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The energy is high in the Silicon Valley and San Mateo County

Energy is high in the Silicon Valley and San Mateo County, and nowhere is it seen more clearly than in the housing market.

San Carlos home sold#  1     Los Altos
#  2     Newport Beach (SoCal)
#  3     Saratoga
#  4     Menlo Park
#  5     Palo Alto
#  6     Los Gatos

An article in today's issue of Silicon Valley/San Jose Business Journal, "San Jose Leads Nation in High-End Housing" tells us that 5 of the 6 highest-cost housing markets in the country for 4-bedroom, 2-bath homes are in this area.

#10     San Carlos
#13     San Francisco


These local cities were not far behind.

Being a high-cost area might not be good news, if properties weren't selling. However, the cost is not deterring buyers.

We're seeing homes eagerly snatched up before they hit the MLS. Overbids are more than common--in these cities they are the norm. Multiple offers abound.

  • A townhouse I recently listed in the City of Santa Clara sold after 8 days on the market, 11 offers, and about 13% over list.
  • A buyer of mine who is closing next week on a single-family house in Redwood City competed with 3 others and paid over 12% above asking.
  • A duplex in Redwood City, closing today my buyers hope, sold within days of coming on the market with 2 offers.
  • Other buyers of mine have lost out in multiple offers (12 and 11 in number) in Belmont and San Mateo; they offered 9% and 12% over asking--the best they could do. They are still looking to buy a San Carlos, Belmont or San Mateo home.


Sellers, if you're wondering if it's a good time to sell your San Mateo County or Silicon Valley property, wonder no more and give me a call today.
With proper pricing, proper preparation, and great advertising I think you'll be pleased with the result.

Energy is definitely high in San Mateo County and the Silicon Valley.


--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Compass

CA DRE#10215160; 650-465-4547

Lottie@LottieKendall.com

www.LottieKendall.com

Peninsula Living Business Page

www.SFCondosForMe.com

 

 

Comment balloon 9 commentsLottie Kendall • November 30 2012 08:02AM

Comments

Good for you Lottie - it looks as if it pays ( literally) to be a good Realtor in a hot market. Sellers who are waiting until Spring to list are missing out on a good time to market their home. They'd be wise to call you and get it sold.

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) over 6 years ago

Lottie, I'm not surprised to see those cities appear on the "highest-cost" housing list...although I wouldn't have guessed Menlo Park to be above Palo Alto. I hope your buyers who have lost out in the past can be the successful winning bidders on future listings in this competitive market! :)

Leilani

Posted by Bob & Leilani Souza, Greater Sacramento Area Homes, Land & Investments (Souza Realty 916.408.5500) over 6 years ago

Hi Lottie, markets seem to be heating up all over and CA is certainly hot! I sure you'll be able to help your buyers find the right home for them. Congrats on finishing the 30 in 30 challenge.

Posted by Nancy Laswick, Your REALTOR® For The Valley Of The Sun (United Real Estate) over 6 years ago

Hi Lottie, I am glad to know that your market is hot. Sellers would be wise to call Lottie to list your property  and get it sold quickly.

Posted by Kwee Huset, Venice Florida Homes For Sale (Kwee Huset Realty) over 6 years ago

Hi Lottie, thanks for sharing about your market, San Mateo County and Silicon Valley.  Sounds similar to ours, in Santa Monica real estate with multiple offers right out of the gate and over asking!  Great for sellers and buyers!!  Low interest rates and low prices.  Kristine

Posted by Kim & Kristine Halverson, Sisters, Realtors (Compass) over 6 years ago

Really wonderful news about your housing market out there! 2013 should prove to be a fantastic year!

Posted by Barbara-Jo Roberts Berberi, MA, PSA, TRC - Greater Clearwater Florida Residential Real Estate Professional, Palm Harbor, Dunedin, Clearwater, Safety Harbor (Charles Rutenberg Realty) over 6 years ago

Thanks for your comments, everyone. It's interesting to learn what our various real estate markets are like; a good reminder that real estate is local, and unique.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 6 years ago

Lottie, I hadn't seen this list until your post, but it doesn't surprise me.  We'e lucky to live and work here.   I read your comment to the Pocket Listing/Off Market post and I think your manager is 100% correct and you should heed his/her advice.

Posted by Lloyd Binen, Silicon Valley Realtor since 1976; 408-373-4411 (Certified Realty Services) over 6 years ago

Lloyd, we are, indeed, fortunate to live and work here. I just did an analysis on the condo market in downtown Palo Alto for a client--amazing how hot the market is. Will you be joining Bryan and other AR colleagues in Los Altos today? Hope to meet you there.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) over 6 years ago

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