Home Buying in Milpitas>Question Details

Mary, Home Buyer in Milpitas, CA

Sundrop Circle, Milpitas: The homes are currently priced in the 750k range. Is this home a good investment? Do you expect any appreciation potential?

Asked by Mary, Milpitas, CA Tue Jun 12, 2012

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Tina Lam’s answer
Mary,
At the first release, the Sundrop Circle homes were priced from $720K-800K. Comparing them to existing homes on a square footage and quality basis around Milpitas, these homes are a bargain. In order to bring a comparable home in Milpitas to the same quality, you'd have to pay 20% more, before factoring in the difference in lot sizes. Since the builder is incentivizing all the early buyers, a standard practice, you'll be able to capture about a 10% gain as the homes get priced closer to full market value near the completion of the project.

The housing market in Milpitas has been relatively stable since there's strong tech employment nearby and underrated schools. So, here's strong support for long-term appreciation as local incomes continue to grow and the growing reputation of the schools attract more buyers.

And, you don't have to just take my word for it. Plenty of buyers have done their homework and came to that conclusion. At the first release, almost all the units were sold in the first 2 days. I sold one myself to a happy couple. I anticipate the next release will see prices go up by $20-30K, so there's an advantage to buying early.
Web Reference: http://www.archershomes.com
2 votes Thank Flag Link Wed Jun 13, 2012
Dear Mary, Homes in Milpitas are in high demand. Buying a home in Milpitas is always a good investment as long as you have a real estate expert to help you through the process. The homes in Sundrop Circle are very nice homes. The price would depend on the square footage and what amenities the home has to offer. Prices in Milpitas have increased in the past six months and I don't see any indications to demonstrate that the values are going down. I live and work here in Milpitas and have successfully been in business since 1994. Please feel free to contact me with any questions you may have. Best Regards, Becky Strauss, bastrauss@comcast.net
Web Reference: http://beckystrauss.com
1 vote Thank Flag Link Tue Jun 12, 2012
Thanks, Becky. The homes are at least 2155 square feet. Do you think this would be a good investment?
Flag Tue Jun 12, 2012
The Builder is known for building a quality product. Many items are standard vs upgrades.

This is looking to be a great community and do expect that it will sell quickly. They have put in a nice park area for residence and children. It is near a Kaiser Facility and easy access to freeway.

The variety of floor plans offer a lot of space. Although many people may be put off by the amount of stairs, they have incorporated a lot of living space on each level. I particularly like the floor plan with a main level bedroom and the upper loft.

I've seen Milpitas continue to appreciate in this market. Given all factors being equal it should stay on par with the market for the given time.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Fri Jul 27, 2012
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