Is this a bad time to buy a home in the monta vista area in cupertino?

Asked by sam, 94582 Wed Oct 10, 2007

I am looking at homes in the Monta Vista area but am getting conflicting advice regarding the timing of purchase, some suggest I should wait until early jan - feb 08 for prices to ease, but I see no evidence of that happening. What do you suggest?

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23
Brian Fortune, , San Jose, CA
Thu Oct 11, 2007
BEST ANSWER
I suspect the reason you are looking at this area is the school district. If so you are like many others, plus the Monta Vista High catchment is changing which is adding to the demand. So it is unlikely that this area will cool off. Most properties in this area are receiving multiple offers, way above asking and the median price is up over 3% YTD and inventory is very low. If you must move to this area then the best advice is to set your maximum price limit and go for it., but do not get too disapointed if you get outbid. What price range are you looking at?
Web Reference:  http://www.rwwindsor.com
0 votes
Richard Ho, , Saratoga, CA
Sun Jun 3, 2012
If you are looking at flutuation in home prices you would always be erred. Just like buying an Apple share. If you are a home owner always look for the cost of living: renting vs owning- benefits and cost. Tax savings,appreciation, freedom of home owning, good school, great neigborhood........ What if interest rate increased just 1% on a $1 M loan that would cost you $10,000/year of interest or living cost! It is always a good time to own a home in Monta Vista when you can buy one. Do not gaze at your crystal ball and predict when price would drop.....interest rate would have only one direction to go- North!
1 vote
Richard Ho, Agent, San Jose, CA
Tue May 3, 2011
First you have to define why you want to buy a home in Monta Vista area? For your own residence or investment? The strategy and thinking as well as planning are totally different.
As a primary home buyer you need to look into your own requirements and need and when you find a house which meet yours that is the best and highest intangible value many buyers forgot to add. For investors the ROI and other benefits such as tax credit etc.should be key. Anyway a real estate holding always need to be held longer for a few years unlike stocks and need to be treated with planning and advice from experienced advisers. A temporary appraisal valuation change is like a a drop in your wealth bucket. Always re examine the reasons of your purchase and not be distracted by these noises.

Web Reference: http://www.DrHoRealty.com
Web Reference:  http://www.DrHoRealty.com
1 vote
Realtor, ,
Wed Dec 12, 2007
Homes in Cupertino continue to sell no matter what kind of market we're in. Monte Vista is the most sought after area in Cupertino. With prices continuing to rise and multiple offers still in effect, NOW is the time to purchase your home in Cupertino.
1 vote
Chris, , 95037
Thu Oct 11, 2007
You have alot of positives on your side. Buyers market, interest rates are favorable, great location, great schools, plus great resale value. If you qualify for a rate and the numbers work, go for it. You really cannot lose right now. Especially in that area. Can I ask what price range you are working in?
1 vote
Richard Ho, Agent, San Jose, CA
Fri Dec 28, 2012
Why worry?
http://blogs.wsj.com/developments/2012/07/27/housing-isnt-a-…

Great WSJ article. Have you been reading all the other horror stories and have night and daymares?
Indeed the housing upticks in fact any.......are always a lagging indicator of an improving economy. It is pan US that is the elbow of the recovery curve. The shape (speed) of recovery would be localalized- it could be a V or a U for Silicon Valley area. Deserve a careful watch for investors and homeowners (buyers and sellers) however you do not want to be left behind when the recovery tide arrives. Contact me for a complimentary personal session for strategy planning or coaching.
Richard K. Ho, M.D., MBA, Realtor. ePro
License#01407461

Cornerstone Realtors,

6455 Almaden Expwy., Suite 98

San Jose Ca 95120

408-828-0189

Fax 408-649-5212

Please visit: http://www.DrHoRealty.com
0 votes
Michelle Car…, Agent, Coppertino, AL
Fri Dec 28, 2012
Sam, did you end up buying a home? During the holidays can be a good time to buy.
0 votes
Ken Vasan, Agent, Fremonet, CA
Tue May 3, 2011
You can never time your purchase. There is currently enough demand to support 50K above asking to get the deal done. This is signalling the turn around of the market trend. Looking two months from now, I bet you will be paying more for the same house. If you miss this opportunity, you will have to wait for the next down cycle.

I have seen looki lossers who have been going around open houses for the last four years, they were not able to make a decision during hot market nor during the worst of its ttimes. You need a good advise from an agent who can articulate the market trend in various perspective and just not look at the real time dynamics on pricing to make your decision.
Web Reference:  http://www.kenvasan.com
0 votes
shirin zarto…, Agent, cupertino, CA
Tue Aug 26, 2008
Hi Sam,

I am an agent in Cupertino and I suggest you buy a home if you see something you like. Real estate market in Cupertino is very competative. In the last few months I have written 3 offers on properties for my clients with multiple offer situation. We got all of them. All of the above sold over asking price.
0 votes
Amir Shahkar…, Agent, Cupertino, CA
Tue Aug 26, 2008
Get yourself a Cupertino buyer's agent who is 100% full time Realtor. Cupertino is a competition market, not a discount market.

http://www.amirshahkarami.com
http://www.888siliconvalley.com
0 votes
James Peters…, Agent, Los Gatos, CA
Sat Aug 23, 2008
Are you looking to get a good deal? Or are you looking to buy a home? Typically from Sept to mid-Jan is the slowest time in Cupertino (Monta Vista) and people that are selling at that time are typically in a situation that makes them more likely to accept an offer under asking price. Things are starting to turn around in the South Bay and the off season could potentially be the best time to buy for a while. If you are interested in a larger home in the $1.5 mil range that presents a great deal I know of a family that may be willing to sell at a great bargain. james@wbreal.com
0 votes
Nina Daruwal…, Agent, Cupertino, CA
Fri Aug 22, 2008
Sam,
Its Aug 08, have you bought your home yet? It is hard to find a home in the Monta Vista area for $1.1; but perhaps we can find you a fixer-upper. If you don't buy now, same thing next year will be higher in price!
There are other options, i have a Townhome with MV, in a great neighborhood within that price!
Pls check out my website at: http://www.ninadaruwalla.com ; and call me, lets talk real estate.
Be well and safe, regards,
Nina
Web Reference:  http://www.ninadaruwalla.com
0 votes
Grace Keng, Agent, Santa Clara, CA
Fri Aug 22, 2008
Sam,
Did you purchase the home yet? Now is great time to buy. You need to talk to a lender to get pre-approved.
Good luck!
Web Reference:  http://gracekeng.com
0 votes
Sam Shueh, , San Jose, CA
Wed Aug 20, 2008
As long as there is enough high paid workers in the Valley they flock to better areas such as MV. Wait for price to drop? Last time it was 2001-2 when 150,000 workers lost their jobs. But it is 2008 do you hear a repeat?
If you don't make a full or price offer right away, the house is someone else quickly. Sam Shueh
0 votes
Peter, Both Buyer And Seller, California
Sat Jul 26, 2008
Thanks Grace! Is there a similar study for East Bay?
0 votes
Grace Keng, Agent, Santa Clara, CA
Fri Jul 11, 2008
Sam,
Do you see today's San Jose Mercury News?
http://www.mercurynews.com/realestatenews/ci_9850283
Cupertino is one of the expensive cities. The overall value up 8.3% from April 2007 to now July 2008.
Let me give you two Monta Vista area home in Cupertino:
03/17/2006 11613 BRIDGE PARK CT, CUPERTINO 95014 (Cupertino)
sold for $1,288,000 Beds: 3 bed(s) Baths: 2 1/2 bath(s) 1956 sf
4/22/08 11741 SIERRA SPRING CT, Cupertino 95014 (Cupertino)
sold for $1,310,000 Beds: 4 bed(s) Baths: 3 bath(s) sf 1937 sf
You may ask with all the bad news, how come the home price is still grow.

The good schools area homes (expenisve home) are doing well. If you can find a home
you like then just go for it. I am going to have an open house Sat 7/12/08 1:30 - 4:30 PM
7874 MCCLELLAN RD Cupertino @ Monta Vista area only $635K. You may come to see the home.
If you have question, you may contact me also.

Grace Keng,CRS
0 votes
Nina Daruwal…, Agent, Cupertino, CA
Wed Jul 2, 2008
Dear Sam,
Have you bought a home in Cupertino-Monta Vista area yet? There is never a bad time to buy in this area...NOW is a good time as any as the prices here will never go down. The longer you wait the more you will pay. If you are ready to BUY, do it now, prices go up all the time.
I am a full time Realtor in Cupertino, CA. I work with Buyers and Sellers both. I live in Cupertino, and work at Coldwell Banker in Cupertino, know my City inside out....and can help you from start to finish and beyond in finding an appropriate home according to your personal needs. I work with a team of Lenders, Title company, transactions coordinator and vendors. Do call me on 408-7773823, if after what I have to say does not meet your needs, I will wish you well, and part as friends. Most of my business is By Referral and this is a good way to work.
Have a great day and 4th of July weekend! Regards,
Nina Daruwalla
0 votes
Guru Toor, , Cupertino, CA
Wed Apr 16, 2008
Sam, It is never a bad time in Cupertino. Here is what you need to answer your self, firstly what is ur Aim, what is your Motivation in particular for Cupertino, what are your Needs that generate your search criteria, and what is the time horizan you looking at this would also relate to the first question, your aim.
Buying Real Estate is all about a simple strategy "Buy and Hold" it is about "Timing in the Market (Number of Years) and NOT trying to Time the Market (Market Graph)' .You decide, if it is a good not so good or bad time.
There is enough negativity in the News Media, let not that distract you, Do not hesitate to consult with a good real estate professional
http://www.GuruToor.com
0 votes
Ken Vasan, Agent, Fremonet, CA
Tue Feb 26, 2008
Sri, If you look at the sales history, you will notice that rediculous over bidding is going on still. I really doubt if this trend is goin to change looking at the number of visitors in open houses. There are not that many choices under 1.1 Mill in Monta Vista area.
0 votes
Amir Shahkar…, Agent, Cupertino, CA
Fri Oct 12, 2007
Monta Vista area is real hot. Are you looking at buying a single family residence or a condo / town home?

http://www.888siliconValley.com
http://www.siliconValleyPropertySearch.com
http://www.realtorAmir.com
0 votes
sam, Home Buyer, 94582
Thu Oct 11, 2007
Thanks everyone for yr answers. Chris,
I am looking in the $800K to $1mil range.
0 votes
Infinity Rea…, , Saratoga, CA
Thu Oct 11, 2007
I agree with Brian on this one. This is one of those Markets that will not slow dowm. Waiting till next year means, betting that interest rates will stay at there current rates. You dont want to get into that rate guessing game. 30 year fixed rates are still at 35 year lows, and favorable. Take advantage of buying in a winter market where some buyers are skeptical about relocating children during school year.
0 votes
The Hagley G…, Agent, Pleasanton, CA
Wed Oct 10, 2007
Have you found a home you love? If so, why wait. Trying to "time the market" will do nothing but drive you nuts. Keep in mind that prices are low....they may already be at the bottem...and interest rates are very favorable. Why wait? It's the single best investment you can make. It's a great time to buy. Go for it!
Web Reference:  http://www.cindihagley.com
0 votes
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