Silicon Valley Real Estate Articles and Community News

Sept. 19, 2017

Silicon Valley Market Report - August 2017

The Silicon Valley Market Report for August 2017 showed an increase in sales for most of the area, lower inventory than last year and higher prices across the board.Silicon Valley continues to be a Seller's market. Every single one of the communities in this Silicon Valley Market Report for August 2017 had less than one month of inventory available. Sunnyvale was the lowest at just one week's supply. For perspective, a "balanced" market would have around three months of inventory available for sale. Only Cupertino experienced a year-over-year decrease in sales. However, the drop of sales was caused by a lack of affordable homes for sale. Every other city saw higher sales, with Sunnyvale (+32.3%), Santa Clara (+39%) and Los Altos (41.2%) coming out on top. All Silicon Valley communities in this market report saw prices go up month-over-month and year-over-year.

Cupertino Real Estate Market - August 2017

Total sales of Cupertino homes declined over the past year. In August 2016, 32 Cupertino homes were sold. In August 2017, that dropped 15.6% to 27 total homes sold. Inventory levels decreased even further. While there were a reported 1.2 months available in August 2016, only 0.7 months were reported in August 2017. Prices continue to march upward as well. Cupertino Buyers paid an average of $1,567,584 in August 2016 (10.7% below list price). In August 2017, they paid $2,062,156 on average (3.9% above list price). This put the average price-per-square-foot at $1,025, a 10.6% increase from the $927 in August 2016.

Los Altos Real Estate Market - August 2017

Seventeen (17) Los Altos homes were sold in August 2016. In August 2017, they rose 41.2% to 24 total homes sold. Inventory levels dropped here as well. While there were a reported 2.3 months of inventory available in August 2016, only 0.8 months were shown in August 2017. Prices rose here, too. Los Altos Buyers paid an average of $2,488,611 in August 2016 (13.7% below list price). In August 2017, they paid $2,807,083 on average (just 0.2% below list price). This put the average price-per-square-foot at $1,276, a 10.9% increase from the $1,151 in August 2016.

Mountain View Real Estate Market - August 2017

The Mountain View market followed Los Altos' footsteps. In August 2016, 50 Mountain View homes were sold. In August 2017, they increased 20% to a total of 60 homes sold. Inventory in Mountain View is the lowest of all Silicon Valley communities in this market report. They dropped from 1.1 months available in August 2016 to just 0.3 months in August 2017. Prices increased as well. Mountain View Buyers paid an average of $1,347,968 in August 2016 (2% above list price). In August 2017, they paid $1,605,602 on average (4.8% above list price). This put the average price-per-square-foot at $1,061, a 16.7% increase from the $909 in August 2016.

San Jose Real Estate Market - August 2017

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As usual, San Jose showed the most activity out of all Silicon Valley communities in this market report. In August 2016, 761 San Jose homes were sold. In August 2017, this went up 7.5% to a total of 818 total homes sold. Like the rest of the Silicon Valley, inventory levels tightened even more. They decreased from 1.6 months available in August 2016 to 0.5 months in August 2017. That's over 2/3 less homes available than the previous year. San Jose also continued to be the most "affordable" of the six communities in this Silicon Valley market report. San Jose Buyers paid an average of $853,928 in August 2016 (0.3% above list price). In August 2017, they paid $956,809 on average (2.4% above list price). This put the average price-per-square-foot at $604, a 10.4% increase from the $547 in August 2016.

Santa Clara Real Estate Market - August 2017

Santa Clara year-over-year sales also experienced an increase. In August 2016, 82 Santa Clara homes were sold. In August 2017, this skyrocketed 39% to 114 total homes sold. Inventory levels dropped from 1.8 months available in August 2016 to just 0.4 months available in August 2017. Santa Clara Buyers paid an average of $972,353 in August 2016 (1.7% above list price). In August 2017, they paid an average of $1,173,555 (10.5% above list price). This put the average price-per-square-foot at $825, a 22% increase from the $676 in August 2016.

Sunnyvale Real Estate Market - August 2017

Like most of the rest of the Silicon Valley communities in this market report, year-over-year sales in Sunnyvale went up. In August 2016, 75 Sunnyvale homes were sold. In August 2017, they shot up 32.3% to 98. Inventory here is the lowest out of all six areas on this Silicon Valley market report. The dropped from one month available in August 2016 to just 0.2 months available in August 2017. Sunnyvale Buyers paid an average of $1,196,999 in August 2016 (1.3% above list price). In August 2017, they paid an average of $1,469,337 (12% above list price). This put the average price-per-square-foot at $990, a 24.1% increase from the $798 in August 2016.

What Silicon Valley Buyers Need to Know

You should expect to see the Silicon Valley real estate market continue to favor the Seller through the end of this year. Incredibly low inventory levels partnered with a high demand force prices up all over the Silicon Valley. My biggest piece of advice is to start getting your financing in order. When you find the perfect Silicon Valley home for your needs, you'll want to pounce on it right away. Be prepared to pay above asking in most of these communities. Contact your Silicon Valley REALTOR@ to get started today. As always, feel free to visit my Home Buying page for more buyer tips

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

Sept. 12, 2017

Silicon Valley Energy Upgrade California Program

We all want a more energy efficient home. Not only does this reduce energy costs, but it helps the environment as well. I wrote about how Silicon Valley Green Energy began offering 100% green energy to Silicon Valley homes earlier this summer. I also offered some simple yet effective energy saving tips, too. But, did you know that the Silicon Valley Energy Upgrade California Program offers homeowner rebates when you do a regular home upgrade or an advanced home upgrade?

The Silicon Valley Energy Upgrade California Program offers two rebate options: a regular home upgrade (up to $3000 in rebates) and an advanced home upgrade (up to $5500 in rebates).Silicon Valley Energy Upgrade California Program

Option #1 - Home Upgrade

Search North Bayshore Homes for SaleAny Silicon Valley home built before 2001 can perform energy efficient upgrades through the Home Upgrade program. At least three upgrades to heating and/or air conditioning elements in your home must be completed to receive any rebates. These include things like duct sealing, insulation, water heater and windows. Any upgrades done through the Home Upgrade program can net you up to $3000 in rebates as well as $150 back on your combustion safety test.

Option #2 - Advanced Home Upgrade

With the Advanced Home Upgrade option, your contractor uses special equipment to assess various locations throughout your Silicon Valley home. This helps determine what areas need to be addressed for energy waste. If you perform recommended upgrades that decrease your energy usage by at least 10%, you become eligible for rebates. When you perform any upgrades through the Advanced Home Upgrade program, you may receive up to $5500 in rebates as well as a $300 assessment initiative.

Rebate Eligibility

To be eligible for rebates through the Silicon Valley Energy Upgrade California Program, you must:

  • be a Santa Clara County resident
  • be a PG&E customer
  • own the single-family home you are performing upgrades on
  • use a contractor approved by the program to perform the upgrades
  • perform upgrades on any heating/cooling equipment PG&E services in your home

Find out more about the Silicon Valley Energy Upgrade California Program by visiting the Bay Area Energy Upgrade website here.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

Aug. 29, 2017

Costs of Buying a Silicon Valley Home

VA loans require no money down. With a high enough credit rating, a conventional buyer may be able to get a loan with no money down through other means. However, most Silicon Valley home buyers must provide a down payment. Furthermore, the down payment represents only one of the many costs involved in buying a Silicon Valley home. Do you know the others?

Don't be surprised. Know the costs of buying a Silicon Valley home before you close. Hint: the down payment is just the beginning.

Costs of Buying a Silicon Valley Home

Some costs of buying a Silicon Valley home occur only during the transaction itself. Others continue on a regular basis. When considering whether or not the home you're looking at is "affordable", keep these costs in mind. Some of these costs may not come up at all. But I included them here anyway just in case. That way, you won't be surprised if and when they come up during the Silicon Valley home buying process.

One Time Costs

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Most lenders require an appraisal be done of the Silicon Valley home you're interested in purchasing. This runs anywhere from $175 to $300. They want to make sure it is worth the money they are loaning you to buy it. Other one-time fees include a mortgage broker fee, survey fee, land transfer tax and legal fees. A mortgage broker looks for lenders to fit your needs and organizes all the paperwork involved. They are entitled to a fee for their services. You can either talk to your Silicon Valley real estate agent to see if they recommend someone or shop around on your own.

Your mortgage company may request a property survey be done if it is an existing home (versus new construction). This could cost anywhere between $700 and $1000. Again, talk to your personal real estate agent for possible recommendations. Next, there's the land transfer tax. This exists whenever property changes hands. Finally, some people may want a lawyer to look over your paperwork before you sign. Not everyone does this. But, if you do, shop around. Rates and reputation vary.

Other expenses may seem trivial but are often overlooked when you think about the costs of buying a Silicon Valley home. First of all, there's the moving costs. These can be lofty, even when you do it yourself. Hiring a professional company may cost a bit more (around $50 to $100 per hour or higher when demand is up), but it might be easier than trying to convince friends and family to help. Next, there's your utilities. When moving to a new address, utility companies may require a one-time installation fee. These can add up when you consider the various companies involved. That cost is unavoidable.

Ongoing Costs

Of course, you pay a monthly mortgage payment when you buy a Silicon Valley home unless it's an all cash purchase. However, even when you pay cash for your home, you still must contend with property taxes. Most often, this gets included in with your mortgage payment. If it isn't, you'll be required to show proof of payment every year. Property insurance covers your home and its contents in case of theft or damage. Your lender may require you to obtain mortgage loan insurance depending on how much equity you have in your Silicon Valley home. This can cost between 0.5 and 3.5% of the total loan and will be added as a monthly fee along with your mortgage and tax payment. Finally, there's maintenance fees. When you live in a condo, this is an extra fee for maintaining the property's exterior. If you live in a suburb with an HOA, they will charge an annual maintenance fee.

As you can see, the down payment is only the first of many costs associated with buying a Silicon Valley home. Visit my home buying page for more information on the Silicon Valley home buying process. Or, you can always contact me with any questions you may have. I'm here to serve.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

Aug. 22, 2017

Silicon Valley Home Buyers: Pre-Approval vs Pre-Qualifying

Back in the day (ie, before the bust of the mid-2000's), pre-qualification of a mortgage might have been enough to start a Silicon Valley real estate search.  After the bubble burst, though, things shifted.  Pre-qualification won't cut it now.  Silicon Valley Home Buyers need to be pre-approved instead.  This works to your advantage in more ways than one.

For Silicon Valley home buyers, pre-approval is always better than pre-qualifying for a home loan. Your first step in buying a Silicon Valley home should always be to secure financing.

Advantages of Mortgage Pre-Approval for Silicon Valley Home Buyers

Show of Strength

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The Silicon Valley real estate market is one of the most competitive markets in the entire country.  As such, Sellers rule the roost.  For every home available for sale, several Buyers show interest.  This allows Sellers the luxury of choosing from multiple offers.  You present an offer with a Certificate of Financing Approval to back it up.  Another Silicon Valley Buyer offers more money but presents their offer with a "condition of financing" addendum.  Most Sellers choose the offer with financing already in place.  Why?  They won't have to wait and gamble with the possibility of financing not going through.  Money can exchange hands sooner with a pre-approved Buyer.

Potential Cost Savings

The sooner you start the financial approval process, the sooner you can lock in your interest rates.  Financial experts believe we could see higher rates soon.  A lower rate means a lower payment.  This also helps you determine your points and closing costs.  That way, there are no surprises come closing time.  Completing the pre-approval process early also grants you extra time to find the perfect Silicon Valley home.  For more tips about the home buying process, please visit my Home Buying page.  Or, feel free to contact me with any questions you may have. 

Cash Buyers don't have to worry about the pre-approval process.  All other Silicon Valley home Buyers on the other hand need to start this process right away.  Don't miss out on your dream home because you were ill prepared.  Talk to your lender today so you can settle into the Silicon Valley home of your dreams tomorrow.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

Aug. 15, 2017

Energy Saving Tips for Your Silicon Valley Home

Energy costs for an average Silicon Valley home add up to approximately $1300 per year.  Programs like Silicon Valley Clean Energy's GreenStart and GreenPrime utilize clean renewable energy.  While they help reduce our carbon footprint, they don't necessarily reduce your monthly expenses.  However, you can lower your costs in other ways.  Check out my energy saving tips for your Silicon Valley home below.  They can help cut your energy costs by anywhere between 10% and 50%.

Reduce costs by utilizing my energy saving tips for your Silicon Valley home. PG&E offers a free online audit of your home's energy usage to help identify areas you need to improve.

Energy Saving Tips for Your Silicon Valley Home

Perform an Audit of Your Silicon Valley Home

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First of all, you're going to need to audit your home's energy usage.  You can do this yourself if you'd like.  Pacific Gas & Electric offers a Home Energy Checkup online.  All you have to do is sign in to your account and answer a few questions about how you and your family use the energy in your Silicon Valley home.  Then, it analyzes your answers to create a personalized list of ways in which you can reduce energy usage in your "high traffic" areas.

A walk through of your Silicon Valley home can also help you identify possible problem areas.  Look for holes or cracks in your windows, walls, floors, doors, light fixtures, plumbing fixtures and even your electrical sockets.  Pay attention to how and where you use electricity in your home.  This will tell you where you need to focus your conservation efforts.

Create a Plan and Implement It

After you've identified the areas that need to be addressed, formulate your plan of attack.  Then, make the changes necessary.

Windows/Doors - Replace old, cracked weatherstripping.  If you look at your front door and can see sunlight streaming through, they aren't hung properly.  You're losing heat in the winter and cool air in the summer.  Sometimes, a kick plate and added weatherstripping around the door can alleviate some of the problem.  However, contacting a professional to fix it may be a better way to go.  The few dollars it costs for them to rehang your door could save you thousands of dollars in energy costs down the road.

Fireplace - Everyone loves cozying up to a fire when the weather turns chilly.  But this also presents an issue with energy costs.  Keep the flue closed when not in use.  If you don't every use your fireplace, consider plugging it up and sealing the chimney flue completely.  Maximize the heat coming from the fireplace by cracking a nearby window to no more than 1" open.  Shut the doors that lead into the room.  This helps circulate the warm air instead of sending it up the chimney and outside of your home.

Air Conditioners/Heaters - Make sure these are maintained properly.  That means changing your air conditioner's filter every three months.  Have someone perform a maintenance check on your heater in early fall, before you put it into use for the colder months.

Thermostat - A programmable thermostat just may be your best friend.  In the summer, set the temperature higher when no one is home.  Then, about half an hour before you normally return, you can set it to a comfortable temperature.  In the winter, keep it at a lower temperature when everyone is gone.

Ducts - Every Silicon Valley home includes a large amount of ducts.  The twists and turns allow for several points of deterioration.  Check every inch of duct work for leaks.  If you use duct tape to repair the leaks, make sure it has an Underwriters Laboratories (UL) seal of approval.  It is less likely to degrade or wear down over time than those without the UL logo.

These are just a few energy saving tips for your Silicon Valley home.  If you don't hire a professional to inspect your home for leaks, your best bet would probably be to take PG&E's online Home Energy Checkup.  Fixing areas of energy waste not only helps reduce our impact on Mother Earth, but it also reduces the impact on our finances.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

Aug. 8, 2017

Silicon Valley Market Report - July 2017

The Silicon Valley Market Report for July 2017 showed sales were up everywhere except Los Altos. Every community except San Jose has an average sale price over $1 million. Inventory dropped even further.Silicon Valley real estate continues to be a Seller's market.  Every single one of the communities in this Silicon Valley Market Report for July 2017 showed well under one month inventory available.  Los Altos was the only Silicon Valley market with less year-over-year sales in July.  Likewise, prices in every city tracked have gone up compared to June 2017.  In fact, San Jose is now the only community tracked in Silicon Valley where the average list price is still under $1,000,000.

Cupertino Real Estate Market - July 2017

Housing inventory continues to remain low in Cupertino, from 2.1 months in July 2016 to just 0.8 months in July 2017. Twenty-nine homes were sold in Cupertino in July 2017, a 38.1% increase from the 21 sold in July 2016.  Lower new listings have continued to drive prices up as well.  In July 2016, Cupertino Buyers paid $1,823,583 (9.8% above list price). In July 2017, they paid an average of $1,859,966 (2.3% above list price).  The average price-per-square-foot increased from $990 in July 2016 to $1,051 in July 2017, a 6.2% upturn.

Los Altos Real Estate Market - July 2017

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Year-over-year sales dipped slightly in Los Altos.  A total of 33 homes were sold in Los Altos in July 2017, just two less than the 35 sold in July 2016.  Like most of the rest of the Silicon Valley real estate market, inventory levels remain low.  The 1.2 months shown in July 2016 dropped even further to just 0.7 month's availability in July 2017.  Los Altos Buyers paid an average of $2,737,304 in July 2016 (5.5% above list price).  In July 2017, they paid an average of $2,925,421 (4.6% above list price).  This bumped up the price-per-square-foot from $1,111 in July 2016 to $1,242 in July 2017, an increase of 11.8%.

Mountain View Real Estate Market - July 2017

Year-over-year sales saw a slight uptick in Mountain View.  The 52 homes sold in July 2017 equaled just one more than the 51 sold in July 2016.  Mountain View inventory levels experienced the same tightening that the rest of the Silicon Valley communities did.  The inventory of available homes for sale decreased from 0.9 months in July 2016 to just two weeks in July 2017.  In July 2016, Mountain View Buyers paid an average of $1,264,190 (2.9% under list price).  In July 2017, they paid an average of $1,559,497. This represents 23.4% year-over-year appreciation in this highly-sought community, thus boosting the price-per-square-foot from $877 in July 2016 to $1,063 in July 2017.

San Jose Real Estate Market - July 2017

San Jose continues to be one of the few communities still somewhat affordable in Silicon Valley; as such, home sales continue to increase month over month and year to year. A total of 781 San Jose homes were sold in July 2017, a 9.2% increase from the 715 sold in July 2016.  With high demand, inventory levels were cut by two-thirds from their 1.8 months available in July 2016 to just 0.6 month’s inventory in July 2017.  San Jose Buyers paid an average of $883,292 in July 2016 (3.2% of list price).  In July 2017, they paid an average of $968,644 (4.1% over list price).  This brought the average price-per-square-foot to $609 in July 2017, 10.1% above the $553 paid in July 2016.

Santa Clara Real Estate Market - July 2017

Eighty-seven Santa Clara homes were sold in July 2017, 19.2% more than the 73 sold in July 2016.  Inventory levels dropped from 1.5 months in July 2016 to just 0.7 month’s inventory in July 2016. In July 2017, Buyers paid an average of $1,111,825 (4.5% above list price).   In July 2016, Santa Clara Buyers paid an average of $957,208.  This pushed the price-per-square-foot up to $814, 21.9% higher than the $668 paid in July 2016.

Sunnyvale Real Estate Market - July 2017

Sunnyvale CA continues to be a community in high demand due to its proximity to companies like Apple, LinkedIn, and Google.  A total of 94 Sunnyvale homes were sold in July 2017, 17.5% more than the 80 sold in July 2016.  Just like the rest of Silicon Valley, inventory levels continue to drop in Sunnyvale to just 0.5 months in July 2017.  In July 2016, Sunnyvale Buyers paid an average of $1,283,431 (10.2% above list price).  In July 2017, they paid an average of $1,437,596 (8.2% above list price).  This bumped the price-per-square-foot up to $933, 11.5% higher than the $837 paid in July 2016.

What Silicon Valley Buyers Need to Know

It appears that the Silicon Valley real estate market will continue to be a Seller's market through the rest of the year.  Inventory levels remain extremely low which helps spur on higher prices.  Make sure you have your financing in place before you start looking for a Silicon Valley home.  In several Silicon Valley real estate markets, you're most likely going to have to offer well above list price to be competitive with other Buyers.  Your Silicon Valley REALTOR@ can help you craft a strong yet fair offer when you find the home you want.  You'll find more helpful tips on my Home Buying page.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

Aug. 1, 2017

Los Altos Downtown Green 2017 Pop-Up Park

Los Altos offers a dozen different parks around the city throughout the year.  However, that number grows by one every summer.  The Los Altos Downtown Green 2017 Pop-Up Park is in full effect until the end of August.  Located in the heart of Silicon Valley's downtown Los Altos, this temporary park provides a unique location for families, friends and professional business people to meet up.

There's something new almost every night through August 31st at the Los Altos Downtown Green 2017 pop-up park.

Los Altos Downtown Green 2017

The Los Altos Downtown Green 2017 pop-up park is set up on Third Street, between Main and State.  Currently, synthetic turf covers this stretch of land.  Colorful chairs and tables create the perfect backdrop for a variety of activities scheduled throughout the month.  In fact, almost every night throughout August includes one or two special events that are all open to the community absolutely free of charge.

Los Altos Downtown Green 2017 Schedule of Events

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Join a pilates class in the park every Sunday morning.  Beginners and pros are welcome.  Bring your favorite vinyl records on Monday nights to share with others.  Different local Silicon Valley bands perform every Tuesday evening.  Enjoy dinner with your Los Altos neighbors at the Community Supper every Wednesday evening.  Pack a picnic or pick something up from your favorite Los Altos restaurant.  From 4pm to 8pm every Thursday, shop locally at the farmer's market.  There's a 55+ nightclub set up on August 4th and 11th.  

Saturdays are reserved for movies in the park.  Watch One Big Home on August 5th, Moana on August 12th, La La Land on August 19th and Guardians of the Galaxy on August 26th.  Beginning at dusk (around 8pm), each movie plays on a giant inflatable screen under the stars.  Bring a blanket or lawn chairs to watch in comfort.  For a complete up-to-date list of all Los Altos Downtown Green 2017 events, follow them on Facebook.

Between events, Los Altos Downtown Green 2017 acts as a great place for lunch with friends.  Enjoy a late morning meeting with clients.  Or simply take a moment for yourself while you unwind after a long day.  Living in Silicon Valley means embracing every bit of life around you.  Take this time to enjoy what Silicon Valley has to offer.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

Posted in Los Altos Events
July 25, 2017

Silicon Valley Beer Week 2017

Let the Discovery Channel have its Shark Week.  Beer enthusiasts have something else to celebrate: Silicon Valley Beer Week 2017.  It's going on now through Sunday, July 30th.  Silicon Valley Beer Week 2017 praises everything about our local craft beer culture, including food pairings, special events, demonstrations and, of course, fine craft beer.

From now through July 30th, enjoy fine locally crafted beer with food, demonstrations and more during Silicon Valley Beer Week 2017.

Silicon Valley Beer Week 2017

Literally dozens of restaurants, pubs, breweries, stores and more across Alameda, San Mateo and Santa Clara Counties will be participating in Silicon Valley Beer Week 2017.  Whether it's food pairings or a tap take-over, blind tasting or drinking from a plastic "boot" while watching "Das Boot", there is something for everyone.

Businesses Participating in Silicon Valley Beer Week 2017

Campbell

  • Khartoum (300 Orchard City Dr)
  • Kyoto Palace Japanese Steakhouse (1875 S Bascom Ave #2500)
  • Rock Bottom Brewery (1875 S Bascom Ave #700)

Cupertino

  • Search North Bayshore Homes for SaleRootstock Wine Bar (19389 Stevens Creek Blvd)
  • Steins Beer Garden (10088 N Wolfe Rd #130)
  • Whole Foods (20955 Stevens Creek Blvd)

Los Altos

  • Armadillo Willy's (1031 N San Antonio Rd)

Los Gatos

  • Cin Cin Wine Bar (368 Village Lane)
  • Grill 57 Bar & Restaurant (57 Los Gatos Saratoga Rd)
  • Jack Rose Libation House (18840 Saratoga)
  • Rootstock Wine Bar (217 N Santa Cruz)

Mountain View

  • Steins Beer Garden (895 Villa St)

Palo Alto

  • Pizzeria Delfina (651 Emerson St)

San Jose

  • 4th St Pizza (150 E Santa Clara St)
  • 55 South (55 S 1st St)
  • Armadillo Willy's (2071 Camden Ave)
  • City Lights Theater Co (529 S 2nd St)
  • The Farmers Union (151 W Santa Clara St)
  • Forager Tasting Room (420 S 1st St)
  • Hapa's Brewing Co (460 Lincoln Ave #90)
  • Jack's Bar & Lounge (167 E Taylor Ave)
  • Ludwig's German Table (261 N 2nd St)
  • Mexican Heritage Plaza (1700 Alum Rock Ave)
  • Mosaic Restaurant (211 S 1st St)
  • Nomiki (48 S 1st St)
  • O'Flaherty's Irish Pub (25 N San Pedro Sq)
  • Original Gravity (66 S 1st St)
  • Pizza California (1708 Oakland Rd #500)
  • Rose McCann's Irish Pub (355 Santana Row St #1060)
  • Sammy G's Pizzeria (330 S 10th St)
  • South Winchester BBQ (1362 S Winchester Blvd)
  • Stanley's Sports Bar (1500 S 10th St)
  • Uproar Brewing Co (439 S 1st St)
  • Whole Foods (777 The Alameda)
  • Willow Street Pizza (1072 Willow St)

Santa Clara

  • Asadero (2323 The Alameda)
  • Bourbon Pub (4900 Marie P Debartolo Way)
  • Golden State Brewery (1252 Memorex Dr)
  • Smoke Eaters (3175 Mission College Blvd)
  • Taplands (1171 Homestead Rd)
  • Whole Foods (2732 Augustine Dr #1600)

Sunnyvale

  • Armadillo Willy's (161 E El Camino Rea)
  • Faultline Brewing Co (1235 Oaklmead Pkwy)
  • Fibbar McGees (156 S Murphy Ave)
  • Nom Burger (251 W Washington Ave)

For a complete list of times, places and events, visit the Silicon Valley Beer Week 2017 schedule of events here.  Bring your ID (you must be at least 21 years old).  Make your transportation arrangements ahead of time.  Whether you choose a designated driver, a taxi or an Uber, have fun but be responsible.  We want everyone to get home safely.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

July 18, 2017

Silicon Valley Market Report - June 2017

The Silicon Valley remains a very good market for home sellers.  Already low inventory levels took an even bigger hit, within all areas covered in this Silicon Valley Market Report for June 2017. While Los Altos, San Jose, Santa Clara and Sunnyvale saw increases in their year-over-year sales, Cupertino and Mountain View sales decreased. The latter was down due to not enough homes to sell not a lack buyer demand. Silicon Valley Home Buyers are now paying above list price in every city we track for this report.

According to the Silicon Valley Market Report - June 2017, sales are up for the most part, prices are definitely higher and inventory levels hit even lower levels than ever before.

Cupertino Real Estate Market - June 2017

Thirty-nine homes were sold in Cupertino in June 2017, a 25% decrease from the 52 sold in June 2016.  The inventory also continues to tighten.  It went from one month in June 2016 to under two weeks supply in June 2017.  With this continued lack of new listings to sell, sale prices continue to increase month-over-month.  In June 2016, Cupertino Buyers paid an average of $1,700,616 (19.5% over list price).  In June 2017, they paid an average of $1,792,626 (8% over list price) with the average price-per-square-foot up to $1,024 (5% increase) compared to $975 in June 2016. 

Los Altos Real Estate Market - June 2017

Search North Bayshore Homes for SaleYear-over-year sales advance again in Los Altos.  A total of 49 homes were sold in Los Altos in June 2017, 6.5% higher than the 46 sold in June 2016.  Like much of the rest of the Silicon Valley real estate market, inventory levels remain low.  While June 2016's 0.9 months of inventory was already low, it dropped further in June 2017, to just 0.4 months available.  In June 2016, Los Altos Buyers paid an average of $2,771,565 (4.1% under list price).  In June 2017, they paid an average of $3,024,885 (1% over list price).  The increase in average price also brought the average price-per-square-foot up to $1,249 (9.2%) higher than June 2016.

Mountain View Real Estate Market - June 2017

Like the Silicon Valley community of Cupertino, year-over-year sales in Mountain View dropped off to not having enough homes to sell at the right price point.  A total of 48 Mountain View homes were sold in June 2017, a 26.2% decrease from the 65 sold in June 2016.  Inventory levels remained the same at 0.7 months available.  In June 2016, Mountain View Buyers paid an average of $1,364,885 (11.5% over list price).  In June 2017, they paid an average of $1,715,229 (a whopping 34% over list price).  This brought the average price-per-square-foot up to $1,058, 11.7% higher than June 2016 ($947 price-per-square-foot).

San Jose Real Estate Market - June 2017

San Jose home sales are up compared to last year.  A total of 910 San Jose homes were sold in June 2017, 4.1% more than the 874 sold in June 2016.  In June 2016, San Jose Buyers paid an average of $899,185 (0.7% under list price).  In June 2017, they paid an average of $963,358 (2.8% over list price).  This brought the average price-per-square-foot up to $600, 6.8% more than the $562 paid in June 2016. As Inventory continues to shrink to now just 0.6 months available, we expect total home sales to stay flat or even drop next month.  

Santa Clara Real Estate Market - June 2017

One hundred twenty-five (125) Santa Clara homes were sold in June 2017, 17.9% higher than the 106 sold in June 2016.  Much like the rest of the Silicon Valley communities of this market report, inventory fell to even lower depths.  It shrank from 1.1 months available in June 2016 to a mere 0.4 months available in June 2017.  In June 2016, Santa Clara Buyers paid an average of $985,131 (4.4% above list price).  In June 2017, they paid $1,133,773 (2% above list price).  This brought the average price-per-square-foot to $774, 10.1% higher than the $703 paid in June 2016.

Sunnyvale Real Estate Market - June 2017

Sunnyvale marked yet another Silicon Valley community that showed a higher year-over-year increase in sales.  A total of 101 Sunnyvale homes were sold in June 2017, 18.8% more than the 85 sold in June 2016.  It also now has the lowest inventory available out of every other Silicon Valley community in this market report.  Inventory levels dropped from one month available in June 2016 to just 0.3 available in June 2017.  In June 2016, Sunnyvale Buyers paid an average of $1,334,530 (6.3% above list price).  In June 2017, they paid $1,523,550 (20.1% above list price).  This brought the average price-per-square-foot up to $939, 11.7% higher than the $841 paid in June 2016.

What Buyers Need to Know

The biggest takeaway from my Silicon Valley Market Report for June 2017 is that residential real estate sales are very competitive and will stay competitive for the balance of 2017. It continues to tilt heavily in the Seller's favor.  Until inventory levels return to historical norms, it will most likely stay that way.  My best suggestion if you want to buy a Silicon Valley home start your home search by being lender pre-approved. Knowing your purchasing power is key to assure you’re looking at homes you can buy. Also be prepared to pay over asking as much as 20% in the more competitive communities with desirable schools or a short commute to job centers. Consult with your Silicon Valley REALTOR@ to determine what would be considered a strong yet fair offer.  For more helpful tips, please feel free to visit my Home Buying page.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate 

July 12, 2017

2017 Los Altos Summer Concert Series

Ah, summertime in Silicon Valley.  The weatherman predicts sunny skies every day this week.  Perfect weather for a free concert in the park.  Luckily, the 2017 Los Altos Summer Concert Series is going on right now.

Every Thursday through August 3rd, the 2017 Los Altos Summer Concert Series brings a different local band to a Silicon Valley park for free musical entertainment.

2017 Los Altos Summer Concert Series

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Currently, we are halfway through the 2017 Los Altos Summer Concert Series.  Every Thursday until August 3rd, a different local band plays at either Grant Park or Hillview Park at 6:30pm.  With temperatures hitting around the mid-70's at that time of the day, it's warm enough to enjoy but not so hot that you're uncomfortable.

Each one of the 2017 Los Altos Summer Concert Series performances comes from a local band.  Each week features a different musical style.  Guests enjoy jazz one week and old fashioned rock and roll the next.  And it's all provided absolutely free of charge.

Remaining 2017 Los Altos Summer Concert Series Line-Up

* Grant Park is located at 1575 Holt Ave
* Hillview Park is located on Hillview Ave & San Antonio Rd, next to the Community Center

  • July 13th, Hillview Soccer Field - The Blackouts (80's dance music)
  • July 20th, Grant Park - None Too Soon (Jazz)
  • July 27th, Hillview Soccer Field - Phil'N the Blanks (Rock 'N Roll)
  • August 3rd, Grant Park - Lyin' I's (Eagles Tribute Band)

Every single performance in the 2017 Los Altos Summer Concert Series begins at 6:30pm.  Arrive a little early to find a good spot to listen from.  Make sure you bring a blanket and/or lawn chairs for your comfort.  If you bring your pets, please keep them leashed for their safety as well as the safety of those around you.  It's great weather for a lovely picnic with friends and family.  When the concert is over, throw all your trash in the appointed receptacles around the park.  If they're full, take the trash home with you.  We want to keep our parks nice and clean for others to enjoy, too.

They say variety is the spice of life.  Pepper in a free concert in the park every Thursday through August 3rd.  Come to the 2017 Los Altos Summer Concert Series for your own spicy evening of free family-friendly fun.  Just one more reason life in Silicon Valley is so sweet.

StynesGroup Real Estate Services, your source for Silicon Valley Real Estate