All of the construction I have seen in Los Altos has been scrape and build, with a trend in full basements for either entertainment rooms or massive garages. 

The trend now is hardwood floors, which is under the carpets, so I had the last vacant apartment floor sanded and varnished.

Also beware that rents won't stay the way they are forever they go in trends just like the home prices do.

Howzit BPers. Can you recommend websites to research when looking for profitable markets that would forecast 3, 5 or 10 years out regarding SFH and Multifam rentals?  Thanks.... steve

A lot of people don't take transfer taxes, property taxes and capital gains into their equations. but I do.So, I look at trends.

Your fourth point stands out to me: having an insider's view and watching how your specific market trends is a difference maker.

But the markets I follow still have very low inventory compared to demand, and my understanding is that the Hyper Supply phase has two defining characteristics: New construction (which is happening) and increasing vacancy rates (they haven't yet broken their downward trend). 

I don't think we can underwrite off the past few years trends.

There are four sections: national trends, state trends, city/area trends, and neighborhood trends.

The reason this trend tends to happen, from what I've seen, is because there is massive industry (jobs) in LA, and in the greater CV area there outstanding schools, safety, weather, and general quality of life.The SFV, however, has neither incredible industry/jobs nor incredible safety/schools/weather/QoL.