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Home Buying in 95127 : Real Estate Advice

  • All32
  • Local Info4
  • Home Buying13
  • Home Selling8
  • Market Conditions2

Activity 12
Tue Mar 29, 2016
Arpad Racz answered:
Hi,

There are some stats here: http://www.trulia.com/local/95127/type:home_prices_listings_affordability

All the best,

Arpad
0 votes 1 answer Share Flag
Tue Jan 7, 2014
Juliana Lee MBA LLB answered:
Generally buyers are required to do their own due diligence (inspections) with any real estate purchase. Sellers provide inspection reports so that the home can be sold quicker and at a more favorable price.

Sellers and real estate agents are required to disclose anything that they know (or should know) that would materially affect the value of the home. Locally buyers expect to get very detailed information about a home but due diligence is more of a requirement on the part of the buyer than of the seller. Real estate agents are held to higher expectations than the seller.

For most homes to sell at a good price, the home normally has to meet the qualifications for a lender to provide a mortgage. Thus sellers generally try to meet those conditions but that is only specifically required if it is part of the purchase contract. Note, only a licensed attorney can provide legal advice.

It is very unlikely that any seller would have to put a new roof on a home they sold "as-is". Work with an experienced real estate agent and they will guide you to understand any risks to your purchase.

San Jose zip code 95127 home values can be viewed at
http://julianalee.com/zip-code/95127-statistics.htm

San Jose recent home sales can be viewed at
http://julianalee.com/zip-code/95127-home-sales.htm

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650.857.1000
juliana@silicon-valley-homes-for-sale.com

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
.
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0 votes 6 answers Share Flag
Mon Jul 29, 2013
Juliana Lee MBA LLB answered:
To see just sold homes in zip code 95127 visit http://julianalee.com/zip-code/95127-home-sales.htm
To see home values for zip code 95127 visit http://julianalee.com/zip-code/95127-statistics.htm

To get a good estimate of a home's value you need to have an experienced real estate agent visit it. Statistics always lag what is happening in the real estate market. If you look at the fine print for the computerized estimates on some of the large 3rd party websites you will see that locally they are only within 5% of the actual selling price 32% of the time. These websites have access to almost every sale made. An experienced first hand opinion is much better than a computer or an opinion given without seeing the home.

A top experienced agent is making and listening to purchase offers multiple times each week. She can advise you what to do to get the best purchase or sale. The sale price can be significantly affected by the real estate agents involved.

Buying a home involves a lot of most people's total wealth. Home buyers go through a learning process to be comfortable with their own and their agent's choices. Advice given over the internet can help you but it is not nearly as good as the opinion of a top experienced agent working for you.

Are you trying to second guess advice an agent already gave you? Are you trying to buy without an agent working for you?

I present a buyer seminar regularly. Give me a call and we can chat.

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650-857-1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
.
... more
0 votes 5 answers Share Flag
Fri Dec 28, 2012
Bill Eckler answered:
Hi Vern,

You've been given good advice leaning toward the importance of taking a course of action that will protect you from a "conflict of interest" by using one agent for two very different services. We strongly agree that you should not use the same agent.

Let's look at this from a practical perspective and read between the lines. You have an agent that appears to be wearing two hats at the same time. A simple question of which is his day job and which is his night job? Does he have a specialty? Which one is his full time position? What are his other jobs?

The bottom line is that the level of service you receive could be compromised.....there is risk involved when considering a real estate agent that is less than full time. Those of us that have been in the business a while can truly see the differenct between full and part time agents.

If you are OK with receiving less than full service......go for it, but you deserve much more! Since you met this individual as a loan specialist, the best course of action may be to leave it at that.

Good luck,

Bill
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0 votes 16 answers Share Flag
Fri Dec 14, 2012
Jon Nichols answered:
If the home is grossly overpriced, have your broker speak with the seller's broker. The listing broker may agree. They often time say that they are arguing with the seller about the price every day.

I say, make your best offer and support it with the comps. The listing broker may be very happy. This way they can show the seller that they were right. Once in a while they will call you back a few weeks later and say that they changed their mind. Are you still interested?

Good luck.
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0 votes 7 answers Share Flag
Fri Dec 14, 2012
Jon Nichols answered:
If you really want to buy at auction, you must be willing to take a lot of risk. The best place to buy at auction is a mortgagee's auction. Keep in mind that you will typically only be able to look at the home from the sidewalk. You will need to close in 30 days. You will have no contingencies. You will have no inspections. You will be responsible for back taxes etc. Unless you are a professional investor, I highly recommend you stay away from this type of transaction. ... more
0 votes 5 answers Share Flag
Sat May 5, 2012
charles butterfield answered:
Thank you for your response Erika:

Yes I think that you are very wise to engage a REALTOR with the experience and formal education, of Mitchell Pierce. This is especially true where you want to bid on the 1st mortgage at a trustee sale.

This is a transaction that requires a great deal of knowledge and experience if you are to be successful AND PROFITABLE.

If you do not have a great deal of recent, successful experience doing this, you definitely want to hire someone like Mitchell Pierce to represent you,
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0 votes 6 answers Share Flag
Wed Jun 23, 2010
CJ Brasiel answered:
Ruth and Perry -

This is where it really counts to understand all the features of the property and compare carefully. Identifying the "average" price per square foot is a start but then identifying value for the lot based on how "use-able" it is is also key. Views, not only now but what is the potential for obstruction by future building? There is also potential value in the fact that the ability to add on to the home in the future (assumed large lot) that can also play a role. Also, is the lot landscaped or natural? The value of having an adequately irrigated large lot has value.

Privacy is another key factor to the value as well as exclusivity. Is it gated (can it be)? Are there neighbors right next to you or is their a measure of seclusion? Also construction plays a more important role for these homes. Are there proper retaining walls? Is the foundation significant or just adequate? Hills tend to slide over time and preparing a home site takes considerable consideration.

Finally, adding in all the specific features of the actual floor plan. Does the house take advantage of lots of windows for views? Is there adequate decking to enjoy views/outside living? How many rooms/baths? Appropriate for lot size? Security? The ability to entertain? High ceilings? Heating/AC efficiency?

These homes take more detailed analysis than simply last sold 3/2 in the zip code. If you would like a second opinion, I am glad to help. No obligation.

Thank you,
CJ
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0 votes 4 answers Share Flag
Mon Dec 7, 2009
Norman Alessandrini Warren Weston answered:
Kelly,
All of the answers you recieved have been good, I would just like to add my experiences with Short Sales and banks. The things you need to know are these,1. if there is a second loan on the property then the negotiators for the 1st and 2nd need to work out how much the 1st will allow the 2nd to take. Here there is a problem because the 1st and 2nd rarely agree and the process stalls right there, usually over 4k to about 7k it could be more depending on the home price and the amount of the 2nd loan ( as a note the second usually trys to recover about 10% of the loan). The thing I have my buyers be prepared for is to offer the second the difference so we can move forward other wise it stops right there and you could lose the home to foreclosure very easily. Most times it is worth it, but sometimes it is not , it all depends on the price of the home and the comparables. ( be aware that you have to come up with the difference as additional money to your down payment and closing costs).Now if the listing agent knows what they are doing they should know where it is stalling out and where the process is at and you can then know your options of what to do.
2. Now if there is no 2nd then it could be any number of things like the negotiator has back logs, lost your folder, quite working there and they haven't assigned someone new yet , gone on vacation, etc; I have had ALL of these occur with banks on short sales. Again you need to have your agent stay on top of the listing agent to find out where it is stalled, sometimes with inexperienced short sales listing agents your agent has to walk them through it, so hopefully you have an experienced agent. Believe me you need a lot of patiences and your agent needs to stay on top of things. By the way I am just in the process of closing a short sale for a buyer and it took 10 months!!!! to get final approval, so hopefully yours will NOT take nearly as long. :)
I hope this helps, as always feel free to contact me with any questions.
Regards,
Allyson
408-705-6578
allyson@homesbyallyson.com
DRE# 01397256
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0 votes 5 answers Share Flag
Thu Jul 16, 2009
Bill Mccord answered:
There are 2 closing cost items that vary between all counties. With respect to the specifics you give, Buyers Title Insurance, and Escrow fees are customarilly paid by the Seller in Santa Clara County, and the Buyer in Alameda County.
While County Transfer Tax is the same for all Counties, you need to be very careful to check on City Transfer Taxes which vary widely.
All other closing costs will be the same regardless of County or City and your source for a summary of these must be your Agent. If you do not have an Agent then the escrow company is you only other source.
Re your question on "Closing Cost Credit". As you are paying cash any such credit is the result of direct negotiation between you and the Seller and can be whatever both agree to.
Hope this helps,
Bill
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0 votes 3 answers Share Flag
Thu Jul 16, 2009
Rosie answered:
Hello,
I grew up in this area and have many fond memories of the parks and neighborhood. If you are not already familiar with it, take some time to drive around the neighborhood...My family still lives there. ... more
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Thu Jul 16, 2009
Joyce Engstrom answered:
I am an agent with over 20 years experience. I have lived in this area for over 30 years. I have never had a problem and neither have any of my clients that have bought in this area. The problem area is King Road and the Story Road area near the Freeway 101. I try to avoid that area. You should look as close to the Hills and within a mile of the San Jose County Club. This area is Central to all freeway and within 10 minutes to down town. Unfortunately the crime rate is mixed in with the negative areas around the 101 freeway and King road area which is actually 4 to 5 miles away from the hill area.

This is currently one of the hottest areas in sales on the low end and there are some terrific buys both in the low end and the high end.

If you want a home for yourself you can get a 2000 Sq ft home on the hill near the San Jose Country Club for 560K to 650K. these are homes in good condition and in great areas some with views and large lots. These home sold a couple of years ago for 800K and up! However there are very few at this price.

If you want an investment property then look at some of the 300K homes that are getting multilpe offers right now. For these be prepared to compete with other buyers. And don't wait, the good ones are selling fast.
They perviously sold for 460K-600K and the prices are currently raising because of the demand and the multiple offer situation.

THANKS FOR READING and feel free to call if you have other questions.
Joy
408.272.9188

Web Reference: http://www.joyengstrom.com
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