Palazzo at Montague (KB Homes) (Milpitas: city hall, rent, condo)

[manjubshetty]

Hey,

We are look into buying condo in Palazzo at Mantague.

Palazzo at Montague - Milpitas, CA | KB Home

i could not find any specific info about it in the forum, so starting this one.

Please add any info you could think of. I want to know your general opinion about the location.

here is the location:
https://www.google.com/maps/place/KB...1f3c3aece15a4a

how bad is the odor?

there is a bart track next to the community. is it bad?

new bart station is walkable distance. does this help in property value appreciation?

They are quoting 700K. is it worth it?

Any info will be helpful.

Thanks!

[nagleepark]

I know somebody who lives near (but not exactly) there.

I haven't smelled any odor over the years that I've visited him.

The BART track next to the community will be an annoyance to people in the community living right next to it but, if you select your lot on the other side of the community from the BART track, you should be pretty well insulated from any issues. Being in walking distance probably won't help much with property value appreciation.

I've bought newly built houses and older houses. I know exactly why a new house interests you. I don't blame you for being interested in new construction. But, new construction ages and, a few years down the line, the community might look lousy. You have to be aware that creating a new community out of a grab bag of strangers can sometimes not work out, especially as your fellow owners sell (because of their shaky finances) or rent their properties out. Also, new construction can be a lot of hassle to go from "done with defects" to "done". Of course, it can work out great, too.

$700K is probably an OK price. Don't expect a lot of appreciation, though. Buy it because you want to live there, not because it is a great investment.

[fashionguy]

I am not a big fan of these newer 3-story floor plans. Each floor is very narrow and long and feels like a hallway. Not much to work with if in the future you want to change the floor plan.

You also have to pay premium for it being brand new. The same as buying a new car. What appreciates for a house is always the land beneath it, no matter how small it is or how many people share it, and that never ages. The structure itself is no difference than a car. It depreciates in value when it gets older, and you pay premium when it is brand new.

Originally Posted by manjubshetty

Hey,

We are look into buying condo in Palazzo at Mantague.

Palazzo at Montague - Milpitas, CA | KB Home

i could not find any specific info about it in the forum, so starting this one.

Please add any info you could think of. I want to know your general opinion about the location.

here is the location:
https://www.google.com/maps/place/KB...1f3c3aece15a4a

how bad is the odor?

there is a bart track next to the community. is it bad?

new bart station is walkable distance. does this help in property value appreciation?

They are quoting 700K. is it worth it?

Any info will be helpful.

Thanks!

[jk88cal]

Unfortunately, you will be able to smell the odor at this location. For around 6 months period, I visited this area (Abel and Great Mall, just south of this location) once a week, every week, after work for pick up. The smell is definitely present in the late afternoon around 6 o'clock. During hot days, it can be bad. In the spring when weather is mild, I can smell some odor but hardly noticeable.

I would think Bart station is positive general. I do notice Bart stations do attract homeless in other cities. Not sure if homeless are already present and they get attracted to Bart stations; or Bart stations attract homeless from nearby cities. So not sure how that will impact Milpitas Bart.

As for noise, this area is quite close to I-880 and you probably will be able to hear the freeway noise. I don't think Bart noise will be an issue, since Bart trains only run once every 10-20 minutes.

Similar comment as fashionguy. The value in the Bay Area is in the land, not the house. So buying typical SFH is worth it, compared to buying Condo, Townhomes, or 3 story SFH with tiny lot. If you can accept older homes, such as 50-year-old SFH, then you have options and locations, for $700k. If you must have new, then your choices are limited.

[manjubshetty]

Thank you for the inputs!!

There was mistake in the location link i posted. Here is the correct location. this is around 1.5 miles south-east of the location i originally posted

https://www.google.com/maps/place/13...f57024a5a79e62

[nagleepark]

Before you buy, drive over to the area early, check it out, wait until the time that you would start your commute if you lived there and then commute to your work. For bonus points, drive back to the potential location after you finish your day at work. You'll learn a lot about your potential commute and its problem spots and you get the see the area in the morning and the evening (so you can spot homeless people or scary neighborhoods which may not come out on weekends or midday).

[dburbs1975]

nagleepark, that is excellent advice overall.

[vadaseri]

Manju,

I know that area very well. Location is not bad. If you plan on living there for a long time AND if your work is in south bay AND if you are OK with a 3 story condo, then $700K is just ok. Don't expect much appreciation. For $700K you can buy a SFH if you go past 680 (Landess). There are many SFHs in $700K range within a mile from this location.

Are you looking at Plan 1? First floor is for garage and washer/dryer. So you always have to climb a floor to enter your home? Hmmmm. If you have small kids or old parents it may be an issue.

I am watching KTVU news right now and they showed the landfill issue in Milpitas. The landfill company is expanding the site and they are going to double the capacity which means more smell. The residents are complaining in the city hall, but the landfill company is going to proceed with the expansion since they are not violating the code.

[darkeconomist]

Originally Posted by jk88cal

Unfortunately, you will be able to smell the odor at this location. For around 6 months period, I visited this area (Abel and Great Mall, just south of this location) once a week, every week, after work for pick up. The smell is definitely present in the late afternoon around 6 o'clock. During hot days, it can be bad. In the spring when weather is mild, I can smell some odor but hardly noticeable.

I would think Bart station is positive general. I do notice Bart stations do attract homeless in other cities. Not sure if homeless are already present and they get attracted to Bart stations; or Bart stations attract homeless from nearby cities. So not sure how that will impact Milpitas Bart.

As for noise, this area is quite close to I-880 and you probably will be able to hear the freeway noise. I don't think Bart noise will be an issue, since Bart trains only run once every 10-20 minutes.

Similar comment as fashionguy. The value in the Bay Area is in the land, not the house. So buying typical SFH is worth it, compared to buying Condo, Townhomes, or 3 story SFH with tiny lot. If you can accept older homes, such as 50-year-old SFH, then you have options and locations, for $700k. If you must have new, then your choices are limited.

It's not THAT close to 880. You'll hear Montague and, maybe, Tasman, sure, plus the rumble of BART and the occasional freight train in a few more years, but not the freeways.

[manjubshetty]

Thank you for all the responses.

just as info for others following... we checked with city of milpitas planning. bart station planned is going to be underground. so we assume noise will be of less concern. Also we confirmed KB homes has donated around 1 acre land next to property to the city to build a park. But city has no plans of building it soon (may be after 5 years). intelligent move by KB homes... park is there but not there

Thanks!