Wednesday, August 20th, 2014
The San Jose Mercury News recently shares (yet) another article on how the hiring frenzy at companies like Facebook and Google is creating huge demand for new homes. These big time silicon valley companies are adding thousands of new positions to their payrolls. This means an influx of new workers all looking for a place to live, and builders like SummerHill are working really really hard to offer housing to these folks.
SummerHill Homes, like many area builders, is running low on new home inventory. Our prices are competitive, the quality of the product is well known, and the locations are second-to-none. Midtown Village (a short walk to Santana Row in San Jose) has just a few homes left and we think they won’t be around at all in a few weeks.
The thing is that data shows that the costs for land (and for homes) have seen nearly 50 percent increases in just the past two years. So with demand huge and prices like these, the next communities that every builder offers are going to cost even more. We keep writing about this because any home shoppers, even just the passive ones, who are on the fence, really, its buy now or spend a lot more when you buy later.
Don’t say we aren’t warning you…
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Wednesday, August 13th, 2014
Midtown Village brings a sophisticated urban feel in Santa Clara, near Santana Row in San Jose. The community is divided into “The Boulevards” and “The Avenues” (with “The Avenues” now totally sold out). At “The Boulevards,” there are only five homes left including the already-decorated model homes.
All the homes here are over 2,200 square feet and are two-story single family detached homes with backyards. So you get this beautiful neighborhood feel. But you also get lots of walkable retail destinations and fun restaurants and nightlife.
Santa Clara is home to some of the priciest real estate in the country and buyers won’t again have an opportunity to buy new for these prices. With only five homes left, this is your last call!
Wednesday, August 6th, 2014
As summer vacation comes to a close, it’s time to start thinking about going back to school. While kids might not want to think about school just yet, now is the perfect time to start preparing them for the new school year. Here are some tips that can help ease the transition from summer to school:
Adjust to a new routine
Get them excited for the new school year
A little preparation before the first day of school can go a long way in helping your kids start a new school year on the right foot. If you are looking for a new home near top-ranked schools, check out Evergreen Place.
Wednesday, July 30th, 2014
The Silicon Valley Business Journal this week writes about upcoming SummerHill Homes plans in the valley, and the article is worth sharing.
The largest piece of undeveloped land in Las Gatos has been eyed hungrily by developers for years, for its location and because there is so much demand in the area. Finally, after much debate, the area is being developed. A company out of London, called Grosvenor Americas, went into contract with the area’s largest landowner in 2010. In April, the project became a partnership with us at SummerHill Homes and affordable housing developer Eden Housing.
The process won’t be huge, but it will provide much needed new housing in an area with a serious limitation of available homes in a thriving economic environment. And we’re pleased about the partnership and potential.
Wednesday, July 23rd, 2014
The San Jose Mercury News recently ran an article on how the San Francisco Bay Area housing costs are impacting the new home market.
Land costs have gone up at least 40-50 percent in the past two or three years, Smiley said, ranging now from $3 to $4 million an acre in San Jose, to $5 million on the Peninsula and $3 million for East Bay sites near Silicon Valley’s booming job market.
These land costs probably will translate into greater densities and more expensive housing when the new developments come to market.
SummerHill Homes maintains a commitment to building a quality product that will stand the test of time, and we build for a variety of buyer profiles. (See our list of Bay Area homes for sale for info.) Our goal is to always offer a fair market price for the product built, and to spare buyers the drama of bidding wars.
In the same San Jose Mercury News article, we meet Octavious Mendoza, a mobile app developer who is looking at homes in the $600,000 price range. Homes he describes as “old, and not very nice.” Mendoza also said, “new homes are preferable” because “you can’t go wrong buying a house in the Bay Area. The technology industry is not going away.”
We agree. If you are going to buy new, and we think you should, then now is a great time to do it. Because all builders will be asking more when they release their next round of new home communities.
Wednesday, July 16th, 2014
Big news today about California’s drought: the San Francisco Chronicle reports $500 per day water fines have passed the California legislature. Water wasters now face serious penalties, so now seems like a good time to share some water saving tips for our Bay Area new home owners.
Wateruseitwisely has an abundance of information on judicious water use including tips for kids, tips for indoor and outdoor water use, plant care, and even a monthly water planner. We took a look at the list and learned a few things we though worth sharing:
These are just a few tips. With the drought expected to last through 2015, even if this is an El Nino year, we’re all going to be expected to conserve water, and pay fines if we don’t.
Thursday, July 3rd, 2014
What are your plans for the 4th of July and the long weekend? The sales team at our bay area new home communities will enjoy the most welcomed day off (and reopen for the weekend traffic on Saturday). With the day off approaching, everybody’s been talking about where to go celebrate the holiday, and some folks did some research into various festivities, and we figured we’d share with you a list of ways to celebrate Independence Day in the San Francisco Bay Area. Check out the list, let us know if there are any big events we’re missing. Enjoy the holiday!
San Francisco Fourth of July Waterfront Celebration. Music and fireworks display over San Francisco Bay. The party starts at noon and the fireworks are at 9:30 p.m. The main events are at Pier 39, Beach Street and the Embarcadero. Many of the hills throughout the city will offer great views and there are parties all over. If that fog rolls in, though, you might be looking at illuminated, flashing fog unless you are nice and close. Free admission.
San Jose 4th of July Celebration. This is the first time in years San Jose has hosted a world class fireworks show. Its near Midtown Village and the main event is at Discovery Park.
Morgan Hill Independence Day. July 4 begins with a 7:45 a.m. five-kilometer walk/run at P.A. Walsh School followed by a parade. Then there’s a car show. Fireworks and celebration starts at 6 p.m. at Morgan Hill Community Park. Fireworks at dark.
Palo Alto Summer Festival and Chili Cook-Off. July 4. Starting at noon a lot of awesome local chefs battle for the championship of chili. Here’s your chance to enjoy an array of red-hot chili delicacies. Live music, dancing, children’s activities, food vendors. Noon-5 p.m. Mitchell Park, 600 East Meadow Drive.
San Jose Giants Fireworks Extravaganza. The single A ballclub of the San Francisco Giants will host the Stockton Ports July 4 and July 5. Fireworks begin following each game. Game time is 6:30 p.m. Municipal Stadium, 588 East Alma Ave., San Jose.
USS Hornet Museum Independence Day. Live music on the flight deck, interactive games for all ages, prizes and a bounce house for kids. Tours of the famous aircraft carrier throughout the day. Fireworks from other Bay Area events can be viewed on deck. 1-9 p.m. July 4. 707 W. Hornet Avenue, Pier 3 in Alameda. $20-$25, $10 children.
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Tuesday, June 24th, 2014
The Pacific Coast Builder Show (PCBC) happens this week at Moscone Center in San Francisco. In the world of new home construction, PCBC is one of the best ways for home builders like SummerHill Homes to remain at the forefront of what’s hot in real estate. We get to go to education seminars to learn about trends in everything from paint color to housing economics to customer service training. We also get to network with lots of other home builders and take a break from being competitors to instead share experiences and learn how to best service our customers. Plus (confession!) everybody from banks to doorknob manufacturers wants to chat and we’d be lying if we said we didn’t enjoy the attention.
Are you attending PCBC this week? Let us know and we’ll make a plan to meet up.
Wednesday, June 18th, 2014
We read with interest a recent Q&A with Lawrence Yun, the chief economist for the National Association of Realtors (NAR), that ran in the San Jose Mercury News. Yun is a man who, when he speaks, everyone interested in real estate listens. His predictions and observations is closely analyzed across the country and in the halls of congress. As a builder of new homes for sale in the bay area, we were especially interested in his thoughts on how creating more housing can ease the pain of high home prices, and on whether or not we’re seeing a bubble in bay area residential real estate (Yun says there is no bubble). Some highlights:
Yun is asked whether he saw a bubble before the 2008 crash. His response:
Lending was opening up to a point at which there were no underwriting standards. It clearly was abnormal. It was … a misalignment of all the fundamentals.
Yun looks at bay area real estate prices and contrasts now to 2008:
Underwriting standards are much tighter. People who get mortgages are meeting very strict standards. Second, there are large cash transactions. People are cashing in stock options and Asian buyers are coming in with all cash. Any time there are cash transactions and higher down payments, the risk of potential decline is reduced.
The market is still in recovery mode. Together with tighter lending standards and crash transactions… there’s less risk.
We think the article is worth reading in full here
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Tuesday, June 10th, 2014
SummerHill Homes is currently selling a variety of new home communities in the San Francisco Bay Area. We want to update you on all the communities, basically because recently much of the attention in the press has been just about Las Palmas, an attached homes community in Sunnyvale. (The first release sold out in the first 10 minutes. We averaged about ten offers for each home sold. The next release went even faster with 100 offers in five minutes, and all the homes sold instantly.) We want you, dear reader of this blog post, to get an update about the other communities for sale. You’ve been asking, so here you go:
Midtown Village – New Single Family Homes in Santa Clara: The final releases are now selling. 3 “Avenues”, 3 “Boulevards”, and 2 Model Home “Boulevards” remain.
Evergreen Place – New Townhomes and Single Family Homes for Sale in San Jose: Final homes just released, only two model homes remain for sale.
Roubion – New Single Family Homes in Santa Clara: Final release (just five homes) scheduled for late June or early July.
Astute readers will notice there are some model homes for sale, still. The model homes are homes we use to “stage” for potential buyers what you can do if you buy one of our homes. These homes are saved for last, and, because the model homes are the homes we use to demonstrate the best possible example of our homes for sale, the model homes are a great buy. Model homes are now for sale at Midtown Village, Evergreen Place, and soon for Roubion.
We’ll post back here with news on some other exciting developments, coming soon.
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