Deciding between Shea Homes Boulevard (3/2 Ellington Plan) and Campbell Onyx (2/2 Loft) for the same price (HOA Mortgage). What's a better

Asked by Alucard112, 95008 Sat Apr 9, 2011

value? Wife works in Campbell, I work in Sunnyvale. Commute is ~30 minutes for both of us.
Really concerned about which is the better value for resale, location, and future rent (Given 3/2 townhome vs. 2/2 condo)?
Appeal of Onyx is living near Pruneyard, general area, and easier access to freeway
Appeal of Boulevard is the attached garage, 3 bedrooms, lower HOA
In need of some desperate advice. Thanks!

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7
Tina Lam, Agent, San Jose, CA
Sat Apr 16, 2011
While a 3/2 is not that much better than a 2/2 in a townhouse/ condo setting, townhouse with attached garage trumps a condo anytime. No upstairs or downstairs neighbor and garage adds a lot of storage. I work with so many clients that look at townhouses exclusively. They will not even consider a condo.

I am with you that I like the pruneyard area a lot myself, much more than santa clara. However a lot of buyers will find Santa Clara to be closer to 101 and thus a more convenient location.
Web Reference:  http://www.archershomes.com
0 votes
Ruth and Per…, Agent, Los Gatos, CA
Mon Apr 11, 2011
Hi Alucard

You should go with a 3/2 town home for future resale and if you desire to rent it
Down the road. Without a third bedroom you loose half the potential renters And buyers
with two kids.

Good luck.
Perry
Web Reference:  http://www.ruthandperry.com
0 votes
Terri Vellios, Agent, Campbell, CA
Sun Apr 10, 2011
Alucard112,

I've met Yvonne once when I popped in to see Kristen, nice woman.

You are comparing two different communities, and I see why that can be conflicting. I've lived near Santa Clara, actually grew up in Sunnyvale and I raised my sons in Cambrian and my office is in Campbell. My preference for neighborhood, would be subjective to how I live and work and that is what I would urge you to consider for you and your wife.

Because I am in the Campbell area I would choose Onyx because it is close to my office, I really like the downtown area of Campbell and I spend time in the Pruneyard. But I wouldn't choose Onyx because it doesn't have a garage and 3rd bedroom which is a requirement for my husband and myself.

As for Boulevard. What I like about the location are all the restaurants on El Camino. I absolutely adore the variety. I don't venture out that way as often as I would like so end up staying in the Campbell area.

As for HOA fee's consider that they don't go down. During resale time a buyer is going to take the into consideration.

It is a huge decision, but what ever your choose, I'm sure you will be very happy. I hope to hear what you ended up selecting.
Web Reference:  http://terrivellios.com
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Alucard112, Home Buyer, 95008
Sat Apr 9, 2011
Hi Terri,

I'm working with Yvonne at the Boulevard. Maria at the Onyx. 20% down is not an issue.
Both units are 1600+ sq feet, and both in the $520 (Onyx, high HOA) - $570 (Boulevard, lower HOA) range.

What are your thoughts on the location and surrounding neighborhoods for both?
0 votes
Terri Vellios, Agent, Campbell, CA
Sat Apr 9, 2011
Alucard112. It depends on how the title is deeded. I do believe Boulevard is considered a townhome. A townhome doesn't mean stairs, even though they usually have stairs. A condo you own the inside walls and the airspace in the condo. In a townhome you own your walls, roof, and the portion on land beneath. Condos are difficult to finance because of the ownership and management. The lender (verify) I believe charges a little bit more in interest to fiinance a condo. Some of the issues we are having with financing condos right now is that many of them are not or no longer FHA approved so borrowers need to put 20% down or need to find Private Mortgage Insurance (PMI) for 10% and then put 10% down.

What sales representative are you working with at Boulevard? I've worked with Kristen Nowak when she was at Axis.
Web Reference:  http://terrivellios.com
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Alucard112, Home Buyer, 95008
Sat Apr 9, 2011
Thanks for the help. We like both communities, will plan to live there 5 years, and both are going to be equal price after you add HOA and Mortgage.

Onyx has reserved underground parking, but not the garage.

Schools are only important to me for the value it adds to the resale of the property.

Why would the financing be better with a townhome?
0 votes
Terri Vellios, Agent, Campbell, CA
Sat Apr 9, 2011
Alucard112,

Even though I am right down the street from Onyx, I've yet to go inside. The prices have seemed so high for the size. I do like Boulevard and a garage is definitely an added value along with the 3rd bedrooms. Are you thinking of expanding your household? Are schools important?

For resale my best guess is that Boulevard will appreciate because of the bedrooms and garage, plus being a town-home financing may be better.

Which community do you and your wife like better?
Web Reference:  http://terrivellios.com
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