Ticks are where we live and are not going to go away but we can be prepared. Regards, Nino http://online.wsj.com/article/SB10001424052702303404704577305630267988716.html
Snow Ice and tomorrow back to Real Estate graphs and charts and realty! Regards, Nino Winter didn’t come until nearly spring this year, but plenty of snow has been falling in the Bay Area. Snow ice, that is. The cold and creamy Taiwanese dessert,…
Rainy Cali day and thoughts turn to warmer days and wineries, give this a read…. Regards, Nino Contrary to first architectural impression, not every Napa winery is either a stylized barn too good to be true or an exercise in Mediterranean make-believe. There’s austerity…
Dear Friends, In case you were not aware or missed it, Dunbarton Bridge will be closed this Memorial Day. For more info pls see: http://m.sfgate.com/sfchron/db_106666/contentdetail.htm?contentguid=DezZpvRr Regards, Nino
A little more about Real Estate sign of the time…. Nino Mary Ann Azevedo Reporter – Silicon Valley / San Jose Business Journal One Silicon Valley executive is willing to trade his 10,000-square-foot home in Los Gatos for a stake in Facebook Inc. Yes,…
Silicon Valley – Lots of competition for well-priced homes in popular areas. The market is picking up, especially under $2 million. In Los Altos, more buyers are getting ready to move, trying to beat the Facebook crowd. Speaking of FB, see my next Blog)…
Thought this was interesting article to pass along to you!
Real-estate agent Ken DeLeon said he plans to market to Facebook employees with ads on the Web site.
“I’m kind of worried — a thousand millionaires are going to be buying houses!” Connie Cao said as she and her family toured a home in a good school district here.
Her husband, Jared Oberhaus, was more optimistic. “Maybe sellers are sitting on their houses now, waiting for Facebook, and they’ll all come on the market at the same time,” he said.
It will be some time before the first Facebook shares are sold to the public, and even longer before Facebook’s employees are able to turn their paper wealth into cash and officially take their places as the newest members of the 1 percent. But the mere anticipation of the event may pour a little kerosene onto what is already a fairly hot local real estate market.
When Ken DeLeon, a Silicon Valley real estate agent, recently sold an 8,000-square-foot house to a Facebook employee, he said, the movers showed up at the client’s old 1,000-square-foot home and asked, “Did you win the lottery?”
Silicon Valley has been good to Mr. DeLeon, a former lawyer, who said he sold $275 million worth of homes last year, and who is finishing up a memoir about overcoming illness, injury and loss that he calls “Why Do Bad Things Happen to Sexy People?”
Even after some of the air went out of the housing bubble in the Bay Area in recent years, prices in the most desirable parts of San Francisco and Silicon Valley stayed buoyant enough to remain out of reach for most people. A report on 2011 housing prices by Coldwell Banker, the real estate company, found that 8 of the nation’s 20 most expensive markets were in Silicon Valley or the Bay Area. Mr. DeLeon said Palo Alto, with its limited supply, had remained remarkably strong — and could hit new peaks this year.
In recent weeks, he said, there have been signs that the market has been heating up more: 10 homes in Palo Alto sold for more than their asking prices last month, some by large amounts. Now, with the long-expected Facebook public offering a step closer to reality, Mr. DeLeon said he expected to see several things happen: some sellers may keep their homes off the market until they judge the time is right, some speculators may snap up old houses to tear down and rebuild, and some buyers may feel pressure to make offers before the deluge hits.
A steady stream of would-be buyers walked through the open house Mr. DeLeon held here on Sunday — a 2,325-square-foot home with a small backyard and an asking price of nearly $1.8 million. They checked out the sunken Japanese-style dining room and the heated concrete floors with leaf inlays. Many got lattes from the barista stationed in the backyard.
Mr. DeLeon said he already had plans to market to Facebook employees. One strategy: he intends to buy ads on Facebook. “It’s amazing how you can target them,” he said.
One More Item of Interest
One last item of interest: Remember just a year and a half ago when consumption and spending seemed to be at an all-time low? There were articles appearing about a possible trend in Renting versus Buying. Well just two weeks ago, The San Francisco Business Times took a poll, asking readers if “renting is the new American Dream.” Despite the challenging housing market in recent years, homeownership still won by a wide margin. Some things never change!