How long to own a home?

Most people don't buy or sell a home very often. 
 

In fact, a recent National Association of Realtors® study found the median length of time that people who sold a home in 2012 had owned that residence was nine years, two years longer than the proverbial seven-year time frame. 

What's more, recent buyers had even longer time horizons in mind: first-time purchasers expected to own their newly bought home a median of 10 years. For repeat buyers, the median was 15 years. 
 

Sure, many people move more frequently, often due to the birth of a child, marriage or divorce, job loss or relocation, retirement, someone passing away, or other major life event. Yet there's still no doubt that a move is pretty hard on anyone… and avoided if possible.

How long have you owned your home in average?

Thanks for reading,
Francis

Silicon Valley real estate specialist
Detailed, local trends etc...
Current mortgage rates

Grand Opening at the San Antonio shopping center

It has been a while since I wrote a note about the San Antonio shopping center, and the transformations happening there. 
Since then a new Safeway opened, apartment buildings opened, a Starbucks and a few other well known franchises.  Tomorrow Saturday there is an event worth mentioning here for those who live close by, and especially dog lovers:
the Grand Opening of the Village Green Park and Dog Park.  Tomorrow Saturday October 19th, 10:30 to 3 pm.

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

Housing shortage in the Bay Area .. Facebook takes note.

Facebook to Build Apartments for Employees

A mockup of a new housing complex in Menlo Park for Facebook employees has been released. The project will cost $120 million and will create 394 units. The entire complex will be 630,000 square-feet.

Along with apartments, the area will have shops, a sports bar, a doggy day care, as well as an outdoor community pool. Designed primarily to house Facebook employees, the complex will be within walking distance or a five-minute bike ride from the corporate campus.

The majority of units will only be available to Facebook employees and sold at market rate. Fifteen units will be open to non-Facebook employees who are low-income. Construction begins this month and is expected to be completed in 24 months.

Source: Silicon Valley Association of Realtors.

Thanks 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

Micro apartments...

Micro apartments. In some major metropolitan areas, people are living large in smaller spaces.

So-called micro apartments—which are often less than 200 square feet—are becoming popular in San Francisco, New York, Seattle, Boston, Providence, R.I., and Portland, Ore., reports CNN Money (by Les Christie).
But it’s not only those just-out-of-college grads flocking to these tiny units. In some “micro buildings,” the average tenant is 33 years old and makes less than $35,000 a year, according to Reuters. 

 

On a separate (real estate) note, not quite the same size, you can have a look at what’s inside the ultimateman cave … (by Anastasia Anashkina @CNNMoney)  - Ok, this is not your typical home. But I know many who are going to dream.

Thanks for dreaming! - huh... reading!

Francis

Silicon Valley real estate specialist
Detailed, local trends etc...
Current mortgage rates

non-profit organization worth noting: Partners for New Generations

California: fastest rising list prices

As of July 2013...
This is not new information, but it is not going to be much different today, and it gives a good perspective on the market, as we currently witness a slowing down, attributed to much higher prices and higher interest rates.  The market locally is still quite good by all measures...

 Francis

Silicon Valley real estate specialist
Detailed, local trends etc...
Current mortgage rates