Home Buying in Mountain View>Question Details

Stephen Lee, Home Buyer in Mountain View, CA

Ex-Mountain view resident and now wondering why is Mountain view gathering momentum on real-estate price

Asked by Stephen Lee, Mountain View, CA Fri Jan 17, 2014

I left Mountain view 10 years ago and I am now trying to buy a home in Mountain view. Just wondering what is driving the prices in Mountain view higher that I did not see 10 or 5 years ago. I now see a large section of Mountain view prices with reasonably old homes(1940s/50s) at $1M and higher.

Please chime in your thoughts. Thanks

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Answers

6
MOUNTAIN VIEW BECOME THE START UP CITY... BESIDE BORDER OF LOS ALTOS AND PALO ALTO ALSO A LOT OF COMPANIES HERE THAT IS LISTED IN THE S&P 500. $$$$$$$$$$$$$
1 vote Thank Flag Link Tue Feb 11, 2014
Good economy, even higher priced neighbors to the north like Palo Alto and Los Altos, lack of housing, proximity to good employers, good climate, etc., etc,. etc.
Web Reference: http://talisrealestate.com
1 vote Thank Flag Link Sat Jan 18, 2014
It is the 101 corridor. Anything and everything along that route is growing in population and thus price. Supply and demand

Alex Greer
Loan Officer
NMLS #1056079
http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Sat Jan 18, 2014
Juliana is right that jobs are the primary driver. With employers like Google, Mtn View has exploded.

But it's not only jobs,- the city itself has transformed. The downtown is now extremely popular and is a hot destination on Friday and Saturday nights. Younger people want to live near it or within walking distance. (Decades ago the downtown was really a dead spot). The homes around downtown were typically built in the 40's and early 50's and today are very much sought after due to proximity to employers like Google as well as their "cool" location, leading to the prices you are seeing.

Good luck with your search. I know it must be frustrating to see today's prices vs what they were when you left. If I can help you in any way feel free to give me a call.
0 votes Thank Flag Link Sat Jan 18, 2014
The improving economy on a national level, is driving the real estate market in desirable areas.

J.R. Thrasher
http://www.SanDiegoRealEstateVeterans.com
(619) 929-0105
RealEstate@JRThrasher.com
0 votes Thank Flag Link Sat Jan 18, 2014
The short answer is that jobs drive housing prices. If an area has more employment opportunities than other areas, people will tend to move to that area. Although our local economy is not as strong as it has been in the past, it is one of the stronger areas in the nation. Additionally many of the jobs here pay much better than nationwide averages. If you compare home prices in Mountain View to either Palo Alto or Los Altos you can see why Mountain View home prices are rising, especially new homes.

The average price for a Mountain View home is about $1.4M
http://julianalee.com/mountain-view/mountain-view-statistics.htm

The average price for a Palo Alto or Los Altos home is roughly $2.3M
http://julianalee.com/palo-alto/palo-alto-statistics.htm
http://julianalee.com/los-altos/los-altos-statistics.htm

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000
juliana@silicon-valley-homes-for-sale.com

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
Web Reference: http://julianalee.com
0 votes Thank Flag Link Sat Jan 18, 2014
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