Home Buying in Sunnyvale>Question Details

Wing Lee, Both Buyer and Seller in Sunnyvale, CA

Is it a good time to buy into Sunnyvale 94087?

Asked by Wing Lee, Sunnyvale, CA Wed Aug 29, 2007

I'm looking for good schools: Cherry Chase/Cumberland; Sunnyvale Middle; Homestead High. Is it a good time to buy? A 1400Sqft home in cherry chase area is still asking over $900K. I also like the larger homes by Cumberland. Should I wait? I'm afraid I can't find what I like.

Help the community by answering this question:


The big picture is this - the tech companies are doing very well working on web 2.0 and biotech doing their thing. This valley is very strong. Employers are hiring and when they hire an engineer or other well-skilled employee, they pay very good salaries. There is bad news about the housing market although that is national news. Our office is fielding many offers on the Sunnyvale/Cupertino listings that we have. That trend will continue. When the national news subsides - perhaps by next spring - the true strength of the valley will become apparent to everyone. At that point - the relative opportunity that exists right now will fade. Yes, Sunnyvale is expensive. My suggestion is that it will get more so next year.
1 vote Thank Flag Link Wed Aug 29, 2007
Mario Pinedo,…, Real Estate Pro in Cupertino, CA
Many people have similar questions. When you find the right house at a price and mortgage payments that work, many go for it because they don't know if they can find a property just like that again. Homes aren't like cars where you can find the same exact model all the time. So whether it is today or 6 months from now, people go for their dream home when they find it. If it just for investing, that is different because it is more numbers than emotions of living in it.
Web Reference: http://www.realpayam.com
1 vote Thank Flag Link Wed Aug 29, 2007

Location will always be a top driver in your decision to buy a home. You will benefit from having made the decision to focus in this specific area. Sunnyvale is a great market and the homes in the Cherry Chase/Cumberland area have done a nice job holding their value, while many other areas have suffered.

Waiting to buy..... To answer this question accurately, more information is needed about your current position. To answer this question in a general manner: Waiting for the sake of waiting, is a high risk gamble. There are many solid reasons to be actively searching and buying right now.

If you would like to discuss your options, and my reasons to be in the market right now, please feel free to reach out to me. I would enjoy sharing this information with you.

Mark S. Alicaya
408-342-3054, office
0 votes Thank Flag Link Wed Dec 15, 2010
Hi Wing

Yes the market is doing very well in Sunnyvale.

Prices around Cherry Chase do well, and hardly show a down turn. You can hardly negotiate the price around there.

Over all Sunnyvale has been soft but the area South of Evelyn closer to down town has just done very well.


Good luck.
0 votes Thank Flag Link Sat Oct 16, 2010
You are wrong to lump all real estate agents and offices together.

Back in early/mid 2007 my broker told all our agents that the bubble was about to burst and we should warn all of our clients that the rapid rise was artificially being sustained by shady loan products. I had a buyer looking in the Cherry Chase area in 2008 and I told him he could take his time because the shakedown wasn't complete. I showed him almost every home in Cherry Chase in his price range in 2009 and even though I thought the price was already good, I didn't push him to buy. Finally, he bought in early 2010 and it was his decision not mine.
0 votes Thank Flag Link Mon Sep 13, 2010
2 years back, median SFR in 94087 sold for like $900k, right? and median SFR in 94089 may be for $600k?
today median SFR in 94089 may be selling for $350k. Why should not median SFR in 94087 sell for 550k today? is there a fundamental reason?
low end has corrected, mid/high end must too. it will take time, but i'm betting my money on it.
high inventory, low sales, low nasdaq => lower prices.
0 votes Thank Flag Link Sun Mar 29, 2009
Wing Lee
Home values are still going to go down in many places, however the 94087 zip code is the most solid zip code to buy in Sunnyvale. Great schools, great police, great area, close to everything, great weather just a great place to live. That is why when they are saying property in Santa Clara County has droped up ot 40% it has but not in this 94087 zip code they may have lost 10-15%. This is not going to hold, we see prices in this area stabalizing and still holding strong. So if you want to by a home for 800-900k in this area you should do it now because they will be the first area to bouch back up. That home for 8 or 900k now was 1.1 million and will be again within a few years. So get in now when you can. Don't stand around and be like all the other fools saying I knew I should have bought in 94087 in 2009. Wait until the prices come down more and you will miss out completely. In that zip code 94087.
I was born and raised, still work and live right here in Sunnyvale. 53 years I have seen the trends and this is a solid zip code. If I can be of any help, please call me with out any obligation.
David Rivas
(408) 431-7202
email; ultimaterequest@sbcglobal.net
websites; http://www.UltimateHomeRequest.com
Sign up for free email alerts on the home you want.
0 votes Thank Flag Link Sun Mar 29, 2009
Notice that only the real estate pros are advocating buying. Now ask yourself why are they motivated? Are they concerned that they give you the best advice? (After all they informed everyone in 2007/2008 it is the best time to buy!)

0 votes Thank Flag Link Sat Mar 14, 2009
Good school areas are always desirable. Active months are from March thru August every year.
While many people are having 2nd thoughts, if you have the means and feel your job is secure, this is a good time to think serously. A house attractive and priced right gets an offer quickly. An ugly dog will just have to wait awhile for someone to adopt it. You will be surpised to find the rewards are high.
0 votes Thank Flag Link Mon Mar 9, 2009
Wait! Jobs are going down in Silicon Valley and elsewhere - trust me, we have alot of business school friends both in finance, consulting, etc - getting laid off left and right - and these are the people who had the purchasing power to buy. And now these people will be my competitors if I move and look for a job! tough market regardless of your degree.
Why buy something you don't LOVE?
We are waiting it out - people can affected by the headlines - more job losses, higher income taxes, etc - I would want to hold onto my cash.
0 votes Thank Flag Link Mon Mar 9, 2009
Dear Wing Lee,
The interest rates are low, and school packets are available now. If you want to move your children for this coming year, you want to get into your new address right away. If not, you may not get into Cherry Chase or Cumberland even with the right address if you wait until summer. So, there is urgency if you want good schools for the 2009-2010 school year.

I may have a listing falling out of escrow in 94087, if you want the inside scoop on it (Cherry Chase) please send an e-mail. I also have information on another home that is not on the market in Cherry Chase yet, but sellers want to sell.

You can get into Cherry Chase now in the $800Ks for the smaller homes unless it is nicely remodeled, I think the prices have become more and more reasonable with a dozen price reductions in the last month. Maybe you have seen this? There is some softening right now in this good school market.

If you can find something you like, I would say it is a great time to buy. There are also some sellers who are waiting and wondering, who want to sell but may not have listed their home. If you can narrow your neighborhoods, work with a pro-active agent who can communicate your wish to purchase a home. This may even move a homeowner to decide to sell -- if he or she knows a buyer is available. With so much inventory, some sellers are not sure they should list their home (and rightly so).

Good luck! I wrote a short column today in the San Jose Mercury News about the relevance of school packets being available and why changing homes now in desirable areas makes sense in comparison to June, July, August. Schools are often closed in July, and by August many elementaries have waiting lists.


Erica M Nelson
0 votes Thank Flag Link Sat Mar 7, 2009
The answer to your question is finding the home you just really have to have. If you buy into a property and plan to move up from there it may not be the best time, but if you find that perfect home, by the time the Real Estate market goes thru it's cycle (asit always does), the value will continue to climb. And of course you need to be able to afford the property, don't cut your self short to live in a neighborhood or school district
Good Luck
Hope this helps
Denise Stuart
Coldwell Banker
The Real Estate People
0 votes Thank Flag Link Thu Aug 30, 2007
Trying to "guess " the best time to buy rarely works.. because it's just that a guess. You buy a home when you need to buy..If you have 5 children and are living in a 2 bedroom and your Mother calls to say she is moving in..it's definitely time to buy a new home. My best advice is to buy a home you can afford.. it may not be your dream home but if it is within your budget and if you plan to stay for at least 5 years you will be fine... even if the market moves a little..... Homes in good school districts usually hold their value as do homes in areas with a good economy and a number of jobs.
PS.. If a home has been on the market over 30 days.. there may be room for negotiation.. so negotiate..Good Luck
0 votes Thank Flag Link Wed Aug 29, 2007
Kaye Thomas, Real Estate Pro in Manhattan Beach, CA
This is a great time for someone in your position-although areas with the best schools remain competitive, be on the lookout. If something you like hasn't sold after 2 weeks, consult with your agent, have your agent consult with the listing agent and try making the offer you want. Just keep in mind, what goes around, comes around.
0 votes Thank Flag Link Wed Aug 29, 2007
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