In this marketplace, the question of "value" is simply answered through the offers that appear on "offer day". There has NOT been a single house that has sold (after having been placed onto the Multiple Listing Service) without multiple offers in the flat section of San Carlos in a long, long time. I'm sure my peers would concur...awesome time to sell in San Carlos, frustrating time to buy. As a Seller, you hold all the "cards".
What I have seen, is that there are some buyers who will accept a bust street, and others who will blanketly NOT!
This would be a mataphor for 1 story and 2 story houses; how much would you have to lower the price, for a person to buy a house that they say; they wouldn't buy?
And what does that prove?
Just an honest opinion. sometimes a busy intersection will affect the value, sometimes not. I sold a home on the Alameda in San Mateo with the same "defect" but it sold for an excellent price. It really depends of the condition of the home, and the size of the lot. White Oaks is a very much sought after area. I don't think it will affect the value of your home.
You may be able to get better price because of the busy street, but remember, when it comes time to sell your not going to get market value.
Best of luck,