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Homes in Dublin, CA

By crazydesi following x   2017 Jul 20, 2:37pm 1,790 views   34 comments   watch   quote     share  


Want to check if anyone looked at these homes in Dublin.

They are selling homes starting price of 1.45M$ and selling fast, want to jump in buy, any expert opinion.

https://www.tollbrothers.com/luxury-homes-for-sale/California/Tassajara-Hills

#housing

1 someone else   ignore (0)   2017 Jul 21, 9:44am   ↑ like (0)   ↓ dislike (0)     quote        

@crazydesi how do you know they are selling fast?

2 crazydesi   ignore (0)   2017 Jul 21, 10:01am   ↑ like (0)   ↓ dislike (0)     quote        

They released 20 homes a month back in first release and sold all of them in a week. They released 6 homes last weekend and they said they are sold out again. They are going to take a year to build and not sure where the market will be there in a year and interest rates also might go up.

I'm confused now to jump in or wait.

3 crazydesi   ignore (0)   2017 Jul 21, 10:02am   ↑ like (0)   ↓ dislike (0)     quote        

Also they are building 350 homes, in this community.

4 BayAreaObserver   ignore (1)   2017 Jul 21, 11:48am   ↑ like (0)   ↓ dislike (0)     quote        

Is there going to be an HOA fee involved ? If so how much will it be before it goes up ? What about other covenants and restrictions ?

That is or was a nice area as I remember however the traffic on the 580/680 interchange can be brutal during peak commute times and no idea what it is like now.

Looking on the map you have several ways in and out so you have a decent chance to avoid any major mess at the interchange depending where and when you are going.

5 BayArea   ignore (0)   2017 Jul 21, 11:59am   ↑ like (3)   ↓ dislike (0)     quote        

Few things...

1.) If you input the addresses of the homes that allegedly have sold, do you get any info about them in redfin and Zillow?

2.) $1.45M in Dublin? You are in Danville/Alamo territory there. People buy in Dublin to get a price break from the tri-valley. I don't know what those homes you are looking at offer, but never forget... Location Location Location.

3.) Good point about HOA. I have experience with rental property where the HOA went up every year for several years (one year it went up 20%, the most allowed by law). Ask me if I would ever consider owning a home with an HOA again.

6 crazydesi   ignore (0)   2017 Jul 21, 12:05pm   ↑ like (0)   ↓ dislike (0)     quote        

200 HOA.

These are big homes (>3200 sqft) and if I look at current existing homes which are on sale in dublin are around 400$ sq/ft , where as If I buy a new one it will be around 360$ sqft.

There are two nearby communities, wallis ranch and they build around 800 homes and another builder Tim Levis and they are building around 40 homes.

Toll brothers is asking for 5% deposit for a new home, which seems to be huge. If the market falls, they might not return the 5% if we back off.

7 BayAreaObserver   ignore (1)   2017 Jul 21, 12:12pm   ↑ like (0)   ↓ dislike (0)     quote        

Have you inquired as to the terms and conditions of any deposit ? Are you sure this is where you want to move to or are you chasing a price because you don't want to get left out ? Are you planning to live in California long term or short term ?

As much as possible take emotion out of this and try to frame it from a different perspective. What about the school district(s) ? Are there Mello-Roos involved? How energy efficient are these homes and what direction to they face. You get the afternoon / evening sun there to contend with and are you prepared down the road to deal with heating and cooling that size of house ? What about maintenance and upkeep - are you a do it yourself type or have a budget to hire people to do things for you. If it's a two story - are you handy doing things off a ladder ?

Guess this goes without saying but have you considered just the cost to put blinds and curtains on a house that size, not to mention furniture if you do not have it already and can't or won't wait until you can fit those purchases into your budget without going into more debt.

8 BayAreaObserver   ignore (1)   2017 Jul 21, 1:22pm   ↑ like (0)   ↓ dislike (0)     quote        

@crazydesi - When I moved to CA back in 95, the house I purchased was 2350 sqft and to put blinds on that thing ran just a shade over $1,100 and that was a wholesale prices sans tax that I got thru a design outfit in Pennsylvania. Was able to take the measurements myself since I was on an expat status from PA prior to the move. Drapes were even more and fortunately we had enough furniture to actually furnish the place.

Most of the homes in the neighborhood had rooms void of anything since the purchasers couldn't afford to fill them with anything - for years.

That still holds true out here in some of the fancier neighborhoods around Geist Reservoir. People want an "image" but try to hide the fact they can't afford to live up to the dream they desired. Leased cars, leased everything, buy clothes and wear them once and return them, eating Mac & Cheese and Instant Noodles. Gotta love it....

The old "champagne appetite on a beer budget routine".

9 crazydesi   ignore (0)   2017 Jul 21, 1:36pm   ↑ like (0)   ↓ dislike (0)     quote        

I have been living in San Jose,CA for 18 years and planning to stay here. We both have stable jobs, so affordability is not a issue for us. I'm not sure about the other people who are buying.

Cost of filling up home with furniture is just a fraction of home purchase price in California. For me it is unethical to foreclose a home when you can afford to pay, but 90% of the people who buy in bayarea thing other way. When we hit a recession, I'm sure some of these homes will go to foreclose. I have been waiting for recession for last 3 years and prices have been going up and up.

10 KimJongUn   ignore (0)   2017 Jul 21, 1:39pm   ↑ like (1)   ↓ dislike (0)     quote        

crazydesi says

200 HOA.

That's high for SFH in Dublin.

11 KimJongUn   ignore (0)   2017 Jul 21, 1:41pm   ↑ like (0)   ↓ dislike (0)     quote        

crazydesi says

I have been living in San Jose,CA for 18 years and planning to stay here. We both have stable jobs, so affordability is not a issue for us. I'm not sure about the other people who are buying.

Where is your office located? 680 traffic is brutal during commute hours.

12 KimJongUn   ignore (0)   2017 Jul 21, 1:42pm   ↑ like (0)   ↓ dislike (0)     quote        

BayAreaObserver says

Are there Mello-Roos involved?

Definitely not.

13 crazydesi   ignore (0)   2017 Jul 21, 1:42pm   ↑ like (0)   ↓ dislike (0)     quote        

All the new builders are having around 200$ as HOA. I checked in Wallis Ranch and Tim Lewis community both are around 200$.

Straw Man says

crazydesi says

200 HOA.

That's high for SFH in Dublin.

14 crazydesi   ignore (0)   2017 Jul 21, 1:43pm   ↑ like (0)   ↓ dislike (0)     quote        

No Mello-Roos but they said property tax is 1.33%

15 KimJongUn   ignore (0)   2017 Jul 21, 1:44pm   ↑ like (0)   ↓ dislike (0)     quote        

crazydesi says

All the new builders are having around 200$ as HOA. I checked in Wallis Ranch and Tim Lewis community both are around 200$.

Bastards. It's more to the tune of $70-80 in older (West Dublin) developments. Is there clubhouse/community pool/tennis courts?

17 anotheraccount   ignore (0)   2017 Jul 21, 2:04pm   ↑ like (0)   ↓ dislike (0)     quote        

I know the area well and the traffic has gotten really bad every time I am there. 1.45M seems on the higher side especially that you will need additional 50K in upgrades to make the house look good. The most important is to pick the right lot within the development.

18 BayArea   ignore (0)   2017 Jul 21, 2:10pm   ↑ like (0)   ↓ dislike (0)     quote        

crazydesi says

200 HOA.

These are big homes (>3200 sqft) and if I look at current existing homes which are on sale in dublin are around 400$ sq/ft , where as If I buy a new one it will be around 360$ sqft.

There are two nearby communities, wallis ranch and they build around 800 homes and another builder Tim Levis and they are building around 40 homes.

Toll brothers is asking for 5% deposit for a new home, which seems to be huge. If the market falls, they might not return the 5% if we back off.

Just remember, in any given zip code, typically as the size of the house increases, the price per sq-ft decreases.

$200 HOA will go up, no question

19 BayArea   ignore (0)   2017 Jul 21, 2:10pm   ↑ like (0)   ↓ dislike (0)     quote        

crazydesi says

No Mello-Roos but they said property tax is 1.33%

ouch!

20 crazydesi   ignore (0)   2017 Jul 21, 2:15pm   ↑ like (0)   ↓ dislike (0)     quote        

Older homes of this size are also listed around the same price, that was the reason, I'm looking into brand new, atleast I get a warranty on the home. If I look in pleasanton everyhome is around 500$ to 600$ per sqft, not sure who is buying but they are getting sold very fast.

tr6 says

I know the area well and the traffic has gotten really bad every time I am there. 1.45M seems on the higher side especially that you will need additional 50K in upgrades to make the house look good. The most important is to pick the right lot within the development.

21 lostand confused   ignore (0)   2017 Jul 21, 2:17pm   ↑ like (0)   ↓ dislike (0)     quote        

Wow I remember way back when friends bought houses in Dublin near BART for 500-600k and were crying they paid too much!!

22 crazydesi   ignore (0)   2017 Jul 21, 2:21pm   ↑ like (0)   ↓ dislike (0)     quote        

Which year was it?

lostand confused says

Wow I remember way back when friends bought houses in Dublin near BART for 500-600k and were crying they paid too much!!

23 BayAreaObserver   ignore (1)   2017 Jul 21, 2:27pm   ↑ like (0)   ↓ dislike (0)     quote        

Are Mello-Roos no longer an item out there ?

24 crazydesi   ignore (0)   2017 Jul 21, 2:28pm   ↑ like (0)   ↓ dislike (0)     quote        

They said no mello roos but tax is little high compared to other cities in alameda county.

25 BayAreaObserver   ignore (1)   2017 Jul 21, 2:31pm   ↑ like (0)   ↓ dislike (0)     quote        

The area I was in did not have Mello-Roos and initially I did not understand or know what they were. I remember in December of 94 sitting in the hotel after work watching the news and all they kept talking about was Mello-Roos this and that and I thought it was some kind of insect problem or similar. No one ever said anything about money during the broadcasts - just these Mello-Roos and what a problem they are.

26 lostand confused   ignore (0)   2017 Jul 21, 2:31pm   ↑ like (0)   ↓ dislike (0)     quote        

crazydesi says

Which year was it?

Time goes buy-very early 2000s. I think it went up heavily and then crashed in 2006-2008 to more or less what they bought it for and then a little less for some, but seems to have rocketed up again.

27 crazydesi   ignore (0)   2017 Jul 21, 2:33pm   ↑ like (2)   ↓ dislike (0)     quote        

Lot of young people who are buying does not even know what is mello roos and why the tax is high compared to other cities. They think if everyone is paying why not me.

28 crazydesi   ignore (0)   2017 Jul 21, 2:34pm   ↑ like (0)   ↓ dislike (0)     quote        

yes, prices crashed 40% especially in East Dublin when they built those massive new homes. Lot of people foreclosed and many people from South Bay bought those homes when it crashed.

29 BayAreaObserver   ignore (1)   2017 Jul 21, 3:29pm   ↑ like (0)   ↓ dislike (0)     quote        

@crazydesi - did you see this yet ?

Looking at the Tri-Valley, Stark noted that “even with new construction in San Ramon and Dublin, the supply of homes for sale during the first six months of 2017 dropped 12 percent,” while sales, again, rose 10 percent and prices increased 6 percent. In Dublin, there was an 8 percent rise to $1,315,444. In Pleasanton, the median for a single-family home was up 6 percent to $1,112,875.

http://www.eastbaytimes.com/2017/07/21/east-bay-real-estate-home-supply-drops-but-prices-keep-rising-by-16-percent-in-oakland/

30 crazydesi   ignore (0)   2017 Jul 21, 3:35pm   ↑ like (1)   ↓ dislike (0)     quote        

Yes, saw this morning. I think interest rates are not going to go up in near remote and this phony economy seems to be running strong for a year or two.

Stark summarized the market like this: “Yes, there’s limited supply. Yes, prices are high. But homes are selling. As long as interest rates stay reasonable and the Bay Area economy continues to remain strong, we can anticipate similar sales and price conditions for the balance of 2017.”

BayAreaObserver says

@crazydesi - did you see this yet ?

Looking at the Tri-Valley, Stark noted that “even with new construction in San Ramon and Dublin, the supply of homes for sale during the first six months of 2017 dropped 12 percent,” while sales, again, rose 10 percent and prices increased 6 percent. In Dublin, there was an 8 percent rise to $1,315,444. In Pleasanton, the median for a single-family home was up 6 percent to $1,112,875.

http://www.eastbaytimes.com/2017/07/21/east-bay-real-estate-home-supply-drops-but-prices-keep-rising-by-16-percent-in-oakland/

31 KimJongUn   ignore (0)   2017 Jul 21, 4:19pm   ↑ like (0)   ↓ dislike (0)     quote        

crazydesi says

They said no mello roos but tax is little high compared to other cities in alameda county.

Ha, check out San Ramon next door: 1.7%, baby.

32 Strategist   ignore (1)   2017 Jul 21, 5:23pm   ↑ like (0)   ↓ dislike (0)     quote        

crazydesi says

I have been living in San Jose,CA for 18 years and planning to stay here. We both have stable jobs, so affordability is not a issue for us. I'm not sure about the other people who are buying.

Cost of filling up home with furniture is just a fraction of home purchase price in California. For me it is unethical to foreclose a home when you can afford to pay, but 90% of the people who buy in bayarea thing other way. When we hit a recession, I'm sure some of these homes will go to foreclose. I have been waiting for recession for last 3 years and prices have been going up and up.

Your wife must be pretty mad at you for waiting 3 years for a recession which never came. Even if it does come, don't expect prices to crash. Stop speculating and buy the home. Prices don't go down in a shortage, and housing shortages don't end quickly.
You did not mention if you already own a home, and what you plan on doing with it if you buy a new one.

33 Indiana Jones   ignore (0)   2017 Jul 21, 5:55pm   ↑ like (0)   ↓ dislike (0)     quote        

I suggest driving through the Windemere area in San Ramon to get an idea of what your neighborhood may look like in a few years.

I am not sure what your ethnic make-up is, but it may be a consideration as there potentially will be many high income and high education ethnic newcomers who will be probably purchasing these homes (most likely). My experience with this is not that it is bad, it just might not be very diverse.

What kind of neighborhood do you want to live in for $1.4 million dollars?

34 RealEstateIsBetterThanStocks   ignore (1)   2017 Jul 21, 7:42pm   ↑ like (0)   ↓ dislike (0)     quote        

plenty of opinions at this site although not necessarily "expert."


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