Wednesday, June 07, 2006

Villagio in Cupertino

The Villagio condo-townhouse building is the rival of Sterling Square townhouses and both complexes located in the downtown of Cupertino adjusted to each other. The complex's builder Silverstone Communities firm prefers code name "homes" for all complex residences, but the building has four stores and not all unites have a garage, so I would say that condo or townhouse are more fair names for eighty community units. The exact numbers are sixty eight condos and twelve townhouses.

The good news that Villagio is not as apartment conversion projects, but the brand new condo development based on rezoned and demolished structure. In addition to residential the building has five retail spaces on the ground level on street side. From the same side happy homeowners may enjoy mountain views and charming six lines De Anza Boulevard.

The expected price for Villagio in Cupertino starts from $550,000 per one bedroom unit and the price of three bedroom townhouse with attached two cars garage without a doubt would be almost equal to median price for single-family homes in Santa Clara County ($760,000 in March 2006). It seems very expensive for inexperienced home buyer who wants to buy something in attendance area of award winning Cupertino School District, but asked price on the second hand market for one bedroom condo is around $515,000 in the nearest three years old Montebello Cupertino condo complex. As far as I know the Montebello Cupertino was constructed as Verona apartments and later converted by owner Prometheus Real Estate company almost immediately after building structure and I would say that location of Villagio is much, much better, although complex would not have a pool. The HOA (homeowners association fees) equals $410 per month and not tax deductible as usual.

As usual about education, the kids will go to the following schools: Eaton Elementary (API score - 955), Lawson middle (API 958) and for high school students Cupertino High (API 812). All of them located within walking distance from condos, but one probably would need a bike to go to Cupertino High school. May be you do not have any kids right now and not going to have them for some time, but think how other people do care about kids and how it would affect resale value of your real estate property.

The one of the last thing I would like to say about complex is, why do Silverstone Communities named condo complex as Villagio with one "g"? The correct Italian spelling of this word is Villaggio and it sound and looks more adorable for the city with almost Italian name.

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  1. Bay Area home price trends

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