If you’ve been following our blog or just awake in Silicon Valley (easier said than done… what a year!), then you know all about the development of Google’s proposed transit-oriented community that could bring 15,000-20,000 workers to San Jose. If you missed our latest update, you can read about Google’s property investment and land use intentions HERE.

You may be wondering if rising rates and the changing market are halting the so-called 'Google effect' in the surrounding areas. Given the solid state of economic fundamentals (steady job gains, record low unemployment and consumer confidence at 18-year highs) PLUS a recent deal in the heart of Midtown, the answer is a clear ‘nope!’.

The Mercury News reports, as verified by Santa Clara County property tax records, that a major real estate developer purchased Midtown Apartments, located at 1432 W. San Carlos. This 218-unit residential complex lies in a transformative area – situated adjacent to downtown and en-route to Santana Row and Westfield Valley Fair.

The seller of the apartment development, Republic Urban, declares that “Midtown is one of the most important neighborhoods in San Jose, especially with what the city is trying to achieve with Google and its investments in downtown San Jose…”. This commentary serves as a reminder to us all not to let today’s market moderation changes prevent you from looking ahead to tomorrow.

Midtown is one of just dozens of San Jose neighborhoods that is poised to be largely impacted by Google's objectives. Downtown San Jose and gateways to it are primed with potential for growth. Buyers, sellers and investors who create a focused strategy in the present may have much to look forward to in the future – and we can help! But we highly recommend you lay out your plans now - before rates rise any further.

Please don’t hesitate to reach out and we can chat about the Google effect’s impact on where you are and where you want to be. It’s one of many factors we can use to help you strategize a timetable and action plan to achieve your personal and financial real estate goals.

Be sure to ask us about our upcoming listing located in Downtown San Jose – with some solid rental potential! You can even get a sneak peek in our video market update HERE!

Resource Used: San Jose apartment complex near malls, downtown train station is bought in big purchase

Let's talk soon,

Mark & Jason