Where to buy affordable house in San Jose?

Asked by curiousfan, San Jose, CA Thu Jul 25, 2013

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7
Juliana Lee, Agent, Palo Alto, CA
Fri Jul 26, 2013
In general there are two different ways to find a more affordable house: look in areas further from jobs, look at homes which need work or have limitations that you can accept.

If you look at the neighborhood home values you'll see that the south end of San Jose has a few areas with lower average prices.

http://julianalee.com/san-jose/alum-rock-statistics.htm
http://julianalee.com/san-jose/south-san-jose-statistics.htm

Juliana Lee
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Cell 650-857-1000

Over 20 years experience
Over 1,000 homes sold in Santa Clara County and San Mateo County
.
Web Reference:  http://julianalee.com
0 votes
Gregorio Den…, , San Diego, CA
Thu Jul 25, 2013
You need to define "affordable." Actually, you should get with a good mortgage broker to help you define what is affordable and that will guide you in your choices. Don't rely on an agent to tell you what you can or cannot afford and don't start looking for properties until you know the answer.
0 votes
David Sciplin, Agent, San Jose, CA
Thu Jul 25, 2013
The very first question to ask is have you determined what you can afford? I work with many first time home buyers and have lenders that will sit with you to find answers to that question. First things first.

Being a successful home buyer takes time and knowledge. I have the time and I'll give you the knowledge.

Contact me if you'd like my assistance.

David Sciplin
Coldwell Banker Residential Brokerage
DRE# 01477066
408-647-6326
david.sciplin@cbnorcal.com
Web Reference:  http://www.davidsciplin.com
0 votes
Richard Matu…, Agent, San Jose, CA
Thu Jul 25, 2013
Hi Curiousfan

I was born and raised in San Jose and have seen a lot of changes in the real market. Your is a good one and every Realtor should know where are the best affordable properties are located. What is your opinion what the affordable price is for you to buy.
Before you start looking at homes you should get pre-approved for loan with a good lender who has a lot of good programs.
If you have any additional questions please call me at 1-408-371-0700 ext 301 or 1-408-489-0700.

Regards
Richard G.Matusich Realtor/President/CDPE
Richard G.Matusich and Associates Realtors Inc
2940 Union Ave #B
San Jose,Ca.
1-408-371-0700
1-408-371-7393 fax
e mail richardmatusich@gmail.com
0 votes
Grace Hanamo…, Agent, Cupertino, CA
Thu Jul 25, 2013
Hi Curious:

Unfortunately, adjectives such as "affordable", "value", "good", "quality" and "spacious" are terms that have specific meanings to specific people. What is "affordable" to the average second time home buyer is often completely "UN-affordable" to the first time home buyer. Thus, we'd need a lot more information to help you.

More often than not, when a potential home buyer asks for "affordable" housing, they really one or more of the following:

- housing in a more desired neighborhood, but the seller is desperate to sell;
- a home that is discounted because of condition, but, if "shined up" could be worth substantially more due to the value of the other homes in the area;
- a home that I can negotiate the pricing on (i.e. get for less than the list price)
- a property that I can flip and pocket a quick profit

Truth is, Curious, right now, we just don't have any of these types of property in San Jose or the county. You can certainly find homes prices in the low $400,000s available in San Jose, but this is about the price in that area or the investment to bring the home to a livable condition is likely to exceed its market value. In fact, there are so few homes on the market in most cities, that buyers are scrambling for housing. While the market is waning every so unperceptively as the summer comes to a close, I can tell you from personal experience, that we're still looking at multiple offers FAR over the asking price for even the most "dog eared" home in desirable areas.

So if "affordable" means buying a home in a good area for less than the going rate of other homes, then there aren't any affordable homes in Santa Clara County just yet. And, unfortunately, I'm not certain that there will likely be similarly "affordable" homes in the near future. The best advice...don't wait. I've had a couple of clients do that for the past two years, and they wish (now) that they had taken my advice and bought the "almost perfect" home versus waiting for the affordable and impossible bargain when prices fell again.

Good luck!!
Grace Morioka
Allison James Estates & Homes
Buyer Rebates of 50% of Buyer Agent Commission & Low Cost Listings to Sellers
Tel (408) 426-1616
0 votes
Roland Barcos, Agent, San Jose, CA
Thu Jul 25, 2013
Hi Curiousfan,
As Terri inferred, this is a wide-open question and any good Realtor would begin by asking a number of relevant questions to help you better define your goals and focus on your needs. Please contact me if you want to talk about your specific goals.

Thanks,

Roland Barcos
Alain Pinel Realtors
#01457313
408-209-0555
rbarcos@apr.com
0 votes
Terri Vellios, Agent, Campbell, CA
Thu Jul 25, 2013
What is affordable to you? What do you need? How are you paying? How much can you afford?
Web Reference:  http://www.TerriVellios.com
0 votes
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