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

Santa Clara County’s taxable property base reached a record $760.1B for fiscal 2026-27, ↑$34.4B, as resilient home values offset overall commercial weakness.
Ownership changes supplied ~50% of the yearly gain, and residential transactions generated ~80% of transfer-related value, underscoring housing’s importance to county tax revenue.
New construction added $4.9B, a bright spot below historical expectations, as several major development projects across Santa Clara County remained delayed recently.
Commercial pressure persisted: office vacancy stayed near 20% for a third yr, with $153.6B under appeal and 24.7K properties in decline-value status.
The county expects more commercial assessment appeals in the current year. The assessor also expressed long-term confidence, while ~50% of tax revenue supports schools.

Here’s a quick update on the Sunnyvale housing market. More homes are selling this year, and prices remain stable. Buyers and sellers are seeing consistent activity, with homes moving at a steady pace.

Buying isn’t just a home — it’s a wealth-building move for your future.
Example: Buy a $300K home with 5% down = $82K equity in 5 years.

Here’s a quick update on the San Jose real estate market. Homes are selling at a similar pace as last year. The number of homes available and sold remains consistent, showing steady activity.

A family of four needed $403K yearly to live comfortably in San Jose, placing the city second on a new ranking of major US metros.
The benchmark followed a standard budget split, balancing necessities, discretionary spending, and future savings to define what comfortable living looks like for families.
That comfort measure included basic costs like housing, food, utilities, transportation, and hobbies, showing how everyday expenses shape the income target in San Jose.
San Jose’s placement reflected broader California pressures, including a severe housing shortage, high taxes, and strict regulations that can raise the cost of living.
The national median household income for a family of four was $125K, far below the level tied to comfortable living in San Jose.

In Late-Q2, US asking prices fell ~3% yearly, the eighth straight decline, while pending sales rose ~4% yearly for a seventh straight month.
The national median listing price reached $430K, active inventory topped 1.1M homes with yearly growth, and new listings also increased, expanding buyer choice.
Homes spent a median 53 days on market, matching the prior year and resembling prepandemic timing, a sign transaction activity had stabilized.
Sellers appeared to price more realistically: ~19% of active listings had reductions in Late-Q2, down ~2 points yearly, while cancellations stayed below prior levels.
A typical Early-Q3 slowdown was expected, but the market had not yet shown longer selling times, faster price cuts, or fewer new listings.

Inherited US homes usually get a stepped-up basis, resetting cost to fair market value at death instead of the original purchase price.
That means a home worth $450K at inheritance and sold for $460K later may create only ~$10K of gain before selling costs.
With US prices only slightly higher yearly, heirs who sell soon after inheriting often face little added appreciation beyond the stepped-up basis.
Because the reported gain is usually smaller, the sale often avoids sharply higher taxation of retirement benefits and reduces risk of future federal health-premium surcharges.
Before selling, secure a date-of-death appraisal, track selling costs and improvements, and remember longer holding periods can build new taxable gain later.