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REAL ESTATE
San Jose becomes 1st in CA to allow property owners to sell ADUs
San Jose is now the first in the state to allow the sale of ADUs - those accessory dwelling units in many backyards.They've been a way to raise money or help out a relative. Now, they can help people get into affordable homes.A new law passed in January, allows ADUs to be sold separately from the main house."People surprised how small a footprint you need for ADU," said Dan Kearnan.He built his 500-square-foot ADU behind his five-bedroom home back in 2021.VIDEO: San Francisco home selling for $488,000 but you can't move in until 2053A San Francisco Russian Hill home is...
With $9M price tag, ‘glass’ house in Portola Valley is priciest sale of the week
Getting your Trinity Audio player ready... Each week, Embarcadero Media takes a look at home sales activity along the Midpeninsula in the communities of Atherton, East Palo Alto, Los Altos, Los Altos Hills, Menlo Park, Mountain View, Palo Alto, Portola Valley and Woodside. Home sales are provided by California Resource, a real estate information company that obtains the information from counties’ recorder’s offices. Information is recorded from deeds after the close of escrow and published within four to eight weeks. Here’s a look at home sales activity between June 4-21 that was made public the week of July 15.
San Jose Residents Say 7-Story Apartments Too Big For Willow Glen
A proposed seven-story apartment and townhome project could bring 126 homes and a new retail space to Willow Glen, but many residents in the neighborhood are not happy about the plan. Almost 200 people called in to a June 3 community meeting hosted by San Jose Planning Department officials. Callers...
Opinion: More affordable housing means a more vibrant Palo Alto
Getting your Trinity Audio player ready... My neighbor and his wife purchased their home in Palo Alto over 40 years ago. At the time, he was a history teacher at Menlo Atherton High School, and she taught English. During his 35 years of teaching, he helped coach the boys basketball team at Palo Alto High School, and she became a writing tutor for local students. They raised their two children here as they taught our neighborhood kids. Today, with the rising cost of housing, it’s unlikely that two local public-school teachers could purchase or rent a home in this neighborhood and live here as an integrated part of the community. Instead, our local teachers often commute over an hour each way from Santa Cruz or Half Moon Bay, and our community loses the sense of neighborhood and belonging that happens when those who work in the area can also afford to live here.
Selling ADU's could be a major housing answer | Thomas Elias
No one doubts there’s a shortage of low-end housing available for purchase in California. The combination of high prices, high rents and the lower-than-normal property taxes paid by long-term homeowners has kept California’s inventory of low-priced housing down for many decades. The often-innovative city of Berkeley earlier this...
Marcus & Millichap Brokers $71 Million Sale of Affordable Housing Community in San Jose, California
SAN JOSE, CALIF. — Marcus & Millichap has arranged the sale of Moreland Apartments, a 160-unit affordable housing community in San Jose. The asset traded hands for $71 million. Mitchell Zurich, Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller, the original developer of the property, and procured the buyer.
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