Went to see my uncle over the weekend in the Bay Area.
Here’s what an “affordable” house that recently sold in his area looked like. It was under $1million ($950,000) on the east bay (milpitas)….
We visit family in the Bay Area often, and the “new norm” is astounding, but, since they’ve all been there for years, they don’t find it a problem.
Some have retired near us in RSF, Del Mar or LJ, because they prefer our weather, beaches and lifestyle, and found our prices to be a bargain by comparison.
the more astounding thing about this is Milpitas is not the most desirable part of the Bay Area. The same house in Palo Alto and the asking price will double that with multiple offers.
[quote=bobby]the more astounding thing about this is Milpitas is not the most desirable part of the Bay Area. The same house in Palo Alto and the asking price will double that with multiple offers.[/quote]
Yeah, having been to Milpitas all the time and eaten at a lot of the asian restaurants there, it definitely used to be the lower end place in the past. Everything has gone up 100% from say 10 years ago.
I grew up in Milpitas and just moved back to the Bay Area. It’s pretty suburby, schools are OK but not great, and actually has a reputation for having a bed small due to being upwind of a water treatment plant and a landfill. Not the worst place to live (I grew up there and ended up ok 🙂 ) but probably on the lower half of Bay Area communities in terms of overall desirability.
Got a nice pay bump moving out here, but after I started looking seriously at housing costs, I realized SD cost of living far outweighs any increase in income. I’ve got way more career opportunities in Silicon Valley, plus my family is here, but I’m already missing how much richer I felt in SD. Plus better weather, easier beach access, less traffic…
I looked at smaller condos and houses in Mountain View, and nearly all were going for about $1000/sq.ft. Rent is also pretty ridiculous so those prices don’t actually seem that crazy. Waiting for what I call “the stupid app bubble” to crash, though I’ve been saying that since Instagram got bought for $1billion three years ago–that seems almost quaint now.
[quote=joec][quote=bobby]the more astounding thing about this is Milpitas is not the most desirable part of the Bay Area. The same house in Palo Alto and the asking price will double that with multiple offers.[/quote]
Yeah, having been to Milpitas all the time and eaten at a lot of the asian restaurants there, it definitely used to be the lower end place in the past. Everything has gone up 100% from say 10 years ago.
It does seem close to the new Levi’s stadium.[/quote]
I go there for some good Asian food and car meet. One drive two purposes.
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