Flush with cash and stock options, workers at tech companies in the Silicon Valley and San Francisco Bay Area like Google, Yahoo, Facebook, Apple, LinkedIn and Twitter will soon be starting families and flocking to the suburbs in search of more spacious digs and reasonable prices.

So says consultant Carole Rodoni, former president of Alain Pinel Realtors, speaking to Realtors in Pleasanton, a city of 70,000 approximately 30 miles north of San Jose.

While rental housing like Facetown, a $120 million, 394-unit complex going up within walking distance of Facebook’s campus, may keep younger tech workers happy, “crying babies and toddlers won’t fit in,” Rodoni says.

Buyers are paying 30 percent over premium on the Peninsula, the Pleasanton Weekly’s Jeb Bing reports, and sellers in the Tri-Valley (which includes the cities of Pleasanton, Livermore and San Ramon) are seeing multiple offers.

“The millennials are coming,” Rodoni said. “Are you ready?” Source: pleasantonweekly.com

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription