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A recent look at YIMBY vs NIMBY said that a person's attitude about high-density housing was strongly affected by how urban centers were widely viewed when that person was about 18. Boomers were about 18 years old at a time when urban centers had numerous problems reported. When other generations were 18, urban life was viewed as having more activities, parties, and nightlife. Other generations were 18 when suburbs were claimed to be resource-wasteful and caused excessive ecological damage.Currently Silicon…
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…
Although home buyers and home sellers should know days on market in order to make decisions, DOM is not a good way to predict house price appreciation.House price appreciation in Sunnyvale has differed significantly from that in Daly City.Days On Market has been low in Sunnyvale since 2012.Although Days On Market in Daly City has had more volatility during 2023 and 2024 than Sunnyvale, it has also been low since 2012.Days On Market does not appear to be a good…
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 offer.Probably the most significant risk is not being able to get a mortgage. This has become a greater risk because recent disastrous wildfires have led many home insurance companies to withdraw from the California home…
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, condo construction might surpass townhouses, but most home buyers want 3+ bedrooms. With local cities having height restrictions, townhouses can be built to the same density as condos.With so few new homes being built, Silicon Valley real estate market trends…
Assembly Bill 3182 (Civil Code Section 4740 and Civil Code Section 4741) limits the restrictions common interest developments may impose on offering units for rent. It took effect Jan 1, 2021.A common interest development may cap the number of rentals to 25% or more.ADUs and junior accessory dwelling units (JADUs) can not be included in the cap.The cap must not end the right of an individual owner who was renting out prior to Jan 1, 2021.A JADU is typically an…
