Spring at last !

but it's still tax time ...enjoy the blooms, suffer the taxes

Our Bay Area Melting Pot of Culture , Diversity, Cuisine and Sensibility

What I love about this area is the fact that I can walk down many streets here in Silicon Valley and hear 4-5 lanuages spoken on any one day. With that, our area is bursting with fabulous restaurants with tastes from around the world and a community that is full of complexity of culture and intellect. If I had a super power it would be to understand every language that was spoken. My father spoke 5 and his ability to forecast what would happen in the world was remarkable.

It's no surprise that the East Indian population of Alameda and Santa Clara counties represent the largest immigrant group totaling about $250,000 in those counties. Mostly engineers and high tech workers, more than 1 in 5 residents are Indian born. They are not just coming from India but from other states in the US as well after landing on our shores. Combined they would create the 4th biggest city in the Bay area.

In the last 10 years the population has doubled.

Its no surprise that as India has become the most populated country in the world our area with good economy and opportunity is a driving force for immigration.

I enjoyed visiting a Gurdwara recently with a coworker and was amazed at the peace and community feeling there. I enjoyed a hot meal and the companionship of a family in simple worship and repose.




ANOTHER real estate boom - how long will this one last ?

Read this article about the 10 most expensive sales in San Jose the week of March 11.

Interest rates have not changed that much since they rose last year but the stock market is giving people extra cash to purchase and continuing low investory and high demand drives the market.

The median price of a single family residence in Santa Clara county has reached $1,921,000 or approximately a whopping $11,983 per month with taxes and insurance. The average price of a home in the county is $1,635,000 and those homes are on the market 17 days max. Condos and townhomes are a more complicated story.

Many buyers however are waiting until the rates drop presumably before the presidential election. I suspect sales will slow after April and rebound around August. Based on the market slump at the end of 2023 my advice to sellers is ride the wave and try to sell before June of this year. Call me to find out whether your property is best to sell now or wait.

And from Me on Taxes

A common thing I hear from potential sellers thinking about selling is "what about capital gains?" It may surprise readers that a 1031 exchange is possible on a primary residence. This article from Paul Getty describes how it can be done. It takes some time and forethought but the result can mean hundreds of thousands of savings and / or a new home plus a future rental with income from the second residence. Areas like San Diego, Phoenix, Seattle are booming and prices are low compared to Silicon Valley, whereas rent may be quite high. Since your children can no longer inherit the tax base of your primary residence when you pass, that is another incentive for improving your own living situation now.

Silicon Valley Market Update

Whether you are buying, selling, investing, or just curious about real estate, I would love to be your sounding board! As a top-producing luxury agent with over 34 years in the business, I'm here for you every step of the way. Contact me to chat and start your real estate journey together.

How's the Market Doing?

The Bowtie Economist

Elliot Eisenberg, Ph.D. is an internationally acclaimed economist who discusses how economic factors impact the Bay Area real estate market. WHY ARE INTEREST RATES SO HIGH?

Listen Here

Sandy Kay




DRE: 01038967

KW Bay Area Estates DRE: 01526679

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