Home Buying in 94568>Question Details

Zambrotta, Home Buyer in 94568

Does buying a home in an affordable income area affect re-sale value?

Asked by Zambrotta, 94568 Wed May 9, 2012

We are considering buying a townhouse in an area where affordable income rental apartments are also being built for families and seniors. This is in Dublin, CA.

Townhouse - http://www.kbhome.com/new-homes-bay-area/crossroads-at-emera…

Affordable income rental apartments in the same area:

http://edenhousing.org/edenhousing.asp?page=91&PropertyID=176
http://edenhousing.org/edenhousing.asp?page=91&PropertyID=121

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Answers

7
Purchased in San Ramon instead. Found it's better place overall. I like quiet and secure location plus the excellent schools.

But Dublin has more business so it's more convenient.
0 votes Thank Flag Link Fri Aug 31, 2012
Just wondering whether you finally bought a home there or not. I am also considering to buy a home there as I liked their floor plans and the square footage. I also have a similar concern with respect to affordable housing and it's impact on living and home appreciation.
0 votes Thank Flag Link Fri Aug 31, 2012
As pointed out below, BMRs do not affect overall community values because they are not factored into an appraisal for other normal properties. Every city is now mandated by the state to provide low income housing – in cities where there is no more room to build, these are randomly mixed in with normal homes throughout the city – and they do not affect values – most people don’t even know where they are.

The overall value of the property in which you are interested will maintain its relationship to the community over time. As stated below, “low now, low later.”
0 votes Thank Flag Link Thu Jul 26, 2012
Pull the comps in the area and you know the value.
0 votes Thank Flag Link Tue May 29, 2012
When people buy a home, they tend to stay away from places where there are more apartments than there are regular homes (including townhouses) because the perception is that the regular homes won't appreciate in value.

Hope you have a realtor working for you, instead of relying on the builder's sales representative. Have your realtor prepare a comparable market analysis or at least show you the sales trends to give you an even better idea of the market.

Good luck.
0 votes Thank Flag Link Wed May 9, 2012
Hi Zambrotta,

It should have no affect on your value in the future. Those units are predesignated by the builder and city. In the event you wanted to resell in the future, comparables used should be from those of similar type. A Below Market Unit will not be one, and those units can only be resold to someone who qualifies for Below Market Units.

You should expect your unit to appreciate as or depreciate based on what the market is doing. I'm familiar with the units your talking about, they are in the old Komadorski/Arroyo Vista area.

There are many type of townhomes and condos on the East Side of Dublin that are mixed housing and many homeowners who bought regular units saw normal appreciation during their development.

If you have any other questions feel free to contact me.

Best Regards,

Ramon Concepcion,
REALTOR, SFR
Better Homes and Gardens Tri-Valley Realty
(925) 480-7183
0 votes Thank Flag Link Wed May 9, 2012
Low now low later. A slightly distressed home in a good area will have an upside on the resale as long as you bring up to date or clean it up. Carpet and paint goes a long way.

Hope this helps,

Rocky

Rocky G.H. Hawrysz | Prudential California Realty
(209) 444-6610 – Direct | Rocky@PruCalifornia.com | http://www.TeamHawrysz.com | License No. 01468373
0 votes Thank Flag Link Wed May 9, 2012
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