How is the appreciation expected for buying a home in Fremont vs Cupertino high school area?

Q. We are looking to buy a home in good school districts and we have Cupertino/Fremont in mind.
1. Can some one explain the pros/cons of buying in Cupertino vs. Fremont?
2. With very good api scores in Fremont, why are the home prices way less than Cupertino area? Will they appreciate in the future? Also, I have noticed that town homes in Rivermark are expensive than SFR in Fremont good school areas. Is it because of the Rivermark homes being new vs Fremont homes being old? If so, Cupertino even though they are 40 year old homes they are still priced more than the Fremont homes. Why is that?

a) Is demand only factor which drives prices higher in Cupertino?
Demand is definitely a key component. Commute to tech hub of Apple, HP and others makes it a highly desirable area as well of course, recognized schools. Many relocation clients simply go to Cupertino first because if they are not familiar with the area, they know they have a short commute and great schools. IMHO, Cupertino itself is one of the best examples of urban sprawl in our area. Not very walkable, lots of franchise based food and retail (although more ethnic diverse restaurants are making headway) and triangulated by three highways. But, based on Apple’s recent decision to build a new campus I don’t see the desire for Cupertino going away anytime soon.

b) Are there any factors other than shorter commute and demand which differentiates East bay and peninsula
Prestige?
Commute to San Francisco (although that is a perception not reality because of East Side Bart). More greenery? East Hills are nice but brown most of the time. West Hills provide more green feel.

c) Any other major factors which differentiates peninsula from East Bay living
Both sides have some incredible public parks and open space which really make them great places to live. Proximity to other walkable hubs goes to the peninsula (Mtn View, Palo Alto, Stanford, Los Altos etc…) But big houses in more affordable ranges goes to the East Bay. Get away from the hustle and bustle could go to either peninsula or East Bay anytime you get up in the “hills”. I am not sure, but I believe the property taxes for Alameda County may be less than Santa Clara? Transfer taxes on purchase may vary (Fremont no transfer tax but many Santa Clara County cities do.) Also look at who is responsible for paying what in a closing transaction. Alameda – buyer pays escrow title (customary) whereas Santa Clara seller pays.

Got a real estate question? Talk to CJ!

Tags: , , , ,

Top