Dagi:

As you know, buying a home is a VERY subjective experience. I deal with buyers who purchase resale homes along side those who will only settle for a brand new home. There are obvious pros and cons to both.

You will typically get more “bang-for-your-buck” in the resale market. There you are dealing with home owners and banks – many of whom are currently highly motivated to sell. On the other side of the coin, there’s nothing like the “new-home” aroma that greets you when you walk through the front door. There’s also the feeling that comes from knowing, “No one has lived here before me!” And the chances of anything breaking down are very small indeed. Park Lane has worked hard to develop what they call, “a village ambience.” It is a very attractive community with great prospects for the future. It’s on its way to becoming a jewel in Irvington’s crown.

The question is this: “Which do you want?” Resale or new?

Park Lane’s builder, Regis homes, is a capable builder and the quality of the homes is good. Architecturally, it is a very aesthetically pleasing community. I’ve found that one of the best ways to determine if I want to live in a specific neighborhood or development is how I feel when I am there. I’m sure you’ve visited – probably more than once. Spend some more time there at different times of the day. Then drive up and down streets in Fremont that have resale homes in the same price range. Get out and walk around there as well. Talk to neighbors. Check out the crime stats. How far is to the venues that you like? Are you close to friends? And so on.

Park Lane comes with an HOA fee; most resale single family homes do not. However, all new PUDs now typically have HOA fees of some kind, even if they are detached homes. HOA fees are not a bad thing – they are usually proactive in covering the ongoing operational, maintenance, some landscaping and insurance costs of a development. They get discounts on these items because of the economies of scale. And you don’t have to worry about saving money for a new roof, etc. And even though you cannot deduct them form your taxes, just try getting Uncle Sam to pay for routine maintenance and mowing the lawn of your resale single family home!

A question hidden behind yours is probably this: is it a good time to buy in a development like this? Some have purchased new homes and then been dismayed because the values have decreased, Guess what? It’s the same in the resale market as well!! The answer revolves around why you are looking to buy now, and that issue includes many sub-questions that only you can answer.

I’d be happy to meet with you, show the current market trends and projections, and then, armed with more information, let you make the choices that fit you! Contact me at carl@carlmedford.com.

Hi Dagi, I would suggest that you investigate the available detached single-family homes in the area. These provide a better long-term investment (and avoids a non-deductible HOA fee). Click below for a Fremont Market Analysis:
http://docs.steven-anthony.com/fremont_detached_5_08.pdf

Best Regards,

Steven A. Ornellas, GRI, ABR, e-PRO, CMPS, RE Masters, MBA
REALTOR® / Mortgage Banker-Broker / Certified Mortgage Planning Specialist

Steven Anthony Real Estate & Financial Services
Expect Excellence. Get What You Expect.™
Cell: 510.461.6011
http://www.Steven-Anthony.com SteveO@Steven-Anthony.com

Hello Dagi,

If I had to purchase a home in this market, I would buy a home in that community. Of course my decision would be based on the following factors.
1. If I have children of the school age
• I would compare the schools with other similar priced homes in Fremont
• I would compare the school ratings
• I would see if there is spot/space available for my child if he/she is going to school this
September 2008
2. What city do I work in? Is it close to my work or freway or bart access?
3. Do I like yard space or am I okay with small patio?
4. Do I like a view home or any ranch style older home is something me
and my family can work with
5. I would like to calculate the difference of the HOA v/s SFR

Many other factors can be taken into consideration before a final decision

If you are interested in discussing more please feel free to call me
at 510-381-2105 or e-mail me at CharoBhatt@gmail.com

I have sold homes in Fremont for over 17 years, have a Broker’s license
I would be happy to meet at my office and talk to you at no obligation.

Good luck to you
Charo Bhatt

do you have kids that you might want them in a certain school district. It always depends on what your needs are...let me know what factors you are looking for to better give you the pros and cons of the area...