With Prices In Silicon Valley At Record Lows, San Jose Real Estate Booms With First Time Homebuyers

Silicon Valley home prices are the lowest since 2004, making now a great time to buy. Popular San Jose condo community, Villa Valencia, has seen a large influx of homebuyers looking to capitalize on record low prices

Online PR News – 27-April-2009 – – SAN JOSE, CA – Villa Valencia, a luxurious community in San Jose, recently announced that due to the dramatic increase in affordability of Silicon Valley residential real estate, it has noticed a substantial influx of first time homebuyers looking to take advantage of record savings. Like most areas of the country, real estate prices in Silicon Valley have dropped considerably with the downturn of the housing market and current economic crisis over the past few years, making now one of the most affordable times to buy in recent history.

In fact, the median home price in this popular residential market is now at the same level as it was in early 2004. In the last quarter of 2008 alone, home prices in the metro San Jose real estate market plunged more than 17%. These dramatically falling home prices are music to the ears of first time homebuyers who have been priced out of the popular Silicon Valley residential real estate market for years.

“First time homebuyers are astounded at the affordability of Villa Valencia. Our competitive pricing combined with available state and federal tax credits and record low mortgage rates makes now an excellent time to buy. More importantly, at Villa Valencia buyers do not sacrifice luxury for value, as our beautiful new construction units are well appointed with luxurious designer features,” says Joanne Leeke, Community Sales Manager of Villa Valencia.

With prices starting at just $229,000, Villa Valencia currently offers among the lowest priced San Jose new homes in the market. Located near popular Santana Row, each condo and townhome unit at Villa Valencia comes standard with many stylish home features. Spacious kitchens in each unit are well-appointed with elegant granite countertops and modern appliances, and buyers can also select from beautiful maple or rich cherry finish cabinets to complete their space. For added convenience, the two-bedroom units feature an interior laundry area, and all units offer a one-car parking space in the community's gated, underground garage. Additionally, because of Villa Valencia's ideal location, many of its luxurious townhomes and condominiums offer breathtaking valley and mountain views.

"Due to the affordability of Villa Valencia and the surrounding area, home sales in Silicon Valley are expected to gain momentum throughout the remainder of the year. With competitive prices, tax incentives and low interest rates, buyers could not ask for a better time to buy. However, it is important for them to act quickly to take advantage of these incredible savings," says Leeke.

About the Reiser Group: The Reiser Group is a leading sales and marketing agency to residential property developers and specializes in new home sales throughout California and Nevada. They are committed to providing customers with the best service when purchasing a new home. The company has a network of mortgage brokers and title companies to make purchasing a home in the San Jose real estate market as simple as possible.

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