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Small Homes Bring Big Bucks in Silicon Valley

Modest-sized homes (even on tiny lots) are selling for a LOT of money these days in the Bay Area. Now more than ever, it's all about "location, location, location!" As the demand for homes skyrockets in these coveted areas just outside San Francisco, bidding wars ensue - and the result is housing prices upwards of $1000 per square foot.In trendy neighborhoods like Oakland's Rockridge district, and the ever-popular Palo Alto area, wealthy people from the Bay Area's booming tech industry are competing with the buyers from overseas to snap up any available properties. An agent for Sotheby's International Realty states that they are seeing "a lot of the money from China," as the wealthy elite seek good investments outside the restrictions of their country.In Cupertino, home of Apple's headquarters, a 2BR/1BA, 1100 sq. ft. house just sold for over $1.3M; the existing house is slated to be torn down and a 5000 sq. ft. house will be built on the lot instead. Berkeley has also seen similar growth, although some experts say they expect to see the market slow down in the East Bay as buyers finally start to resist the inflated prices. Palo Alto, however, shows no signs of slowing down; mansions and larger estates have been selling for between $10-20M!If you own even a small house or piece of property in one of these booming neighborhoods, this is a great opportunity to make a big return on your investment! And if you're one of the many potential buyers vying for someplace to call your own, don't despair - contact me today to learn about some of the hidden gems that are still available in the Silicon Valley real estate market. You can call me at (408) 605-8741 or email me at, or connect with me directly through my website using my Contact page.

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