Predictions for Sunnyvale, Cupertino


#745

I am back in market starting this week looking for a place in Sunnyvale/MV. Joined a company lots of people talk about here and will have to move to South Bay. Can’t spent 2 hour in parking lot everyday.

Visited open house and talked to 4-5 agents today. All told me that price growth is cooling down. Some sound anxious. Saw max 2 more buyers during our stay at the open house. Looks like a good time to buy for those who can afford and were put off by the bidding wars.

Dont know about the area much so I would be relying on this thread.


#746

I started seeing more price drops in SVL.

Don’t know the area much, just a good sized lot (7500). It’s next to somewhat of a busy road (wolfe).


#747

I saw two drops in my neighborhood

Seller’s Greediness is coming down ! :rofl:


#748

When the price tag is over $2M, they are not really “drops”.


#749

they are, it means they are not getting crazy overbids etc.


#750

Drop in LP is real, Seller is accommodating market reaction as tomato stated here !

Drop in price, after 20 or 30 days, means seller did not get a single bid with that price !


#751

Finally this house went pending after very long time.


#752

it’s also contingent! not pending!


#753

Wow - that house ison super busy road.


#754

May or may not be the case. I have seen houses that dropped the listing pirce to create a bidding war, even though they got listing price as an offer. The expectations were higher than listing.


#755

For example this:

Ther’es no way the guy will sell at list price (check price history).


#756

Many moons ago, we discuss about some indications that the big guys such as AMZN announcing a second HQ, are moving away from Seattle and SV to other lower cost cities such as Atlanta, Austin and Denver. Also, we read about articles that the high cost of housing and living could backlash the growth in SV. Has anyone seen more indications on the ground? Please like this post if you see. You don’t need to be working for big guys to like, may be you have some friends that do. Thank you in advance.

If there are some indications, I view it to be consistent with what you guys are observing. Hot (smart?) money may be moving quietly away. Of course, myo and me are the visionary ones who foresee the development few years ago. However, we may be a little early and it is still early if we can see some indications. The flood won’t be here till some (5? 10?) years away, so still plenty of time to liquidate RE in SV and jump ships to… Atlanta, Austin Denver, Raleigh, Nashville,… any hot tips?


#757

Liquidate in SV and jump ship to Antioch.


#758

There is not enough STEM graduates there. Have you seen many? Is there a well known university there?
I need real information from the guys on the ground before I go all-out investing in those areas. Go where the pluck is going. We need to invest in cities that have many young folks especially STEM graduates.


#759

You need STEM, stay in SV. You need cash flow, go to Antioch. No need to go anywhere else.


#760

Cost is too high. Seattle is a strong 2nd. Now we need a strong 3rd with a well-known university, low cost of housing that can’t be easily jacked up because of lack of land for developing new houses or draconian city regulations, and good infrastructure (no f… jams).


#761

Now if we buy, What cap rate possible in Antioch?


#762

No sure these days anymore. Price kept increasing…


#763

@tomato, you wanted a deal, probate, here you go


#764

I have seen 2 drops in Foster City too in last month. Very unusual for the place. But things are still moving.

The expect the yoy increases to slow down and market to start cooling. Home prices will keep increasing but not with the same pace. To bring them down we need a job loss event as a catalyst. I don’t see one around the corner.