Homes for Under $500K in the Silicon Valley

Judging from the number of new home sales, the market is picking up – largely because many homes are now priced lower than buyers could conceptualize just one year ago. Bargains are to be had everywhere, but the largest market for bargain shopping appears to be in San Jose – especially in the hard hit East San Jose area around Story Road and in the East Foothills.

Today, there are 246 single family homes listed on Redfin for $500K and under that have a minimum of 3 beds, 2 baths, and 1500 square feet.

Here are a few of the available bargains – for those who are looking:

274 BANGOR Ave San Jose, CA 95123 is a 3/2.5 home with strong potential, and a low price of $465K. It has an older yet spacious kitchen, a really nice backyard (it is on a 5044 square foot lot, and the home is 1546 square feet) – but the front could use some landscaping. The home is an REO, and is listed as “move-in ready”. This home’s location is highly desirable – Blossom Valley remains one of the better areas to own a home in San Jose. A little TLC and a few flowers out front, and this one could be a gem.

477 S 22nd St San Jose, CA 95116 is bargain priced at $499K – with 4 beds, 3 full baths and a dream kitchen. It has 2199 square feet and is new home – with a quaint older styling. Located close to downtown San Jose, it would be very commutable via highway 101, 280, or 87.

The front porch looks very 1930′s – comfortable, warm, and inviting. The home also comes with dark hardwood flooring, recessed lighting in the kitchen, granite countertops, and carpeted bedrooms. This home was built in 2006 – and everything looks shiny and new! It is located in an older neighborhood, but this area of San Jose appears to be gentrifying very quickly.

Last but not least, 690 ALBANESE Cir San Jose, CA 95111  is a 4/2.5 located in South San Jose which is selling for $475K. It is has nice curb appeal, and has a newer comp roof, tile flooring, and 1594 square feet of living space on a large 6,000 square foot lot.

It also has central air, a new garage door, and a fireplace in the family room.