OT: Piggington equivalent for the Bay Area?

[Shadowfax]

We are thinking of moving to the bay area–possibly east bay, walnut creek, Lomorinda area. We will probably rent initially with the hopes of being in a position to buy eventually. 1) any one have any advice re neighborhoods (two location-flexible professionals with young school age children). 2) is there a NorCal Piggingtons that anyone knows of? Will miss the wealth of knowledge (and even–sometimes–the idiocy).

[Enorah]

Here you go

http://patrick.net/housing/crash.html

[Enorah]

Here you go

http://patrick.net/housing/crash.html

[Enorah]

Here you go

http://patrick.net/housing/crash.html

[Enorah]

Here you go

http://patrick.net/housing/crash.html

[Enorah]

Here you go

http://patrick.net/housing/crash.html

[SmellsFeeshy]

Are there any other suggestions for bay area RE forums? I checked out patrick.net and the discussion seems to be a lot of BS and smack talking and low on quality content.

[bearishgurl]

[quote=SmellsFeeshy]Are there any other suggestions for bay area RE forums? I checked out patrick.net and the discussion seems to be a lot of BS and smack talking and low on quality content.[/quote]

SmellsFeeshy, I am a former Alameda County resident who left just as the tracks for the BART were being laid (eons ago). However, I drive there 4x per year to visit relatives and friends and have done so for the last 30+ years.

I was back perusing realtor.com last weekend to check out SFR’s in choice bay area zips in which I am interested in “retiring” myself – 3 in Contra Costa County (“Lamorinda,” as the OP stated here, as well as the Rheem Valley portion). These close-in areas are very, very desirable and stable (have very little “distress”). There is also VERY little current inventory available in them under $1M, ESP in one-story dwellings. The couple of short sales I DID find appeared to be <$70K short. I DID find one '50's and one '70's cosmetic-fixer (asking the low $600K range) which were situated on large (view) lots. As you may know, it is quite a bit warmer (and housing is generally less expensive) east of the Caldecott tunnel leading into Berkeley. Unlike SD County, I think you will find if you are able to obtain an older close-in east-bay property on a (low or high) view lot for a fair price that it will NOT lose value in the future as Walnut Creek and surrounds and Oakland and surrounds have huge local employment bases. In addition, there is a large contingent of very stable middle/higher income retirees who own there and are not going anywhere. SF, San Mateo and Santa Clara counties are becoming very expensive again. And houses and lots valued at under $1M in the peninsula are typically smaller, often MUCH smaller than what one can purchase in the east bay for the same (or less) price. Unless you are employed in SV need to avoid a bridge commute (or would prefer wind to sun), I no longer think it is worth it to retire on the peninsula at today's prices. However, SJ, Morgan Hill and even perhaps older stock out in Saratoga tend to be less expensive than properties located in the thick of SV. There is less wind in the eastern foothills of SJ. However semi-rural land overlooking SJ has the same inherent fire danger as the Oakland Hills (even less FF infrastructure). I think the "desirable" RE market in the bay area is more "locked-up" for moderate/middle/upper-middle income buyers than the "desirable" market in SD County. This is due to it encompassing six counties and a population of nearly 10M, causing massive commutes for those who choose to live in inferior locations (mostly 45 mi+ north, south or inland from SF) and the fact that there aren't anywhere near as many newer developments there near job centers as in SD County (where builders subsidized initial financing). My opinion is that if you are searching for a (under $700K) well-located property in the bay area that you be prepared to do some work on it and hopefully, you are handy so the work won’t cost as much. Keep and open mind and look for location and lot.

I haven’t tried to look for a forum but have you tried the City-Data forum? Just as in SD County, different parts of the bay area are night and day from one another.

[SmellsFeeshy]

Thanks BG. I am a software engineer so most likely would like to purchase somewhere on the Peninsula or near SV to the close to the tech centers. Just looking casually at Redfin it seems that the inventory for houses/condos in that area is much lower than down here in SD. I guess there is probably just more demand and people with money to buy up in the bay.

Most likely if I did buy I would be looking for a 2/2 condo on the Peninsula or maybe north SJ (near Milpitas). Preferably something built in the 80’s or newer with a 2 car garage and definitely washer/dryer in unit.

Based on my casual research I’m estimating something like that would probably run in the $550-700k range in those areas? Are there any specific areas that might have properties that meet those criteria that I could focus on? Seems that the majority of properties on the Peninsula are old and really expensive.

[bearishgurl]

[quote=SmellsFeeshy]Thanks BG. I am a software engineer so most likely would like to purchase somewhere on the Peninsula or near SV to the close to the tech centers. Just looking casually at Redfin it seems that the inventory for houses/condos in that area is much lower than down here in SD. I guess there is probably just more demand and people with money to buy up in the bay.

Most likely if I did buy I would be looking for a 2/2 condo on the Peninsula or maybe north SJ (near Milpitas). Preferably something built in the 80’s or newer with a 2 car garage and definitely washer/dryer in unit.

Based on my casual research I’m estimating something like that would probably run in the $550-700k range in those areas? Are there any specific areas that might have properties that meet those criteria that I could focus on? Seems that the majority of properties on the Peninsula are old and really expensive.[/quote]

smellsfeeshy, I found a really well laid-out RE blog over the weekend that may be of interest to you. You can sign up with an e-mail address and password to use all the (helpful) tools in it with no obligation.

According to this blog, the SFR market in Santa Clara County is currently “white hot” and there is very, very little inventory on the market.

You are correct in that very little (if any) *newer* construction exists in this area.

If you simply MUST have an SFR newer than 30 years old, I would suggest looking across the Dumbarton bridge in the eastern edge of Fremont or beyond, or below SJ. However, you will commute to work from these areas, whereas if you live in the general vicinity of your job, you will have a short commute or no commute.

I would choose the latter if I were you.

see: http://sanjoserealestatelosgatoshomes.com/

http://sanjoserealestatelosgatoshomes.com/category/market-reports/

Here’s a good condo report for Santa Clara County:

http://popehandy.rereport.com/market_reports?formSubmit=1&searchtype=search&emailtype=search&period=1&report_description=Santa+Clara+County%2C+All+Cities%2C+All+Neighborhoods&area=15&proptype=2&cities=&yearmonth=&locations=&get_report.x=46&get_report.y=13

Hopefully, you have already rented a place and can shop for listed property during your off hours once you get settled in.

[bearishgurl]

A cursory check on townhomes in Milpitas shows 35 listings with at least 2/2. There seem to be quite a few listings that are *newer* construction.

http://www.realtor.com/realestateandhomes-search/Milpitas_CA/beds-2/baths-2/type-mfd-mobile-home%2ccondo-townhome-row-home-co-op

[SmellsFeeshy]

Thanks for the links BG. That blog does seem to have a lot of good info. However, being that she is a realtor herself I am a little skeptical that she isn’t trying to make it sound like the market is hotter than it really is. It does appear though based on the inventory and number of properties pending that it is a sellers market at least on the peninsula and that properties are selling rather quickly.

I’m not looking to purchase anything right away, probably would be at least a year before I figure out which areas I like/don’t like and also would need to see if I want to actually settle down in the Bay Area for the long term.

Milpitas does look good in terms of pricing and SFRs that fit my criteria but I’m really not familiar with the city at all so I’d have to actually go and hang out there for a while to see how I like it. Also since prices are cheaper than the Peninsula I’m guessing traffic is probably pretty bad, sort of like living in North County SD and commuting to San Diego proper.

[bearishgurl]

[quote=SmellsFeeshy]Thanks for the links BG. That blog does seem to have a lot of good info. However, being that she is a realtor herself I am a little skeptical that she isn’t trying to make it sound like the market is hotter than it really is. It does appear though based on the inventory and number of properties pending that it is a sellers market at least on the peninsula and that properties are selling rather quickly.

I’m not looking to purchase anything right away, probably would be at least a year before I figure out which areas I like/don’t like and also would need to see if I want to actually settle down in the Bay Area for the long term.

Milpitas does look good in terms of pricing and SFRs that fit my criteria but I’m really not familiar with the city at all so I’d have to actually go and hang out there for a while to see how I like it. Also since prices are cheaper than the Peninsula I’m guessing traffic is probably pretty bad, sort of like living in North County SD and commuting to San Diego proper.[/quote]

smellsfeeshy, I think that is a great blog and breaks down the recent sales in groups, etc. I wouldn’t worry that it is a “realtor’s” blog. There is no obligation to sign up to use the tools there and if you sign up, she won’t even know your name.

Look at how long SFR’s stay on the market in your area of choice and that will tell the tale whether they are actually “selling like hotcakes” … or not.

The “commute” from the vicinity of the Capitol Expwy and US-101 in SJ to SF (SOMA) is approx 52-54 miles and takes about one hour when the traffic is constantly moving. I-280 and US-101 are very busy in both directions during rush hour with the a.m. southbound and p.m. northbound slightly heavier.

SFR tracts in what is now the Silicon Valley (mostly in SC Co) were developed in the ’50’s thru the ’70’s (mostly ’50’s and ’60’s). As you know, parts of it are zoned comm’l, industrial and a LARGE part is protected open space, which will never change. Unless for comm’l development or an “infill” (teardown) project, it is doubtful any of these jurisdictions would issue permits for new construction today as there isn’t any land to build on and hasn’t been any for many years.

The good planning and forethought of SM and SC counties’ forefathers as well as VERY close proximity to GREAT jobs is what drives up the price of SFR’s in SV. The quality of life is very high there for those that don’t commute long distances to work.

If you are seeking a suburban (or exurban) “SD North County lifestyle,” San Mateo (SM) and Santa Clara (SC) counties are probably not the places for you to purchase in, given the price range you stated here.

Based on your last post, I feel it is probably better for you to rent and get to know the area in your off hours.

[bearishgurl]

SM and SC counties (north of SJ) are a shining example of good planning, IMO. Being surrounded on two lengthy sides by water no doubt helped, lol. There was no way for its local politicians to become “greedy” over bond money and developer fees when the vast bulk of it was developed and its open space set aside PRIOR to the passing of the Mello-Roos Community Facilities District Act, that is, except for “Foster City,” which was dredged out of the bay (similar to SD’s Harbor and Shelter Islands) and later massively developed.

http://en.wikipedia.org/wiki/Mello-Roos

This short-sighted greed by CA local politicians over bond $$ for infrastructure, developer fees and additional property tax money over the last three decades (but mostly in the last decade) has wrought untold financial havoc on cities and counties throughout the state. The public officials voting for all this new development could only think at the time of having the money for “growing” their respective governments. They obviously didn’t realize at the time that if they grew their governments (to take care of a bigger population) that if the time came where they had to do layoffs, there would be a HUGE impact on services to the “entire” population (both newcomers AND the longtime residents) :=[

Obviously, all these local “politicos” could think of when they were voting was $$$ to increase their “power” and standing on the map.

This unchecked greed is the sole cause of the formation of CA ghost towns, now and into the future, IMHO.

[SmellsFeeshy]

Thought I would revisit this thread and find out if anyone has heard of new Piggington equivalents for the Bay Area since 2012?

So far the best I’ve found is the Redfin Bay Area forums.

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