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Home Buying in 94040 : Real Estate Advice

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  • Local Info3
  • Home Buying8
  • Home Selling1
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Activity 103
Sun Apr 28, 2013
Terri Vellios answered:
Homes located in higher ranking school districts are higher than those not located in higher ranking school districts.

Home values are determined by their location. A home right across the street from a school may cost less due to traffic, noise, lighting, etc. ... more
0 votes 7 answers Share Flag
Mon Apr 1, 2013
Tina Lam answered:
I've sold plenty of homes in the areas you've mentioned. I'm also working with many buyers who are competing to win a home.

I can certainly tell you when you are overpaying when the bids aren't supported by current demand. However, if you're concerned about overpaying just because prices are going up, then you shouldn't be buying in this market.

If you aren't looking to compete purely on price, then there are other ways to go about it. But the approach is not for everyone.
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0 votes 8 answers Share Flag
Mon Apr 1, 2013
Terri Vellios answered:
To to www.RentOMeter.com and you can find out what are rent ranges for various areas are.
0 votes 4 answers Share Flag
Tue Mar 5, 2013
Lindy Latham answered:
Welcome to the Bay Area!

You should be able to find what are looking for in the areas you are searching. Your willingness to get a 1 BR opens up quite few possibilities in your price range.

There are lots of smaller , older complexes out there. These typically are in quieter locations and are more private than some of the newer mega-complexes. Sometimes there are even small cottages available. These typically have lots of charm but may be less updated than an apartment.

While there is no substitute for seeing a property in person, start taking a look at the Craigslist
rental ads. This will help you get a feel for the market prior to your arrival.

And one last thing - the traffic around Google HQ at highway 101 can be horrendous. You may want to get the Google bus routes and see if you can find something located where you can take a Google bus to work.

Good luck!
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0 votes 6 answers Share Flag
Wed Jun 28, 2017
Elena Talis answered:
It depends... If you have overhead wires delivering power the neighborhood homes (most commonly wooden utility poles) it seems to be normal in a lot of places and that won't affect values of individual homes. If you have high voltage wires running near your property they will make most of the buyers discount the property or bypass it altogether. ... more
0 votes 14 answers Share Flag
Tue May 27, 2014
Terry Farnsworth answered:
Shopping around for a loan shouldn't negatively affect your credit. It is understood that most consumers are going to have at least a couple lenders run their credit when shopping around for the best rates.

Pre-approvals definitely matter - in fact - it's probably the single most important component of your offer.
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0 votes 23 answers Share Flag
Tue Mar 5, 2013
Marcy Moyer answered:
Jodeepali,
I am not sure what you mean by safe. If you mean are you in danger from the trains then I think you are probably fine. While it is possible that Cal Train could derail, I am not aware of any incident where someone has been hurt who lives in an adjacent property. If you are talking about your investment being safe, that is another matter.
Homes next to trains will always be worth less than a similar home that is not next to a train. The noise will devalue the property. When the market is good, a home next to a train will still sell, just for less money than one without the noise. However, when the market is bad, homes next to trains will not only sell for less, but will also be harder to sell. In a buyer's market, buyers get to choose between many homes, and the train track home may not be chosen.

Marcy Moyer
Keller Williams Realty
marcy@marcymoyer.com
650-619-9285
... more
0 votes 11 answers Share Flag
Mon Dec 31, 2012
Marcy Moyer answered:
The inventory is almost non existent. When this happens in Dec historically the prices will increase in the following year. So, yes it is a good time to buy, especially early in the year, but you have to be aggressive, and not expect to get a house with your first offer, or to get "A deal", because they generally do not exist.

Marcy Moyer
Keller Williams Realty
marcy@marcymoyer.com
D.R.E 01191194
650-619-9285
... more
0 votes 11 answers Share Flag
Sun May 17, 2015
Tim Moore answered:
If you are like me, with all kids grown and moved away, it means less than to a new parent or one with kids in school. School districts with good statistics are sought out and when availability is reduced and demand increased = prices go up. The law of supply and demand take over. Selling a house in a desirable school district can increase the time it sells and can increase the prices they sell for. Selling is a poor school district can do just the opposite. It all depends on the buyer and their needs and wants. ... more
0 votes 12 answers Share Flag
Thu Jan 17, 2013
Nina Daruwalla answered:
Hi David,
I am re-location certified and work with clients with different situations like yours all the time. I have re-located four countries myself! With what figures you are giving here, you could qualify for a VERY decent Mortgage, $400K being 20% Down Payment. Yet, i have to say, I would have you sit down with my Lender and meet their Lending criterias, get your paystubs and W2's to them, before they will give you pre-approval....safer that way, then we can go out and look for a good home for you!
Advantage of putting down a good Down payment is, it makes your Offer that much stronger...
Do get in touch with me if you would like to have a detailed conversation.
Be well and safe, regards,
Nina Daruwalla
DRE#01712223
408-7773823
www.ninadaruwalla.com
... more
0 votes 13 answers Share Flag
Sun Jan 13, 2013
Dorit Alon answered:
Hi Nigel,

I recommend you invest by buying a nice newer construction condo in a central location with resonable HOA for the following reasons:
1. Low vacancy rate
2. Higher annual return for your investment
3. Low maintenance expenses
4. High financial profile of potential tenants, therefore less complicated
5. High demand for rental

I have couple of locations to suggest for you, with your budget you can buy at lease 2 of those.
If you prefer to purchase one single family home I advise to purchase next to good schools where the rental rate is higher and the length of occupancy is longer. Another way to go is to buy a home on a bigger parcel with subdivision potential in the present or the future.
You can contact me via www.doritalon.com

Good luck
Dorit
... more
0 votes 8 answers Share Flag
Mon Dec 3, 2012
Juliana Lee MBA LLB answered:
A quick search shows there have been 19 homes sold in Mountain View since 1/1/2009 which sold for over $1,800,000. Nearly all were either brand new or in Los Altos school district boundaries.

Only 8 homes were sold during this time period at $2M +. Six of them were brand new. Of the two which weren't brand new one had a nearly 16,000 sf lot, was a 1920 home in incredible condition offering a style seldom seen in Mountain View. One had 4,309 sf living space and a 19,400 sf lot. A ninth home sold at just under $2M, wasn't brand new but had Los Altos schools. The listed living space of the Brookdale home is 668 sf larger than the county records.

The asking price puts the home where it has to offer desired features that essentially no other home offers.

Juliana Lee, MBA LLB
cell: 650-857-1000
Top 3 agent nationwide at Keller Williams Realty

Over 20 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties
... more
0 votes 4 answers Share Flag
Thu Sep 13, 2012
Bay_area_ll answered:
0 votes 8 answers Share Flag
Sat Dec 15, 2012
Michael Cheng answered:
Tracy is a tricky investment area for new investors. If you get the right deals, then you can do ok on rental properties. Since there's a significant population there, there's a healthy rental market. Unfortunately, too many new investors overpay for deals as prices seem low, especially relative to the peninsula.

I wouldn't count on much appreciation in Tracy, since it lacks the key drivers that other Bay Area cities have.

Rental income is always relative to the deal, so it's hard to say. If you get a good deal, then your rental income could be as high as 8% per year. If you get an average deal, then you should expect 3-5% rental returns.

Since I work with plenty of investors and invest myself, I must say that we're all looking for the magical land where you can get both appreciation and good rental income. The reality is that doesn't exist. Once in a very long while, you can get a great deal, but that's just a market discount, not appreciation. So, we all have to pick what's more important to us as investors and look for properties that match.
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0 votes 1 answer Share Flag
Mon Sep 24, 2012
Michael Cheng answered:
As always, the answer depends on what you're looking to accomplish. There are areas great for appreciation and others for cash flow. Some are balanced for both.

At $300K or less, you're looking at a highly competitive segment of the market. Simply knowing where to look is not enough. Winning a deal is tough. Even though I help buy investment properties all day long and have a very good idea of what it takes to win, I have to put in up to a dozen strong offers for my investor clients before getting a single win. ... more
0 votes 6 answers Share Flag
Tue Oct 23, 2012
Andrea Wince ~ Lic. 01439761 answered:
I am familiar with Mountain View (location where you posted your question) and I am also familiar with Fallbrook have family that lives there. My opinion is that you will have difficulty finding real estate in either of those locations for 11K. If your down payment is $11k, you might be able to buy something around the $250k range with FHA financing. ... more
0 votes 8 answers Share Flag
Tue Sep 4, 2012
Juliana Lee MBA LLB answered:
Currently 211 Pine Way is listed on the Multiple Listing Service at $1,099,900 by the Mozart Develpment Company. Typically a new development will only list one unit on the MLS to attract the attention of buyers and of agents who have buyers. This gives them the flexibility to keep their sales prices to themselves and thus adjust them whenever they wish without buyers comparing prices.

Develpers also prefer to try and capture buyers without agents but cooperate with agents who bring buyers. They surely net more money by selling to buyers who do not have agents, otherwise they would take advantage of the "free" promotion of the MLS.

Currently there are no sales for either Pine Way or Geary Way shown in the Santa Clara County title records provided by the MLS. Any completed sales would thus be quite recent.

If the HOA does timely maintenance the HOA fees will probably not become unreasonable. High HOA fees most often occur after maintenance has been delayed causing unnecessary damage from weather.
... more
0 votes 4 answers Share Flag
Thu Aug 9, 2012
Ron Thomas answered:
You realize that your Mortgage, Insurance and Taxes will start the day the Ecrow Closes?

Will the rent cover all that?
How about YOUR rent where you are living?
Can you trust them?

There is that little thing called; helping out someone in need: But nobody does that anymore, right?
... more
0 votes 8 answers Share Flag
Tue Aug 14, 2012
Zofia Morse answered:
Do you have an agent? There are homes coming on the market everyday, so by regulary checking listed homes you may find your dream place
0 votes 0 Answers Share Flag
Mon Dec 3, 2012
Gregorio Denny answered:
Generally the Seller pays the City $1.10 per $1000 and the buyer and seller split the county $3.30 per $1000.
0 votes 4 answers Share Flag
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