AUGUST IS HOT, HOT, HOT!!!

by / Thursday, 18 August 2016 / Published in News Letters
GREETINGS!
 
HOT…. as in the hottest temps of the summer.  Keep windows closed and blinds down if you don’t have A/C and want your home to stay cooler…. and consider extra or more effective ceiling insulation – well worth the money.
HOT… as in the absolutely fantastic San Jose Jazz Festival that just concluded its three-day run in downtown San Jose.  Lots of New Orleans and Latin influences this year… if you missed it, make plans to attend in 2017.
HOT…. as in the salsa you should be making right about now from your homegrown tomatoes.
HOT… as in the Summer Olympics and the many wonderful athletes from around the world competing with hearts and minds focused on the finish line.
HOT….. as in our Bay Area housing market, although we are seeing a continuing cooling off as summer comes to a close.  A few more price reductions, and list prices starting very close to spot-on with regards to actual market value.
HOT…. as in the kind of referrals we are looking for from you….sellers or buyers that are really ready to enter the market and make a real estate transaction happen.
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NEWS YOU CAN USE:
 
Affordability continues to be an issue for lower and middle-income earners in our Valley – service workers, teachers, police, firefighters, etc. and even entry-level tech employees are beginning to travel long distances again in order to purchase a home.  That has increased prices in Hollister, Morgan Hill, Gilroy and even Salinas.  BART and CalTrain have just become grantees from some of the cap and trade income in California, and despite some opposition, it looks like high speed rail will eventually be built, with ongoing discussions as to whether stations and crossings should be above or below ground.  
As we listen to our clients’ concerns regarding living in the Bay Area, and especially in the San Jose area, affordability and transportation issues are uppermost in their minds.  Many have maps with many overlays that indicate ride distances and times in commute and off-commute hours between each city and their work locations, and that is the first checkpoint in choosing a property.
For the first time in a long time, the Bay Area lost more citizens through moving away than we gained in people moving into the area.  If that trend continues, we may see reductions in city/county services as sales tax revenue falls.  The fight to ensure more housing for all income levels escalates each year, and we should all be paying close attention to the bigger picture.
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Finally…. here is a good illustration of the connection most homeowners feel for their neighborhood and community.  We know from many studies that a stable, happy homeowner base means continual growth and improvement in a city, just another reason to ensure that all income levels are able to purchase.
august-2016
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We have over 15 years of experience in real estate in Silicon Valley, coupled with Nick’s legal background and Barbara’s expertise in marketing. We depend on the goodwill of our clients, and we are never too busy for your referrals.  Please tell your friends about our thoughtful, value-added, and personal attention approach to real estate representation.

 We’ll be back next month or so, with another Real Estate Update.  In the meantime, enjoy the summer!

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