Mary W

I use to work in the high-tech industry and can tell you the companies/jobs can be in San Jose area to San Mateo to San Francisco. So most people prefer to live in the middle. But it depends on what line of work you do and where those companies are. And how much you like driving in traffic. :) If you're aiming for the Silicon Valley area, there's lots of communities to choose from. It's difficult for me to recommend places though without knowing anything about you. - Thu Jun 19 2008, 12:01

I've seen the Wild Orchid homes and they are very nice. But they don't have much of a yard. You just have to realize the kind of things will affect the resale value and marketability of the home in the future. The value will hold as long as there's demand and people who can afford those homes. The downtown area is quite popular because of close proximity to restaurants and is a good choice. - Thu Jun 19 2008, 11:39

Hi Luis,
I do mortgages so here's what I would estimate closing costs to be for my client. However the fees will vary for you depending on the vendors.

- Appraisal $200-400
- Credit report $25
- Lender fees $800-1000
- Escrow & title fees $300-500, lender's title insur depends on your loan amount
- Recording fee $100
- City and/or county transfer tax - depends in city/county. Est about $500 for Mt View
- Hazard insurance premium - $500-800, may be more if flood insurance is needed. Condos/townhomes usually have HOA that covers insurance.
- Inspections if you desire - $300-800
- Prepaid prorated interest & property tax - depends in interest rate & when you close. Probably $1000-3000

Total probably around $5000-7000

If you pay all cash, then these are not needed: appraisal, credit report, lender fees, lender's title insurance - altogether about $1500-2000

If you're dealing with a special situation like buying a brand new home or foreclosed property, then you may end up paying for other fees as well. - Thu Jun 19 2008, 11:31

There are new townhomes that just started selling in Palo Alto... 3 bedroom, 3 bathroom, 1300 sq ft, 2 car garage starting in the $800's. I just visited these homes a few weeks ago and they are quite nice. Contact me if you'd like a tour. We work with new home builders. - Tue Jun 17 2008, 11:18

It depends on which route you have to take. Hwy 87 doesn't have many lanes and is the worst especially around Hwy 280. Hwy 85 is slightly better but still a lot of traffic. I use to work in Sunnyvale and lived near Capitol Auto Mall area. (I've also lived in Blossom Hill area and also went to school down in Almaden Valley when Hwy 87 was built.) For work, I did the Hwy 87 to 101 then switched to Hwy 85 to Hwy 237 (very congested intersection as well). My company started offering free VTA passes so then I took lightrail to work. It would take me about 1.5 hrs to get to work on light rail because there's a transfer point in the middle. Personally I didn't like the commute. I have a friend with a similar commute now and he's considering buying a condo to be closer to work and renting out his house. - Thu Jun 12 2008, 13:38