Isn’t Almaden a bit too far from work? It’s definitely nice down there.
Anecdote: someone I know just bought a smallish house in Little Saigon for 800K. The area is up-and-coming at best, and schools are awful. It’s within walking distance to Walmart, so you know how it is. I was very surprised a location like that could fetch that price, because not too long ago that was the going price for Evergreen. EG is not high end, but schools are decent and neighborhood is quiet and peaceful.
Anyone bidding in Santa Clara and God forbid Sunnyvale will tell you how crazy those two markets are.
It’s no longer just the usual FANG suspects. AI has lifted a ton of hardware companies, some so obscure most people haven’t even heard of. Who have heard of Lam Research before 2017? Well, its stock has shot up 83% this year. And then there is Nvidia of course.
Even the mainland Chinese think our market is too expensive for them. They have moved to Seattle and East Coast. It’s local money bidding the price up. Inventory is so thin it only take 100 or so people to jack up a small market like SC. If a home had 30 offers, what do you think the 29 people who lost will do? They will all bid on the next house of course.
Price appreciations: they are real, and they are spectacular!