Silicon Valley Aerial Pictures

San Andreas Fault curtsey from www.about.com 

“

Silicon Valley is alive and well!” Carole Rodoni, a highly regarded speaker, author in San Francisco Bay Area real estate industry, she announced at 9/26/07 Los Gatos/Saratoga Tour Meeting. The former president and COO of Alain Pinel Realtors, who is now president of Bamboo Consulting.  “Unlike other areas in the state,

Silicon Valley has everything going for it. There’s great diversity of employment, this area is financially stable, and our economic numbers look best in the nation,” Rodoni said. “We are the gateway to the Pacific Rim for emerging markets like

China. Economic-wise, we are looking at a very positive picture, which will help, despite the cooling housing picture we are facing.” 

“We are in a housing correction, with a cooling market that will most likely continue through 2008,” said Rodoni. “It’s a normal real estate process. We’ve seen real estate go up and down. This time, it will last longer because we’ve seen a seller’s market, which normally lasts 18 months, extend to over five years.”  “For

Silicon Valley, however, the market correction will not spell disaster. The market is cooling, but we are fortunate because this area’s share of subprime lending is small. Some lenders are demanding 700 to 800 FICA scores. Forget the zero down - 10 to 25 percent down, maybe. Expect conservative appraisals and lots of verification and documentation”. She said sellers also need to be flexible in price, unless they want to face a variety of inspections, loan contingencies and more concessions. In this type of market, if they choose to wait it out, they need to assume that the price of their property will decline.  At least for the near future, Rodoni predicted the Valley will most likely have “a flat market that’s holding decent, with a lot of uncertainty. … It’s not a disaster. We will get through this because it’s God’s earth, and everyone wants to live here.” You can find more details in http://www.communitynewspapers.com/los_gatos/homes1.shtml

 

Silicon Valley Real Estate Market

 

The HIF Benefit Committee of SILVAR, will hold the 10^th annual Home for the fundraiser on Thursday October 18^th from 5:30 to 10:30 at the Avalon Nightclub in

Santa Clara. Home for the Holidays features a Halloween theme with a gourmet buffet, live and silent auctions, a raffle, live music, dancing, fortune telling and other fun stuff. I went a couple years in past. It is a fun and charity event.    The proceed will help the needed families of Santa Clara and

San Mateo counties. From http://www.hifinfo.org explains more in details: “ HIF’s emergency housing grants are a homeless prevention program. In collaboration with a network of social services agencies, HIF makes grants of up to $1,000 to low-income individuals and families threatened with homelessness or uninhabitable conditions. These grants may be used for a variety of housing expenses, including rent, mortgage, utilities and certain repairs. The situation must be due to a recent unforeseen emergency and the clients must demonstrate their ability to meet future expenses once the grant is received.”

It is a good example of the members  from our Silicon Valley Realtors Association do care for the local residents.

 

Silicon Valley realtors