Steve Mun

@stevemun.bsky.social

Silicon Valley resident and #Realtor. Husband, dad and dog lover. I post data and otherwise useful information to help you understand about the real estate space. linktr.ee/stevemungroup www.stevemun.com

Gilroy residents didn't know about a data center until it was already under construction. Now Bay Area cities from Pittsburg to San Jose are pushing back. If you own or want to buy in the South Bay, this pushback shapes what gets built near you. No one want to live next to one. It hurts home values

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Update: after the wildfire bill died in Sacramento, PG&E is cutting $2B in 2027 spending, warning of delays to new home and business power connections in the South Bay. Consumer Watchdog calls it a "capital strike" to pressure the State. Who's right?

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Wildfire survivors from the Eaton and Palisades fires just got a Sacramento bill killed, saying it favored utilities over victims. Not over yet, a special session may bring it back. Worth watching if you're near fire risk in the South Bay.

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It costs $55K a year to retire in the San Jose metro, the highest in the US. Near Blossom Hill light rail, a developer just pivoted from market rate apartments to 165 senior housing units. Santa Clara County's senior population keeps growing and future housing development will be affected.

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A revived federal rule could strip work permits from H-4 visa holders, spouses of H-1B workers. About 230,000 nationwide, many in Silicon Valley dual income households. Watching what this could mean for South Bay families and our local housing market. Going double to single income.

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9,635 odor complaints since 2015 at the Newby Island landfill near Milpitas and $210,000 fines. New air district order requires real time monitoring and drone methane surveys, deadlines over 2 years. Local South Bay update. Steve Mun, San Jose Metro Realtor

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Forget free lunch. A South Bay AI chip company gives employees a personal lawyer as a work perk, covering speeding tickets, contract negotiations, even divorce. This is Silicon Valley compensation right now. Heard something wilder? Tell me below. Steve Mun, San Jose Metro Realtor

Dolly Parton spent 40 years returning to the same booth at a small California hotel and chose quiet towns like Solvang and Idyllwild for her own homes. Even the biggest stars want to be known and not just recognized. Deep down inside, we call seek the same sense of belonging in our homes. RIP Dolly

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NYC passed the Bay Area in tech jobs, but the same report still ranks the Bay Area first overall, with higher average salaries and most AI jobs nationwide. San Jose Metro real estate fundamentals are still strong when looking at what really matters for most tech people.

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CA just moved closer to legalizing plug-in solar statewide. Plug directly into outlets, no other connection. But PG&E against it. Landlords and HOAs here can still say no though. Big in Europe and Asia. Would this affect your buying decision on an HOA?

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In 1999 a highway call box call cost 42 cents. Today in Santa Barbara County it costs $510, as usage dropped 90 percent with cellphones. The Bay Area already went through this shift years ago. The result of infrastructure not keeping up with changes in technology. Keep them or remove them?

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Fortinet bought this Sunnyvale site for $44 million in 2021, planned for offices. Now a developer wants 137 townhouses there instead. Tech land turning into housing says a lot about South Bay demand and where developers think growth will happen.

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75 data center projects worth $130B blocked or delayed in just 3 months this year, nearly matching all 2025. Michigan, NY, TX, and PA are all pushing back. One of the biggest local land use fights right now, worth watching in the South Bay too. For those who thought they were powerless?Look here.

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30 years to build. 3 days to close. Vine Hospitality closed all 7 of its Bay Area restaurants in 3 days this June. A lawsuit filed 9 days later revealed a lot more was going on. Expansion plan while going broke.

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Foreign home buying hit its 2nd lowest level since 2009 nationally, but California stayed the #2 destination for international buyers in the country. Chinese buyers still spent the most per home, near $1M, mostly in CA. Market activity differs by price point.

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San Jose's council stopped short of quadrupling density limits (32 home/acre) in single family zones this week. Staff will now study a range of options before a final vote in December 2027. Big deal for San Jose and Santa Clara County property owners. Steve Mun, San Jose Metro Realtor

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Two anchor vacancies at Cornerstone of Los Gatos just got filled fast. Gus's Community Market and Club Studio leased the old Whole Foods and Rite Aid spaces. Good signal for Los Gatos property values and local economy.

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$3,220 to skip the Bay Bridge commute New survey: Bay Area drivers would give up $3,220 a year to avoid the MacArthur Maze into the Bay Bridge, California's worst commute. Beat two LA freeways. 46% nationwide have turned down a job over commute stress. Do you agree we have the worst traffic?

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Even Socialist candidates nationwide are now running on pro-building housing platforms. A shift that matters for zoning debates in Santa Clara County and San Jose Metro too. National shortfall estimate: 4 million homes. Everyone agrees building more is the solution.

Downtown San Jose grocery update A boutique grocery store is leasing space at 188 West St. James in San Pedro Square, downtown San Jose. Fresh food, salad bar, hot bar, burritos, walkable for 600+ residential units above. Downtown living keeps getting more livable. Steve Mun, San Jose Metro Realtor

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New Fannie Mae and Freddie Mac rules raise condo reserve requirements from 10% to 15% starting next year. Means assessments for many. Buildings that fall short could see buyers denied standard financing. San Jose Metro condo owners and buyers, focus on this in disclosures. Could save you money.

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Cava just confirmed its first ever Bay Area restaurant at Santana Row in San Jose, ending a run where every California location sat in Southern California. Two more Bay Area locations are planned closer to San Francisco.

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Santa Clara Valley Medical Center's Rehab Center just ranked #8 in the US, third year running. A public hospital serving all of Santa Clara County. Real infrastructure that supports long term neighborhood value for South Bay buyers. People pay to live in areas with superior infrastructure.

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California just posted the lowest underwater mortgage rate in the US, 0.7%, per a new Cotality report. Low negative equity means sellers aren't desperate and prices hold a stronger floor. Part of why South Bay real estate stays solid. Steve Mun, San Jose Metro Realtor

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New SJSU report: top 10% of Silicon Valley residents control 75% of regional wealth, bottom half hold less than 1%. It now takes $460K+/year income to afford a typical San Jose home. This is reshaping who can actually buy here.

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A lot of Bay Area buyers are waiting for mortgage rates to drop. Forecasts say mid to low 6s through 2027. Waiting may not pay off as prices rise. Builder incentives, ARMs, assumable mortgages, and buydowns can help affordability now. Know you option and plan. Steve Mun, San Jose Metro Realtor

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Amazon just confirmed a new gas plant in Texas, built for one AI data center, that could out-pollute every power plant in the US. Silicon Valley is home to the AI boom driving this. Power demand is quietly becoming part of the Bay Area real estate story. You can bet those will come here next.

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A neighbor says she's watched equipment and structures vanish from Miranda's Rescue for a week. A round pen sold, a horse shelter taken apart, a trailer gone. The founder just listed his Las Vegas home for over a million dollars. Bay Area donors, ask questions. He cannot personally benefit.

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A Foster City man faces charges after his unattended propane grill sparked a six alarm fire that displaced more than 100 people from a 51 unit condo complex. A reminder for San Jose Metro balcony grillers: never walk away, even for a minute. And HOA rules will certainly change now.

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CA homeowners with a mortgage average $627,000 in equity, the second highest in the US behind HI and more than double the national average.TX average $200,000, and in FL $288,000. For South Bay homeowners, that equity is real leverage for your next move. Steve Mun, San Jose Metro Realtor

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