New Housing Developments Begin Including Granny Units
On January 29, 2021 Weingarten Realty Investors submitted an updated plan for San Jose's Cambrian Park Plaza which proposes having 30 houses to now include granny units on the ground floor. The granny unit would have its own entrance.The second and third floors would be an entirely separate single family dwelling from the granny unit below.One San Jose City Council member, Pam Foley, has voiced support for the addition of the granny units saying it is "one way to naturally add affordability into any project".With the new California wide regulations on Accessory Dwelling Units (ADUs, granny units, backyard cottages), this is likely to become commonplace for new Silicon Valley housing developments. It is a path to meeting demands placed on many Silicon Valley cities for both more housing and more affordable housing.
Real Estate Commission
Real estate agents have been creating new real estate commission plans. JLee Realty has recently implemented a 0% real estate listing commission plan. Their expressed goal is to attract as many buyer agents to their listings as possible.If their own buyer agent submits a successful offer, they reduce their listing commission to zero percent. JLee Realty will not receive any more commission if their seller accepts an offer from JLee Realty than if a purchase offer is accepted from any other brokerage.Furthermore JLee Realty is not offering any enticements for a buyer to drop their own buyer agent and use a buyer agent from JLee Realty when they make an offer.
Belmont Real Estate Trends
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