High Tech Salaries Influence Silicon Valley Housing

The Silicon Valley has the nation’s highest priced housing market. There are many factors which go into why home prices here are so much higher than elsewhere in the country. Supply and demand are two ends of the equation, and often very far apart. This has led to affordable housing being a challenge for many; but for much of the population working in the high tech industry, our home prices fit in line with their income.

I read an article recently in the Washington Post which highlighted the struggles some home buyers are facing in the Silicon Valley. It had some interesting points, comparing prices to other regions, and noting how many homes priced over $1 million are in need of updating or a lot of repairs, yet buyers still compete for them. There is more to the real estate market in the Silicon Valley than comparison to the rest of the country.

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The Silicon Valley economy operates differently than elsewhere in the United States. With this being the capital of the American high tech industry, our economy is an international one. It is here that businesses providing products such as Apple’s iPhone, services like Amazon Prime and social media apps like Facebook, are headquartered. These devices and systems have affect not only the daily lives of Americans, their impacts are felt world-wide. A great deal of money comes into the Silicon Valley from places such as China, Hong Kong, and Japan, the world fuels our economy here. Of interesting note, being a part of the world market, the Silicon Valley actually has cheap real estate in comparison to many other countries.

The Silicon Valley with its mild climate and access to incredible recreational areas from the coast to the mountains, has long been attractive to the movers and shakers of the high tech industry. This is an industry which takes many brilliant minds working in a variety of ways to succeed. Intelligent, successful and talented people are needed, which these businesses have been able to recruit continually.

Salary is a big incentive, and with our international economy, paying at higher levels is achievable, which in turn makes higher home prices affordable for many. While this region has a booming economy with salaries often much higher than the rest of the country, it is important to remember the majority of these people may seem wealthy to others, but they are still ‘regular’ working folks looking to provide a home for their families. Well educated people working in the high tech industry will be able to more money for the work that they do, in the Silicon Valley, they can find work that pays them accordingly.

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The Silicon Valley high tech industry is so strong we saw 60,000 new jobs created in 2015, and another 44,000 are estimated for this year, yet our housing supply doesn’t meet up with this influx of new residents. In 2015 only 5,000 new housing units were built in our region, and another 6,000 are planned for 2016. This is not enough to meet the demand, and is what drives the housing prices so high.

This region is looking into different options for housing to meet the demand. But this is done at local community levels and will take time to put into motion. In the meantime, the Silicon Valley is also very attractive for the real estate investor, as rental units are highly sought after. Our strong economy supports the housing occupancy ratio with high quality tenants.

When you are ready to buy or sell your home, working with a Realtor® who understands our economy and how it affects the housing market, will make a big difference. We at Haylen Group are here to help you with all of your real estate needs! As your buyer agent we will strive to work together and give you the best support we can. Call Helen Chong at (408) 800-LIST or email at Helen@HaylenGroup.com. You can also visit us at our website for available listings and additional information.

 

 

August Events

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Summer is coming to an end, but events and activities in San Jose, CA are still plentiful this month! The weather is great and there are activities for everybody!

Here are some things to do in the area:

Family Events

Target Summer Pops Festival: Free Music Festival from August 1-3 at San Jose State University at the Tower Hall Lawn
Santa Clara County Fair 2014: At Santa Clara County Fairgrounds July 31st -August 3rd: Has something for the whole family, entertainment, animals, magicians, shows, and more!
Vibe Fest: San Jose Soccer and Music Festival at San Jose Pal Stadium: August 2nd and 3rd: Soccer and entertainment at its best!
History Walk: August 9th at 1:30pm at Joseph D. Grant County Park–tour the historical features of the park.
San Jose Super Toy and Comic Book Show: August 16th at 11am at Santa Clara County Fairground
Silicon Valley Art and Food Festival: August 17th at 2pm in Cupertino Quinlan Road–Culinary competitions and appreciations with Free admission!
Ringling Bros & Barnum & Bailey’s Legends: August 20th at 7:30pm at SAP Center, Admission as low as $20 and adventures for the whole family!
Multiple theater and musical events are held throughout the month. More information with dates and times can be found in the Mercury News.
• Public libraries in the area hold different age story times and crafting opportunities throughout the month of August. Visit their site for specific dates and times.

Adult Activities
KraftBrew Beer Festival: August 2nd from 12pm-7pm at The Gordon Biersch Brewery–enjoy different beers, a brewery tour, and great food!
Wine Tasting Weekend: August 2nd at 12pm at Big Dog Vineyards
Free Shakespeare in the Park’s “The Taming of the Shrew”: August 1st through 3rd at 7pm at Memorial Park-Cupertino
After Hours: August 7th at 7pm at The Tech Museum of Innovation–enjoy science, technology, cocktails, and entertainment!
Tom Everhart Exhibition: The month of August from 10am to 6pm at the Peabody Fine Art Gallery in Menlo Park. Enjoy his art, which incorporates Peanuts characters into fine art.
After Hours Networking Expo: August 21st from 6pm to 9pm at The Glasshouse. Meet clients, professionals, and like-minded individuals.
SF Mixology: Different dates and times throughout the month. Learn how to mix drinks and have fun doing it!

Outdoor Events
Fossils and Flumes: August 2nd at 11am at Don Edwards San Francisco Bay National Wildlife Refuge.
ROC Race Bay Area: August 23rd at 8am at Santa Clara County Fairgrounds.
Family Camp at Yosemite: Open registration for camping and fun!
Happy Hollow Park and Zoo: Events, classes, camps and more for the whole family!

We hope you enjoy these activities and the sunny weather! We at The Haylen Group are here to help you with all of your real estate needs! If you are unsure what your options are, call Helen Chong at (408) 800-LIST or email me at Helen@HaylenGroup.com. You can also visit us at ourwebsite for available listings and additional information.

February 2014 Newsletter

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Haylen Group Inc. appreciates clients for participating with us on a Toy Drive

December 5, 2013

San Jose, CA – Haylen Group Inc. Inc was proud to participate in the toy drive held by Santa Clara County Association of Realtors. We had donated 14 toys to the foster children and teens within Santa Clara County (http://www.kafpa.org/) with the help of our clients. We wouldn’t have been able to have done it without your support! Thank you all for your contribution. As we grow our business, we will continue to support different charities throughout the year and will need your help also! Please come back to look for more updates!

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Helen Chong sharing her winning dish recipe with everyone

October, 2013

Santa Clara, CA – Distinctive Taste Magazine October Issue featured Helen Chong’s, the broker of Haylen Group Inc., recipe of her winning dish – Yellow Rice Manua, at the 3rd Amazing Taste Silicon Valley Food and Art Festival.

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Help Haylen Group Inc to be eligible for $250,000 Grant from Mission Main Street Grants

October 22,  2013

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Local Business, Haylen Group Inc., Needs Support to be Eligible for $250,000 Grant from Mission Main StreetSM Grants

Help Haylen Group Inc. Grow by Voting Online Before November 15

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Local Chinese TV station interviews Helen Chong, broker owner of Haylen Group regarding the most common questions about buying and selling real estate (Mandarin)

Friday September 27, 2013

SANTA CLARA, CA – Diana Ding, founder of Ding Ding TV, interviews Helen Chong, broker owner of Haylen Group regarding todays’ most common questions about buying and selling real estate. Through this interview, audience will get to know Helen Chong’s personal story and background, and her views about the importance of real estate investments. She also demonstrates in this video the power of real estate investments and how it can secure your retirement dreams in just one simple way. (Language: Mandarin. For English subtitle, please be sure to turn on cc on the bottom right corner of the video)

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Haylen Group congratulates Helen Chong’s winning at Cupertino 3rd Amazing Taste Silicon Valley Food and Art Festival Cooking Contest

Saturday July 13, 2013

CUPERTINO, CA – Haylen Group is proud to announce that Helen Chong won the FIRST PRIZE in the Cupertino 3rd Amazing Taste Silicon Valley Food and Art Festival , held by Ding Ding TV. The prize was presented by Orrin Mahoney – Mayor of the City of Cupertino, George Shao – President of Distinctive Magazine, Angela Chen – General Manager of Sina.com. Helen Chong is very excited to have won, although, her intention was solely to participate in a fun and engaging community event and share some of her most favorite dishes. Seeing so many other beautifully and creative dishes, she was utterly surprised of her winning. Helen wants to extend her special appreciation to DingDingTV to allow her this opportunity to re-engage her cooking creativity, Sharon Lou from Bayseed Education Center for continuing encouragement, her husband and children for the support and her taster/Haylen Group’s very own lead buyer’s agent, Susanna Leung, to help tasting and coordinate everything during the competition.

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Haylen Group partners up with LessThan6Percent.com

Wednesday June 19, 2013

SAN JOSE, CA – We are excited to announce that Helen Chong partnered up with LessThan6Percent.com website and they had featured Helen Chong as one of the leading Listing Agents in the Silicon Valley area!

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