Home Buying in 94568>Question Details

Aditi, Home Buyer in San Ramon, CA

My max budget is 350k what I should choose Livermore, Dublin or 40-50 year older home in SanRamon.Nothing in Pleasanton also?

Asked by Aditi, San Ramon, CA Wed Nov 6, 2013

Why Dublin is not preferred?Should I wait?Rates will go down?

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12
Aditi,

One other comment on waiting --- and I can't say if it's a good idea for you or not. However, in January of 2014, many of the Dodd-Frank provisions will go into effect, especially "QM" or qualified mortgage. While this was intended to protect the consumer, most of the real estate industry believes it will further restrict qualification and choice for buyers.

If you do opt to wait, please discuss this with a loan professional now, and understand what your options will be later.

Best of luck,

Rob Spinosa
rspinosa@rpm-mtg.com
2 votes Thank Flag Link Thu Nov 7, 2013
ADiti,
U must sacrifice if u want to keep your budget. U can get a nice home in Tracy, but u will sacrifice 580 traffic. U can get a nice home in San leandro but it may be a rough neighborhood. Or u can get a Condo in Dublin. U pick prices not going in the toilet.
2 votes Thank Flag Link Thu Nov 7, 2013
Mortgage interest rates in the 4% range were unheard of before 2010, and first time the rates came in the 5% range was 2003. All we know now is that we have the historically lowest interest rates and if you are a buyer you should take advantage of it. Predictions are that the rates and house prices in our area will go slowly up next year since the inventory of available properties is very low, but no one knows for sure.

Dublin, San Ramon, Pleasanton and Livermore are all great cities. The best way to decide where to buy is to meet with a buyers agent and go on a tour to see what is available in your price range.

Let me know if you would like to meet for a no obligation buyers consultation or you can stop by to see me at my open house in West Dublin.

You can call or text me on 925.212.7226
Web Reference: http://www.vaniahomes.com
2 votes Thank Flag Link Thu Nov 7, 2013
Aditi:

You ask a number of questions – here are the answers:

Q: My max budget is 350k what I should choose Livermore, Dublin or 40-50 year older home in San Ramon.
A: First of all, your budget is going to be the major factor in determining where you end up. As you probably know, there are no single family homes available in Pleasanton, Livermore, Dublin or San Ramon under $350,000. The vast majority of homes are condos and only a couple are town houses. The answer here is going to depend on you – are you going to be content with the type of home you can buy in San Ramon or Pleasanton for under $350,000? In reality, you will get the most for your money in Livermore and then Dublin.

Q: Nothing in Pleasanton also?
A: Pleasanton currently only has 2 properties on the market under $350,000 – both are small condos.

Q: Why Dublin is not preferred?
A: My question to you would be “Not preferred by whom?” Dublin is a wonderful town and those that live there like it very much. The school scores may not be as high as San Ramon or Pleasanton, but that is going to change soon – all of the new homes being built in Dublin are significantly increasing the tax base meaning that a lot more money is now flowing to the schools. In addition, the influx of so many new, young families into the new homes is dramatically changing the demographics in Dublin which will also impact the school scores in a positive way.

Any answer we give here in this forum is going to be based on our personal preference and the past history of any given neighborhood. You don't want OUR personal preferences - you need to focus on YOUR personal preferences. We can give you past data to let you know which neighborhood has performed the best in the past, but that is absolutely no guarantee of where they will go in the future. All of the new construction in Dublin has brought more revenue into the city allowing them to put some systemic upgrades in place. The influx of funds should also help school scores increase. Bottom line - Dublin's future may be far brighter than its past, which could in turn propel property values to increase at a higher rate than surrounding cities. Or not. No one knows.

Q: Should I wait?
A: Wait for what? While price increases may be slowing down, which is good, they are still going up and will probably continue to do so for this next year. I don’t think we are going to continue to see double-digit increases each month as we have the past 20 months, but it is projected to continue upward. If you keep waiting, you may get priced out of the market altogether.

Q: Rates will go down?
A: No – rates are projected to go up.
.
2 votes Thank Flag Link Thu Nov 7, 2013
Thanks so much for detailed answer.
Flag Thu Nov 7, 2013
Hi Aditi,

I'm a homeowner in Dublin. My budget was around $300K and I bought a nice condo near Bart where I commute to the SF everyday... It is very convenient and has very low crime rate and good schools. In the next 2 years, I'll be looking to purchase a single-family home in Dublin. If you're looking to purchase home on your budget, Dublin is not the place. But if you're willing to purchase a condo now and wait a couple years for that house, you should be in a very good position to get exactly what you want. There are a few condos on the market now for under $300K, pocket that $50K plus and enjoy.

Best of luck to you.
1 vote Thank Flag Link Thu Nov 21, 2013
You should choose the house that you like the best given your budget. Doesn't matter about the city. The neighborhood is much more important then the city name.

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

408-352-5147
AGreer@TheMortgageOutlet.com
1 vote Thank Flag Link Thu Nov 7, 2013
Hi Aditi,

The prior answers below in conjunction with the following links should help you to reach a point of deciding where to look for a home:

Crime & Safety: http://www.crimereports.com
Once you enter a property address go to the "Advanced Search" tab to select what type of information is important to you. Next, choose the duration of time you want to look at under "Date Range" (now limited to a 6-month view).
You can also try these alternate crime reporting sites: http://tinyurl.com/a34pmyc

Schools: http://www.SchoolAndHousing.com
Based on property address, this site provides attendance area schools (Public, Private and Daycares) along with useful statistics and other information you should appreciate. They also have a cellphone mobile application, which is quite handy when you are viewing homes! Just access the website on your mobile phone to download the app. NOTE: Before making an offer on a property call the School District to CONFIRM the schools the property will feed to!


If you are a risk-averse individual I would caution you on waiting to act on a purchase, here's why:

"The Top 4 Challenges Buyers & Sellers will face in 2014! "
http://tinyurl.com/lg2n2v5

-Steve
1 vote Thank Flag Link Thu Nov 7, 2013
Hi Aditi

rate has been up since last week almost .25 % up.

Omar Khamisa
Mortgage Loan Manager
Omar@MSJMortgage.com
NMLS#: 369325
Cell: 510-648-5535
Web Reference: http://msjmortgage.com
1 vote Thank Flag Link Thu Nov 7, 2013
Hi Aditi,

It will be a stretch to find a single family home for $350,000 or below in Dublin, Pleasanton and San Ramon.

Competition is pretty fierce for this price range. As of today, there are a total of 7 properties listed in Dublin for under $350k and they're all condos. So is the case in San Ramon and Pleasanton. There is only 1 house for sale in Livermore and that is listed for $345k. This just came in the market yesterday. Here is the address: 542 N L ST. Let me know if you have any questions on this property and/or would like to view this home.
0 votes Thank Flag Link Wed Nov 20, 2013
Hi Aditi,

It will not be possible to find a Single Family home in Dublin, Pleasanton or Livermore under $350K.. Even condos and townhouses are tough to find in that range, however at this time there are 2 condos / townhouses available in Livermore so if you want me to show them to you, I would be happy to.

Dublin is a very desirable City. Where did you learn that Dublin is not preferred? I have sold many homes and condos in Dublin and my clients are very happy there. Dublin now has two BART stations, has great restaurants, is close to shopping malls and grocery stores and is close to major freeways like 580 and 680.

Interest rates are so low, I don't understand what you are waiting for? I don't see interest rates going down. Usually when interest rates go down, property prices go up since that brings more buyers into the market and that results in multiple offers.

Hope that helps. Good luck with your home search.

Meena Gujral
Achievers Realty
925-4258-9491
http://www.helpusellachievers.com
0 votes Thank Flag Link Thu Nov 14, 2013
Hi Aditi,

It will be a stretch to find a house in Dublin or Pleasanton in your range. However, there are several condos and town homes available in your price range. You can buy a condo now in a desirable location and when it appreciates in Value in a year or two you may sell that and buy a bigger house. You just have to have a great strategy in place to accomplish all your goals.
0 votes Thank Flag Link Tue Nov 12, 2013
Hi Aditi,

I think Livermore would be a good option. Email me if you need help with your search. Rebecca@calihomesforyou.com
0 votes Thank Flag Link Wed Nov 6, 2013
Thanks for answering, why not Dublin???My husband office is located near San Leandro. So going Livermore is increasing other 10 miles and on top of it, I have heard crime rate is more in Livermore and schools are not good.
Flag Thu Nov 7, 2013
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