Posted by Eric & Janelle Boyenga on Friday, November 18th, 2016 at 12:33pm.
The Silicon Valley Real Estate market is picking up, after a typical summer slump, and less than stellar early fall #homebuyers are back again out in full force. The Boyenga Team expect’s an extremely strong Q1. For those #homesellers on the fence, early next year will be an ideal exit point. With pent-up demand chasing low inventory there is only one way for prices to go, and that is up!
As for the homebuyers expect multiple offers on most of the new inventory coming to market. One positive for homebuyers is that we do not expect the same amount of market exuberance that we saw in Spring of 2015, we still do expect many homes in the more affordable price points to reach new highs. If you would like a more in-depth overview of the market in your city or neighborhood, feel free to email Eric & Janelle Boyenga at Homes@Boyenga.com or visit www.SiliconValleyHousingMarket.com
Posted by Eric & Janelle Boyenga on Wednesday, September 28th, 2016 at 7:57pm.
Here are a few tips from the Boyenga Team for selling during the winter time.
#1- If possible have photographs of the home during spring bloom or different times of year when there is more color.
#2 – Stay away from religion specific staging/decorations, but stacked fresh wood in the fireplace, candles, and fluffy throw blankets can add warmth to a winter ambiance.
#3 – Don’t get discouraged. The open houses and showings will be lighter and days on the market may be longer, but there are less properties to compete against.
#4 – Winter is party time, so showcase the opportunities for entertaining in the home with an enticing display. Set out stacks of plates and fresh flowers on a dining room buffet or display holiday cookies on cake stands in the kitchen.
#5 Winter showings are often done after dark because of Daylight Savings, so make sure that you or the stager add extra lighting to the rooms so that the house feels warm, bright and inviting, not dark and cold.
#6 Make a festive impression as potential buyers approach with garlands or boughs and containers of greenery, branches with winter berries and a colorful welcome mat on the front porch or doorstep.
#7 Know the local football schedules. In many markets, having an Open House during a “big game” is asking for a slow open house. Be flexible with timelines and ask your agent to open early or stay open late to avoid competing with a popular local game.
#8 Hold a virtual Open House using #ChimeRoI CRM, Matterport 3D Tours, Live Chat, Facetime and allow prospective buyer/clients to virtually meet you, ask you questions on the property, the disclosures/inspections etc.
If you have more to add we would love to hear from you. Follow us @BoyengaTeam
Posted by Eric & Janelle Boyenga on Tuesday, January 19th, 2016 at 3:21pm.
In a recent Washington Post article about the entirely unique Silicon Valley real estate market, Eric Boyenga was quoted talking about his experience with buyers who have just entered this competitive atmosphere. With prices higher than the rest of the country, finding a home in one of the hottest markets in the country can be difficult for a few reasons.
Starting the article off with an anecdotal buying experience, Todd Frankel goes into the difficulty a married couple with two kids experience trying to find a home within their budget. Due to the fact that home prices in San Jose have a median value of $922,000, five times higher than the national average, they are constantly surprised by the perceived mediocrity of million dollar homes. But home buyers are not the only ones affected by high prices.
Frankel goes into the correlation between Silicon Valley tech companies and the current housing market. With prices as high as they are, it is becoming harder and harder for top executives to retain millennials and recruit new talent. The job market itself in the Silicon Valley remains one of the most desireable in the country, however steep housing prices shock incoming residents from other parts of the U.S.
“For people moving to Silicon Valley, home prices often lead to disillusionment”, said Eric Boyenga when asked about buyers who are new to the area. He goes on to say, “What you get for $4 million to $5 million here is what you can get for $350,000 in North Carolina.” With this vast discrepancy, it’s easy to understand why new residents do a double take upon seeing list prices across the Silicon Valley.
For the full Washington Post Article, follow the link provided below.
Posted by Eric & Janelle Boyenga on Tuesday, November 3rd, 2015 at 4:46pm.
We are pleased to announce that we have officially joined Sindeo’s Agent Advisory Council!
“Eric and Janelle Boyenga are two well-known Bay Area real estate expert advisors with Keller Williams Realty. Together they have been practicing real estate for more than 20 years and were recently ranked #132 on Real Trends “The Thousands” list for 2015.
As a successful husband and wife team, their success comes from knowing each other’s strengths and weaknesses, and maintaining open and direct lines of communication.
Eric’s familiarity with the neighborhoods, schools, and demographics throughout Silicon Valley is crucial in today’s market, while Janelle has experience in virtually all aspects of real estate, paying close attention to detail for all of their clients.
With more than two decades of experience, their real estate success is directly related to their innate ability to read and respond to the constantly changing market. As top agents in Silicon Valley, their track record speaks for itself. By continually focusing on their clients’ goals, Eric and Janelle deliver success with integrity, efficiency, and dependability.
We’re excited to have such proven individuals joining our Agent Advisory Council to offer industry insights and strategic guidance for the ever-changing real estate market.”
We look forward to a successful and prosperous relationship with our new team members at Sindeo!
Posted by Eric & Janelle Boyenga on Tuesday, November 3rd, 2015 at 2:41pm.
Are you thinking of making the transition from renting to buying, but aren’t sure if it’s cost effective? A study done by Trulia, which we have elaborated on below, explains why buying a home in Mountain View, Sunnyvale, and Cupertino is a much better option than renting in the current market.
Nationwide, it is 32 percent cheaper for millennials to buy a home than it is for them to remain renters. In a recent studyTrulia found that millennials have special considerations. They move every five years and they can only afford a 10 percent down payment. Even with these considerations in all but two of the U.S.’s top 100 metropolitan areas, it is cheaper to buy than rent. The two metros were Honolulu, Hawaii and San Jose, Calif.
One can understand why that might be. Since 2012, the cities of the Silicon Valley experienced rampant inventory shortages, bidding wars between dozens of buyers and double-digit price appreciation. Rents generally lag behind rapidly moving markets but have recently spiked by as much as 12 percent year over year.
So, are millennials doomed to be slaves of the ever onerous South Bay rental market? Possibly not. The assumptions in Trulia’s study are nationwide and not unique to the cities in the crescent connecting San Jose and the Peninsula. After much analysis, the key to millennial home ownership was discovered. Nationwide, homes appreciate on average two percent per year. In the Crescent, home values rise on average five percent per year. Rents in the South Bay are rising as much as 12 percent per year.
Three cities come up as winners using Trulia’s Rent vs. Buy Calculator with local data** Mountain View came up as the best place for millennials to buy. Median rents in Mountain View at the time of the analysis were $4,193 and median home prices were $1,330,000. We adjusted the down payment to 10 percent and the length of ownership to five years. The other default assumptions we modified were buyer closing costs at 3 percent, seller closing costs at 7 percent, renovation costs at .5 percent, 1 percent property tax, 5 percent rent increase, 5 percent appreciation and 6 percent discount rate (the opportunity cost of your money if it were put it into savings or other a different investment other than housing).
In Mountain View it is 27 percent cheaper to own.
Posted by Eric & Janelle Boyenga on Friday, May 22nd, 2015 at 10:35am.
April showers bring May flowers and for this year in Silicon Valley real estate, the rain came as housing demand. Sales price to list price is at an all time high, and the average Days on Market was at 20 last month. We know the housing market tends to flourish in the Spring, but this year is particularly remarkable. The stats all point toward a downpour of housing demand.
April 2014 compared to April 2015
March 2015 compared to April 2015
Median home prices improved by 3.7%
Clearly, the recent market stats translate to low supply and high demand. This is exciting news. But even more noteworthy is the long term analysis. Due to the thriving Silicon Valley economy and the demand from China, the sales price to list price ratio hit its highest level since April 2000. Yes, Spring is always a good time for real estate. But when it comes to the long-term forecast for Silicon Valley Real Estate–expect continued showers of demand from months, even years to come.
If you are interested in selling your home in the high-demand market, Eric and Janelle at the Boyenga Team have the proven results for getting you top dollar for your home or condominium. As bay area specialists with over 100 years of combined experience, our agent team will provide you the guidance and representation you deserve. Email our call our team at Homes@Boyenga.com/ 408-373-1660 for a free, expertly customized home analysis. To find out more about us feel free to google us or visit our websites, www.SiliconValleyRealEstate and www.Boyenga.com.
Posted by Eric & Janelle Boyenga on Wednesday, April 8th, 2015 at 12:43pm.
Silicon Valley is abuzz about Apple’s rumored secret auto lab located in Sunnyvale, California. With Appleinsider as a major source, bizjournal reported an intriguing article, Apple, SixtyEight Research, and a possible secret auto lab in Sunnyvale. This is exciting news for fans of all-things-green. Will Apple be joining the electric car race? If so, how will it play out and more importantly who will reign supreme? Time will tell…
Are you a proponent of Green Living and in the market for an Energy Efficient Home? We at the Boyenga Team specialize in Silicon Valley Real Estate and can guide you in your search for a Zero-Carbon Home .
Posted by Eric & Janelle Boyenga on Tuesday, April 7th, 2015 at 1:58pm.
The Silicon Valley Real Estate Market is hot and is expected to accelerate as the weather gets warmer. In a recent Forbes article, 5 Spring House-Hunting Tips From Real Estate Experts Across the Country, some helpful information is detailed that can actually be taken into account year round. As implied by the article’s title, the tips are generalized for real estate markets across the country. Let’s take a moment to tailor these tips to those looking for homes in Silicon Valley, California.
Tip #1 – Ditch Online Time and Hit the Ground Running to Open Houses
An important note highlighted in this tip was that tight springtime inventory can be seen nationwide, and warmer states will see the upward trend earliest. As evidenced in our Golden State’s current drought conditions, were are getting a whole lot of heat. Expect this to translate into an earlier, even hotter California housing market acceleration.
Tip #2 – Educate Yourself on Market Values and Trends
Silicon Valley’s very own San Francisco was featured in this tip, citing housing market data from the Case-Shiller 2014 home price index. In 2014, San Francisco saw the largest annual regoinal gain at 9.3% while other major housing markets like New York, Chicago, and Washington D.C. saw less that 2%. Another important homebuying tip: work with a well-connected, market savvy Real Estate Agent.
Tip#3 – Take Advantage of Low Mortgage Rates
Mortgage Rates are still low and will stay that way through Spring. Plenty of Housing market predictions point toward a climb in rates come mid-year. Here in the Silicon Valley, this will defintily add to the already intense homebuying fervor. Again, this is where working with a savvy agent is key. If you work with a top agent, they will get you in touch with top lenders–another way to stay ahead of the game.
Tip#4- Build Your Home Buying Dream Team
What better way to nab the home of your dreams than building a home buying dream team? Before you bid, a top agent can guide you in lining up your lender, inspector, and attorney. Some of the fiercest competition in the real estate market is in our own Silicon Valley. This is more reason to work with a team of pros who are the best in their field.
Tip#5- Remember Key Sweeten-the-Deal Strategies
In Silicon Valley, chances are your Dream Home will rake in multiple offers. One great tip to give you an edge on the competition is an escalation clause. This is a clause that details the amount you will pay above any competing bid. The article goes on to include a factor that is very relevant in the Silcion Valley Housing Market. “If you’re in a hot market, a significant escalation factor could really pique seller interest.”
These Homebuying Tips will give you a year round competitive edge on buying your home. A common theme throughout these reccomendations–you need the best on your home buying team. You need an agent who is market savvy, well-connected, and at the top of their game. Look no further than the Boyenga Team at SiliconValleyRealEstate.com. We at the Boyenga Team are a top Silicon Valley Real Estate Team who will give you the guidance and representaion you desevere.
Posted by Eric & Janelle Boyenga on Tuesday, April 7th, 2015 at 1:55pm.
Image found on buzzfeed.com
When you are searching for homes in Silicon Valley and a Real Estate Agent to guide you through the process, the last thing you want is to be led astray. Unfortunately, some agents may do just that. Their motive? The upsale. If you want a smart agent on your team, the pushy car-salesman-like , upsell-happy agent just won’t cut it. Let’s look at this topic a bit closer.
Who upsells? It’s the pushy sales guy at the jewelry counter who insists your wife would prefer a bigger diamond. Its the well trained waiter at the Italian restaurant who suggests dessert because, you know, the more carbs the merrier. It is for the commission. It is for the bigger tip. It is for the upsale. Yes, real estate agents make a percentage of your home purchase. But, that does not make it acceptable for an agent to send you troves of listings that are over your explicitly drawn out budget. It would be foolish for an agent to be motivated by an additonal couple thousand dollars in profit from a client who spent and additional $100,000. Smart, experienced agents are motivated by client satisfaction and maintaining a reputation of providing the guidance and representation their clients deserve.
Could a list of beyond-budget listings be an honest mistake? Of course. So, when the first few overpriced homes are sent your way by your trusted agent, there are a few things to take into consideration before you run for the hills to another agent.
Was there a budget miscommunication? It could be that your agent assumed your prequalification loan was your max budget. As always, it is important to take into consideration what you can afford versus what you are qualified for in terms of a loan. Also, some agents may confuse your wishlist as your “must have” list, so be clear about what you want, what you need, and how much you are willing to pay.
Are your dream home expectations realistic? Use a home search tool to examine what features you want in a home versus what you want to spend. Maybe your budget is $1.25 million and you and your young family desire a home in Cupertino, California. Great choice! Cupertino, CA is known for its top rated schools. Also, a 4 bedroom is a must have for you. Run your home search first with the area to get an idea of home prices in the area. Next, enter your max budget. The listings will decrease. Now enter your must have criteria one feature at a time. The listings will drop more and more. If you have a few homes that meet your criteria after your advanced search, including your max budget, congratulations! Owning your dream home can become a reality! Or, you may find that you may need to move to a less popular/prestigious neighborhood in the same school district. or maybe you would be ok with just 3 rooms, because perhaps the location is really the big must have for you.
How much home can you afford? As mentioned, spending some time on a home search tool will be helpful in really examining what you truly want in your home that is within your budget.
After you play with the home search tool a bit, you should have a better idea of what you are looking for in a home. Now you need the best agent to guide you along your Homebuying journey. You need a smart, experienced agent who is motivated by client satisfaction. A good place to start is looking at client testimonials.
Are you a looking for a home in the Nothern California Bay Area? We at the Boyenga Team are more than happy to provide you with the guidance and representation you deserve. Feel free to call us at (408) 373-1766 and get ready to embark on an honest, enjoyable, expertly guided homebuying journey.
Posted by Eric & Janelle Boyenga on Monday, March 16th, 2015 at 12:29pm.
Zillow’s Next Generation Agent Blog is an Elite Community of Real Estate Professionals, so theBoyenga Team felt it a great privilege and honor to be chosen to co-host the very first Zillow Twitter Chat for the next generation of real estate agents with Zillow CEO Spencer Rascoff.
Eric and Janelle Boyenga are a highly successful husband and wife real estate team specializing in Silicon Valley Real Estate in the Northern California Bay Area. They have been recognized as one of the top 100 real estate teams in the United States. Through their “Results Oriented Team Approach” Eric and Janelle have developed a perfect formula for providing their clients unparelleled representation.
Through the 30 minute #Twitter chat, over 450 tweets were exchanged. Different uses of technology and social platforms were highlighted in this #NextGenAgent Twitter Chat, with Instagram and Pinterest being some of the particularly hot topics.
The Boyenga Team known as being very tech and social savvy had some valuable insights from their tweets, as did many other real estate professionals throughout the country.
Eric Boyenga, a member of Zillows Agent Advisory Board, said “What a great way to address the tools and technologies that are helping us best represent our clients,” as he reflected upon playing a major role in this monumental event.
The Boyenga team would be happy to advise you on your Real Estate needs. You deserve the best, and the Boyenga Team can and will provide you with the guidance and representation you deserve. Feel free to contact us for a no obligation consultation.
Posted by Eric & Janelle Boyenga on Wednesday, March 11th, 2015 at 1:30pm.
541 Tioga Court is located in Remington Estates – a subcommunity of the highly desired Eichler Neighborhood of Fairbrae, Sunnyvale CA. The popular Mid Century Kay Home designed custom Ranch can be seen throughout Remington Estates. Some unique signature details of Remington Estates by Kay Homes include: three car garage, sunken living and family rooms, all copper plumbing, underground electrical and much more.
Close to schools, shopping, restaurants and entertainment, this community is in an ideal, convenient location. The Fairbrae Swim and Racquet club is a local favorite, offering private parties, swim and tennis lessons, yoga, open swim and much more. The small, quiet community of Remington Estates is bordered by West Remington Drive, Tilton Drive, and Utica Drive and is made up of 68 houses built by Kay Homes. Constructed in 1960, the vision of Remington Estates was to create a small community of larger, custom- type residences. This unique development boast mostly cul-de-sac locations set back on spacious oversized parcels.
After over a half-century, Remington Estates still maintains its small town charm. At the time of construction, these Kay Homes boasted an innovative kitchen design deemed the “Vista Kitchen.'” These kitchens include beautiful ceiling-high glass windows that are a source of ample natural light and give a cineramic view of children playing in the back-yard. When residents of Remington Estates venture out for work or play, they have easy access to all Sunnyvale and Silicon Valley has to offer.
If you are looking for a home in Remington Estates or in another one of the many desirebale neighborhoods in Sunnyvale, Eric and Janelle of the Boyenga Team can offer you the guidance and representation you deserve. Feel free to call us at 408-373-1660, or email us at Homes@Boyenga.com at your convenience.
Posted by Eric & Janelle Boyenga on Monday, December 1st, 2014 at 7:26pm.
Silicon Valley Real Estate Games: Go Team China!
Anyone involved with Silicon Valley Real Estate has heard the stories of buyers from China snatching up Local Real Estate with fiercely competitive all-cash overbidding. The Chinese presence remains strong in the US Real Estate Market and not just from buyers from China. Chinese Americans constitute the largest Asian Population in California, and they too, are making waves in Silicon Valley Real Estate. Whether from overseas buyers, or buyers here in the USA, today’s hot real estate market has created an intense air of competition.
Nevertheless, during a recent event in Cupertino, California, celebrating the new leader and officers for the Chinese American Real Estate Association (CAREA), themes of support, collaboration, and teamwork were interlaced throughout the words of each speaker.
Coco Tan, a Realtor with Coldwell Banker Residential Brokerage in Cupertino and member of the Silicon Valley Association of Realtors, will lead the CAREA this upcoming year. In her message to more than 300 Bay Area real estate professionals at the event, Coco Tan announced her “win-win networking” mission and desire to create mutually beneficial long-term networks and use these networks strategically to further business growth opportunities.
“When we work as a group, the end result is truly better than if we were to work independently,”
Christopher Isaacson, a Realtor with Coldwell Banker Residential Brokerage in Woodside and president-elect of the Silicon Valley Association of Realtors, administered the oath of office to Tan and the following 2014-2015 board directors and officers: Dexter Lat (Realty World One Alliance), immediate past president; Wilson Chai (Bank of America), vice president; Yuan Chang (Intero Real Estate), vice president; Barbara Kuang (Allstate-BnW Associates, LLC), treasurer; Joyce Sun (GD Commercial, Inc.), membership director; Jennifer Chen (JC Investment), public affairs director; Fay Yang (GD Commercial Real Estate, Inc.), secretary; and Keng Yang (East West Bank) marketing director.
“We are honored to support the Chinese American Real Estate Association in its goals and congratulate Coco Tan and the 2014-2015 board directors and officers,”
said Isaacson, as he administered to the oath of office to Tan and the board directors and officers.
David Tonna, 2014 president of the Silicon Valley Association of Realtors, congratulated Tan for her new title as leader of CAREA on behalf of the local Realtor association and pledged the association’s continued support for CAREA.
“The Silicon Valley Association of Realtors seeks to promote home ownership for everyone, regardless of race. We look forward to continue working together for the benefit of all current and aspiring homeowners,”
Competition is a vital aspect of Real Estate transactions, but it is also important to remember the value of teamwork.
The Boyenga Team has represented many overseas investors from China, Hong Kong, Singapore, Malaysia as well as throughout the world. If you are looking to buy a home in Silicon Valley, contact Silicon Valley Real Estate Specialists at the Boyenga Team who use teamwork to provide you the guidance and representation you deserve! www.Boyenga.com
Posted by Eric & Janelle Boyenga on Tuesday, November 4th, 2014 at 10:42am.
The Boyenga Team, experts in Silicon Valley Real Estate marketplace, take the growing popularity of the Agent Team Model to new heights.
There are over one million real estate agents in the nation, and as one of the top 100 Real Estate Teams in the US (Wall Street Journal), the Boyenga Team shines with superior brilliance.
The Real Esate Team Model was first introduced in the nineties, and due to the ever-increasing roles that real estate agents must assume, collaborating in a real estate team has become a crucial factor for success. In fact, many are calling Realtor Teams the future of Real Estate.
When consumers work with a real estate team, they have the advantage of working with a team of specialists as opposed to a one-agent show. The Boyenga Team goes beyond the typical benefit of working with a team, with proven achievements/results illustrated through such awards and accomplishments as:
The indisputable success of Boyenga Team can be credited to the first-rate fusion of member skill sets and talents. The Boyenga Team expertly applies over 100 years of combined real estate experience and backgrounds in design, communication, marketing, staging, spec-housing, construction and sales, to offer the guidance and representation their clients deserve.
These clients, happen to be some of the most satisfied around, which is clearly displayed throughout the ever rising bank of Boyenga Team Testimonials, including:
We are incredibly lucky to have discovered Eric and Janelle several years ago. Their professionalism, attention to detail, expert guidance, and overall “can do” attitude made home buying and selling a great experience.”
-The Collins Family
“There are people that do their job and do it well – and that’s something that should be expected – but the Boyenga team is clearly above those standards. It was a pleasure to do business with them!…”
– E. Redden
“We are incredibly lucky to have discovered Eric and Janelle several years ago. Their professionalism, attention to detail, expert guidance, and overall “can do” attitude made home buying and selling a great experience.”
Posted by Eric & Janelle Boyenga on Tuesday, November 4th, 2014 at 7:33am.
Ready, Set, Google! A top Silicon Valley company and the king of search engines is expanding its empire at rapid speed recently spending $1.6 billion in real estate deals. These transactions include $585 million for six buildings in an office park at Pacific Shores Center in Redwood City, California and an agreement to lease 55 acres in a six tower development in Sunnyvale, California.
“I just can’t point to another major technology company that’s taken down so much real estate in a relatively short period of time,”
-said Mark Kuiper, senior vice president with Colliers International in San Jose, California.
Google, based in Mountain View, has grown its workforce to over 55,000 employees. This is a 19% increase over the last year alone, and with newly announced plans for more hiring, more bodies mean more space.
Voted 5 years straight as Fortunes “Best Company to Work For,” Google strives to go beyond cramped mazes of cubicles. Googlers, with their vast abilities and creativity seem to need plenty of space to do what they do, and their company isn’t hesitating to give it to them. As mentioned in businessweek.com, rumor has it that “the properties Google purchased comprise about 934,200 square feet of Class A office space, as well as a 38,000-square-foot fitness center that includes a gym, pool and spa.” Pretty impressive, but would you expect less from a company whose name is also a commonly used verb?
You can google Silicon Valley Real Estate Experts, or click here to go right to the source.