Foster City students feed into Burlingame High School, Aragon High School, Hillsdale High School and San Mateo High School. All great and award winning schools. Foster City's home appreciation has always been steady and progressive, sure in the last 16 months we have seen some homes go down in value but compared to other cities, Foster City is a stable real estate market.
Currently there is not much inventory in your price range, however every one in a while a gem will come up in your price range and you will need to be ready. Homes in that price range have a very large audience, be ready to pull the trigger when an opportunity comes your way. Hopefully you are working with a loan agent and you currently have a preapproval letter, if you don't, give me a call and I can refer you to 2 very reputable loan agents.
I have access to properties not yet listed, give me a call and lets see if there is a home out there thay may fit your needs.
Good luck to you and if you are not working with an agent, give me a call< I would love to find that property that you can call home.
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Direct Line: 650-403-6225
Overall, this fact will not affect home values and appreciation. First time home buyers often don't even have kids yet when they buy their first home. Who knows where they will live 10-15 years down the road? The politics of local school systems change constantly, so there is no way to predict what the high school situation will be 10 years in the future. Home values tend to follow elementary school scores.
What your concern right now should be whether you can find a single family home that you like within your budget. Not many choices in the market. Most likely 3 bedrooms 2 baths with 1500sqft house is in the range of high $900K. Talk to a loan agent first to find out how much you can afford, and then work with a Realtor to see what you can get in the market.
Ranking of schools is somewhat subjective and always relative.
I have lived in San Carlos for 22 years - one of my boys went to Carlmont - the other to Serra (private).
San Mateo High schools rank well compared to Sequioa High School District which covers Belmont to Menlo Park. That being said these high schools are not ranked as high as those in Palo Alto or Cupertino.
As Jim notes, high school is a long way away.
You will probably need to spend closer to $900K than $800K to get a 3/2 as you descrive in Foster City Belmont or San Carlos.
San Carlos is a great town - taking nothing away from the other cities.