Newer house in Milpitas. Just sold for 1M. Is this part of Milpitas smelly? Apparently I am hard of smelling…
Very.
Was looking to buy similar house in 2016 July for 825k. Cash offer came in at 880. Now it is 1M. This is steep price.
2 Likes
Forget the smell. Flood prone is the real worry here.
From the bay?
Goes to prove people just don’t mind the smell too much. It’s already priced in. If someday that landfill’s closed you will be like winning the lotto.
Not sure where, but I think people need to buy flood insurance in this area.
There is a 15 year lease extension done on the landfill. That one day isn’t coming anytime soon. Agree that smell is more important to some not all.
Elementary is good here that draws the young crowd. Lots of Chinese and Indian in this particular complex.
2 Likes
What’s that noise? Oh, it’s the sound of money… 
Are there flood maps online?
That’s why we don’t care about the smell 
Just cook stinky tofu and you won’t even smell the city.
This property is in the heart of Smellpitas. Walking distance to the landfill and a bike ride away from the sewage treatment plant. Talk about double whammy…
1 Like
You have to be careful about buying flood insurance. Alot of people didn’t get paid off after Superstorm Sandy. It will probably be the same with Harvey. 60 minutes had a special on it on Sunday. People were turning in engineering reports and the insurance companies were changing them.
1 Like
Its a lending requirement not an option if the home is in flood hazard zone.
1 Like
I’d think mortgage companies would jump in with their lawyers. They stand to lose out, since the owner will likely default on the remaining loan balance. Since Freddie/Fannie ultimately own over 90% of mortgages, good luck to the insurance companies arguing with the government.
Most people buy flood insurance from FEMA (the government). Weird story.
Yes I agree with you, may people get the National Flood Insurance from FEMA.
You don’t actually buy flood insurance from FEMA. They administer it. They have a referral call center though. We’ve had flood insurance in the past when there was still a mortgage since banks won’t lend without it if in flood zone and will "“flood” you with notices if you do not buy or renew flood insurance in a timely matter. We used to get notices from our bank because Fema/agent slow in letting the banks know that it was renewed.
https://www.fema.gov/disaster/updates/fact-sheet-how-buy-flood-insurance
Agree that area can smell at times. I used to think the whole of Milpitas used to smell when I first arrived in the Bay Area, but slowly that smell dissipated with all the new construction and now in certain areas only. We have a place east of 680 and it does not smell. No flood insurance for here, but there are some ground movements evidenced by driveway cracks, etc being near the Calaveras Fault.