Price movement over 3 years in certain RSF and Bay Area homes

[Coronita]

I've noticed in the past, the economies of norcal and socal often move tangential. When commercial tech is hot, non-tech isn't and vice versus. In the last major recession here in socal, mainly due to defense spending cutbacks, then spilling over int services such as RE, that same period, bay area was just fine.

During the dotcom bust, socal economy was doing fine (hence the migration from nor cal to so cal). I have a feeling tha we'll start to se a migration back from so cal to nor cal.

Honestly, I contemplated this myself. There aren't that many great opportunities natively in SoCal for what I do. And while I'm really well compensated at my current position and responsibilities, all good things must end at some point- one bad quarter, one bad relationship, anything random..poof. it's over.

So anticipating plan B is necessary, my options are really to start a company, work remotely for NorCal company, or move back to norCal in case something should happen to my current employment.

What I don't get is why people/companies here in SD have such a hard time understanding that there is nothing wrong with switching positions every 2-3 years. You sort of have to in order to stay current if your employer pigeon hole's you into a menial task. Employers want what is current. At the same time, i see it ironic that several down here frown on folks that move around or don't let people grow into that new role. In the bay area, you had no choice, because companies/positions come and go, the only thing constant was your skills, knowledge, and your relationships you build with people. So part of working in the bay area for me was just being use to moving around. Down here, layoffs are a big deal, because the markets not as fluid.

Oh well. Fortunately, having a place in both areas will make realization of plan B (if needed) more possible..which is why I tell people never to sell a primary home in the bay area. It was and always will be tech capital, irrespective of what happens in the rest of the world. If some ideas move overseas, some new idea will start up in the bay area. Has been that way, always will be.

The only real reason why i even moved back here was I lost a coin toss with the significant other. But the significant other is thinking about plan B these days too, as it seems like one of the major employer's growth is starting to stagnant.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 For you folks in SD, homes up here tend to be old and not updated so when you find one that is newer or updated, people act like they just saw a shooting star and quickly wish upon it with their checkbooks before it dissapears.

 

Don't even get me started on this, especially homes in Cupertino and Palo Alto.

Seriously, the difference between price insanity here in SD and price insanity in the bay area is the former $1million buys you a nice stucco box about 10 years old around 2600sqft with a small backyard that will probably fall apart 10 years from the day you buy it. The latter will buy you a 2-3 bedroom 20 to 30+year hole in the wall, that has fallen apart, but nevertheless slapped together again by the previous owners.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 For you folks in SD, homes up here tend to be old and not updated so when you find one that is newer or updated, people act like they just saw a shooting star and quickly wish upon it with their checkbooks before it dissapears.

 

Don't even get me started on this, especially homes in Cupertino and Palo Alto.

Seriously, the difference between price insanity here in SD and price insanity in the bay area is the former $1million buys you a nice stucco box about 10 years old around 2600sqft with a small backyard that will probably fall apart 10 years from the day you buy it. The latter will buy you a 2-3 bedroom 20 to 30+year hole in the wall, that has fallen apart, but nevertheless slapped together again by the previous owners.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 For you folks in SD, homes up here tend to be old and not updated so when you find one that is newer or updated, people act like they just saw a shooting star and quickly wish upon it with their checkbooks before it dissapears.

 

Don't even get me started on this, especially homes in Cupertino and Palo Alto.

Seriously, the difference between price insanity here in SD and price insanity in the bay area is the former $1million buys you a nice stucco box about 10 years old around 2600sqft with a small backyard that will probably fall apart 10 years from the day you buy it. The latter will buy you a 2-3 bedroom 20 to 30+year hole in the wall, that has fallen apart, but nevertheless slapped together again by the previous owners.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 For you folks in SD, homes up here tend to be old and not updated so when you find one that is newer or updated, people act like they just saw a shooting star and quickly wish upon it with their checkbooks before it dissapears.

 

Don't even get me started on this, especially homes in Cupertino and Palo Alto.

Seriously, the difference between price insanity here in SD and price insanity in the bay area is the former $1million buys you a nice stucco box about 10 years old around 2600sqft with a small backyard that will probably fall apart 10 years from the day you buy it. The latter will buy you a 2-3 bedroom 20 to 30+year hole in the wall, that has fallen apart, but nevertheless slapped together again by the previous owners.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

 For you folks in SD, homes up here tend to be old and not updated so when you find one that is newer or updated, people act like they just saw a shooting star and quickly wish upon it with their checkbooks before it dissapears.

 

Don't even get me started on this, especially homes in Cupertino and Palo Alto.

Seriously, the difference between price insanity here in SD and price insanity in the bay area is the former $1million buys you a nice stucco box about 10 years old around 2600sqft with a small backyard that will probably fall apart 10 years from the day you buy it. The latter will buy you a 2-3 bedroom 20 to 30+year hole in the wall, that has fallen apart, but nevertheless slapped together again by the previous owners.

 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[raptorduck]

As to the industry comments, I tend to agree with fat_lazy well placed comments.

While the Biotech industry in SD remains strong (it is the 3rd largest such market in the US behind the Bay Area and Boston area), telecom and a few other tech industries have suffered in recent years. Silicon Valley is just very different from any other market and generates more VC capital than the next 10 markets combined yada yada, so you can’t really compare it with other markets.

But I don’t know what that really predicts about housing prices, other than any drop here will be less severe. But any increase here is more severe. We are not immune. The outlying areas of the Bay Area (East Bay on the other side of the East Bay hills/680, far South Bay south of San Jose etc) are getting hit as hard as SD is. The Penninsula (where Los Altos/Los Altos Hills/Atherton/Hillsbouroug/Portola Valley/Woodsid are) stay strong because there is still enough $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.

I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.

In other words, . . . hell I dunno.

[raptorduck]

As to the industry comments, I tend to agree with fat_lazy well placed comments.

While the Biotech industry in SD remains strong (it is the 3rd largest such market in the US behind the Bay Area and Boston area), telecom and a few other tech industries have suffered in recent years. Silicon Valley is just very different from any other market and generates more VC capital than the next 10 markets combined yada yada, so you can’t really compare it with other markets.

But I don’t know what that really predicts about housing prices, other than any drop here will be less severe. But any increase here is more severe. We are not immune. The outlying areas of the Bay Area (East Bay on the other side of the East Bay hills/680, far South Bay south of San Jose etc) are getting hit as hard as SD is. The Penninsula (where Los Altos/Los Altos Hills/Atherton/Hillsbouroug/Portola Valley/Woodsid are) stay strong because there is still enough $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.

I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.

In other words, . . . hell I dunno.

[raptorduck]

As to the industry comments, I tend to agree with fat_lazy well placed comments.

While the Biotech industry in SD remains strong (it is the 3rd largest such market in the US behind the Bay Area and Boston area), telecom and a few other tech industries have suffered in recent years. Silicon Valley is just very different from any other market and generates more VC capital than the next 10 markets combined yada yada, so you can’t really compare it with other markets.

But I don’t know what that really predicts about housing prices, other than any drop here will be less severe. But any increase here is more severe. We are not immune. The outlying areas of the Bay Area (East Bay on the other side of the East Bay hills/680, far South Bay south of San Jose etc) are getting hit as hard as SD is. The Penninsula (where Los Altos/Los Altos Hills/Atherton/Hillsbouroug/Portola Valley/Woodsid are) stay strong because there is still enough $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.

I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.

In other words, . . . hell I dunno.

[raptorduck]

As to the industry comments, I tend to agree with fat_lazy well placed comments.

While the Biotech industry in SD remains strong (it is the 3rd largest such market in the US behind the Bay Area and Boston area), telecom and a few other tech industries have suffered in recent years. Silicon Valley is just very different from any other market and generates more VC capital than the next 10 markets combined yada yada, so you can’t really compare it with other markets.

But I don’t know what that really predicts about housing prices, other than any drop here will be less severe. But any increase here is more severe. We are not immune. The outlying areas of the Bay Area (East Bay on the other side of the East Bay hills/680, far South Bay south of San Jose etc) are getting hit as hard as SD is. The Penninsula (where Los Altos/Los Altos Hills/Atherton/Hillsbouroug/Portola Valley/Woodsid are) stay strong because there is still enough $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.

I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.

In other words, . . . hell I dunno.

[raptorduck]

As to the industry comments, I tend to agree with fat_lazy well placed comments.

While the Biotech industry in SD remains strong (it is the 3rd largest such market in the US behind the Bay Area and Boston area), telecom and a few other tech industries have suffered in recent years. Silicon Valley is just very different from any other market and generates more VC capital than the next 10 markets combined yada yada, so you can’t really compare it with other markets.

But I don’t know what that really predicts about housing prices, other than any drop here will be less severe. But any increase here is more severe. We are not immune. The outlying areas of the Bay Area (East Bay on the other side of the East Bay hills/680, far South Bay south of San Jose etc) are getting hit as hard as SD is. The Penninsula (where Los Altos/Los Altos Hills/Atherton/Hillsbouroug/Portola Valley/Woodsid are) stay strong because there is still enough $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.

I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.

In other words, . . . hell I dunno.

[raptorduck]

Right you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.

I have to beg my wife to not compare what you can buy for the $$ here vs. SD.

To say you can buy twice the home in SD is not to tell the whole story. You can buy twice the square footage, twice the lot size, twice the quality, 3 times the amenities, 1/10 the age, 10 times the weather, 1/3 the commute, the same quality of school, 5 times the beach, and 1/2 the stress for the same $$ in SD as you can in the Bay Area.

Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.

[raptorduck]

Right you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.

I have to beg my wife to not compare what you can buy for the $$ here vs. SD.

To say you can buy twice the home in SD is not to tell the whole story. You can buy twice the square footage, twice the lot size, twice the quality, 3 times the amenities, 1/10 the age, 10 times the weather, 1/3 the commute, the same quality of school, 5 times the beach, and 1/2 the stress for the same $$ in SD as you can in the Bay Area.

Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.

[raptorduck]

Right you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.

I have to beg my wife to not compare what you can buy for the $$ here vs. SD.

To say you can buy twice the home in SD is not to tell the whole story. You can buy twice the square footage, twice the lot size, twice the quality, 3 times the amenities, 1/10 the age, 10 times the weather, 1/3 the commute, the same quality of school, 5 times the beach, and 1/2 the stress for the same $$ in SD as you can in the Bay Area.

Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.

[raptorduck]

Right you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.

I have to beg my wife to not compare what you can buy for the $$ here vs. SD.

To say you can buy twice the home in SD is not to tell the whole story. You can buy twice the square footage, twice the lot size, twice the quality, 3 times the amenities, 1/10 the age, 10 times the weather, 1/3 the commute, the same quality of school, 5 times the beach, and 1/2 the stress for the same $$ in SD as you can in the Bay Area.

Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.

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