San Jose CA

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Venture Capital Is Growing In Silicon Valley

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The news media has reported both tech companies and venture capital firms leaving Silicon Valley. Indeed the percentage of all US venture capital activity has declined in the Bay Area over the last decade. However end of year 2020 venture capital data (from PitchBook) shows over 2,500 VC deals completed in the Bay Area which is over that of 2019, with more data still expected.

Over the last five years, over $151 billion of fundraising has happened in the Bay Area which exceeds the rest of the US combined. Bay Area VCs have funded 17 of the 22 US companies to ever receive a private valuation of $10 billion or more. Los Angeles had 3, New York had 1, and North Carolina had 1. Over the past five years, 23.6% of completed VC deals in the US, and 40.9% of the capital invested, have gone to Bay Area-based companies.

Although real estate prices can move quickly, any changes in Silicon Valley real estate trends caused by the venture capital industry growing in other areas, are probably quite a few years away.

San Jose Rent Prices Increase Slightly – 1st Time Since March

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The San Jose median rent price increased for the first time since March 2020. SF rent prices also increased for the first time since April 2020. They caution that increases are typical for this time of year so it may not indicate that effects from the pandemic are decreasing.

City1 Bed Rent (m to m)(y to y)2 Bed Rent (m to m)(y to y)
SF$2,680 (0.8% )(-23.9%)$3,500 (0.0%)(-23.1%)
San Jose$2,130 (1.9%)(-12.7%)$2,660 (0.40%)(-10.1%)
Sacramento$1,400 (-2.1%)(7.7%)$1,730 (0.0%)(15.3%)

Sacramento median rent prices are up year-to-year suggesting many renters are relocating within California (possibly expecting to return to their former location).

View San Jose house prices or San Jose condo prices.

California Good Neighbor Fence Act

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When deciding to fix or replace a property line fence, you need to understand the California Good Neighbor Fence Act. It makes both neighbors equally responsible for the cost of repairing or replacing a property line fence. A key requirement is that you have to notify your neighbor(s). Most people would talk with their neighbor but few would normally follow the steps specified (30 days’ prior written notice to each affected adjoining landowner).