we are looking at new townhomes near hillsdale ave san Jose, the property name is Terraza

Asked by Buyer01, 95136 Sat Jul 7, 2012

We are looking at 2BR 2.5 Bath. Need advise on the property and the area. The asking price is 422k

Help the community by answering this question:

+ web reference
Web reference:

Answers

10
Mike, Home Buyer, San Jose, CA
Wed Dec 26, 2012
I'm curious to know of anyone who closed on this property. I was one of the original buyers and was kicked out by Victoria (the selling agent) for no reason so they could sell to another buyer at a higher price. I had passed all the qualification hurdles too. In my opinion, they just used me to get funding and kept delaying things. They were supposed to close in September but people didn't start moving in until December. I would ask very simple questions and Victoria would give me a huge slap on the wrist each time. I found her to be very hard to work with.

Anyone move in yet?
1 vote
Grace Hanamo…, Agent, Cupertino, CA
Sat Jul 7, 2012
Hi Buyer01 and thanks for your post.

Terraza, as Terri pointed out below, is currently in the process of getting enough buyers to truly "open" the community for sales. Right now, their goal is to work with unrepresented buyers (those without agents). There's actually two purposes for this, one is that the developer needs a specific number of "reservations" on sales in order to obtain the funding from lenders and the second is that the reservations also constitute enough interest for the developer to obtain further construction loans to finish the phase of the project.

So if you're interested, either wait and see the property with your sales agent, or work with the current sales staff to negotiate a deal. As Terri pointed out, the important thing to review if the CC&Rs and the rules and regulations of the community to see if you can live with the restrictions. This is especially important because the developer, who will comprise the majority of the Board of Directors, will rigorously uphold the rules in order to ensure continued sales within the community. If, for example, the maximum number of cars allowed on the property is two, and you have three cars, this community may not be the best fit for your family if there is not street parking available for the third car. So find a community that both meets your budget and your lifestyle!

Good luck!

Sincerely,
Grace Morioka
Area Pro Realty-People's Choice
1 vote
Thank You. i did see the place but i felt the HOA was a bit high and only 4 quest parking. They never told me thst the construction was going for years. Do you think this townhome will appreciate from 420K in next 3-5 years?
Flag Sat Jul 7, 2012
Terri Vellios, Agent, Campbell, CA
Sat Jul 7, 2012
Hi Buyer01,

Since one of my specialties is helping Buyers with new construction I toured those town homes a couple weeks ago. The community sales person was to call me back but didn't. They are doing what is a "soft opening". Their objective is to sell without cooperating with other Brokers at this time.

The price at $422,000 looks good for the area. What you will want to look at is what do the CC&R's say, what are the expected HOA fees, What's covered and who will manage them. Those town homes were left in a state of flux for years. I believe they went into foreclosure then the current owner took over. They were boarded up. I highly recommend you get your own property inspector to inspect the unit to make sure it was build properly and see if there are any signs of mold.

What I discovered was how difficult it was to turn a car around in the driveway. What will that be like once all are sold and home owners drive in and out of their garages. Also what is the guest parking like.

Have an amazing day!
Web Reference:  http://www.terrivellios.com
1 vote
HOA is $250 and the guest parking is very limited. they have only 4 guest parking. Do you think this townhome will appreciate?
Flag Sat Jul 7, 2012
Anna Boyko, Home Owner, 95136
Thu Sep 6, 2012
Buyer01, it is sad that only BROKERS answered your questions. If I were you I would rather asked people living around of their opinion.
My husband and I 6 months ago bought a 3bdr 2.5bths almost 1700 sq. feet condo at the very top of the hill for $435K. Condo fees are $152 per month. Yes, it was not a brand new, but the condition was perfect, the location is to dream of (like you are on board of 767), and what was the most important is that the area is so quiet there.
Now, Terraza is a brand new property, great. But location just sucks. Noisy (because of Hillsdale Ave, it is very noisy even during the day time), no real space or privacy whatsoever, no view, nothing. May be this is what you want, but I would suggest to shop at the top of the hill first. You will be very surprised what you could get there for the same amount of money.
Forgot to mention, the location is good as long as you are young, do not have kids or elderly people in house, like we. Otherwise it is a headache, 3+ store buildings with stairs, no backyards, etc. Keep it in mind.
0 votes
Oh, I also forgot to mention in case you decide to buy that condo you have to put 20% down. Otherwise you will not get a mortgage insurance, they consider this area very risky. For many reasons. One of the reasons is that there are too many pre- and foreclosures, way TOO many. IMHO this area beautiful (when you are at the top of the hill of course), but way overpriced at the same time. And several years ago brokers, trying to sell those properties for whatever it takes, played a huge role in nowadays foreclosures.
Flag Thu Sep 6, 2012
Venus Lui, Home Buyer, San Jose, CA
Sun Aug 26, 2012
We are looking to buy in this community as well, 2 br 2.5 bath @ $425 K, please let us know did you end up buying? Many thanks!
0 votes
We give you back 55% of our commission

Click the following URL to see the CMA:
http://matrix.mlslistings.com/Matrix/Public/EmailCMA.aspx?ID=25578504

Dr. Ken Kapur, Broker 408-691-4469
Flag Mon Aug 27, 2012
Ruth and Per…, Agent, Los Gatos, CA
Fri Jul 13, 2012
Hi Buyer01

The price is too good.

It is so, to generate multiple offers.

Good luck, and let us know if you need help to put in a "winning bid".

Perry
0 votes
charles butt…, Agent, san jose, CA
Sun Jul 8, 2012
Thank you for your question:

In my opinion, $422,000 for a 2 bedroom, 2 and 1/2 bathroom unit in that location is a very low price for new construction in that location, I consider that to be a very good buy.

I recommend that you read the comments by Terri Velios and Grace Morioka in particular with respect to the difficulty with turning around in the driveway, guest parking, the CC&Rs and the issue that these units were boarded up for a time.

I definitely agree with Terri Velios that a good property inspection and mold inspection are in order. That is particularly true where these units were begun, then stopped and boarded up. Ask the property inspector to specifically look for problems that may have been caused by the delay in finishing out these properties. .
0 votes
Lamson Dang…, Agent, San Jose, CA
Sun Jul 8, 2012
Yes, it is a good buy during this market. If you analyze the rate of Existing Home Sales, Notice of Defaults, New Home Building Permits, Foreclosure Sales and Interest Rates, you will make your buying decision a lot faster.

Best!

Lamson Dang
http://lamsondang.com
Web Reference:  http://lamsondang.com
0 votes
Buyer01, Home Buyer, 95136
Sat Jul 7, 2012
The HOA is $250. Can any one tell me if this is good buy and will it appreciate in next few years?
0 votes
Stu Carson, Agent, San Jose, CA
Sat Jul 7, 2012
I'd be happy to talk with you further by phone, but it appears to me these home are only available to rent. See their website here
http://www.liveatalliance.com/LaTerraza/index.aspx

I could find nothing on the MLS past or present on Terazza. I did find a couple homes on Terazzo, one pending at $475k and one active at $699k

What are you looking to do? I could find nothing at $422k.

Stu
408-209-0849
Stu@StuCarson.com
http://www.JustMyProperties.com
0 votes
It is not La Terraza, it is terraza new townhomes at hillsdale ave, san jose.
Flag Sat Jul 7, 2012
Search Advice
Search
Ask our community a question

Email me when…

Learn more