July 9, 2012

How is the real estate market in Silicon Valley?

People sometime ask me, “How is the real estate market in Silicon Valley?”

Well, let’s look at this e-mail I got recently:

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Townhouses across the street from train tracks, light rail, a high way, and a major road – starting at $624 per square foot?

If you ask me, the market is doing pretty darn well. Everything is back on track, just as nature intended. Finally the Real Bay Area is back on track to eventually overtaking lesser places like Manhattan, London, and Tokyo for most expensive real estate.

The real question is: will you be lining up for 3 days or 3 weeks on the street to get one of these units?

Thank goodness!

Comments (20) -- Posted by: burbed @ 5:20 am

20 Responses to “How is the real estate market in Silicon Valley?”

  1. PK Says:

    Also, Vancouver.

    I heard Woz is already in line to buy one!

  2. nomadic Says:

    Link: http://classicsstation361.com/

    It’s in Mountain View.

    Everything is back on track…

    Is that a train pun, burbed?
    Just think how extra-awesome this would be with high speed rail whizzing by your windows!

  3. madhaus Says:

    Station 361? Is that the mile marker for High Speed Rail? Cuz they ain’t stopping in Mountain View.

  4. Marian C Says:

    Probably going to get some good interest, we are experiencing a lack of quality inventory.

    Some people will like the access to the trains..

  5. SEA Says:

    Who wouldn’t wait 3 weeks in line out on the street for one of these?

  6. Petsmart groomer Says:

    And this is only phase 1! Yes, there is a phase 2 coming!!!

  7. Zak Says:

    The floorplan is interesting for the Berkshire.

    The formal / flex space is on the first floor. The kitchen is on the second floor. Having guests over would mean a lot of exercise. Imagine climbing up and down a flight of steps every time you need a glass of water.

    All the bedrooms are on the third floor. Again room for a lot of exercise.

    This place is not only walking distance to the train station, it makes sure you walk a lot just to live in this house. Imagine all the money you will save by not joining a health club.

    Jokes apart, I am not sure I understand the floorplans. For example The Dakota seems to have abandoned the concept of parallel walls around the kitchen. Has anyone visited an open house for this development? Please comment.

  8. Crissa Says:

    I wish they had to disclose how many units are occupied vs absentee/vacant and owner vs investment. Many of these places are empty as a tomb, selling very slowly.

  9. Crissa Says:

    Better to have stairs than someone above and below you. You can do aerobics or play rock band in the flex space.

  10. Divasm Says:

    Hmm…if they really wanted to promote that “go green” theme, instead of labeling it a 1-car garage, they should have called it “Bicycle storage.”

    My husband and I visited a new housing complex in 2005 out in Union City, called “Trestle Glen” or something like that…we were there for all of 10 minutes and 2 BART trains and an Amtrak went by – the development was literally nestled in between the two tracks. But it was 2005, so I’m sure it sold quickly and expensively.

  11. mabeldu Says:

    does this replace Gables End for local point & laugh material?

    “Embark on an exhilarating lifestyle when you make Classics at Station 361 your new home.” well, yeah. that choochoo in your front yard will provide lots of exhilarating moments. every. single. day.

    “”The builder describes this home as “Absolutely stunning and so modern..You will be the envy of your friends as they gather around your super sleek kitchen…or hangout on your TWO balconies.That’s right, you have a balcony on BOTH sides of your home!”” all the better to hear you with, my dear.

  12. Ocho Says:

    It’s a truism at Burbed that no one in their right minds ever wants to live near a train station, but believe it or not access to transit is a plus in most places! Crazy right? Why live near a convenient, green, and cheap transit alternative when you can drive your SUV on 101 every day and pay $4.35 a gallon for gas?

  13. The Gilroy Alex Says:

    This used to be a sprawling, single-story, complex of little tech companies in a big building, you paid rent for X number of cubicles or something… it was pretty cool. I know this because I bought a couple pieces of test equipment from a guy in here. The fumes of good old lead-based solder hung in the air … like a big TV repair shop.

    This is near the light as well as the heavy rail. But it’s not really walking distance the way most people think of it. You could live here though and if you could get one of those “job” things, you could indeed do without a motor vehicle.

  14. herpderp Says:

    “Classics Station 361: Your one-stop shop for the best of the 80s, 90s, and today!”

  15. madhaus Says:

    Anyone check out the website yet? One of the upgrades available is “iPad controlled building systems.” Building systems? What, like ZomeToolM?

  16. MS Says:

    1) Which walls are shared, and is this an end unit?
    2) What’s the HOA?
    3) What is flex space? Is it finished space?

  17. nomadic Says:

    MS, looks like you better go pay them a visit to find out! Report back please. BTW, judging from the site plan, floor plans A, B, C, D and F are free standing (no shared walls. G shares side walls and H are end units; there is no plan E in the current phase, I guess.

  18. MS Says:

    Nomadic:
    “CalTrain just steps away” was a flag. You can hear CalTrain from two miles away, and it’s not a positive.
    Good observation on the lack of shared walls. The HOA should run in-house meetups for people who paid a million-plus bucks to have a condo in Mountain View.
    I don’t get what is so great about Mountain View. It’s like Redwood City at twice the price, with no view.

  19. Kenji Says:

    I liked the units and the convenience. Walk distance to downtown mountain view, to the train station, to the farmer’s market, and blocks from the freeway.

    Started at $700k range and last weekend they were asking for $875k for a single family home 1079sqft home. This is border line single family home. Yard is barely there and every large window is facing another unit’s window.

    Realistically I would’ve had to line up at 7am to get this unit on the day of the release. The iPad like marketing almost worked.

    Then I snapped out of it. For $875k, even in Mountain View, you can find something better. Don’t be tricked by the new amenities.

  20. Xi Says:

    I came across this old post. The same 1079sq ft home selling for $875k in 2012 is now selling for $996k in Phase 2.


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