Milpitas (95035) pricing

Asked by Tanya, Mon Jun 16, 2008

I am considering buying a home in 95035 area. Do you think the price in this area is going to fall further ?

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Randy, Both Buyer And Seller, California
Mon Jun 16, 2008
They may, they may not. I can provide you several reasons why they would fall as easy as I can provide you several reasons as why they will stay the same, and maybe even a few reasons as why they will start going up. What you really need to do is analyze your situation. Are you buying to live in or are you buying for investment purpose? Are you going to buy and hold, or try to flip the property? If you buy right now, your chances are very high that whatever you buy will be worth a lot more 7 years from now. So, how long do you plan on holding the property? If you wait 6 months to buy, then you might lose the property you really wanted for a gamble of a few thousand dollars. Offer a seller what you think the property is worth, and then negociate with them to see if you can agree on a price that works for both of you. The most important thing is to buy a property that you can truly afford.....and be wary of people that say 'yes! prices will fall' or 'no! prices will not fall'. Do your own research and make your own conclusions. If you buy something you like and prices fall a bit more, at least you are happy with what you have, and prices will eventually turn around. if you end up buying something that you aren't too happy with just so you can say that you got a killer deal, then there is no one else to blame but yourself everytime you walk into your unhappy 'home'.
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Erica Glessi…, Agent, San Jose, CA
Fri Sep 12, 2008
When the market hits "bottom" you only know this because it has already come back up some. Then you look back and say "oh! That was the bottom." When we were going up and up and up, we were listing homes in Milpitas at $675K and getting $725K on multiple offers for the 1500-SF Parktown models. Then it went even higher, and no one really knew when it would "peak" until suddenly everyone looked around and it had dropped or stopped.

So many factors drive these market changes and shifts, and predictions are never certain. I would say my clients who buy because they want to stay in a home are always happy with the purchase -- no matter the conditions at the time of purchase -- because they love where they live; it fits their lifestyle; they are happy with the schools or the commute.

I would say that no matter when you buy, choose a location that is as desirable as you can afford. I showed condos last weekend and the grown son said things like "i would choose that model because a fridge and washer dryer are included." I would suggest you try to overlook easy cosmetic things like paint and look for excellence in location; good floor plan; lots of light; and then if you are moving into an area that has one predominant culture, be aware of the nuances of that culture. Some cultures like east facing or south facing or don't want to live on a T. So be aware of those things because that will influence your ability to sell in the future.

Good luck!

Erica Nelson
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