4 Reflections On Summer & Housing 2016

What a summer! A little vacation, a few local concerts…and a LOT of successful sales & happy homeowners! We aren’t usually overly sentimental…but we do like to take time to reflect on who and what matters most, and keep things in perspective. Every market, every economic cycle, every transaction and every experience gives us something to learn from, in some way or another. Silicon Valley life is way too demanding to get wrapped-up in the small stuff, so we decided to review the 4 big themes that summarize the summer of 2016!

1. The Best Investment. We are not going to lie – real estate is always about timing. But how you analyze, mitigate and strategize that timing is up to you. There will always be debates about the best time to buy, waiting or not waiting, what if prices rise, what if rates rise, what if a tech company merger happens in my backyard and impacts my value…believe us, we know there is a lot to consider. This summer many homeowners wondered if they should wait for a bubble to burst, get in before the bubble explodes and anxiously awaited the rise of interest rates. Price, purchasing power, competition and the like will always be driving considerations…but they should not be stopping blocks. We saw so many buyers and sellers take the process very seriously, with true commitment and a firm idea of what their ‘win’ would look like. And we are happy to say that speed records for days on market and winning offers dominated the season! Ultimately, the clients who chose to make the investment in themselves, in their desired lifestyle and in the path they desired ultimately achieved exactly what they wanted. A little perseverance, a lot of trust and the right team goes a long way!
2. Local, Regional & Global Impacts. Tesla purchased Solar City. Microsoft bought LinkedIn. LinkedIn and Google swapped land. The IPO drought continued. Bay Area inventories dropped lower than other California markets. Brexit happened. It’s been quite a summer! When news breaks on any level, you typically see two waves of response. The first wave reports what actually happened, the facts. The second wave of information is usually a series of projections on the impact to housing, economics, jobs, etc. Sometimes these projections turn into reality, other times they are a short-lived hype with zero base in reality. The key here is local and regional news may impact inventory, prices and demand, while national and global events are more likely to hit rates, financing programs available and international competition. Understanding these potential impacts is more important than immediately reacting. Got doubts? Always ask your real estate and finance team what it means for you…today. Limit your stress to what you can control and choose what controls you…way easier said than done, we know. ;)
3. Nothing Is Impossible. If your mother ever told you where there was a will…there was a way, she probably experienced real estate. There were many situations this summer that were not easy or ideal, but that doesn’t mean we brushed them off. In fact, it means we put on our hard hats and steel-toed boots and dug in a little deeper. Not every buyer or seller is in the optimal position they would like to be in as they venture into their next transition, but absolute transparency with well-rooted expectations and a lot of strategic planning makes almost anything possible. We don’t disclose our clients’ stories online…but feel free to reach out if you’d love to hear some examples or chat with some satisfied (okay, maybe utterly thrilled) homeowners. You don’t have to live in a fairytale world to have a very happy home in the ending.
4. People First. This one is more like a recurring theme than a one-time reflection, but the biggest and most important aspect of our personal and professional lives this summer (and always!) has been the people who surround us. From Zack who joined the Homes of Silicon Valley team this year, to our families who respect our unusual schedules and frequent phone calls, to our partners who work alongside us, to our clients who let us work for them…the journey is far more about people than things. We could not be more grateful for those who trust us with their biggest investment and largest source of comfort…and that’s why we just keep doing more, growing more…and being more. You all motivate us, more than a little! Thank you.

Cheers to summer ending with just as much hope, health and happiness as when it began…if not more!

Mark & Jason

team@homesofsv.com