While much of real estate news focus has been on foreclosures and upside-down mortgages, a big-picture look at the market in San Jose is a bit less gloomy, and kind of interesting. As of this week, there were 1,680 single-family homes for sale in San Jose. Of these, 33 were new listings, so even though we’re moving toward winter there is still new inventory coming online.
Articles by Katherine Thornberry
There are a number of new home developments in San Jose, thanks largely to land being redeveloped from industrial and commercial uses: Hampton Park, located off Oakland Road and Montague Expressway; the Villas at Lundy, also in north in north San Jose; Modern Ice Townhomes, at the corner of Berryessa and Oakland roads; and Autumnvale, located off Trade Zone Boulevard.
It’s no secret the real estate market is still depressed, especially when compared to Silicon Valley’s boom years. Those looking to capitalize on the down market will find many foreclosures available—there are more than 300 foreclosed properties listed in San Jose alone, and hundreds more throughout the valley.
Over the decades, an art enclave has evolved on the outskirts of downtown San Jose. Dubbed Martha Gardens, the little neighborhood is loosely bounded by Highway 280 and Third, Fifth and Keyes streets. Adjacent to the Spartan Keyes neighborhood, which includes Kelley Park and Spartan Stadium, Martha Gardens is a mix of residential and light-industrial development, with a few old cannery buildings and aging warehouses mixed in. It began attracting artists back in 1975, when San Jose Sate University established its Art Foundry on South Fifth Street.
What are the most inexpensive properties available in San Jose right now? Believe it or not there are 66 homes listed in various neighborhoods for between $100,000 and $150,000. Notably, over half of these listings are two-bedrooms. This is good news for single buyers who may be interested in sharing expenses with a roommate, couples looking for a starter home or anyone looking for a rental investment.
