops $100 Billion - ValueWalk

Not Just Equities: Chinese Investments In American Real Estate Now Tops $100 Billion - ValueWalk | Real Estate in Silicon Valley | Scoop.it
Residential property: Between 2010 and 2015, Chinese buyers spent at least $93 billion on homes, including condominiums, for occupancy and investment. Spending rose at an annual rate of 20% and provided important demand in many local markets hit hard by the housing crisis. Chinese buyers paid substantially more, on average, per home than other international buyers because of their concentration in prime neighborhoods in California and New York.
CJ Brasiel's insight:

Not news to anyone within 100 feet of any real estate conversation in the Bay Area.  There are at least two of the new high rise apartment plans in downtown San Jose, are Chinese Investor Groups. 

 

I hear that residential investors are now moving to more affordable areas near the Bay Area.  Recent article stated Sacramento rents are seeing double digit increases this year.  A tale-tale sign of investors moving into areas and purchasing residential rentals.  New owner, new rent amount. 

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Average SF Millennial Must Save Until 2044 To Buy Home

Average SF Millennial Must Save Until 2044 To Buy Home | Real Estate in Silicon Valley | Scoop.it
According to a study by Apartment List, twenty- and thirty-somethings in San Francisco will have to spend nearly 28 years saving up for a down payment on their first home, which is longer than most of them have been alive.
CJ Brasiel's insight:
We will have to see if this post impacts the number of Tesla $1000 deposits.
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Silicon Valley apartment rent still rises in Q1 2016, but by a bit less, Real Answers says - Silicon Valley Business Journal

Silicon Valley apartment rent still rises in Q1 2016, but by a bit less, Real Answers says - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
In Santa Clara County, the average asking rent for a one-bedroom apartment reached $2,361, up $23 from the prior quarter and 6.5 percent — or $143 — from a year ago, Real Answers said. The figure represents advertised rents for new leases at larger communities of 50 units or more.
CJ Brasiel's insight:

I like Nathan's comment on rentsl  "prices could come back to earth". Yes, after jumping nearly 10% in most areas and some even higher, some renters will move out to more distant parts of South County and Contra Costa County.  That will slow demand in 2016 but not by much.  However, I will say if Landlords want even higher rents, they will start accepting pets and multiple tenants on a lease. 

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SocketSite™ | Top-Tier Bay Area House Values Slip, Condos Hit New High

SocketSite™ | Top-Tier Bay Area House Values Slip, Condos Hit New High | Real Estate in Silicon Valley | Scoop.it
That being said, the overall index remains 10.5 percent higher versus the same time last year, 61 percent higher versus January 2010, and the index for condo values has hit a new all-time high.
CJ Brasiel's insight:

The concept of a 30-year mortgage was initially instituted as an affordability option.  Now it is the standard in a mobile society that expects to move every 3-5 years.   A 10-year hold on a real estate investment can be the difference of a millenial decision to buy a house and rent.

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Bay Area residents love what tech does, hate what it brings, new Charles Schwab survey shows - Silicon Valley Business Journal

Bay Area residents love what tech does, hate what it brings, new Charles Schwab survey shows - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
The recent study highlights the balancing act that Bay Area locals have to find between having a good quality of life while also getting ahead financially.
CJ Brasiel's insight:
Great post and not surprising.
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West San Carlos micro apartments proposed for used car lot - Silicon Valley Business Journal

West San Carlos micro apartments proposed for used car lot - Silicon Valley Business Journal | Real Estate in Silicon Valley | Scoop.it
Units would include 379 square feet of living space on the main level plus a 162-square foot mezzanine/loft and a 32-square-foot closet, for a total of 573 square feet of usable space per unit.
CJ Brasiel's insight:

I like this idea.  Not sure it is "mico" as many 1 bedroom/1 bath condos have about 500 sq ft.  Either way, this opens up a great opportunity for many first time buyers. 

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How Plunging Oil Prices Threaten the U.S. Economy

How Plunging Oil Prices Threaten the U.S. Economy | Real Estate in Silicon Valley | Scoop.it

Filling up your tank at the gas station has never felt so good, and it’s been a while .BUT The economies of oil-producing states like Texas, North Dakota, Alaska, Oklahoma, Wyoming and New Mexico are being hit by the plummeting prices of crude.


Via Michael Stuart
CJ Brasiel's insight:
It is interesting that many of the areas suffering now, were also some of the same areas that did not get hit as hard by the previous housing crash. Why? Because the local fuel economy was doing very well. Now, we see other parts of the country impacted by oil speculation verses real estate speculation.It is becoming clear, the cyclic nature of markets may be become a faster and more intense highs and lows as we move toward a global village economy.Your thoughts?
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Michael Stuart's curator insight, February 19, 12:25 PM

Tax revenues in Texas from oil and gas production plunged 48 and 51 percent, respectively.


“As we weigh the evidence, we think Texas will have a rough YEAR ahead, and is at risk of slipping into a regional recession,” That in turn could again cool off the hot Texas housing market, for one thing.


Yet there’s little reason right now to fear that it will translate into nationwide weakness: “The national economy performed quite well in 1986, in spite of the Texas recession.”


In the mid-1980s, when the world experienced another oil glut, oil-pumping regions of the country experienced a recession even as the rest of the country was doing well. “It’s likely some of that will happen again this time,” says James Hamilton, a professor of economics at the University of California at San Diego.


Even as most state economies suffered mightily during the Great Recession and its aftermath, the Lone Star State enjoyed a relatively strong and fast recovery, greased by soaring oil prices that supported the regional job market and state tax revenues.


The U.S. oil boom has largely been a story about North Dakota and Texas. Together, as J.P. Morgan economist Michael Feroli noted in a research report on Thursday, the two states have accounted for more than 90 percent of production growth over the past five years.


Texas alone is responsible for 67 percent of the nation’s increase in crude production over that time span, and the state’s share of total U.S. output has surged to more than 40 percent.


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Home 'flipping' exceeds peaks in some hot U.S. housing markets

Home 'flipping' exceeds peaks in some hot U.S. housing markets | Real Estate in Silicon Valley | Scoop.it

It is Profits generated by home flipping also hit a 10-year high, with home flippers netting an average $55,000 per sale before renovation and transaction costs. Profits topped $100,000 in expensive markets such as New York and Los Angeles.

CJ Brasiel's insight:

It is my ancecdotal experience, our market holds about 15-20% "re-habber", "owner-builder", "flipper" of our local housing inventory.  Buyers pay a premium for the convenience of not having to manage a remodel themselves. 

 

Too much HGTV and not enough number crunching can get many into trouble.  Before your purchase one of these type of homes, call us to discuss the pluses and pitfalls we have seen.  Our experience is free for the picking.

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Note to Single-Family Rental Investors: Check These Markets - DSNews

Note to Single-Family Rental Investors: Check These Markets - DSNews | Real Estate in Silicon Valley | Scoop.it
Investors who are looking to expand their footprint in the SFR space may want to look in one of the markets that has the highest cap rate. Where are those markets located?
CJ Brasiel's insight:

Brave California Investors!


Cap Rate Defined:

"The capitalization rate, often just called the cap rate, is the ratio of Net Operating Income (NOI) to property asset value. So, for example, if a property was listed for $1,000,000 and generated an NOI of $100,000, then the cap rate would be $100,000/$1,000,000, or 10%."

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