In my opinion, this home is located in one of the best areas of Milpitas. Although the trulia listing says the average price for a home in ALL of Milpitas is much lower than $699k. There are several factors to be considered as to the current listing price. Consumers might pay more to get their children in a better school. Prior to my buyer clients making an offer on any property, I run a comparable sales report of the immediate neighborhood to make sure we are not offering too much. The immediate neighborhood would include surrounding streets in the same development that feed to the same schools. The MLS listing on this Escuela property reads as follows:
"Gorgeous home on huge 10,000 sq.ft lot.Best part of Milpitas. Completely remodeled 4 years ago.Brazilian hrdwood floor,professional kitchen w/granite countertops,breakfast bar&stainless steel appliances.Large master bed with views of mountain.Vaulted ceiling,formal living&family rm,double pane windows,designer paint,newer furnace,new garage door,upgraded carpet& much more.Room for RV/boat parking"
It's obvious from the MLS pictures, this home appears to have some very nice upgrades.
I have not run a CMA for this particular home so I can't say for sure if it's a good deal at $699k. If you would like me to do that for you, I'd be happy to. Anyone can list their home for any price they want. Value is determined by demand. A home is only worth what someone is willing to pay for it. But, even at $699k, this home could sell for a little less (or a little more) who knows, but from the listing info, it looks really nice and on a huge lot.