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Market Conditions in Fremont : Real Estate Advice

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Activity 39
Sun Apr 14, 2013
Sunil Sethi answered:
Are schools are great but the district doesn't guarantee admittance into the school the property is associated with. If the school is impacted they will divert students to the next closest available school. ... more
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Thu Nov 7, 2013
Brian Ripp answered:
Sun Oct 14, 2012
Steven Ornellas answered:
Hi johnkchang:

The answer to your question is Fremont Unified School District. Based on FUSD district maps, attending schools are:

Irvington High; 869 API
Horner Junior High; 923 API
Hirsch Elementary; 910 API

You should also review answers to a similar question posted about this project here:
http://www.trulia.com/voices/Schools/Elementary_school_for_this_property-441567#a1585157

-Steve
... more
0 votes 6 answers Share Flag
Thu May 31, 2012
Pacita Dimacali answered:
The only time I am comfortable waiving the appraisal contingency is when the buyer is paying cash.

The market is turning again, and we are seeing multiple offers. There are other ways to submit a strong offer without messing with the loan appraisal and loan approval contingencies. ... more
0 votes 5 answers Share Flag
Mon May 24, 2010
Nederlander asked:
Mon May 24, 2010
Nederlander asked:
Tue Jun 21, 2011
Kent Gagon answered:
Not knowing your market, I have to just ask a couple of questions to get a better idea of your situation.
1. Does the current rental rate cover the mortgage or are you subsidizing it?
2. Have the values fallen considerably based on what you owe not on what you bought it for?
3. Are you happy with your current tenants do they pay on time and keep up the house?
4. What would the advantage of selling do? Would you reinvest in a 10301 tax deffered exchange or pay the taxes and keep the money?
My advice is to seriously consider these questions and then consult with an agent in your area, find out if the tenants are in a position to buy it at a reasonable sales price or just keep it rents seem to be rising in most areas we track so as long as it is generating cash flow why sell it?
Hope this helps email me for more advice if you like
... more
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Thu May 13, 2010
Anna M Brocco answered:
Keep in mind that as far as schools are concerned, opinions are often subjective and what may be good for one is not necessarily the case for another--consider a visit to the district(s), ask for a tour of the facilities, speak to the principals, teachers, etc., ask all your questions and then make your determination--where will your comfort level best be reached. ... more
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Sat May 1, 2010
John Juarez answered:
Fremont is a fine place to live and a great starting point for a commute to many Bay Area job locations. Fremont is the 4th largest city in the San Francisco Bay Area measured by population. In a city of this size you will find a wide diversity in price, style, age and desirability of houses. In general, Fremont home prices reflect what has happened in the Bay Area in general. Prices declined sharply but have apparently hit bottom and are on the increase.

Your decision to rent or buy is complex and is also tied to your personal plans for the future. For instance, if you are planning to stay in one place for an extended period of time, buying is the best thing for you, in my opinion. On the other hand, if you plan to move in a relatively short time or you are uncertain of the future, perhaps renting is a better choice.

I have worked in Fremont for many years. I would be happy to discuss the City and its benefits with you.

John Juarez, Realtor
The Medford Real Estate Team
Windermere Welcome Home
DRE#01223788
John@CarlMedford.com
510-673-0686
... more
0 votes 6 answers Share Flag
Thu Apr 1, 2010
Grace Hanamoto answered:
Hello Salinas and thanks for your post.

To be frank, determining where and how to invest your money is a conversation you should have with a qualified real estate attorney. Without knowing what you want to purchase, the rental income you desire, if the investment is cash or you'll be taking a loan, your personal financial goals, if you want to live in the home later, etc., it's difficult to provide a quality answer to your question.

If this were my own decision, I would not select property in either the East Bay or Salinas as these areas are too far for me to comfortably commute to show homes, coordinate repairs, or to check up on the condition of the property. I would also not necessarily select East Palo Alto since the type of home I purchase there for $250,000 may not be conducive to a great rental and would probably need repairs before being able to attract a quality renter. A Santa Clara or San Jose condominium in a fairly good school district would probably be optimal since the age of the homes are fairly new and someone else will be charged with the responsibility for upkeep of the building and grounds. But then, again, I'd be targeting my rental for a Silicon Valley professional single or very small family who would appreciate a community with amenities such as pool and gym. Keep in mind, however, that these are MY requirements, and not yours, however, a great agent will listen to what you need, can point out investment and return on investment potential and will be able to direct you to an appropriate house or condo "candidate" for your consideration.

Start with a great agent, and they'll be able to help you to pinpoint a home that meets your goals.

Sincerely,
Grace Morioka, SRES
Area Pro Realty
Tel (408) 426-1616
Email: GraceAreaProRealty@att.net
... more
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Tue Mar 16, 2010
Connie & Jim Gholson asked:
At the end of December 2009, there were only 1172 housing units for sale in Southern Alameda County, a decrease of 58% in inventory levels from year to year. Only 237 of these units wer...
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Wed Mar 10, 2010
Dp2 answered:
It's too hard to say. However, prices declined in Feb 2010 in several markets nationwide.

The real question is whether you'd have put a property under contract by then (assuming you haven't already bought a property). ... more
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Mon Jan 11, 2010
John Juarez answered:
Fion,

I could take the time to research the answers to your questions, but I don't know why I would spend my time doing that since I don't know what the information means to you. These are questions that you should ask your Realtor. If you don’t have one, maybe you should contact me directly so that we can meet and you can decide if we want to work together. ... more
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Wed Nov 25, 2009
Don Tepper answered:
I don't know specifically about the Bay region . . . or where Trulia gets its statistics.

However, I can tell you where I get my statistics and what the advantages and limitations are.

In many areas, the most current and reliable information comes from the MLS. Every home that's listed on the MLS, obviously, is tabulated. And statistics you may see about price reductions, or days on market, or sales price as a percent of listing price, generally come from the MLS. The data can also be broken down by listing company, by agent, by Zip code, by type of property, and a hundred other items.

There are a few drawbacks to the MLS data. First, only homes sold on the MLS are listed. Now, that includes most homes. But it doesn't include true FSBOs. And it doesn't include properties sold privately (as between relatives), unless an agent was used.

Second, because there's so much information, you have to be careful to understand what you're looking at.

County records are useful from a different standpoint. They'll capture ALL deed transfers, including FSBO sales and familial sales. However, beyond that, they're not much good. First, there often is a lag-time between a transaction and its being changed in the public record--anywhere from a week to a month or more. Second, the data aren't aggregated. And a lot of information (such as the amount of a seller subsidy) isn't recorded at all.

So, most of the data you're seeing originates from the MLS, not county records or some other sources.

To answer your second question, again, I don't know about Santa Clara. However, as I mentioned earlier, the data can be broken down by firm, by office, or by individual agent. And here you have to be careful, too, to understand the structure of the industry. Where I am, for example, there are a couple of big firms--Long & Foster and Weichert, for example. Then there are the franchises, such as ReMax. Long & Foster has hundreds of offices and thousands of agents. Each ReMax office is individually owned, so while you may recognize their name nationally, a particular office may have 10 or 20 or 30 agents, no more. There's nothing wrong with that model. But just understand the difference so you can compare apples to apples.

With that as background, you might want to call the Santa Clara Association of Realtors and find out exactly how their data are developed. But I suspect it's along the lines I described.

Hope that helps.
... more
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Tue Jan 26, 2010
Leslie Guzman answered:
I have linked you to the Niles Elementary stats for your review. All Fremont schools have the same info that may be accessed.
As far as the Cedarbrook homes, each "deal" is handled separately depending on your wants and needs. I strongly suggest that you have your REALTOR with you and they register you the first visit to the homes.
Or just contact me at 510-706-3214.
Leslie Guzman
... more
0 votes 9 answers Share Flag
Mon Dec 7, 2009
Pacita Dimacali answered:
Presumably, you're still in touch with your realtor who helped you buy your house? If so, that realtor is the first resource you should seek out.

Asl the realtor to research simila properties in your immediate vicinity, that have sold between July 1, 2008-March 31, 2009.

For your info, the comps would be based on:
- age of the property (can't compare a much older home to a newer one)
- condition (don't compare fixers with brand new houses)
- size square footage of the building, the lot
- number of bedrooms/baths
- location (best if they're in the same neighborhood, if not as close to yours as possible. Unless have a farm, you can't compare properties miles apart)

Note...if there were any short sales and foreclosures in your neighborhood, you may be able to use those as justification for reduced market value since their lower prices will definitely affect yours

If you can justify a lower property tax assessment, by all means, DO!
... more
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Fri Jun 19, 2009
Pacita Dimacali answered:
Rhonda

What does your realtor say -- or did you make the offer directly to the developer? Is the developer in trouble Are there litigations? Are the properties being sold as REOs?)

What was the situation with the properties? Were they REOs? Dealing with REO agents can be challenging -- some are better than others in giving an update on the status of your offer. Theyy will mess up and not give a timely response especially when they're inundated with offers on various properties.

Short sales are another story. Waiting periods can vary from 45 days to nearly 6 months if there is more than one lender.

It does help to have a proactive realtor who will follow up with the listing agent(s) to get the update you need. Get yourself a good realtor who will be your advocate.

Good luck
... more
0 votes 1 answer Share Flag
Fri May 22, 2009
Brian Ripp answered:
Well, tough times are everywhere - but Warm Springs (and all of Fremont) is not in the 'toilet'. Born and raised in Fremont and a current Warm Springs resident, I do not see any thing wrong with Warm Springs or Fremont. Fremont's home values have leveled off, and now homes are falling into the appropriate price ranges.
The values in the Mission area and Warm Springs have done well throughout this market. However, prices may fall, as I mentioned, into there own market price range. See my blog on higher end homes on my web site.

Brian Ripp, CRS, GRI
Broker, Notary
Check my new web site: www.BrianRipp.com

www.RealtyWorld-Viking.com
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp
510-710-4905 cell
510-794-9006 wk
Realtor since 1985
... more
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Mon Jun 8, 2009
Steven Ornellas answered:
Hi Menudo, I am sorry to hear of your situation, but you may be "ok."

I'm sure you have already seen this, but just in case, here is the Business Week story:
http://www.businessweek.com/ap/financialnews/D96FCINO1.htm

What may be of much more use to help you understand exactly what is happening, with contact names/numbers that might be able to more thoroughly answer what options you have, see the "web reference" link below, which states:

"The declaration gives detailed description of what parts of the debtor's business the debtor intends to continue during the Chapter 11: Southern California homebuilding, John Laing luxury homebuilding, John Laing custom homebuilder operation. All other building operations are said to have stopped, and the chief restructuring officer indicates all landholdings outside the three surviving homebuilding operations will be sold."

Further, there is a reference to "PACER" [ http://pacer.psc.uscourts.gov/ ] in the second link, which allows you to download the actual bankruptcy docs at $0.08 per page.

Between these two sites you should be able to uncover more details about your personal situation.

Best Regards, Steve
http://www.Steven-Anthony.com
... more
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Tue Jan 27, 2009
Steven Ornellas answered:
Vr, a Comparative Market Analysis (CMA) gives you the best representation of market price/activity/trend direction - for the specific property details you search on.

DO NOT rely on median and average-based statistics, these measures are meaningless for targeted selling/purchasing as they have no regard for any of the specifics you may be searching for and can be skewed by segments of market activity not matching your individual situation.

You are probably correct in your assumption that waiting may be required; however, its best to find out where you stand now. Here are the latest 3-yr stats for Fremont "attached" homes http://docs.Steven-Anthony.com/FremontAttached1208.pdf

Please email me your address offline and I will send you a current CMA.

Best Steve
SteveO@Steven-Anthony.com
... more
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