Most Silicon Valley home buyers are well aware that a no contingency purchase offer is more appealing to a home seller than a contingent purchase offer. A prospective home buyer should still think carefully about the risks they face when making a no contingency purchase … [Read more...] about No Contingency Purchase Offer
High Interest Rates Make New Home Construction Less Feasible
The city of San Jose just released a report titled "Residential Feasibility Analysis" that compares expected construction costs with the value of the construction. The report says the total estimated development costs have increased by approximately 12-13% over the last 18 … [Read more...] about High Interest Rates Make New Home Construction Less Feasible
More Townhouses Built Than Condos Or Single-Family
Looking at the new homes built in Silicon Valley by the five largest builders in 2020 shows: 316 townhouses built, 230 condos built, and 148 single-family houses built. Townhouse construction surpasses both single-family and condo construction. If smaller homes were wanted, … [Read more...] about More Townhouses Built Than Condos Or Single-Family
San Jose Rent Prices Increase Slightly – 1st Time Since March
The San Jose median rent price increased for the first time since March 2020. SF rent prices also increased for the first time since April 2020. They caution that increases are typical for this time of year so it may not indicate that effects from the pandemic are … [Read more...] about San Jose Rent Prices Increase Slightly – 1st Time Since March
Are Closed Campuses Affecting Home Prices?
With many college campuses either closed or partially closed, there are fewer renters near the campuses. Has the decrease in rental demand tipped demand for owning homes in those locations? Our MLS does not define a mostly residential neighborhood adjacent to San Jose State … [Read more...] about Are Closed Campuses Affecting Home Prices?