Hello, what do you guys think about this price in Ardenwood for the home 34777 Shalimar Ter Fremont,CA

Asked by Dhiraj, Sunnyvale, CA Tue Aug 24, 2010

We want to know how much appreciation is possible in this area after 5 years. this stretches our budget but this is the first time my wife liked any house. Want to know the community opinion... in terms of pricing, area in general and pros/cons.

Thank you!

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The Medford Team’s answer
The Medford…, Agent, Fremont, CA
Mon Aug 30, 2010
Dhiraj:

A forum like this is not the place to get accurate pricing opinions. Realtors are prevented from giving valuations here by our code of ethics and consumers usually don’t have adequate access to pertinent data to provide a meaningful assessment.

As Meena suggested, make sure you are working with a local Realtor who knows the area and can provide you with meaningful comps.

As for your initial question, “We want to know how much appreciation is possible in this area after 5 years?”, That is, quite frankly, an impossible question to answer. We can make short terms projections based on past market history and current economic conditions, however, to project much further out would be pure conjecture. All long term forecasts I’ve seen state a recovery out past 2013. Even then, Fremont is so segmented it is hard to accurately predict one specific area with any degree of certainty.

I CAN tell you that the Forest Park section of Ardenwood has historically maintained its’ values better than other areas due to the outstanding school scores of Forest Park Elementary. However, the scores are also a bit of the problem with this area: there is currently no guarantee that if you buy here, your children will be able to attend Forest Park. The popularity of the school means there is a waiting list and as a consequence, there is also a lottery system in place.
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0 votes
Meena Gujral, Agent, Pleasanton, CA
Tue Aug 24, 2010
BEST ANSWER
Hi Dhiraj,

Are you working with an agent? You should have your agent provide you with the comparable sales in the area to make sure that you are paying the right price. Your agent can give you the history of what has been going on with this property and the neighborhood prices.

I had sold a condo recently very close to this property on Tabu Terrace. But my buyer had a problem because getting a loan there were too many tenants in that area plus many of the homeowners were not paying their home owners dues. When you have ahomeowners association with HOA Dues of more than 15% and when the Tenant/Owner ratios are high, it is very difficult to get a loan. You have to pay a down payment of 20% or more to get a loan.

So before you go too far and start spending money on inspections and appraisal, have you agent look into the 2 issues I mentioned above to make sure you don't have that problem.

If I can help explain further, you can reach me at 510-279-9580.

Meena Gujral
Help-U-Sell Achievers Realty
510-279-9580
http://www.helpusellachievers.com
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