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A reasonably priced house?

By FormerBear   2012 May 5, 3:54pm   2,341 views   6 comments   watch (1)   quote      

For those living in bay area, what do you think of this listing?
http://www.redfin.com/CA/San-Jose/4687-Holycon-Cir-95136/home/865496

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1   supersunken     2012 May 5, 4:26pm  ↑ like   ↓ dislike   quote    

Are you planning to live there or for investment property? Look up crime reports for this address. You have like 0.5 mi radius of safety. Reasonably priced home for the "barrio". Look at the description on Redfin. "Great first time buyer, investor or move up property."

This basically translates to great for first time buyers who can't afford the bigger down payments in a better neighborhood. An investor who just looking to rent out for income, or move up from an apartment since this mortgage is cheaper than rent.

At the peak it sold for over 500k. You can't expect to see this again anytime soon.

2   FormerBear     2012 May 5, 5:08pm  ↑ like (1)   ↓ dislike   quote    

supersunken says

Are you planning to live there or for investment property? Look up crime reports for this address. You have like 0.5 mi radius of safety. Reasonably priced home for the "barrio". Look at the description on Redfin. "Great first time buyer, investor or move up property."

This basically translates to great for first time buyers who can't afford the bigger down payments in a better neighborhood. An investor who just looking to rent out for income, or move up from an apartment since this mortgage is cheaper than rent.

At the peak it sold for over 500k. You can't expect to see this again anytime soon.

I see, well, I believe that if one decides not to pay $1 milion for a similar Cupertino house, than one has no choice than the "barrio". Or one can choose to buy a manufactured home, or rent. Or move out of Bay Area altogether :)

3   Patrick   1801/1801 = 100% civil   2012 May 6, 4:50am  ↑ like   ↓ dislike   quote    

I think it's pretty reasonably priced compared to renting the same thing:

http://patrick.net/housing/calculator.php?uaddr=4687+Holycon+Cir%2C+95136

4   thomas.wong1986     2012 May 6, 9:22am  ↑ like   ↓ dislike   quote    

FormerBear says

I see, well, I believe that if one decides not to pay $1 milion for a similar Cupertino house, than one has no choice than the "barrio". Or one can choose to buy a manufactured home, or rent. Or move out of Bay Area altogether :)

$1M Cup home (old) with 1100-1500 sq ft isnt similar to a $1 SJ home (modern) at 3-4K sq ft. at Silver Creek. To pay that much in Cup would be foolish given the alternative.

http://www.redfin.com/CA/San-Jose/1630-Heritage-Bay-Pl-95138/home/1618814

5   New Renter     2012 Oct 5, 2:57pm  ↑ like   ↓ dislike   quote    

Sold for $389 on 7/9

6   New Renter     2012 Oct 5, 3:03pm  ↑ like   ↓ dislike   quote    

I know the area quite well. Good parks, quiet neighbors (most of the time), good access to shopping and freeways, underground power. The bad? airplane noise, some train noise, some very poorly maintained homes. Still better than a lot of Santa Clara and Sunnyvale.

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