Alan Bologlu, Real Estate Pro in Los Altos, CA

Luxury Real Estate in California

Asked by Alan Bologlu, Los Altos, CA Sun Sep 21, 2008

Representing a Luxury brokerage Firm in the Silicon Valley area of California we are seeing a huge influx of foreign investors for both commercial and residential properties. Our niche market seems to be moving well. We have also seen an increase in the relatively slow move up market. Is anyone experiencing the same conditions in there areas of influence?

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Eric Trailer, , Palo Alto, CA
Mon Sep 22, 2008
Good evening Alan,
Yes, we have seen quite a bit of increased interest from foreign investors looking to take advantage of the relatively inexpensive US dollar to purchase properties. Fortunately, despite the challenges in the credit markets, foreign national financing is available with a strong equity position of at least 30%.. And now with the US governement's explicit intent to stabilize the housing market, even greater liquidity/borrowing will become available with each passing month.
Seventy years ago, we would be looking at bread lines; today, we're looking to recovery in a year.
OK, let's not talk about the tax implications for now.
Kindest regards,
1 vote
Sylvia Barry,…, Agent, Marin, CA
Mon Sep 22, 2008
Hi Alan:

You are quite right. I have quite a few Chinese, or South East Asia clients who are looking at properties here in the Bay Area - where they prefer to stay - takng advantage of the softening market and weaker dollar to buy properties here in Marin.

Although may prefer South or East Bay due to the more diversified situation there, but many are moving to the north bay, specifically Marin because they have decided Marin provides a better quality of life and have great schools here (sorry, exactly what a few of those said).

On one hand, you'd feel back for local buyers, but on the other hand, it's a good thing because foreign investors putting money in the market will stabilise the supply side of the housing market and keep the price more stable.

Good question.

Sylvia Barry
Marin Realtor
0 votes
Janie and Jo…, Agent, Palo Alto, CA
Sun Sep 21, 2008
Alan, I can affirm that the mid-Peninsula is still quite strong and has generally remained so throughout the recent turmoil. There are certainly pockets of exceptions, but much of Palo Alto, Menlo Park, Atherton, Portola Valley, Woodside, Los Altos and Los Altos Hills (to name a few) have remained strong and could be starting to strengthen further.

The key as always is for buyers and sellers to work with an agent with exceptional local knowledge to point them to the best areas, properties and values that meet their criteria.

John Barman
Coldwell Banker
Palo Alto
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David, , La Jolla, CA
Sun Sep 21, 2008
Absoultely, areas like RSF, Fairbanks Ranch still are doing well. Phil Mickelsons house is currently on the market for a low $22 million...
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