There's a number of factors that are coming together to drive up future home prices at Pepper Lane in the next 5-7 years, so you'll be rewarded for your patience.
In terms of safety, I personally feel it's safe enough. But, as Monica suggested, you can check out crimereports.com to get a sense of your comfort level.
The rationale for the discount today is that the builders are selling a life-style. At the beginning of construction, your new home is in the middle of a construction zone, not that attractive. So, the builder gives you a discount. As the project is completed, the community is more livable and attractive to buyers. This drives up demand and prices.
I've just sold a unit in the complex in the last few weeks and prices are already up $10K. If you had put down 10% to purchase, that would have already yielded you a 20% return on your downpayment. If you have any other questions about how builders work and how to get a deal, please let me know.
I would say that's a safe area.
It's far north of east san jose, so that's good.
The houses that surround Pepper Lane are safe and quiet.
To check crime data, use:
Regarding resell value in the future, you'll be buying at $480,000 or so. With increasing unemployment, recession, devaluation of the US dollar, I don't see the value shooting up much.
I think you will want to drive the area and look through the crime reports site as many have mentioned. Go through the area at different times of the week and day to get a good sense if the daily life should you decide to move. I am surprised that not many buyers actually do this?
For new communities there is usually a lot of interest from buyers as every likes the idea of buying new. Right now as the market has suddenly become tighter than it has in the past so this will help the developer to raise his prices a bit. The Berryessa area has gone from 91 active SFH listings last year to just 48 this year.
Be sure that you do not go to the sales center without your realtor the first time.. (Supper Important) If you do not bringing your agent during your first visit to the complex your agent will receive no compensation for represent you during the negotiation and transaction with the developer. Strange but true. Keep in mind that a developer price is like any other sellers, negotiable...
Please check out couple of sites to like https://www.crimereports.com/ to see what kind of incidents are reported in that area. You can also drive by the neighborhood at different times of the day to ge a perception and feel for that area.
I would highly recommend you to meet with a Realtor like myself, who can provide you price comparables. See what the properties are selling for, there are many ways to assess the market and guage return on investment. Its always good to make an informed decision.
The Berryessa neighborhood is excellent. it is close to shopping, schools and has short easy access to the major freewys and expressways for the commute to work. the neighborhood is very safe. It is a good investment. There is a large amount of demand for property in the Berryessa Area. Resale value is very good in the Berryessa area.
Charles Butterfield MBA
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