Choosing the Best Location for You
There was something about it. Maybe it was the bustling downtown area with its crowded restaurants and palatial arts center. Maybe it was the summertime shade of the wooded neighborhood just walking distance away. Maybe it was the knowledge that in a couple years they could send their kids to some of the best schools in Silicon Valley.
The couple next door stepped outside as I was opening the lockbox. They moved stride-in-stride together and you could sense their affection for each other. Their son would have a sister in a few months, and as we said our goodbyes, I could see my clients glance at each other knowingly. Would their path follow the one of the couple we met? Only time would tell. The first thing to do was to step through the door.
Sometimes the feeling is unmistakable. Cliches abound: real estate is about “location, location, location” and sometimes you find the right place at the right time. It feels like that proverbial ray of light peeking through the cloud cover. You just know.
But despite how small of a world it’s become when it comes to communicating with other people — with email, IM, and texting joining their more staid counterparts in the telephone, fax machine, and (gasp!) the written letter — the world is a very large place when you’re someplace else from where you want to be.
These are the personal and financial reasons why location, location, location is so important when buying Silicon Valley real estate. I’d like to share with you a number things my clients and I have talked about. The best location in Silicon Valley is just as unique as the individuals who live here.
May.10.2007 [ Filed under: Home Buyers, Real Estate Stories ] Comment Here »
I am on a mission. He and his family don’t know it yet but I am going to find them that house. Not necessarily the palatial one they left behind, but one that — with a little elbow grease from their very capable patriarch — gives them that sense of pride and stability that he’s been lamenting the loss of since his move to Silicon Valley.
"It’s yours!" About ten seconds after hanging up with the selling agent, I couldn’t wait to deliver the news. This had been something he’d been waiting years for and today was the day. And after those two words, the only thing on the line was stunned silence! A combination of elation, shock and achievement. You could feel the excitement echoing through the airwaves but the quiet could have put out a candle.
Come on, admit it. We've all done it. There have been times when you've been tempted to throw money at the problem. Maybe you got tired of circling around for parking? Maybe you could have waited and mail-ordered that part for less — even after shipping — but went to pick it up at Fry's anyway? Maybe you paid a little extra to book that plane ticket one week instead of 21 days in advance? 
Arm wrestling. A zero-sum game where you have to beat your opponent in order to win. There are times when I need to take this approach to get the best deal for my clients. But in this case, there was a different opportunity.
It was the right neighborhood near one of Silicon Valley's up-and-coming downtown areas. I paced the angular stairwell looking carefully at the stained hardwood while my client measured out the living room. "It's good," he said, sizing up the empty canvas beside the fireplace. I smiled and made a left into the downstairs guest room.
I figured it was worth a call. After all, they were out-of-town listing agents who might not have known what the usual conventions were in that part of Silicon Valley. 
When evaluating a loan, our lenders consider four major factors. What's interesting is that the priority of the factors has radically changed since 1983, when I started in the business. Here's a little game to illustrate what the differences are! 
There were network connections wired into every room, and this being Silicon Valley, we asked the owner if it was standard CAT-5 or CAT-5e. The gentleman, in his decidedly French accent, said with a bit of sheepishness, "You know, I'm not sure." (He was a little redfaced because we'd talked about his job at Cisco.) 
After all, it had everything he wanted: from an outdoor, ground-floor patio for his barbecue to the connected living and dining areas he could use as a large home theater (60" plasma), plus it was within walking distance of his favorite places in the Bay Area and was in his price range even with competitive bidding. 
