Introducing: Central San José

San José – Spanish for St. Joseph –  is the economic, cultural, and political capital of Silicon Valley, and the largest city in Northern California. With a population of more than 1.1 million, it is the third-largest city in California and 10th-largest in the United States. Due to its nature as a hub of innovation, San José is a global city, with a Mediterranean climate, and extremely high cost of living. 

San José is among the wealthiest major cities in the world, with the third-highest GDP per capita (after Zürich, Switzerland, and Oslo, Norway), according to the Brookings Institution. The San José metro area is home to the most millionaires and billionaires per capita of any city in the United States. With a median home price of $1.1M, it also boasts one of the most expensive housing markets in the country – and the world.

Learn more in the Neighborhoods section of our website.

Chic vs. Geek: House Flipping

We found a flipped home at a great price. What should we know before deciding to buy?

CHIC (PEARL)

A home that looks shiny and new can capture a buyer’s gaze, and in this competitive market, offers can easily become impulse decisions. That’s why it’s important to slow down and do your diligence! Request a list of recent renovations from the seller and check the permits. Find out who did the work and check their references. Read the seller’s inspection report closely and ask questions when you have them. Check the title report for any liens. And if you need more, have a look here and here.

GEEK (KEVIN)

When it comes to renovated properties, the level of experience, professionalism, craftsmanship, and attention to detail can vary greatly. When I’m in a home being sold by a flipper, I pay close attention to the details, like the edging on a paint job around the baseboards. It’s not hard to notice when a seller has cut corners to put “lipstick on a pig.” Just don’t get distracted by the color of the lipstick. Like Pearl says, ask a lot of questions and make sure you don’t end up in a money pit.

Introducing: Woodside

A small town with big lots, epic estates, and a popular network of horse trails, the Town of Woodside is one of the wealthiest communities in the United States – an exclusive list that also includes San Mateo County neighbors Atherton, Hillsborough, and Portola Valley.

Woodside has boasted a number of rich and famous residents over the years, including singer-songwriter Joan Baez, tech giants Larry Ellison and Steve Jobs, 49ers Hall of Fame Coach Bill Walsh, and award-winning actress Michelle Pfeiffer, along with numerous Silicon Valley CEOs, venture capitalists, business magnates, and – currently – 6 billionaires!

Woodside is also home to a number of open space preserves, including the Purisima Open Space – part of the Midpeninsula Regional Open Space District – which allows both horseback riding and bicycling.

Learn more in the Neighborhoods section of our website.

Chic vs. Geek: HOA Fees

How can we avoid paying too much – or paying at all?

CHIC (PEARL)

You typically run into HOAs when buying a condo, townhouse, or single family home in a PUD (Planned Unit Development). HOAs are governed by Covenants, Conditions, and Restrictions (CC&Rs), which define the requirements and limitations of what you can do with your property based on standards agreed upon by the homeowners in the development. The goal of CC&Rs is to protect, preserve, and enhance property values in the PUD. Homeowners pay HOA fees to have a say in the rules and for collective maintenance of the community.

GEEK (KEVIN)

Ironically, HOA dues can go up if the HOA itself is poorly managed, especially in a self-governed community. As a buyer, you should look carefully at the governance of any HOAs you encounter in your search. For a quick stress test, check to see if they have a reserve fund or other contingency plans. It’s also common for self-governed HOAs to misforecast or underestimate future costs for maintenance, security, and other neighborhood concerns. All of this can lead to higher fees and more headaches. Here’s some more helpful info.

On the Road: Oakland

Last week, we checked out an open house for clients in Adams Point, Oakland. Adams Point is located on the northern shore of Lake Merritt, directly adjacent to Downtown Oakland and the Grand Lake District. The neighborhood is home to a number of great walks, and there are plenty of hills to exercise your dog – if you’re a dog person. Our clients fell in love with this penthouse with spectacular views and high-quality upgrades..

We teamed up with Christine, an Oakland specialized agent, to bring this one home. We were blown away when we received 20 offers with a final selling price 150% over the listing price. Million-dollar views are what made this two-bedroom condo worth fighting over.

One important note: The market is dry in terms of housing inventory right now. It is very much a seller's market. If you're considering selling, let us help!