How real estate and finances mix in SJ’s 2022 market

The biggest real estate stressors in SJ

Presented by an SJtoday Partner

Opendoor’s first-ever Financial Wellness Study looks at how people are tackling their finances and homeownership, along with the stress it can cause. | Photo provided by Opendoor

Financial wellness and homeownership are two sides of the same coin. A recent study from Opendoor found that 56% of current + prospective homeowners think about their finances for at least 30 minutes every day. (We feel that. 💸)

Homeownership is a major milestone of financial security that many aspire to — but it can be just as stressful financially as other ultimate goals like saving for retirement and saving for a child’s education.

Fast facts:

37% of prospective homebuyers believe that homeownership will improve their quality of life.
More than 78% are considering buying their first home in the next five years.
53% want to buy within the next two years.

If you’re a part of these percentages, join us as we take a look at how San Joseans are tackling their finances + homeownership and how it affects their stress levels. (Read: You’re not alone if you’re sweating over downpayments. 😅)

The biggest real estate stressors in SJ — Opendoor can buy a home for you and hold it while you secure your financing.

SJ real estate stressors by the numbers

The “right” time to buy a home is after Californians have paid off their debt. When San Joseans are no longer focused on paying off debt or investing in home improvements, many are likely to consider real estate investments; 47% of whom are thinking of buying a home in the next five years.

Bonus: Opendoor recently announced a financing app that enables consumers to get a mortgage pre-approval in less than two minutes — and it’s currently available to CA customers.

Home is where success is… according to Californians. In the sunshine state, 26% of residents are likely to feel stressed by homeownership given their greater association of homeownership with success and the pressure they feel to own a home.

Californians are flexible on financing, not location. While in general, West Coast residents are more open to moving to a less desirable neighborhood to afford a home (with about one in four open to it), only 57% of Californians would make the move (compared to 65% nationally).

47% of West Coasters are open to buying a home as an individual and 27% of Californians, specifically, are amenable to non-traditional financing.*

TAKE THE STRESS AWAY

This content was created in partnership with Opendoor and written by Garcelle Vierra Erdie.*

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Tuesday, October 25

San Jose Sharks vs. Vegas Golden Knights | Tue., Oct. 25 | 7:30 p.m. | SAP Center at San José, 525 W Santa Clara St, San Jose | $21.00 - $452.00 | Let’s take to the Tank.
Turntables & Tacos | Tue., Oct. 25 | 5 p.m.-2 a.m. | Mama Kin, 374 S. First St., San Jose | Free | Take a night off to splurge on these $2 tacos + $6 drafts all night long.

Wednesday, October 26

Field To Table | Wed., Oct. 26 - Sun., Oct. 30 | 5:15-10:30 p.m. | PayPal Park , 1123 Coleman Ave, San Jose | $119.00 - $149.00 | This dining series features 12 of the best chefs from around the Bay Area.
Jay Allen | Wed., Oct. 26 | 8 p.m. | Club Rodeo, 610 Coleman Ave, San Jose | $15.00 | This contestant from “The Voice” is joined by new country artist, Kylie Morgan.
Slater’s 50/50 Grand Opening Event | Wed., Oct. 26 | 11 a.m. | Westfield Oakridge, 925 Blossom Hill Rd, San Jose | Free | Burger lovers, this one’s for you.

Thursday, October 27

Rivest Dunlap | Thu., Oct. 27 | 8 p.m. | San Jose Improv, 62 South 2nd Street, San Jose | $20.00 - $70.00 | Fresh off an illuminating experience with psychedelic therapy, this comedian explores his complex cultural identity.
Wines of Campania Festival: A Walk Around Wine and Food Tasting | Thu., Oct. 27 | 5:30-7:30 p.m. | Eataly Silicon Valley, 2855 Stevens Creek Blvd, San Jose | $75.00 | Take a trip to Southern Italy on your taste buds.

Friday, October 28

NTLive: Frankenstein (Benedict Cumberbatch as Creature) | Fri., Oct. 28 | 7 p.m. | Hammer Theatre Center, 101 Paseo de San Antonio, San Jose | $20.00 | A filmed performance from the UK’s National Theater featuring Benedict Cumberbatch + Jonny Lee Miller.

We have a monthly guide filled with events + activities you can plan for in advance. Click the button below to bookmark ideas for upcoming date nights, family outings, and time with friends.

OCTOBER'S NOT OVER

Weather

71º | Partly cloudy | 7% chance of rain

Development

Two real estate firms have partnered to work on a 166-apartment complex project proposed for a 1.2-acre site close to Downtown at 802 S. First St. It is expected to include 1,500 sqft of retail space on the ground floor — no construction timeline has been announced as of yet. 🏗️ (The Mercury News)

Community

A non-native species of mosquito has been found near the intersection of Dixon Landing Rd. + McCarthy Blvd. and the county is urging residents to get rid of any sources of standing water on their properties. Follow the county’s tips to help. 🦟

Opening

From Fri., Oct. 28 to Sun., Oct. 30, 386 Lounge will celebrate its grand opening weekend in the SoFA District at 386 S. First St. — the former location of The Good Spot. There will be a featured DJ on Friday + a costume contest on Saturday — no cover charge. 🎉

Traffic

Planning on a Japantown visit this week? From today to Weds., Oct. 26, repair work will be done on Jackson St. between N. Fourth + Fifth Streets. Expect limited parking and detours. 🚧

Civic

District 19 US Congresswoman Zoe Lofgren recently secured $3 million to go towards four community projects in Santa Clara County. This includes funding for SJSU’s Healthy Development Community Clinic + SOMOS Mayfair’s community center in the new Quetzal Garden apartment complex. 💰

Ranked

Halloween is around the corner... and you’re in the perfect place for it. San Jose was recently ranked No. 6 of 100 best US cities for Halloween based on factors like costume stores per capita + percentage of trick-or-treat stops. Plus, there’s a ton of local activities to enjoy the fall holiday. (WalletHub) 🎃

Transit

Light rail service will be shut down between the Capitol + Blossom Hill stations this Sat., Oct. 29. A bus bridge will be available. You can receive more VTA updates by subscribing on its website. 🚉

DYK

Did you know you can support SJtoday through our retail store? We’re celebrating San Jose’s unique landmarks and history with our online shop. Show off your San Jose pride with stickers, hoodies, mugs, and more. No need to wait. Start shopping.

Real Estate

Opendoor + Zillow are joining forces. The new multi-year partnership will allow Zillow sellers to request an Opendoor offer. Customers will be able to use Zillow’s service as a standalone offering or package it with other Zillow home shopping services (read: financing, closing or agent selection). 🏡 *

Shop

Here’s a friendly reminder that we’re less than a week out from Halloween. Have you bought your costume yet? What about the candy? And if you wanna be the coolest parent or grandparent on the block — while increasing your trick-or-treater’s nighttime visibility — grab this affordable 100-pack of glow sticks.*

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The road less traveled...

Urban legends and ghost stories from San Jose, CA

A Google Maps screenshot of the intersection of Mt. Umunhum Rd. + Hicks Rd.

Hicks Road’s urban legend stays a mystery for many. | Screenshot via Google Maps

Now for one of the most infamous roads in San Jose…

Winding through Almaden Quicksilver Mines is Hicks Road, a locally known road that is rumored to be inhabited by satanic cults, cannibals, or blood-sucking beings — although no evidence has been found to support these theories.

In August 2021, local podcast San Hauntse explored the urban legend’s 1970s origins + personal accounts from locals. The hosts even sat down with Julian P. Flores, the director of the 2009 film “Hicks Road,” and author of “Hicks Road: Jacob’s Story.”

Author of Haunted San José, Elizabeth Kile, also touched on the various iterations of the road’s story in her book — including a ghostly woman in white and a vanishing hitchhiker. 👀

Do you believe in these legends? Know any others we should feature? Let us know.

THE WRAP

Today’s issue was written by Alyson.

Editor’s pick: Psst... we will soon be sharing a seasonal recipe from a local favorite — and turns out, they’re offering 50% off a second drink purchase from now until Halloween, if you wear your costume to the cafe. Here’s your spoiler for the upcoming featured spot. ☕

Missed yesterday’s newsletter? See how you can join the flying car fleet in a few years.

Connect with us.

Editorial: Alyson Chuyang, Nicole Calande, Trevor Peters, Britt Thorson, Ashlea Hearn, Emily Shea | Send us a scoop, question, or feedback.

Sales: Allie Wetteland | Advertise with us.

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