Mixed signals for buyers

[jabrwoki]

Allan : Dont sweat it too much. More people have been wrong than right on the timing their purchase (At least that is how I console myself after missing much of the RE boom and see my savings deflate :-)). Good luck on your land hunt in Napa !

[Allan from Fallbrook]

jabrwoki: I definitely get the sense that there are some developers that got overextended in the wine country. I am starting to see fairly decent size acreages (5, 10, 20+) opening up, and at affordable prices (around $20k per acre). All of them have been zoned and perc’d for multiple residences, and are now coming back onto the market as “developable land”.

These are right alongside the WTF asking prices of some of the larger, and newer, properties there. I saw a nice 3,000sf property on 5.5ac for the low, low price of $1.7MM. Nice area, but not that nice.

[Allan from Fallbrook]

jabrwoki: I definitely get the sense that there are some developers that got overextended in the wine country. I am starting to see fairly decent size acreages (5, 10, 20+) opening up, and at affordable prices (around $20k per acre). All of them have been zoned and perc’d for multiple residences, and are now coming back onto the market as “developable land”.

These are right alongside the WTF asking prices of some of the larger, and newer, properties there. I saw a nice 3,000sf property on 5.5ac for the low, low price of $1.7MM. Nice area, but not that nice.

[Allan from Fallbrook]

jabrwoki: I definitely get the sense that there are some developers that got overextended in the wine country. I am starting to see fairly decent size acreages (5, 10, 20+) opening up, and at affordable prices (around $20k per acre). All of them have been zoned and perc’d for multiple residences, and are now coming back onto the market as “developable land”.

These are right alongside the WTF asking prices of some of the larger, and newer, properties there. I saw a nice 3,000sf property on 5.5ac for the low, low price of $1.7MM. Nice area, but not that nice.

[Allan from Fallbrook]

jabrwoki: I definitely get the sense that there are some developers that got overextended in the wine country. I am starting to see fairly decent size acreages (5, 10, 20+) opening up, and at affordable prices (around $20k per acre). All of them have been zoned and perc’d for multiple residences, and are now coming back onto the market as “developable land”.

These are right alongside the WTF asking prices of some of the larger, and newer, properties there. I saw a nice 3,000sf property on 5.5ac for the low, low price of $1.7MM. Nice area, but not that nice.

[Allan from Fallbrook]

jabrwoki: I definitely get the sense that there are some developers that got overextended in the wine country. I am starting to see fairly decent size acreages (5, 10, 20+) opening up, and at affordable prices (around $20k per acre). All of them have been zoned and perc’d for multiple residences, and are now coming back onto the market as “developable land”.

These are right alongside the WTF asking prices of some of the larger, and newer, properties there. I saw a nice 3,000sf property on 5.5ac for the low, low price of $1.7MM. Nice area, but not that nice.

[raptorduck]

Looking to buy in both markets has certainly helped me appreciate the differences. Night and day really. Very little inventory of any kind, let alone nice houses, in LA/LAH/PA and lots of high quality inventory in RSF. I know people here make more income and have Google/Apple $$ etc and there are gobs and gobs of 7 figure income folks in Silicon Valley, but SD is so much nicer to live in, that I feel like I am living in a dream with the prices down there, and they are still dropping!

This is just a different world up here. I used to have a Ferrari and and Aston Martin and I had them serviced at what used to be called Ferrari of Los Gatos (now SV Auto Group) and they once told me that there were 6,000 registered Ferrari’s in Silicon Valley. Lots of money up here indeed. But in most cases, you can’t tell by looking at the person’s house. It is probably a 1,300 sf shack in MV with a Ferrari in it.

People want MV, LA, PA for the schools and commute, but an entry level home is over $1 million in MV and over $2 million in LA/PA and as mentioned, lots of buyers for those.

[raptorduck]

Looking to buy in both markets has certainly helped me appreciate the differences. Night and day really. Very little inventory of any kind, let alone nice houses, in LA/LAH/PA and lots of high quality inventory in RSF. I know people here make more income and have Google/Apple $$ etc and there are gobs and gobs of 7 figure income folks in Silicon Valley, but SD is so much nicer to live in, that I feel like I am living in a dream with the prices down there, and they are still dropping!

This is just a different world up here. I used to have a Ferrari and and Aston Martin and I had them serviced at what used to be called Ferrari of Los Gatos (now SV Auto Group) and they once told me that there were 6,000 registered Ferrari’s in Silicon Valley. Lots of money up here indeed. But in most cases, you can’t tell by looking at the person’s house. It is probably a 1,300 sf shack in MV with a Ferrari in it.

People want MV, LA, PA for the schools and commute, but an entry level home is over $1 million in MV and over $2 million in LA/PA and as mentioned, lots of buyers for those.

[raptorduck]

Looking to buy in both markets has certainly helped me appreciate the differences. Night and day really. Very little inventory of any kind, let alone nice houses, in LA/LAH/PA and lots of high quality inventory in RSF. I know people here make more income and have Google/Apple $$ etc and there are gobs and gobs of 7 figure income folks in Silicon Valley, but SD is so much nicer to live in, that I feel like I am living in a dream with the prices down there, and they are still dropping!

This is just a different world up here. I used to have a Ferrari and and Aston Martin and I had them serviced at what used to be called Ferrari of Los Gatos (now SV Auto Group) and they once told me that there were 6,000 registered Ferrari’s in Silicon Valley. Lots of money up here indeed. But in most cases, you can’t tell by looking at the person’s house. It is probably a 1,300 sf shack in MV with a Ferrari in it.

People want MV, LA, PA for the schools and commute, but an entry level home is over $1 million in MV and over $2 million in LA/PA and as mentioned, lots of buyers for those.

[raptorduck]

Looking to buy in both markets has certainly helped me appreciate the differences. Night and day really. Very little inventory of any kind, let alone nice houses, in LA/LAH/PA and lots of high quality inventory in RSF. I know people here make more income and have Google/Apple $$ etc and there are gobs and gobs of 7 figure income folks in Silicon Valley, but SD is so much nicer to live in, that I feel like I am living in a dream with the prices down there, and they are still dropping!

This is just a different world up here. I used to have a Ferrari and and Aston Martin and I had them serviced at what used to be called Ferrari of Los Gatos (now SV Auto Group) and they once told me that there were 6,000 registered Ferrari’s in Silicon Valley. Lots of money up here indeed. But in most cases, you can’t tell by looking at the person’s house. It is probably a 1,300 sf shack in MV with a Ferrari in it.

People want MV, LA, PA for the schools and commute, but an entry level home is over $1 million in MV and over $2 million in LA/PA and as mentioned, lots of buyers for those.

[raptorduck]

Looking to buy in both markets has certainly helped me appreciate the differences. Night and day really. Very little inventory of any kind, let alone nice houses, in LA/LAH/PA and lots of high quality inventory in RSF. I know people here make more income and have Google/Apple $$ etc and there are gobs and gobs of 7 figure income folks in Silicon Valley, but SD is so much nicer to live in, that I feel like I am living in a dream with the prices down there, and they are still dropping!

This is just a different world up here. I used to have a Ferrari and and Aston Martin and I had them serviced at what used to be called Ferrari of Los Gatos (now SV Auto Group) and they once told me that there were 6,000 registered Ferrari’s in Silicon Valley. Lots of money up here indeed. But in most cases, you can’t tell by looking at the person’s house. It is probably a 1,300 sf shack in MV with a Ferrari in it.

People want MV, LA, PA for the schools and commute, but an entry level home is over $1 million in MV and over $2 million in LA/PA and as mentioned, lots of buyers for those.

[Allan from Fallbrook]

raptor: You want a scream? My folks bought their house in Los Altos Hills (before it was Los Altos Hills, it was just Los Altos back then) in 1966 for $22,000. My dad moaned for years about how expensive that house was, but my mom had to have it, so he bought it for her. Comparable homes in Mountain View at the time were going for about half that. It was in the hills above Foothill Expressway, and sold for over $800k when my dad retired in ’89. Same house went for over $1.8MM three years ago. Gotta love Silicon Valley.

Speaking of Ferraris: A girl I went to high school with got one for her 18th birthday. Her dad, a former HP’er, had sold his company and made some twenty odd million. This was ’82 and, following the Apple IPO of a year or so earlier, really ushered in the Silicon Valley prosperity you see today. Interesting times, to say the least.

[Allan from Fallbrook]

raptor: You want a scream? My folks bought their house in Los Altos Hills (before it was Los Altos Hills, it was just Los Altos back then) in 1966 for $22,000. My dad moaned for years about how expensive that house was, but my mom had to have it, so he bought it for her. Comparable homes in Mountain View at the time were going for about half that. It was in the hills above Foothill Expressway, and sold for over $800k when my dad retired in ’89. Same house went for over $1.8MM three years ago. Gotta love Silicon Valley.

Speaking of Ferraris: A girl I went to high school with got one for her 18th birthday. Her dad, a former HP’er, had sold his company and made some twenty odd million. This was ’82 and, following the Apple IPO of a year or so earlier, really ushered in the Silicon Valley prosperity you see today. Interesting times, to say the least.

[Allan from Fallbrook]

raptor: You want a scream? My folks bought their house in Los Altos Hills (before it was Los Altos Hills, it was just Los Altos back then) in 1966 for $22,000. My dad moaned for years about how expensive that house was, but my mom had to have it, so he bought it for her. Comparable homes in Mountain View at the time were going for about half that. It was in the hills above Foothill Expressway, and sold for over $800k when my dad retired in ’89. Same house went for over $1.8MM three years ago. Gotta love Silicon Valley.

Speaking of Ferraris: A girl I went to high school with got one for her 18th birthday. Her dad, a former HP’er, had sold his company and made some twenty odd million. This was ’82 and, following the Apple IPO of a year or so earlier, really ushered in the Silicon Valley prosperity you see today. Interesting times, to say the least.

[Allan from Fallbrook]

raptor: You want a scream? My folks bought their house in Los Altos Hills (before it was Los Altos Hills, it was just Los Altos back then) in 1966 for $22,000. My dad moaned for years about how expensive that house was, but my mom had to have it, so he bought it for her. Comparable homes in Mountain View at the time were going for about half that. It was in the hills above Foothill Expressway, and sold for over $800k when my dad retired in ’89. Same house went for over $1.8MM three years ago. Gotta love Silicon Valley.

Speaking of Ferraris: A girl I went to high school with got one for her 18th birthday. Her dad, a former HP’er, had sold his company and made some twenty odd million. This was ’82 and, following the Apple IPO of a year or so earlier, really ushered in the Silicon Valley prosperity you see today. Interesting times, to say the least.

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