What do people think about buying Town-home style condo at 37 Degree North?

Asked by catpawer, 94085 Sun Aug 19, 2012

The price seems quite high compare to others in the area yet people line up for their drawing, can anybody provide any insight or information that I might not be aware of?

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4
Diane Drewke, Agent, Saratoga, CA
Sun Aug 19, 2012
BEST ANSWER
New homes are usually at a premium over older homes.
Updated is at a premium.
2 car garages side by side are preferred by most people to tandem garages.
It is a builder with a good track record.
Floor plans where you do not have to climb stairs to bring up groceries are a premium.
Quality of materials will have an impact.
Amount of light and location will impact price.
Amount of noise.
Also at this point time we are and have been at extreme lows for the number of condos on the market. They are getting snapped up as soon as they are being built.

One thing that most people do not seem to realize is that agents are to help you understand these things. Compare prices, negotiate for you and protect your interests.

Most builders cooperate with real estate agents. This means that as long as you bring your agent or arrangements are made before you see the property or sign in the builder will compensate the agent. You may think you will get a better price because the builder will not have to split it with the agent but this is not the case. In many cases the agent will help negotiate a better price or possilby some upgrades you would not have the leverage to do yourself.

The other thing an agent should do for you is help you understand the paperwork and get information about the homeowners association to make sure you are in a good one. There are quite a few condo associations out there that are in litigation with a builder. Real Estate agents know the questions to ask to try to make sure you are making a good decision for YOU.

Good luck!
Web Reference:  http://www.drewketeam.com
1 vote
Juliana Lee, Agent, Palo Alto, CA
Sun Aug 19, 2012
Homes sell to those who value them the most. There are currently only 3 condos listed for sale on the MLS in Sunnyvale which have 1700 sf or more. The most recent was built in 2006, the other two in the early 90's. The newest is the most expensive at $698,000. The other two at $665,000 and $668,000. Plan 1 is listed at $690,000 and has about 1750 sf.

Looking only at these numbers, the prices asked by 37 Degree North are quite reasonable.

Perhaps there is something about this development that you don't like but doesn't affect the people lining up. Work with an agent who can help you find what you want and save you a lot of time searching and making offers which won't be accepted by the seller. It will generally take significant time and effort for a buyer to understand sales prices without the help of an experienced agent. Condo prices have risen dramatically in the last six months. Take a look at the Sunnyvale Condo real estate statistics on the last half of the web page
http://www.julianalee.com/sunnyvale/sunnyvale-statistics.htm

If searching on Trulia isn't giving you the view you want, try:
http://www.silicon-valley-homes-for-sale.com/search/
Web Reference:  http://www.julianalee.com
0 votes
Hi Juliana,

Thank you for the information. I might not have worded my questions fully when I first posted it. What I am more concern about are the houses around 37 Degrees North which are valued around 450-500k and can impact the resell value later on.
Flag Sun Aug 19, 2012
Tina Lam, Agent, San Jose, CA
Sun Aug 19, 2012
What are you comparing them to? I'm not aware of any similar homes in the area for less, unless you buy small units like at Fusion.
Web Reference:  http://www.archershomes.com
0 votes
Hi Tina,

I am referring to other homes around 37 Degrees North. When I pull up zillow and see the recent sold and zillow-estimate within 5-8 miles, majority of the homes are around 470-500k price range, granted they are much older homes. Just worry that spending over 700k on a condo in an area where prices are around 500k can be a problem later on when I need to sell it.
Flag Sun Aug 19, 2012
Robert Lei, Agent, Cupertino, CA
Sun Aug 19, 2012
Why the high prices?
People like brand new homes.
People like the convenient location close to their workplace.

Prices in general are going up in Silicon Valley. If I take any existing townhome style condo complex and show you the data, you'll see a dramatic increase in prices.

Call me or one of the other agents to accompany you on your first visit. New homes are different from existing homes. The commission comes from a separate marketing budget, thus you get our services for "free". With new homes you have a lot to gain and nothing to lose by having one of us bring you in.

Robert Lei
(408) 893-2410
0 votes
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