Home Buying in Milpitas>Question Details

psam07, Home Buyer in Santa Clara, CA

Hi, we are looking for a townhome near south Milpitas, or rivermark area. I wanted to know if the new constructions near great mall are good.

Asked by psam07, Santa Clara, CA Sat Mar 15, 2014

we visited harmony, taylor Morrison's avenue and trumark homes. Our budget is around $630k.

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Answers

8
Hi There:
Couple of things.
Views expressed below are my personal views.
I am not an expert....nor a homeowner.
I am currently looking for a place to own, and went through the phase of whether i should buy a townhome or SFH.
Ultimately i decided on a SFH because i like the feel of a backyard.
Budget wise--- the SFH are not too far away from Townhome
I figured that instead of paying 300 HOA, i can pay the difference amount towards SFH.
($300 for HOA per month averages tot $50000 over a 30 year period).

So, here's my view:

1) For a townhome, stick below $600k.

2) 3-4 years down the line, these are not going to appreciate to 800k and above.

3) Its unlikely that ppl would want to pay more than 700k-800k for a townhome with high HOA($300).
>> Yes, things can change, but i dont see that as a feasible prospect.
>> I am not talking about cash investors ....but rather ppl with 20% down.

4) Also DR Horton harmony and Taylor Morrison Avenue have been rezoned to a lower API school:
http://www.trulia.com/voices/Home_Buying/DR_Horton_Harmony_a…

5) There will be a lot of townhome/condo surplus in Milpitas 4-5 years down the line.
>> There is a new construction project coming up at Great Mall which is expected to add another 300-500 units/townhome/single family homes at minimum.
>> Last checked there were some environmental issues because it was coming up at an old Battery disposal facility at Great Mall. But i am sure it will come in.

If you factor Harmony/Avenue/PACE(velocity/Momentun), Abel Street Condos/townhomes, Coyote Creek, Crescent village in Cisco area, North Park, EPIC apartments, New apartments coming at Cisco area @ Tasman/Zanker and upcoming projects....there a lot of competition for Rentals/Renting out your property due to Investment buyers.
>> Add to it, the shea aparments opposite Great Mall, the Avalon eaves close by, the other Misc Apartments close by....there's a lot of competition.

Owning a SFH will have a unique value vs Townhome.
Milpitas is an area where the SFH come for about the price of the Townhome/Condo at Avenue/Harmony e.t.c.

Hope it helps

Regards,
R.
2 votes Thank Flag Link Mon Mar 17, 2014
thanks everyone!
Flag Fri Mar 21, 2014
thanks for the in-depth analysis...appreciate it :)
Flag Wed Mar 19, 2014
Great analysis, Raghav.
Flag Mon Mar 17, 2014
I would be more than happy to help you. Harmony is probably the best of the three and has alot of interest. Just send me an email if you have any further questions.

Alex Greer
Loan Officer
NMLS #1056079

http://www.TheMortgageOutlet.com
408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Mon Mar 17, 2014
They are very good - new home builders in this area are very good overall, and their projects are monitored by local building departments every step of the way.
0 votes Thank Flag Link Sun Mar 16, 2014
Hi Psam07

There are a few TH's available within your budget. Email (rpablaza@comcast.net) or call (408-316-0793) if you are interested.

Thanks
0 votes Thank Flag Link Sun Mar 16, 2014
hi, a well know builder and nice homes...make sure you see this before you contact/visit any builder
http://americarealtyonline.com/RealtorWebPage?custompage_id=…

See "ACTIVE" listings for sale in real-time...

$$ BUYER COMMISSION REBATE 50-60% / SELLER DISCOUNT 50% $$
........good luck!

... http://americarealtyonline.com/
Flavio Tejada, Owner/Broker, Realtor, MBA-Finance
(415) 305-2958
0 votes Thank Flag Link Sat Mar 15, 2014
They are good for homeowners. I've just sold 4 homes in those communities. The Trumark homes are just being released on a limited basis. The waiting list is very long on the up-coming homes as there's a lot of factors going in favors of those communities, much of it being driven by the city of Milpitas.

If you're interested and want to secure a home quickly before prices go up another $40-70K, you should get assistance with an experienced Realtor who has dealt with these builders before attempting to approach them yourself.
Web Reference: http://www.archershomes.com
1 vote Thank Flag Link Sat Mar 15, 2014
I helped some buyers purchase with Taylor Morrison a year ago. The quality is on an entry level with some nice upgrades. It's a good product for those who are budget minded.

I've had the pleasure to show Trumark but don't know of anything negative about them.

If you have already registered with the Builder it would be a challenge to have a buyer agent help you. If you have not registered or are willing to pay a buyer's agent I'd be happy to sit down with you and discuss the various aspects of purchasing new construction.

All the best to you.
1 vote Thank Flag Link Sat Mar 15, 2014
Psam07,

You should talk to my best friend in real estate who lives in a townhouse in the same area. Vicky Le can help you make the right choice.

Let me know if I can connect you.

Mario Pinedo, CCIM
Real Estate Broker & Lender
Keller Williams & CS Financial
http://www.HomeLoans.LA
http://www.HouseLoansLosAngeles.com
http://www.CondoLoansLosAngeles.com
http://www.Facebook.com/SiliconValleyRealEstate
http://www.BayAreaInvestmentRealEstate.com
BRE Broker 01118365
NMLS 1029116
Cell 415-269-6249
mariopinedo@kw.com
Twitter @mariopinedo
Web Reference: http://www.HomeLoans.LA
0 votes Thank Flag Link Sat Mar 15, 2014
Mario Pinedo,…, Real Estate Pro in Beverly Hills, CA
MVP'08
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