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Property Q&A in 95050 : Real Estate Advice

  • All34
  • Local Info0
  • Home Buying14
  • Home Selling4
  • Market Conditions1

Activity 6
Thu Apr 16, 2015
mmathur24 asked:
I claimed the home and tried to delete the pictures, but I couldn't. Could you please help and delete the pictures
0 votes 0 Answers Share Flag
Sun Jan 29, 2012
Ricky Ablaza answered:
Hi Rashmi,

Allow me to suggest a way to search for your criteria. First search for schools in the different zip codes / areas you are considering to reside in. To search for schools, go to: http://www.buyorsellhomesinthebayareaca.com/mischool/zip/95050/.

Right now the site is in a search for 95050 santa clara schools. Pick the school that attracts you the most. You can also go to other zip codes by entering a new zip code in the "Enter a Zip Code to get Started Search" window. If you need a list of City Zip Codes email me at rpablaza@comcast.net and I will email a list to you.

Creat a shortlist of school/s you would consider for your children. Email me the short list and I will send you properties that are within your budget of mid $500k's.

Thanks
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0 votes 9 answers Share Flag
Sun Jan 1, 2012
The Medford Team answered:
Azular:

Unfortunately, like it or not, the local area sales ARE your comps, even if they are foreclosures or short sales. Back in 2007-2009, no one wanted to include REOs or short sales in appraisals because they didn’t fit the current appraisal parameters. Unfortunately, the parameters have changed. In many neighborhoods it’s impossible to get a “normal” valuation because the majority of sales have been distressed properties. Therefore, the comps for the neighborhood are, in fact, the distressed homes. There’s no way around it. Even if you get a higher appraisal, when it comes time to sell, buyers will not pay more than the going rates for the area.

In your case, if a family member buys out the rest, they are going to be the one looking for the most realistic valuation – they are the ‘buyer’ and will not want to pay more than market value – which, like or not, now includes the local distressed properties. As suggested below, you can talk to an appraiser with both light commercial/industrial experience BUT … they are not appraising a property that has a combined use – they are appraising a single family home in a marginal area – and the value will reflect that.
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0 votes 6 answers Share Flag
Sun Oct 23, 2011
Grace Hanamoto answered:
Hi R and thanks for your post.

To be frank, in reading your question, it sounds a lot like you've really already made up your mind that the KB Homes project gets your vote as the more desirable home community. If so, then buy the KB project!

Although I'd love to you tell you that one is intrinsically "better" than the other, really, in the end, it matters not what I think but what you want as a home buyer. After all, the investment is yours--not mine. In cases like this, you should be conferring with your Realtor to determine the best home. If you erred and did not take a Realtor with you when you visited each community, I can tell you that neither KB nor Shea will allow you to now be represented by a Realtor. They are pretty fastidious about their "Realtor at the first visit" rules, however, there are the develope'rs sales representatives, and they are very versed in the "competing" product in the market, so both the Toscana and Boulevard representatives can speak intelligently to you about the differences in each community.

From my perspective AND not knowing anything about you or your buying goals, I think both projects are equal, and here's why:

1. Shea vs. KB - edge to Shea, and not just because I know their management team, but also because they simply build a better product and project. Their construction methods are a little better and their crews have been with them longer.
2. Design of Interior Home Shea vs KB - edge to KB. Okay, so I said that they don't build as well as Shea, but, boy oh boy, do they know how to maximize a small space AND provide the interior layout that meets the needs of today's young buyers. Your comment that the KB homes "seems more spacious" is a often repeated comment of buyers and it shows KB's attention to the layout of their interiors. Shea's angle is the young "business" person or the "young family" which is why you see the first floor bedroom--its usually becomes the den, the rumpus room for the kids, or the guest quarters. For most people, however, as you have already noted, a first floor bedroom would never be used as the bedroom.
3. Location of Toscana to Boulevard - edge to KB. Although the Boulevard project is more "centrally" located in Santa Clara, I'm going to give the edge to the Toscana project for better placement. Too much traffic on the El Camino Real, and it's a pretty noise place all day long.
4. Resale Value KB vs. Shea - Oooo, this is a toss up, with a slight edge to Shea. Shea has a really good name with consumers in the know, so that will work in the unit's favor. The central location in Santa Clara will also be deemed desirable by many so long as you get a unit in the far corner away from the street traffic. And, I believe the Shea homes are part of a planned development while the KB Homes are condos, so again, a slight edge to Shea.

So there you have it--2 points for Shea and 2 points for KB. Personally, you'll have to live in the house for the next 5-7 years to recoup any money from your investment, so it's best to get the home you REALLY like regarding the interior flow and the design--and, for you, it would appear that this would be the KB project. Good luck!!

Sincerely,
Grace Morioka
Area Pro Realty-People's Choice
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1 vote 1 answer Share Flag
Tue Jun 29, 2010
Gilbert Richards answered:
Hmmm, call your loan officer and have them call their escrow company. Being that it is a child to parent situation it might not be an issue
0 votes 7 answers Share Flag
Thu Feb 26, 2009
Linda Baker answered:
Hi RD,
This home went on the MLS 11/10/08, changed to sale pending on 1/5/09, and closed escrow 2/18/09.
The list price was $543,900, and sold for $530,000.
Auction sites are great, but almost all properties are also listed on the MLS.
Don't miss out on great properties, or get confused by some of the foreclosure websites that incorrectly list the price of the home. MLSListings.com is the best source of information.
I also provide buyers a MLS push, with new listings sent directly to your email. We can tailor the search for exactly what you are looking for, including REO's.
Let me know if I can help you with anything else.
Cheers,
Linda Baker
Alain Pinel Realtors
LBaker@APR.com
408.712.3432
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