patrick.net

@crazydesi how do you know they are selling fast?

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.

Also they are building 350 homes, in this community.

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.

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.

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.

crazydesi says

200 HOA.

That's high for SFH in Dublin.

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.

anonymous says

Are there Mello-Roos involved?

Definitely not.

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.

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

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?

http://www.tassajarahills.com/

www.youtube.com/embed/BUjnjXnMLw0

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.

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

crazydesi says

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

ouch!

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.

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

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!!

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

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.

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.

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.

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.”

anonymous 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/

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.

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.

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?

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