Increasing Your Homes Value

By -

What can you do to increase your homes equity by 50%?

The biggest factor in valuing a home is its neighborhood or more precisely its school. The biggest driver for a buyer is generally the quality of the school. And the way most buyers judge the quality of a school in California is its API score.

In Fremont, we have some of the best schools in the state based on API scores. However, the homes associated with Fremont’s Mission San Jose High School command a 50% premium over the other schools in Fremont, simply because the elementary, middle and high schools associated with this high school all score over 900 on the API scores. Here are the 2006 API scores for this Mission High School District: Four elementary schools are: Chadbourne 975, Gomes 989, Mission San Jose 991, Mission Valley 944), for the middle school: Hopkins 972), and for the high school (Mission San Jose 932). FYI 1000 is a perfect score.

Homes in the Mission Schools neighborhood sell between $500 to $750/sqft. These homes are generally old, and dated layouts and have lower ceiling heights than you would find in today's newer construction.

In other parts of Fremont, where only the elementary school scores above 900, and the middle and high school get a score in the high 700s the homes sell for $330-$500/sqft.

Similarly in Union City, West of Union City Blvd., where the homes are all newer construction (read modern more pleasing interiors), and associated with Delaine Eastin Elementary API 876, Alvarado Middle 768, and James Logan High School API 731. These homes sell between $360-$450/sqft.

These homes are close to 2/3 the price of the Mission San Jose School neighborhood, yet they are newer, in better condition and better kept neighborhoods.

If neighborshoods were to organize, and work with schools, teachers, and PTAs to create after school programs to help raise these school's scores above 900, they should be able to raise their API scores, thereby increasing the demand for homes in these neighborhoods and correspndingly these homes prices.

The best suited neighborhoods for this effort, would be communities that have a high percentage of the homes online, which makes communication easy, and neighborhoods where both parents are not working, thereby allowing the free parents to be volunteer time to help her kids and others.

It's never been attempted before, but worth an effort.

Comments

Post a Comment

Popular posts from this blog

Mission Lakes Neighbors Ask Union City Mayor and Council to ​Rethink East West Connector

By -
Tomorrow ​ (2/27/18)​ will be your LAST, but also BEST opportunity to stop the East West Connector as currently planned.   The city council was trying to rush this decision through quietly.  But this is now receiving the attention it deserves.  Mercury News blasts funding diversion from Rail to Highway: https://www.mercurynews.com/ 2018/02/26/union-city-looks- to-divert-75-million-in- public-transit-funds-for-new- 320-million-road/ Bike East Bay declares Opposition to East West Connector Proposal: https://www.mercurynews.com/ wp-content/uploads/2018/02/ bike-east-bay-opposition-to- east-west-connector-proposal. pdf East Bay Times provides additional information on UC fiscal emergency: https://www.eastbaytimes.com/ 2018/02/22/union-city-council- to-weigh-fiscal-emergency- declaration/ The East West Connector has been on the books since the 60s and reflects the thinking of that era.  This $320M road is oversized.  This 90ft wide road will cross the Old Alameda Creek twice and will const...
Read more

Fremont's New Housing Legislation is another step in the right direction!

By -
Image
Fremont has now taken another step into the future, requiring that all new houses be delivered ready for the installation of electric-car charging stations.  According to the  East Bay Times , the city of Fremont has announced that any new housing project must include both solar panels and the electrical wiring required for the installation of a charging station Will this new legislation make the ownership of electric vehicles even more appealing to residents? Will Fremont turn into a zero-emission vehicle hub? http://www.greencarreports.com/news/1110317_solar-panels-ev-chargers-required-in-new-homes-in-fremont-ca Sunil Sethi  /  REALTOR,  Broker, MBA, CPA(inactive), GREEN Sunil Sethi Real Estate   38750 Paseo Padre Pkwy #B3, Fremont, CA 94536   www.sunilsethi.com BRE #01173766                              
Read more

Important Easement Information

By -
Image
  it's definitely worth being concerned about encroachments, especially in situations where someone is using a small portion of their neighbor's property without permission. Even if the neighbor is currently okay with it, there's no guarantee that they'll continue to be permissive in the future. It's definitely a problem that needs to be addressed prior to close of escrow. This is where property easements come into play, as they provide legal permission for someone to use a portion of another person's property for a specific purpose. It's important to understand the details of any easements that may be relevant to your situation, as they can impact your rights and obligations as a...
Read more