Off-market transactions frequent in competitive Silicon Valley real estate frenzy
In a region known in the Bay Area for its high-profile IPOs and high-tech wealth, the competition for real estate is so intense that some homebuyers and sellers are opting for off-market sales.
This is all happening in a recovering market, which some Silicon Valley real estate agents say is causing a flurry of activity these days.
“When people ask me, in a word: it’s crazy,” said Keri Nicholas, a Menlo Park real estate agent at Coldwell Banker. She sold property worth over $100 million in 2011, giving her the top share for home sales in Menlo Park, a city on the Peninsula known to draw buyers because of its reputation as one of Silicon Valley’s prominent hubs. Continue Reading >>