Housing prices in the Silicon Valley are at an all time high. What is even more difficult is that most homes get multiple offers and many sell 10-25% over list price. It is very difficult to get a grip on even how much to offer on a property to be competitive. Then, if you do offer enough, but ask for any contingencies, your offer is almost always rejected. Finding a nice house under $600,000 is virtually impossible, and many people have long commutes to work no matter how much they have to spend.
We are very lucky to live someplace where there is such high employment, but it comes at a cost.
What is the answer if you want a home, some privacy, and can only spend 700K or less?
My suggestion is try Felton. This lovely community in the Santa Cruz Mountains has a lot going for it.
In 2015 the average sales price of a Felton home is $498,000 with a low of $290,000 and a high of $1,642,500. And, as you can see from the chart, the average sales to list price ration is in the 102% range, rather than the 117% found in so many other communities. It is much easier to figure out how much something will sell for in Felton than in other parts of the Silicon Valley.
Felton has easy access routes to the Silicon Valley along highway 17 or 9. It is less than 30 miles from Felton to downtown San Jose, and about 35 miles from Felton to Mountain View. This compares favorably to the commute from South San Jose to Mountain View or from Fremont to Mountain View.
Downtown Felton is cute, accessible, and has some very nice new additions, including a New Leaf Grocery Store (like Whole Foods but less expensive) and The Cremer House, which reminds me of a Brooklyn Restaurant.
The San Lorenzo Valley School District is also a big draw for Felton. With San Lorenzo Valley Elementary API at 871, San Lorenzo Valley Middle School, API 833, and San Lorenzo Valley High School API 828, and all schools located in Felton, they provide great education and the benefits of a small unified school district.
So think about it. A comparable commute, comparable schools, a cool downtown, and an average price of housing less than half of what you find in the Silicon Valley, maybe you should give Felton a look.
If you want to search for homes for sale in Felton click here.
Cal BRE 01191194