Luxury properties in Silicon Valley
When people look at the homes for sale in the Bay Area, some may assume that the only quality properties are located in the ritzy sections of San Francisco. However, this is absolutely not the case - Silicon Valley, located to the south of the metro area, is known for not only its burgeoning technological market, but its luxurious homes as well.
A multi-million dollar home may not be feasible for most people, but because the employment market is booming in San Francisco, a couple of years' savings might be enough for potential homeowners to afford a large down payment. If you have some extra funds and are looking for a glamorous move, there are more than enough affluent homes to choose from.
For example, the San Francisco Chronicle reported that on October 27th, a Woodside mansion designated "Le Soleil" will hit the market at a suggested retail price of $10 million. The property comes equipped with "a marble-finished entrance salon, ballroom, dining room, morning room, casual dining room, professionally equipped French country kitchen, billiard room/library, wine cellar with tasting bar, and family room with fireplace and media cabinetry," according to the news source.
Imagine what it would be like to live in the luxury of Silicon Valley as you peruse the listings in the area. However, you might want to act soon - many tech professionals are flocking to the region and snatching up available homes.
Saratoga News recently reported on a "buying frenzy" that is occurring in Silicon Valley, due in part to a low housing inventory sparked by improving housing metrics like median home price.
"The median price is gaining in part because of a shift in the mix of what is selling," said state economist Leslie Appleton-Young, according to the news source. "The increasing share of sales in higher-priced coastal markets at the expense of the inventory-scarce distressed markets has been the primary factor in fueling the statewide median price."
Silicon Valley is a paradisal mecca for technological professionals seeking to relocate. Lush scenery, valuable homes and a community made up of similar experts all contribute to the attractiveness of the region, and high demand is now being reflected in the real estate market numbers. Since Silicon Valley has one of the lowest housing inventories in the entire state of California, it might be time to search the local listings if you are seeking a relocation.