Silicon Valley Home Sellers Await Facebook IPO

It’s been deemed the Facebook effect: The term is now being used to describe the electrifying jolt to the Silicon Valley real-estate market that the much-anticipated Facebook initial public offering is predicted to cause.

It’s been deemed the Facebook effect: The term is now being used to describe the electrifying jolt to the Silicon Valley real-estate market that the much-anticipated Facebook initial public offering is predicted to cause.

Apparently, in the valley, homeowners looking to sell are now tightly clutching onto their estates and awaiting buyers made nouveau riche by the public offering.

Fortune reported that the median price of a single-family home in Palo Alto — where Facebook Co-Founder and Chief Executive Officer Mark Zuckerberg resides — increased 11 percent during the first quarter of 2012, while housing inventory shrunk by 57 percent.

Much of what will happen with the IPO is yet to be seen, though, and as Fortune’s David A.

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