“With summer now in full swing, the Bay Area’s luxury market is as hot as the weather. Several Coldwell Banker Previews luxury market reports have come out over the past week, and nearly all are pointing to a robust housing market – especially in the high-end.”
We made another Top 10 list recently, and like all the Top 10s I’ve reported on, this one has baggage. We only came in seventh this time, not even a podium finish, but I still think it’s worth noting.
Buyer alert! The market is still cooling at the edges! Yet prices are still going up! But wait! I can explain!
According to the latest survey, 46% of home buyers want homes with smart home technology, 51% of home owners might install smart home technology to make their home more appealing to future buyers, and 102% of Silicon Valley home buyers want a home smarter than their smartest engineering professor. I’m not making this up.
“If we needed further proof of just how hot the Bay Area housing market is, Realtor.com just released a study that shows four of six of the ‘hottest markets’ in the nation for homebuyers and sellers are located in our region.”
If you’re not convinced that sellers rule Silicon Valley’s real estate market, I’ll give you two examples of sellers who recovered nicely from what in any other market would have been fatal mistakes.
There’s a challenging array of mortgage “products” out there. The mortgage process itself is challenging. And the closing process is challenging. So why shouldn’t many first-time home buyers feel challenged?
Read enough real estate flyers, and pretty soon you’ll figure out that there are two types of homes here in Silicon Valley.