Predictions for Sunnyvale, Cupertino


#986

I am not sure I am getting your point.
My point was Hyde area cannot rely on school premium which other CUSD school neighborhood provides (such as Kennedy, Miller, Lawson). Here, school premium means what you described as “In Sunnyvale and SC the neighborhoods with strong schools will be the last holdout”
Do buyers really think school rating of 7 as strong school?
I personally think Hyde is a good school. However, people won’t pay premium for 7 rating.
Thus, if houses in this area hold up price well then it is hard to say that big correction (like 20-25% as you said) would come in non-school-premium area.


#987

My original point was about Sunnyvale (area east of Duane ave) and not Cupertino. A 7 middle school is very good for this part of Sunnyvale. people may not pay premium for 7 school in Cupertino as all other schools are >7 but this is not the case in Sunnyvale/SC.

There are parts of Sunnyvale and SC where the schools overlap Cupertino school district. Either middle school or High school. These parts will be a holdout in Sunnyvale/SC. House prices in other areas will crumble.


#988

True. I would be tracking properties along or closer to 82.


#989

agree with Jane, Cupertino high school boundary has not seen any impact of slowdown. What I am seeing is a big correction in north sunnyvale and some bad areas of SC. Inventory has definitely shot up in the past 2 months… if it continues then we might see more drop in prices especially in tier 2 neighborhoods…


#990

Homestead High School Zone
7 days later, 24 homes available for sale.
4 new. 20 previous. So 7 out of previous 27 available are sold or delisted over the last 7 days.

1082 Plymouth Dr 3/1/1 1154/6000 $1.71M May 03, 2017
1059 Plymouth Dr 5/2/1 1435/6000 $1.78M Oct 12, 2017
1062 Plymouth Dr 2/1/1 0848/6034 $2.00M Feb 20, 2018
1074 Plymouth Dr 3/2/1 1680/6000 $2.21M Mar 29, 2018
1118 Plymouth Dr 3/1.75/1 1433/6206 $1.918M Jun 22, 2018
1137 Plymouth Dr 4/3.5/1 2300/6000 $2.90M Jul 31, 2018


#991

One data point from a co-worker who just got into contract in Monta Vista High school, he got it less than asking price which would have been bidding war price previously. This is his 10th bid and he said his agent need to chase Listing agents for reply, now listing agents are chasing buyer agent for offer. He said buyers are out there, but no one wants to bid anymore since they sense the weakness. People are still buying but trying to get better deal. This is 2M - 2.5M price range


#992

H1B and H4 caused slowdown?


#993

Sentiment can change back anytime


#994

I am starting to get excited… :heart_eyes_cat: There could be some good deals next year…


#995

This is the logical next step. When demand slows down in anticipation.

Will the supply unlock because investors/owners starts to cash out the capital appreciation because they think its maxed out? That would decide everything. Speed of new inventory in market is only thing we need to watch.


#996

Are you sure you want to wait until next year? Last year, there was a slowdown during the summer and by October, it started picking back up and continued strong until April. I think people worried about the spring time buying season and started early. It may happen this year as well.


#997

I am forced to wait as in no cash right now. :smile: So I am cheering on any price drops.

Keep em dropping!


#998

My personal belief is that things would hold steady until fall/winter. I think it would start picking back up at that time. There is no real reason why people need to dump their houses for cheap. Hiring is still going strong and there’s not huge layoffs going around. The broad economy is still very good.

The H1B/H4 issue is probably affects a small amount of people in the starter home price range. Once you get to 2M-2.5M+, these are 2 income families or people who hit the jackpot with their stocks.


#999

@hanera, waiting for your update on homes for sale in certain parts of Sunnyvale. By what percentage did the Inventory come down?


#1000

Homestead High School Zone
21 days later, 24 homes available for sale.
15 new. 9 previous. So 15 out of previous 24 available are sold or delisted over the last 21 days.

1082 Plymouth Dr 3/1/1 1154/6000 $1.71M May 03, 2017
1059 Plymouth Dr 5/2/1 1435/6000 $1.78M Oct 12, 2017
1062 Plymouth Dr 2/1/1 0848/6034 $2.00M Feb 20, 2018
1074 Plymouth Dr 3/2/1 1680/6000 $2.21M Mar 29, 2018
1118 Plymouth Dr 3/1.75/1 1433/6206 $1.918M Jun 22, 2018
1137 Plymouth Dr 4/3.5/1 2300/6000 $2.90M Jul 31, 2018

Edit: Instead of quoting, edited it :frowning:


#1001

this is actually not bad.


#1002

This looks like a good deal for the buyer. It is 500K down from their original asking price.


#1003

Compare to this house, 797 is a real bargain. The seller of 797 has a financial situation? The smart buyer took advantage of that.


#1004

To these buyers, $400k is not that big of a deal. Pocket change… :rofl:


#1005

What? These people are buying 2M houses. Not 20M.