How do home prices compare between Los Gatos, Saratoga, Cupertino, Campbell, and areas of San Jose such as Cambrian, Almaden and West San Jose?

Yesterday on my Live in Los Gatos blog, I compared a number of “west valley” areas in Santa Clara County, or southern Silicon Valley, to provide a sense of how much home you can get for your money in Los Gatos, Saratoga, Cupertino, Campbell, and areas of San Jose such as Cambrian, Almaden and West San Jose.  I used my Altos Research weekly newsletters, which provide a snapshot view of four real estate pricing tiers for various cities or areas.   In these, you see the median list price per quartile with the type of square footage, lots size, beds and baths found for each one.

Let’s look at Cupertino first, since I get a lot of folks wanting to relocate to Silicon Valley for Apple employment, and many of the new recruits have heard about the wonderful public schools in that city – a major draw.  A few years ago, it was very possible to purchase a small house in Cupertino for under a million dollars.  But have a look at the chart below and check out the days on market as well as the other data….

Cupertino real estate prices by value tier

 

In many areas, the most affordable homes are the ones that get gobbled up fastest.  Why is it that in Cupertino, the lowest priced listings are on the market the longest?  It’s not their size – I can tell you this from two decades of experience selling homes in the Bay Area.  It is very likely that these properties are not too livable as a group.  They probably need serious remodeling or rebuilding (and perhaps expansion as well).  Most buyers do not have the cash to totally “rehab” a house, especially if they are starting at over $1,000,000.  If you want to live in Cupertino and not throw a ton of money into the existing house, or tear down and rebuild, you’re most likely to need a budget closer to $1.3 or $1.4 million as a starting point.  Want to be able to walk to Infinity Loop?  Make that $1.5 or more – and you will still need to do some remodeling unless it’s very small!

What about other nearby Silicon Valley communities and neighborhoods?  Please have a look at the full article with charts for a number of areas (plus one for all of San Jose).

What does a million dollars buy you in Los Gatos 95030, Los Gatos 95032, and nearby areas: Saratoga, Almaden, Cambrian, Campbell, Cupertino?

Which Silicon Valley areas are the most European feeling?

Beckwith Building in downtown Los Gatos, California

The beautiful Beckwith Building in downtown Los Gatos, California

I have been fortunate to have made 5 trips to Europe, one of them lasting 9 months, and will be returning again before the end of 2013 (this time to Belgium).  It is so diverse, beautiful and compelling! Having experienced a little culture shock myself (when living in Florence, Italy, for one year of university), I’m very sympathetic about how hard an international move can be, and I understand that for Europeans moving to Silicon Valley, there can be an acute culture shock, particularly for those coming from more rural areas.

The bulk of Silicon Valley is located in Santa Clara County, which is at the southern end of the San Francisco Bay.  In this county, there are approximately 1.8 million people, almost a million of them in the city of San Jose.  Some areas, or districts, of San Jose have a distinctive character and are almost like towns or small cities themselves.  So in this article I’ll mention both cities and towns, but also areas or districts of San Jose, which might appeal to our European transplants.   Most of my comments will reference Santa Clara County or “south bay” locations, but I will also mention others on the San Francisco Peninsula and SF Bay Area too.

Architecture, Urban Centers and Charm

It is an unfortunate negative in Silicon Valley that much of our housing consists of ranch style tract homes, and truthfully, they are not exactly a work of art.  New or newer homes tend to be on very tiny parcels of land (or “lots”) and for many people may simply feel too congested or crowded. But there are beautiful residential neighborhoods – you just need to know where to look!  In many ways, the areas with higher charm can make our global home buyers feel more comfortable than if they were faced with only track, ranch neighborhoods.

Do you value unique, older architecture with Victorian, Craftsman, Tudor or other home styles? Then check out these areas:

  • Within San Jose: the Japantown, Vendome, and Naglee Park areas of downtown San Jose. Also in central San Jose are the Rosegarden, Shasta Hanchett and Burbank neighborhoods which all boast some lovely older homes.  Or, if you love classic Spanish Revival style homes with views, consider the old Alum Rock area of San Jose near the country club (golf course).  The Willow Glen area of SJ (zip code 95120) is full of lovely old established neighborhoods with historic homes and tree lined streets.  If your job takes you to downtown San Jose, all of these areas will be fairly close.
  • If you want a rural, eclectic atmosphere, check out the “New Almaden” area of San Jose.  This is actually a county pocket with a San Jose mailing address.
  • Other towns or cities with older, more interesting architecture include the “downtown” ares of Los Altos, Palo Alto, Los Gatos, Campbell, Mountain View, Saratoga and Menlo Park (in San Mateo County, just north of Palo Alto).
  • If work will be on The Peninsula, there are many areas nearby that may work.  San Mateo has some fantastic neighborhoods!  Also San Francisco, which is tiny but full of beautiful areas, may be a strong draw (I do not sell there – it’s too far for me).   Warning: the weather in San Francisco is very often COLD in summer!
  • Across the bay, Berkeley has some great Victorian and other homes and several really interesting pockets, as does parts of Oakland.  (I do not work these areas either as they are too far for me, but I did live in Berkeley in graduate school and can connect you with a great agent there.)
If what you want is a “walk to town“, urban experience, many of the areas above will work for you.  Additionally, there are a couple of more recently built areas that might appeal to you – Santana Row in San Jose (along the Santa Clara border) or the Rivermark area of Santa Clara off of highway 237, close to the bay.

Where to find historic homes in the San Jose and Silicon Valley area?

Mediterranean style home from the 1920s in Naglee Park (downtown San Jose)Sometimes newcomers to Silicon Valley strongly prefer older homes, such as Victorians, Craftsman, or other distinctive architectural styles, preferably surrounded by homes of the same vintage.  Most of the valley is filled with ranch style housing, but there are quite a few neighborhoods which enjoy historic home which exude tons of charm.  Where to find them?

San Jose’s historic homes

San Jose is a large city (10th largest in the United States, almost 1 million residents) and very spread out with a wide diversity of neighborhoods.  Here are a few to consider for classic, older properties:

In central San Jose there are quite a few areas to check out:

(1) Downtown San Jose generally, but within that area
Naglee Park
Japantown
Vendome areas
(2) the Shasta-Hanchett neighborhood
(3) the Rosegarden area (close to Shasta Hanchett, both in “central San Jose”)
(4) Alum Rock in east San Jose – up into the foothills there are lovely, older Spanish style homes
(5) Willow Glen – close to downtown SJ, features all sorts of architectural styes, from mid-century modern to Spanish, Victorian, Tudor – you name it. Within Willow Glen, The Palm Haven neighborhood has the added charm of so many palm trees (very visible when flying into the San Jose airport)

There are many more scattered throughout San Jose and nearby suburbs, even in places like Cambrian Park or Almaden (away from the old mercury mining area), where it seems all the houses were built from the 1950s to the 1980s.  When we see a hundred year old house in this area, it’s very likely that it used to be the house on a large ranch, orchard or farm.

Los Gatos

Waterman house on Broadway in Los GatosThe town of Los Gatos is far smaller than neighboring San Jose, but has a great assortment of historic districts that are beautifully maintained and tastefully updated, most of them right in downtown.  I’ve written about these on my Live in Los Gatos blog, so here are a few links to those neighborhood posts:

Edelen District

Almond Grove District

Broadway – first subdivision in Los Gatos

Overlook Road

Fairview Plaza

 

Palo Alto

Palo Alto enjoys some of the most beautiful, gracious older houses in Silicon Valley, particularly the Professorville and Old Palo Alto areas, but others too.  Drive the neighborhoods between Stanford University (El Camino Real) and 101 and you’ll find lots of historic homes to love!  The challenge is affordability, as these are the most expensive historic homes in the region.

There are many more lovely older homes throughout Santa Clara and San Mateo Counties and nearby.  If you enjoy these classic beauties, watch for a series of spring home tours which become available beginning in around March each year.  Most of them will cost a few dollars, with proceeds going to a worthy local charity.  If you’re interested in purchasing an historic property, visit my “search by map” page and enter a “built before” year and then scroll around the valley to see what is available.

Los Gatos Real Estate Market: What a Difference a Zip Code Makes

Combination of 95032 and 95030 areas in Los Gatos (homes for sale, list price)Real estate is local, local, local. There may be discernable trends in the national real estate market, the California real estate market, or the Silicon Valley real estate market – but all of that may or may not be reflective of what is happening with your house or home today.

Los Gatos is a case in point. The view of “the town” is entirely different from a view of its parts taken separately. Recently I spent a few hours pouring over the data and learned how dramatically different the market is from the 95030 zip code to the 95032 zip code.

It all depends on how you search.

If you are analyzing all of the addressess with “Los Gatos” as the mailing address, you will get homes in town and also properties that are not part of the town but rather are in the Santa Cruz Mountains (such as Redwood Estates, Aldercroft Heights, Chemeketa Park, etc.). Those homes have a 95033 zip code and really should not be considered as the “Los Gatos real estate market” because the mountain communities are entirely different.

In town, the schools tend to define desireability. Most of 95032 does not have the exceptionally highly regarded Los Gatos Schools and right now, that is most likely what is causing the huge gulf between the markets.

I invite you to view my detailed post and check out the large number of graphs on my Live in Los Gatos site:
Understanding the Los Gatos Real Estate Market Trends  and also see Los Gatos real estate market trends