Metro home prices cool, but appreciation is strong
Realty association's 1st-quarter numbers reveal median prices

Silicon Valley is one of the most expensive places to live in the United States with the highest median home prices, while two other areas in California claim second and third place compared to the rest of the metro areas in the nation.

The growth in single-family home prices continued to cool in the first quarter, but many metropolitan areas are still showing double-digit annual gains, according to the latest survey by the National Association of Realtors. At the same time, metro area condo price appreciation has generally cooled to normal levels.

Complete article: Click Here

Free wireless access expands to downtown Sunnyvale
At noon on any given weekday, Sunnyvale's downtown is packed with high-tech employees looking for a cup of coffee, pub-grub lunch or just a few minutes relaxing in the sun. Ironically, those same employees--from places such as Yahoo! and Network Appliances--have to struggle to find wireless access for computers and other devices because, aside from a small number of coffee shops and restaurants, the downtown lacks wireless internet access. But in a few months, 10 square miles around the Caltrain station's parking structure at Frances and Evelyn avenues could have free coverage from MetroFi Inc., the company already providing service to select parts of the city.

Sunnyvale's Downtown mall project could return to city soon
If all goes as planned, the Town Center Mall
redevelopment project--now half a year delayed--could be back on track by the end of June, bringing an end to months of worry, rumor and speculation in Sunnyvale.
But the project, if completed, would look significantly different from the plan the city has seen in the past. Target and Macy's could both be upgraded, with Target undergoing a complete closure, redesign and reopening that could last up to a year.
Complete Article: Click Here

Animated Fly-Through of the future Sunnyvale Town Center “The Forum”
Note: this takes about 20-30 seconds to start but worth the wait!

Sunnyvale Art & Wine Festival
Mark your Calendars!
Event Date: June 3-4 2006
Event Time: 10:00 AM to 6:00 PM

One of the largest events of its kind in California featuring Arts and Crafts from over 500 vendors, wine tasting from regional wineries, beer from local breweries with 25-30 food and beverage booths run by and benefiting local charities. There is live entertainment and a children?s area is available for the young to play in the sun. Come join the 150,000+ at one of the largest festivals in Northern California.

For more information: Click Here

City of Sunnyvale On-Line Building & Planning Permit Services
This is a major time saver! If you have ever had to go through the building process you can really see the value in these on-line services offered by the City of Sunnyvale. They are also offering a free tree removal permit for one & possibly more trees.

After opening the page I would bookmark this one: Click Here

Hands on the Arts Festival, May 20
Sunnyvale's 21st annual Hands on the Arts festival will be held Saturday, May 20 at the Sunnyvale Community Center.
Learn more about Hands on the Arts.
Read the news release.

Sunnyvale Participates in Bike to Work Day on May 18
Commuters in Sunnyvale are encouraged to join others throughout the Bay Area on Thursday, May 18, leaving their cars at home and biking or taking public transportation to work.
Read the news release.

Home Buyers Survey Says...
Here are results to a recent survey by Prudential CA/NV/TX Realty... For homes Buyers purchased over the past 3 years:
- 36% found their home through a REALTOR
- 31% found their home through the Internet
- 18% found their home via the yard sign (driving by)

This survey has similar finding as the 2005 survey by the National Association of Realtors. In that survey, they ask Buyers who have purchased within the last year (not 3 years).
In that survey...
Internet is #1
other Realtors is #2
yard sign is #3

Other info from the Prudential survey: When buyers were asked to identify the most important reasons for visiting a real estate Web site, the top three responses were:
"looking at property photos," 89 percent
"property search," 85 percent; and
"mapping a property," 77 percent
About 91 percent of respondents said they most enjoyed using the Internet for their home search because "it saves time," while 45 percent said "it empowers you in the transaction." This shows that when selling your home, the REALTOR you chose to list your home must be on top of marketing over the Internet in every way possible.
The MLS is no longer the only game in town.
Comments or questions about Real Estate Internet Marketing please email me at Mark@ThomasonTeam.com

Can we expect this type of Residential building in Sunnyvale or Silicon Valley any time soon?...

Nakheel, a development company, this week announced a radical, sci-fi-like design for a $600 million hotel and residential building planned on a palm tree-shaped island off the coast of Dubai. The previous design looked something like a giant golden egg or pineapple. The 48-story Trump International Hotel & Tower will be built on "The Palm Jumeirah" island, the first of three planned man-made islands.

My Recent Listing in Saratoga...

Beautiful Ranch Style Home that is completely remodeled inside & out. Located on 1/3 of an acre, refinished pool & decking, 3-car garage with new carriage doors, and city park across the street. Cupertino Schools: Blue Hills Elem., Miller Middle, Lynbrook High School

Preview this home with over 30 photos, complete floor plan, and a full screen walk-thru with audio at:
www.12316scully.com

Please let me know what you think...

Downside to buying a brand-new condo - Lawsuits, assessment fees become major issues
When shopping for a condominium, brand-new condos have the widest appeal to prospective buyers. However, buyers of brand-new condos should be aware most new buildings have construction defects. The best builders and developers quickly correct any construction problems. However, many defects aren't discovered until several years later.
Then it is up to the homeowner's association, or HOA, to sue the builder and/or developer to remedy the construction defects. Reportedly, more than 80 percent of California condo HOAs have brought construction-defect lawsuits against their builders and developers. When a HOA is involved in a lawsuit, most mortgage lenders refuse to originate new mortgages in that condo complex, thus virtually halting resales except to all-cash buyers.
Comments or questions please email me at Mark@ThomasonTeam.com

MasterCard couldn't say it better...
The median price of a single-family home in Silicon Valley--$760,000.
The average rent of an apartment in Silicon Valley--$1,359.
The cost of living in Silicon Valley? Priceless.
In the land of technology and sunshine, it doesn't appear to matter that fewer than one in five residents can afford to buy the median-priced home or that renting a decent apartment requires a two-income household.
Living in Silicon Valley isn't always easy, but life is just too good here to give up over something as trivial as a three-quarter million dollar home.
Please email any comments to me at: Mark@ThomasonTeam.com