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 Sotheby's International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. 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. We weighed two main criteria when looking at offers: All rights reserved. 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. Unfortunately you have to play the game on this field if you live here. 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? Play to win. 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. Sell, Buy, Fix, Finance, Protect, Thrive. 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. 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. All Rights Reserved. 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). Views of virtual tour: 8091 The Silicon Valley is a desirable place to be, so we have a diverse and well off pool of buyers. 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). Sale price: $1,603,500 Search for international luxury homes with the Sotheby’s International Realty network, your premier resource for international homes. 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. Who the flying fuck can afford a $9k a month mortgage? May 24, 2017 Hadar Guibara . 3 all-cash offers HOME FOR RENT. So what’s the deal? Each sale listing includes detailed descriptions, photos, amenities and neighborhood information. 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. 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. 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? 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. From art and jewelry, to wellness spaces, to bold colors, here’s what’s in vogue. At the same time, Americans are saving more of their income than ever before. 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. Price So here you have it, a peek into what happened in ours. This is a rule I’ve tried to violate many a time. 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. © 2020 Wealthfront Corporation. [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. Deals. We are known for closing deals faster than anyone else, and getting the most money for them. 7 agents presented offers to us in person 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. You know, because jobs in Silicon Valley are so stable. The main advantage to an all-cash offer is certainty and a faster close. Buying a home in Silicon Valley is worth it if the home value appreciates at a 7% annual rate for 30 years. 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. 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. Asking price: $1,228,000 Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any security. Kay previously led communications at Square and LinkedIn. (~30% over asking), no contingencies, 25-day close We want to make your experience in finding your next dream home an enjoyable one! 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. We are very happy that we found a nice new family to love the home and the process went relatively smoothly. 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. Wealthfront, Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation. 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. Buy a home in Silicon Valley Imagine buying your dream home. Silicon Valley Realtors have been seeing a “shifting market” for about a year now, at least in many segments of the real estate market. The 1300 square foot 3br/2ba house on a 5000 square foot lot needed a lot of updating. My husband, the numbers guy, skipped the niceties and joined us after the meetings to deliberate. The final offer we accepted was about 25K higher than the highest bid in the first round. 1 / 18. 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. 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. Consistently on the cutting-edge of new real estate technology that will benefit YOU! There are loads of answer here on Quora that talk about tech compensation, but this is a high income earning pool, usually taking a … Some of the lessons were obvious; others took us by surprise. products. 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. 4 above 1.5M She is an investor in Square, Circle and Wealthfront. We had three offers with contingencies. 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. 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. 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). Buy Sell Evaluation. The property comes with a pool and an intercom system. Being a seller in this market is a joyride compared with the angst suffered on the bidding side of the table. Editor: This article was first written in 2013. A version of this post appeared originally on her blog. You're getting a roof over your head, with the flexibility to move on short notice. We have an answer. We didn’t have a large mortgage left on the house, so the carrying costs were less than $200/day. 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 … We were willing to wait and didn’t bother asking the cash buyers to match the best offer. By searching, I acknowledge reading and agreeing to the license agreement. Not all sellers do this. 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. The dollar amounts have changed but the relative location discussion holds. 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. ... Home In Silicon Valley. Since price is based on recent comps, in a rising market the next comparable house will likely cost more. We have 2,460 international luxury homes for sale. What does that mean for home buyers and home sellers? Max Price. We were glad when Betsy’s clients came out on top. Sotheby's International Realty Affiliates LLC supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. I don't get why people keep saying they're "throwing away money in rent." Ten percent down purchase offers may become viable again. Our challenge is to help you play it better. We have 5,603 international luxury homes for sale. Contact Property (408) 540-6619. Search for Homes Sell My Home Home Evaluation. 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. Since all the buyers said they’d be open to a counter, we went back to the top three bidders. At the same time, you might not be sure what impact stock options will have on your taxes. 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. 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? Nah. Silicon Valley Homes For Rent Find the Perfect Home. Top 3 bidders made it to the “final round”, Deciding factors: 2. Houses for rent in Silicon Valley University, CA. 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). Asking for a loan contingency is like waving a red-flag saying you’re not sure if you’ll qualify for a loan. Please enter valid address. 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