HO CHI MINH CITY, Vietnam - A half a world away from Silicon Valley's anemic real estate market, agent Cindy Nguyen has little time for sleep while she sniffs out deals in one of the world's hottest property markets.

Although it is fortunate the Silicon Valley region has not been hard hit with foreclosures in comparison to the rest of the state, a California real estate and tax attorney believes foreclosures will be with us for some time.

Finally, a glimmer of good news for Silicon Valley home sellers: Home sales were up 30 percent last month compared with March.

Although analysts maintain the Silicon Valley region's housing market is faring better than other parts of the state, real estate agents acknowledge it is a tough time.

SAN FRANCISCO -- Yahoo Inc. Chief Executive Jerry Yang is convinced that the company he started in a Silicon Valley trailer 14 years ago is worth more than the $47.5 billion that Microsoft Corp. had offered for the Internet pioneer.

There's still plenty of pain ahead for Silicon Valley's housing market as more homeowners faced the threat of foreclosure in the first three months of this year than during any quarter on record.

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The Silicon Valley housing market got walloped in March, as median prices fell sharply and sales hit record lows for the month.

Need more proof that Silicon Valley seems to be dodging the worst of the economic downturn? According to a report scheduled to be released today, the local apartment rental market remains strong, with rising rents and occupancy rates holding steady.

It's the schools that attract home buyers to Saratoga, Mayor Ann Waltonsmith told real estate agents at a March Silicon Valley Association of Realtors Los Gatos/Saratoga District tour meeting.

Signs advertise homes for sale and for rent last month in Tacoma, Wash. In Silicon Valley, affordable rentals have been a rarity for years.