Ws Homeowner

All great anwers. My sister is looking in the same area for the same type of home. Here are my observations.

1. Most of the other offers were all cash, 20% down or for more than asking price. In this era, if I were a seller I would look for the deal most likely to close and not chase a potential savings if it meant wating another 2-3 months for the deal to close only to have it rejected by loan problems. I think the fastest close is what a seller is looking for.

2. Short sales are sooooooooooooooooooo hard to close since more parties (and beaurocracy) are invlolved.

I like the other folk's advice of staying away from short sale and increase your asking price to counteract the perceived negative that FHA loans give to those reviewing your offer. Keep with it and the house that was meant to be wil be yours! - Sun Nov 16 2008, 08:54

Please see previous 'threads' from buyers looking into this area. Here a few things for your to consider.

1. You will likely not get into the local elementary schools at first, so be aware of were your kids will REALLY go to school until you clear the waiting list
2. The train passes by on a regular basis and they HAVE to blow their horn
3. You are closer to the Milpitas garbage smell, although if you are in Milpitas that should be an improvement
4. Closer to the freeway there was going to be a large indoor racing facility with a bar and restaurant. That threat went away but they do plan to build a major shopping center along 880, so do your homework.
5. We love it here (Warm Springs Blvd and Gable). Quiet, caring neighbors and lots of afterschool options. - Sat Nov 15 2008, 07:35

I am a homeowner in the Warm Springs area so I may be biased but the reason I bought a home in this area was that I could not afford a decent home in Mission San Jose. The main reason I did not purchase a home in Ardenwood or niles was three fold 1) The schools were significantly better in terms of middle and high school 2) The Warm Springs area seemed more established and farther away from the not as nice areas of Fremont 3)The prices/value ratio was better in Warm Springs.

As stated before, look to see the foreclosures in this area, try to find a house on the market there are very few. If no one is selling or has to sell then there is very little downward pressure on prices. Crossing my fingers that it stays that way, but nothing in life is guaranteed. If you see a lot of layoffs in biotech or tec h things might change. But for now prices are holding and have held. You have to layout the equation for yourself. - Sat Nov 15 2008, 07:17

I think some of the agent response is responsible in that nobody know and it depends upon your goals and circumstances. It does help to be in a good school district even if you don't have kids. Although crazy expensive, the mission district (excluding the Gomes redistrict risk area) and to some extent the Warm Springs area are not seeing huge price declines. Look at the foreclosure tool on sfgage.com and you can see a vast difference between fremont and oakland and if you dive further down you can see a difference in foreclosure activity between different zip codes within Fremont. This would provide a cushion, but not a guarantee.

For example, I sold my home in El Sobrante (crappy schools) in 2005 for $450000. It is now worth $300,000. I bought my home in Warm Springs for $720,000 and while off its highs, is still in the $730,000 through $750,000 range. Schools make a big difference. While this is anecdotal and only one person's experience, it might help you in your decision - Sat Oct 11 2008, 08:07

I have lived in Warm Springs for about three years near gable drive. I can smell the garbage smell about 3-4 days of the year. It seems to be getting better, but since your target property is farther south, you might smell it more. If you go to Mcarthy shopping center off of 237 you can smell it many more days and more foul. Not really a big deal, but ask more aound you neighborhood. - Sat Oct 4 2008, 08:51