People renting out their condo in my complex is also around $2800+ being so close to shops like Target and Trader Joe's...and rumors of google moving in next door and being next to a major transportation HUB, the prices are justified here in Silicon Valley.So my question is, is it a bad idea or is it even possible to obtain a HELOC to obtain a 20% down on a new "move-up" home?

There are always deals in every market at any time including New York, Manhattan or the Silicon Valley.

Among those w/ bachelor's degrees, the median guy in Silicon Valley makes 61% more than the median woman.  61% would certainly make the difference between getting by and having a surplus for most people I know.)  

Most of my full time career has been spent with Vans where I direct a global footwear business unit.

The workmanship on the trim boards--yikes; the just don't give a #### big space at one end and the what appears to be black bathroom (possibly non-paintable silicone at the other end, and a quarter round abutting the mis-sized piece.This certainly does not live up to may standards, but I have seem similar in run down class C SFH's, in Texas.Supervise your workers and be specific about the type of workmanship you want and the parts you want used...Just replace the trim boards, can sometimes get you this cheapy looking result (no excuse for using that mis-cut piece though or the black silcone looking stuff).And the darker grey wall appears crooked(???)

For example, silicon valley.Yes, the jobs there pay more.. but when it costs several million to get the kind of house I'm used to picking up for under 500 here, those jobs are actually a step down.

Time is money in Silicon Valley and buyers do not have time to do the rehab themselves.  

Hi @Kyle Lush,I live in Silicon Valley, and I'm an investment advisor who specializes in real estate.

That corner shared a wall with the guest bathroom and shower.When we looked into the shower, there was that section of grouting that we sealed over with clear silicon (like I had told you previously).

I could speculate that it's because THEY are speculating about the disconcerting Silicon Valley VC news, but I cannot prove that.