The San Jose Mercury News recently shares (yet) another article on how the hiring frenzy at companies like Facebook and Google is creating huge demand for new homes. These big time silicon valley companies are adding thousands of new positions to their payrolls. This means an influx of new workers all looking for a place to live, and builders like SummerHill are working really really hard to offer housing to these folks.
SummerHill Homes, like many area builders, is running low on new home inventory. Our prices are competitive, the quality of the product is well known, and the locations are second-to-none. Midtown Village (a short walk to Santana Row in San Jose) has just a few homes left and we think they won’t be around at all in a few weeks.
The thing is that data shows that the costs for land (and for homes) have seen nearly 50 percent increases in just the past two years. So with demand huge and prices like these, the next communities that every builder offers are going to cost even more. We keep writing about this because any home shoppers, even just the passive ones, who are on the fence, really, its buy now or spend a lot more when you buy later.
Don’t say we aren’t warning you…