Trulia San J…, Home Buyer in San Jose, CA

Are older homes more valuable than newer homes in the South Bay?

Asked by Trulia San Jose, San Jose, CA Thu Mar 28, 2013

Help the community by answering this question:

Answers

5
Ruth & Perry Mistry’s answer
Hi Trulia San Jose

Thanks for your question.
A lot depends on location, school, lot size, walk score, and size of the home.
If one was to take an on old Victorian on, say 5 th Street near downtown San Jose
Or City Hall on a 8000 Sf lot and compare it to another on a nearby street that was
either remodeled Or rebuilt, then of course the New Home.
Now of course you were to compare an older home in Santa Teresa or Blossom Valley,
To a newer home then,
We are seeing that the newer homes are selling for near $700k plus with smaller
Lots, compared to 50-60 year old homes with larger lots which are then selling for
About $550k to $650k.
Some newer homes sell, being "Green", and new materials, creating and generating value for the buyers. Also, new developments sell, a community, and amenities like a common, Pool, Club house,
Park, picnic area, or shopping, or a Lifestyle.

So in the South Bay, a lot depends on the the MLS Area, in the same Area we are seeing
Newer homes with same schools doing better, even though newer homes have smaller
Lots. hence, if comparing $ / square feet, then yes.

But in time, the land value of a lot is worth much as land appreciates but a home
Ages and depreciates.

Good luck.
Ruth
0 votes Thank Flag Link Sat Mar 30, 2013
BEST ANSWER
Value is in the hands of the key holder. Value is determined by location. It it is a solid refurbished Victorian in downtown Los Gatos vs a new construction in downtown San Jose, I'd say the older Victorian.

It all comes down to Location, Location, Location.
Web Reference: http://www.terrivellios.com
0 votes Thank Flag Link Thu Mar 28, 2013
LOCATION LOCATION LOCATION...first rule of value to a property!
0 votes Thank Flag Link Thu May 2, 2013
I agree completely with other agents, it all boils down to location. And what do I mean by location? SCHOOLS and to secondary consideration is nearness to work.
Those are the only criteria a majority of my buyers are concerned with.
Hope that helps.
At your service,
Allyson
408-705-6578
allyson@homesbyallyson.com
Certified Distressed Property Expert
0 votes Thank Flag Link Fri Mar 29, 2013
Dear Trulia San Jose,

I really don't know who told you the older homes are more valuable than newer homes in South San Jose. However, I can tell you 3 words and be sure to use it for your future buy/sell real property. It is: "LOCATION, LOCATION and LOCATION".

That's your rule of thumb and I'm sure it's going to help you with your purchase in the future.

Sincerely,


Gabriel
0 votes Thank Flag Link Thu Mar 28, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer