Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Mountain View : Real Estate Advice

  • All242
  • Local Info24
  • Home Buying116
  • Home Selling14
  • Market Conditions10

Activity 295
Sun Jul 7, 2013
Marcy Moyer answered:
Douglass.
According to county records the price was not disclosed so it is not clear where realtor.com and zillow got their info. The MLS says 1.87

Either the seller or the buyer or both asked the county to to disclose the sales price and there is no way to know if what the agent put into mls is correct or not.

After the home is re-assessed for property taxes you will be able to get the true price by seeing what the property taxes are based on. The taxes are based on the sales price and even though the records will say sales price is not disclosed the value the taxes are based on will be on the records. Sometimes it takes 6 months for that to happen.

Marcy Moyer
Keller Williams Realty Palo Alto
marcy@marcymoyer.com
DRE 01191194
650-619-9285
... more
0 votes 6 answers Share Flag
Fri Jun 21, 2013
Douglass Mcneil answered:
Thanks Aileen. I did notice all those new homes (West of El Camino) on the market this week (there's also 2404 Villa Nueva and 943 Rincon)...at least this week, the inventory looks pretty good!

My sense is that the Bonita, Leona, Villa Nueva, and Rincon are a bit overpriced -- or will sell closer to ask. There isn't a LASD premium for these homes. Although Bonita is a nice home, people will discount based on the lot size. Leona and Villa Nueva are priced at $869/SF and $847/SF, respectively...so I don't expect significant overbidding. I am surprised to see Rincon priced so high, given that the home on Valencia sat on the market for for 50 days and subsequently withdrawn.
... more
0 votes 10 answers Share Flag
Fri Jun 7, 2013
Douglass Mcneil answered:
These last few homes in the neighborhood don't appear to be selling...perhaps they were overpriced after all? Or perhaps the market is slowing down overall (e.g., increase in interest rates)?

- 101 MANSFIELD Dr
- 2742 SAINT GILES Ln
- 2746 SAINT GILES Ln
... more
0 votes 10 answers Share Flag
Thu Jun 6, 2013
John Walin answered:
Thats the prob with 2nd liens, they hold a lot of power, can change there minds up to closing day! first, is the seller compliant with the bank doc requirements? Too often I have seen sellers faking compliance with bank in order to stall the process and live there for free as long as they can. ... more
0 votes 4 answers Share Flag
Mon Jun 3, 2013
Aileen La Bouff answered:
Hi Douglass,
Your summary is fairly accurate.
I think there's upside potential in most areas of Mountain View, but I, too, choose to live on the western side of El Camino.
Downtown is almost always very popular, but once again, the lots can be a bit of a challenge. We chose the outskirts of Cuesta Park, just a couple of blocks from Downtown, and have a 7700 sq ft lot which has coped well with a doubling of the original home. Many of our neighbors have taken similar steps.
It's also true that many of the homes/lots tend to be a little more compact, but there are many, many families who choose to live in Cuesta Park for the community feel.

When looking in Waverly Park, it's important to be aware of the effects of road noise from 85. It affects a number of the streets along that south-sw corridor. The Enclave certainly has its affect in that location - many of those homes sold for well over $2.25mill, particularly with the 'options' that are always so very tempting in new homes. Those lots are mostly 10,000 sq ft or more, but often the houses sprawl across a lot of that space.

Blossom Valley is a great choice, but on the eastern side of Cuesta Drive it actually becomes Varsity Park. Once again, smaller lots and generally smaller homes, but pricing is bolstered by the Los Altos Schools. One thing to bear in mind is that the Los Altos School District has applied to adjust their boundaries so that Mountain View takes back many of its residents. So far, this is mostly intended to affect the areas around Showers Drive etc., but I think the subject will bear watching as it unfolds.

The one area that Is quite a bit less desirable than many of these areas is Castro City - just along the Palo Alto side of Rengstorff, bounded by California St and Central Expwy. While there have been noteable improvments over that past 10 yrs, there are still a number of tiny, tiny homes on tiny, tiny lots...3,000 sq ft or so! Many of these aren't well maintained, so the upside might take some time, and a few brave investors.

It's a complex little city, isn't it? Possibly looking over some historical data might help in assessing just where the best returns might be. I'm happy to help, if you wish.

Cheers,
Aileen
... more
0 votes 6 answers Share Flag
Mon May 6, 2013
Marcy Moyer answered:
Lb,
Here are a few suggestions:

1. What is your sales record in the area?
2. What are your working hours?
3. How do you communicate? ie phone, email, text, facebook?
4. Do you answer your own phone?
5. After I sign the listing do you handle the daily activities of selling my home or do you have assistants that do the work?
6. How will you market my home? Internet, open houses, broker tours, single property web site, eblasts, fliers, etc?
7. What is your preferred pricing strategy? High, low, at market?
8. What are my selling expenses? title, escrow, transfer taxes, hoa fees, etc?
9. Do you like my home? What do you think the positive and negative attributes are? How will you enhance the positives and make the most of the negatives?
10. How long have you been in business?

There are probably more but these are a good start.

Marcy Moyer
Keller Williams Realty Palo Alto
marcy@marcymoyer.com
DRE 01191194
650-619-9285
... more
1 vote 11 answers Share Flag
Tue Apr 30, 2013
Lb answered:
I am sure a lot of agents might say it is feasible. I would say, come here, take your time to find what you like before you buy
It is a big decision and it involves big dollars.
0 votes 9 answers Share Flag
Sun Apr 28, 2013
Josephine brak answered:
Not really. Disadvantages living too close to the school include, traffic, crazy drivers, congestion.
0 votes 6 answers Share Flag
Fri Apr 26, 2013
Lb answered:
Praveen,

Of course it all depends on your situation and it is always good to base your decision upon facts.

Here's some information and some numbers to give a general idea.

1. If you want to invest in Mountain View, the best bet is to invest in a newer townhouse. When I say invest, I mean buy and then put it for rent. The reason is that tenants tend to like newer modern places to live.
2. To me, single family homes in mountain view don't make sense to buy or rent. If you really aren't getting a nice backyard, what's the point? Most of the single family homes in mountain view have relatively small backyards. When I lived there 5 years, I was completely fine NOT having a backyard. I knew my reasons to be in Mt View were being close to work, and that I just like Mt View feel. for info, I lived in the whisman area

Numbers
1. Let's say you buy a condo in whisman that is about 1200-1400 sq ft. It will cost you closer to 850k. I am not kidding.
Look at the last townhome sold in that area for 819 last month
http://www.trulia.com/homes/California/Mountain_View/sold/27300909-178-Stockwell-Dr-MOUNTAIN-VIEW-CA-94043
If you wait another month or two, it might be closer to 875k and will probably peak at 900k in my opinion.
Even if you buy at 850, lets play with the numbers assuming reasonable conditions

1. You need 170k down. Do you have that much?
2. The best rate you might get for a 3% (15 year loan). I don't believe in 30 year loans. To me those don't make sense. I am assuming you are mid 30s, you have an idea where you might be at 45, not at 60. That to me just doesn't make sense.
3. Your HOA will be about 250$ or so and property taxes about 8500$.
4. Total expenses, 4695.96 for mortgage, about 700$ for taxes, 250 for HOA =
5645.
5. You can easily rent that place for about 3400-3700 a month. Assuming the 3600 or so, you still need to put in 2000 a month.
Overall, you put in 170k cash and then on top put in 2k a month, for what?

Well, at the end of 15 years, the property is yours. Willing to make an investment for the next 15 years where total cost to you (530k which is 170k cash and 360k in keeping the property)
At 45 or so, you will now make 3500 or so every month.. GREAT

Scenario 2
You still put in 170k, but get a 30 yrs loan, your payment is 2866.91, total cost is 2866.91 + 700 + 250 = 3816. You will make most of that from rent. In short, you put in 170k and another 100-200 a month to buy a property. This is the scenario where ppl say someone else is making your payments.
This might be great for some people. I don't really like this. Why?
because, the property really isn't mine until I am 60-65. Not sure what that means. I can't see that far out.
The only way this sort of thing makes sense for me is I understand fully that I am taking a chance.

I pay 20% down, I own the property, someone else pays the mortgage.
Somewhere along the line, when property is up 30-40%, I sell it.

Then there are other factors, maybe you just keep the property so it is a source of income when you retire and can pay for things like kids marriage, college, etc.

I am just throwing this info out there so you consider everything before you buy.

BTW, I own a property in mt view area and plan to keep it as a rental property until I get at least 10% compound rate of return. I am fine just thinking I bought this for my kids if I get less than that.

Also, 10% might sound low, but don't expend a much higher rate on properties in a long term cycle. A daly city house bought for 108k in 1978 sold for 600 or so recently, that is only 5% rate annually.
Whisman station houses are about 20-25% up from their value 7 yrs ago. (around 3% rate annually) from a long term perspective.
Only think of houses as a quick money making machine if you plan to sell within 1-2 yrs when it goes up and it (might be) at the peak

Hope this helps
... more
1 vote 10 answers Share Flag
Mon Apr 8, 2013
Sophie Luu answered:
Hi Denise,
There are indeed very few good foreclosures now. Nevertheless, we search All good deals in this market, not only but including of foreclosures. You are not going to miss any, as long as you are not giving up to search good chances. Of course, you need to be financially very strong to catch the good ones. ... more
0 votes 8 answers Share Flag
Mon Apr 1, 2013
Juliana Lee answered:
I would also say around $2,000. A client's daughter recently looked in that area. Google has hired quite a few new employees and although rentals are available, they are being taken. There may be a bubble of additional pressure from young recent hires.

I don't know if you have or are in a position to consider buying. With the low interest rates buying can be a very good choice. Not only is your payment less, but more total dollars go towards equity at the beginning of the loan. Look at the equity vs time vs interest rate at
http://julianalee.com/reinfo/mortgage.htm

Juliana Lee
650-857-1000
Top 2 agent nationwide at Keller Williams Realty

Over 30 years experience
Over 1,000 homes sold in Santa Clara and San Mateo counties
... more
0 votes 4 answers Share Flag
Mon Apr 1, 2013
Juliana Lee answered:
Top agents don't change what they try to accomplish just because the market favors buyers or sellers. They always strive to achieve great results for their client. There is always a learning phase where the agent learns your needs, abilities, and preferences. Similarly you need to be brought up to speed understanding the market for what you want, and to develop sufficient trust in your agent's advice. You will not have the expertise a top agent has for evaluating a property.

"Be willing to see the place ..." hmmm, yes there are neighborhoods and houses (some houses which I've sold more than once in my 30 years) that I could evaluate because I've recently seen them but making an good offer isn't just running recent a recent sold history and sending an offer to the listing agent.

There is more to buying a house than just finding one and making an offer on it. Everyone can play baseball but professionals win the competition.

It is easy to see trends:
http://julianalee.com/portola-valley/portola-valley-statistics.htm
http://julianalee.com/saratoga/saratoga-statistics.htm

The key to understanding is making and listening to hundreds of purchase offers each year, talking with buyers at open houses, working with people who really want to buy the best house they can get, ....

Give me a call or send me an email. Let's talk.

Juliana Lee, MBA LLB
cell: 650-857-1000, email: homes@JulianaLee.com
Top 2 agent nationwide at Keller Williams Realty

Over 30 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties
.
... more
0 votes 8 answers Share Flag
Sun Mar 31, 2013
Juliana Lee answered:
City $3.30 per $1000, paid 50/50
County $1.10 per $1,000 paid by seller

Two sites for information:
http://www.dirtlawyer.com/ttax.html
https://www.ortconline.com/web1/ProductsServices/InformationServices/WhoPays.aspx?sid=

Besides expected expenses there are often questions about things such as fences not being on the property line. See http://julianalee.com/reinfo/property-ownership.htm

Juliana Lee
650-857-1000
Top 2 agent nationwide at Keller Williams Realty

Over 30 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties
.,
... more
0 votes 5 answers Share Flag
Sat Mar 23, 2013
Russ Ravary answered:
Talk to your loan officer they will be able to accurately tell you that after they look at your credit
0 votes 1 answer Share Flag
Tue Mar 5, 2013
Jin Chen answered:
Hi Kjro, welcome to Mountain View. I am a proud resident myself for 19+ years and growing. Rents are really up in the past two years. For your budget, you should be able to get a very nice 1/1. For 2/2, it's running up to $2,700. but really depends on what environment, amenities and locations the complex can offer. If you like the conveniences, apartments close to downtown Castro St, are pretty desirable and offers all kinds of perks. You will be surrounded with restaurants, shops, parks, library, City Hall, Performing Center and CAL train station too. Downtown restaurants, Cafes and bars are actually major network environment for Tech companies. Welcome and good luck!
I offer guidance and consulting in home purchases. At your service when you are ready! 650-207-1421.
... more
0 votes 6 answers Share Flag
Tue Mar 5, 2013
Russ Ravary answered:
The dangers of a derailment are there always. But what are the odds of it happening I don't know
0 votes 10 answers Share Flag
Mon Feb 4, 2013
Marcy Moyer answered:
There appear to be some people trying to place rental scam ads on Trulia. It has happened a lot on Craigs list.

Marcy Moyer
Keller Williams Realty Palo Alto
marcy@marymoyer.com
DRE 01191194
650-619-9285
... more
0 votes 1 answer Share Flag
Thu Jan 17, 2013
Michael Cheng answered:
David,

I have several clients in your situation and unfortunately $300-400K isn't considered a large downpayment in Mountain View. For international clients with no US credit history, you really need to have all cash down, or 100% downpayment. For a single family home in Mountain View, that starts at about $1M for a decent 50 year old, 1400 sqft home. Most international buyers in this area are bringing around $1-2M in cash.

Yes, there's a huge advantage to putting down a higher percentage as downpayment. If you can qualify for 40% financing (which is difficult, but possible), then we can get you into a basic 2 bedroom condo in the $600K range. Or, if you can put down up to $700K, then we can get you into the single family home mentioned above.
... more
0 votes 9 answers Share Flag
Sun Jan 13, 2013
Sam Shueh answered:
Assuming the rental income is $2500/month you paid $700,000 for an average 4/2 SFH the roi is 4.2%.
However, there is 1.25% property tax and closing cost. Therefore you are getting ~3% assuming full occupancy. The aggressive landlords charge above going rate loses tenants right after lease expiration.

A better deal is a lower priced home in the 400s. It makes more economic sense but it is harder to acquire since every mom pop investor is interested.

You also need to look at cash flow. Property managers charge 7-10% of rent-full service. Many realtors or property management company (pricer) will handle it for you.
... more
0 votes 7 answers Share Flag
Mon Dec 31, 2012
The Medford Team answered:
I believe that those who DO NOT buy in 2013 will regret it. It won’t be easy, however. We’re in the grip of a perfect storm; real-estate style. Here are the factors:

1. The bottom has officially come and gone – especially in the Bay Area.
2. Home prices are moving up, removing the wheel chocks for serious buyers who are careening into the market to snag a home while prices are still moderately close to the bottom.
3. A substantial portion of buyers (over 30%) are well-heeled cash investors snapping up properties like a huge scrapyard electro-magnet harvesting scrap steel.
4. This rush-to-buy has drained local inventory - which has NOT been replaced by potential home-sellers, many of whom are holding on hoping prices will increase even more.
5. Consequently, in classic supply-and-demand fashion, any decent home that hits the market is visited by hordes of buyers, attracts multiple offers, and is off the market in mere days – typically garnering a higher selling price than its list price.
6. Lack of inventory is propelling values higher. As prices spike upwards, FHA and VA buyers are being blown out of the water by buyers with conventional loans or cash. Cash is once again King – not because it demands a lower price, but because a cash buyer can bid way over asking price and not have to worry about appraisals.
7. Banks are instituting additional layers to the loan process, adding tremendous frustration to an already overstressed market AND eliminating many potential buyers who might have qualified just a few short months ago.
8. Banks are maintaining pressure on appraisers to come in with low appraisals (every appraisal is scrutinized in underwriting and, if it doesn’t meet bank requirements, another appraisal is ordered.)

Mix in “fiscal cliff” uncertainties and it looks like we’re in for a rocky ride in 2013. One thing is certain –the market has become so littered with landmines, less and less are actually making it to the finish line. And, if things continue as they are, the only direction prices will be going it UP.
... more
1 vote 8 answers Share Flag
... 5 6 7 8 9 ...
Search Advice
Search

Followers

245