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Why is cupertino so hot, now! zip codes 95014, 95129...


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2011 Apr 14, 3:33pm   14,649 views  75 comments

by desibaba   ➕follow (0)   💰tip   ignore  

I rent in cupertino and have keep a close eye on nearby market for around 5+ years. Recently, looking at some close by properties at trying put offers after 2 years of hibernation, i see that there is extreme craziness - just w.o ARMs.
All offers are at least 80-100k over asking, clearly over what they deserve and way above zestimate. All of them are most all cash, no contingency. Is it extreme craziness or just pent up demand? Or is there other explanation...

http://www.redfin.com/homes-for-sale#!lat=37.30534318364492&long=-122.00896215559777&market=sanfrancisco&max_price=1250000&min_price=475000&region_id=39434&region_type=2&sf=&sold_within_days=90&uipt=1&v=6&zoomLevel=14

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37   ch_tah   2011 Apr 19, 10:02am  

thomas.wong1986 says

Cupertino schools any different vs back then, or just another hyped up realtor selling point?

Real quick search - yes
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2000/10/04/SantaClaraCupertinoUnionElemCupertinoMiddle.txt
840 in 1999
http://www.school-ratings.com/schoolRatings.php?schName=cupertino
916 2009

You have to admit Cupertino has changed a lot in the past 10 years, maybe more. Whether they have the money to support prices is debatable, but you cannot argue that Cupertino has become more Asian.

38   thomas.wong1986   2011 Apr 19, 3:07pm  

ch_tah says

You have to admit Cupertino has changed a lot in the past 10 years, maybe more.

More Asians today vs back than, is that what your saying ?

Are you gonna compare the students (the dumb nut white rednecks like me) from decades past who went into the workforce and built Silicon Valley, created new industries, new jobs and the tech revolution to who exactly ? Are they gonna be better and smarter and exceed accomplishments of the prior generation?

39   Serpentor   2011 Apr 19, 3:16pm  

Repeat after me, chindians don't have magic fortune telling powers, they dont have gold egg laying dragons, they dont have unlimited commie money (lol), they dont make perfect financial decisions, they are not immune to the lies of realtors.

40   ch_tah   2011 Apr 20, 12:13am  

thomas.wong1986 says

More Asians today vs back than, is that what your saying ?

Are you gonna compare the students (the dumb nut white rednecks like me) from decades past who went into the workforce and built Silicon Valley, created new industries, new jobs and the tech revolution to who exactly ? Are they gonna be better and smarter and exceed accomplishments of the prior generation?

More Asians - Yes.

You asked the stupid question if schools are any different now compared to then. The answer by statistics (which everyone on this board loves when it proves their point - including you) is that Cupertino students get better scores now than they did then.

Better, smarter, exceed accomplishments - smarter (as described above, yes); exceed accomplishments, maybe.

Hopefully, their arguing skills will be better than past generations.

41   xenogear3   2011 Apr 20, 1:02am  

Serpentor says

Repeat after me, chindians dont have unlimited commie money (lol),

Actually, they do. Fed reserve is printing money like crazy, and Chinese government is saying "We must match the amount of money Fed is printing. or Chinese currency will be too strong :)"

42   pkowen   2011 Apr 20, 1:57am  

ch_tah says

Better, smarter, exceed accomplishments - smarter (as described above, yes); exceed accomplishments, maybe.

Better test scores does not equate to "smarter". Critical, analytical thinking and judgment does not show up well on tests. I'll concede that they work a lot harder at doing well on tests...

43   ch_tah   2011 Apr 20, 2:33am  

pkowen says

ch_tah says

Better, smarter, exceed accomplishments - smarter (as described above, yes); exceed accomplishments, maybe.

Better test scores does not equate to “smarter”. Critical, analytical thinking and judgment does not show up well on tests. I’ll concede that they work a lot harder at doing well on tests…

These kids are smart using whatever criteria you want:
http://finance.yahoo.com/career-work/article/109472/teenage-entrepreneurs?mod=career-work

44   Serpentor   2011 Apr 20, 2:42am  

1. Thats one kid. Hardly data.
2. Her dad is a venture capitalist, I'd call that privledged rather then smarts.

45   Serpentor   2011 Apr 20, 3:09am  

sorry, but the VC industry is still dominated by the whites. The above example being an exception. (and the VC mentioned in the article is not one of the prominent silicon valley ones as far as I know)

Corner office folks live in Atherton & Los Altos Hills. Most Asians in Cupertino are engineers/middle managers, not corner office.

46   ch_tah   2011 Apr 20, 3:11am  

Serpentor says

1. Thats one kid. Hardly data.

2. Her dad is a venture capitalist, I’d call that privledged rather then smarts.

When I provide data, it doesn't count because it is test scores and it isn't "critical, analytical thinking."
When I provide an example of critical and analytical thinking it doesn't count.

I guess what you're looking for is:
Cupertino is exactly the way it was 20 years ago. It isn't more Asian than before. Houses don't cost any more. Nothing has changed. Same with Sunnyvale, regardless of zip code, houses cost the same, as there is no difference whatsoever.

Ahhhh...fantasyland...

47   pkowen   2011 Apr 20, 3:30am  

ch_tah says

I guess what you’re looking for is:
Cupertino is exactly the way it was 20 years ago. It isn’t more Asian than before. Houses don’t cost any more. Nothing has changed. Same with Sunnyvale, regardless of zip code, houses cost the same, as there is no difference whatsoever.

Cupertino is surely not what it was 20 years ago. Houses cost more, and it's not a better than it was, it's worse.

48   Serpentor   2011 Apr 20, 4:12am  

the only data I'm interested in: income vs home price & Rent vs home price, and how they relate to comparable cities... basically the standard metric for housing affordability.
All that wealthy immigrant talk are just hand waving and story telling. Show me the money.

49   chip_designer   2011 Apr 20, 8:18am  

Don't you guys get tired of everyday replying or debating each other's point of view, when we know that the only thing that is for sure is that nobody have a crystal ball.

50   chip_designer   2011 Apr 20, 8:20am  

either you guys have a lot of free time or not working hard enough.

51   bubblesitter   2011 Apr 20, 8:29am  

chip_designer says

Don’t you guys get tired of everyday replying or debating each other’s point of view, when we know that the only thing that is for sure is that nobody have a crystal ball.

Ego?

52   thomas.wong1986   2011 Apr 20, 8:50am  

chip_designer says

only thing that is for sure is that nobody have a crystal ball.

For some its their job to predict future, with or without a crystal ball.

Here is one example...

http://finance.yahoo.com/news/Qualcomm-results-shine-amid-apf-1794197422.html?x=0

"For the current quarter, the company expects net income of 68 cents per share to 72 cents per share"

There are alot of people in SV, and many many other parts of nation, who work as Financial Analysts in corporations running quarterly and year end forecasts. Thats all they do... paid to predict the future. When asked what the future looks like by their CEO/CFO, they certainly dont answer back ' no one knows the future'. You better have a number. A little bit of math goes a long way.

53   thomas.wong1986   2011 Apr 20, 9:02am  

ch_tah says

I guess what you’re looking for is:
Cupertino is exactly the way it was 20 years ago. It isn’t more Asian than before. Houses don’t cost any more. Nothing has changed

The difference it this...

The Brand Name of "Cupertino" ... by one big slick hype-marketing machine!

54   Serpentor   2011 Apr 20, 9:35am  

chip_designer says

either you guys have a lot of free time or not working hard enough.

Says the pot to the kettle

Shouldnt you be designing potato chips or something?

55   B.A.C.A.H.   2011 Apr 20, 12:40pm  

My friends' nephew over there did not get accepted to one of the elite UC's for last fall. Not to an elite Ivy, either. But I suppose Tufts has enough cache at least in their own minds so it will do.

And face has been saved in the mom's social pecking order.

56   Hysteresis   2011 Apr 20, 12:49pm  

sybrib says

My friends’ nephew over there did not get accepted to one of the elite UC’s for last fall. Not to an elite Ivy, either. But I suppose Tufts has enough cache at least in their own minds so it will do.
And face has been saved in the mom’s social pecking order.

and when he gets out and is just another cube dweller.

i'm sure mom will be beaming with pride after spending all that money on higher education. lol

57   B.A.C.A.H.   2011 Apr 20, 2:34pm  

Syphilis says

i spending all that money on higher education. lol

Also the shuttling between Cupertino and Boston is not cheap, either.

58   Serpentor   2011 Apr 20, 2:51pm  

wait, so Cupertino schools didn't get them an automatic admission to Cal? gasp!

59   B.A.C.A.H.   2011 Apr 20, 3:07pm  

Dad is ABC, from the older wave of immigration, Angel Island version. Their assimilated progency shares the values and interests with the progency of the Ellis Island waves of immigrants. And the proclivities like basketball, Monday Night Football, etc.

Mom is a different kind of Fortress Princess, you know the kind. Leveraging elite place in society to get a foothold into the urban areas of the North American West Coast. The set of values is more focused on tutoring, private lessons, test prep classes, API's, SAT's, GPA's. Bay Arean Version of Amy Chua. (If dad were a woman she'd be more like a Bay Area version of Sandra Tsing Loh. But I digress).

A place like Tufts would be perfectly fine with a person like dad. So would West Valley or DeAnza.

And Tufts is (apparently) Just Good Enough Cache for mom to keep her face.

60   Serpentor   2011 Apr 20, 3:33pm  

what? Can't they just take some of that golden dragon poop and donate a few billion RMB to Stanford?

61   Serpentor   2011 Apr 22, 10:18am  

Where does it say inventory is 1.5 months?

62   corntrollio   2011 Apr 22, 11:07am  

Days on market dropped from 32 to 27 yoy.

The raw data I've seen does not agree:

http://www.julianalee.com/reinfo/sold-CU.htm

For single family homes, the DOM is 61. For condos/townhomes, it's 74. Those stats are probably juked by MLS (e.g. things can get re-listed with 1 DOM).

63   corntrollio   2011 Apr 22, 11:19am  

Recently there has been a glut of parachuting Chinese hot money coming into the Bay Area, and all they are buying are Palo Alto and Cupertino, for schools.

Wasn't the "foreigners will save the housing market" myth busted a long time ago? One anecdote is not a trend. Cue the realtors thinking about pricing houses in RMB.

I suspect if real estate purchase will qualify to get EB-5 green card.

Real estate does not qualify for an EB-5. It has to be a real business.

Even the Mercury News got their numbers wrong on the number of foreign born in Cupertino:

http://www.mercurynews.com/cupertino/ci_17798040

Cupertino's foreign-born population jumped dramatically in the last decade, making up approximately 47 percent of the city's total population, according to the 2010 census. In 2000, it was estimated to be at about 22 percent.

WRONG. The 2000 Census said 42.8% were foreign born:

http://quickfacts.census.gov/qfd/states/06/0617610.html

64   SFace   2011 Dec 7, 2:35am  

ch_tah says

These kids are smart using whatever criteria you want:
http://finance.yahoo.com/career-work/article/109472/teenage-entrepreneurs?mod=career-work

Cupertino Monta Vista High teen wins 100K national science award:

http://online.wsj.com/article/AP27e6b4fd88bf44e49660ba127407d5f4.html

17 year old Cancer research designing nanoparticle targeting cancerous tumors. this girl probably knew more than her teacher as a 16 year old teenager. That is why Cupertino is coveted.

"I contacted a professor at [Stanford University] when I was 14 to see if I could work in their lab," If my kid was 14 and have that kind of self-motivation and desire, I don't need to worry anymore.

On a side note, what is up with Asains: 6/7 listed winners were asians (5 chinese and 1 korean).

65   bmwman91   2011 Dec 7, 1:51pm  

cloud13 says

grade ghetto full of chinidans.

BIG LOL at "grade ghetto"...that's a new one for me!

66   Clara   2011 Dec 7, 2:34pm  

People are still underestimating the buying power of the immigrants. [facepalm]

I have told you many many times they are the reasons why BA is so goddamn expensive.

67   thomas.wong1986   2011 Dec 7, 6:50pm  

Clara says

People are still underestimating the buying power of the immigrants

China Urges Western Nations to Enter Extradition Treaties (NYT)

http://www.nytimes.com/2007/05/29/world/asia/29china.html

Senior Chinese officials routinely warn that rampant corruption is one of the biggest threats to Communist Party rule, and the authorities have mounted a series of sweeping crackdowns in recent years.

But many suspects, including government officials and managers of state-owned businesses, have fled to developed nations that do not have extradition treaties with China, including the United States, Canada and Australia.

The China Daily reported that about 800 suspects wanted for economic crimes were at large overseas, according to officials from the country’s Public Security Bureau.

In earlier reports, state media said that as many as 4,000 officials have pocketed a total of $50 billion and escaped overseas in recent years.

The most celebrated Chinese fugitive is Lai Changxing, accused of being a smuggling boss, who has been living under a form of house arrest in Canada for seven years while he fights in the Canadian courts to avoid being returned to China. The Canadian government has agreed that Mr. Lai should be repatriated, but his case has been tied up in a series of challenges and appeals.

Last month, a judge in Canada’s Federal Court ordered judicial review of an earlier ruling that Mr. Lai and his wife would not be executed if returned to China. The court-ordered review effectively delayed any decision to deport them.

An extradition treaty would streamline the return of suspects to China, but the absence of one does not automatically bar the return of suspected or convicted criminals. This month, Japan, which lacks such a treaty with China, for the first time repatriated a Chinese official accused of corruption, according to a Xinhua report on May 12.

Yuan Tongshun, the former manager of a state-owned enterprise in Dalian, a northern port city, who was suspected of embezzling public funds, was returned to China after a Japanese court ruled he should be extradited, Xinhua said.

The United States also cooperated with China to return Yu Zhendong, a fugitive wanted for his part in the embezzlement of at least $485 million from 1992 to 2001 from a branch of the Bank of China in Guangdong Province.

In April 2004, Mr. Yu pleaded guilty in Las Vegas to racketeering charges arising from the embezzlement and was sentenced to 12 years in prison. But, as part of a plea bargain, he agreed to return to face charges in China providing he was not jailed for a longer term, tortured or executed.
!

68   toothfairy   2011 Dec 7, 10:19pm  

not sure if the link was broken but all of those houses are in San Jose not Cupertino.

69   CrazyMan   2011 Dec 7, 11:22pm  

Clara says

People are still underestimating the buying power of the immigrants. [facepalm]

I have told you many many times they are the reasons why BA is so goddamn expensive.

The BA has always been expensive.

Protip: Except for a couple micro markets, prices are still dropping across the BA.

70   bmwman91   2011 Dec 8, 3:30am  

Clara says

People are still underestimating the buying power of the immigrants. [facepalm]

I have told you many many times they are the reasons why BA is so goddamn expensive.

I think that people also make the incorrect assumption that non-white people that speak a language other than English at open houses are immigrants. Lots of citizens/permanent residents probably look & sound like "immigrants" to native US folks.

71   generallyfd   2011 Dec 8, 3:44am  

I rented in 95129 for one year, and don't feel the Cupertino Schools are somehow exceptional for anything THEY do. It's all about the parents. My daughter was in Kindergarten, and was a typical kindergartner. We didn't send her to outside tutors and did not put any pressure on her. Her teacher essentially taught nothing. Everything those kids learned it seemed they learned outside of the actual school.

My son was in second grade, and was an average to perhaps slightly-above average student. Again, no outside tutoring, and no pressure. The work I saw him do at school was not necessarily that impressive compared to the school he attended the prior year, which was certainly not anywhere near the test score level of the Cupertino school.

It was readily apparent to me that there was nothing magical about Cupertino schools. What they benefited from was a large community of parents with high expectations, and parents that would tutor or place higher expectations on their children.

My children are now not in a "10" school, but rather an "8". I am far more impressed with the level of actual teaching that goes on in the "8" school versus the Cupertino "10".

To buy in the likes of 95129 is to buy into like-minded parents. The school itself makes absolutely no difference.

72   Hysteresis   2011 Dec 8, 4:52am  

generallyfd says

To buy in the likes of 95129 is to buy into like-minded parents.

baaaaa. baaaa.

73   Iron Ranger   2011 Dec 8, 9:24pm  

I am new to the Bay Area and sent my kids to Cupertino schools after moving fom the mid-west. There are many visible cuts to education here. It's the high parental involvement and expectations which are motivating the kids to high test scores. Nothing special about the staff and schools.

74   SparrowBell   2011 Dec 9, 3:27pm  

I always have the these misgivings about parents paying a premium for the school district.

Many friends who buy houses at Palo alto and Cupertino only have one goals, sending kids to Stanford, but college is only the beginning. And, ones should not pave too smooth of a road for the kids

75   Serpentor   2011 Dec 10, 2:18pm  

SFace says

Cupertino Monta Vista High teen wins 100K national science award:

http://online.wsj.com/article/AP27e6b4fd88bf44e49660ba127407d5f4.html

17 year old Cancer research designing nanoparticle targeting cancerous tumors. this girl probably knew more than her teacher as a 16 year old teenager. That is why Cupertino is coveted.

"I contacted a professor at [Stanford University] when I was 14 to see if I could work in their lab," If my kid was 14 and have that kind of self-motivation and desire, I don't need to worry anymore.

" Top team honors went to a pair of students from Oak Ridge, Tenn."
I wonder how much an average house cost in Oak Ridge, Tenn.... maybe the Magical Chinese immigrants should move there.

Just because one kid who's had heavy parental guidance from an early age (and probably inside connections to the Stanford Lab) won a science contest, it doesn't mean someone can drop a kid in the same school and turn him/her into little Einsteins.

I don't care how smart the kid is, you don't get to research in Stanford without inside connections at age 14.

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