CUPERTINO, Calif. – Cupertino property manager Jerry Garrity of First Statewide Realty sees continued low vacancy rates in the Silicon Valley boosting investor demand in the region’s real estate market.
Garrity, whose Cupertino property management firm has helped real estate investors’ portfolios survive and grow through three decades and five recessions, says the rental market is expected to stay strong through 2012, because there are still more backlogged foreclosures coming on the market from banks.
“Now that the big banks have made a deal with the Justice Department on how to resolve backlogged foreclosures, there will be more owners forced into the Cupertino rentals market.”
As a result, Garrity says investors have been taking up the slack by purchasing bank owned properties at low prices in a record-low interest rate environment.
“This is a market where I look around and see opportunities. The savvy investor who understands the value of having a professionally managed real estate portfolio can really grow their wealth during times like this.”
He says the mistake most inexperienced investors make is thinking they can save money by self-managing their rental property.
“Property management services actually protect the investment, and over time, can increase its total cash flow, because we are experts in efficiency. From screening renters to maintaining the property, we take seriously our job of helping our clients maintain positive cash flow through the lifetime of their investment, even during recessions.”
About First Statewide Realty
Jerry Garrity’s First Statewide Realty is a seasoned expert in property management whose expertise has been featured in the Wall Street Journal and other publications. His Cupertino property management company specializes in managing single family homes, condominiums, townhouses and other investment property. Services are provided for all of Silicon Valley, including San Jose, Sunnyvale, Santa Clara, Campbell, Mountain View, Los Altos, Cupertino, Saratoga, and Los Gatos.
The firm has been in business for over 21 years, and is a member of the Santa Clara County Association of Realtors, Silicon Valley Association of Realtors, National Association of Realtors, California Association of Realtors, Tri-County Apartment Association and National Association of Residential Property Managers.
First Statewide Realty
20045 Stevens Creek Blvd.
Cupertino, CA 95014