[quote=SmellsFeeshy]Thanks for the links BG. That blog does seem to have a lot of good info. However, being that she is a realtor herself I am a little skeptical that she isn’t trying to make it sound like the market is hotter than it really is. It does appear though based on the inventory and number of properties pending that it is a sellers market at least on the peninsula and that properties are selling rather quickly.
I’m not looking to purchase anything right away, probably would be at least a year before I figure out which areas I like/don’t like and also would need to see if I want to actually settle down in the Bay Area for the long term.
Milpitas does look good in terms of pricing and SFRs that fit my criteria but I’m really not familiar with the city at all so I’d have to actually go and hang out there for a while to see how I like it. Also since prices are cheaper than the Peninsula I’m guessing traffic is probably pretty bad, sort of like living in North County SD and commuting to San Diego proper.[/quote]
smellsfeeshy, I think that is a great blog and breaks down the recent sales in groups, etc. I wouldn’t worry that it is a “realtor’s” blog. There is no obligation to sign up to use the tools there and if you sign up, she won’t even know your name.
Look at how long SFR’s stay on the market in your area of choice and that will tell the tale whether they are actually “selling like hotcakes” … or not.
The “commute” from the vicinity of the Capitol Expwy and US-101 in SJ to SF (SOMA) is approx 52-54 miles and takes about one hour when the traffic is constantly moving. I-280 and US-101 are very busy in both directions during rush hour with the a.m. southbound and p.m. northbound slightly heavier.
SFR tracts in what is now the Silicon Valley (mostly in SC Co) were developed in the ’50’s thru the ’70’s (mostly ’50’s and ’60’s). As you know, parts of it are zoned comm’l, industrial and a LARGE part is protected open space, which will never change. Unless for comm’l development or an “infill” (teardown) project, it is doubtful any of these jurisdictions would issue permits for new construction today as there isn’t any land to build on and hasn’t been any for many years.
The good planning and forethought of SM and SC counties’ forefathers as well as VERY close proximity to GREAT jobs is what drives up the price of SFR’s in SV. The quality of life is very high there for those that don’t commute long distances to work.
If you are seeking a suburban (or exurban) “SD North County lifestyle,” San Mateo (SM) and Santa Clara (SC) counties are probably not the places for you to purchase in, given the price range you stated here.
Based on your last post, I feel it is probably better for you to rent and get to know the area in your off hours.
