San Jose – Best City for Home Sellers

In a recent Forbes magazine article (www.forbes.com) the City of San Jose California was rated best city for home sellers. According to the article:

…tough regulatory measures make it difficult to overbuild. New home construction dropped 63% last year, while jobs grew by 1.2%. Home vacancies, which were already low at 1.6%, fell to a national bottom at 0.8%, helping make San Jose one of the country’s tightest markets.

 This reaffirms the feeling that some real estate professionals, including myself, have been feeling for a while. That San Jose and the greater Silicon Valley Real Estate is still a wise investment for most people. Although we are seeing some specific neighborhoods effected by large amounts of foreclosures and short sales, we see others that are holding strong with sales increases and multiple offer situations. All real estate is very local, and each neighborhood or area has it’s plus and minuses, but it’s nice to know that overall San Jose is faring quite well.