All about Life & Real Estate in Silicon Valley – Broker Michael Koo's Blog.

California has no state law assigning closing costs. Purchase agreements usually decide, but regional customs still shape who pays and create room for negotiation.
Southern California usually puts owner’s title insurance on sellers, while Northern California often puts it on buyers; lender’s title policy stays with buyers when financing.
In LA County, sellers customarily cover a $1.10 per $1K documentary transfer tax plus a $4.50 per $1K City of Los Angeles tax.
For LA sales above $5.4M, a local transfer tax measure adds ~4%; above ~$10.9M, it climbs to mid-5%, usually charged to sellers.
One clearer practice: Southern California escrow fees are often split. Because customs are not law and remain negotiable, using a local agent is wise.

Cash sales made up ~25% of US existing-home transactions in recent years, giving investors a quicker read than mortgages or construction starts.
When cash share rises with climbing prices, buyer competition is likely; when it rises as volume falls, financing friction may be sidelining financed purchasers.
If cash share falls while prices hold, credit conditions may have loosened, helping regular buyers reenter and restoring more normal market activity.
Small cash operators often target probate, tax delinquency, deferred maintenance, and relocation cases; affordability pressure keeps older homes in demand even when financed sales stall.
US single-family investing depends on local taxes, title insurance, renovation labor, and street-level management, making scale difficult and rewarding disciplined local operators.
Looking ahead, margin consolidation is more likely than marketwide roll-ups, and international investors may benefit more from partnering locally than buying directly.

Home sales are expected to strengthen modestly as lower mortgage rates and improving affordability encourage more buyers to re-enter the market.

• Home prices should continue rising at a measured pace, supported by limited inventory despite ongoing affordability and insurance challenges.

• Inventory is projected to improve gradually, giving buyers more negotiating power while reducing the intensity of bidding wars.

• Economic uncertainty remains a headwind, but California is expected to finish 2026 with moderate sales growth and stable market conditions.

Santa Clara County’s taxable property value reached a record $760B, lifting the assessment roll that helps fund local governments, schools, and public agencies.
The assessment roll expanded by $34.4B, a yearly gain of ~5%, led by ownership changes, inflation adjustments, and $4.9B from new construction.
Ownership changes added $16.9B in assessed value, while inflation adjustments contributed $14B, showing resales and routine increases carried much of the county’s growth.
Residential sales generated 82% of value from ownership transfers, underscoring how housing supported Santa Clara County’s tax base even as elevated mortgage costs cooled demand.
A key watchpoint: ~$153.6B in assessed value was under appeal, with commercial properties driving 98% of challenges and billions in lost value.
Looking ahead, the county assessor warned more commercial appeals could pressure the roll, while construction remained a bright spot even with several major projects delayed.