192 Barranca Ter Quick Tour
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Will YIMBY Create Increased Condo Demand?
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 Sunnyvale house prices are growing faster than Sunnyvale condo prices. This could be due to a different proportion of renters vs owners for condos vs. houses. It could be due to houses typically being larger than condos.It should be noted that increased mortgage interest rates have increased the cost of buying a condo. Flat prices do not mean demand is falling.Will the attitudes of new generations drive the demand for condos…
Price Appreciation vs DOM
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 indicator of house price appreciation.From https://julianalee.com/blog/median-days-on-market/
New Housing Developments Begin Including Granny Units
On January 29, 2021 Weingarten Realty Investors submitted an updated plan for San Jose's Cambrian Park Plaza which proposes having 30 houses to now include granny units on the ground floor. The granny unit would have its own entrance.The second and third floors would be an entirely separate single family dwelling from the granny unit below.One San Jose City Council member, Pam Foley, has voiced support for the addition of the granny units saying it is "one way to naturally add affordability into any project".With the new California wide regulations on Accessory Dwelling Units (ADUs, granny units, backyard cottages), this is likely to become commonplace for new Silicon Valley housing developments. It is a path to meeting demands placed on many Silicon Valley cities for both more housing and more affordable housing.
Real Estate Commission
Real estate agents have been creating new real estate commission plans. JLee Realty has recently implemented a 0% real estate listing commission plan. Their expressed goal is to attract as many buyer agents to their listings as possible.If their own buyer agent submits a successful offer, they reduce their listing commission to zero percent. JLee Realty will not receive any more commission if their seller accepts an offer from JLee Realty than if a purchase offer is accepted from any other brokerage.Furthermore JLee Realty is not offering any enticements for a buyer to drop their own buyer agent and use a buyer agent from JLee Realty when they make an offer.
Sunnyvale Real Estate Trends
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