We have been trying to bid for houses in Fremont (townhouses only, SFH is out of our budget) and UnionCity (SFH around lowry road, west side of 880) but we are getting overbid by 100K+. I dont think we would be able to compete with the folks directly as first time buyers and only have 15-18% Downpayment. Jobs in Southbay around santa clara/north San Jose area. so commute will be 40+ mins each way.
We looking into couple of new communities and one of them Bayshores in Newark. The path to houses from the 880 exit is pretty much run-down commercial complexes and some industrial sites.
#1. Schools are pretty low rated (although we dont have kids yet and dont need a school for atleast another 5 years). Will it cause problems selling it in future? are there plans for new schools in this area? could not find it in Newarks Master plan (not sure if they even have a master plan).
#2. will this appreciate over next few years (assuming we dont see a crash)
#3. Do you it is a wise decision to get this paying $1m+ for a townhouse?
I think that area smells (at least every time I passed by the Dumbarton toll plaza in the past it did). If it’s gonna smell no matter what then Milpitas is a better buy IMO. You should be able to get a fairly new townhome there for $1M.
Hold on, why aren’t you considering Fremont neighborhoods like my South Sundale where SFHs are pretty reasonable still (might be able to find a fixer in the high 700ks and up for bigger and better conditioned homes)? I would rather bet that the schools in my area will rise faster than most in other areas because the folks that are moving are professionals and tech. My tenant is into cloud computing. 3 kids and stay home mom is pretty active with school. My opinion of course…
thanks. I never noticed it but thanks for warning. I have noticed smell in Milpitas and dixon landing area many times and thats the reason I am trying to stay away from there.
thanks for comment. I have looked at some of them and I could not find anything close within $1m which decent enough (live without too much fixing).
my SO does not want to do drastic level fixing (which fixer upper requires) as she thinks I am too lazy to do it and I pretty much work till late every day.
The smell is not that bad in Milpitas. It certainly hasn’t stopped home prices from zooming up. Shoot, when I was driving down from the city every weekend to help my Big Bro with his landscaping of his brand new Milpitas home in a sweet circular cul du sac the smell was present then when we would go to the junkyard there. And now, Milipitas homes are expeeeeensive. That 4 bedroom my Big Bro bought brand new was 190K if I remember correctly. Now, 1M and rents out easily for about 3-4k…
true. I was laughing at my colleagues buying townhouses in 2011/2/3 for 400-500K as over priced in milpitas. Now they are all selling it for 900K+ and moving to better areas.
It is not worth getting a home at newark ! Driving 880/680 is horrible. Get it from san jose or santa clara.
Stay within 20 minutes of drive, avoid 880/680 south morning commute.
There are plenty of homes coming in Milpitas, get one of these etc
First, you and your family needs to forget school ratings. If you keep it in mind, you will never be winning the home unless you have 100k-300k over bid limit.
Yes, it is easy question ! I would prefer SFH for primary.
Yes, with your assumption no crash.
Are you comfortable to buy now, if there is a crash? If yes, you need to buy.
Again, what was a key factor in the rise of Milpitas? Location, pure and simple. Sure, cheap too back then but for awhile the commute was decent. Now, maybe not so much…
Is San Jose better?
Someone I know sold in Evergreen and bought in Mission Schools Fremont recently just due to commute.
People living in South San Jose take 5-10 minutes less commute time than NORTH Fremont. South Fremont commute would take the same time as South San Jose.
Have you thought about buying a multifamily/duplex outside the bay area (but still in CA) and rent closer to work? That way you could pay your rent in the bay area.
no, did not think of that. trying to get away from renting I have been doing it for last 7+ years. Currently rent in North San Jose Area (~3.2K/month for an apt).
All those three does not matter, at this market ! This area completely changed.
Google New complex can be reached by 5 mins, Diridon station 5 mins, people can easily go to SFO by train, Tamien station near by. If I get this at 850k, I would buy without second thought. I visited open house, at least 3-5 families inside the home always, continuous stream of people.