A recent claim that San Mateo Townhouse prices were dropping was surprising because the townhouse cited as an example was a 4-bedroom unit. Studio and 1-bedroom condos do have low demand, but "family-sized" townhouses have generally had balanced demand with almost flat prices since 2019. From 2011 until about 2020, townhouse appreciation matched that of single-family houses.The townhouse was part of the new Pulte Homes "Heights" development, which has three collections. The 4-bedroom unit was part of the "Elevate" collection,…
House prices in cities near San Francisco have been appreciating more slowly than in San Mateo. San Mateo house price appreciation is barely higher than that of San Mateo County.House Price AppreciationIf house price trends in San Mateo County are carefully examined, 2018 appears to have been a turning point for house prices. The short-term spikes in 2018 and in early 2022 are very noticeable, but the trend from late 2018 to 2026 is flatter than that from 2012 to…
In 2024 it became necessary for a real estate agent to get a written agreement with a potential buyer before they could tour a home with them. Claims had been made that sellers were forced to pay a commission to the buyers' agent and that buyers should pay for their own agent. In Silicon Valley the default was that sellers pay all commissions but the sellers have had the choice how much to pay or even if they pay. Most…
The average Silicon Valley Homeowner used to be able to leave his home to his children as part of his estate planning. There were tax advantages just as there are for inherited 401k plans. Many parents hope to create a family home or business that will help their children and possibly their grandchildren. Proposition 19, promoted as "Home Protection... (for) ... Victims of Wildfire" had the more significant impact of making it difficult to create an inherited family home as…
The San Mateo City average house price rose in line with previous quarters, but the San Mateo City median house price spiked up. The details of San Mateo real estate show that in the third quarter, the average size of houses sold was up 10%. Examination of other San Mateo County cities revealed that eight other cities (Foster City, Los Altos Hills, Menlo Park, Millbrae, Pacifica, Portola Valley, San Carlos, & Woodside) also had a significant house size increase as…
The "Lawn Be Gone" rebate offers up to $4 per sq. ft. of lawn which is replaced by drought-tolerant plants from the BAWSCA Approved Plant List. The list includes more than 2500 plantsThere are several related rebate programs for San Mateo County which might significantly reduce the cost of putting in a drought-tolerant landscape. See "Drought Tolerant Landscape - Water Conservation - Rebates".
The news media has reported both tech companies and venture capital firms leaving Silicon Valley. Indeed the percentage of all US venture capital activity has declined in the Bay Area over the last decade. However end of year 2020 venture capital data (from PitchBook) shows over 2,500 VC deals completed in the Bay Area which is over that of 2019, with more data still expected.Over the last five years, over $151 billion of fundraising has happened in the Bay Area…
A newly passed San Carlos ordinance requires that new homes have all-electric utilities. An exemption allows single family homes to have gas stovetops and fireplaces but electric hookups must be included.Juliana Lee posts more information about San Carlos real estate and San Carlos real estate trends.
When deciding to fix or replace a property line fence, you need to understand the California Good Neighbor Fence Act. It makes both neighbors equally responsible for the cost of repairing or replacing a property line fence. A key requirement is that you have to notify your neighbor(s). Most people would talk with their neighbor but few would normally follow the steps specified (30 days’ prior written notice to each affected adjoining landowner).
In 2024 it became necessary for a real estate agent to get a written agreement with a potential buyer before they could tour a home with them. Claims had been made that sellers were forced to pay a commission to the buyers' agent and that buyers should pay for their own agent. In Silicon Valley the default was that sellers pay all commissions but the sellers have had the choice how much to pay or even if they pay. Most sellers understood that a real estate agent is trying to earn money and is going to avoid working for no pay and accepted the default arrangement.
A benefit of the seller paying all commissions is that the buyer does not have to use his cash to pay a commission which would reduce how much he has for a downpayment. Having a larger downpayment enables the buyer to qualify for a larger loan and thus be able to purchase a more expensive home.
Home buyers are accustomed to not making any commitment until they are ready to make a purchase offer. Real estate agents representing buyers now have to overcome the buyers' expectations. This could lead to lower commissions. It is likely that experienced agents who typically represent sellers will gain an even more advantageous position over buyer agents due to the reluctance of buyers to sign an agreement.
The written agreement between the buyer and their agent must specify the agent's compensation (commission) and the length of the agreement. It should also describe the services the agent provides. Typical services would be finding properties, showing properties, analyzing property values, and preparing and submitting purchase offers.
Many home buyers believe they can find the home and don't need any assistance doing that. The median days on the market, DOM, for Silicon Valley homes for sale is about 10 days. For San Carlos homes the median DOM varies significantly but is about 7 days. Even with the available automated alerts, it could be challenging for a home buyer to respond in time for a newly offered home.
Although detailed up to date plots of Silicon Valley real estate trends are publicly available, the understanding gained from the daily professional involvement of a real estate agent is only available by working with an active agent.
