Home Buying in Milpitas>Question Details

seamoss, Home Buyer in 94538

2bd/2ba Townhome in Fremont/Milpitas (has to be relatively new)

Asked by seamoss, 94538 Wed Feb 26, 2014

I am looking for a newer 2bd/2ba townhouse or condo in Fremont/Milpitas area. My budget is under 600k. Wondering if there's any new construction coming up in middle of summer. As far as I know, there are new THs coming up Ardenwood and new construction in Milpitas is pretty expensive. Any suggestion or pointers are welcome !

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Hi Sea and thanks for your post. First, there are several communities being built now in which your price range of $600,000 will fit for a home purchase--these are brand new homes, so in some cases, you may need to wait as much as 60 days while the property is constructed, but you will the first andn original owner of the home. Two communities that come immediately to mind are "Pace" and "Centered on Capitol" (both Trumark properties) with a price range of about $550-675,000 and these are now townhome styled condominiums. While both are in San Jose (Berryessa), they very close to the Milpitas border.

If you're considering homes for sale by their current owners, there are number of excellent prospects in both Fremont and Milpitas that will also fit your current budget, so while we are gearing up for a brisk sales season this year, I do think your budget should allow for a home purchase in your desired area. If you choose to purchase a home in a new homes development TAKE YOUR AGENT WITH YOU ON THE FIRST VISIT (sorry not yelling...they don't let us "bold face" anything). If you register with the sales office without your agent, you will not be allowed at a later date to bring an agent into the transaction. And, of course, to maximize your purchase, choose an agent (like me) who gives buyers rebates at close of escrow. This way, you can buy a home AND have a little money (up to 1/2 of the commission offered to the agent) to customize the home or to make repairs. Good luck!! Up to 50 percent commission rebate on qualified purchases to buyers.
1 vote Thank Flag Link Thu Feb 27, 2014
For $600K, you can get a new 2 bd/ 2 bath in Milpitas. Pricing is higher now than last year and going higher this summer as there's insufficient supply of quality homes available. If you're looking to buy this year, you should start the process now and work with a local Realtor who knows how to get a unit. Otherwise, you'll soon find yourself at the end of a very long waiting list with little chance of getting actually getting a unit before the community is sold out.
Web Reference: http://www.archershomes.com
1 vote Thank Flag Link Thu Feb 27, 2014
There is new construction in Milpitas. And may be around your budget.

I have worked for a new home builder so I understand the developers mind set.

First off if you have been to the community and registered already, the developer most likely isn't going to pay your buyer agent's commission.

The commission offered is built into marketing dollars so that really isn't a factor to them in their negotiation.

The reason to have your own agent is to have an advocate on YOUR side vs the sales agent who is all for the Developer. The new construction contract is very different than our resale purchase contract and you could end up giving up your earnest money and not even realize it.

Markets change and when it is a seller's market the developer is less likely to make deals. Be prepared to compete, if necessary. Who is going to negotiate for you? Your own agent? Or the agent who is responsible to get the highest return to the developer?

It is suggested you get your financing in order and select an agent up front before visiting the community. If you use the builders lender the builder may give you a credit. However, those fees may be built into the lender fees. Also, in brand-new construction what would be standard and typical closing cost paid by the seller is often passed on to you the buyer.

All the best to you.
1 vote Thank Flag Link Thu Feb 27, 2014
Thanks a lot for sharing your experience. Your reply helps!
Flag Thu Feb 27, 2014
If you are nog going to buy til the middle of summer, things could change,like interest rates and prices.
Please contact me so I can give you the information you need to make an intelligent dicission.
0 votes Thank Flag Link Thu Feb 27, 2014
Sounds like you do not have a real estate agent. I would be more than happy to recommend a few in your area. Email me if you need anything further.

Alex Greer
Loan Officer
NMLS #1056079

0 votes Thank Flag Link Thu Feb 27, 2014
HI Seamoss,

There are several newer condos and townhomes in Milpitas and Fremont that meet your search criteria. Call (408-316-0793 or email (rpablaza@comcast.net) and I can email you a list of avaialbe properties.

0 votes Thank Flag Link Thu Feb 27, 2014
Everything that your looking for is available. I suggest you secure financing immediately. Once we know you have secure financing then we can make a solid offer. timing is key.
0 votes Thank Flag Link Thu Feb 27, 2014
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