Berryessa and Milpitas demographics are similar in many ways. Your acurate comment re values is the result of a much higher number of Short Sale/Foreclosue problems up there
than in the rest of Santa Clara County. This would apply equally to most of the East side of the County.
In my opinion these areas have got further to go down while the rest of the County have already bottomed out.
You might want to check out The McCormack Guide for Santa Clara County http://www.mccormacks.com/books/s_clara.html for comparisons between Neiborhoods. You can also buy copies of their books.
I'm looking at North Valley homes around the Berryessa areas as well as North San Jose between Santa Clara and Milpitas. They seem to be more suited for professionals.
I have a question. Berryessa seems to be depreciating in value more so than Santa Clara but not as much as Milpitas, what gives?
You have obviously done your homework on the loan. In order to get more relevant info on locations I suggest you provide commute info to round out your preferences. One area which I would highly recommend for quality would be the River Oaks community off Montague Expressway. Both the Camille Circle and Galleria Drive Townhouses have excellent 2 bed, 2 and a half bath models.
There are several great options near Santana Row. There is a new development by Summerhill and a new one by KB Homes within 10 minutes of Santana Row that very well may fit your price range. There is also Midtown plaza that is in the same area and is 4 years new.
There are also Rosewood Towns in West San Jose. There are numerous new developments. My advice is to shop around. Most new developments want an agent to register a client. If you go in on your own, they will assign you one of their representatives. With so much to choose from, it may be good to have someone working specifically for you. That way you can compare amenities, any promotions, and developer's history.
You are being reasonable as far as pricing and expectations. You don't necessarily have many choices but have good choices.
One community that I would suggest you which offers all the convenience of shoppings and convenience and freeway access points is a new community developed nearby Santana Row and Campbell.
Nothing to hide, I will give you the official website for this compelx that will give you more info. Obviously this is linked to sales office for the builders on these projects, but I would be honored to represent you as a buyer agent or even find you more communities. Let me know if this type of neighborhood would be of desire to you and your spouse or not. Here is their website:
The builders are now offering no association fee for one year; No Closing costs; Buy down rates and many more.
There is some beautiful townhouses and single family homes in and around Communications Hills. Most are no more than 15 years old and beautifully built with great views, easy access to freeways, and is a nice community. I just sold a townhouse in Lancaster Gate. It was 8 years old, a 2 bedroom 2 and a half baths, 1,104 sq ft for a sale price of $461,000. She was very happy with the location and the community.
If you are looking for accurate crime statistics you can check out http://www.crimereports.com and http://www.areaconnect.com/crime. The zip code is 95136.
If you need any help or information for this area or others, please feel free to e-mail me at firstname.lastname@example.org
Bill - What I'm looking for is not a jumbo conforming loan and I'm on my way to get pre-approved by a lender. I'm borrowing 417k. I am not looking for a mcMansion. However my requirements are a little on the tough side due to wanting a newer home.
Essentially what I'm looking for is a good neighborhood and what I am considering are: traffic issues, low crime late, close proximity to commuting highways, convenience of supermarkets, good neighborhood demographics. My husband and I have no children, so I am not concerned about schools and I am already aware of the good schools around the area because of my friends but don't need to be in extreme close proximity to schools. What I am mostly concerned with is community. I want to be in a good place and it has to be comfortable, safe and desirable in the long run without the side effects of the club scenes of SJ downtown or the noise of high schools.
Hope this helps. Let me know if I need to provide more details.
Checkout my recent blog entry on this topic http://mccordrealtyservices.com/2008/06/08/fha-the-new-mortg Finding the home is the simple part. Finding the best loan requires a little more effort.
Good luck, Bill
I really think you can find a really decent Townhome in your price range. I dont know about a home though as it might be tough finding one built after 1980 in your price range, but it is do-able. I would need to know if being close to work is important and where work is, schools are they important? also bed/baths how many and how about lot size and square footage. E-mail me with your needs and info and I will set up a search for you in the areas we work out . One search for Townhomes and one search for Single family homes that way you can compare, also the search will automatically update you when new listing or price changes occur.
Look forward to hearing from you,