Foster City House Prices Reach All-Time High But …
So far, in the 3rd quarter of 2023, Foster City house prices have reached all-time highs for both average and median prices. Although the house price per sq. ft. has climbed during the last three quarters, it is not at an all-time high.Let's look at Foster City real estate. The average size of houses sold in Foster City has spiked upward to an all-time high.There usually is quite a bit of variation in the average house size. However, Foster City, Los Altos Hills, Menlo Park, Millbrae, Pacifica, Portola Valley, San Carlos, San Mateo, and Woodside all show dramatic upward spikes in the average house size. In Santa Clara County, only Palo Alto shows a similar spike in average house size.Looking through the real estate trends for these cities does not show any other significant changes. Historically, cities in San Mateo County have had a high San Francisco newspaper readership. Cities…
New Housing Developments Begin Including Granny Units
On January 29, 2021 Weingarten Realty Investors submitted an updated plan for San Jose's Cambrian Park Plaza which proposes having 30 houses to now include granny units on the ground floor. The granny unit would have its own entrance.The second and third floors would be an entirely separate single family dwelling from the granny unit below.One San Jose City Council member, Pam Foley, has voiced support for the addition of the granny units saying it is "one way to naturally add affordability into any project".With the new California wide regulations on Accessory Dwelling Units (ADUs, granny units, backyard cottages), this is likely to become commonplace for new Silicon Valley housing developments. It is a path to meeting demands placed on many Silicon Valley cities for both more housing and more affordable housing.
Foster City Levee Improvements And Tax
The Foster City Levee improvement project costs property owners approximately $40 per $100,000 of assessed property value. It will avoid the requirement for flood insurance that would have resulted from FEMA re-classifying the Foster City flood risk.Read more about the Foster City Levee improvement and taxes.
Real Estate Commission
Real estate agents have been creating new real estate commission plans. JLee Realty has recently implemented a 0% real estate listing commission plan. Their expressed goal is to attract as many buyer agents to their listings as possible.If their own buyer agent submits a successful offer, they reduce their listing commission to zero percent. JLee Realty will not receive any more commission if their seller accepts an offer from JLee Realty than if a purchase offer is accepted from any other brokerage.Furthermore JLee Realty is not offering any enticements for a buyer to drop their own buyer agent and use a buyer agent from JLee Realty when they make an offer.
Foster City Real Estate Trends
More information about Foster City CA Real Estate