North Park

[urbanrealtor]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.
If you do the math, and apply a GRM of 10 then the place would value about $180k.
During the recent bubble the GRM’s went nuts to over 20 and sales price became completely disconnected from the fundamentals.
I think prices in this area will come down to 10xGRM eventually, perhaps by late 2010 or 2011.
I’d wait a while to buy and watch the prices and GRM’s come back down to reality.[/quote]

That is not realistic.
At 15 GRM, people still go bananas even in crappier pockets. It is possible that this will change but it seems unlikely. If I could buy a place and the revenue could equal the full purchase price in 10 years (where I, the borrower, still get 30 to pay the bank), then everybody would jump in and the effective demand would drive the grm right back up.

The only places you see a grm that low is where rents are really high and interest rates are too.

Again, if rates spike (like to 15%) then that may happen.

But that seems an unrealistic projection as of today.

[zzz]

urban, you’re right, I didn’t include Burlingame, sorry it was late last night, but I have viewed some open houses in that area and there are some beautiful homes, albeit very overpriced.

[zzz]

urban, you’re right, I didn’t include Burlingame, sorry it was late last night, but I have viewed some open houses in that area and there are some beautiful homes, albeit very overpriced.

[zzz]

urban, you’re right, I didn’t include Burlingame, sorry it was late last night, but I have viewed some open houses in that area and there are some beautiful homes, albeit very overpriced.

[zzz]

urban, you’re right, I didn’t include Burlingame, sorry it was late last night, but I have viewed some open houses in that area and there are some beautiful homes, albeit very overpriced.

[zzz]

urban, you’re right, I didn’t include Burlingame, sorry it was late last night, but I have viewed some open houses in that area and there are some beautiful homes, albeit very overpriced.

[sdcellar]

wow.

as long as this kind of property continues to fetch this kind of price, I’m even more resolute in my stubborness to stay out of this insanity.

I will agree that this place does need that second bathroom though, given there isn’t enough room to pee in your own backyard.

[sdcellar]

wow.

as long as this kind of property continues to fetch this kind of price, I’m even more resolute in my stubborness to stay out of this insanity.

I will agree that this place does need that second bathroom though, given there isn’t enough room to pee in your own backyard.

[sdcellar]

wow.

as long as this kind of property continues to fetch this kind of price, I’m even more resolute in my stubborness to stay out of this insanity.

I will agree that this place does need that second bathroom though, given there isn’t enough room to pee in your own backyard.

[sdcellar]

wow.

as long as this kind of property continues to fetch this kind of price, I’m even more resolute in my stubborness to stay out of this insanity.

I will agree that this place does need that second bathroom though, given there isn’t enough room to pee in your own backyard.

[sdcellar]

wow.

as long as this kind of property continues to fetch this kind of price, I’m even more resolute in my stubborness to stay out of this insanity.

I will agree that this place does need that second bathroom though, given there isn’t enough room to pee in your own backyard.

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

Irish, if I remember correctly, the couple wanted $2100 for rent on this house.

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

Irish, if I remember correctly, the couple wanted $2100 for rent on this house.

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

Irish, if I remember correctly, the couple wanted $2100 for rent on this house.

[zzz]

[quote=Irish]This little “updated” Craftsman is in a decent area of Northpark and should rent for $1500 or so per month.[/quote]

Irish, if I remember correctly, the couple wanted $2100 for rent on this house.

[Author]

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