patrick.net

Good review, I like the point-by-point system!

Is this a good deal? Looking at the photos online, it looks like a tired complex. I'm thinking $100 a sq ft sounds about right.

To a first approximation, it's an OK deal:

http://patrick.net/housing/calculator.php?uaddr=150+Saratoga+Ave%2C+95051

Not great, not terrible.

I forget to mention, this condominium was converted from apartment complex some years ago, not sure when. Nice and green (park like complex), not too bad actually. http://www.redfin.com/CA/Santa-Clara/151-Buckingham-Dr-95051/unit-244/home/1242724

However, some neighbors have open and cluttered patios which I personally don't like.

Downsides
1. 450$ HOA
2. built in 1969

The world is so much bigger than Cali... Good luck

wow, its pending now

and not the only one

Our neighbors old couples (and our friends) stopped making payments last summer, their unit does not have any records on foreclosure.com, I wonder how many shadow inventory out there that are not reported by the banks?

still pending weeks later. i think realtors mark properties pending to intimidate buyers into bidding higher.

anon12366 says

still pending weeks later. i think realtors mark properties pending to intimidate buyers into bidding higher.

I would absolutely love to document cases of this here.

Please comment if this one (or any other property) goes UN-pending.

I get unpending notices through Redfin all the time.

"Status changed from pending to active".

The price is not $339k with the 450 HOA which you'll never be able to pay off. $450 x 12 = $5400 a year. Let's say yard work, maintenance, ect is $1400 a month you'd pay out of pocket if you owned a single family home. So you pay an additional $4000 a year. If the mortgage rate is 4% and you borrow 10k you pay $400 a year in interest.

4000 / 400 = 10. You're paying an additional $100k with the HOA included. So you're actually paying 439k for this place.

Crazy, two identical units:
151 Buckingham Dr UNIT 276
http://www.zillow.com/homedetails/151-Buckingham-Dr-UNIT-276-Santa-Clara-CA-95051/19601007_zpid/

150 Saratoga Ave UNIT 304
http://www.zillow.com/homedetails/150-Saratoga-Ave-UNIT-304-Santa-Clara-CA-95051/19601035_zpid/

listed for sale at the same time with the price difference ~ $170,000.
WOW. No wonder why so many here hate realtors, here the link to one who listed the first unit, cute :)
http://www.interorealestate.com/agents/MonicaCovington/qualifications

Realtor looks like she has nice boobs. ;-)

anon12366 says

still pending weeks later. i think realtors mark properties pending to intimidate buyers into bidding higher.

I would absolutely love to document cases of this here.

Please comment if this one (or any other property) goes UN-pending.

Why would a realtor mark it as Pending if it's not? If I were a buyer I wouldn't bother with Pending houses. a buyer can make a backup offer but it's a long shot and generally a waste of time. Pending doesnt mean "there's lots of offers", it means "offer has been accepted".

i know there's a lot of anti realtor hate here, but doing this would be against the seller's interests.

Looks like it didn't sell after being marked pending.

http://www.zillow.com/homedetails/150-Saratoga-Ave-UNIT-305-Santa-Clara-CA-95051/19601036_zpid/

Most of the "pending" properties are just an attempt by the liberal scumbucket constituency of California to create the fraudulent illusion of demand for their criminally overpriced housing market.

@patrick

jvolstad says

Realtor looks like she has nice boobs. ;-)

Good boobs alone can raise the selling price $20k.

Near $500 a month in HOA? LOOOOOOOOOOOL

SPARE ME.