Location, location, location … That’s the first thing that draws many residents to Rex Manor, a small 74-acre Mountain Shadows suburb north of Central Expressway, east of Monta Loma and west of North Whisman. Most residents find Rex Manor is a 15-minute walk from work, school, dining, shopping, entertainment and everything else they could want. When they move into the neighborhood, they discover it’s not only conveniently located, but it’s also charming, serene and friendly. Minutes from Google, Highway 101, Stanford University, San Francisco, San Jose, and Silicon Valley, this desirable neighborhood is providing a robust realty springboard for investors and homeowners alike.
July 1, 2017 Implementation
The California legislature has determined that bed bugs are a significant habitability issue in rental properties, so much so, they have drafted and passed Assembly Bill 551 which imposes new disclosure requirements on landlords, property managers, and owner of rental properties. Beginning July 1, 2017 the new law modifies California Civil Code Sec. 1941.1 and requires landlords, property managers, and owners to provide a prospective tenant (and all other tenants by January 1, 2018), a written notice which provide information about bed bugs, including identification, biology, typical behavior. Importantly, the notification requires tenants to cooperate with landlords, property managers, and owners with prevention and treatment procedures, including the importance of prompt writing reporting by the tenant regarding suspected infestations.
Tech industry growth and the desire among tech workers to live closer to their jobs are among the major reasons why you should invest in Mountain View real estate. Even with tech industry owned luxury shuttle buses to ease commuting hassles, commuting still eats time workers would rather have to spend with family, friends and personal pursuits – and reduces flexibility. Indeed, the local housing market has grown quite competitive as it tries to absorb the workforce influx. Those investing in rental housing in North Whisman continue to see handsome profit margins and long-term equity gains.
As ground zero for the tech boom that is helping to drive the region’s local real estate markets and economies, the North Bayshore section of Mountain View is a real estate market in transition and gaining equity growth year after year. Major companies, including Google, LinkedIn, Apple, Facebook, and Intuit, have contributed to an increasing demand for residential housing via their work forces. This has had a powerful impact on the local residential real estate market, particularly for those investing in North Bayshore real estate – homeowners and long-term investors.
The Mountain View neighborhood named Monta Loma has a rich history that dates back to the pre-Columbian Native American tribes that inhabited the region. Monta Loma in its current form got its start with the housing crisis that faced soldiers returning from World War II. This neighborhood still retains many of the simple one-story homes, also known as Eichler homes, on lots typically between 5,000 and 6,500 square feet. Life in the Monta Loma neighborhood continues to be shaped by the original suburban planning that formed this community. Importantly, Monta Loma is located in one of the more desirable Silicon Valley enclaves, and is at the door-step of Google, Inc. The central location and the ease of access to a majority of the peninsula, Stanford University, and other bay area cities provides support for Monta Loma’s desirability.
Martens-Carmelita is different from other parts of Mountain View because of the rustic feel of the neighborhood and the homes located there. Because many of the homes were built in the 1950s, the atmosphere reflects a feel of times gone by. The tree-lined streets may lack sidewalks, but the charm of the area hasn’t suffered as a result. Located in the heart of Silicon Valley, within a stone’s throw of the most valuable company in the World, Google, this neighborhood is being swallowed up by international investors and residents who adore Mountain View.
This small Mountain View neighborhood has a lot to offer both home buyers and rental property investors. One of the best reasons to live in Jackson Park in Mountain View, California is the rich cultural life this neighborhood boasts. Residents of Jackson Park are an eclectic, interesting group that includes a variety of ethnicities and ages. Home sizes range from small bungalows to large, more luxurious homes. It is this mix of people that gives this vibrant neighborhood a character all its own. The surrounding amenities including Silicon Valley technology companies like Google, LinkedIn, Apple, Facebook, Stanford University, and the San Francisco Bay Area as a backdrop provide ample events and entertainment for all who buy in Jackson Park.
The first quarter of 2016 once again did not fare well for San Francisco Bay Area rental property investors as yield returns compared with competitor counties in other parts of the U.S. were not great. RealtyTrac looked at potential annual gross rental yields of single-family residential rentals in 448 counties in the U.S. where there was a minimum of 100,000 population. The rankings were calculated by dividing the annualized monthly rents by the medium home prices. The RealtyTrac study concluded that rents are rising faster than medium home prices in 45 percent of the markets which demonstrates strong demand in those markets. Importantly, rental growth rates were outpaced by annual wage growth rates in 43 percent of the markets which logically will lead to increased rental returns in the near future.
In a rapidly changing world like ours, it’s only natural there is some nostalgia for simpler, more familiar times. After all, no change comes without cost, some of which many don’t begin to calculate until they are raising children or finally have time to slow down and focus on living, rather than on career pressures. A lot of the investing in Gemello, Mountain View real estate by residential home buyers is driven by people who appreciate the traditional, classic American lifestyle. That lifestyle is what sets the Gemello neighborhood of Mountain View apart from the others in the area. Located in the bullseye of Silicon Valley, within a few miles of Stanford University and walking distance to the most famous company in the world, Google, Mountain View, CA is an international magnet of desirability.
When municipal policy makers and urban living pundits talk about the walkable city of the future, what they’re really talking about is urban living the way it used to be, the way it has been in downtown Mountain View for years. The numerous historic homes and other buildings in this neighborhood are a testament to how long this vibrant, energetic neighborhood has been attracting homeowners and investors. Life in downtown Mountain View is a model of just how fabulous walkable cities can be. Moreover, with Silicon Valley, Stanford University, and Google Worldwide Headquarters all at your doorstep there may not be a better Northern California downtown to live in.