Wednesday, March 8, 2017

8 facts about Mountain View, Google's hometown

Mountain View is the hometown of Google.  Have you ever been curious about the town that hosts Google?

Here are 8 facts about Mountain View that you've always been curious about, but never asked - ok, may be you checked before... ;-)

 In 2016:

  • 573 homes sold - houses, townhouses and condominiums,
  • Mountain View’s average home sales price is:  $ 1.384 million, roughly 6% over the asking price, and 4.3% over the average sales price of 2015,
  • The average time for properties to sell was: 19 days
  • Out of those 573 homes, 42% were single family residences.  The others were condominiums or townhouses,
  • Overwhelmingly, properties sold in Mountain View were 3 bedroom homes (41%).  Then in order came the 2 bedrooms (29%) and the 4 bedrooms (18%).
  • Nearly half of the homes were between 40 and 70 years old (45%).   (13 were over 80 years old, 37 were new or 1 yr old),
  • The average size of all these sold Mountain View homes is 1493 sq.ft.
  • Half of all the households of Mountain View made over $103k/year and half made under that.

Curious about more info on Google's town?  Check out my full neighborhood report.
Curious about your town, in the Silicon Valley? curious about the value of your home?  Let me know, I'll do the study.

Thanks for reading!
Francis

Trends: Local prices and graphs.
A worthy local non-profit to remember: Community Services Agency in Mountain View
Card Drawing by Francis

Tuesday, February 21, 2017

Silicon Valley market update - California/US Update

Here are some news from the trenches...  concrete information about what is happening in our local area of the Silicon Valley - Plus, for some perspective, some information about the hottest markets in the US. (which include San Francisco and San Jose in the first two...).

Silicon Valley – More listings are emerging in the region, but Santa Clara County is still facing a shortage of available homes and strong buyer demand, which in some cases is leading to bidding wars. Open houses drew “hundreds of visitors” in the last two weeks, reports the Cupertino office manager. All offers ratified over the past two weeks have been multiple offers and all deals have contingencies in place, according to the San Jose Almaden office manager. Prices were up in several communities in January compared to the same month in 2016, he noted. Almaden’s average sales price was $1,329,000 in January, which was up 12 percent from January 2016 and down 3 percent from December.  Blossom Valley’s average sales price followed a similar trend. The average sales price in that community was $708,000 in January, which is up 10.5 percent from January 2016 and down 9 percent from the prior month.  In contrast, Cambrian’s average sales price declined 10.5 percent from a year ago to $916,000 and was down 6 percent from December.  Santa Teresa’s average sales price rose 11 percent year-over-year to $759,000 in January and was also 2 percent higher than the average sales price recorded in December. Most homes are going into contract after just one weekend on the market and in some areas homes are selling well over 10 percent of asking list price, says the San Jose Willow Glen office manager. Despite the strong demand and brisk activity, “Sellers still need to be careful not to overprice as we see homes that are priced above market sit idle as more competitively priced homes are seeing all the action,” explained the San Jose Main office manager.


For the hottest real estate markets in the US (many of them in California), please follow this Coldwell Banker article.

Thank you for reading!
Francis

Silicon Valley real estate specialist
Detailed, local trends etc...
Current mortgage rates
A place worth noting: Our Brother's Home in MountainView

Saturday, January 28, 2017

Where can you find that home style?

Where can you find that style?

Great article I found recently about the various building styles in the US, and in which area/state you are more likely to find them. 
The following map speaks quite well about the locations and the styles, but I find the article itself most interesting to read as it goes into the reasons why a style is more prevalent in a given state, and the usual value of the houses.


It comes to no surprise that the Mediterranean style is the most expensive, - it is often the case here too in the Silicon Valley, although I would add to this article that the “contemporary” home and the “modern” home are likely to be the most expensive where we are, as they are often associated with “new”, "recently build" and “high tech” or “smart home”.  This includes energy efficient.  Only the Eichlers might fit in that category of “contemporary” while not being necessarily new.

From an article in Realtor.com author by YuqingPan.

Thank you, as always, for reading, and let me know if you are thinking of buying or selling in 2017! ;-)
Francis


Worthwhile non-profit Agency:  CSA in Mountain View




Thursday, January 19, 2017

Santa Clara County: Price evolution.

'tis the time of year: how did sales prices fare in the County of Santa Clara (Silicon Valley) for the past 2 years?  This blog looks at the price of houses only: Single Family Residences.

Looking at the graph below, one can see the curves of median prices and average prices, month by month.  They are similar, but not equal though:
- over the period of the last two years, the median price went up 18%, from a median of $813k in Jan. 2015 to a median of $963k in Dec. of 2016.
- this is a much higher appreciation than the average price, which went up only 6% from $1.13 million in Jan. 2015 to $1.2 million the month of Dec. 2016.

As a reminder, this median price means that half of all buyers bought a house over $963k, and half bought a house under that price.





Something apparent in this kind of graph (which I publish regularly over the years) is the evolution over the course of the year: prices go up as a whole in general during the first 6 months of the year, and have a tendency to go down from there until the end of the year - with the exception of Sept. and October, when there is a regain in activity.

This is difficult to interpret completely: it does not mean necessarily that the value of a specific house will go down at that time, nor that it is not a good time to sell in November or December.  What it does mean instead is that statistically, more houses of a lower value sell during those periods, and this could be because of many reasons.
One of them, for instance, could be that people in a higher price range can wait for a "better" time to sell: the traditionally "active" real estate season of January to June.  It could be that more people "have" to sell at the end of the year;  more pressure means less room for negotiation.
What is also true though is that a beautiful remodeled home in a desirable neighborhood will probably not loose any value even at the end of the year, at least in our area of the US.

Finally, as a reminder that we always have to take graphs and statistics with a grain of salt, the same figures translate into the following:

Average prices for 2015:  $1.246 million
                         for 2016:  $1.292 million.  This is an increase of 3.7%

Median price for 2015:  $950k
                      for 2016: $1.02 million.  This is an increase of 7.4%

This is a better representation of the market as we follow the market over the years:  from year to year, instead of from a given month to another given month.

To make sense of the evolution of prices in your own local area, or to price your home, do contact me.
Thank you for reading,
Francis


PS: Detailed info per County always available on my web site at:  www.frolland.com under the tab: "Local Info and Stats".

Santa Clara County 2016 yearly report.
San Mateo County 2016 yearly report.