patrick.net

I am going to visit this property today

Sterling Square
By Taylor Woodrow Homes
10555 South De Anza Blvd. Ste. 115b
Cupertino Ca. 95014

Too expensive for a 1 HaHa salary.

surfer-x

don't know if you have been the San Jose lately, but a blanket brand name doesn't mean anything, because the local know the difference. The crime rate is different, the street feel, geography, median income of the neighborhood, school performance all vary significantly. It is ok that you don't know where Almaden or Santa Teresa is, because those who do get the good deals.

Generally speaking, in the South Bay, you would always want to be on the south side of 85, I call that the *right* side of the valley, the only desirable neighborhood that violates this rule is Los Altos, and I can tell you if you know the neighborhoods well, Los Altos to the north of 85 lives and feels very much like Mountain View, and therefore less desirable than foothill side of Cupertino, which is in fact reflected in housing price. And that's why Los Altos Hills is way better than Los Altos. The same thing applies to Saratoga, part of Saratoga north of 85 feels exactly like central San Jose, one can hardly tell the difference, that's why there is a very significant pricing difference between the *right* part of Saratoga and the part that just bears the brand name. If you are living in a place 24x7, you don't care about the brand name, you care about what the reality is. I would rather live in foothill Almaden than north Los Altos any time.

Almaden refers to this area bordering Los Gatos to the left, south of 85, bordered by Santa Teresa Blvd to the right. It feels like Los Gatos, and has the third best high school in South Bay after Gunn High and Monta Vista.

If you go down Almaden Expressway to McKean Road near Calero Reservoir in South San Jose, there are still lots of rural rolling hills dotted with vineyards, where minimum size of lot is 1 acre plus, and you can find increasing number of multi-acre custom estates. The area to the north of McKean are almost entirely gated communities with homes sitting on average 5-acre plus lots.

There is no pretence in going after a nice part of San Jose. Foothill Almaden homes are more expensive than comparables in the part of Saratoga north of 85, or the part of Los Gatos in the Campbell school district. If one is vane, one should most definitely buy the cheapest home in Saratoga just because the "address" is right, although all the locals know exactly what he is thinking.

Bay Area has been studied to death by lots of smart home buyers, if you look at the pricing difference of different pockets, it pretty much reflects the fundamentals rather than just superficial variance in brand name.

Michael,

the keyword is "western foothill". As long as you are anywhere along western foothill down the valley, you do fine.

Holiday, check this fool out

tinyurl.com/qwkoo

My favorite lines, My only problem is, I have no idea what people can afford. I know what my mortgage is and I already tried posting this house with a rent of $500 less than my mortgage. But still after 3 weeks, lots of emails and no one requesting to see the home and the ever classic flipper line New home built December 2005 for rent and/or lease purchase. Home can not be sold until January 2007! and the coupdegrace, It was actually my dream home so I upgraded it to the max, then I happened to find the home I really wanted. SO here I sit, with two homes..

Suck it long suck it hard you fucking greedy fuck.

and my email to the flipper,

You really should consider going into comedy rather than house flipping. I was just in Phoenix and after reading the papers all i have to say my friend is get ready to eat a big shit sandwich.

All I have to say is become fluent in the term "short sale"

Almaden refers to this area bordering Los Gatos to the left, south of 85, bordered by Santa Teresa Blvd to the right. It feels like Los Gatos, and has the third best high school in South Bay after Gunn High and Monta Vista.

San Hosebag is San hosebag is San Hosebag, there is no "almaden" it's San fucking hosebag. Try as you might to dress up that pig, but you'll only end up with a pig in a dress. ahhhh the pretense. How much you wanna bet fucks in Almaden never tell anyone they actually live in San Fucking hosebag. San Hosebag could only benefit from an above ground nuclear burst, that might help.

Check out this line:

please email me what you can afford

The problem is that I like to play half of what I can afford.

Peter P, i just got back from Phoenix and it's a fucking bloodbath there already, and there is a shitload of housing in the pipe. The local newspaper had this on the front page "unrealistic sellers clog market"

Let the street turn red with flipper blood.

OO, "Almaden" is similiar to "Austin" unless Ben loans you his helicopter, you step out of "almaden" and you are in a shithole, just like "austin" you step out side and you are in Texas.

Overheard last night at "Trendies" the latest hotspot in San Hosebag,

So Jared I hear you and Katlin sold your house in San Hosebag (Santa Teresa).

"Yeah, we really liked it, the area had great schools but we made a killing"

Did you buy another house yet?

"We found a great place in Almaden, great schools, plus 25% is already in the bag"

wow that's great, where is Almaden exactly.

uncomforable silence, cough cough fist over mouth....in a low voice.....san hosebag.

LILLL, well if not you're in for a real treat. Starting from the Coyote Valley, you'll notice a distinct "fuck you + tension" in the driving. after your 678th bag of garbage on the side of the road you have arrived in downtown san hosebag, "capital of silicon valley". San Hosebag has many great magnet schools. One offers functional metal working for gangbangers, another offers gun smithing, and still another offers day care for all the pregant teens. It has something for everyone. Plus they have an excellent light rail that goes absolutely no fucking where. It's a marvel of a modern metropolis. I'm thinking of buying a stucco shitbox for 1.3mil in "santa teresa". I hear 25% is already in the bag, plus they have great schools, which is important considering I'm going to sell in 2 years.

Surfer-X:

Good post.

Did you read my post about Phoenix? I want to spare you any illusions about Phoenix. There's good and bad. The heat is real bad. Etc. Read my post.

The Phoenix housing bloodbath is starting...

The king is dead, long live the king...

Peter P, i just got back from Phoenix and it’s a fucking bloodbath there already, and there is a shitload of housing in the pipe. The local newspaper had this on the front page “unrealistic sellers clog market”

I know. It is getting bad just outside google's orb of influence. :)

M. Holiday, could one endure say 3 years in the tempe/mesa area at a start up considering a possible pot of gold at the end of the rainbow? what are the areas to avoid? Are there sufficient trendy bars and/or eating establishments? And the 10million dollar question, is there any decent sushi?

One thing about Phoenix, outside of Monsoon season (late June to late August)...This place is the BBQ capital of the friggen' world.

Every day is a great day to BBQ (since it's always sunny & there isn't anything else to do).

I trimmed the Mesquite tree the other day and put the branches out on the side of the house to dry in the sun. I'm going to throw them on the grill and get that nice Mesquite flavor going for the steaks...

M. Holiday, there is a trader joes in Tempe, which is key, are there any decent upscale markets? I mean if I am going to go there I need access to at least 45 kinds of cheese :)

I'm not a big Sushi fan, but there's hell of restaurants in Scottsdale and some in downtown Phoenix and Tempe and especially Scottsdale.

Three years for the money? Definitely. But you're going to be hating life without the proper attitude about this place. You may have a honeymoon perior or you may not. Some people think this place is the arm pit of the world others love it. Scottsdale's pretty nice.

All in all, the desert beauty is nicer than Vegas, which looks like the moon.
You've got to decide for yourself.

If you want me to mail you any local publications, shoot me an e-mail: radioholliday@yahoo.com.

Here's a link to a local "Metro" type weekly called The New Times:
It's got a review of a Sushi restaurant.

I will say, near my house are a bunch of good chain restaurants like Black Angus, Carrabbas Italian, and others. Yeah, the restaurants kick San Jose's ass.

Click this link and scroll down till you see what I posted below for a Sushi review: http://www.phoenixnewtimes.com/

From the New Times:

Recently Reviewed
Circa 1900
Line Thai
Sushi Eye Bar & Grill
Sol y Sombra
Rosita's Place

M. Holiday, tanks! Tempe seemed ok, decent small downtown, college vibe, sluttly girls, which it important when picking a bar to swill gin with Mrs-X.

The popular place in Tempe is Mill Ave. near the Arizona State.

It's been a while since I've been there, but there's clubs/restaurants, etc.

There are decent upscale markets/grocery stores.

The upscale market in Phoenix is called AJ's Fine Foods. Great, pricey grocery store. Smaller than Albertson's but good, fresh stuff. They put them near pricier neighborhoods.

Click this link: http://ajsfinefoods.com/

LILLL, dopers were friends of acquaintance who owns boat, me no likey dopers. Got the ocean angle figured out, 1hr plane ride to san diegho. Friends couch, surfboards in stock and bike ride to beach.

Thinking might as well ride out the impending shitstorm in lower expence local.

I think the final analysis is this:

For surfer-x, could be three years in purgatory. 1-2 years might be doable, but you'd be like a fish out of water.

You must keep busy and keep the spirit of adventure and check out the whole state. There are cool old towns like Jerome up north (where Maynard from Tool lives), and Bisbee down south.

Then there's Flagstaff for skiing and mountains, then there's the Grand Canyon.

Dude, this place is the wild fricken west. You can walk around town with a holster and a gun, just as long as it's visible. Some stores will have you check your gun at the door. Thing is, since everyone can carry a gun, no one does! Haven't seen a gun strapped on in over a year.

In California, you'd be surrounded by the cops and shaken down and put in jail.

Last word on Phoenix, since I'm doing a BBQ right now:

Phoenix is the 5th largest city in the U.S. As a top-10 metro area, it's got a lot of restaurants.

'Nuff said...

Just visited the property, corner lot, 1350 sq ft, 3bed/2bath ==> 750K

So they just dropped from 914K to 750K and below !!

You must be kidding. I do not believe that.

But if that is true... let's have a beer! :)

LOTUS = 1350 sq ft, 3 bed, 2 bath, corner, 3rd floor

3rd floor? Is it a condo?

I think you visited Villagio instead.

http://www.silverstonecommunities.com/californianorth/villagio_plans.html

Ha Ha,

I think Peter P is right, didn't see your Lotus floorplan in the previous thread, must be the villagio.

The smallest flooplan from your previous thread is 1670.
http://www.taylorwoodrowna.com/index.cfm?method=Homes_CommunityDetail&divID=1&MetroAreaID=24&CommunityID=175

Btw, what is the difference between a townhome and a condo? No neighbor above or below?

Is this price reasonable?

Reasonable?

I guess it is more reasonable than this one:

http://www.craigslist.org/sby/rfs/169198126.html

Will I pay 750K + 450/month for an 3/2 apartment? I rather not. But it is not the most outrageous thing out there.

At 6.75%, 450/month is the interest for 80K! Watch out for HOA fees!

Ouch, is it a normal nowadays that HOA costs so much? What are the amenities that they provide for this?

HaHa, are you buying?

Nope no buying for me in Az. Way too much downside, not looking for an investment, especially one that looses everything. If I like Az and stay I might by in late 07 or 08 when all the caliassfucks are out of the "market"

I am NOT buying JUST BECAUSE of HOA fee.

I will wait till 2008 … I am happy renting

Looks like 400-450 has become the standard HOA for condos. That number is around 200-300 for townhouses and 100 for SFH.

Honestly 750K is not that bad if HOA is around 200.

John Haverty Says:
Special Reports - Torch My Ride: Arson for Hire

hmm, JH displays a remarkable ability to argue against himself...

Why so high? Is there a justification or condo developers can set any fee at will? Can HOA increase in future? Does it include utility bill?

Two major maintenance items: elevator and swimming pool.

That complex has both.

Rest assured that HOA will increase in the future. Also, homeowners can be hit by huge assessments (new roof, new sidings, etc).

That complex has both.

Oops, it does not even have a pool. Why is the HOA so high?

You and (the delightful) Mrs. X have the luxury of not having to pull a kid from his ‘perfect life” to do this. However…if she has her way…you may not be childless for long!

Ouch.
Now, Linda, that was harsh. You do want Mr. X to invite you back, right? :-)

I saw this exact same comment on Fark tonight … word for word. What the heck?

hmmm

John, you’re an engineer. What was that nonsense about the exorbinant energy consumption to produce my bike?

i dunno, frify, but he'll argue about it with you.

are you getting an aerorider? (innocently)

interesting point about commutes, though, one solution is to buy a place to stake the equity, but then go on to rent elsewhere as work requires. in oz, you get tax breaks to the point where it can be cheaper to buy 1 place and live in another than live in the place you're paying off -- IF you bought before the boom.

michael mobbs, a guy who designs 'green villages', points out that the construction contractors have to travel from all points of the compass to make some supposedly green, energy-saving development, therefore adding significantly to the 'embedded energy' cost of construction.

Guys,
Hate to change the topic for a minute, but I had a kind of revelation this weekend. To cut to the point and get the embaresessing stuff out of the way, I somehow got convinced to go to a timeshare presentation. I'd never been to one, so what the heck?
Needless to say it was absolutely useless and I was jabbered at for over an hour by this poor salesman. I actually felt kind of guilty for going.
Now... Here's the DOOZY. The company that ran the timeshares is owned by a company called Cendant Corporation. Perhaps some of you guys that trade stocks are very aware of them. I'd never heard of them. What's interesting to me is that Cendant owns an enormous amount of timeshares around the globe. But that's only a small fraction. They also own Caldwell banker, 21st Century, ERA, Sotheby's International, NRT, the biggest broker company in the U.S, the resource group, the biggest provider of titles.
In essence, Cendant owns enough major RE and mortgage related companies to have an almost virtual monopoly on the entire RE industry. It is not easy to find any of this information on their site. By reading a few investor articles, I found this one, which to me is the writing on the wall:

"Realogy Corporation is anticipated to launch as a standalone, publicly traded company by the end of June 2006. This new company will be formed from the previously announced spin-off of the Real Estate Services Division from Cendant Corporation. Realogy will be comprised of four complementary businesses:

* A global real estate franchisor of industry-leading brands
o Century 21®
o Coldwell Banker®
o Coldwell Banker Commercial®
o ERA®
o Sotheby's International Realty®
* NRT, the largest U.S. residential real estate brokerage company
* Cartus, the world's premier employee relocation company
* Title Resource Group, a leading U.S. provider of title, escrow and settlement services

As the leader in size, scope and resources, Realogy will be well-positioned to take advantage of the favorable market dynamics that drive the real estate industry, including U.S. residential real estate market demographics that will drive strong, long-term housing demand; international expansion opportunities for both relocation and franchising; and emerging technology that will support sales and grow market share."

You can read more about it here: http://www.realogy.com/

Now... I know that starting a conspiracy about this is only too easy. But seriously- could this be the true smoking gun?

George,

Well exactly. I suppose we had best be prepared b/c as the bubble inflated we had specuvestors drooling all over us with how they were going to spend the money, now we're going to have to do plenty of "hand holding" on the way down! Well I for one refuse. I cannot make everything right in your world Mr. Specuvestor so why waste your time and mine! Take your lumps like a man and move on to your next incredible humiliating disaster. I only charge $200 for a complete financial plan (which btw does not advocate the use of the "debt=wealth model). While Prudential (I believe) charges $1,500 PER YEAR I am relatively cheap but no, you can not bitch and moan at me for free. Sorry Mr. Specuvestor. I mean look at his ROA. $1,000 a month in rent collected minus $150 HOA, minus $200 a month in property taxes, minus 6% rental manager fee = $590 TAXABLE freaking dollars. So his ROA is what, 3.12%? Freaking pathetic. (Assumes asshat paid $225,000) Don't waste my mutha f@ckin time*

*From Al Pacino in the movie "Heat".