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Silver Trusted Contributor
SamShuehRealtor
Posts: 914
Registered: ‎10-27-2008
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South Bay Neighborhood home $ SURPASSED all previous highest price

[ Edited ]

To be ACCURATE:

I look at the trend and avg the variances so home size and seasonal variation noise is greatly reduced:

    What is more important is the cost /sf gla.
    One has to pay $1,000/sf now in Pal Alto!  Good schools,jobs, strong interest from the Pacific Rim.
1. Palo Alto:    Dec 2012   avg sold $2,205,521 ($1046/sf)  vs   Last peak  was Mar 2007 $1,918,777 ($933/sf)
  
    Digress: Beijing metropolitan used condo fetches ~$425/sf avg, owner does not own land and one can barely breath there due to pollution. Some high rises do not even have elevator under 8 story tall. Hong Kong Victoria mid-height with a partial view (not best location) will cost US$6,000-9,000/sf. I have not yet covered downtown Tokyo yet. This is why you see so much interest from Pacific Rim and East India. We got FB, social media, Apple gurus not wanting to be left out. They like to live close to work.

2  Mtn View:  Dec 2012   avg sold $1,133,927  ($709/sf) vs   last peak Aug 2007   $1,150,677 ($694/sf)     

3. Los Altos, Los Altos Hill  Dec 2012 avg sold $2,165,616 ($838/sf) vs   last peak May 2007  $2,063,756 ($830/sf)

4. Menlo Park avg sold Nov 2012 avg sold was$1,361,646 ($795/sf) vs  last peak Jan 2008                         ($782/sf)

Other areas like better part of Sunnyvale and Cupertino are catching up fast. We will see them surpass previous peak in the next few months.
Sam Shueh
Keller Williams Realty-Cupertino

Gold Super Contributor
Jil
Posts: 3,113
Registered: ‎10-24-2011
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price

[ Edited ]

Can you please include about Morgan Hill data, whether positive or negative, it is fine?

Plenty of new developers and new construction at affordable prices..

I am just reviewing/concentrating the growth of the Morgan Hill.

Silver Trusted Contributor
SamShuehRealtor
Posts: 914
Registered: ‎10-27-2008
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price

MH:

Get on my website 

http://siliconvalleyrealtors.info/

 

left under BUYERS and log in then down load the 18 page pdf file. I will not call or contact you.

In a nut shell, all new listing prices have steeply increased the asking price. There are fewer

multiple offers than SJ.

Platinum Super Contributor
buyinghouse
Posts: 5,879
Registered: ‎04-23-2011
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price

  I told you, sprawling is on its way!

Silver Contributor
4rent
Posts: 540
Registered: ‎01-28-2011

Re: South Bay Neighborhood home $ SURPASSED all previous highest price

[ Edited ]

i am glad i decided to go against all bears with their doom predictions back in 2009-2012

I battled permabears mediaguru-lexa-mike_ - crazyman- OTH (for newbies u can dig my old posts) and placed my bets big time during those 3 years.  

 

Since then rents have skyrocketed, properties have gone up 25-30% and rates have dropped 1.5%...a perfect storm! Now its time to pop that champagne!

 

Platinum Super Contributor
buyinghouse
Posts: 5,879
Registered: ‎04-23-2011
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price


4rent wrote:

i am glad i decided to go against all bears with their doom predictions back in 2009-2012

I battled permabears mediaguru-lexa-mike_ - crazyman- OTH (for newbies u can dig my old posts) and placed my bets big time during those 3 years.  

 

Since then rents have skyrocketed, properties have gone up 25-30% and rates have dropped 1.5%...a perfect storm! Now its time to pop that champagne!

 


  Name place and time, we'll be there:smileyvery-happy:

  But I know, ain't gonna happen:smileyvery-happy:

Regular Contributor
Arcadia
Posts: 57
Registered: ‎05-31-2012
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price

Sam, great data.  Do any of your colleagues do the same analysis in East Bay for North Okaland / Rockridge / South Berkeley area?  Specifically zip codes 94618 and 94705?  I'd be very curious to see same type of analysis.

Silver Regular Contributor
sfsfr
Posts: 693
Registered: ‎04-15-2012
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price

[ Edited ]

4rent wrote:

i am glad i decided to go against all bears with their doom predictions back in 2009-2012

I battled permabears mediaguru-lexa-mike_ - crazyman- OTH (for newbies u can dig my old posts) and placed my bets big time during those 3 years.  

 

Since then rents have skyrocketed, properties have gone up 25-30% and rates have dropped 1.5%...a perfect storm! Now its time to pop that champagne!

 


Likewise, I listened to the bears for too long. It was good timing when my landlord raised my rent, because I ran the numbers and saw that buying had become a good deal. Then I looked at houses for sale and there were actually some houses I could afford that were not total crapshacks, unlike during the bubble. Had that not happened, I may have missed out buying before prices skyrocketed. Lesson learned, do the math yourself or get someone impartial to do it for you. Doom-and-gloomers are just as bad as the housing cheerleaders.

 

One regret is that I didn't discover Redfin a lot sooner. The listings on the other sites such as Zillow and Trulia are way out-of-whack.

 

Super Contributor
PoorOwner
Posts: 215
Registered: ‎10-08-2012
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price

[ Edited ]

I think it is location dependent.   I bought a property in alameda county end of 2004 is still 25% lower than the price I paid for it.  (2 just sold across the street so I have very good idea of comps)

 

The property did estimated to have appreciated 20% in 2007, so it is still about 40% lower than historic high.

 

Silver Regular Contributor
sfsfr
Posts: 693
Registered: ‎04-15-2012
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Re: South Bay Neighborhood home $ SURPASSED all previous highest price

I think the East Bay is a few months behind other areas, but is quickly catching up.