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Home Buying in Cupertino : Real Estate Advice

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  • Home Buying99
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Activity 124
Yesterday at 11:57am
B.degeest asked:
Mon Jan 30, 2017
Sam Shueh answered:
Sat Nov 12, 2016
Arpad Racz answered:
Thu Nov 3, 2016
Alysse Musgrave answered:
You need a GOOD real estate agent to reduce or minimize your risk. If you're buying, hire an Exclusive Buyer's Agent, not a regular buyer's agent. Visit NAEBA.org for a referral.

Don't Let Them Make a Monkey Out of You! Follow the links below.


Alysse Musgrave
Consumer Advocate
Exclusive Buyer Agent

Best selling author of Buying a Home: Don't Let Them Make a Monkey Out of You! US, Texas, and Spanish versions available.
... more
0 votes 40 answers Share Flag
Fri Aug 12, 2016
Joyteachem answered:
Come on people, it's a poker game! If you are REALLY the only one interested enough in the property and the seller KNOWS that? It is whatever the market will bear, who flinches first etc. We are going through EXACTLY such a transaction now...we snatched it off the market the day it listed at full price because I am AFRAID to lose it to other potential buyers...I PAID for the privilege and inherit along with that all the butterflies of "coulda shoulda woulda" But the great thing about real estate historically? A ten percent inflated price means so very little in the long run....financed at 3% it means even less....I PAID to stay in the game and I am BETTING that my choice in properties is exquisite and that I will be doing my happy dance soon as comparable other properties with much less to recommend them sell for MORE...this is my bet and it required going "all in" to find out....the SELLER had his own poker demons to deal with, like "SHOULD I really give it to someone who offers to buy on the FIRST day it is listed??? Maybe I screwed up on the value?? See because in the case of this property it is NOT something there are direct comps available for, it has several things going for it ALL on one property and that HAS to affect any honest appraisal ...I could get all pissy that my offer is just over $100k MORE than another property just a stones throw away...EXCEPT that MY choice includes a HUGE steel building for all my projects and junk AND has views that go forever that my wife just adors ("happy wife? Happy Life!") not to mention that the house itself I recall being like 500 sq ft larger than that cheaper one...there are always variable pluses and minuses that are hard to attach dollar value to, but one has to do that I think to have any confidence in one's "bet" before the bet is placed....which is why some homes in some areas have 10 offers come in the first week something is on the market, 8 of which are HIGHER than the "asking price" ...but one area is like that and another is NOTHING like that....welcome to the "emotional rollercoaster" ....He one minute I am praying the appraisal comes in much lower so I can "re-negotiate) and the next I am sincerely HOPING it comes in higher than my accepted offer! Turns out, we JUST learned the appraised value DEAD NUTS exact of our accepted offer...I for one have a sense of relief that it is not something to stress over anymore...as far as something nefarious leading to that "coincidence"? How could I ever know THAT? An appraiser may be underhanded but then again he has his/her reputation with lenders and agents on the line too...helping one party too much screws another kind of thing...no? I know one thing, IF I had tried for this same property a year or two ago the seller WAS in the mood to let it go 10% less than now...The other side of that is that someone paid MORE years ago than I am paying now for the same property...an ever moving target, fluctuating market conditions...whatever ...and besides all this? "Hey, it's only money" ... more
1 vote 17 answers Share Flag
Fri Jun 10, 2016
Stormyleena answered:
My answer would be it depends. The cost to build a home varies widely by location. Building a home in warmer climates is very different , and much less costly, than building in northern states, where foundations must be able to withstand freezing, etc. Different areas have different local codes and regulations. And of course build costs change over time.

I would first suggest that you find a good Realtor and have them run a free market analysis for you on the area you will be building in. Then you will have a good idea of what the going prices are so you do not over build for that area.

http://USAConstructionLoans.com
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2 votes 12 answers Share Flag
Wed Mar 23, 2016
Arpad Racz answered:
Hi,

Choosing the best investment strategy has many factors. In addition to rental income, one can look for value appreciation, value stability if there is an economic downturn, and many other factors. I would be happy to share some thoughts with you. I know the Cupertino area well. You can contact me from my profile.

Kind regards,

Arpad
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0 votes 13 answers Share Flag
Thu Oct 1, 2015
Arpad Racz answered:
Hi,

I would recommend talking to a Local remediation company to get a few bids.

All the best,

Arpad
0 votes 2 answers Share Flag
Wed May 20, 2015
Michelle Carr-Crowe answered:
This sounds unusual; however if this is a loan officer you've worked with in the past, maybe he or she made an assumption. Usually they require you to pay for the appraisal before they will order it. ... more
0 votes 6 answers Share Flag
Wed May 20, 2015
Michelle Carr-Crowe answered:
They have a right to know condition and value of the home in order to give you a loan. Primarily they measure, take photos, do research, ask questions about current improvements (when, how much, etc.) to determine a "fair market value" as of the date of the appraisal. ... more
0 votes 2 answers Share Flag
Sat Apr 11, 2015
Cindy Davis answered:
No. 1031 Exchanges must be used for investment properties. One client I had, rented out their new property for a year or two, and then moved into it after that - I know that was deemed acceptable. ... more
0 votes 1 answer Share Flag
Mon Jan 19, 2015
Arpad Racz answered:
Hi Tony and Sherry,

Do you have a Street number please?

Kind regards,

Arpad
0 votes 1 answer Share Flag
Thu Jan 8, 2015
RonS answered:
One has nothing to do with the other, ever. Yeah, it sucks but again, they do not trigger each other. Event "A" doesn't lead to Event "B".

If you want out, sounds like this is the time to get out before you are asked to sign off on your inspection contingencies. If you didn't pay for an appraisal but they orderred it, I wouldn't pay even if they asked. I'm confident they'll push you to pay for it but as confident that if you dig your feet it, the lender will eat the appraisal fee.

No, they shouldn't have waited for the home inspection though to be finished. Also, you never order the appraisal. The lender always does.
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0 votes 20 answers Share Flag
Wed Oct 15, 2014
michaelsemail answered:
Wed Sep 3, 2014
Norman Alessandrini answered:
I agree with Dorene, the thing you need to remember is that it always cost more and takes longer than you think. So I would go with the remodel unless you plan on staying.
At your service,
Allyson
408-705-6578
allyson@homesbyallyson.com
... more
0 votes 3 answers Share Flag
Mon Aug 11, 2014
Annette Lawrence answered:
In my area of Florida I use a value inversion of .009 for every 100 SF when size exceeds 400 SF.

When comparing properties with a mismatch in tangible assets I rely on factoring using land assessed value.

I have found no way to normalize a water view with a mountain or city-scape view.

Be aware, you are on a trail of fantasy if attempting to compare a house with an obsolete floor plan to one with a contemporary design.

In may area we do have within a community, 1950's homes and 2014 construction. Establishing meaningful value has required me to implement two plans, Market In A Minute for target communities and CIS Scores. (See my Blogs on Trulia) As you will observe, your challenge in calculating a value is shared by many.



Best of Success,
Annette Lawrence, Broker/Associate
Remax
Palm Harbor, FL
727.420.4041
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1 vote 1 answer Share Flag
Mon Jul 21, 2014
michaelsemail asked:
Fri Jun 13, 2014
Julie Wyss asked:
Wed May 14, 2014
Mitul Patel answered:
Hi Arvind,

I would suggest checking with City if you have a particular lot in mind. This will go thru public hearing as well so could be little longer process then typical planning and zoning approval process. ... more
0 votes 6 answers Share Flag
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