Home Buying in Sunnyvale>Question Details

Kkulkarn, Home Buyer in Sunnyvale, CA

Frank appraisal of KB Homes Evelyn Glen Sunnyvale CA? Is it worth buying?

Asked by Kkulkarn, Sunnyvale, CA Thu Jan 28, 2010

I was thinking of buying the evelyn glen plan 1 for $520, is it worth the price? Also if I were to resell after 2-3 years for a better school district what are the otpions.

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5
Hello Kkulkarn:

You want a "frank appraisal" of KB's product? Okay, here goes...

As a former owner of a KB Home, I have to say, I'm not sold on KB or their product. My husband and I owned a KB Home townhome-style condominium and it was problematic at best. Fit and finish was pretty spotty, and our community was involved in a lawsuit with the builder over developer defects. I've looked at Eveyln Glen too, and to be frank, I don't feel that the price is worth it for the location. There are plenty of other homes in more centrally located areas that may be older, but are built more sturdily. And I personally do not believe that Sunnyvale's downtown will add anything to the value of this home--I speak as a life long resident of Sunnyvale and witness to three (3) attempts to revitalize the downtown region.

Personally, I would use this money to find a great "house" (detached single family) in an area of Santa Clara that has the potential for faster recovery if the time window in which you're considering is only 2-3 years long. You may find that, unlike real estate of the past where new homes increased in value quicker than would older homes, the new condominium may be 'topped out" in pricing now, so that 2-3 years from now it will not be worth enough to warrant moving without incurring a loss.

Sorry, I know that my post sounds like "sour grapes", but this is solely my personal opinion. Speak to neighbors in the community to determine how satisfied or not they are with their new KB Homes. Hopefully, the developer will have substantially increased the quality of their homes today!

Good luck!

Sincerely,
Grace Morioka
Area Pro Realty
Tel (408) 426-1616
1 vote Thank Flag Link Fri Feb 19, 2010
Hi Kkulkarn,
Some options for better school districts for your next step up are (in no particular order):

1. Sunnyvale Stocklmeir (Ortega Park neighborhood)
2. Santa Clara Eisenhower (e.g. Maywood or Westwood Oaks neighborhoods)
3. Cupertino Eaton Elementary / Lawson Middle / Cupertino High
4. Sunnyvale Cherry Chase
5. Sunnyvale West Valley

--Robert
0 votes Thank Flag Link Tue Apr 6, 2010
I love Evelyn Glen! KB builds good homes, and my clients who have bought in this complex, as well as others are very happy. the low 5's for a townhome near downtown Sunnyvale is a good buy. However, in general it is risky to purchase with the idea of staying only 2-3 years. The cost of sale is going to run you about 6% with commissions , transfer taxes, and title and escrow. there are also costs to buying, unless you have negotiated your closing costs to be covered by the builder, so you probably want to give youself a little more cushion of time if you are going to buy there. Your other choice is to buy an older place in a different school district is the school district is more important than the newness of the complex.

Marcy Moyer
DRE 01191194
Web Reference: http://www.marcymoyer.com
0 votes Thank Flag Link Thu Jan 28, 2010
I would agree with Dave Rivas, if you look at this community long term, and what is available in the low 500k's I believe this to be a good buy in today's marketplace. If you look at demographics alone there is only one way for prices to go in the future, whether it is next year or five years from now in Sunnyvale, prices will go up. If you are looking for a short term purchase I would not expect much capital appreciation. Also keep in mind that when it comes to sell you will have selling costs to account for also. Remember that you are always in your property longer then you expect, so 2-3 years can be 5 right before your eyes. If you have anymore questions regarding Sunnyvale feel free to call or email our team anytime.

Warmest regards,

Eric Boyenga

BOYENGA TEAM
Top 1% Intero Real Estate
Silicon Valley Specialists
Office: 650.947.4645
JANELLE: 408.373.1660
ERIC: 408.506.3942
Fax: 408.516.5820
Email: Homes@Boyenga.com
Website: http://www.Boyenga.com
Website: http://www.MLStools.com
"Guaranteed Results through Teamwork"
0 votes Thank Flag Link Thu Jan 28, 2010
Kkulkarn;
Yes the home is worth the price and once the downtown is completed your value will hold better. The thought of selling in 2-3 years for a profit is probably not realistic. You should be looking at buying a home to stay in for 5+ years.
Good Luck
0 votes Thank Flag Link Thu Jan 28, 2010
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