Home › Forums › Closed Forums › Properties or Areas › Price movement over 3 years in certain RSF and Bay Area homes
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raptorduck.
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January 24, 2008 at 10:09 AM #142277January 24, 2008 at 10:15 AM #142287
Coronita
ParticipantFor 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!
January 24, 2008 at 10:15 AM #142060Coronita
ParticipantFor 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!
January 24, 2008 at 10:15 AM #142389Coronita
ParticipantFor 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!
January 24, 2008 at 10:15 AM #142327Coronita
ParticipantFor 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!
January 24, 2008 at 10:15 AM #142300Coronita
ParticipantFor 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!
January 24, 2008 at 10:25 AM #142399raptorduck
ParticipantAs 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 $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.
I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.
In other words, . . . hell I dunno.
January 24, 2008 at 10:25 AM #142338raptorduck
ParticipantAs to the industry comments, I tend to agree with fat_lazy well placed comments.
While the Biotech industry in SD remains strong (it is the 3rd largest such market in the US behind the Bay Area and Boston area), telecom and a few other tech industries have suffered in recent years. Silicon Valley is just very different from any other market and generates more VC capital than the next 10 markets combined yada yada, so you can’t really compare it with other markets.
But I don’t know what that really predicts about housing prices, other than any drop here will be less severe. But any increase here is more severe. We are not immune. The outlying areas of the Bay Area (East Bay on the other side of the East Bay hills/680, far South Bay south of San Jose etc) are getting hit as hard as SD is. The Penninsula (where Los Altos/Los Altos Hills/Atherton/Hillsbouroug/Portola Valley/Woodsid are) stay strong because there is still enough $$ 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.
January 24, 2008 at 10:25 AM #142070raptorduck
ParticipantAs 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 $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.
I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.
In other words, . . . hell I dunno.
January 24, 2008 at 10:25 AM #142310raptorduck
ParticipantAs to the industry comments, I tend to agree with fat_lazy well placed comments.
While the Biotech industry in SD remains strong (it is the 3rd largest such market in the US behind the Bay Area and Boston area), telecom and a few other tech industries have suffered in recent years. Silicon Valley is just very different from any other market and generates more VC capital than the next 10 markets combined yada yada, so you can’t really compare it with other markets.
But I don’t know what that really predicts about housing prices, other than any drop here will be less severe. But any increase here is more severe. We are not immune. The outlying areas of the Bay Area (East Bay on the other side of the East Bay hills/680, far South Bay south of San Jose etc) are getting hit as hard as SD is. The Penninsula (where Los Altos/Los Altos Hills/Atherton/Hillsbouroug/Portola Valley/Woodsid are) stay strong because there is still enough $$ 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.
January 24, 2008 at 10:25 AM #142297raptorduck
ParticipantAs 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 $$ with buyers who don’t want a long commute or work at Google in Mountain View. But in SD, I would say that CV is holding its own vs other areas for the same reasons, albeit on a smaller scale.
I noticed RSF has a lot of out of town/out of country owners, which makes that analysis much more difficult.
In other words, . . . hell I dunno.
January 24, 2008 at 10:34 AM #142419raptorduck
ParticipantRight you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.
I have to beg my wife to not compare what you can buy for the $$ 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 $$ in SD as you can in the Bay Area.
Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.
January 24, 2008 at 10:34 AM #142330raptorduck
ParticipantRight you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.
I have to beg my wife to not compare what you can buy for the $$ 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 $$ in SD as you can in the Bay Area.
Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.
January 24, 2008 at 10:34 AM #142090raptorduck
ParticipantRight you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.
I have to beg my wife to not compare what you can buy for the $$ 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 $$ in SD as you can in the Bay Area.
Really, what I am considering in SD (RSF mind you), were it located in Los Altos Hills, for example, would cost 3 times the price.
January 24, 2008 at 10:34 AM #142317raptorduck
ParticipantRight you are again Fat_lazy. Having looked at well over 100 homes in both markets this past year your point could not ring more true.
I have to beg my wife to not compare what you can buy for the $$ 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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