A house in a similar location in a different Fremont (non-Mission) neighborhood will be worth less due to the different schools.
In a buyersâ€™ market, the same house will not sell as quickly as a house away from the tracks.
â€œ...is it advisable to wait now?â€ In my opinion, the longer you wait in this market, the more you will pay for any given house. Havenâ€™t you noticed that prices are going up?
As far as future price concern, it won't make much difference and more home will come in the market in summer but I wouldn't wait for it. If you like the home and price, go for it. Good Luck!!!
When a home is located near something "different" such as railroad tracks, near a freeway, next to a school or shopping center, there can be some potential impact on the home's market value. However, this home's list price may have already taken that into consideration. If you like the home, then make an offer.
In an average year, yes, inventory would increase in the summer months before dropping off again in the late fall. However, this has not been an average year so far. Many communities, in many price points, are continuing to see low inventories. In the 680 corridor of the east bay, we have seen a few more homes come on the market each week for the last 2-3 weeks. Is this a new trend? Will it continue? Will all those buyers who have given up the last few months return, and therefore, negate the increasing inventory? These are all good questions. Answers will be available at the end of the summer!
You might want to think about how long you will be living in this home. Is it strictly an investment or is it a long term home where you will generate memories for friends and family?
All my best in your search for a home!
"Any advise on the price?" & "Will it impact the future price for the house?"
I believe you will find the attraction of the Gomes/Hopkins/Mission school combo mitigates the potential issue of BART related noise (I believe the BART track would be ~250' from the home, not sure if there will be a sound wall constructed, but would be a good idea to find out).
"Also are you guys expecting more inventory in the summer time? That means, is it advisable to wait now?"
As Brian commented, as we get closer to summer there will be more listings - and more Buyers; I would act now before you have more competition and ahead of any possible increases in mortgage rates.
More inventory? We are seeing more home coming on the market over the past few days and weeks, however, we really don't know. It is normal to see more inventory as we get closer to summer.
Why wait, if you see the right house - make an offer. If you don't see the right house - keep looking. It's a great time to buy now and in the future.