Author Archives: jenipfeiffer

Silicon Valley’s Crazy Market – Is it Better to Rent or Buy?

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Courtesy Tony Guaraldi, VP of Mortgage Lending

Is the market too crazy?  Should 1st time home buyers “rent for a while until the market slows down” and throw in the towel for now?  Does it still make sense to pay these home prices or are they better off renting right now?

Rent or Buy in Silicon Valley?

Rent or Buy in Silicon Valley?

The answer as to whether or not they should buy a home vs. renting when you look at the numbers is resoundingly YES!!!  Let’s take a look at this example in Campbell . . .

A current listing on the MLS today is 1360 Hoffman Ln Campbell, CA  which is a 3 bed / 2 bath with 1,331 square feet for the bargain price of $949,000.  The typical first time buyer starter home is now around 1M in Campbell.  If we look at Craig’s List for a similar place to rent this morning you can find 1638 Ensenada Dr, Campbell which is also a 3 bed / 2 bath house that is 1,284 square feet that is listed for rent at 3,600 per month. Continue reading →

Silicon Valley homes replacing lawns with California Native Succulents

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Yesterday, 03.24.2015, San Jose Mercury News writer Eric Kurhi reported that the Santa Clara Valley Water District is proposing reducing water use by 30 percent and limited watering of lawns to twice a week.

Though Gov. Jerry Brown announced new conservation rules last week to help cope with the four-year dry spell, the water district’s latest push is more of a reaction to a new analysis that showed above-average seasonal rains haven’t done much to bolster Silicon Valley’s groundwater reserves.

Courtesy Sunset Magazine - Water Wise Garden

Courtesy Sunset Magazine – Water Wise Garden

Many homeowners are coping by letting their lawns die and replacing the landscaping with succulents and water-wise California native plants. Consider lawn alternatives, such as hardy ground covers, decks, patios, containers, ornamental grasses or cut-flower gardens. Continue reading →

PAINT is the # 1 Best RETURN on Investment to Prepare your Home FOR SALE in Silicon Valley

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The Number #1 return on your investment, today, is painting your home prior to marketing it For Sale in Silicon Valley. Yellow accent against grey is “in.”

The 50’s design schemes were gold and green. Today, the Buyers actively out canvasing for homes love freshly painted rooms, however, choose your hues wisely because the “right” color can make all the difference. Today’s neutrals are in the grey shades, which enhance blue, yellow, black, charcoal, white, pink, pumpkin, orange furniture and accessories.

One of my favorite pastimes is visiting New Home developments to observe new design trends and color schemes. We are seeing less and less of “beige” and “tan” interior paint tones, and more “grey” tones that reflect soft mauve and grey-purple hues.

Grey is the “New Beige” If you are seeking inspiration and more ideas, please visit C.B.I.D. HOME DECOR and DESIGN for examples of great color tones and paint recommendations.

 

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Top Reasons People Want to Move

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DAILY REAL ESTATE NEWS | WEDNESDAY, FEBRUARY 25, 2015

One in three U.S. households say they plan to move in the next five years, according to a survey conducted by the Demand Institute of 10,000 households’ current living situations. And it’s the location of the home that will be driving most of those moving decisions — more so than the physical home itself.

Seventy-five percent of the households surveyed cited one or more location-related reasons for why they were moving. The top reasons were the desire for a safer neighborhood (30%); being closer to family (27%); a change of climate (26%); being closer to work (25%), and moving for a new job (23%).

Top Reasons People Want to Move_Location

Top Reasons People Want to Move_Location

More than half — 59 percent — of households say they don’t plan to go too far, with most indicating a move within 30 miles of their current home.

For those seeking a location for climate reasons, the Western and Southern U.S. continue to be the top destinations. Continue reading →

New Home Builder Sunnyvale Environmental Issues? How to research!

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We received the following question and wanted to share our response with you. The same investigative process can be adapted to other new home building projects in neighboring Bay Area Cities:

We are looking to purchase a home at the new development by Summerhill homes at Las Palmas, and came across your blog when we were searching for environmental issues in new developments in Sunnyvale. Are you aware of any environmental issues with this location and any information that we should we aware of regarding soil/water contamination at this site? There used to be an auto dealership and orchards before that on this site, so we were wondering about any possible contamination. The address is 660 W El Camino Avenue, Sunnyvale, 94087.

Soil, water and environmental issues can investigated a few ways. The first step would be to visit the City of Sunnyvale Planning Department and request to view the files for the Summerhill Las Palmas project. Ask specifically about soils, water and any other required studies that were needed for submission in order to approve this development. Continue reading →

Mountain View Increases Impact Fees

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Courtesy SILVAR

The Mountain View City Council voted to increase fees on new rental, office, high-tech, and industrial development, but made no change to fees on new ownership housing. In making its decision, the council discussed the serious lack of available ownership housing in Mountain View and the need to keep ownership an attractive option for developers. The City dedicates these fees to funding Mountain View’s affordable housing programs. Continue reading →

Leafy Mature Trees Add Premium to Real Estate Value

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Like an ocean view or a Park Avenue address, majestic old-growth trees have become invaluable commodities in luxury real estate. Inspired by their sculptural beauty,

Leafy Mature Trees add Premium Value to Real Estate

Leafy Mature Trees add Premium Value to Real Estate

architects are designing or remodeling entire homes around them. High-end developers—once known for stripping tracts of land to the dirt and planting saplings after construction—are now calling off the bulldozers.

“You can’t go out and buy a 50- or 75-year-old oak tree,” said Jack Perkins, vice president of Elm Street Development, a residential developer in Washington, D.C. Elm Street bought an 8½-acre estate near Georgetown to build 1801 Foxhall, a community of 27 multimillion-dollar homes. Before breaking ground on the project, the developer dispatched an arborist to catalog and evaluate every mature spruce, sycamore and poplar tree.

CLICK HERE or http://bit.ly/leafyRE for the article by AMY GAMERMAN Wall Street Journal

Corporate Buses commute dramatically change Silicon Valley Housing – Rental and Resale

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Fleets of Corporate Buses that dot clogged highways have become the concrete symbol of the dramatic expansion in the Bay Area sending rents and homes prices skyrocketing. The gentrification of neighborhoods have dramatically changed Silicon Valley real estate and rents are up as much as 43 percent within a few blocks of company transit to stops in San Francisco, according to one measure.

Google's Fleet of Commute Buses

Mountain View Google’s Fleet of Commute Buses

As Silicon Valley once spanned the short stretch from Palo Alto to  San Jose, the boundaries have expanded marketing prime real estate  as – “Walk to your private bus stop.”

“Transportation is the new status symbol” – the hulking luxury buses complete with Wi-Fi and electricity outlets “signal that you have a job and that you have one with a firm that is forward-thinking and enlightened.” “You live where you want to live, we’ll get you to work,” stated Kevin Mathy, Google’s transportation manager, describing the Internet search giant philosophy. That simple goal has become an economic force.

CLICK HERE for an excellent article by Michelle Quinn, San Jose Mercury News.

N.Y. investors snap up San Francisco’s sprawling Parkmerced complex

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Courtesy Marlize van Romburgh

N.Y. investors snap up San Francisco’s sprawling Parkmerced complex 152-acres. Plans for redeveloping to 8,900 units.

A group of New York investors has purchased a majority stake in Parkmerced, the sprawling housing complex on San Francisco’s West Side that is slated for a multibillion-dollar revitalization, in a deal that values the property at more than $1.3 billion, the Wall Street Journal reported.

Park Merced Completion

Park Merced Completion

The property currently has 3,221 units. Plans call for redeveloping it into 8,900 units, with a groundbreaking slated for 2015 or 2016. Parkmerced is located in one of the city’s less-dense neighborhoods, an appealing fact for developers as rents and demand soar.

CLICK HERE for the full article.

200,000 housing units in Bay Area pipeline. Is it enough to move the needle?

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Courtesy Emily Fancher

There are 200,000 housing units in the planning pipeline or under construction throughout the Bay Area and approximately 43 percent of those are rental units.

Housing units in Bay Area pipeline

Housing units in Bay Area pipeline

The housing pipeline number, which was reported by a Bay Area real estate consultancy, includes market-rate and affordable projects in San Francisco, the East Bay, Peninsula and Silicon Valley down through San Jose.

CLICK HERE for the full San Francisco Business Times article.