[quote=no_such_reality][quote=bearishgurl]I forgot to add that a large portion of the driveways in Saratoga are asphalt and many of them in the listings I saw (even the concrete ones) are full of cracks. A (concrete) driveway of that size costs about $25K to pour today.[/quote]
I’ve being seeing that for three years in my neighborhood. Homes that have been owned for 40 years go up for sale at near market. they eventually come to reality and sell about 10-15% lower to one of the many investor flippers (last one I talked to had five investor offers first day. It then comes off market for 1-3 months and back on the market about 20-25% above their original listing.
I’ve watched home after home after home change hands.[/quote]
Where is this, NSR? Based upon your posts, I thought you lived in a newer area, with MR.
SD areas with “garden variety” 1940-1960’s tract homes don’t seem to turn over much (where the resale value might be $300-$600K). Perhaps this is because their owners have fewer choices in life and need to live there until they die (or until they can no longer take care of themselves).
