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Why millennials are moving to Silicon Valley

Software developer

Software developer

Silicon Valley has revolutionized the world in more ways than one. Today, it is one of the prime destinations for millennials hoping to make a name for themselves.

The area offers ample opportunity for career growth, great weather year-round, and so much more.

The tech boom

When history books years in the future are written, this age will closely resemble the industrial boom of the early twentieth century. The difference is that our “revolution” will be a technological one.

Millennials who have the skills or ideas to compete in this crowded market know that they need to be in the middle of the action. The Bay Area offers multiple startups for different skills levels. Newcomers and experienced professionals alike are welcome and well rewarded.

West Coast vibes

It is no secret that the top schools on the East Coast tend to sit in uncomfortably volatile areas in terms of weather. New England has rough winters, for example, and many students dream of never dealing with inches of snow again.

There is a certain allure to the West Coast that has always seen young graduates gravitating to it. Nearly 25% of students from the Top 25 universities on the East Coast have made the move to the West Coast within five years.

Trend

Silicon Valley remains the top choice of recent graduates. Yes, there are plenty of other tech hubs to choose from, but Silicon Valley offers the established name.

Recent graduates aspiring to be tech gurus will jump at the chance at being involved in the industry in this particular area. They will willingly share a smaller home with other tech workers to achieve their dreams. The trend is very strong at the moment and it does not show signs of slowing down anytime soon.

Best companies to work for

Some of Fortune’s 70 Best Companies to Work For in the Bay Area are located in Silicon Valley. They include the following top tech firms:

Large companies

  • Cisco
  • Adobe
  • Intuit Inc.
  • NVIDIA
  • Arista Networks
  • HP

Small and medium companies

  • CCumulus Networks
  • Chegg
  • Sage Intact
  • Zuora
  • Coupa Software

At Cisco, employees can build their own careers with the flexibility they need – like choosing their own schedule or working from home. At NVIDIA, the culture encourages employees to think differently and make them feel like they’re part of the company’s success.

In a smaller company like Cumulus Networks, employees appreciate the leadership’s openness about its operating details.

Numbers don’t lie

In spite of higher home prices and tough commutes, Silicon Valley has a lot of great things going for it. The 2019 Silicon Valley Index shows that the jobless rate was at an 18-year low at 2.15%. The national unemployment average as of February 2019 was 3.8%. Last year, Silicon Valley added 35,000 jobs, which fueled a rise in household incomes.

Shaping the future

It all ultimately comes down to ambition. The youth of today is keen on shaping the future and acquiring the skills necessary to do so. All they need is to be in the right place at the right time.

Silicon Valley is the place for the right professional it and the place where they can build their future.

To explore your housing options in Silicon Valley, get in touch with us, David Chung and Sunny Kim, today. Call 650.489.6251 or email us at info@david&sunny.com.

How to sell your home for a higher price

Man with dog

Man with dog

Flipping your home for profit is an art. To learn it, you have to pay attention. Here is an overview of how you can sell your home for a higher price.

Be honest with yourself

First and foremost, it is essential to be as objective as you can about pricing your home. It is the single most important thing you have to do to make sure your get the best offers. If you allow your sentiments to rule, you may jack up your price to levels beyond the comparable homes in your neighborhood and risk seeing your own house remain unsold for weeks on end.

Renovate

Once you know how much you can sell the house for, you can begin thinking about renovations. According to the 2019 Cost vs. Value report of Remodeling, a publication for the construction industry, the following home renovations add the most value:

  • Replacing the garage door
  • Replacing vinyl siding with manufactured stone veneer
  • Undertaking a minor kitchen remodel
  • Adding a wooden deck
  • Replacing dilapidated siding

Investing in the above renovations will allow you to recoup costs at an average of 77% to 98% once the house is sold.

Consult a real estate agent

Work with a local real agent to help you determine the most competitive price, plan a selling strategy, prep your home, and decide on the best time to sell your home faster and to the highest bidder. Your agent will ensure that your home isn’t priced less than it is worth. Your agent will also help you handle the voluminous paperwork that’s typical of real estate transactions.

Employ value range marketing

Instead of sticking a specific price tag on a home, consider value range marketing. List a price range that’s between the ideal market price for your home and the lowest price you would accept. It allows potential sellers to negotiate toward a middle price – which could turn out to be far more than what you can realistically expect.

Offer perks

Once a buyer has narrowed down their choices to two or three homes, make sure the buyer decides in your favor. One way to do this is by offering incentives. Offer to pay for closing costs, home inspections, or repairs. You can also sweeten the deal by prepaying homeowners’ association fees, golf memberships, or internet services for a period of time.

Learn the process and adjust

Now that you have a better idea of how to sell your home for a higher price, see how it goes. If something doesn’t work, quickly make adjustments. If you have fewer inquiries than you’d like, rethink your price. If home visits don’t result in offers, find out if there’s anything wrong with the house and make fixes immediately.

If you’re selling your home in the Silicon Valley area, you need the guidance of professionals who know this complicated market by heart, and with a proven track record of success. Get in touch with us, David Chung and Sunny Kim, today. Call 650.489.6251 or email us at info@david&sunny.com.

5 of the best school districts in the Bay Area

Smart

Smart

How important is living near a good school to home buyers? Last year, a survey revealed that 78% of buyers would be willing to forego amenities like a garage, an updated kitchen, the number of bedrooms they wanted, and outdoor living space to get their children into a desirable school district.

If you’re thinking of moving to the Bay Area, here are five of the best school districts in the region. Each entry on this list has received an overall grade of A+ on Niche.com and has devoted itself to quality education for years.

  1. Palo Alto Unified School District
    Not only does the Palo Alto’s elementary schools district boast an average grade of A+, the district itself ranks Number 1 in the state of California. The math and reading proficiency tests in this school rarely average below 80%. Its ultimate goal of excellence is established and enforced by teachers whose tenure speaks volumes about their ability to stay the course.
  2. Acalanes Union High School District
    Acalanes Union is one of the many great districts in the Bay Area and ranks Number 10 among all districts in the state. Its students, which number around 5.000, boast proficiency test scores above 70%. Moreover, the school district has a teacher-to-student ratio of 1 to 21. The teachers are tops in their field, with an impressive career history and professional achievements.
  3. Pleasanton Unified School District
    Pleasanton is K-12 excellence personified. It has over 14,000 students, with a reading proficiency score of 80%. For years, Pleasanton has consistently increased its standards to rank among the Top 20 school districts in the Bay Area. None of the elementary schools within the district scored anywhere below an A.
  4. Freemont Union High School District
    Freemont Union High School District is committed to its 10,000+ students by focusing on mathematics and reading and writing skills. The school boasts 78% in math proficiency and 82% in reading proficiency. Freemont Union ranks Number 15 in the state of California. Graduates have gone on to pursue college degrees, too, so it’s a great choice if you want to give your child an edge.
  5. San Ramon Valley Unified School District
    San Ramon Valley is exactly what you would expect from a district that ranks Number 20 among the best districts in the state. If you can afford to buy a home in this area, your children will receive some of the best education in California. Reading proficiency is above 80% in this school district.

A bright future

Your children deserve a bright future. Attending a school in one of these school districts ensures they have a solid foundation for success.

To look for a home in the Bay Area that will allow your children to take advantage of its excellent schools, get in touch with us, David Chung and Sunny Kim, at 650.489.6251 or email us at info@david&sunny.com. We will be happy to show you your real estate options.

How to work for a startup even if you don’t know how to code

Busy modern office

Busy modern office

For many people, working for a startup is certainly a very exciting idea. Not only do you get an opportunity to make a lot of money, but you might become part of something that can potentially change the world.

For those who don’t consider themselves to be tech-savvy however, joining a startup might not be part of the plan. But the truth is, there are many jobs in the tech industry don’t require coding knowledge. A startup also needs people to design their product, write copy, communicate with users, create marketing strategies, and handle all sorts of non-technical tasks as well.

If you’re thinking about working for a tech startup but have zero experience on coding, here are several roles that are ideal for you:

Marketing

Startups need to attract new users and create some hype around their product, which is why many of them are looking for workers with PR or marketing experience. Keep in mind however that most startups’ budget for marketing are usually smaller compared to what established companies spend, which means you’ll need to be creative in figuring out how you can create a big impact using limited resources.

Product manager

Product managers are in charge of the product’s overall design and how it should function. This type of job typically involves creating the product’s “look and feel,” designing flowcharts (how users navigate through a website or app), collaborating with designers and engineers, and communicating with marketing on how to best present the product or highlight certain features.

Support

Getting a job as a support rep in a tech startup is an excellent way to gain knowledge on the tech industry, especially if you’re a recent graduate. A support rep communicates with users, addresses issues and concerns, explains how the product works, and so on.

Members of the support staff are often the most knowledgeable when it comes to user satisfaction, which is why they play a key role in improving the company’s product.

Business development manager

Some of the most innovative features in popular tech products are often the result of outstanding business development deals, like getting a discount on your favorite restaurant when you book an Uber, or tweeting with a specific hashtag to save money whenever you shop using your AmEx card.

A business development manager is often behind deals like these. They collaborate with other companies in order to create more buzz for products and make them even better for users.

Community manager

Depending on the startup, community managers have different tasks and responsibilities, but their primary task is to connect with end users by making them feel appreciated by the product or company. A community manager is often in charge of building the company’s online community through managing social media accounts, organizing events, creating new content, and requesting feedback from customers.

Thinking about relocating to Silicon Valley? For the best Silicon Valley homes for sale, get in touch with David and Sunny at 650-489-6251.

Soaring Silicon Valley startups to watch out for

The talent behind a growing startup

The talent behind a growing startup

While new startup ecosystems are now being established in different parts of the globe, Silicon Valley is still firmly at the top of the tech industry, continuing to attract countless entrepreneurs year in, year out. Procuring the necessary capital to run a successful startup may now be possible elsewhere, but the culture of Silicon Valley is still unmatched. It’s impossible to find a higher concentration of tech-savvy individuals who think outside of the box and work hard to push technology beyond its limits.

In this article, we’ll take a closer look at several forward-thinking Silicon Valley startups that demonstrate the type of innovation and determination Silicon Valley is known for.

Gladly

Gladly helps businesses build a better connection with their customers through an efficient and highly personalized solution. They’ve helped companies from different industries including retail, hospitality, finance, travel, and more by providing reliable customer support agents with access to all the tools and information they need to provide unparalleled support to customers.

Incubated in 2015 by Greylock Partners, Gladly has now raised more than $63 million and currently has a team of more than 50 employees.

Ripe.io

Ripe.io made a significant impact to the digital food supply industry through their innovative use of the Internet of Things and blockchain technology. With their transparent food quality network, consumers now get access to a wealth of information that tells them about their food’s quality, where it was produced, and more.

Additionally, farmers and distributors can use Ripe.io to automate internal processes and fulfill market demand for high-quality, sustainable food products.

Shippo

With Shippo,users are now able to save more time and money with shipping through the use of an automated cloud-based software. The intuitive and easy-to-use tool helps customers get information on rates, print the required labels, track their packages, and more. Companies can use Shippo’s system to provide their users with different shipping options available through e-commerce websites.

Biomarker Labs

Biomarker Labs gives users real-time, data-driven access to a wide variety of health supplements. The company analyzes a user’s health metrics, symptoms and other information in order to match them with the best beneficial nutritional supplements.

Biomarker takes advantage of the increasing number of supplement users who use smartphones and wearable technology to gather insights and create a precise database of information. With more users, they get more data on how people respond to specific supplements, which leads to better results.

Nurx

Nurx’suser-friendly app provides a better way for women to get access to birth control. Through the app, a user can request a prescription online and simply wait for it to be delivered right to their door.

Nurx’s application is currently operational in more than 15 states across the US. Through their unique birth control subscription service, the company is seeking more innovations in women’s healthcare this year.

Thinking about relocating to Silicon Valley? For the best Silicon Valley homes for sale, get in touch with David and Sunny at 650-489-6251.

Family-friendly spots in Los Altos

Latin american family at the ice cream parlor and kids enjoying their ice cream while sharing with their parents with a spoon

Latin american family at the ice cream parlor and kids enjoying their ice cream while sharing with their parents with a spoon

If you’re looking forward to enjoying some quality time with the family, Los Altos is home to an assortment of fun family-friendly activities and destinations. Located south of Palo Alto, this suburban haven is filled with a variety of attractions perfect for visitors of all ages.

If you’re searching for the best family-friendly venues in Los Altos, here are some of the top places for you to check out:

Linden Tree Books

Located in downtown Los Altos, Linden Tree Books is an independent bookseller dedicated to providing books and gifts for people of all ages. Their vast book inventory features a terrific selection of children’s titles and is complemented by a variety of educational merchandise, including puzzles, science and math games, art materials, book-related puppets and dolls, and more.

Linden Tree Books also hosts different in-store events throughout the year including craft activities, story time sessions, and author events. Get information on upcoming events at the store here.

Shoup Park

Tucked within a scenic residential neighborhood, Shoup Park is the perfect place if you’re looking to spend a relaxing day outdoors. Surrounded by soaring redwood trees, the 3.9-acre park has access to a slow-flowing creek and has different amenities including barbecue pits, picnic tables, a playground, turf areas, and public restrooms.

Shoup Park is also home of The Underground Teen Center, Garden House, and Patriot Corner Group Picnic Area, all of which are available for birthdays, family reunions, and other events.

Area 151

Area 151 boasts a dazzling variety of friendly games for children of all ages, ranging from simple but fun ball tossing games to modern arcade-style versions of popular smartphone videogames, and everything in between.

The arcade is dedicated to providing family-oriented fun – rather than focusing on traditional video arcade machines, they’ve selected games that promote teamwork and cooperation to earn tickets, which you can exchange for fun prizes.

Bumble

Bumble is an organic restaurant designed for families looking to enjoy a healthy meal made with fresh, locally sourced ingredients. For younger guests, the restaurant features an outdoor sandbox and a playroom for kids aged 1 to 10 years old.

In addition to serving delicious and healthy meals, Bumble also hosts special events like art shows, private dinner events, film showings, and playtime events at their playroom. Check out some of the events scheduled this month by heading to this page.

Hidden Villa

Encompassing over 1,600 acres of sprawling open space, Hidden Villa offers unique programs for all ages and is a fantastic destination for anyone looking for a hands-on experience on organic farming.

Nestled in the foothills of the majestic Santa Cruz mountains, this picturesque location boasts incredible amenities including an educational organic garden, pockets of shaded areas with picnic tables, kid-friendly hiking trails, accessible farm animals, and many more.

Hidden Valley’s year-round programs offer opportunities to learn more about the environment and experience all of the wonderful things the location has to offer. Take a look at a full list of their available programs here.

Discover more great family-friendly destinations in Los Altos! For Los Altos homes for sale, get in touch with David and Sunny at 650-489-6251.

Silicon Valley’s 5 Hippest Neighborhoods

Silicon Valley's 5 hippest neighborhoods

Silicon Valleys 5 hippest neighborhoods

Along the bay area of southern San Francisco lies Silicon Valley, Northern California’s high tech hub. Its location and collection of upscale neighborhoods, famous companies, trendy eateries, and historical landmarks make it one of San Francisco’s hippest places to be in. Check out five of the most exciting and dynamic neighborhoods in the area.

San Jose

San Jose is known as the capital of Silicon Valley. It is also the largest city in the bay area so you can take your time exploring the entire breadth of this location.

If you’re into the latest technology Silicon Valley has to offer, San Jose is home to several iconic tech landmarks. There’s the Tech Museum of Innovation, as well as the Adobe Headquarters which features an illuminated semaphore code at the top that invites people to solve it.

Dining options are also abundant, with a Michelin-starred restaurant tucked away in Little Portugal, one of San Jose’s more interesting neighborhoods.

Mountain View

Located in the heart of Silicon Valley, Mountain View got its name from its breathtaking views of the Santa Cruz Mountains. You can find notable companies headquartered here, such as Google, Microsoft, Mozilla, and Nokia.

Foodies can go downtown and find Castro Street, a diverse district full of fine shops and restaurants featuring cuisine from all around the world.

If you’re worried about staying connected, Google has your back, providing free Wi-Fi connectivity all over the city.

Palo Alto

Palo Alto is a lively, energetic suburb situated in the northwest end of Santa Clara County.

Although not a metropolis like San Jose, Palo Alto still has numerous trendy places to visit, like b8ta (a small shop for everything electronic), electric carmaker Tesla’s showroom, and a life-size statue of Nikola Tesla which is both a free Wi-Fi access point and a time capsule to be opened in 2043.

Palo Alto is also home to Stanford University and HP Garage, where Hewlett Packard was founded in 1939.

Santa Clara

Despite being small with a population of a little over 100,000, major companies such as Intel, NVIDIA, WebEx, and National Semiconductor all have their headquarters set up in Santa Clara.

If you’re into technology, popular spots here include the Intel museum and Hacker Dojo, a hangout for computer enthusiasts. It’s also the first location in California to have a Bitcoin ATM.

Nestled within Santa Clara is Santana Row, a premier shopping area with choice restaurants, hotels, and stores like Gucci, Oakley, and Ann Taylor Loft.

Sunnyvale

Although it is one of the most populous cities in the Bay Area, Sunnyvale is ranked as one of the safest cities in the US.

If you’re an art lover, you will definitely enjoy this city. There are more than 100 pieces of public art on display all over. There’s also the Open Painting Studio, an art installation open to all levels of ability. The said venue teaches multiple art forms such as watercolor and calligraphy.

If you’re interested in history and space exploration, Sunnyvale also houses the NASA Ames Exploration Center and Historical Museum.

You can also find Fry’s Electronics here, a hugely popular gadget store in Silicon Valley.

For anyone who wishes to move into Silicon Valley, our real estate team at David & Sunny can serve your every real estate need. Our collective experience as Realtors in the Silicon Valley area will be useful to clients going through this process. Get in touch with us at 650.489.6251 or via email at info@david&sunny.com.

Top 10 Restaurants for Vegans in Silicon Valley

Top 10 restaurants for vegans in Silicon Valley

Top 10 restaurants for vegans in Silicon Valley

Today’s vegans are blessed—nay, spoiled—with so many exciting fruit and vegetable menu choices. Silicon Valley, in particular, has a vast array of restaurants for those who chose the road to veganism.

Here are some of the best Silicon Valley-based vegan restaurants to try out:

  1. The Green Barn
  2. 190 Ranch Dr.
    Milpitas, CA

    The Green Barn has an uncanny ability to put a unique and tasteful vegetarian twist to various cuisines. With its mission to help patrons maintain “a healthy lifestyle devoted to clean eating,” you’ll have both your stomach and heart fully satisfied. Make sure to give their papaya salad a try.

  3. Loving Hut
  4. 548 Lawrence Express Way
    Sunnyvale, CA

    Vegans in and around Sunnyvale know that they can get their fix at Merit Vegan Cuisine. Serving the community since 2007, the venue offers Vietnamese, Indian, Chinese, Thai and Japanese dishes given the vegan treatment. Must-tries include the spring rolls, orange nuggets with homemade orange sauce, lemongrass tofu, and curry veggies.

  5. Merit Vegan Cuisine
  6. 548 Lawrence Express Way
    Sunnyvale, CA

    Vegans in and around Sunnyvale know that they can get their fix at Merit Vegan Cuisine. Serving the community since 2007, the venue offers Vietnamese, Indian, Chinese, Thai and Japanese dishes given the vegan treatment. Must-tries include the spring rolls, orange nuggets with homemade orange sauce, lemongrass tofu, and curry veggies.

  7. Veggie Garden
  8. 2464 W. El Camino Real #C
    Mountain View, CA

    For truly authentic vegan Chinese food, the Veggie Garden is guaranteed to be worth the visit. The food fare is proudly all-natural, non-chemical, and served fresh with aplomb. Enjoy the venue’s vegan take on classic Chinese dishes such as orange chicken, pot stickers, and wonton, among other delectable delights.

  9. Good Karma Artisan Ales & Café
  10. 37 S. 1st St.
    San Jose, CA

    Vegan dining spots are a rarity in Downtown San Jose, but even if Good Karma was your only pick, that would be perfectly fine. Though the menu is limited, the portions are generous. The location also brews its own ales, making it an ideal spot for some after-hours vegan fun.

  11. Garden Fresh Chinese Vegan Cuisine
  12. 460 Ramona St.
    Palo Alto, CA

    Just like Veggie Garden, Garden Fresh focuses on making Chinese vegan cuisine. Bestsellers include Kun Pao Eggplant, Basil Moo Shu Rolls, Crispy Fried Tofu and Sweet and Hot Spicy Bean Curd.

  13. The Happy Hooligans
  14. 1711 Branham Ln. #A9
    San Jose, CA

    When it comes to comfort food, Happy Hooligans is the place to be. If you think it’s impossible to have an all-vegan mac-and-cheese, burger, buffalo chicken or burrito, The Happy Hooligans will be more than happy to prove you wrong.

  15. Mint & Basil
  16. 1741 N. Milpitas Blvd.
    Milpitas, CA

    Vietnamese cuisine offer a lot of different and delicious flavors but too bad for vegans, these often have a lot of meat. Fret no more, because the people behind Mint and Basil took it upon themselves to give you Vietnamese food that vegans can truly sink their teeth into. From rice noodle soups to spring rolls, Mint & Basil has them all. They now have two locations: one in Milpitas and the other, in San Jose.

  17. Vegan Donut and Café
  18. 449 E. Santa Clara St.
    San Jose, CA

    If you want something light and hearty, the Vegan Donut and Café is a great choice. Cake donuts, donut bars, bear claws, custard-filled, jelly-filled—every donut there is vegan-friendly. So if you’re craving for something sweet that won’t ruin your healthy diet, this place is worth checking out.

David & Sunny specializes in helping homebuyers feel at home in Silicon Valley. As residents of the area, we know how good life can be here. We would be more than happy to get you settled here. Get in touch with us at 650.489.6251 or via email at info@david&sunny.com.

Top 5 Reasons to Love Living in Los Altos Hills

Top 5 reasons to love living in Los Altos Hills

Top 5 reasons to love living in Los Altos Hills

Los Altos Hills is a lovely residential community in Santa Clara County, California. As one of the more exclusive communities in Silicon Valley, it’s a great choice for those who enjoy the finer things in life while basking in the splendor of their natural surroundings. It’s no small wonder that people who call this place home love what the neighborhood has to offer.

It stays true to its rural nature

From the tree-lined streets to the open space preserves, Los Altos Hills is blessed with natural beauty. The townsfolk are particularly proud of their town’s terrain consisting of small hills which they maximized with the construction of the Pathway System. This is a park-like environment where residents can enjoy a stroll or bicycle ride through an approximately 85-mile system of paths.

The many preserves in the area, such as Westwind Barn and Rancho San Antonio, offer a refuge for those wishing to get away from the daily grind.

Strictly residential

Commercial zones are banned in Los Altos Hills, so if it’s space, peace, and quiet you’re looking for, you’ll find it here. In fact, the only ventures that resemble a business here are the bookstore inside Foothill College and the gift shop within the Immaculate Heart Monastery of the Poor Clare Colettines.

Simply put, the town is committed to maintaining an idyllic laid-back lifestyle that eludes so many.

Upscale living standards

Data USA statistics as of 2016 sets the median household income in Los Altos Hills at $243,701. This is almost $190,000 higher than the national figure at $57,617.

Average home values meanwhile are among the highest with Los Altos Hills properties almost touching the $5,000,000 benchmark, according to Zillow.

Despite the higher-than-average selling prices for homes here, available properties are highly sought-after. They don’t stay in the market for long, with very few homes for sale at any given time.

Los Altos Hills residents include movers and shakers in various industries including technology, entertainment, sports, academia, and more. Some personalities who call Los Altos Hills home include Google CEO Sundar Pichai, Marcus & Millichap founder and chairman George M. Marcus, American-Chinese writer Connie Young Yu, and Hollywood actor Max Thieriot.

Schools

Three school districts serve Los Altos Hills: Los Altos School District (LASD), Mountain View-Los Altos High School District (MVLA), and the Palo Alto Unified School District (MVLA). The township is served by three high schools, three middle schools, and five elementary schools. All the schools under LASD have a 9 ranking.

A true neighborhood in every sense of the word

Los Altos Hills has a uniquely large number of committees chaired and run by residents. These committees harmoniously collaborate in tackling issues affecting the town as a whole such as safety, public health, and social connectedness. They strive toward only one goal: to keep the integrity of the neighborhood intact.

Picturesque natural beauty, the friendliest of neighbors, and luxury living at its finest—all these reasons and more are why so many home buyers are drawn to Los Altos Hills.

Finding an available home in the locale can be a challenge, but with the right real estate partner, it doesn’t have to be. Contact us, David and Sunny Chung, at 650.489.6251 or email us at info@david&sunny.com to discover how we can help you meet your real estate goals.

Is the market value for Silicon Valley properties dropping?

San Jose Skyline Vista

San Jose Skyline Vista

Recent months have seen home prices and sales in Silicon Valley declining slowly. But do the numbers mean that the market value of properties in the area are dropping?

The simple answer: No.

In fact, Silicon Valley real estate remains an impressive and healthy market. Despite the apparent cool down, property values in the area remain strong. Compared to other housing markets in the country, Silicon Valley is still hot.

Here are a couple of things you should know to better understand the market shifts in Silicon Valley real estate.

  1. There is an increase in the housing inventory.

    Not everyone in Silicon Valley has caught up with the slowdown in the local real estate. Enticed by the prices fetched by properties in the area, many home buyers in the market decide to list their homes.

    This has led to an increase in the housing inventory. And with that, buyers have more options and thus, more room to be selective.

  2. Some home buyers are getting fatigued.

    Home buyers who have been repetitively knocked out of bidding wars are also laying low for the mean time. It could be that they have gotten tired of the constant stress that comes with being outbid.

    Those who are still searching the market for their dream home, however, have noticed that prices in Silicon Valley have gone down. Instead of rushing to make an offer, the popular approach this time is to take things slow.

    And since sellers are making discounts, buyers are in a better position to pick out their dream home and make sound financial decisions.

  3. Sellers are being forced to make discounts and other offers.

    Due to the slowdown, some sellers in Silicon Valley slash their listing prices. Some even offer to cover closing costs and other fees to woo potential home buyers.

    With these price cuts, the median sales prices and average sales prices in Silicon Valley get affected.

These trends seem to show that the Silicon Valley market shifting from a seller’s market into a buyer’s market.

If you are buying a home in Silicon Valley, this can mean great things. More homes in the market mean more options and perhaps even more time to plan.

If you are selling your home in Silicon Valley, the venture might take some time. Offering discounts and other freebies might generate buyer interest, but it won’t guarantee a fast sale.

In conclusion…

Property prices might have slightly fallen in Silicon Valley, but the market is still hot and thriving, especially when you compare it to other cities.

For home buyers, now is the perfect time to explore housing options in Silicon Valley. To get started, browse the latest property listings in the community of your choice.

Meanwhile, sellers may have to work harder (or wait longer) to sell their home. That said, there is no need to worry. Competitive pricing and a brilliant marketing strategy can help you sell your property.

David and Sunny can help you navigate this interesting time in Silicon Valley real estate. Contact them today at 650-489-6251 or info(at)davidandsunny(dotted)com.