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The five most expensive housing markets in the fourth quarter were the San Jose, Calif., metro area, where the median existing single-family price was $940,000; San Francisco, $781,600; Honolulu, $716,600; Anaheim-Santa Ana, Calif., $708,700; and San Diego, $546,800.

Sourced through Scoop.it from: m.rismedia.com

City leaders must find a way to not only to streamline the building application process, but also must evaluate the balance between multi-unit living with detached homes with back yards. One type of construction will not satisfy all of the buyer market.

Blackstone Vice Chairmans 2016 Predictions Are Already Coming True

Blackstone Vice Chairman Byron Wien’s 10 Surprises for 2016 included oil prices down around $30/barrel and only one Fed rate hike—both seem likely.

Sourced through Scoop.it from: www.bisnow.com

If the oil price trickles down to the U.S. consumer, expect to see consumer confidence continue to tick up.  I agree with the one or maybe two rate hikes. But I don’t expect to see much more than 4.5% for 2016 with interest rates. 

John Kilroy On Why A Recession Is Only A Negative Thought Away

John’s advice? Keep doing what you’re doing.

Sourced through Scoop.it from: www.bisnow.com

Mega developer, John Kilroy spoke recently on predictions for the Bay Area related to economy, development, and global influences. 

As a developer, in the middle of some major projects, Mr. Kilroy believes a positive mental attitude is important.  I agree.  He comments on the need for people to not “talk themselves into a recession”.

He comments on 100,000 jobs being added over the next 3 years in California. I agree on the hub of the Silicon Valley Brain Trust and even though venture capital money has dropped, it is unlikely Silicon Valley will become an abandoned oil well.

Great overview from Allison Nages with Bisnow.

There’s a degree of caution, an expectation of adjustments, but for a company that looks at the long-term, there’s still plenty of positive news. He’s bullish on San Francisco, saying you can’t find a better place to invest.

Read more at: https://www.bisnow.com/san-francisco/news/state-of-market/exciting-2016-ahead-for-sf-but-recession-is-only-a-negative-thought-away-54834?utm_source=MorningBrief&utm_campaign=20160122_san-francisco_morningbrief&be=CJ%40CJBREALESTATE.COM&utm_medium=email?utm_source=CopyShare&utm_medium=Browser

Foreign Buyers to Turn Up the Heat in 2016

Data from the Association of Foreign Investors in Real Estate (AFIRE) says foreign buyers plan to throw even more cash into US real estate in 2016.

Sourced through Scoop.it from: www.bisnow.com

Concerned about how 1/8% increase in interest rates will impact buyer demand in Silicon Valley?  Don’t be.  Read on.

San Jose objects to job/housing imbalance of Related Companies CityPlace Santa Clara project – Silicon Valley Business Journal

The 9 million-square-foot project, CityPlace Santa Clara, will result in 24,760 new jobs but will contain a relatively small number of new homes, Freitas says in the letter. That dynamic will stimulate demand for 15,408 residential units outside of Santa Clara, equating to population growth of 40,677 residents, he wrote.

Sourced through Scoop.it from: www.bizjournals.com

The incredibly fine balance or jobs, housing, retail, transit, and affordable housing is testing all of our city planners.  Easy to point the finger but where is the Silicon Valley Planning family?  Time to get serious.  Politicians can show pretty pictures and pitch jobs as one presentation, homes at another, retail at another, and affordable housing to another but it is time to become weavers of community planning.

San Jose Flea Market development plans get more residential and retail as BART nears – Silicon Valley Business Journal

More homes, more retail — and no school. That’s the basics of revisions being proposed for the northern portion of the San Jose Flea Market, a massive redevelopment project close to the city’s first BART station. Next up: Whether to revise plans for the southern portion of the site, which is even closer to the transit node.

Sourced through Scoop.it from: www.bizjournals.com

I definitely agree with adding more retail and higher density next to this North San Jose Bart Station.  The idea is to have everything convenient to getting on and off the train. 

Santa Clara Plots Ambitious Downtown Development Plans

The final public meeting on resurrecting Santa Clara’s downtown is scheduled for 6:30 p.m. Dec. 1 in City Council Chambers at City Hall, 1500 Warburton Ave.

Sourced through Scoop.it from: news.theregistrysf.com

“The planned $6.5 billion mixed-use development, dubbed “Downtown Silicon Valley,” will become a regional hub sprawling across 239 acres and eventually encompass 9.2 million square feet of office, residential, retail and entertainment venues.”

No more sleepy Santa Clara!  Retail and high density is the direction of all the municipalities in Silicon Valley.  What we don’t see is the plan for transit.

Volar, a 25-story mixed-use tower, is proposed for edge of Santana Row at 350 S. Winchester in San Jose – Silicon Valley Business Journal

“Meet Volar, a 25-story mixed-use tower proposed for 350 S. Winchester Ave., that’s definitely outside the proverbial box. (The word means “to fly” in Spanish.) On tap: 330 residential units and about 50,000 square feet of commercial space…”

Sourced through Scoop.it from: www.bizjournals.com

Nice to bring 330 new homes to the 280 corridor but unfortunately, that still means about 330 new cars as well to the Santana Row block.  Most are still not able to “walk-to-work’ so we need transit planning to go with these new adventures.

What your salary is really worth across America – The Business Journals

This interactive map shows how far your money goes across the US adjusted for the cost of living.

Sourced through Scoop.it from: www.bizjournals.com

If you plan on relocating from Atlanta to San Jose, make sure to ask for a raise!

HomeBusinessStor Bay Area home sales surge as buyers roll into the suburbs

Veridian Realty Group

Sourced through Scoop.it from: cj-brasiel.cb1.so

Watch for Morgan Hill, Gilroy and other South County areas to boom in 2016.  Make sure to check out our new listing at 659 St. Timothy Palce, Morgan Hill, CA.  Open House, Sunday November 8th 1-4pm.

London and Hong Kong Facing Housing Bubble Risk, UBS Says

San Francisco, London and Hong Kong are the cities most at risk of a housing bubble as real estate begins to look overvalued, according to UBS Group AG.

Sourced through Scoop.it from: www.bloomberg.com

Interesting concept of proposed government regulation to ward off speculative purchases in housing by investors. Whether it is rent control or limited investor purchases, squelching real estate investments could change the market significantly. Free markets accept the gain and loss of speculative purchases. Should housing be protected from speculative purchase as the bubble burst is more far reaching then other trade purchases? What do you think?

Build to Rent Strategy Gains Popularity Driven by Lack of Inventory, Surge in Rental Demand

10 percent of detached single-family households in the country (12.7 million out of 120 million) are renting.

Sourced through Scoop.it from: dsnews.com

Builders in Silicon Valley are recognizing “spec building” is not always automatically a sale.  It can also be a rental.  As the article points out, new sub-division builders are setting aside some of the homes for renters. 

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