Caroline

Hi SK,

The best thing I can recommend is that you go to the street at different times of the day and see for yourself how busy it really gets. I wish that I had done that when I moved to where I live now. We moved before I went into real estate and our realtor only met us on the weekends when it wasn't busy. The upside is that it inspired me to become a realtor. The downside is that I live on a busier street than I anticipated. Let me know if you have another questions. Best of luck! - Wed Apr 23 2008, 16:27

Hi Rajiv,

Do you want to compare lot and house sizes or just get an idea of how appreciation compares?

Caroline - Wed Apr 2 2008, 19:08

I think you might like being close to downtown Campbell. Take a look at a townhouse community on Latimer Circle. They have great neighbors and you're close to restaurants, shops, coffee and even a farmers market. Also, Campbell has the advantage of a legitimate nightlife. You guys should check it out if you get a chance. I attached the city's site. Good luck! - Tue Apr 1 2008, 20:06

Hi Rai,

Buying in downtown San Jose is definitely more of a risky investment. One of the best ways to hedge against a volatile market is to buy in a good school district, even if you don't have children. However, the area that you are looking into is a very nice area with easy access to freeways and shopping. The best advice we can give you is to have your agent show you the property's history and the comparable sales for the neighborhood in the last three months. If the house is priced right and you are not planning on flipping this property, are in it for the long haul, you should be fine.

Take care,
Caroline - Tue Mar 25 2008, 12:41

Hi Jason,

What a great place to be in life! I think you should give yourself a high-five for being as young as you are and having a good job, money in the bank and a great FICO. My guess is that you didn't get there by accident, but by careful and conservative planning. In planning for your next phase you have to decide how conservative you want to be. It's an investment risk where no one has a crystal ball. The buyers we are working with right now are fairly aggressive buyers who invest with the mindset of "buy low, sell high." It's a phrase we have all heard and understand in theory, but it's something completely different when it's our money on the line.

In the end, I'll tell you the same thing I would tell my best friend... when you rent you pay someone else's mortgage and get none of the tax benefits or appreciation. And yes, properties are still appreciating if you buy in the right part of the South Bay. If you wait until you can afford a house there's no guarantee that prices won't have gone up, effectively putting you into the same position you are in now. Another benefit is that the interest rates really good right now. If you wait a few years you might not be able to afford that much more and you will pay more interest. Given your background, I think you should consider starting with a condo in a good area. Look for good schools and make sure the development is well funded. The good schools will help hold your value because they are usually the last to go down in price and the first to go up. A well funded development will have reasonable HOA dues and plenty of reserves so that your house warming present isn't a bill for "x" thousand dollars for a new roof, let's say.

Either way, enjoy the process. You worked hard to get here.

Take care,
Caroline

P.S. Feel free to check out the link below to a good condo vs. home article. - Tue Feb 5 2008, 17:11