CarmelV housing stats?

[spdrun]

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.

Why workaholic? Any sane person shouldn’t want to live more than 15-20 min from work, since time is a limited resource, and “I wish I had spent more time commuting” is said by exactly nobody as their last words.

[The-Shoveler]

For CV I think it is a lot more about schools than commuting.

I seriously doubt there are very many living there without school age kids.

[UCGal]

Friends just moved from CV to Palo Alto. Price per SF up is close to $1000/sf. They are totally in sticker shock… they knew it would be expensive… but to get a fixer sub 2000sf for over $2M hurts. They’re renting a small house in the meantime… and the rent is way more than a mortgage on a CV McMansion.

[spdrun]

Tech Bubble 2.0. Maybe they should wait for social media to pop (and it will), then break out the champagne and celebrate wildly after picking up a house on the courthouse steps. The situation in SF is unsustainable at the moment.

Read this article and fear (“Social Media Drove Just 1% of Black Friday Sales”)…
http://mashable.com/2013/11/30/black-friday-statistics/

PS – why did they sell in CV instead of renting out their place and using it to pay expenses in the Bay Area?

[flyer]

Family members who have lived all around the Bay Area for years have mentioned this situation, and are wondering if/when/how it all will end.

None of them are planning to sell their homes, so they don’t really care, but it is interesting to watch.

[spdrun]

^^^

Not well. SFBA is very prone to bubbles and busts, and they seldom end sell, till the next bubble comes along.

[Coronita]

[quote=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.[/quote]

If you plan on relocating, I might know of a house for you to rent there in about 3 months…. $3000/month for about 1700 sqft 🙂 Just kidding…sort of.. (Not kidding about the rent price)…

[Coronita]

[quote=flyer]Family members who have lived all around the Bay Area for years have mentioned this situation, and are wondering if/when/how it all will end.

None of them are planning to sell their homes, so they don’t really care, but it is interesting to watch.[/quote]

Housing in tech valley is ALWAYS in demand….Has been, always will be. Parents were there in the 80ies. I was there in 90ies-early 2000, and frankly there might be downturns when tech explodes, but something always starts up again.

I would never sell a home in the tech valley simply because of serious housing shortage.. Folks that’s never been, never will understand how crazy things work there…

Carmel Valley is not nearly as big a regret for me as Silicon Valley. When I first got there housing was ridiculous. BUT, I should have float more of my stock options into more houses… Back then you could find something 3/3 in Foster City for $300k and on the lagoon. It was new construction and open for investors… Try double the price now.

Occasionally, I entertain the thought of going back there.. But a company like Google would have to double my salary here to even be close to my cost of living here… (In other words, ain’t gonna happen)…

[joec]

Yeah, I think unless you work in tech with a chance to go IPO and make millions, you really can’t afford to live/work there. ANY professional compared to IPO tech millions including high income doctors/lawyers/you name it simply doesn’t compare. For people who have had it, you know it doesn’t even take many shares to make insane amounts…especially now with stocks at all time highs.

I looked up the “room” in a house I used to rent in the 90s in Mountain View and it recently sold for 1 mil+ for slightly less than 2k total sqft. 3 bedrooms

One reason we left I guess. A bit sad I didn’t hit it even though I had the chance (stupid founder didn’t want to sell)…but such is life.

This is also why Facebook is building dorms for workers since housing is so insane.

[spdrun]

Housing in tech valley is ALWAYS in demand….Has been, always will be. Parents were there in the 80ies. I was there in 90ies-early 2000, and frankly there might be downturns when tech explodes, but something always starts up again.

“Always” is a hell of a strong word to use — remember that “Silicon Valley” has only been a thing for the past 40 years or so. Tech centers can just as easily end up growing in other cities, especially with improved communications and technology (i.e. Silicon Valley will be its own demise).

[njtosd]

[quote=flu]

Housing in tech valley is ALWAYS in demand….Has been, always will be. Parents were there in the 80ies. I was there in 90ies-early 2000, and frankly there might be downturns when tech explodes, but something always starts up again.

[/quote]

Detroit used to be the equivalent of “high tech” before there was such a thing. It relied on heavy industry, which is different than Silicon Valley, but no one ever believed that it could fail. Adjusted for inflation, my parents house (in what was once a nice suburb) is now worth 70% of what it was in 1987.

[Coronita]

[quote=spdrun]

Housing in tech valley is ALWAYS in demand….Has been, always will be. Parents were there in the 80ies. I was there in 90ies-early 2000, and frankly there might be downturns when tech explodes, but something always starts up again.

“Always” is a hell of a strong word to use — remember that “Silicon Valley” has only been a thing for the past 40 years or so. Tech centers can just as easily end up growing in other cities, especially with improved communications and technology (i.e. Silicon Valley will be its own demise).[/quote]

Sure whatever you say.

[Coronita]

[quote=njtosd][quote=flu]

Housing in tech valley is ALWAYS in demand….Has been, always will be. Parents were there in the 80ies. I was there in 90ies-early 2000, and frankly there might be downturns when tech explodes, but something always starts up again.

[/quote]

Detroit used to be the equivalent of “high tech” before there was such a thing. It relied on heavy industry, which is different than Silicon Valley, but no one ever believed that it could fail. Adjusted for inflation, my parents house (in what was once a nice suburb) is now worth 70% of what it was in 1987.[/quote]

Well, I guess for practical purposes, I don’t expect it to fail in my lifetime, short of CA falling into the ocean.

Silicon Valley isn’t really silicon anymore. And yet it continues to thrive beyond what started it…No comment on Detroit, though I have my hunches….

[spdrun]

Think what a strong earthquake in the wrong place would do – make Sandy look like a summer rain shower.

[The-Shoveler]

Having been to San Jose many times, I don’t see it fading away anytime soon.
But at the same time I would rather live in SD area than the SV/SF area.

[Author]

Posts