Silicon Valley Realtorl-intro from Sam Shueh

[Sam Shueh]

I am a Ft realtor working in South San Francisco Bay for over 10+ years.  After doing property management, remodeling and raise a family in 2005 I went FT as an extension what I enjoyed doing which is helping others solving their problems.   I am based in Campbell-San Jose and know the entire South Bay and Peninsula.   I hope BP will allow me to introduce me more about my work during the recovery phase of the Great Recession.

I look forward to hear more from you.

Sam Shueh, Silicon Valley, CA

[Sam Shueh]

If you can get on my blogs on ActiveRain, a site for realtors. For South Bay I have it analyzed each neighborhood quarterly. The % of growth has shrink to single digit from double % since Q1 2012. The exception is people move to a lower priced neighborhood from job centers and to Central SJ and Milpitas.  Also Morgan Hill and Gilroy enjoyed at crazy 15%+ appreciation.  Empty open houses in Cupertino, Santa Clara (longer time taking homes to sell).  Evergreen neighborhood of east SJ seems to follow the same pattern taking longer to sell and higher prices than other neighborhoods...

The reason is simple. Affordability. It takes $200K income to afford a modest 3/2/1400 sf  home in better school west SJ.  $150K income to get a 1.1M townhomes in west side of San Jose.  If employees from Google, FB are looking at Newark, Hayward that means soon people will return to Tracy, Los Banos again. 

The home prices in SF county is ridiculously overpriced. It already saw a modest price erosion. Rent is priced so high that there are no takers.

Elsewhere, in the middle 90s I heard Gilroy home prices shot through the roof with 35% yearly appreciation. Conventional wisdom tells me it was not sustainable. It dropped 55% during the trough years with 50 months of inventory. Now there is a shortage of housing again. Gilroy just barely regrouped its historical price(see my ActiveRain blog posted) after 4 years of sustained growth.

To push up the demand there got to have more highly compensated jobs fueled by VC seeded money.  With local HP, Yahoo, Yelp, semi conductor companies, and IBM layoffs. It is not all that rosy. The question is how long will the home prices to be flatten out and when the million dollar modest homes be worth less when the local economy can not not support it?  It will start with the largest employer like AAPL whether iWatch, iPad updates, iPhone products will really keep overstaffed employees busy forever. 

Hope that helps

Sam Shueh

Silicon Valley, CA