subject: Silicon Valley And Los Gatos, California [print this page] Home-ownership is as American as apple pie and chicken-fried steak. While the chicken-fried steak might be more of a Texas thing, the bottom line is everyone in America dreams of owning a home. It's the promise of manifest destiny -- the realization of a lifetime of hard work and dedication. Of course, the key to enjoying your home is finding one in your dream neighborhood. For many Americans, that means looking westward to the Golden State.
If you're looking for a home that is well-worth the money, there is no better place to look than Northern California. This means, of course the Bay Area. I know what you're thinking: that means San Francisco prices. Few are the families that can afford a two-bedroom single family home in the City by the Bay. Instead, I'd like to suggest looking in Oakland, San Jose, and even in Los Gatos, California. Some of you may recognise this as essentially the Silicon Valley, barring Oakland, of course.
It should be noted that homes in the Silicon Valley have enjoyed a steady increase in value since the Great Depression -- like most markets in the nation. In the span of one year, the average median value of a home in the region jumped by nearly 17%. The time these houses were on the market enjoyed a decrease of nearly half, from nearly 100 days on the market in 2009 to only 60. That's a key indicator that despite the economic downturn, people are still looking to invest their money in California real estate.
The more sought-after neighborhoods and towns in the Valley include San Jose proper, Morgan Hill, and Los Gatos. Why? Simply put, they are well-maintained, well-protected neighborhoods that have resisted the economy and withheld their value. Morgan Hill homes, for instance, enjoyed a median increase in value of approximately 2% over the course of 2009 and 2010. Los Gatos homes, by comparison, enjoyed a 6% increase in value! If you want more bang for you buck, so to speak, you should be looking into Northern Californian real estate.
For those of you who are not convinced the region is good for you, pick up the phone and talk to a certified realtor. They can help you find properties that can make the most of your investment dollar. In fact, given the economic climate, this may be the best time to look into making an investment. Consider Argentina and the cost of real estate in Buenos Aires and then you will have a relatively accurate picture of what the future will hold for Californians and would-be Californians.
