Home Buying in Sunnyvale>Question Details

webmihir, Home Buyer in Sunnyvale, CA

Elementary School Districts in Sunnyvale/Santa Clara area

Asked by webmihir, Sunnyvale, CA Wed Sep 25, 2013

I am a first time home buyer looking to invest in a condo or townhome with a budget of around $550k. With a one year old kid, our top priority is to have a decent elementary school and atleast 2bd/2ba. If the condo does not have a decent middle school, its OK - we will be looking to rent out the condo once the kid is out of elementary school.

Any suggestions on which zip codes to look at? I am currently looking at 94087 (Cumberland, West Valley, Stockelmeir). Any other areas I should look at.

Also, what is the general feeling towards this being a good time to buy? I know I am late to the market since the lowest prices were about 2 years ago - but with interest rates climbing, so people think it is still a good time to buy?

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Answers

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Hi Webmihir, as others have mentioned, buying makes sense when you plan to benefit from the schools for a long period of time, as you said.

Generally fall is the time to get the lowest/best price on homes.

I have a tool I can share with you to help you explore all of the options that fit within your parameters. Send a text or an email off-line to getresultsteam@gmail.com.
0 votes Thank Flag Link Fri Oct 4, 2013
There are a lot of good elementary schools in the Sunnyvale-Santa Clara area. I have tabulated the schools, API scores and GreatSchools.net ratings on my website at http://www.SiliconValleyMLS.info.

The schools you mention are top elementary schools with top middle and high schools. As a result, you are paying a price premium to have all three schools. You will probably get more for your money in a neighborhood with strong elementary school and not so strong high school.

Given our relatively low inventory of listings, I recommend defining your search by city. There are current 10 Active Listings for 2/2 Condos priced $450k to $600k. Not too many to research.

As to good time to buy - most local economists and Realtors expect prices to continue to rise 5-10% per year. Interest rates are also expected to continue rising. Combined you should expect to lose purchasing power over the next few years.
0 votes Thank Flag Link Mon Sep 30, 2013
I believe the biggest uncertainty in the real estate market is future government policies. Will tax policies change in the future? They are constantly tweaked, whether there will be a significant change is not as clear.

I think buying a home to live in while your child is going through school is a very good idea. You are planning to stay for several years so home ownership is probably the best choice.

To get a quick look at what is available near highly rated elementary schools see:
https://www.realscout.com/search?agent_ref=380#pmax_550000/b…

You will get the best results by working with an experienced agent. Your agent will help you quickly learn what is most important to you (believe me it is a learning process) and make a big difference when you try to buy the home you find.

You would probably find my home buying seminar very worthwhile:
http://julianalee.com/buyer-seminar.htm

To get an understanding of Sunnyvale and Santa Clara home values see
http://julianalee.com/santa-clara/santa-clara-statistics.htm
and
http://julianalee.com/sunnyvale/sunnyvale-statistics.htm
Condo values are at the lower half of each page.

If you want to see recent home sales visit
http://julianalee.com/santa-clara/santa-clara-home-sales.htm
and
http://julianalee.com/sunnyvale/sunnyvale-home-sales.htm

Again, call me and we can chat or come to my home buyer seminar:
http://julianalee.com/buyer-seminar.htm

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
.
Web Reference: http://julianalee.com
0 votes Thank Flag Link Wed Sep 25, 2013
Good timing. Interest rates just dropped a few days ago. You never know how long they will stay low in the short term.

Instead of shopping by zip codes, you should shop by elementary school that the property belongs to. That's what I usually do for my buyers.
0 votes Thank Flag Link Wed Sep 25, 2013
I'm liking this market. Interest rates are low and it feels like the vase amount of investors have pulled back.

I subscribe to a program which will pull listings based on school API. If you are interested drop me a note or call me to discuss the parameters. We could also go into more details of the market and trends if you desire.
0 votes Thank Flag Link Wed Sep 25, 2013
This is a great time to buy Webmihir.

It all depends on which middle school you are looking for. Take a look at the 4 elementary schools that feed into each middle school. http://sunnyvaleschool.ca.schoolwebpages.com/education/compo…

For API scores on Sunnyvale schools go here http://bayareaconnect.com/sunnyvale-school-district-schools/. Santa Clara school scores are all very similar so it does not matter as much where you live if you are thinking Santa Clara. Their school scores are here http://bayareaconnect.com/santa-clara-unified-school-distric…

Take a look at my market reports for how the housing market is doing http://bayareaconnect.com/category/weekly-market-reports-for…

Call or email with any questions, thank you.
Web Reference: http://BayAreaConnect.com
0 votes Thank Flag Link Wed Sep 25, 2013
Hi Webmihir,
Stocklmeir Elementary is in the CUPERTINO school district. It's one of the top ranking elementary schools even among the highly ranked Cupertino Union School District.
Flag Wed Sep 25, 2013
Hi Thomas, how come you don't list Louis E. Stocklmeir Elementary School in the Sunnnyvale school district link (http://bayareaconnect.com/sunnyvale-school-district-schools/)?
Flag Wed Sep 25, 2013
Thanks Thomas. Is $500-550k a reasonable price target for a 2bd/2ba condo in areas with good elementary AND middle schools? I am mostly looking at Sunnyvale, Santa Clara, Mountain View, and North San Jose area. Cupertino is fine too, but that area seem more expensive than the other 4 because of excellent school district and shrinking inventory.

Do you expect the prices to drop (I understand no one has a crystal ball.. just based on experience) or rise in line with inflation levels? The last few years have been crazy in terms of price appreciation, but I don't think it would be reasonable to expect that growth going forward.
Flag Wed Sep 25, 2013
Webmihir,
Yes this is a good time to buy. Rates are unlikely to be this low next year as they have just dropped after going up. While in most areas of the county an increase in rates would mean a decrease in home values, but that does not always happen here as there are so many people looking for homes, and a lot of purchases are made with cash.

In Santa Clara 95050 and 95054 there are some excellent high scoring schools. Not all of them in this zip code so you have to look at on a case by case basis.

If you go further south into Cambrian you can also find some great elementary schools. Look in 95024.

Another good place would be Campbell Moreland schools at 95008.

There are some great options available right now.

Good luck on your home search. Let me know if I can answer any other questions for you.

Marcy Moyer
Keller Williams Realty
marcy@marcymoyer.com
BRE 01191194
650-619-9285
Web Reference: http://www.marcymoyer.com
0 votes Thank Flag Link Wed Sep 25, 2013
To answer you question about the interest rates, now is absolutely the best time to buy. Interest rates have dropped substantially since their high prior to the Fed Policy Meeting. So, you have to get your rate locked in here pretty soon before the next Fed Policy Meeting and more speculation about tapering increases the rates.

Have you been pre-approved for a purchase loan?

Alex Greer
Loan Officer
NMLS #1056079 http://www.TheMortgageOutlet.com

408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Wed Sep 25, 2013
Definitely give me a call. We have a very exclusive 80/10 product with no mortgage insurance. This means you only need 10% down.
Flag Thu Sep 26, 2013
Thanks Alex. I am working with a Mortgage Advisor to get pre-approved and also get help on how much $$ house I can afford given my savings goals. Based on some preliminary number, we thin that $500-550k will be a good range. I have an excellent credit history (780+ FICO), and will be able to make a 20% down payment for the condo.
Flag Wed Sep 25, 2013
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