Wednesday, February 3, 2016

Silicon Valley January 2016 Market Update

We hope the new year is starting out well with all of your new goals and endeavors!  We are excited to have just celebrated our 13 year anniversary in the business and thank you for trusting us to fullfill the real estate needs of your friends and family!
January Market Update
In our last update the market cooled down in the fall and into the holiday months.  As the new year kicked off, we have had an uncharacteristically low amount of listings on the market.  We have returned to multiple offer situations.  Examples just in the last week we have run into are 31 offers in Milpitas, 5 offers in Burlingame, 3 Offers in Cupertino and 12 offers in West San Jose.  If you are a Seller it is highly advised that you sell your home as soon as possible, as there are very few homes on the market resulting in less competition.  Contact us for a custom evaluation.  Many of our peers have inventory coming on the market and there maybe an influx of homes coming shortly.  If you are a Buyer be ready to compete for houses or wait for more inventory to come onto the market.
Why the Stock Market Will Hurt Silicon Valley Real Estate 
The stock market continues to fluctuate day by day with an overall trend pointing downward.  Led by the China stock market and falling oil prices, there are major concerns that are dragging down equity markets.  We believe that this will ultimately have a direct effect on home prices in the coming years.  In 2015 with foreign cash inflows limited, Bay Area Technology employees were the key drivers of home purchases with their restricted stocks and stock options.  Decreases in the value of the stock market will directly impact the downpayments of Silicon Valley Buyers, reducing buying power and loan affordability.  Also IPO’s may also be delayed if market conditions are not favorable as well.  This is a dynamic to monitor in the longer term.

Join the conversation on Linkedin

New Listing 3164 Kenland Drive in San Jose!
We are pleased to announce our new listing in San Jose!  Abundantly Bright Ground Floor Corner End Unit in South San Jose. Property boasts Hardwood Floors, Two Toned Paint, Recessed Lighting and Crown Molding throughout the home. Granite Countertops, Oversized Tiled Floors in Kitchen and Bathrooms. Patterned tile design in the showers. Convenient In-unit Laundry and 2-car Garage Enclosed Garage. Enjoy the Front Patio with a View of the Greenbelt. Walkable to Caltrain, Drive-in Movie Theatre and Local Schools. HOA fee of $290 includes Community Pool, Water, Cable, Roof, Exterior, Landscaping and More!

Pre-Market Listings

As part of the Alan Wang Realty Group network you have exclusive insider information on upcoming listings in red-hot neighborhoods.  If you or someone you know would like an off market opportunity to avoid competition let us know!  These listings will hit the market but have unique situations that could be a win/win for everyone.  More details on the listings below.

Make Me Move!
  • Cupertino Single Family Home – Excellent schools! Sedgwick Elementary, Hyde Middle and Cupertino High.  5 Bedrooms, 4 Bathrooms, 4,100 square feet in the process of expanding to 4,725 square feet.  Built in 2002, Asking price is $3.6M Seller says to make them move! 
  • Mountain View Single Family Home Built in 2012 – 3 Bedrooms and a Den, 3.5 Bathrooms, 1,568 Square Feet.  Asking price is $1,850,000, Seller would like you to make them move!
Upcoming Listings
  • Highly coveted Varsity Park home in Mountain View with Los Altos Schools!  In a prime location with a close commute to Linkedin and Google, quickly access Downtown Mountain View, walkable to Varsity Park excellent schools Springer, Blach, Mountain View/Los Altos High Schools.  Seller’s are looking for flexibility on the close date as they need to find another property in the same neighborhood, lots of potential
  • Executive San Jose Almaden property 4 Bedrooms and a Bonus Room, over 3,300 square feet of living space on a large 8,000 square foot lot, with a 3 car garage, excellent schools in a great neighborhood.  Seller’s looking for a flexible Buyer who can provide a rent back 
  • Convenient Sunnyvale Condominium located in close proximity to Technology giants such as Apple, Linkedin and Google.  Quick access to highways and walkable to local park.  Attends Homestead High School.  Seller currently has a tenant in the property until March.  Contact us if you are interested in this opportunity  
  • Large End Unit Townhome at Creekside Village in Morgan Hill, oversized backyard, multiple amenities such as a clubhouse, pool, spa, sauna, exercise room, tennis courts, and children’s playground