Silicon Valley Real Estate Blog - 1SiliconValley.com

From our Geography lessons and possibly from our travels, we know that Bordeaux is a very well toured port city in the southwest of France with over 1 Million Bordelais inhabitants and is proud to be known as the world’s wine industry capital. 

It is a diverse city with makeup of all different races and cultures of people and over the last decade has become an urban metropolis.  If you live here in the Bay Area you don’t have to travel to France to visit the newest community named Bordeaux; it is located in the heart of Santa Clara County , in the urban setting of Sunnyvale.  Like Bordeaux France, Sunnyvale is known to be a diverse and culturally varied city with neighboring industry and a rich past of agricultural history.  Perhaps this is how the name of the newest KB Homes community was formed, because of this vague likeness shared with the city of the same name.

Continue Reading »

Apr.14.2008 [ Filed under: Sunnyvale ] Comment Here »

For families interested in Sunnyvale schools, the numbers are 900 and 901.  Those were the API scores for Sunnyvale’s Cherry Chase Elementary and Cumberland Elementary, the highest-rated schools in the Sunnyvale Elementary School District according to 2007’s API growth report. 

Cumberland joined Silicon Valley’s elite schools with 900 or above API scores this year with its 36 point increase.

As you might expect, homes in Sunnyvale that feed into Cumberland and Cherry Chase are more expensive than those that feed into Sunnyvale schools with lower test scores.  Here are some benchmark 3 bedroom, 2 bathroom homes that closed in the last two months, with their schools and API scores:

	$975,000 - 1144 Lynn Way 3br/2ba; 1272 sqft ($766 per) on 6098 sqft lot; 52 years old Cherry Chase (900) / Sunnyvale Middle (797) / Homestead High (838)
	$890,000 - 214 Clarence Ave. 3br/2ba; 1365 sqft ($652 per) on 5663 sqft lot; 51 years old Cumberland (901) / Sunnyvale Middle (797) / Homestead High (838)
	$766,000 - 426 S. Mary Ave. 3br/2ba; 1552 sqft ($493 per) on 5227 sqft lot; 53 years old Vargas (730) / Sunnyvale Middle (797) / Homestead High (838)
	$715,000 - 750 Carolina Ave. 3br/2ba; 1304 sqft ($548 per) on 6318 sqft lot; 54 years old Bishop (733) / Columbia Middle (712) / Fremont High (709)
	$667,000 - 465 Wilson Ave. 3br/2ba; 1100 sqft ($606 per) on 5227 sqft lot; 57 years old Ellis (816) / Sunnyvale Middle (797) / Fremont High (709)

(I was careful to ensure that the benchmark homes were all comparables — recently remodeled with similar upgrades and of about the same size and age — so the premiums can be ballparked using the per square foot price.  Mary is a main road which may have detracted from its home’s value somewhat.)

As you can see from the benchmark homes, Cherry Chase Elementary and its reputation have been built into real estate values.  Cumberland Elementary doesn’t have that same premium because it has been on the rise, from 845 in 2003.

Another steadily improving school is Ellis Elementary, up from its 773 in 2005 (though slightly below last year’s 822).  It could represent a good deal for young families who plan to upgrade after elementary or middle school.  And people not wanting to pay a premium for schools might consider the other representative homes.

But Sunnyvale Elementary isn’t the only elementary school district in Sunnyvale.  Because of the complexity in the way school district border lines are drawn, students in a large part of Sunnyvale actually attend schools in the Cupertino Union School District.  How much opportunity is there in the overlap?

Continue Reading »

Oct.24.2007 [ Filed under: Sunnyvale ] 4 Comments »

It was a case of home owners sitting out the market.  New listings of single-family homes in Sunnyvale were at a 10-year low in August, dropping from 107 in August 2006, to 79 this year.  In fact, total inventory levels also dropped slightly, from 130 single-family homes to 127 over the same period.

Sunnyvale’s average number of new listings during the month over the last ten years is 105 and it’s an illustration of why real estate is local.  National news headlines from around the country correctly talk about aggregate numbers that are lower because of deflating markets — and many Silicon Valley home owners here who might have considered listing their homes, but could afford to wait, sat out.

But ultimately, real estate is about location, supply, and demand.  And while supplies were down, demand was actually both "normal" and "up".  The ratio of closed transactions to new listings in August 2007 was 73%.  The 10-year average is 74% and it was 58% last year.  How did that increase manifest itself?  Besides a fourth consecutive year of over-asking closing prices in single-family homes, have a look at the difference in the cost of Median Homes year-over-year.

[ Median Home 2007, 2006 | Market Snapshot | How Much Home Can I Get? ]

Continue Reading »

Sep.07.2007 [ Filed under: Sunnyvale, Market Updates ] Comment Here »

Belmont Terrace is a 158-unit townhome complex in Sunnyvale, which like its neighbor the Expressions of Sunnyvale, is located to the south of Central Expressway and west of Mathilda Ave., towards Mary Ave.  It’s across the street from the Gardens of Sunnyvale townhomes.

[ Strengths | Weaknesses | Opportunities | Threats ]
[ Recent Transactions | Neighborhood Transactions | Schools | Map ]
[ What’s Available in the Area | Other Notes ]

Continue Reading »

Sep.03.2007 [ Filed under: Sunnyvale ] Comment Here »

The City of Sunnyvale released its 2007 Resident Satisfaction Survey, which highlighted that 93% of respondents felt that Sunnyvale was a good or excellent place to live.  84% thought the same of their neighborhood.  This chart was taken directly from the PDF document which Sunnyvale provides from the National Research Center.

I thought it was interesting that those folks in the 9% difference didn't like where they were living all that much, but still liked Sunnyvale as a whole.  (Usually people who don't like one prefer their neighborhoods over city itself.)

That satisfaction rating puts Sunnyvale in the 81st percentile nationwide.  Not bad.  People didn't think highly of the city as a place to retire (26th percentile) or — shockingly — as a place with access to "affordable quality housing" (24th percentile).  It is the "Heart of Silicon Valley" after all.

But where Sunnyvale excelled in the survey was in "openness and acceptance towards people of diverse backgrounds" (95th percentile), "quality of police services" (93rd percentile), and value for tax money spent (94th percentile).

Aug.25.2007 [ Filed under: Silicon Valley News, Sunnyvale ] Comment Here »

The Expressions of Sunnyvale is a gated townhome and condominium community just south of Central Expressway and east of Mary Ave, neighboring the Gardens of Sunnyvale complex at La Mesa Terrace and the Belmont Terrace townhomes. 

Two townhomes recently went pending at the Expressions of Sunnyvale, one on Asilomar Terrace (closing August 31) and one on Alpine Terrace (closing August 27). 

View my complete notes on the Expressions of Sunnyvale neighborhood, or jump directly to its:

[ Strengths | Weaknesses | Threats | Opportunities ]
[ Recent Transactions | Neighborhood Transactions | Schools | Location and Commute ]
[ Available Townhomes and Condominiums in the Area ]

Aug.19.2007 [ Filed under: Sunnyvale ] Comment Here »

The long-awaited tear down of Sunnyvale Town Center's main building, in favor of building a more open and walkable layout, has begun.  Target and Macy's are open during this deconstruction effort but the parking lot in front of the west side Macy's entrance is currently closed.  You can find more information about Sunnyvale's revitalization plans in the Sunnyvale neighborhood section.  Pictures below.

Continue Reading »

May.15.2007 [ Filed under: Sunnyvale ] Comment Here »

One Macy's, one Target and one very unused shopping mall on 25 acres of prime downtown real estate.  The City of Sunnyvale approved the demolition of the long-shuttered Sunnyvale Town Center Mall not long after Friday sale of the 25-acre site to Downtown Sunnyvale Mixed Use LLC, a partnership between real estate investment manager RREEF and Sand Hill Properties (see my previous article Downtown Sunnyvale Revitalization Gets Desperately Needed Kickstart).

Bolstered by the recent success of the Vallco Mall re-branding to Cupertino Square, the downtown Sunnyvale project includes the creation of a "Redwood Square" which features the six stalwart redwood trees whose preservation is a critical component of the new revitalization. 

The complete redevelopment area includes (basically) the area enclosed by Mathilda, El Camino Real, Carroll, and Evelyn.  Macy's and Target will remain open during the process, and a new single-story Target built above a parking structure is planned to replace the current double-decker Target.  No word yet on what kids in the store will do for fun without the shopping cart escalator.

Apr.29.2007 [ Filed under: Silicon Valley News, Sunnyvale ] 1 Comment »

Yesterday we looked at Cupertino home prices, how there were opportunities in the townhome and condo market, and how the premiums over the Santa Clara County average are at a 10-year low.

But for people looking for their own freestanding single-family home with a nice backyard and a safe neighborhood, the numbers say there's another opportunity to be had, in Cupertino's neighboring city, Sunnyvale.

From 2000 to 2006, Sunnyvale ranked in the top 25 overall safest cities (out of 315) in America according to the private research firm Morgan Quinto.  No other city in Silicon Valley can claim that distinction (though it's also interesting to note that San Jose consistently places in the top 10 safest cities with a population of 500,000 or more.)

The challenge with Sunnyvale is that it doesn't have the hipness factor of Mountain View or the education credentials of Cupertino (even though their school districts overlap in many places). 

What it does have, though, is a first in the last decade: a year-over-year price drop that brings Sunnyvale homes in line with the Santa Clara County average.  That means no price premium to live in a Silicon Valley city that's consistently rated as one of the safest in America.

Continue Reading »

Apr.24.2007 [ Filed under: Sunnyvale, Market Updates ] Comment Here »

The California Department of Education (CDE) just released the recipients of its California Distinguished Schools award, which honors the "exemplary and inspiring" schools across the state. 

Typically only 5% of schools are awarded with the California Distinguished School title, which schools are allowed to use for four years — and in 2007, there were 21 Silicon Valley schools (11 from San Mateo County and 10 from Santa Clara County) that received the honor. 

Elementary and secondary schools are evaluated in alternating years and, this year, it was time for the middle and high schools to go under the microscope.

As frequent readers here know, I'm a big advocate of not only looking at real estate in established educational powerhouses, but also finding up-and-coming schools.  After all, schools power real estate demand — even if you don't have kids — and people looking for the "next big thing" in terms of appreciation need to look beyond what's already been priced into the market.

There were some big winners this year in Silicon Valley and this article kicks off a week of market analysis homing in on key cities in these school districts.  Here's a whirlwind tour.

Continue Reading »

Apr.22.2007 [ Filed under: Schools, Cupertino, Sunnyvale, San Mateo ] Comment Here »