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Post by busy on Nov 1, 2021 19:57:37 GMT
But I was wrong...
I've worked in tech for a few years now and know a lot of folks who live/work in the industry and are based in the Bay Area. I thought I'd become inured to the inflated salaries and real estate prices there. But $2.5 million for 833 sf? Insanity, no matter how convenient the location!
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Post by Clair on Nov 1, 2021 20:07:13 GMT
I’m no expert on the area but that house is very close to Castro Street and Google main campus.
My kid works In tech - 20 somethings are buying those houses. He’s looking in the area and that is what he’s been looking at.
It’s quite a shock for many people.
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Post by PolarGreen12 on Nov 1, 2021 20:08:50 GMT
Holy shit. That house would be less than $200k here.
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Post by busy on Nov 1, 2021 20:10:56 GMT
I’m no expert on the area but that house is very close to Castro Street and Google main campus. My kid works In tech - 20 somethings are buying those houses. He’s looking in the area and that is what he’s been looking at. It’s quite a shock for many people. Yes, you're right on the area. But this is high even for that area. Six different friends who live in general area and within biking distance of FB/Google campuses sent this out today because they were shocked by the price for the size.
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Post by ~summer~ on Nov 1, 2021 20:12:44 GMT
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Post by flanz on Nov 1, 2021 20:15:38 GMT
OMG! I live in Cali and am very aware of very high prices in our area and others, but WOW.
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Post by workingclassdog on Nov 1, 2021 20:15:51 GMT
It's really cute though.. I love it.. Good for a young single person, but obviously that makes a ton of money.. ha
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Post by papersilly on Nov 1, 2021 20:20:09 GMT
location location location
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Post by Clair on Nov 1, 2021 20:37:11 GMT
I definitely agree it is high. Since some are going back to work in person at the tech companies - some were expecting this surge.
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Post by epeanymous on Nov 1, 2021 20:37:22 GMT
It is funny, because about fifteen years ago, I went to a wedding in the area, and was in a hotel in Mountain View, and while I had heard that it was (at the time) a hot area (that obviously has gotten much hotter), I was really nonplussed by being there and couldn't see why anyone would want to live there (yes yes I know proximity to work).
There are a ton of places in the bay area I really like, but that is not one of them!
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maryannscraps
Pearl Clutcher
Posts: 4,731
Aug 28, 2017 12:51:28 GMT
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Post by maryannscraps on Nov 1, 2021 20:42:14 GMT
It doesn't even have nice finishes inside. The kitchen and bathroom are a big fat yawn. It's staged well, but take out that furniture and you have a contractor grade tiny house.
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Post by ntsf on Nov 1, 2021 20:50:51 GMT
I think at that price you are buying the lot.. lots of place to put a ADU or tear down or add on to current house. the prices have gone up. I know of a cute cottage--1910 or so. remodeled, but nothing extravagant 3 bed, 2 bath, tiny backyard, no garage near bart in the city. $2 million.
par for the course. from mountain view you could work down south or up to the city.
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Post by ntsf on Nov 1, 2021 20:51:28 GMT
I think at that price you are buying the lot.. lots of place to put a ADU or tear down or add on to current house. the prices have gone up. I know of a cute cottage--1910 or so. remodeled, but nothing extravagant 3 bed, 2 bath, tiny backyard, no garage near bart in the city. $2 million.
par for the course. from mountain view you could work down south or up to the city.
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Post by ~summer~ on Nov 1, 2021 21:03:30 GMT
It is funny, because about fifteen years ago, I went to a wedding in the area, and was in a hotel in Mountain View, and while I had heard that it was (at the time) a hot area (that obviously has gotten much hotter), I was really nonplussed by being there and couldn't see why anyone would want to live there (yes yes I know proximity to work). There are a ton of places in the bay area I really like, but that is not one of them! i totally agree. No offense to anyone in the South Bay or peninsula but that’s not where I would live. In my opinion most ideal places to live would be: in SF proper, Sausalito or more rural western Marin, Berkeley. Of course easy access to the office is another thing.
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Post by iamkristinl16 on Nov 1, 2021 21:09:11 GMT
What are the salaries of people there and how do they compare to other areas? I can’t imagine being able to afford that.
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Post by ntsf on Nov 1, 2021 21:17:16 GMT
salaries.. $2-400,000 but it is not just the salaries, it is the stock options... that is what many people use to buy houses and to retire...and if you have two people making those salaries..
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Post by busy on Nov 1, 2021 21:17:50 GMT
What are the salaries of people there and how do they compare to other areas? I can’t imagine being able to afford that. A friend and his girlfriend are both director level employees at one of the FAANG companies and they each make over $500k in base salary and around $1M/yr in total comp. Software engineers start at at about $180k/yr at FB and Google and Principal SWEs (highest level for an IC) make over $1M/yr at both. That’s salary only.
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Post by cadoodlebug on Nov 1, 2021 21:23:51 GMT
Yeah, it's nuts. When we sold our house in the Bay Area in 2017 we couldn't believe how much we got. Today it would be $500M - $700M more. However, we don't regret our decision to move then at all. But it is totally mind-boggling what these places are selling for.
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GiantsFan
Prolific Pea
Posts: 8,294
Site Supporter
Jun 27, 2014 14:44:56 GMT
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Post by GiantsFan on Nov 1, 2021 22:43:33 GMT
Check out this one link . A 328 sq ft bungalow sold last week for $1.025M, which was $37K over asking. ETA : The lot size is 3833 sq ft.
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Post by Spongemom Scrappants on Nov 1, 2021 22:58:02 GMT
It's as if we don't even live in the same country. Whoa. That amount would get you an amazing house and property in the upstate of South Carolina.
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Post by peasapie on Nov 1, 2021 23:11:18 GMT
I’m no expert on the area but that house is very close to Castro Street and Google main campus. My kid works In tech - 20 somethings are buying those houses. He’s looking in the area and that is what he’s been looking at. It’s quite a shock for many people. What are 20-somethings working in tech out there earning these days to afford these prices?
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Post by malibou on Nov 2, 2021 1:46:11 GMT
In a house that small, there is no way I'm devoting that much space to the laundry room. And where is the garage?
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seaexplore
Prolific Pea
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Apr 25, 2015 23:57:30 GMT
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Post by seaexplore on Nov 2, 2021 2:20:46 GMT
But I was wrong...
I've worked in tech for a few years now and know a lot of folks who live/work in the industry and are based in the Bay Area. I thought I'd become inured to the inflated salaries and real estate prices there. But $2.5 million for 833 sf? Insanity, no matter how convenient the location! It sold for a MILLION OVER ASKING!
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Post by wrongwayfeldman on Nov 2, 2021 3:37:14 GMT
Midwesterner here, and in my town this little gem would list for about 125,000. Maybe a bit more because it’s pretty updated for the size, but no more than 150.
I have to ask, what degree/career/salary does a “20-something working on tech” have that makes this house affordable? I’m so out of the loop with regard to salaries.
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Post by 950nancy on Nov 2, 2021 3:46:00 GMT
Over $3,000 per square foot. Yikes!
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PLurker
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Jun 28, 2014 3:48:49 GMT
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Post by PLurker on Nov 2, 2021 5:17:26 GMT
"super adorable" (per listing's description) is not what I'd expect for 2.5 million. Of course, I wouldn't expect anything as that $$$ is way out of my wheelhouse.
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finaledition
Pearl Clutcher
Posts: 4,896
Jun 26, 2014 0:30:34 GMT
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Post by finaledition on Nov 2, 2021 5:18:55 GMT
Midwesterner here, and in my town this little gem would list for about 125,000. Maybe a bit more because it’s pretty updated for the size, but no more than 150. I have to ask, what degree/career/salary does a “20-something working on tech” have that makes this house affordable? I’m so out of the loop with regard to salaries. Computer science. Definitely not one starting out, but you would live very comfortably in that profession. These aren’t just coding jobs, but to have a tech background in sales there is money to made. My dh (not a computer science major) but in the tech industry would urge women to pursue that as a degree. They are highly sought after and in some organizations, jobs are held open waiting for women to fill them.
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maryannscraps
Pearl Clutcher
Posts: 4,731
Aug 28, 2017 12:51:28 GMT
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Post by maryannscraps on Nov 2, 2021 11:53:36 GMT
Midwesterner here, and in my town this little gem would list for about 125,000. Maybe a bit more because it’s pretty updated for the size, but no more than 150. I have to ask, what degree/career/salary does a “20-something working on tech” have that makes this house affordable? I’m so out of the loop with regard to salaries. Computer science. Definitely not one starting out, but you would live very comfortably in that profession. These aren’t just coding jobs, but to have a tech background in sales there is money to made. My dh (not a computer science major) but in the tech industry would urge women to pursue that as a degree. They are highly sought after and in some organizations, jobs are held open waiting for women to fill them. My niece just graduated this spring as a computer scientist. She doesn't live in California, but starting salaries for her offers were upward of $150k.
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Post by busy on Nov 2, 2021 12:48:39 GMT
These aren’t just coding jobs, but to have a tech background in sales there is money to made. Software engineers at FB and Google start at almost $200k base, plus bonuses and stock and go up to over $1.2M salary. That's IC work, not management, not sales, just excellent developers.
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Post by jeremysgirl on Nov 2, 2021 13:02:04 GMT
Midwesterner here, and in my town this little gem would list for about 125,000. Maybe a bit more because it’s pretty updated for the size, but no more than 150. Same for my midwestern city. There doesn't even exist in my city a home for $1M dollars.
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