It’s a result of the recession—not only are people not buying new homes, they're not building new homes either, in Santa Clara County or anywhere else in California for that matter. » Read More

Unemployment may have inched down in San Jose-Silicon Valley, from a record 12.1 percent to 11.8 percent, but that's no consolation to property owners in Santa Clara County. More than 43 million square feet of office space—the equivalent of 15 Empire State Buildings—still stand open in the county. Just three cities—San Jose, Sunnyvale, and Palo Alto—have eleven empty office towers between them, comprising 3 million vacant square feet. » Read More

With an estimated 9,000 San Jose homes currently in foreclosure, Mayor Chuck Reed has decided its time to step in and have the city step in and help. City Council approved a new measure to favor banks that assist troubled homeowners by modifying their mortgages. » Read More

The Mountain View City Council approved a new, low-income housing project on Tuesday, but the project's neighbors on 108 Bryant Street are not too happy about it. The new project would consist of a four-story structure with 51 units. Two designs are currently being discussed: one, a traditional Mediterranean style building, and the other, a more modern structure. » Read More

There are rumblings that the economy is improving, but that's hardly felt these days in the Santa Clara real estate market. The number of homes in the process of foreclosure rose dramatically this year, from a low of 1,661 in February to a high of 4,661 in October, an increase of almost two hundred percent. While the number of foreclosure sales has more or less flat-lined in that time, they still stand at 479, almost double the March low of 247. » Read More

The commercial real estate market can expect another hard year in 2010, with recovery delayed to 2011. This is the finding of a new LoopNet poll for Q4 of 2009, surveying investors, brokers, and property owners. » Read More