Tag Archives: Bay Area Housing

Realtor.com reports SAN JOSE Ranks #1 where Home Prices have fallen most

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Realtor.com reports that SAN JOSE, CA ranks #1 where Home Prices have fallen the most, in their findings, dated May 20, 2019. Most recently, the real estate market has experenced a shortage of available homes for sale to balance the demand of Buyer’s needs. Combined with super low interest rates, the results were that the Bay Area housing sales prices escalated at record-breaking speed from years 2011-2018. This year has delivered a “cooling-off” phase, in some areas, such as San Jose, CA as prices have softened and inventory has increased.

Houses priced right are still selling quickly, and some “over-asking.” The market is relatively balanced, and favorable for both Buyers and Sellers. The mortgage interest rates are low and there are more homes to choose from.

Curious how other cities were rated? Read the Realtor.com report HERE: https://www.realtor.com/news/trends/2019-where-home-prices-falling-the-most/ “Falling Stars: You Won’t Believe the 10 Cities Where Home Prices Are Down the Most” for more information.

Jeni Pfeiffer, Broker Associate Realtor

408-813-4256

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.