Any inputs on condos on Mauricia Ave, Santa Clara. The commmunity is old, but the unit is recently updated.

Asked by Home buyer, San Jose, CA Sun May 4, 2008

Should that be a factor to consider? (condo age 37 yrs)??

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3
Stephanie Fi…, , Los Altos, CA
Tue May 6, 2008
The Kentfield building on the NE corner of Kiely & Mauricia is older but very well maintained. I'm a Realtor but also a previous resident of the complex. I loved the location. It has great access to shopping, the highway and other conveniences. The HOA is in excellent shape. I sold a unit there several months ago and know the details. They rarely raise the dues and have managed to keep on schedule with large maintenance items (recently replaced the roof and re-surfaced the pool). I'd recommend it as a great location and particularly good buy at the moment. There are several units on the market so the competition is good. One of the units is actually priced well below market value. I welcome any additional questions about it.

Hope that helps you!
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Constance Fa…, , Merced, CA
Sun May 4, 2008
Look at the history of the HOA fees. Typically, after 37 years you are going to see an upward spiral in the fees which are completely separate from your PITI money. In other words, there will be items that prior board members didn't see as important - like new siding or new roofs or refinishing the pool, etc., and that were'nt budgeted for - and now deficiencies in the budget need to be accounted for - ie - higher HOA dues. Even though the unit might have the most updated interior in the entire community, the part that the HOA is responsible for (all of the common walls and their related parts like plumbing and electricity) could be extremely deficient. See what the HOA dues started out at and graph the difference between then and now. You might very well be better off spending that money on a single family dwelling unless it is worth it to you to pay into a fund so you don't have to do maintenance. Single family residence owners have the option to save for long term maintenance; condo owners do not.
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Charles Coac…, , San Jose, CA
Sun May 4, 2008
This is an excellent older community to buy in, if you are looking for schools you should be part of the Cupertino Schools. Prices are good and many units in this area have been updated. It is a time when you need to make sure that you get the biggest bang for the buck. A great area to buy in and close to many high tech companies. Make sure that you really check out the HOA fees, what they cover and that they are in the black, with no assessments coming in the near future.
If you need some help, I would be glad to give you a hand!

Charles Coachman
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