Is There More Value in a Corner Lot, Flag Lot, or Normal Lot?

Lot Shapes: Standard, Corner, Cul-de-Sac, and Flag (or Key)What kind of residential lots and land will hold value the best in Silicon Valley?  Your choices may include a corner lot, flag lot, cul-de-sac lot, a zero lot line parcel, oddly shaped land boundaries, and standard lots.  If you are concerned about resale value and appreciation, it’s helpful to know what most buyers ordinarily prefer.

Corner and Standard Lots

While some San Jose area home buyers want a corner lot (more light, fewer adjacent neighbors), for most, the extra traffic and noise outweighs the pluses. An issue that home buyers often raise with corner lots involves headlights hitting bedroom or other windows as cars turn. There is some concern about drivers missing the turn and hitting the house, too. (This is also a worry for buyers looking to purchase a home on a busy road.)

The most-desired lot for home buyers, generally, is a normal, interior, standard (rectangularly shaped) lot.

Cul-de-sac Lots

Cul-de-sac lots are also highly valued among many buyers, though not all. With the court location comes a lack of street parking, especially at the end, and a lack of exit routes. A while back I held a listing open in Los Gatos that was on a cul-de-sac and the idea of only one way in or out spooked one buyer who otherwise really liked the location, which was close to Los Gatos schools. Homes at the end of the court also have irregularly shaped lots, and they tend to be harder to utilize as well but offer large backyards. So there are plusses and minuses, especially at the end of the court.

I’d like to add that pie shaped lots, or those with many angles, often seem to have the lot size misrepresented on county records.  Many times I’ve found that a large parcel on a cul-de-sac will be ascribed the same size as nearby plots even if clearly it’s far bigger. The geometry is a headache, but you can use Google Earth to do an approximation of the actual square footage and then check the perimeter against the perimeter found in the Preliminary Title Report. The odds are good that if you get the correct size of the boundary (perimeter measurements added together) on Google Earth, you’ve got the correct lot size. Own a house with such a situation? Bring it to the county tax assessor’s office and get your property’s record updated. (more…)

Parents of Silicon Valley College Students: Should You Buy a Condo or House, or Utilize Dorms & Campus Housing?

Silicon Valley is home to three great universities (Santa Clara University, San Jose State University and Stanford University), about a half dozen community colleges (Mission, Evergreen, West Valley, Foothill, De Anza, San Jose City, Ohlone,  Canada) plus smaller trade schools or polytechnic colleges for specific career-oriented individuals  (such as Cogswell in Sunnyvale).

Most of the smaller schools do not offer student housing while the larger ones typically do – though it may not be guaranteed for all four years.

If you are a parent of a college student in the San Jose – Santa Clara – Palo Alto area, should you consider purchasing a condo, townhouse or house for your son or daughter?  Does it make financial sense to do so? Over time, would this be a good investment? Would it be best for your son or daughter to skip the dorm scene?             (more…)

The Silicon Valley Real Estate Investment Opportunities

mapAre you looking to purchase a Silicon Valley investment property? Now is a great time as several segments of the Silicon Valley and San Jose real estate market are extremely favorable to buyers, and interest rates are being aided by recent government action.

Let’s consider what to buy and where you might want to invest in Santa Clara County real estate. Part of the equation will be the type of housing you’d like to own, part will be the location, and of course much of it will be determined by your budget.

Types of Silicon Valley Residential Investment Properties

The most popular type of property for investment buyers is a single family home. This makes sense in Silicon Valley especially because the structure of the house is not what truly holds the value here. Instead, it’s land value for the long term preservation of your assets and the growth potential. There’s also the issue of control. In a condo, owners have a loss of control in regards to noise and other nuisances, suprise special assessments from a poorly managed Homeowners Association, and so on. With a single family home, there’s less risk because there’s more space between neighbors, more control over one’s own property improvements and maintenance, etc.
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