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Post by monicad on Apr 10, 2018 3:22:30 GMT
 A less than 6,000SF lot WITH a burned house that needs to be demolished before you can even do anything. I’d like to say this is a late April Fool’s joke, but sadly...it’s not. |
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Post by mom on Apr 10, 2018 3:24:36 GMT
oh wow! Thats crazy.
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Post by lucyg on Apr 10, 2018 3:27:25 GMT
Yep. But I gotta say, I’m in the North Bay and that burned out house is worth more than my nice, healthy 1800sf house with a big yard.  The Valley is frighteningly high priced. Also the city, and Berkeley, and Marin Co., and the East Bay hills, and the Peninsula ... |
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Post by refugeepea on Apr 10, 2018 3:29:03 GMT
Lots in my state are listed by acreage. I have to use one of those conversion calculators to get a visual idea of what that looks like. Which is dumb because houses are listed by square feet but their typically two stories.   Anyway, it seems like an okay sized lot for that area. My lot is over 8000 square feet. That sounds much better!  |
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PrettyInPeank
Pearl Clutcher
Posts: 4,691 
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Post by PrettyInPeank on Apr 10, 2018 3:49:57 GMT
Yep. But I gotta say, I’m in the North Bay and that burned out house is worth more than my nice, healthy 1800sf house with a big yard. The Valley is frighteningly high priced. Also the city, and Berkeley, and Marin Co., and the East Bay hills, and the Peninsula ... My friend keeps putting offers on homes (tiny condos) in Fremont in the 600k range and is being outbid by the 100k range. East Bay is insane right now. |
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Post by beaglemom on Apr 10, 2018 4:05:05 GMT
There is a house coming soon on Zillow that I'm watching to see what happens with it. 2 bedroom, 1 bath, 670 sqft. 1.99 million.
Fingers crossed the market stays hot another couple months. We are hoping to put our old house on the market in May.
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smcast
Drama Llama
Posts: 5,501
Location: MN
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Post by smcast on Apr 10, 2018 4:07:25 GMT
Wow! I could have a dream home here for that kind of money, but not in my budget.
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Post by cadoodlebug on Apr 10, 2018 4:08:40 GMT
We were looking on the MLS this afternoon at houses in our old town and commented that a house listed at $1,005,000 for 1800 sq feet sounded really low. I'm guessing they will have multiple offers and it will go well over listed price. |
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Post by beaglemom on Apr 10, 2018 4:08:41 GMT
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Post by lucyg on Apr 10, 2018 5:14:41 GMT
Stop it! You're torturing me! |
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LeaP
Pearl Clutcher
Posts: 3,939
Location: Los Angeles, CA where 405 meets 101
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Post by LeaP on Apr 10, 2018 5:29:48 GMT
Tear downs go for about $655,000 in my neighborhood in L.A. They built a $1.8 million monster down the block and the new owner parked his Rolls on the street. They were a little bit shady and left abruptly, the house rents for $14,000  |
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Post by Just Beth on Apr 10, 2018 5:35:24 GMT
Yep. But I gotta say, I’m in the North Bay and that burned out house is worth more than my nice, healthy 1800sf house with a big yard. The Valley is frighteningly high priced. Also the city, and Berkeley, and Marin Co., and the East Bay hills, and the Peninsula ... My friend keeps putting offers on homes (tiny condos) in Fremont in the 600k range and is being outbid by the 100k range. East Bay is insane right now. That’s why so many people move farther to the Central Valley and have insane commutes to SF and San Jose. This is good for our house value here but really bad for traffic 😐 205 to 580 is awful even after being widened. |
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Post by jlynnbarth on Apr 10, 2018 5:52:22 GMT
Do the people buying these houses (I looked at the sold comps on the 671 sq ft coming soon house) really make enough money to cover a payment that high? I just can’t fathom it. We have decent jobs and we couldn’t afford the property taxes let alone the mortgage. I wouldn’t even want to. It’s just doesn’t make sense to me. Don’t get me wrong. I love California. I’m from California (San Diego) originally. I guess I’m just too old and remember when a house that size sold for 100k or less. My brain wouldn’t ever “let” me pay that much.
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Post by papersilly on Apr 10, 2018 6:04:21 GMT
This doesn't surprise me at all. It's the same way here in LA. It's not the house, it's the location. $799k would be a steal around here even with a burned up house.
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maryannscraps
Pearl Clutcher
Posts: 4,798
Aug 28, 2017 12:51:28 GMT
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Post by maryannscraps on Apr 10, 2018 11:28:40 GMT
Do the people buying these houses (I looked at the sold comps on the 671 sq ft coming soon house) really make enough money to cover a payment that high? I just can’t fathom it. We have decent jobs and we couldn’t afford the property taxes let alone the mortgage. I wouldn’t even want to. It’s just doesn’t make sense to me. Don’t get me wrong. I love California. I’m from California (San Diego) originally. I guess I’m just too old and remember when a house that size sold for 100k or less. My brain wouldn’t ever “let” me pay that much. The tech industry pays really high salaries. Which apparently don't go very far. |
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Post by destined2bmom on Apr 10, 2018 11:44:37 GMT
Oh my, I believe it. That zip code was very close to ours in San Jose. And the last time we checked our old house was worth $1.6 million for 2024 square feet house on an 8000 + square foot lot.
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Post by Really Red on Apr 10, 2018 11:50:02 GMT
I was looking at colleges this weekend and someone flew out from San Francisco and was telling me it was cheap - only $300 RT. I mean that's cheap to go to Europe, but not cheap for my kid to fly back and forth to school!
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Post by fredfreddy44 on Apr 10, 2018 14:43:17 GMT
Yes our south San Jose neighborhood has officially gone over the million mark average. Houses put up for 999,998 are selling for 1.2 or 1.3. My parents house in Almaden in worth 1.7 and climbing.
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Post by monicad on Apr 10, 2018 14:52:06 GMT
My friend keeps putting offers on homes (tiny condos) in Fremont in the 600k range and is being outbid by the 100k range. East Bay is insane right now. That’s why so many people move farther to the Central Valley and have insane commutes to SF and San Jose. This is good for our house value here but really bad for traffic 😐 205 to 580 is awful even after being widened. I️ keep wondering where “average” people are supposed to live? Service industry employees, teachers, tradespeople...the Central Valley is becoming the only option. While the tech industry brings a lot of money in, those are the people that support our basic infrastructure and keep our cities running; they shouldn’t have to spend half of their income on commute costs. It’s so sad, especially for people (like us) who have lived here most of our lives. |
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Post by pierkiss on Apr 10, 2018 14:54:55 GMT
Gtf outta here! INSANITY! 😱
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Post by buddysmom on Apr 10, 2018 17:19:09 GMT
DS lives in Silicon Valley and says anything less than 1 million is considered a "tear down."
Here 1 million will get get you a brand new house with all the high end extras and about 5000-6000 square feet.
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Post by ntsf on Apr 10, 2018 17:21:05 GMT
our teachers can't live here.. $70,000 is poverty wages... my son, the current bartender, is moving into a new place.. rents have gone down. he and his girlfriend are sharing a 1 bedroom for $2500 a month. he could not do it without us cosigning. which we are happy to do. he is working on getting into the electrician's union.that is very competitive but he is trying.
our house went up 24% last year. we are just not selling. and will stay here in retirement.
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Post by busy on Apr 10, 2018 17:34:03 GMT
In San Jose last year, homes “earned” $99.81 a working HOUR in equity.
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Post by papersilly on Apr 10, 2018 17:51:22 GMT
it' amazing how the rise in home equity can equal or surpass a person's annual income. i know for sure our house makes more money than i do and it just stays home all day long and does nothing. LOL
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Post by scrapbookwriter on Apr 10, 2018 17:55:31 GMT
Out of curiosity I looked up my parents' former home in the East Bay, a suburb in the Oakland area.
My parents paid $15,000 for their 1100 sf home in 1956.It's now worth over $700,000. Zillow notes that the value has increased $19,000 just in the past month!!
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~Susan~
Pearl Clutcher
You need to check your boobs, mine tried to kill me!!!
Posts: 3,259
Jul 6, 2014 17:25:32 GMT
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Post by ~Susan~ on Apr 10, 2018 18:34:47 GMT
Holy Freakin' Cow! I knew housing and cost of living was high in California (my father lived there years ago), but this is just CRAZY!!!
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Post by fredfreddy44 on Apr 10, 2018 19:27:52 GMT
For fun I looked up my aunt's 2000 sq ft 60 year old home is Los Altos:
3.6 million!
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Post by Clair on Apr 10, 2018 19:44:55 GMT
That’s why so many people move farther to the Central Valley and have insane commutes to SF and San Jose. This is good for our house value here but really bad for traffic 😐 205 to 580 is awful even after being widened. I️ keep wondering where “average” people are supposed to live? Service industry employees, teachers, tradespeople...the Central Valley is becoming the only option. While the tech industry brings a lot of money in, those are the people that support our basic infrastructure and keep our cities running; they shouldn’t have to spend half of their income on commute costs. It’s so sad, especially for people (like us) who have lived here most of our lives. California is trying to create affordable housing. Housing Bills. This is has been a huge controversy in my town. Im torn on this issue - some people need affordable housing but I don’t want low cost housing or apartment buildings in my neighborhood to bring down my housing values. My town is trying to cram in high density housing in residential areas without looking at the infrastructure and impact on current residents. This issue needs planning and balance -not just build and hope for the best. |
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Post by papersilly on Apr 10, 2018 20:10:36 GMT
California is trying to create affordable housing. Housing Bills. This is has been a huge controversy in my town. it's a controversy in many places. my friend lives in a city that wants to impose rent control. residents are opposed to it because they say no one will ever leave their rent controlled homes and less houses will be available. other cities are requiring a certain percentage of apartments in a complex to be for low income but that just means the majority will be uncontrolled, high rent apartments. |
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Post by Clair on Apr 10, 2018 21:02:13 GMT
California is trying to create affordable housing. Housing Bills. This is has been a huge controversy in my town. it's a controversy in many places. my friend lives in a city that wants to impose rent control. residents are opposed to it because they say no one will ever leave their rent controlled homes and less houses will be available. other cities are requiring a certain percentage of apartments in a complex to be for low income but that just means the majority will be uncontrolled, high rent apartments. Exactly. Rent control proposed here too. |
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