In the first and second quarters of 2022 Cupertino house prices reached an all-time high as buyers purchased before an expected interest rate increase. Prices then dropped until the first quarter of 2023. Then, even during a year of interest rate increases, house prices have risen from their fourth-quarter 2022 low back to their all-time high in Cupertino. Cupertino real estate and Saratoga real estate are showing the greatest recent strength in Silicon Valley.The Silicon Valley real estate market is…
Recently JLee Realty began plotting median days on market in addition to average days on market for homes for sale. The median plot emphasizes the change that began around 2012. The median days on market stays very low with only occasional bumps up. The average dom has been trending down over this period and thus the change is that fewer homes deviate from the median. View Cupertino real estate.
Tech employment was reported to be up by 2% at the peak of the pandemic layoffs (2nd qtr 2020). In contrast, employment in arts, entertainment and personal services was down by more than 50%.More Silicon Valley companies went public last year (24) than in any of the last 14 years. Silicon Valley startups received $26.4 billion in venture capital, the highest amount since the 2000 end of the dot-com boom.Silicon Valley real estate trends will have to be watched to…
Proposition 19, takes effect on April 1, 2021. It is estimated to increase tax revenue overall. It increases taxes on inherited properties that are used as either a second home or as income properties. It provides more opportunities to save taxes on primary residence replacements.More information is available about Proposition 19 and about California property taxes.
For many years there has been an interesting challenge going on between potential home buyers and real estate agents listing a home for sale on behalf of a homeowner. Potential buyers will approach the listing agent and want that agent to also represent them to make an offer to purchase the home.The potential buyer may be thinking that they will be more likely to succeed with their purchase offer because the listing agent knows what the seller wants or they…
In Silicon Valley, multiple offers to purchase a home are often received within a short time period. A seller cannot respond to multiple offers by sending a simple counteroffer to each potential buyer. The seller needs to make a "multiple counter offer". The seller may choose to send a "multiple counter offer" to some or all of the potential buyers.Our local Association of Realtors has standard forms which are normally used by the seller.
In the first and second quarters of 2022 Cupertino house prices reached an all-time high as buyers purchased before an expected interest rate increase. Prices then dropped until the first quarter of 2023. Then, even during a year of interest rate increases, house prices have risen from their fourth-quarter 2022 low back to their all-time high in Cupertino. Cupertino real estate and Saratoga real estate are showing the greatest recent strength in Silicon Valley.
The Silicon Valley real estate market is surprising many with its strength. High interest rates discourage new construction. Many buyers are predicting that now is their best time to buy.
