Rivermark Homes & Real Estate » New Developments

Negotiating a New Construction Townhome in Mission Place

vbrasil — Thu, 18 Mar 2010 18:01:29 +0000

Front of Mission Place townhomes in Santa Clara

The Citation Homes development, Mission Place currently has about 12 townhomes left. As the market has picked up the development has been slowly but consistently selling and closing units. I currently represented some buyers, a couple relocating from out of state, in a purchase of their plan 3 model.

The unit my clients were interested in was available for purchase in the $640,000 range. For those of you who are not familiar with Mission Place, the units are air conditioner ready but do not include air conditioning in the sale price, along with refrigerators, and washer and dryer units.

Many buyers may not be aware of this but Mission Place like many other developments in this market accept offers on their units and are willing to negotiate the price and amenities. The important thing is to know where to start on your price, and this is where a real estate agent who knows the area can assist you in negotiating a good price.

Another important aspect of having your own representation is to have someone who can advise you on your rights as a buyer and what to expect. Many of these developments do business their way and are very rigid, they don’t want the buyer agents involved in the transactions at all. Its important to have an experienced agent who has done these sort of transactions with you to help you to understand your rights as a buyer, understand the contract that you are entering into, what to look for in these properties, and making sure you’re protected throughout the transaction.

In the end my buyers were sucessful in getting the amenities they needed, Air Conditioning, Washer and Dryer, and Refrigerator all within their price range. To be honest it was the best option for what they were looking for and the right price. I’m thrilled to see that they are happy and excited to move in.

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Mission Place Townhomes Santa Clara – Rivermark

vbrasil — Sun, 10 May 2009 04:56:02 +0000

Citation homes is up to it again, developing town homes this time in Santa Clara 95054 area which has become synonymous as Rivermark. Citation homes has built surrounding properties such as the condo development next door Mission Terrace and the the Mission Gardens town homes on Lafayette.

These town homes are nothing unique, they are the typical 3 level townhomes that we have become accustom to in the Santa Clara Valley. First level garage and bonus room or foyer to the stairs. Second level is the kitchen and living area and bedroom and top level 2 bedrooms suites, and a “private patio” which I consider neither private or large enough to be considered a patio.

The Mission Place development keeps it simple offering just three floor plans. Plan 1 is a 1,645 sq ft plan, it is unique because it features a bedroom on the same level as the kitchen. Although this limits the living area it is an advantage for those who want to have an office or bedroom on the same level as the kitchen. The home features two suites on the top floor and the only major detractor is the tandem garage, with already limited guest parking this will be a major resale issue. This floor plan is starting in the high $500K.

Plan 2 is a 3 bedroom 3 and a half bath 1,845 sq ft townhome. It features a downstairs bonus room whose functionality remains to be discovered with an oversized half bath. The second floor features a u-shaped kitchen, living area and bedroom with bath, and top level 2 bedroom suites. This floor plan has a 2 car side by side garage, prices start in the low $600K.

Plan 3 is a 3 bedroom 3 and a half bath 1,853 sq ft townhome which features another downstairs bonus room and half bath. The 2nd level kitchen and bedroom, and top level two bedroom suites. This floor plan also features a two car side by side garage. The major advantage of this floor plan is it is the only end unit designed plan.

The community does not feature any substantial ammenities, which for those who are money conscious will help reduce the HOA fee. The major downsides that I experiences are that AC is not a standard feature but an upgrade. The tri-level units AC is a must especially in the summer months on the top floor. The plan 1 and 2 have dark living or kitchen areas due to the lack of natural light. The amenities are typical of what most developers are offering these days; corian vanity tops, granite countertops, and stainless steel appliances.

Other issues are parking. A majority of the homes are tandem garage dwellings and there is very limited guest parking an little to no street parking. I feel parking will be tight and congest the community. Also there is talk about this development being outside the Rivermark School area which is another downside. Be sure to take these into consideration before considering purchasing a unit here.

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New Townhome Development Santa Clara – Bouldevard by Shea Homes

vbrasil — Sat, 25 Apr 2009 16:32:24 +0000

Shea Homes Townhome develoment Boulevard in Santa Clara

Shea homes has resumed development on their Boulevard townhome project project in Santa Clara. After leaving the project dormant for almost a year they have opened up their sales center and resumed construction. This is one of many new townhome developments in the Santa Clara and Sunnyvale areas that are available.

I visited the new Santa Clara townhome development a few months ago to take a look at the product. Being familiar with the area I remember the site when it was previously Underwriter’s Laboratory which occupied the current location. Although its not my favorite location in Santa Clara, I will admit that their are some advantages. Its very close to El Camino, Mervyn’s Plaza and other shopping. Unfortunately the Albertsons and Mervyns are now gone, but there remains other shopping and conveniences near buy especially for the ethnic Indian community.

Interior of Shea Homes Boulevard Model

The stlye of townhomes is tri-level with a rear garage, no back yard or limited private out door space. Similar to which Shea built in Rivermark a few years back. However, the floorplans are different. They offer three floor plans named after famous jazz musicians; Armstrong, Ellington, and Coltrane.

The Boulevard townhomes are quite versatile and would work for different individuals and life styles. The Armstrong has a first level bedroom and a top floor bedroom, with living area and kitchen on the middle floor. The Ellington has a downstairs den, which my experience is usually not as utilized, and two upstairs suites and again living area and kitchen in the middle floor. The Coltrane, has a 2-3 bedroom configuration. Two upstairs bedrooms and a first floor bedroom, with living and kitchen on the middle floor. Each have well designed living and kitchen areas. Bathrooms are not as large as their Rivermark counterparts but functional of course.

Don’t fall for the lavishly decorated models, those come at an upgraded price and your unit is not likely to look anything like that. Kitchen amenities are fine, with different styles to choose from, interior of the cabinets are still melamine. Another nice feature is the garages are all two car side by side, which make it very convenient and do not hamper resale like their tandem counterparts. And now that they have dropped their prices about 10 percent, it makes for a better deal. Amenities are simple, which I feel most prefer. A small park or plaza type area in the middle of the development, no pool or clubhouse but that will keep the HOA low, and I’m sure that’s more of what the homeowners are looking for. I would give the overall development a B- citing mostly location as a drawback and still feel price and incentives should be higher.Similar Posts:

How the California NEW HOME Tax credit Affects the Santa Clara Valley

vbrasil — Tue, 10 Mar 2009 04:08:16 +0000

California announced it’s own, $10,000 tax credit for any homeowner buying a new home between March 1, 2009 and March 1, 2010 regardless of whether they’re a first-time buyer or not. This comes on top of the federal first-time home buyer tax credit of $8,000 announced by the Obama administration as part of the federal stimulus package. Unlike the federal bill the California home buyer tax credit does not have restrictions on income qualifications, nor do you need to be a first time buyer to participate. The only restriction is that the home be new construction and be purchased between March 2009 and March 2010.

While it is still unclear exactly how the California Home Buyer Tax Credit program will work, here is what we do know:

Eligible on NEW homes purchased between March 1, 2009 and March 1, 2010 (must be new construction to qualify)
$10,000 credit paid in 3 annual installments of $3,333. Home buyers get the $3,333 off their taxes for the first three years after purchasing the new home.
No income restrictions, meaning that all home prices and incomes can participate.
Any home buyer buying a new home qualifies. You do not have to be a first-time buyer as in the Federal Home Buyer Tax Credit.
Pending escrows or recent home sales have not been determined to be eligible at this point, although it will be determined shortly.
The total credit is $100 million (h/t CR) which works out to 10,000 home sales that would qualify under the California Home Buyer Tax Credit program.

Politics aside, this seems like a bad idea for Santa Clara Valley. We have a fundamental problem of high supply and low demand in Santa Clara Valley, a very high proportion of which are older homes. This may take away buyers from those older homes and pursuade them to buy into new developments that should never have come to be.

From all the new developments out there: Summerhill – Village Square, Shea Builders – Mondrian, Shea Builders – Boulevard, Toll Brothers Verona, KB – Cannery Row, KB – Monte Vista, AXIS, Regency Homes – Gables End, Regency Homes – Altaire, 360 Residences, The 88, and City Heights. There have been price drops and incentives some better than others.

As a home buyer for a new development make sure you understand that you can write your own offer and negotiate the terms and conditions of what the builders sales department are quoting you. If you are not a good negoitator make sure your agent is, so you can get the best deal out there.

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