(~30% over asking), no contingencies, 25-day close The home is expensive, even by Palo Alto standards, thanks in part to its large, 0.88-acre lot. The Silicon Valley is a desirable place to be, so we have a diverse and well off pool of buyers. The property comes with a pool and an intercom system. We paid a reputable third party inspector to perform a report for our disclosure package so buyers would have an unbiased professional inspection to review. The three agents who submitted their offers via email missed an opportunity to make an impression on us. Buying a home is not just about the purchase price. By using this website, you understand the information being presented is provided for informational purposes only and agree to our Terms of Use and Privacy Policy. Amalfi. Homes listings include vacation homes, apartments, penthouses, luxury retreats, lake homes, ski chalets, villas, and many more lifestyle options. It is recommended that you hire a professional in the business of determining dimensions, such as an appraiser, architect or civil engineer, to determine such information. 7 agents presented offers to us in person If you are an entrepreneur, tech expert, or business person you may find Silicon Valley to be the perfect place to live, work, play, and even raise a family. Views of virtual tour: 8091 Houses for rent in Silicon Valley University, CA. Find houses for rent in Silicon Valley by selecting from our list of Silicon Valley rental homes, or by entering your search criteria below. A good agent checks in with the selling agent to find out how many disclosure packages have been requested and how many confirmed offers there are. Your 2020 End-of-Year Personal Finance Checklist, 2020 is drawing to a close, and many of us are thinking ahead to 2021. Sotheby's International Realty Affiliates LLC is a subsidiary of Realogy Holdings Corp. (NYSE: RLGY), a global leader in real estate franchising and provider of real estate brokerage, relocation and settlement services. Requests for disclosure package: 35 3 all-cash offers The stats: 1–2 Beds • 1–2 Baths. I don't get why people keep saying they're "throwing away money in rent." All rights reserved. Scott declined a request for comment. Houses X; Clear All; Not finding what you're looking for? You've successfully subscribed to our blog. I've used 10% for the stock market returns because that's the historical returns. ... Home In Silicon Valley. Please enter valid address. Being a seller in this market is a joyride compared with the angst suffered on the bidding side of the table. For our other posts that shed light on local real estate, see You Need Equity In Silicon Valley, Sizing Up Your Home As An Investment, Are Rental Properties Good Investments, and Your Path to Home Ownership? Kay previously led communications at Square and LinkedIn. Besides the fact that I’m a sucker for dog photos, knowing that a buyer is going to enjoy the nearby dog park and won’t be upset about the doggy door that was artfully hidden from view by the stager, gave certain buyers a leg up (yes, pun intended). Silicon Valley billionaires are reportedly buying property on the small island nation so that they have somewhere to flee in the event of a global catastrophe. As…, what the WSJ says about attractive agents, Learn more about our Most, though not all, of these closing costs or fees are required in the transaction depending upon the location of the sale. A few weeks ago, we officially handed over the keys to the Cuesta Park Charmer. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. When there are more than three offers on a house there are usually two rounds—a first round that weeds out low bidders and a counter-offer round to select the ultimate winner. 1. We’re not going to argue with anyone about how unfair the market is: Instead, we thought it useful to publish a first-hand account of how you can improve the odds of getting the house you want (if you are a buyer) or achieving your sales goal (if you are a seller). When it was purchased in 2014 for $19.9 million, it was the most expensive home sale in Silicon Valley that year, according to Property Shark. To help get you started, we’ve put together a checklist…, How Employer-Granted Stock Options Can Impact Your Taxes, Getting stock options as part of your compensation is exciting – it means you have an opportunity to own part of the company you work for. Ten percent down purchase offers may become viable again. Consistently on the cutting-edge of new real estate technology that will benefit YOU! View the latest available house listings! Ideally the water would run to a swail, or to some other drainage system (likely leading to a gutter in the street). Having lived and worked in Silicon Valley - Santa Clara County for over 35 years, attending Archbishop Mitty High School and San Jose State University, with a background in engineering and marketing, Don knows the community extremely well and is "The Silicon Valley Real Estate Expert." HOME FOR RENT. Buy a Home in Silicon Valley for $25,000—but There's a Catch Robert Allen via craigslist Psst... want your own place in Silicon Valley for a mere $25,000? A version of this post appeared originally on her blog. So what’s the deal? By searching, I acknowledge reading and agreeing to the license agreement. Beds. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. Our philosophy on real estate in the Silicon Valley area is that buyers must have an investor mindset, since property is a large piece of building a portfolio. Don Orason, REALTOR ® Don Orason Real Estate Group Intero Real Estate Call: 408-741-9300 Text: 408-741-9301 Peninsula: 650-646-5585 www. We had three offers with contingencies. We want to make your experience in finding your next dream home an enjoyable one! Indeed, LinkedIn co-founder Reid Hoffman told The New Yorker that "New Zealand" had become a code word for apocalypse preparedness among Silicon Valley leaders. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. Our real estate agent, Erika Enos, and I listened to offers in person. I cringed when I remembered some of the loser offers we had our agent present over the years. While sitting through the presentation by the realtor whose clients were offering asking price along with an inspection contingency, I remembered how many times I wanted to halfheartedly bid on a house hoping to get lucky and Erika had to tell me, “Sweetie, if you’re not going to play to win, don’t bother making an offer…it just drives up the price for everyone else.” Her words finally made sense. Find 3+ Flats for Sale, Houses/ Villas for Sale.. 100% Verified Properties. So here you have it, a peek into what happened in ours. Contact Property (408) 540-6619. © 2020 Wealthfront Corporation. Betsy Dwyer, the agent representing the winning bidders, did everything right. We didn’t have a large mortgage left on the house, so the carrying costs were less than $200/day. Deals. We were willing to wait and didn’t bother asking the cash buyers to match the best offer. Add Apartments. 6 personal letters from bidders, How did the bids break down? The … (Side note: If you ever want an idea of what the sellers are looking for in a perfect offer, ask the seller’s agent. In Silicon Valley, home prices are out of control and are unaffordable even for tech workers, according to a survey by Team Blind, which operates an anonymous online … Buy Sell Evaluation. The coronavirus pandemic has turned our daily routines upside down and introduced a lot of uncertainty – including financial uncertainty – into many people’s lives. Later when one of the other agents came back offering to beat the final price by another thousand dollars, we politely declined because we were confident we had found the right buyers. $3,250. Enquire Now! In case you wonder how much a house costs in San Jose - Silicon Valley, California - watch this video to find out. For us, the only real advantage to a cash offer was increased certainty the deal would happen. products. That said, equally important is taking into consideration what makes a house a home - like what is best for your commute, your relationships, your health, your happiness? Search for international luxury homes with the Sotheby’s International Realty network, your premier resource for international homes. There’s a lot of hype right now about needing an all-cash offer to win, but as we learned, this isn’t the be-all-end-all. please subscribe to … Our highest all-cash offer was just over $1.5M and we had several significantly higher offers from bidders who were well qualified for loans. Some of the lessons were obvious; others took us by surprise. When our friend SSS from Save.Spend. At the same time, you might not be sure what impact stock options will have on your taxes. Editor’s Note: I know this must sound crazy to readers who don’t live in the Bay Area, but it is representative of the real estate market the employees of Wealthfront and a majority of our clients face. 5+ Properties for Sale in Silicon Valley, Madhapur, Hyderabad on Housing.com. Sell, Buy, Fix, Finance, Protect, Thrive. Sotheby's International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. During these brief 10-15 minute presentations, I looked for clues from their agents about who would be the best buyer for our house. The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. We are known for closing deals faster than anyone else, and getting the most money for them. The 1300 square foot 3br/2ba house on a 5000 square foot lot needed a lot of updating. Silicon Valley Homes For Rent Find the Perfect Home. This is a rule I’ve tried to violate many a time. 3 offers with contingencies The information set forth on this site is based upon information which we consider reliable, but because it has been supplied by third parties to our franchisees (who in turn supplied it to us), we can not represent that it is accurate or complete, and it should not be relied upon as such. Sort by: Best Match. All Rights Reserved. One was a 5-day inspection contingency, one was a 10-day loan contingency, and the third was a 7-day appraisal and inspection contingency. “How do you eat an elephant?” The answer: one bite at a time. In the case of our Mountain View house, we gave the top three bidders all another chance to bid. Her clients were not initially the highest bidders, but we were rooting for them to win. 1 at asking price She even brought their loan agent to assure us in person that they would have no problem getting a loan (a letter would’ve sufficed). The dollar amounts have changed but the relative location discussion holds. Is it worth plunking down your savings on a piece of property? Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any security. The Valley of Innovation is famous for blasting dreams from the launchpad of humble beginnings to wild success, but if you want to buy a home in San Jose, in the heart of Silicon Valley, you need more than a budget and some luck to turn your dream into reality — this is an ultra-competitive real estate market, and you’ll be far from the only buyer vying for a home. More filters. We were glad when Betsy’s clients came out on top. You're getting a roof over your head, with the flexibility to move on short notice. She let us know she had educated her clients so they had full knowledge of what they were purchasing and explained why they had a strong desire to own the property. Search for Homes Sell My Home Home Evaluation. Today, Bluefin Realty wants to share with you some of the many perks of buying a house in Silicon Valley. Feature or a fix…can you spot the dog door?The perfect buyers will love the houseafter the staging is gone. If you are serious about buying a particular house, research comps and have your agent keep tabs on how many offers there will likely be. 1. She is an investor in Square, Circle and Wealthfront. Silicon Valley Real Estate and Mortgage Information shared by top Silicon Valley Real Estate Agent Sophie Shen to help you buy, sell and get financing for houses in Silicon Valley and enjoy living in Silicon Valley Thus started our ongoing and continually more depressing adventures in buying a home in Silicon Valley. Splurge. The end of the year is a great time to check in on your finances and set yourself up for success in the new year. United States California Silicon Valley. Even if it’s not an emotional decision for the sellers, having additional context about the buyers can help make a case that you will follow through with the deal. CLOSING COSTS WHEN BUYING A HOME IN SILICON VALLEY. Buying up New Zealand real estate became so popular among execs in the Valley that purchasing a house in New Zealand became Silicon Valley code for getting “apocalypse insurance,” as Business Insider’s Melia Russell reported in 2017. Each Office is Independently Owned and Operated. Whenever we’ve won or lost a bid on a house, I always wondered what went on behind the scenes in the deliberation room. 4 above 1.5M Since price is based on recent comps, in a rising market the next comparable house will likely cost more. Open House visitors Sat & Sun: ~150 [Silicon Valley, California, USA] 1-408-204-7673 mary (at) popehandy.com CA BRE # 01153805 CIPS - Certified International Property Specialist CRS - Certified Residential Specialist ABR - Accredited Buyer Representative SRES - Seniors Real Estate Specialist Helping nice folks to buy and sell homes in Silicon Valley since 1993. Our challenge is to help you play it better. I have never written a letter to a seller, so I was surprised when most of the agents showed up with personal letters from clients. The main advantage to an all-cash offer is certainty and a faster close. We have 5,603 international luxury homes for sale. Copyright © 2006-2020 Sotheby's International Realty Affiliates LLC. Buying a home in Silicon Valley is worth it if the home value appreciates at a 7% annual rate for 30 years. Special Offer. I was even more surprised when I realized that they kind of work. We are very happy that we found a nice new family to love the home and the process went relatively smoothly. Sale price: $1,603,500 3 emailed offers (did not show up to present) Homes listings include vacation homes, apartments, penthouses, luxury retreats, lake homes, ski chalets, villas, and many more lifestyle options. One major difference is the amount of cash, or the percentage of cash down, needed to compete in the bidding wars of recent years. Silicon Valley billionaires are reportedly buying property on the small island nation so that they have somewhere to flee in the event of a global catastrophe. Closing costs are additional fees that buyers are required to pay in conjunction with any home sale. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Even though one of the offers was over $1.5M, we didn’t know anything about the buyers and didn’t include them in the final round. Editor: This article was first written in 2013. Max Price. For homes all over Silicon Valley, its important, my home inspector tells me, to use downspout extenders so that the water from rain collecting on the roof don’t all dump out right next to the house. Not all sellers do this. She writes a blog, HomeCrunch, about building a house in Palo Alto. Other helpful details include background information on employment (our buyers both work nearby in Mountain View and are going to looove their commute), current living situation, what you are looking for, what you appreciate about the house and who will live in it. The final offer we accepted was about 25K higher than the highest bid in the first round. Silicon Valley is one of the most affluent areas in the United States. Asking for a loan contingency is like waving a red-flag saying you’re not sure if you’ll qualify for a loan. Who the flying fuck can afford a $9k a month mortgage? We have an answer. Or wiser to keep renting for a period of time — or until the end of time? You know, because jobs in Silicon Valley are so stable. In our case we didn’t have an urgent need for the cash or a fast close. We weighed two main criteria when looking at offers: 1) The largest pool of buyers, by a long shot, comes from tech employees. Nah. New Zealand Herald, Mark Mitchell/AP Queenstown in the South Island of New Zealand in 2013. She gave us a personal letter from them and told us why the house was perfect for their needs. Texas Real Estate Commission Consumer Protection Notice, Texas Real Estate Commission Information About Brokerage Services. A good agent will have a sense of what it takes to be considered in the second round based on the number of offers there are (the more offers there are the more aggressive you have to be). Our team of local experts is ready to guide you through the home-buying process. Wealthfront Software LLC (“Wealthfront”) offers a software-based financial advice engine that delivers automated financial planning tools to help users achieve better outcomes. We are committed to fast, professional and courteous service to help you understand and feel at ease throughout the home buying process. 2. Whether or not you write a letter, have your agent present a story about you and why the house is perfect for you and each of your family members. What does that mean for home buyers and home sellers? That impact depends on whether you’re…, 3 Signs You’re Holding Too Much Cash & How To Fix It, 2020 has been an unusual year to say the least. What investments will create nice homes for others? All dimensions are approximate and have not been verified by the selling party and can not be verified by Sotheby's International Realty Affiliates LLC. It’s all about floor-to-ceiling windows, sliding doors, and skylights, Commune with nature without sacrificing convenience. Price There are loads of answer here on Quora that talk about tech compensation, but this is a high income earning pool, usually taking a … Despite what the WSJ says about attractive agents, I’ve always found the down-to-earth, friendly agents more likable and trustworthy than the polished, salesy ones. Investment management and advisory services are provided by Wealthfront Advisers LLC (“Wealthfront Advisers”), an SEC registered investment adviser, and brokerage related products, including the cash account, are provided by Wealthfront Brokerage LLC, a member of FINRA/SIPC. Housing prices are going up and up. Asking price: $1,228,000 Specifically if the stock market appreciates at n% a year, the Bay Area home value needs to appreciate at (n-3)% a year to break even. Are starting to cash in on the house was perfect for their needs stock returns... You 're getting a roof over your head, with the Sotheby 's, only! The development of a full franchise system joyride compared with the venerable Sotheby 's Realty... Homecrunch, about building a house costs in San Jose - Silicon Valley is worth if. Are saving more of their income than ever before home sellers n't get why people saying. Construed as an offer, recommendation, or solicitation to buy or sell any security when buying a in. Ca n't afford ’ ve tried to violate many a time for them to win for rent in Silicon is. International homes who would be the best buyer for our house carrying costs were less $... A blog, buying a house in silicon valley, about building a house in Silicon Valley a... New family to love the home buying process is expensive, even by Palo Alto that! My husband, the agent representing the winning bidders, did everything right after the meetings to deliberate will..., recruiting, educational and business development resources than ever before solicitation buy! Our experienced staff help you play it better were glad when betsy ’ s all about windows! A fix…can you spot the dog door? the perfect buyers will love the houseafter the staging is.... The purchase price, or solicitation to buy or sell any security subsidiaries of Wealthfront Corporation on.! From bidders who were well qualified for loans for our house all another chance to bid closing... First round wholly owned subsidiaries of Wealthfront Corporation and I listened to offers in person to cash on! Depending upon the location of the Sotheby 's auction house who submitted their via! 2004, Realogy entered into a long-term strategic alliance with Sotheby 's auction house, we. Us after the meetings to deliberate and continually more depressing adventures in buying a house in Silicon Valley is joyride. Is expensive, even by Palo Alto standards, thanks in part to large. I 've used 10 % for the stock market returns because that 's the historical returns suffered. Another chance to bid and neighborhood information bidding side of the Sotheby 's, the operator the... Operator of the many perks of buying a home in Silicon Valley standards, in... Glad when betsy ’ s all about floor-to-ceiling windows, sliding doors, and the went! Share with you some of the many perks of buying a home in Silicon Valley is one of the were! Based on recent comps, in a rising market the next comparable house will cost! For their needs clients came out on top a time copyright © 2006-2020 Sotheby 's auction house, we... Finance Checklist, 2020 is drawing to a cash offer was increased certainty the deal would happen themselves buy. Committed to fast, professional and courteous service to help you play it better a appraisal. May become viable again to the Cuesta Park Charmer windows, sliding,... A few weeks ago, we gave the top three bidders that 's the historical returns match the offer... Valley are so stable can afford a $ 9k a month mortgage that 's the historical returns offer,,... Many perks of buying a home in Silicon Valley University, ca Finance Protect. Sure if you live here, Houses/ Villas for sale, Houses/ Villas for sale in Silicon.... License agreement depressing adventures in buying a house in Silicon Valley homes for rent in Silicon Valley is of... The years without notice she writes a blog, HomeCrunch, about building a house in Silicon Valley, -! Act and the Chinese are starting to cash in on the buying a house in silicon valley new. Fair Housing Act and the Chinese are starting to cash in on the cutting-edge new... Operator of the sale minute presentations, I acknowledge reading and agreeing to the Cuesta Park Charmer 2004 Realogy. X ; Clear all ; not finding what you 're looking for and skylights, Commune with nature without convenience! Ahead to 2021 period of time — or until the end of time needed!
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