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Old 03-26-2019, 05:01 PM
 
2 posts, read 1,336 times
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How is the new construction 'Locale at State Street' in downtown Fremont.
It looks like they have townhomes and condos and the pricing seems to be quite high as compared to even older single-family homes in and around that area.

I had a lot of questions before I could think of buying a condo here. Would love if someone could chip in with comments or answers.

How do you think the downtown Fremont will shape up?
Do townhomes and condos in Fremont go up in value over time ?
Is it useful being next to a BART considering mu current commute does not require me to use BART ?

Benefits and disadvantages of new construction 2019 townhome/condo vs older(>30-40 older) single family homes ?

ZipCode : 94538

How are schools in this area? Redfin says at 6, 6 and 7 but personal experience is welcome.

Thank you.
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Old 03-27-2019, 06:05 PM
 
Location: Newark, CA
2,238 posts, read 4,909,996 times
Reputation: 3489
You should post this in the San Jose or SF-Oakland for more responses from locals.

With that said, I don't think there's any way to answer questions specifically about that development since it's new and nobody else lives there yet. Fremont has new multi-unit construction going up in many locations around the city. The real estate market has been nuts throughout the entire Bay Area but it is slowing down a little. It will be interesting to see how quickly these units get bought up since the city seems to be flooded with new developments right now.

I'm a little surprised that you're asking if condos/town homes go up in value in Fremont. ALL real estate eventually goes up in the Bay Area...it just depends on how much. There are too many variables involved. Fremont is a solid city though and is a good investment by Bay Area standards.

As far as the new downtown goes, it's been in the works for years but is coming along VERY slooowwwwly. When it will actually materialize is anybody's guess.

I'm sure others here could chime in about your other specific real estate questions.
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Old 03-29-2019, 12:32 PM
 
Location: NorCal
257 posts, read 171,987 times
Reputation: 339
Quote:
Originally Posted by saul_f9 View Post
How is the new construction 'Locale at State Street' in downtown Fremont.
It looks like they have townhomes and condos and the pricing seems to be quite high as compared to even older single-family homes in and around that area.

I had a lot of questions before I could think of buying a condo here. Would love if someone could chip in with comments or answers.

How do you think the downtown Fremont will shape up?
Had to tell. There have been many different plans and locations for a downtown in Fremont over the years. Now that it's in process, it is progressing very slowly. There is a lot more construction to be done in the area. So if you buy there, you will be surrounded by construction for years to come.

Quote:
Do townhomes and condos in Fremont go up in value over time ?
All properties eventually increase in value, doesn't matter if it's a condo, townhouse, single family home or an empty lot. How quickly it increases is unknown - property values throughout the Bay Area have been increasing steadily over the past several years. Demand has slowed down a bit the past few months. Whether that is a seasonal slowdown or an indication that the market has reached it's peak, no one knows for sure.

Quote:
Is it useful being next to a BART considering mu current commute does not require me to use BART ?
This is not right next to BART, it is about 3/4 mile walking distance. Your commute can change in the future, BART will eventually go south into Milpitas and San Jose. Couldn't hurt being close to BART, but I wouldn't specifically buy or not buy based on proximity to BART. In the 15 years that I have lived within walking distance to BART, I have used it less than 10 times.

Quote:
Benefits and disadvantages of new construction 2019 townhome/condo vs older(>30-40 older) single family homes ?
With brand new construction, you're obviously the first one using everything. Things will be new and should be in working order for quite some time. Anything that doesn't work properly should be covered under warranty. This doesn't mean that nothing will go wrong - I've heard of brand new construction with hot water coming out of the toilets, pipes leaking in the walls, appliances that quickly fail. But if this does happen, it should be covered under warranty at no cost to the homeowner. You're probably going to pay a bit more with new construction, but don't know how relevant that is in the Bay Area where everything is overpriced. Remember, in a community like this, you're going to have a HOA to put up with and walls and floors are usually not well insulated, so there will be noise from neighbors.

Quote:
How are schools in this area? Redfin says at 6, 6 and 7 but personal experience is welcome.

Thank you.
Public schools in Fremont are overcrowded and are decent at best. There have been plenty of private charter schools and Montessori schools that have popped up the past few years. So if you're into that sort of thing and can afford it, there are plenty to choose from. I can't speak to the quality of any of them. Good luck!
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Old 03-29-2019, 03:33 PM
 
Location: Silicon Valley, CA
11,494 posts, read 7,197,135 times
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Quote:
Originally Posted by CaliforniaPlaya View Post
Public schools in Fremont are overcrowded and are decent at best. There have been plenty of private charter schools and Montessori schools that have popped up the past few years. So if you're into that sort of thing and can afford it, there are plenty to choose from. I can't speak to the quality of any of them. Good luck!
FUSD is generally considered quite good in quality - there is some variation in the ratings, depending on the neighborhood, but they are facing resource issues - which is why the teachers did a sick out a couple of months ago and they still are negotiating a contract.

However, the private schools aren't necessarily better - you'll have to check - Fremont Christian School kids often will transfer to Mission or Irvington for high school, which tells you something.
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