Around this time, children are back in school after the summer break. While households with children commonly choose to buy a home in the late spring to get settled in before the new school season starts, rising home prices and a lack of homes for sale may mean more families have been forced to continue their house hunt into fall.
According to the National Association of Realtors 2015 Profile of Home Buyers and Sellers, 53 percent of families with children cited finding the right property as the hardest step in the buying process compared to 50 percent of buyers without children "Buyers with children have a slightly harder time finding the right property, likely because of their desire to purchase a home that best meets their family's needs or is in their preferred school district," said Tom Salomone, the national Realtor group president.
When it comes to the home search, for buyers with children under the age of 18 living in their home, it is no surprise that the quality of the school district and convenience to schools was a strong influencing factor of their neighborhood choice. Recent buyers with children cited quality of the school district as an influencing factor (at 50 percent compared to 11 percent with no children in home), as well as convenience to schools (at 46 percent compared to 6 percent).
"The excellence of our educational institutions is one of the biggest assets of Silicon Valley. Families move to the region because of its top schools," said Karen Trolan, president of the Silicon Valley Association of Realtors.
Trolan said the Realtors know that schools are a big draw to real estate in the area. The Silicon Valley Realtors Charitable Foundation, the charitable arm of the local Realtor association, each year donates a $1,000 scholarship award to a graduating senior from each of 18 public high schools within the association's service area.
"The scholarship program is our way of thanking the students who work so hard as well as our wonderful educators," said Trolan. "These educators are the reason why families, even those living overseas, want to live in Silicon Valley. "
Trolan said Silicon Valley Realtors also donate to the backpack programs for low-income students of the West Valley and Sunnyvale Community Services. Realtor members of the association are also encouraged to donate $250 of their commission to schools for every property they sell in participating school districts. Signs that say they support the schools are placed on the yards of homes they sell.
"We know schools are important to parents with children and that children are our future," said Trolan. She recommends contacting a Realtor familiar with the neighborhood and the schools in order to find the right home for a family.
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 email or call the SILVAR office at (408) 200-0100.