Bay Area Real Estate - What's Hot & What's Not

Earlier this week CalFHA announced that it's borrowers will be required to have a down payment. The great news is that CalFHA accepts layered financing as a source for down payment assistance, which is a great alternative for first time home buyers looking for down payment options.

Inventory is high and prices have adjusted downward in certain locations, now is a great time to buy if your plan is to live and enjoy your home for 3-5 years. Real estate is a long term investment, so you should consider the if buying a home is right for you.

Looking at appreciation in Santa Clara over the last 10 years we can see that the market exhibits a steady growth trend over time and properly positioned buyers have both enjoyed the use of their homes as well as an increase in their home's value.

To find out if buying a home is right for you, give us a call (408) 249-3718 and sign-up for our FREE buyer's workshop.

After years of investment and planning, Coyote Valley supporters walk away from further funding for the specific plan. According the the Mercury News, developers cited current market conditions and building restrictions for the decision to pass on additional investment for this project. The Coyote Valley project was planned for the south side of San Jose covering approximately 7,300 acres. The plan included three areas; North Coyote (office), Urban Reserve (residential & mixed use), and Coyote Green Belt (open space preserve).

Although developers have walked away from residential development opportunities, the North Coyote area looks like it will roll out and office construction may happen in the near future.

The City of San Jose is working on a plan to roll the project plan into its general plan update, which is currently underway, so don't count Coyote Valley out yet. However, don't expect to move into the planned walkable urban community anytime soon.

Molina, Joshua. “Developers drop plan for San Jose's Coyote Valley.” San Jose Mercury News.  http://www.mercurynews.com/ci_8622695?source=most_emailed (accessed March 21, 2008).

City of San Jose Planning Department. “Coyote Valley Specific Plan.” http://www.sanjoseca.gov/coyotevalley/index.html (accessed March 21, 2008).