Can someone please share some insights on buying a home that is right on the Paseo Padre Pkwy in ardenwood - fremont?

Asked by ramkumar_rk, Fremont, CA Wed May 9, 2012

Can someone please share some insights on buying a home right on Paseo Padre Pkwy in fremont? I specifically would like to know if (a) there will be noise in the Paseo Padre and Deepcreek intersection and (b) Should i be paying a lower price for a property that is right on the road (for a comparable property not on the main road)

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The Medford Team’s answer
The Medford…, Agent, Fremont, CA
Thu May 10, 2012
If your screen name is any indication, you are actually the person selling the property, so, if that’s the case, I’m not sure why you are asking this question as a “buyer.”

As the seller, you know whether or not there is traffic noise – and you know whether or not it’s been an issue for you. And you have a pretty good idea that it WILL be an issue for many subsequent buyers. As clarified below, properties that are on the main road are usually listed for less than comparable homes inside a subdivision.

Is it possible you and the listing agent have differing opinions of the value based on its location? If that is the real purpose of this question, then perhaps you should be asking THAT question as a seller …

Additionally, as stated below, since the market is so hot right now and inventory is so low, this will not be as much of an issue as when the market is slow or dead.
0 votes
Carl, My response is same as my earlier response to Ken.. I am not a seller. I don't know what you are looking at to make these interpretations.. If you read my question carefully, it is indeed about buying a home that is right on Paseo Padre..
Flag Thu May 10, 2012
John Juarez, Agent, Fremont, CA
Wed May 9, 2012

You are asking a question in the wrong context. In other words, your question assumes that you have the ability to negotiate. In the current market, with too many buyers chasing too few houses, the typical multiple offer scenarios negates the negotiation power of the buyers. You can try to pursue the strategy of offering less due to the perceived bothersome traffic noise but I doubt if the seller will be sympathetic. After all, the seller bought there, lived there and, most likely, will tell you that the noise does not bother them. If you are the only one making an offer, you can stand your ground and insist that the proximity to the traffic demands a discount. If there is another offer(s) you will lose your leverage.

By the way, if the traffic is truly a bother to you, why buy there? You do realize, don’t you, that the roads will be there and the traffic will be there when it is time for you to sell? The market conditions at that time might allow a buyer to negotiate a lower price from you. Between now and that time, you and your family will get to listen to the traffic noise.
1 vote
Ken Vasan, Agent, Fremonet, CA
Wed May 9, 2012
Looking at the Tax record, I see that the listing referred to below is coming from the the same person who raised this topic. I pull back my opinion below as it could be a conflict of interest and unethical if my assumptions are true.
0 votes
Are you saying i am the seller? I wish I had some homes to sell.. Please note that there could be several people with the same name. I am interested in buying
Flag Thu May 10, 2012
Brian Ripp, Agent, Fremont, CA
Wed May 9, 2012
Hello Ramkumar,

The new listing on Paseo Padre is very nice and listed at $499,888.
There is a home "pending" on Deep Creek very similar to this home listed for $575,000. and sold in approx. 8 days. Most homes are currently selling with multiple offers over asking price.

As the others mentioned, the real estate market is doing very well right now and there are a lot of buyers taken advantage of the low interest rates and low home prices. Experts are forecasting up to 10% increase in this years home values. So it's best to sit down and review all your options as well as your home wants & needs. And start your home search soon.

Feel free to contact anyone of us and see what we can do to help you.
~ good luck,
0 votes
Thanks, Brian
Flag Sat May 12, 2012
Meena Gujral, Agent, Pleasanton, CA
Wed May 9, 2012
Hello Ram,

In a slow market there is less demand for a home located on a busy street, but when the maket has such low inventory, especially in Ardenwood (good Schools) where the demand is so high, buyers will willingly buy a home on a busy street.

You need to go to that area during the commute hours and see if the traffic and noise bothers you. If you have little kids, would there be a chance they could run out to the street? What is the noise level when you open the windows at night? And of course, depending on how the market is when you sell, it can effect the price you get for the house.

Hope that helps.

Meena Gujral
0 votes
Thanks, Meena
Flag Sat May 12, 2012
Joe Patel, Agent, San Ramon, CA
Wed May 9, 2012
Technically the home located in close to busy street get less value than home located away from busy street.Having said that it also depend on supply and demand.Right now in fremont,not many homes in the market and demand is high.Unless the seller don't have any offer, you will have less chance of getting your offer accepted.Good Luck!
0 votes
Thanks, Joe
Flag Sat May 12, 2012
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