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 months. Construction mortgage rates have doubled over the last 12 months and hover above 8.0%. The report … [Read more...] about High Interest Rates Make New Home Construction Less Feasible
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 decreasing. City1 Bed Rent (m to m)(y to y)2 Bed Rent (m to m)(y to y)SF$2,680 (0.8% )(-23.9%)$3,500 … [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 University, so it is not easy to look for any trends there. Looking at Zip Code 95112 and trying to … [Read more...] about Are Closed Campuses Affecting Home Prices?
Real Estate Trends – San Mateo County vs. Santa Clara County
San Mateo County trends and Santa Clara County trends have begun showing greater differences. At the beginning of 2018 prices spiked higher in Santa Clara County due to the expected increase in mortgage rates. At the end of 2020 Santa Clara again is showing greater increases, possibly due to its greater economic influence from tech companies. … [Read more...] about Real Estate Trends – San Mateo County vs. Santa Clara County
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Welcome to Homes For Sale Silicon Valley CA. This is your first post. Edit or delete it, then start writing! … [Read more...] about Hello world!