NT, Home Buyer in San Jose, CA

Confused between Corde Terra and Spyglass - not sure if I can find something better for $600K

Asked by NT, San Jose, CA Mon Feb 11, 2008

I am new to San jose area. I am getting a single family town home at Corde Terra (nearest cross street Tully and Senter) and an attached town home at Spyglass (Curtner and communication hill, close to 87). The price is the same though the floor plan at Corde Terra is better and bigger. Now my Dilemma is which one is better. My budget is $600K. Can I find something better. Need some help here.

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9
Terri Vellios, Agent, Campbell, CA
Tue Feb 12, 2008
How do you define BETTER? When comparing two communities you will want to look at the builder and their warranty, how many units, the amenities, the HOA fees and what they cover, who manages the HOA, are there any litigations in the community, additional parking and other restrictions. Also, location within the community, is it an end unit, view, noise, etc. Does one unit have gas and the other electric, and can gas be added. Is there A/C and if so will you hear your neighbor's A/C? What is the insulation can you hear your neighbor. Why type of roofs, siding, etc as years down repairs for one could be more than the other.
My experience includes working with a developer and New Home sales. One newer community can be greatly different from another even though the floor plan is not so different. The quality of the finish work can vary.

As for appreciation no one can predict, in the Valley 6% per year was average but we will see what happens over the next few years as we recover from the finance crises.

There are areas in our valley that hold their values and appreciate faster than others. In your price range that would be Cambrian 95124 and parts of 95118. You should expect to find an older home/townhome verses newer like you are looking at. If you are comparing a single family home to an attached home in the same area, the single family home will most likely be more desirable. Provided there are not power lines, noise factors, lights, etc which affect it's value.

Let us know how it turns out.
Web Reference:  http://www.terrivellios.com
0 votes
Ali Moein, Agent, Saratoga, CA
Mon Feb 11, 2008
Hello NT,.
If you're looking at this as a long term investment, buy a home with good schools those always appreciate best. If you cannot get something you like with good schools (in Almaden 95120, West SJ 95130, Campbell 95008, Parts of Sunnyvale 95087, saratoga 95070, cupertino ... ) buy a single family home in the 95124 zip code
0 votes
Realtor, ,
Mon Feb 11, 2008
NT, I have a crime search on my website, feel free to visit. It's also really hard to predict an exact percentage of appreciation in a particular area. But make a list of your wants and must haves and see which area outweighs the other. Some things to think about are the location of the property and which one has more traffic. Drive by each one and see what the night life looks like. Is there too much noise? Is there street parking for visitors? Is there a lot of foot traffic or a bus route? Those factors will determine the appreciation of your property in present and the future.
0 votes
NT, Home Buyer, San Jose, CA
Mon Feb 11, 2008
So is it that both the areas same. where can I find crime statistics for Tully road. Also does any one know if Fairgrounds will be destroyed for sure. Also I would like to know if I can find something better in $600K and which areas I should look at.

Cherly you mentioned 10% is something I can expect, but is it too much if my real expectation is 25% (10% is minimum)

Thanks for the help
0 votes
Homes, Home Buyer, San Jose, CA
Mon Feb 11, 2008
There is another beautiful brand new single family townhome development in the area on Lewis Road, between Senter and Monterey, called Crimson. Although the homes are attached, you own the land the home sits on. They have a huge 4 bedroom unit with a great floorplan for just over $600,000. You can check it out at http://www.visitcrimson.com.
Web Reference:  http://www.visitcrimson.com
0 votes
Realtor, ,
Mon Feb 11, 2008
NT, are you wanting an appreciation of 10% in 5-7 years? If so, that is something you can expect to happen. There is a Target and Best Buy built at Monterey and Curtner......they're building a big shopping center there.
0 votes
NT, Home Buyer, San Jose, CA
Mon Feb 11, 2008
Thanks for replying. I am confused about the area more then the floor plans. My plan is to sell the house and move out in 5-7 years. Now I am not sure if any of these areas will appreciate enough for me to put my money. I am paying close to 5.75-6 % APR on my mortgage and expect at least an appreciation of 10%. Is 10% appreciation too much.

I have been told the Fairgrounds will be turned into something else and that soon there will be a target and best buy close by.
0 votes
Realtor, ,
Mon Feb 11, 2008
NT, how did you feel when you walked into those two homes? Which one met your needs? Picking your home is a personal decision. A Realtor can advise if the purchase price you want to offer is at market value with other recently sold properties. If you need help locating properties you can contact any Realtor and get some sound advice :)
0 votes
Ali Moein, Agent, Saratoga, CA
Mon Feb 11, 2008
Hello NT,
Choosing between two possibilities is something that only you can do. As Realtor I can advise you on pros and cons of each property, however since I don't know what your parameters, likes and dislikes are my advice will be irrelevant.
0 votes
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