San Jose Flea Market

VTA officials are planning a Berryessa BART station near San Jose Flea Market as a part of future BART line through East San Jose. As result the owners of the San Jose Flea Market on Berryessa Road want to sell their land for development of 2,800 new homes and 365,000 square feet of retail place, and move the almost 50 year-old Flea Market to a new undisclosed location.

Metropolitan Cupertino homes sold

19 condos sales out of 107 available condos were reported in Metropolitan Cupertino between August 1, 2006 and March 11, 2007 according to the neighborhood homes sold listing in San Francisco Chronicle. The newspaper not guarantees the completeness or accuracy of the information, but it is still surprise. Meanwhile Santa Clara County the median price of condos rose one percent compared with February 2006, to $505,000.

Tantau Development

Last month Pacific Resources Inc. drops building plan and withdrawal application to build 125 single-family attached residential units on North Tantau Avenue north of Interstate 280 near new Apple campus in Cupertino and sold the land to unknown buyer (I suspect that unknow buyer is Apple).



Pacific Resources, a San Francisco based, real estate company, acquired Hewlett-Packard's building complex at 10300, 10400 and 10501 North Tantau Ave in Cupertino, as part of a larger rejuvenation in the area around the Cupertino Square (former Vallco) shopping center two year ago for $25 million. Initially the company planned to upgrade buildings and surrounding landscape and lease them as offices, but later decided to demolish properties and construct 125 townhouses plus small public park.

Rich pays less in taxes and for real estate

Rich pays less in taxes and for real estate.

According to a new Congressional study, families earning more than $1 million a year saw their federal tax rates drop more sharply than any group in the country as a result of President Bush’s tax cuts. The study, by the nonpartisan Congressional Budget Office, also shows that tax rates for middle-income earners edged up in 2004, the most recent year for which data was available, while rates for people at the very top continued to decline.

Let take a look on real estate in Santa Clara County. The cheapest property in Silicon Valley today is 456 square feet 1 bedroom/1 bathroom condo at 1988 PRINCE GEORGE DR, San Jose (MLS 665779), the most expensive house in Santa Clara County is 12160 square feet 5 Bedrooms/4+ Bathrooms detached house at 47 VIEW ST Los Altos (MLS 669210). The cheap condo has price $252,888, the expensive house priced as $27,000,000. In per square feet pricing the condo owner would pay $554 and home owner $2200, but do not forget almost one acre lot (43,560 square feet in an acre), so it gives us just $619 per square feet of property.