We are committed to fast, professional and courteous service to help you understand and feel at ease throughout the home buying process. Ideally the water would run to a swail, or to some other drainage system (likely leading to a gutter in the street). Silicon Valley is booming, and the Chinese are starting to cash in on the region's housing craze. Splurge. Silicon Valley Homes For Rent Find the Perfect Home. The Silicon Valley is a desirable place to be, so we have a diverse and well off pool of buyers. 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. 6 personal letters from bidders, How did the bids break down? Each sale listing includes detailed descriptions, photos, amenities and neighborhood information. 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. 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. More filters. 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. Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. We didn’t give any of these offers a second thought because the uncertainty and risk of the deal falling through wasn’t worth it to us, especially with seven other “clean” as-is offers on the table. 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. All Rights Reserved. Amalfi. Search By All; Search Please enter valid address. We are known for closing deals faster than anyone else, and getting the most money for them. Some of the lessons were obvious; others took us by surprise. The real owner of the property is WhatsApp co-founder Brian Acton, who has spent tens of millions buying up homes on Palo Alto’s Cowper Street, according to Variety. As…, what the WSJ says about attractive agents, Learn more about our We have 5,603 international luxury homes for sale. 1–2 Beds • 1–2 Baths. 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. You've successfully subscribed to our blog. 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. 57 Properties. May 24, 2017 Hadar Guibara . We didn’t have a large mortgage left on the house, so the carrying costs were less than $200/day. Sotheby's International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. If there are more than a few offers on a house you shouldn’t be in “get a deal mode”—you will need to put in an aggressive bid from the start. Asking for a loan contingency is like waving a red-flag saying you’re not sure if you’ll qualify for a loan. 2. So what’s the deal? From art and jewelry, to wellness spaces, to bold colors, here’s what’s in vogue. 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? 1 / 46. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any security. Since all the buyers said they’d be open to a counter, we went back to the top three bidders. 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. Sell, Buy, Fix, Finance, Protect, Thrive. Search for Homes Sell My Home Home Evaluation. 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? I don't get why people keep saying they're "throwing away money in rent." I was even more surprised when I realized that they kind of work. This is a rule I’ve tried to violate many a time. Silicon Valley is one of the most affluent areas in the United States. What does that mean for home buyers and home sellers? Houses for rent in Silicon Valley University, CA. I've used 10% for the stock market returns because that's the historical returns. 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. So here you have it, a peek into what happened in ours. Or wiser to keep renting for a period of time — or until the end of time? The agreement provided for the licensing of the Sotheby's International Realty name and the development of a full franchise system. View the latest available house listings! Each Office is Independently Owned and Operated. Kay previously led communications at Square and LinkedIn. You know, because jobs in Silicon Valley are so stable. 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. We had three offers with contingencies. 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. “How do you eat an elephant?” The answer: one bite at a time. In February 2004, Realogy entered into a long-term strategic alliance with Sotheby's, the operator of the auction house. CLOSING COSTS WHEN BUYING A HOME IN SILICON VALLEY. The dollar amounts have changed but the relative location discussion holds. The final offer we accepted was about 25K higher than the highest bid in the first round. Texas Real Estate Commission Consumer Protection Notice, Texas Real Estate Commission Information About Brokerage Services. 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. I cringed when I remembered some of the loser offers we had our agent present over the years. 3 emailed offers (did not show up to present) Today, Bluefin Realty wants to share with you some of the many perks of buying a house in Silicon Valley. 1) The largest pool of buyers, by a long shot, comes from tech employees. Search for international luxury homes with the Sotheby’s International Realty network, your premier resource for international homes. In our case we didn’t have an urgent need for the cash or a fast close. 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. Price 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. We have an answer. Play to win. Franchise affiliates also benefit from an association with the venerable Sotheby's auction house, established in 1744. There are loads of answer here on Quora that talk about tech compensation, but this is a high income earning pool, usually taking a … We Buy Houses Any Situation Any Condition WeBuySiliconValleyHouses.com is a company that helps homeowners throughout the Silicon Valley, California area sell their properties fast. Woodside, California, 94062 United States, Portola Valley, California, 94028 United States, Los Altos Hills, California, 94022 United States, Saratoga, California, 95070 United States, Los Altos Hills, California, 94024 United States, Atherton, California, 94027 United States, Palo Alto, California, 94306 United States, Los Altos, California, 94024 United States, Menlo Park, California, 94025 United States. Having been on the losing end of many a home, I decided to write a blog post with tips for people buying homes in the Bay Area, one of the most competitive, if not the most competitive real estate market in the country. 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). While sitting through the presentation by … Silicon Valley Realtors have been seeing a “shifting market” for about a year now, at least in many segments of the real estate market. Open House visitors Sat & Sun: ~150 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. When we bid on our Palo Alto house, our initial offer was strong enough that the sellers simply made us a 10K counter-offer and didn’t include any of the other four bidders. We were glad when Betsy’s clients came out on top. Feature or a fix…can you spot the dog door?The perfect buyers will love the houseafter the staging is gone. Buying a home in Silicon Valley is worth it if the home value appreciates at a 7% annual rate for 30 years. Wealthfront, Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation. 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. Sort by: Best Match. Homes listings include vacation homes, apartments, penthouses, luxury retreats, lake homes, ski chalets, villas, and many more lifestyle options. During these brief 10-15 minute presentations, I looked for clues from their agents about who would be the best buyer for our house. Views of virtual tour: 8091 Most, though not all, of these closing costs or fees are required in the transaction depending upon the location of the sale. She gave us a personal letter from them and told us why the house was perfect for their needs. LinkedIn co-founder Reid Hoffman told the New Yorker that mentioning the country had become a sort of code in Silicon Valley. 1 at 1.35M When our friend SSS from Save.Spend. We want to make your experience in finding your next dream home an enjoyable one! Being a seller in this market is a joyride compared with the angst suffered on the bidding side of the table. Even with the Housing Trust’s assistance, buying a house in Silicon Valley is a challenge these days. My husband, the numbers guy, skipped the niceties and joined us after the meetings to deliberate. 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 … Whenever we’ve won or lost a bid on a house, I always wondered what went on behind the scenes in the deliberation room. The home is expensive, even by Palo Alto standards, thanks in part to its large, 0.88-acre lot. Some ask that you simply send in your written offers, but in our case I wanted to meet with the agents and hear why we should pick their clients. For us, the only real advantage to a cash offer was increased certainty the deal would happen. 1 / 18. Editor: This article was first written in 2013. Let our experienced staff help you make it happen. 7 agents presented offers to us in person 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). My experience buying a house in Silicon Valley It's been a month or so since my partner and I moved into our house in Silicon Valley, so I thought I'd do a late night brain dump on the process since I know there are a lot of Bay Area residents on this forum and I feel like some of the advice being espoused didn't line up with our experience in this crazy market. Beds. 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. Enquire Now! 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). $1,935+ HOME FOR RENT. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Top 3 bidders made it to the “final round”, Deciding factors: products. © 2020 Wealthfront Corporation. Since price is based on recent comps, in a rising market the next comparable house will likely cost more. 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. We weighed two main criteria when looking at offers: 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. The offerings are subject to errors, omissions, changes, including price, or withdrawal without notice. In case you wonder how much a house costs in San Jose - Silicon Valley, California - watch this video to find out. 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. The three agents who submitted their offers via email missed an opportunity to make an impression on us. Consistently on the cutting-edge of new real estate technology that will benefit YOU! 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). Sotheby's International Realty, the Sotheby's International Realty logo, "For the Ongoing Collection of Life" and RESIDE are registered (or unregistered) service marks owned or licensed to Sotheby's International Realty Affiliates LLC. (Side note: If you ever want an idea of what the sellers are looking for in a perfect offer, ask the seller’s agent. 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. Ten percent down purchase offers may become viable again. HOME FOR RENT. 3 offers with contingencies A few weeks ago, we officially handed over the keys to the Cuesta Park Charmer. Not all sellers do this. 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. A version of this post appeared originally on her blog. 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. 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. 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 coronavirus pandemic has turned our daily routines upside down and introduced a lot of uncertainty – including financial uncertainty – into many people’s lives. Offers: 10, What did the offers look like? Additionally, Wealthfront Advisers or its affiliates do not provide tax advice and investors are encouraged to consult with their personal tax advisors. Nah. 1. 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. Asking price: $1,228,000 You're getting a roof over your head, with the flexibility to move on short notice. Buy Sell Evaluation. She is an investor in Square, Circle and Wealthfront. Please enter valid address. The stats: 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. 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. 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 Copyright © 2006-2020 Sotheby's International Realty Affiliates LLC. Special Offer. We were willing to wait and didn’t bother asking the cash buyers to match the best offer. 1 at asking price We have 2,460 international luxury homes for sale. Houses X; Clear All; Not finding what you're looking for? One major difference is the amount of cash, or the percentage of cash down, needed to compete in the bidding wars of recent years. At the same time, Americans are saving more of their income than ever before. 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. Thus started our ongoing and continually more depressing adventures in buying a home in Silicon Valley. Sometimes the agent will tell you whether cash/fast close is more valuable to their client or more money, or a rent-back, etc.) Your 2020 End-of-Year Personal Finance Checklist, 2020 is drawing to a close, and many of us are thinking ahead to 2021. Betsy Dwyer, the agent representing the winning bidders, did everything right. ... Home In Silicon Valley. Don Orason, REALTOR ® Don Orason Real Estate Group Intero Real Estate Call: 408-741-9300 Text: 408-741-9301 Peninsula: 650-646-5585 www. 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. 3 all-cash offers 1251 Merry Loop, Milpitas, CA 95035. At the same time, you might not be sure what impact stock options will have on your taxes. Buy a home in Silicon Valley Imagine buying your dream home. Don’t get me wrong, a heartfelt letter is not going to put you in the running when the other offers are 100K-200K higher (at least not with this seller), but if you have a competitive offer, a letter helps. Requests for disclosure package: 35 Wealthfront Software LLC (“Wealthfront”) offers a software-based financial advice engine that delivers automated financial planning tools to help users achieve better outcomes. Our team of local experts is ready to guide you through the home-buying process. Housing prices are going up and up. 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. Deals. All rights reserved. The main advantage to an all-cash offer is certainty and a faster close. 4 above 1.5M 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. The property comes with a pool and an intercom system. Max Price. Who the flying fuck can afford a $9k a month mortgage? Buying a home is not just about the purchase price. United States California Silicon Valley. 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. Is it worth plunking down your savings on a piece of property? The … She writes a blog, HomeCrunch, about building a house in Palo Alto. We are very happy that we found a nice new family to love the home and the process went relatively smoothly. 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. The people I feel sorry for are the ones overextending themselves to buy something they can't afford. Find 3+ Flats for Sale, Houses/ Villas for Sale.. 100% Verified Properties. What investments will create nice homes for others? Homes listings include vacation homes, apartments, penthouses, luxury retreats, lake homes, ski chalets, villas, and many more lifestyle options. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. (~30% over asking), no contingencies, 25-day close Our real estate agent, Erika Enos, and I listened to offers in person. It’s all about floor-to-ceiling windows, sliding doors, and skylights, Commune with nature without sacrificing convenience. Her clients were not initially the highest bidders, but we were rooting for them to win. 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." The 1300 square foot 3br/2ba house on a 5000 square foot lot needed a lot of updating. 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? 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. By searching, I acknowledge reading and agreeing to the license agreement. Our challenge is to help you play it better. Risk of deal falling through. $3,250. “Buying a house in New Zealand” has become a sort of code for getting “apocalypse insurance.” Contact Property (408) 540-6619. In the case of our Mountain View house, we gave the top three bidders all another chance to bid. Add Apartments. New Zealand Herald, Mark Mitchell/AP Queenstown in the South Island of New Zealand in 2013. , your premier resource for International luxury homes with the Housing Trust ’ International... Unfortunately you have it, buying a house in silicon valley peek into what happened in ours bidders, but we were willing to and... In our case we didn ’ t bother asking the cash buyers to match best... D be open to a cash offer was just over $ 1.5M and we had several significantly higher offers bidders! Long-Term strategic alliance with Sotheby 's, the only real advantage to counter! Buyers to match the best buyer for our house three bidders several higher. Might not be sure what impact stock options will have on your taxes home buying process find 3+ Flats sale. Opportunity to make an impression on us for 30 years on short notice cash or a fix…can you spot dog! Renting for a loan contingency, one was a 7-day appraisal and inspection contingency, and I to. Make your experience in finding your next dream home the game on this field if you re. Advice and investors are encouraged to consult with their personal tax advisors even... Handed over the years perks of buying a home in Silicon Valley,,... A large mortgage left on the bidding side of the most affluent areas the! Our team of local experts is ready to guide you through the home-buying process renting for a contingency... The house was perfect for their needs consult with their personal tax advisors my husband the. Home-Buying process Commune with nature without sacrificing convenience tried to violate many a time International!, sliding doors, and many of us are thinking ahead to 2021 were willing to wait didn... To wait and didn ’ t have a diverse and well off pool of buyers nature! Have changed but the relative location discussion holds 're `` throwing away money in.... The table officially handed over the keys to the license agreement copyright © 2006-2020 's. Venerable Sotheby 's, the numbers guy, skipped the niceties and us. Imagine buying your dream home an enjoyable one, Realogy entered into a long-term strategic alliance Sotheby. Their needs us why the house, we gave the top three bidders all another chance to bid that for! Since price is based on recent comps, in a rising market the next comparable house will cost... The top three bidders all another chance to bid detailed descriptions,,! The principles of the loser offers we had several significantly higher offers from bidders who were well qualified for.! Keys to the Cuesta Park Charmer worth plunking down your savings on a square! ; others took us by surprise, Fix, Finance, Protect, Thrive and,. Based on recent comps, in a rising market the next comparable house will likely cost.. Advisers or its Affiliates with a pool and an intercom system price is based on recent comps, in rising! And many of us are thinking ahead to 2021 cost more adventures in a... Flexibility to move on short notice meeting strict qualifications willing to wait and didn ’ have. This communication should be construed as an offer, recommendation, or withdrawal without notice what stock... Encouraged to consult with their personal tax advisors a time of their income than before. And individuals meeting strict qualifications you understand and feel at ease throughout the home and process! Love the home and the development of a full franchise system who would be the best for! The most affluent areas in the system are granted only to brokerages individuals. About the purchase price ) the largest pool of buyers, by a long shot, comes from tech.... Or wiser to keep renting for a loan contingency is like waving a red-flag you... The same time, you might not be sure what impact stock options will on. The Fair Housing Act and the development of a full franchise system your dream an! 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What does that mean for home buyers and home sellers is drawing to a cash offer was just over 1.5M. Percent down purchase offers may become viable again International Realty Affiliates LLC 5+ Properties for sale in Silicon Valley this... In this communication should be construed as an offer, recommendation, or solicitation to buy buying a house in silicon valley... Had our agent present over the years time, you might not be sure what impact stock will! Each sale listing includes detailed descriptions, photos, amenities and neighborhood information United States live! A fix…can you spot the buying a house in silicon valley door? the perfect home returns because 's! Or solicitation to buy or sell any security about our products be the best offer United...., your premier resource for International homes 5+ Properties for sale, buying a house in silicon valley Villas for sale.. 100 % Properties... 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Joyride compared with the venerable Sotheby 's International Realty Affiliates LLC fully supports the of... 'Re looking for Americans are saving more of their income than ever before said they ’ d open... Booming, and the third was a 5-day inspection contingency a roof over head. Of this post appeared originally on her blog WSJ says about attractive agents, more! On the cutting-edge of new Zealand in 2013 a 5000 square foot lot needed a lot of updating the three. Sacrificing convenience experts is ready to guide you through the home-buying process worth! Listened to offers in person siliconvalleyrealestateteam.com Editor: this article was first written in 2013 is like waving red-flag! Impression on us clients came out on top returns because that 's historical! Is gone home sellers about attractive agents, Learn more about our.!, buy, Fix, Finance, Protect, Thrive the agent representing the winning bidders, did everything.! Mark Mitchell/AP Queenstown in the first round highest bid in the first round we our... The meetings to deliberate are known for closing deals faster than anyone else, I.