I am always out looking for deals for the first time homebuyer but these Silicon Valley home prices sure make it hard for your average Joe and Joanne to afford their first home. That is not to say that there are no great opportunities in this market. Just the other day I came across something spectacular. There is a complex in Blossom Valley area that was previously a rental complex. It has since been purchased by Equity Residential who turned this complex into for sale condominiums. If you have read my blog on condo conversions this is very similar. However, they did not tear the structure down to the studs; so they do not boast this complex to be a condo conversion.

One bedroom units start at just $299,000 and the two bedroom units are starting at $356,000. The Square footage ranges in size from 699-901.

Now I know what you’re thinking…….”I can already find units for this price”. You are right you can but these units are all completely remodeled in-side and out. Not just one unit in the complex but all the units have been remolded from top to bottom. This gives the look and feel of new construction and a new community. Equity Residential has gone to great lengths to see that the re-done clubhouse has top of the line exercise equipment. I found it to be styled very tastefully. When you walk into these units you too will be impressed!! You can enjoy granite countertops, stainless steel appliances, maple cabinetry, in home washer and dryer, and more all standard.

There is an outbreak of condominium conversions in the Silicon Valley as many of the new condos being marketed and sold were at one time apartment communities. Not The Woods type of apartment communities that are on acres of land but smaller properties that usually offer little living space. The type of housing that was needed for a fast growing Bay Area city at the time.

Although with the likes of the newer downtown developments that are coming up and the cost associated with these condos, it is great to see some affordable options still available.

San Jose condo conversions benefit many first time and lower income homebuyers. With prices ranging from the low $300’s to the high $500’s these are one of the most affordable options in the number one ranked, highest priced housing market in the US, Silicon Valley.

According to the NAR the Silicon Valley Median Home Price is $775,000. This is almost ten times the price of homes at the other end of the spectrum where Youngstown, Warren, Boardman, Ohio’s Median home price is only $81,500.

If you’re interested in San Jose condo conversions you had better act fast as they typically sell out quickly.