Silicon Valley Unemployment may be high
Employment in Technology Sector Stuck in a Slump – WSJ.com
As Silicon Valley rides a recovery in the technology sector, local companies such as Google Inc. and Cisco Systems Inc. have said they will beef up their work forces. But judging by California’s employment data, such hiring has yet to happen.In fact, Silicon Valley counties such as Santa Clara, San Mateo and San Francisco continue to report a drop in employment in tech sectors such as computer manufacturing, software and Internet-related fields. There was some modest job growth locally during the recession, but it was in areas unrelated to tech, such as health care.
The employment decline in many tech categories is part of a decadelong trend. While jobs in other categories — such as Internet workers and new areas such as iPhone app development and clean technology — have grown or at least remained stable over the decade, that hasn’t been enough to offset the overall disappearance of tech jobs.
[waiting for a rebound]In Santa Clara County, which includes metropolitan San Jose, Santa Clara and Sunnyvale, employment in computer and electronics product manufacturing fell to 102,500 in September, the lowest point this decade, according to the California Employment Development Department. At its peak in December 2000, the sector employed 177,600.
The number of those employed in the semiconductor and electronic-component manufacturing sectors in the Santa Clara area also dropped to its lowest number this decade, to 39,500 in September from a peak of 73,400 in December 2000, according to the employment department.
Software employment in the Santa Clara region, meanwhile, slid to 9,200 in September from 10,600 a year earlier. Internet workers totaled 18,200 in Santa Clara County in September, down slightly from 18,600 a year earlier. Jobs in both those segments have risen from earlier this decade.
In the San Mateo, Redwood City and San Francisco area, there were 37,300 people in September working in the information field, which includes Internet companies and telecommunications. That was down from 39,900 a year ago, according to the employment department.
For those in computer systems design and related services, jobs held steady at 32,300 workers in that segment in San Mateo and San Francisco counties in September.
This is actually a blessing in disguise. As we all remember, housing prices started to soar in 2003, at the peak of the tech bust.
Therefore, the more unemployment, the higher house prices go.
Why? Well, if you’re unemployed, you tend to spend more time at home. That means you want a better home instead of a stinky rental where everyone else is also spending time at home.
2010 is looking better and better everyday!
November 20th, 2009 at 7:09 am
Your sarcasm is getting past old. Why not try another angle?
November 20th, 2009 at 7:44 am
What sarcasm? It’s special here!!!
Happy Friday everyone
November 20th, 2009 at 8:40 am
3rd Generation is getting past old
November 20th, 2009 at 9:05 am
Why would any want to read the blog without sarcasm?
November 20th, 2009 at 9:46 am
SV unemployment just hit 11.9%!
California unemployment is 12.3%. Ouch!
November 20th, 2009 at 10:05 am
Personally, I think 3rd generation is right.
Real Estate in the Real Bay Area is serious, serious business. The sarcasm is hurtful to those of us who spend 60% of our monthly income to get the house we deserve.
Furthermore, the sarcasm on this blog denigrates the great achievements of all us RBA’ers expecting our millions in the Facebook or Twitter IPOS. We deserve better.
Wow, I’m getting worked up. Think I’ll have a triple venti latte at the Blue-Bottle Cafe (Starbucks is so pedestrian) to cheer myself up before picking up Madison and Tyler from school. (Their school would be just perfect except for those kids whose parents rent instead of own–their parents have probably been priced out forever.)
November 20th, 2009 at 10:18 am
It’s even worse than 12.3% in CA, there was just a press release saying that it is 12.5%. It’s the all time high since they have been keeping track of this at the state level. Michigan was 15.1%! and Nevada was 13.0%!! It’s scary bad out there.
November 20th, 2009 at 10:21 am
Sarcasm. Sarcasm? SARCASM? SARCASM?!?!?!
What sarcasm?
There’s nothing but realistically valued homes and happy people here in the bay area. Perhaps 3rd generation’s sarcasm-o-meter is busted.
November 20th, 2009 at 10:33 am
#6 – zing! Nice one. You had me going all the way through “The sarcasm is hurtful to those of us”, but I clued in at “60%”. Well done.
November 20th, 2009 at 10:35 am
#1, seriously, dude, that’s the DNA of this blog. If you wanted somebody to give an upbeat view of housing, look elsewhere.
Who tells a blogger, a seasoned veteran one, to ‘try another angle?’.
Make your own blog, Burbed writes this one.
November 20th, 2009 at 10:53 am
Overall unemployment stat is useless aggregate data. There are job categories with high employment, but there are also many pockets where there is no recession, and even lack of available talent.
November 20th, 2009 at 11:21 am
Software employment in the Santa Clara region, meanwhile, slid to 9,200 in September
Wait, what? There has got to be way more than 9200 software engineers near Santa Clara.
November 20th, 2009 at 11:23 am
The number I’ve heard is anywhere between 11-18%. Reason being, a lot of people laid off in the last year have either run out of UI, or they’ve stopped looking.
Secondly, the economic engine of SV is fueled with VC capital. That has pretty much dried up. I know many people working at small startups that are living on starvation funds.
A lot of students graduating today are pissing away their talents trying to come up with the next iPhone app. Sure- the iPhone is cool, but making iPhone apps are hardly what I’d call revolutionary.
Lastly, SV is no longer unique or even that inventive. The crushing expense of doing business here is its own eventual downfall as more and more of the work here is either offshored or moved to other states. That and there also scads of tech workers like me who are fed up and moving to minor tech hubs like Raleigh and Austin. Thus eventually the drain will effect SV and it will go the way of Detroit. Perhaps it’ll be more like Florida, with rich retirees moving in and buying houses in which to die in.
November 20th, 2009 at 11:53 am
Overall unemployment stat is useless aggregate data. There are job categories with high employment, but there are also many pockets where there is no recession, and even lack of available talent.
—–
I agree, it is useless aggregate data, when the number goes up. However, whenever unemployment number shows signs of stability it becomes useful aggregate data. RealEstater is too quick to jump on it and declare “unemployment is on the way down“.
Oh, yes I forgot. When it says “unemployment is on the way down”, it was talking about specific “job categories”. Some specific job categories just cannot lose job. If they do, it’s just routine layoffs to cleanup dead woods.
November 20th, 2009 at 12:04 pm
Bob, sometimes you’re just like real estater – just spouting off things which you know nothing about.
“The number I’ve heard is anywhere between 11-18%. Reason being, a lot of people laid off in the last year have either run out of UI, or they’ve stopped looking.”
Bob, eligibility for unemployment bears no relevance on the unemployment numbers. Those numbers are people who are unemployed – not those who are on unemployment. Those are two different sets of people.
“Secondly, the economic engine of SV is fueled with VC capital. That has pretty much dried up. I know many people working at small startups that are living on starvation funds.”
…By fueled, do you mean its a small portion of it? I hope so because otherwise – you’re wrong.
A lot of students graduating today are pissing away their talents trying to come up with the next iPhone app. Sure- the iPhone is cool, but making iPhone apps are hardly what I’d call revolutionary.
Huh? Graduates pissing away their talent doing what they were trained to do on their own terms? Writing software isn’t revolutionary? What is it that you said you did again at that six figure job? Design web sites?
“Lastly, SV is no longer unique or even that inventive. The crushing expense of doing business here is its own eventual downfall as more and more of the work here is either offshored or moved to other states. That and there also scads of tech workers like me who are fed up and moving to minor tech hubs like Raleigh and Austin. Thus eventually the drain will effect SV and it will go the way of Detroit. Perhaps it’ll be more like Florida, with rich retirees moving in and buying houses in which to die in.”
The bay area isn’t a great place to live but it sure is unique and inventive. Guess what bob – you can offshore jobs but you can’t offshore ingenuity. That is what we have here. This place may go the way of Detroit, but it is still unique. Perhaps it already is like Florida – with rich retirees prop 13′d in and waiting to die.
November 20th, 2009 at 12:04 pm
but there are also many pockets where there is no recession, and even lack of available talent.
——
Yes, there is no recession in restaurant business. Hundreds of positions open….for busboys. Lack of talent is killing restaurant industry. College graduates are not welcome. They need talented experienced people.
November 20th, 2009 at 12:05 pm
“but there are also many pockets where there is no recession, and even lack of available talent.”
Case in point: RE. Any sector where he may be employed must have zero talent. Otherwise, he’d be out of a job.
November 20th, 2009 at 12:21 pm
#15 – you’re right anon. SV is unique. Just like every other metro area in the world.
#17… ROTFL
November 20th, 2009 at 12:27 pm
nomadic – yes but the RBA is uniquely unique. Also known as “Real Unique”
November 20th, 2009 at 1:51 pm
bob: That and there also scads of tech workers like me who are fed up and moving
oh, bob, you are such a tease!
November 20th, 2009 at 2:00 pm
but always scads and scads of “cash on the sidelines.”
November 20th, 2009 at 2:04 pm
millions of scads
November 20th, 2009 at 2:18 pm
Understandably, there’s a lot of fear here about unemployment. What many tech workers need to realize is that the world has changed. There are lot of people in India who will do tech work for penny on the dollar. If you want to make 6 figure salary here, you need to do more than just being a tech worker. You need to develop certain subject matter knowledge, industry knowledge, and have the ability to manage teams / projects / organizations. Otherwise, your skills are just commodity items, and can be easily replaced or outsourced.
November 20th, 2009 at 2:28 pm
But atleast we have “young lads” of a pre-IPO company called “Face Book”. They will save the housing market of RBA. Their skills are not commodity.
November 20th, 2009 at 2:35 pm
You need to develop certain subject matter knowledge, industry knowledge, and have the ability to manage teams / projects / organizations.
—–
And you need to be willing to stay up till 2AM. That’s called “ability to manage”.
November 20th, 2009 at 2:40 pm
Anon,
Let me correct you a bit.
First of all, the majority of tech startups rely very heavily on VC capital. I’m keenly familiar with the process. You have A rounds, B rounds, and C rounds. That and you seek out angel investors. Just about every single major tech company in existence today- and that includes the likes of Google and Apple- all got their starts with infusions of startup capital. Its VC capital that is the grease of the industry. Without it, the world of tech stops expanding. A perfect example is Twitter. Even though everyone and their mother uses and claims to love it, the company has yet to make a profit. Yet they’ve received 100′s of millions of dollars in funding. So as you can see, without the funding they would not exist.As it is now, procuring VC capital especially for smaller startups is very difficult. Many a small startup these days are dying because they cannot get their next round. When that happens, you have a falling off of the level of fresh companies. This is evidenced by the lack of new companies and IPOs.
Now for your second accusation that I don’t know what I’m talking about: Unemployment. The very definition of “Unemployed” means that the said person is not working- or employed at the moment. Recent reports indicate that a significant number of tech workers currently laid off have been laid off for well over a year. Thus they are no longer officially counted in the system as being “unemployed” since they are no longer eligible to collect UI. Thus this brings the true percentage of those unemployed to a percentage higher than what is reported as official. Its simple really and what I mentioned above is common knowledge. Why its a mystery to you is puzzling to me. I hope my clarification makes it easier for you to understand.
Lastly- your assertion that ingenuity it exclusive to the Bay Area is a joke. Hellloooo- where exactly do some of the richest people in the world live? Hmmm… let’s see… Warren Buffet lives in Omaha Nebraska. Bill Gates lives in Seattle. Micheal Dell lives in Austin. All visionary people who don’t happen to live in the all-glorious Bay Area and are at the helm of some of the world’s most successful companies. Oh- and what about cities that are successful due to their creative accomplishments? Well I hate to use Nashville as an example again, but when compared to other music industry cities, Nashville is the 2nd largest music production center in the country behind NYC, creating an estimates 6.5 Billion dollars in revenue and employing over 20,000 people locally. Given that NYC’s population is around 7 million and Nashville’s is 550,000, I’d say in reality the concentration of raw creative talent is much higher in Nashville. Austin is now considered the 2nd most creative city in the country. Not bad considering that again- it is a small fraction of the size of the no.1 city- San Francisco. These two cities prove my point: Younger cities tend to make more creative cities. Why are they younger? Because people like me are moving there because the “old” cities now suck and are increasingly difficult cities to create new ideas. This is why I assert that the Bay Area is on its way to becoming perhaps a Detroit with pleasant weather. Perhaps it will have a economy like Brazil: Lots of old money with lots of poor peons to serve the wealth holders.
Anyhow, I think I know damned well what I’m talking about. Perhaps you are the one who is more like RE because what you mentioned above was sort of useless.
November 20th, 2009 at 2:51 pm
CA umemployment is at 12.5% which means the real number is 25%, that figure much quoted as the rate during the Great Depression.
Lots of space in “Silicon Valley” to be depaved and repurposed, to be used for small gardens to grow food. Lots of folks will move back home, for instance Mexican immigrants are having the folks back in Mexico send THEM money these days, to try to hang on here, well that’s lunacy of course and they’ll go back home. I’m about the only gringo who goes into the barber shop I use, and I hear it from the horse’s mouth, the big trend is going home. Whether back to India or Indiana, wherever people have roots and family, they’re going there.
Those of us with our roots here, will be turning this delta into what it originally was, a leading producer of prunes.
November 20th, 2009 at 3:00 pm
#10
“#1, seriously, dude, that’s the DNA of this blog. If you wanted somebody to give an upbeat view of housing, look elsewhere.”
this blog is actually one of the more upbeat housing blogs! Patrick.net has a handful of owners, but most posters are realistic/critical/downers (choose what you like). Every now and then someone will post “I’m considering buying in xxx area”. Not suprisingly the responses are negative.
And housingbubbleblog.com is full of people who think that we’ll be living the Mad Max world soon.
So yeah, this one is actually pretty upbeat comparatively. Certainly better balanced. and funnier!
November 20th, 2009 at 3:04 pm
All,
If you have a cubical job where you’re not leading anything, not managing any resources, not networking with management and above, never travel, and never asked to give a talk or make a presentation, then I’d say you are as good as outsourced, and at risk of layoff.
November 20th, 2009 at 3:40 pm
Given RealEstater’s ability demonstrated in this blog, I have little doubt about his ability. Did someone mention “zero talent” here?
And talkers and presenters – aren’t those people get axed as “batch-number-1″?
November 20th, 2009 at 3:54 pm
Holy shit, did Al Qaeda take over UC Berkeley?
November 20th, 2009 at 3:55 pm
Recent reports indicate that a significant number of tech workers currently laid off have been laid off for well over a year. Thus they are no longer officially counted in the system as being “unemployed” since they are no longer eligible to collect UI.
False. You can say it a million times bob, but you’d still be wrong.
http://www.bls.gov/cps/cps_htgm.htm#unemployed
November 20th, 2009 at 3:59 pm
Awesome plan for SF!
Should attract even more people to the Bay Area.
November 20th, 2009 at 3:59 pm
anon also didn’t say ingenuity was unique to the Bay Area specifically. Note that he wrote “offshore:”
Guess what bob – you can offshore jobs but you can’t offshore ingenuity.
November 20th, 2009 at 4:20 pm
#32:
I think both have little bit of truth. While Federal unemployment rate number is purely based on survey, but California unemployment rate is not. CA model is based on both survey and UI claim data.
<http://www.labormarketinfo.edd.ca.gov/article.asp?articleId=1193
November 20th, 2009 at 4:21 pm
Correct link:
http://www.labormarketinfo.edd.ca.gov/article.asp?articleId=1193
November 20th, 2009 at 4:44 pm
Thanks, Pralay. I would also agree that the Federal measure does tend to underestimate the true numbers. People who are under-employed and/or “discouraged” aren’t counted, for example.
November 20th, 2009 at 4:48 pm
Nomadic,
Dude, like how come such a simple concept is so difficult for you to understand? Let me make this as dead-simple so perhaps you’ll understand what I’m talking about.
We are talking about an extremely simple concept here: Who is out of work? Now, we can sit here all day along and nit-pick over the meaning of definitions and technicalities. But the fact absolutely remains that there is a large number of people out of work who are not in the system because they have either stopped looking or fell off the UI rosters. I didn’t pull this out of my ass. Its been reported on NPR, CBS, and countless other news sources: That the true number of those unemployed is very likely higher than the numbers reported and this is due to the very simple, elementary reasons I mentioned already. Hence a percentage that the last I heard was as high as 18%.
I’m sorry, but I’m right on this one, and frankly this is a waste of my time to repeatedly re-explain the reasoning behind a ridiculously simple piece of data. Gah! Time for the weekend. I am out of here.
November 20th, 2009 at 5:03 pm
BOB: Please move to Austin already. Or anywhere really. Your ignorance of the Bay Area is out-of-control.
I’m starting to wonder if you’re really RE. Who is really Burbed. Actually, that would be the most incredibly triple-troll, and I salute you.
But if you are your own person…
“You have A rounds, B rounds, and C rounds. That and you seek out angel investors. Just about every single major tech company in existence today- and that includes the likes of Google and Apple- all got their starts with infusions of startup capital.”
You may or may not seek out Angel FIRST. Then there may or may not be subsequent rounds. Newsflash for you Bob — it’s not just tech companies, it’s all companies that start out small. And VC exists for many industries outside of tech.
“Many a small startup these days are dying because they cannot get their next round. When that happens, you have a falling off of the level of fresh companies. This is evidenced by the lack of new companies and IPOs.”
You have it backwards Bob. The lack of IPOs is because the market for that is still crappy. Because the market for IPOs is still crappy, VCs are not bother to fund new companies. Also, people who put money in VC have lost money too, so don’t have it available for VC. Also, VC returns have stunk now that the .com bubble is rolling out of average 10 year returns.
“Well I hate to use Nashville as an example again, but when compared to other music industry cities, Nashville is the 2nd largest music production center in the country behind NYC” Right. So if you want to do music, go to Nashville. But if you want to do tech, you come to the Bay Area. I’ve looked at every other “tech hub” in the US before I moved out here, Boston, NYC, NC, Austin, etc. etc. and they are all puny compared to BA.
BA is special if you’re into Tech. It really is. It isn’t special enough to support the house prices it currently has, and it isn’t as special as RE thinks, but it really is the best place if you’re into Tech right now
November 20th, 2009 at 5:23 pm
nomadic,
What about people who are over-employed? That is, people working a lot more than 8 hours a day, and people who are over-compensated for their time, like the executives and VCs? When balanced against those who are under-reported, it all comes out in a wash. I would say the official numbers are about right.
November 20th, 2009 at 5:39 pm
When balanced against those who are under-reported, it all comes out in a wash.
—–
You are a high-school dropout, right? A high-school graduate would have hard time to come out with such an obnoxious argument.
November 20th, 2009 at 5:40 pm
Real estate prices in Austin have been driven up by Californians over the past few years. The people who cannot prevail in California’s competitive environment move out to Austin. For that reason Austin mostly have second tier talent compared to California.
November 20th, 2009 at 5:41 pm
bye, bob! You’re still wrong if you were talking about national rates. Whether you qualify for UI or not, you are STILL unemployed. You said that not collecting UI means you’re not counted.
We can both agree that whatever the widely reported rate is, it underestimates the true number. I think U-6 is the more realistic measure (not normally in the headlines).
From a blog that some folks here like:
http://www.calculatedriskblog.com/2009/11/ny-times-unemployment-measure-u-6.html
November 20th, 2009 at 5:44 pm
What about people who are over-employed? That is, people working a lot more than 8 hours a day, and people who are over-compensated for their time, like the executives and VCs? When balanced against those who are under-reported, it all comes out in a wash. I would say the official numbers are about right.
What? WTF? So, if I’m unemployed but my neighbor works two jobs (or equivalent), it averages out? Does that mean he’d pay my bills?
Are you on drugs?
November 20th, 2009 at 5:47 pm
For that reason Austin mostly have second tier talent compared to California.
——
I guess that’s how European thinks about Americans – second tier talent who couldn’t do anything in Europe and came to America for opportunities as pilgrims.
November 20th, 2009 at 5:52 pm
zanon wrote: “it really is the best place if you’re into Tech right now”
I’ll have to second that. I get cold-contacted on a weekly basis from out-of-state companies to move to eastern cities for positions I’d have thought I’m overqualified for. A bit surprising that so many people are fishing so far out for “talent”. Even within state, some companies around Irvine and San Diego look for technical leadership in the bay area after looking unsuccessfully closer to their location. The actual tech jobs might not all be in the bay area, but the tech opportunities sure seem to converge here.
November 20th, 2009 at 6:52 pm
Pralay,
On the contrary, I’m sure you are a first tier Indian because you made it to America. After you buy your first house, you will have really arrived.
November 20th, 2009 at 7:18 pm
nomadic,
Unemployment is a statistic. It’s not just about you.
November 20th, 2009 at 7:26 pm
#48 raises hypocrisy to an art form, the kind that leaves you speechless with wonder. It must have taken decades of practice and natural talent.
November 20th, 2009 at 8:41 pm
On the contrary, I’m sure you are a first tier Indian because you made it to America.
—–
Definitely not. Your twin brother in India who is trying is sell properties in Bangalore would tell that only second tier talents goes to America. He would tell along the line of #42:
“Real estate prices in
AustinSan Francisco Bay Area have been driven up byCaliforniansIndians over the past few years. The people who cannot prevail inCalifornia’sBangalore’s competitive environment move out toAustinSF Bay Area. For that reasonAustinSF Bay Area mostly have second tier talent compared toCaliforniaBangalore.”November 20th, 2009 at 8:43 pm
#48 raises hypocrisy to an art form, the kind that leaves you speechless with wonder. It must have taken decades of practice and natural talent.
——
I think nomadic is right. He could be in drugs.
November 20th, 2009 at 9:31 pm
C’mon guys, I thought #48 was pretty funny. RE is the exact flip side of the post I made: he has a job, therefore unemployment is irrelevant. It’s always about him.
November 20th, 2009 at 9:32 pm
Besides, I was only asking because it’d be nice to quit my job…
November 20th, 2009 at 11:08 pm
What about people who are over-employed? That is, people working a lot more than 8 hours a day, and people who are over-compensated for their time, like the executives and VCs? When balanced against those who are under-reported, it all comes out in a wash. I would say the official numbers are about right.
Real Estater, you are a serious dumb-dumb. I work more than 8 hours a day. I do NOT get compensated for any more than that. I’m sure executives are the same; they’re on salary.
November 20th, 2009 at 11:23 pm
Real Estater @ 40–
Well, well played sir. That post could have come straight from Burbed.
Of course, Burbed’s version with exactly the same words would have been sarcastic. Please, please tell me you were being sarcastic. Please?
You aren’t turning on us are you?
November 20th, 2009 at 11:49 pm
I’m really surprised by the reaction to #40. Looks like some of you only take a one-sided perspective. The argument for under-employment isn’t any more compelling than over-employment. It’s like saying just because I want to get paid more, I really will.
November 21st, 2009 at 9:04 am
I’m really surprised by the reaction to #40.
—–
Of course you are surprised, because you are either on drug or plain simple dumb.
November 21st, 2009 at 9:23 am
Of course, Burbed’s version with exactly the same words would have been sarcastic. Please, please tell me you were being sarcastic. Please?
——
Nope. It’s not sarcasm. That’s not the reason RealEstater posts comments on Burbed. He is here to help those who “need the most help”.
And this comment is not sarcasm either.
November 21st, 2009 at 9:31 am
#48 raises hypocrisy to an art form, the kind that leaves you speechless with wonder. It must have taken decades of practice and natural talent.
Agreed. I haven’t seen a troll that big since the Lord of the Rings trilogy!
November 21st, 2009 at 1:21 pm
Totally no inventory right now, except for San Jose and Santa Clara. Wife doesn’t want to settle for these places due to schools. I fear things will only get harder for buyers next year.
November 21st, 2009 at 1:30 pm
See all those people protesting on UC Campuses? What is it that they are fighting for ? It is to fight for getting an education. I feel like it’s the same way with buying a home. It’s more than just buying the home, but buying a spot in the school district. Education and employment go hand in hand.
November 21st, 2009 at 1:39 pm
sv shopper, have you looked at los gatos lately? the houses in the ne corner of blossom hill and lg blvd have come down quite a bit, and that is lg district. ‘down’ is relative of course- i mean you could get something for 1.2m. Down from 1.5m in 2007.
November 21st, 2009 at 1:44 pm
SiO2, which school district is it in? Any chance I can get something closer to $1m?
November 21st, 2009 at 1:54 pm
I’m pre-approved for 800k loan, but wife is not working, so want to be conservative. Thanks.
November 21st, 2009 at 2:18 pm
SV Shopper,
The way you are losing bids in crappy part of Sunnyvale, you simply don’t have chance. Look at the sale data of Sunnyvale. There are 23 properties sold in sub-million range ($1M-750K). Only six of them over asking (and five of them marginally higher than original listed price). That means you either missed remaining 17 properties or you are primarily focused on crappy part of Sunnyvale (because of most of the bidding games are going on 94085). You should go back to Madison Ave and restart driving NYC yellow cab.
November 21st, 2009 at 2:36 pm
BTW, let’s look at Sunnyvale where SV Shopper is shopping (and losing bids like loser). According to redfin Market Trend chart (info available till Oct 20th).
94087: Better part of Sunnyvale. SFH for sale: 74. That’s definitely not “no inventory”.
94085: Crappy part of Sunnyvale, where SV “wife-big-on-education” Shopper is losing bids. SFH for sale: only 23. That’s definitely “no inventory” if you compare with last years flood of inventory due to foreclosures.
SV “wife-big-on-education” Shopper’s children simply don’t have any future here.
November 21st, 2009 at 6:17 pm
Poor SV Shopper, getting pounded by Pralay for wanting to buy house. #65 and 66 takes rudeness to new heights. I’m speechless. Thanksgiving is right around the corner. Where’s the Bay Area holiday spirit?
November 21st, 2009 at 6:56 pm
LOL! Now RealEstater is in the rescue mode of his own alias. What are the similarities between these two guys (or two aliases).
1. Both spell humour.
2. Both are losing bids left and right.
November 21st, 2009 at 7:01 pm
Poor SV Shopper, getting pounded by Pralay for wanting to buy house.
—–
I am just trying to help SV Shopper with some straight talk. I am here to help those who “need the most help” – just like RealEstater.
And I mean it. I am not pretentious – just like RealEstater.
November 21st, 2009 at 9:22 pm
> Where’s the Bay Area holiday spirit?
It moved to Tennessee.
November 22nd, 2009 at 11:08 am
Pralay:
Don’t forget about me. I’m also “just like RealEstater”, right?
Seriously, get a grip, man. Did SV Shopper offend your mother in any way?
November 22nd, 2009 at 11:23 am
sv shopper – the area I mentioned is los gatos schools. But, I dont think you could get a livable SFH for $1m there now. Maybe in the future, maybe not. for $1m you can get CUSD in sunnyvale, cupertino, or west san jose. West SJ is probably the cheapest of the three.
November 22nd, 2009 at 7:31 pm
sv shopper, do look around west san jose and campbell.
there you can find really nice houses for $800k with great schools (api > 900)
November 22nd, 2009 at 9:22 pm
Did SV Shopper offend your mother in any way?
—–
Definitely not. That’s why I am trying to help him.
November 22nd, 2009 at 10:27 pm
I don’t know. I think you can use some help yourself, Pralay.
November 22nd, 2009 at 10:42 pm
I am just trying to follow the footsteps of our GREAT HELPER.
.
.
.
.
With Bay Area spirit.
November 23rd, 2009 at 4:42 am
Pralay,
You can help a lot by not helping.
November 23rd, 2009 at 10:47 am
You can help a lot by not helping.
—-
Don’t be so heartless RealEstater. You are the role model of helping those who “need most help”.
November 23rd, 2009 at 6:05 pm
SV Shopper, check out 16627 Camellia Terrace in LG. $1.059 for 1800 sqft 3/2. That’s a nice neighborhood with LG schools. Very convenient location too, walking distance to shopping.
Probably you will know if you prefer LG or Cupertino schools. They are both well regarded, but they are certainly different.
The other angle to check out is Mtn View with Los Altos school district. Cheaper than Los Altos but still nice. Probably more expensive than Cupertino or West San Jose however.
November 23rd, 2009 at 8:26 pm
The guy is pre-approved for $800K and you’re already pushing a $1,059,000 property… You would make a great realtor!
November 23rd, 2009 at 8:43 pm
I don’t see any problem. Home price always go up in RBA. Higher the price you pay, bigger the profit.
November 23rd, 2009 at 8:45 pm
But again, SiO2 effort is waste of time. Alias SV Shopper comes to Burbed every weekend and tells us that there is no inventory (and he just lost another bid).
November 23rd, 2009 at 8:59 pm
And don’t forget next year is going to be tougher. Price will be higher. Don’t get priced out forever. Hurry up! Buy!
Predicted by “professional realtor”.
Stay tuned for SV Shopper’s next weekend update saying that next year is going to be real real real tough — with negative inventory. And he is going to lose another bid (and RealEstater another too).
November 23rd, 2009 at 9:53 pm
He’s approved for an $800k loan. With a “modest” down payment of $259k the place is yours! If it’s been on the market awhile he could probably get it for close to $1M – he said he could go up to $1M before.
November 23rd, 2009 at 10:02 pm
> He’s approved for an $800k loan.
You have to understand, I’m only an amateur here
November 23rd, 2009 at 10:37 pm
With a “modest” down payment of $259k the place is yours! If it’s been on the market awhile he could probably get it for close to $1M – he said he could go up to $1M before.
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But again, there is “TOTALLY no inventory”. Therefore this property at LG does not exist. When 1 or 2 (not more) properties show(s) up in market once in a blue moon
- he bids 5% below listed price and loses (even though his “professional realtor” keeps telling him that next year price is going to be higher).
- he bids 10% below listed price and loses again (even though his “professional realtor” keeps telling him that demand in $1-1.5 range in good district is going to very high in future).
- Next week he is going to bid 20% less than listed price (even though his “professional realtor” keeps telling him that there is TOTALLY no inventory and next year is going to tougher).
November 23rd, 2009 at 10:46 pm
he said he could go up to $1M before.
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What are you saying? You are underestimating him. He could go up to $1.5M.
He is ready to pay up to $700K downpayment.