Brian Fortune

I'm a:	Real Estate Professional
Location:	San Jose
Web sites:	Company web site
Phone:	408.677.1498

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About Me

Broker
Realty World Windsor & Associates
San Jose CA

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Brian Fortune's Answers (12)

San Jose neighborhoods - services vs square footage?

Asked Wed Jan 30 2008, 11:33 by Julia - Willow Glen - Market Conditions - 11 answers

Brian Fortune answered:

I agree. Sounds like Willow Glen and Rose Garden would suit you, but I would also include Campbell. It has some good schools which help with re-sale and a vibrant downtown.
Remember there are three rules that make any property desireable. Location, location and location! - Wed Jan 30 2008, 12:48

Is it too late (in the market) to buy a fixer upper in Campbell?

Asked Thu Dec 27 2007, 13:58 by Kyle @ Trulia - 95008 - Market Conditions - 4 answers

Brian Fortune answered:

Hi Kyle,
As a Campbell resident I agree Campbell is a great town not only to live in but also invest but be careful. Everything depends on your timeframe. If you are looking to the short term then a fixer upper is not such a good investment. The market will continue to soften and prime properties will become more affordable which makes a fixed up property difficult to sell at a reasonable profit. A fixer upper only makes sense if you intend to keep it for at least the next three to five years. That said there are great opportunities in Campbell at the moment. - Thu Dec 27 2007, 19:46

Downtown San Jose - Buy Now or Wait? I am relocating to San Jose for a job and have been actively looking

Asked Mon Dec 17 2007, 16:48 by Jake - Downtown San Jose - Foreclosure - 9 answers

Brian Fortune answered:

Hi Jake,

If you are renting now then you are wasting money by not buying and waiting only costs you more. If you own right now then it is a different story, wait a few months.
The new condo developments have great deals currently which will probably not last much beyond February. Once those deals are gone then the rest of the market will respond accordingly.
Incidentally, there are some great first time buyer programs offered in the San Jose area currently, up to 100% financing and at below market rates. - Tue Dec 18 2007, 11:19

Is this a good time to buy a 3B/2B condo for 565K in cupertino villas. It is in cupertino school district.

Asked Tue Nov 20 2007, 16:59 by Bobby - 94087 - Home Buying - 5 answers

Brian Fortune answered:

Be prepared to bid over the asking price. While it is true that the market overall is projected to soften by 4% next year there are exceptions. Cupertino is one of them because of the school district. Most homes in Cupertino are receiving multiple offers, as much as 20% over asking price, are selling very quickly and often with no loan contingencies (cash).

If you have not already done so you need to get pre-approved on a loan ASAP. There are many first time buyer programs still available with below market rates and zero down. As a rough illustration a $2k a month rent payment is equivalent to a mortgage of $475,000 with zero down and $525,000 with 10% down, based on a conventional 30 year fixed amortizing loan. There are alternative loans available that put you closer to the asking price without increasing your down payment. - Wed Nov 21 2007, 09:06

I'm relocating from Philadelphia to San Fran Bay Area. Should I buy or wait?

Asked Wed Oct 10 2007, 12:52 by Link - San Jose - Home Buying - 12 answers

Brian Fortune answered:

Thanks for the clarification. I think you already know the answer in your heart, especially with the relocation costs being reimbursed. Personally speaking, renting property to students when you are on opposite coasts would worry the heck out of me! I moved from the UK and rented out my home to begin with so I know what I am talking about! Peace of mind has a price too.
Plus, not all of the area is in decline, and if you are looking to make this your permanent home then you have to look to the long term. As your wife will testify this area is not like any other and will continue to expand in the long term. Better to get in now and bite the bullet. - Thu Oct 11 2007, 12:01

The simple answer is if you can afford the payments buy now, because when the market turns, as it always does, then you may find that you have missed the opportunity. I do not know where you have been looking but $500,000 is a great entry level price at the moment.

Bear in mind that when you move to California you have both state and federal taxes to pay so anything you can do to reduce your tax liability, i.e. a mortgage, is going to help you.

Renting only make sense while you get to know the area but most renter’s will want a 6 month lease. - Thu Oct 11 2007, 10:44

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