Cashing in on Facebook's new millionaires

Silicon Valley real estate already feeling effects from last week's IPO

In April, Facebook Inc. picked Nasdaq over the New York Stock Exchange for its $5 billion initial public offering, or IPO, as it is know in the financial world.

The selection of a stock exchange was globally watched and the decision dissected for wider import by the world’s tech community. In Northern California’s Silicon Valley, home to the Menlo Park-based social networking company, everything Facebook does is carefully watched, even in the real estate sector.