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REALTOR®: Real Estate Consultant Sees Value in Silicon Valley Real Estate

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Wednesday, November 5, 2008

Carole Rodini, a dynamic speaker, author and real estate consultant, spoke at the October 31st Los Altos/Mountain District tour meeting.

Carole Rodini, a dynamic speaker, author and real estate consultant, recently gave members of the Silicon Valley Association of REALTORS® her analysis of the economy, the state of the housing market, and her projections for the future.

The past president of Alain Pinel in Silicon Valley and past COO of Cornish & Carey Residential Real Estate described the month of October as the "most volatile since the Great Depression," with the stock market ups and downs and fear built in the market as investors saw stocks lose 40 percent of their value in the last two months.

Rodoni believes the country has been in a recession since mid-2008 and she expects the situation to last through 2009. "It will take some time before we get some stability, and it will be a long climb back up. Lending needs to open up before we can see a real improvement in the market," she said.

The change in the housing market has brought a new type of client, according to Rodoni. In 2002, clients were "emotional"; clients today are asking serious questions about real estate as an asset, which is good because when compared to other assets like the S&P, if held over time, Rodoni still concludes real estate has done better, especially in Silicon Valley.

"Real estate is very protected here in Silicon Valley," Rodoni told REALTORS®. "You have value in real estate here because land is limited; land is so very dear, so it holds its value better. You are lucky you have no place here where sales and prices are going down drastically. Some areas don't have a real estate market to speak of."

She advices sellers to be realistic in their pricing.

"Sellers should not get into the discount business," she warned. "Sellers need to be very aggressive in their pricing. You need to set the price of a home at fair market value. If you price it correctly to begin with, there will be no need to discount. If you start discounting, the market will deteriorate."

Rodoni advices buyers sitting on the fence to buy now if they are serious and can obtain a loan. She said there is no point waiting for interest rates to change because it's a trade-off - as rates are lowered, fees are added, making it expensive across the board.

 "The key for buyers is to get in and get their loan approved," said Rodoni. "It doesn't matter what the interest rate is; you can always shop around once you get your loan approved."


The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.

The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Variations of this article have appeared in local area newspapers.

For further information, please contact Rose Meily at SILVAR Public Affairs, email , or phone (408) 200-0109.

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