The southern portion of California's Bay Area is home to Silicon Valley. More than anywhere in the world, this famous region is synonymous with technology. In addition to tech giants, Silicon Valley is also home to numerous luxury estates and other lovely real estate properties. Depending upon property location and house design, homes are on the market listed at prices as low as 100,000 dollars and as high as 30 million plus. Recent happenings in the housing market have forced thousands of homes into foreclosure, and numerous layoffs from neighboring companies have caused many homeowners to list their homes in the hopes of a quick sale.

More than any other time in history, the Silicon Valley real estate market is now a buyer's market. Over most of last year average home prices fell steadily before leveling off in the latter months. Recent data suggests that the list prices of homes are increasing, but the truth is that sales are still low, and expected to drop even more. With over five thousand homes in different stages of foreclosure - auction or pre-foreclosure, for example - the market is flooded with opportunities for the smart investor. With the right knowledge, and an agent who knows where the best deals are, the time is right to make unbelievable purchases.

Overall, the median sales price of a home in Silicon Valley is still two percent lower than January of 2010 at around $460,000. Resale home prices actually increased, however. The number of homes sold dropped nearly eleven percent from last year. These slow sales figures suggest that many homeowners may consider negotiating the price of their property in the hopes of selling it. Numerous short sale homes may be listed for a lower than average price, as homeowners and banks try to sell them before they fall into foreclosure. These homes may be difficult to find without a real estate agent, however.

Foreclosed homes are another great opportunity for investors. As lenders look to recoup their losses, the prices of properties in foreclosure are lower than ever. The market generally picks up in the spring and summer months, and figures show that homes sold in these months sell for four percent more than other periods. Purchasing real estate prior to spring may pay off as the warmer weather rolls around. Most experts agree that the real estate market will pick up eventually, and taking place of the buyer's market currently available in Silicon Valley can pay off tremendously in the future. It's an investment worth making.

Once you approach the reality of foreclosure on your Silicon Valley home, you may be wondering if there is truly a reliable way to avoid foreclosure. You will be eager to learn that there is! In fact, there are three completely different ways you can avoid it. Each should be considered before you choose one or the other. Also, it is wise to get in touch with a lawyer, an accountant, and a real estate agent to discuss your legal rights, the taxes and other kinds of money involved, and other aspects to do with your home. Hopefully, these three ideas will give you what you need to avoid foreclosure.

The first idea is to file for bankruptcy. This will be the most beneficial to you with the help of a bankruptcy lawyer. This option gives you more time to repay your debt and excuses some debt altogether. Whatever decision is made in court must be met by you. If you fail to do so, the lender may continue with the foreclosure of your home. While bankruptcy is an option open to everyone, it should be a last resort to avoid losing your home. There are two other options that will have a far lesser effect on your credit while still allowing you to avoid foreclosure.

Next is the option to sell your house. Before foreclosure becomes unavoidable, you can choose to sell in order to avoid foreclosure and use the earnings from the sale to pay your lender. To help you accomplish this, you will need to contact a good real estate agent in Silicon Valley so you can get the most for your home and possibly even make a profit after paying your debt. The best way to make a larger profit is to fix up your home before putting it on the market.

If you are too close to foreclosure to be able to take your time selling a home on the regular real estate market, you can short sell your home to avoid foreclosure. Of course, short selling means you will sell your home for less than it is worth just to get it sold quickly. To be successful, again you should be in close touch with a Silicon Valley real estate agent who knows about potential buyers and can get your home sold quickly. Clearly, there are ways you can avoid foreclosure if you simply know where to turn.

To learn more about Silicon Valley Real Estate, you can view all Silicon Valley Foreclosures and Silicon Valley Short Sale Listings.

Real estate is a market that tends to be ever-changing. Earlier in 2010, things appeared to be either frozen or declining on the nationwide housing market. This is discouraging because the spring and summer months are usually booming when it comes to housing sales. However, since the 2007 housing crisis, the market has never fully recovered. However, Silicon Valley real estate is making a strong comeback. Perhaps the naturally warmer temperatures of the area are having an effect on the market that so desperately needs a boost in this dreary market.

It looks like the extremes seen in Silicon Valley real estate a few years ago are mellowing out now. From 2000 to this point in 2010, how far has the Silicon Valley real estate market come? Well, there have been ups and downs, but it pretty much has come full circle. In the year 2000, the amounts of closed sales on homes in Santa Clara County were 4% higher than they were this year. Also, selling prices in 2000 were 3% lower than they are now in 2010. The spikes in sales that have been seen within the decade were the result of natural market cycles that peak in the warm months and dip in the colder winter months.

While many changes have occurred to the Silicon Valley real estate market in the past 10 years, what is closest to buyers' and sellers' hearts is the housing crisis that reached its low point in late 2008 into early 2009. However, because of the areas strong economy, its recovery rate has been better than many other parts of the country. If the economy continues on the incline that it is in Silicon Valley, it could switch into a seller's market before long. However, sales numbers are only one part of the market's recovery, and other areas are still down.

Another facet that is taken into consideration is the average number of days on the market, or DOM, before a home is sold. In 2000, Silicon Valley real estate was only on the market an average of 15-20 days. The DOM increased and fluctuated until it reached record selling pace again in 2005. Since then, a steady increase in DOM has been seen until it peaked in 2009 at more than 100 days spent on the market on average before being sold or simply taken off the market by sellers. Recovery is visible, though, as these numbers are decreasing into 2010, now with an average DOM of about 65.

Don Orason

Silicon Valley Real Estate Team

There are many things about San Jose real estate that you will want to know before you begin getting serious about the homes for sale there. As of October 2010, there are specific price trends, demand trends, total inventory of homes, and market conditions that you should educate yourself about. This will help you know when and where to buy your first or next home in San Jose, California.

Prices on homes for San Jose real estate are looking very good right now. In November of last year, prices were a bit steep at a median of $540,000 as opposed to just under $500,000 now for an identical home. Keep in mind that “median” is not the same as “average.” In real estate, medians are generally used instead of averages because a few high-end homes can skew the numbers significantly. By calculating the median, or midpoint, a more accurate representation of local housing prices is given.

The demand for homes raised and lowered a bit from January to May of this year. In May, the demand for house skyrocketed in the popular spring buying time as the average number of days on the market plummeted from 150 days to about 80. Since then, the number of days that San Jose real estate stays on the market before being sold has leveled out at about 100.

The amount of “inventory” simply means the amount of San Jose real estate that is for sale. When the inventory is higher, there is a great supply for buyers to choose from, allowing them to have a greater say in setting the price. The number of homes for sale in San Jose has been climbing steadily since mid January of this year. Then there were 1,500 homes for sale and as of October 3, 2010, 2,858 homes were for sale.

The San Jose market conditions have been heading steadily in one direction since January of this year. By taking median price, inventory levels and days on the market into consideration, it is possible to calculate what kind of market it is. Currently, listed homes can last for several months on the market while maintaining a current sale rate. This is called a “cold market” or a buyer’s market. In markets like this, prices are bound to fall and buyers can negotiate lower prices. This means if you are interested in investing in San Jose real estate, now is the time to do so!

Don Orason

Silicon Valley Real Estate Team

Silicon Valley Real Estate

Silicon Valley is located in Northern California, and sits in the southern part of the San
Francisco area. The once sleepy valley started to thrive in the 1940's and 1950's when
many graduates and faculty from Stanford University started their own companies, with
the encouragement of Stanford's Dean of Engineering. The area began to grow with
technology companies and high-tech firms springing up everywhere. Companies like
Hewlett-Packard, Bell Telephone Labs, Xerox, and Fairfield Semiconductor led the way
for many more companies to come there. Silicon Valley developed the microprocessor and
the microcomputer which encouraged talented scientists, engineers and venture capitalists
to move into the area. Interest from the U.S. Navy, already in the area, led to aerospace
firms like Lockheed locating here. In the 1970's with the explosion in the computer
industry, Silicon Valley also exploded with the growth of companies like Apple and
Microsoft. The result by 2006, Silicon Valley was the third largest high-tech center in the
United States, creating more than 225,000 high-tech jobs. Homes for sale in Silicon Valley
over the last ten years have increased significantly to meet these requirements.

Rapid growth over the last thiry years has drawn people into Silicon Valley looking for
employment, and of course, homes. Silicon Valley real estate has flourished with new
families moving here and new developments going up. Homes for sale in Silicon Valley
have become a hot commodity with rising Silicon Valley home values. The Silicon Valley
encompasses a large area, with cities like Los Altos, Los Gatos, Mountain View, Palo
Alto, San Jose, Santa Clara, Sunnyvale, and others. Though on the outskirts, areas like
San Mateo County, Alameda County and Santa Cruz County are often thought of as part
of the Silicon Valley.

In addition to the high-tech job market, people are drawn to Silicon Valley because of
several major universities like Stanford University in Palo Alto, San Jose State University
in San Jose, and Santa Clara University in Santa Clara County. Faculty, employees and students
come to Silicon Valley in record numbers, and housing needs must be accommodated.
Silicon Valley home values in these areas are competitive, and Silicon Valley real estate
here is in high demand because of the university populations.

The temperature is pleasant all year in Silicon Valley, never too hot or too cold. It's a
great place to enjoy the outdoors. Hiking, boating, swimming, cycling and horseback
riding are popular activities with stables, trails and picturesque parks found in every city.
There are vineyards offering tours, wine tasting, and relaxing afternoons. Restaurants,
nightlife, museums, theme parks, and golf courses are abundant in Silicon Valley. There is
a lot to do here in this high-tech valley that is not just high-tech. Silicon Valley attracts
families, singles, job-seekers, and students, and has something to offer everyone. Silicon
Valley real estate is still in great demand. Silicon Valley home values are still good in
today's economy, and employment in the area is steady. Homes for sale in Silicon Valley
are still competitively priced, and there are many beautiful areas to see.

If you need ANY information regarding Silicon Valley Real Estate and Homes for sale.
Contact the Silicon Valley Real Estate Team - "Helping You Make Good Real Estate Decisions"
408-833-6331