Yes I've sold BMR's and know of some really BEAUTIFUL ones available. As long as it's a nice development, you can expect your BMR to go up in value 5-10% every year. It has to do with incomes.
BMR's are allowed to go up in value every year at the same percentage of average incomes in the area. So long as average incomes rises, so will your BMR. The restrictions on resale require that you sell to a low or moderate income qualified buyer. As low and moderate incomes rise, those low and moderate income borrowers will qualify to borrow more money and pay you a higher price on your BMR home.
Low and moderate incomes in the Bay area have been rising at a very high rate for the past 35 years and San Mateo is one of 4 counties with the highest incomes in California. This means that BMR's will climb in value every year at a steady rate, perhaps at a faster percentage than market rate properties. At no time will BMR exceed market rate properties values, but it is possible that they could sell at similar rates in the future. It all has to do with incomes in the area.... more