CarmelV housing stats?

[Coronita]

Well, I guess it’s getting better. Sort of… Not really…

Got this ad in the weekly papers… I didn’t verify it, so take it with a grain of salt for accuracy (not saying it isn’t accurate. Again didn’t verify it)..

$374/sqft is still kinda disturbing….

Anyone got better stats?

[spdrun]

All I’m asking is … Does the broker in the ad have a 1970s pornstache? And how much hair gel was required to look like that?

[njtosd]

Yes – hairline is almost perfectly horizontal. Can’t be real. Maybe mustache is attempt to prove ability to grow hair.

[an]

Might not be from San Diego, but Cupertino is currently at $704/sq-ft. Makes SD look dirt cheap. Even San Jose is at $404/sq-ft. The “ghetto” part of San Jose that have bad schools are going for ~370/sq-ft.

[spdrun]

What the FUCK? $704/sf is practically NYC/Brooklyn pricing, not “suburb” pricing. Insane.

[Coronita]

[quote=spdrun]What the FUCK? $704/sf is practically NYC/Brooklyn pricing, not “suburb” pricing. Insane.[/quote]

That’s just cupertino. We aren’t talking about other nicer arenas… Atherton, Los Altos Hills,etc…

A comparable place in Santa Clara County to Mira Mesa is currently around $500/sqft….Never thought I’d see the day when a hole-in-the-wall home in SantaClara would be worth more than a place in CarmelV.

[Coronita]

QCOM being at a 52 week high surely doesn’t help low prices here….

[SK in CV]

[quote=flu]QCOM being at a 52 week high surely doesn’t help low prices here….[/quote]

Eh. Certainly hasn’t had any effect yet. It was in the same range for 18 months. Just broke out a couple days ago. Hasn’t quite been a stellar perfomer the last couple years in comparison to everything else. When they hire 3,000 people it might have some effect. A $5 stock move, not so much.

[Coronita]

[quote=SK in CV][quote=flu]QCOM being at a 52 week high surely doesn’t help low prices here….[/quote]

Eh. Certainly hasn’t had any effect yet. It was in the same range for 18 months. Just broke out a couple days ago. Hasn’t quite been a stellar perfomer the last couple years in comparison to everything else. When they hire 3,000 people it might have some effect. A $5 stock move, not so much.[/quote]

It does if you have stock/stock option grants and you aren’t just buying them on the retail market. And closer to $5-10, depending on when those grants were made, usually every 6 months during review processes.

[The-Shoveler]

Maybe its just a coincidence but I noticed the SD home price and qcom stock chart look similar LOL.

[Coronita]

[quote=The-Shoveler]Maybe its just a coincidence but I noticed the SD home price and qcom stock chart look similar LOL.[/quote]

I think Marvel (MRVL) is a better buy frankly at these prices. Well it was, at least right after those patent lawsuits from CMU when it was around $11/share…

Looks like KKR looking to take a 5% stake in the company recently.

They also crushed Q4 earnings estimates yesterday..

But what do I know…

[an]

[quote=flu]That’s just cupertino. We aren’t talking about other nicer arenas… Atherton, Los Altos Hills,etc…

A comparable place in Santa Clara County to Mira Mesa is currently around $500/sqft….Never thought I’d see the day when a hole-in-the-wall home in SantaClara would be worth more than a place in CarmelV.[/quote]
Exactly, when you start talking about nicer areas, it really shows how out outrageous the prices are up there. It also show how cheap houses are down here, relative to up there.

I would say $560/sq-ft, not just $500/sq-ft. An area that I would consider similar to Mira Mesa would be the western side of Sunnyvale. That’s almost twice Mira Mesa’s $290/sq-ft. 3-5 miles from major work center, good schools, tract homes on 5-6k sq-ft lots. Most are smaller SFR.

[SK in CV]

[quote=flu][quote=The-Shoveler]Maybe its just a coincidence but I noticed the SD home price and qcom stock chart look similar LOL.[/quote]

I think Marvel (MRVL) is a better buy frankly at these prices. Well it was, at least right after those patent lawsuits from CMU when it was around $11/share…

Looks like KKR looking to take a 5% stake in the company recently.

They also crushed Q4 earnings estimates yesterday..

But what do I know…[/quote]

Funny you mention that. I looked long and hard at earnings play on MRVL. Just couldn’t find any juice in it, to either side. Surprisingly low vol. Even with the big beat, didn’t crash through a single standard deviation.

[livinincali]

[quote=flu]QCOM being at a 52 week high surely doesn’t help low prices here….[/quote]

I think CV is driven by the massive medical complex surrounding UCSD. QCOM engineers and even the mid level managers aren’t making the $200-250K it takes to buy in CV. MM is probably more reliant on QCOM health than CV.

The reality is that homes around a high paying job center are always going to be more expensive no matter what kind of shape they are in because there’s always going to be some workaholic that’s willing to pay 50% of his/her gross to be close to work. They don’t do anything other than work so they can afford to budget 50% of gross to housing. Of course highly paid job centers can change.

Who knows what happens with a place like MM. Will QCOM keep hiring $100K a year engineers to buy homes from retired military personal that bought in the 1970’s. Mobile growth appears to be slowing down. QCOM has had lower QoQ earnings every quarter this year.

[The-Shoveler]

I know a lot of 2 income engineer families.

I don’t know about qcom especially but if it is anything like L.A. the more senior engineers make closer to 200K than 100K

[Author]

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