Home Buying in Sunnyvale>Question Details

testtesttest…, Home Buyer in Sunnyvale, CA

Is 37 degree north overpriced with a 790K starting price tag? If it is overpriced what are the other top recommended options for new homes

Asked by testtesttest123, Sunnyvale, CA Sun Feb 24, 2013

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Thanks for the helpful responses. I am curious that if the demand is high is there any point negotiating and is there a benefit a real estate agent might bring with him for new homes.
0 votes Thank Flag Link Mon Feb 25, 2013
You can only negotiate if you know where you can find some room for negotiation. Then, having a real estate broker assist you in giving guidance on what to ask from the builder would make a big difference. Plus, you get the professional review and advice of an experience real estate broker to help you review all the contract documents with you. That's a big help if you're not familiar with 50-60 pages of non-standard contract terms.
Flag Wed Feb 27, 2013
Price is determined by supply and demand.
0 votes Thank Flag Link Mon Feb 25, 2013
A high price doesn't mean a property is overpriced. In high priced Bay Area, that is almost always the case, especially in today's hot market where lotteries and overbids are common.

As Marcy mentioned, prices for homes in Sunnyvale are typically in that range. If you can take an old home, you might be able to save $100K. Then again, if you moved up further on the peninsula, you can also pay $200-400K more for the same home.

Real estate is all about the location.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Mon Feb 25, 2013
790K is not overpriced in this market. The fact that they need to have a lottery to sell the homes because so many more buyers want them than there are home to sell tells you something about this market.
Resale town homes are selling over $800,000 in Sunnyvale, and there are very few other options for new homes in Mountain View or Sunnyvale. There are some new developments in the works including one in Mountain View at the intersection of Middlefield and Old Middlefield, but prices have not been released yet. There will be a new release of Taylor Morrison Homes in Willow Glen in mid march. The first release prices are from the mid 600K to mis 700K range I believe. There are some new homes in Evergreen in the high 600K range, but they are being sold by lottery as well. At the lottery last Sat there were 4 homes and 30 buyers. There was also a lottery for new town homes in Milpitas in the mid to high 600K range, but in that case there were many more buyers than 30 for the first release, but I do not know the exact number.

You may have better luck finding a home for less than 790K if you go further south, and a resale, not a new home.

Marcy Moyer
Keller Williams Realty
DRE 01191194
Web Reference: http://www.marcymoyer.com
0 votes Thank Flag Link Sun Feb 24, 2013
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