Properties: I've always known Bay Area was expensive, but holy moly.

[Zeze]

ATOTers in Bay Area, how do you do it?

It didn't hit me until I visited a friend in CA. His dad is moderately successful, runs an import gig between HK and owns a couple of properties. He and his wife are living rent-free at one of the house while they save up to buy a place of their own. Both the guy and his wife make about 100-150k I presume, so 300K combined.

They live in the suburbs of San Jose, I think 15 min drive from Barking Crab. The area was nothing special to me- houses after houses, they don't particularly look luxurious.

The property they lived in was a 2 bed? I think it was 3. It is probably about 1500-1800 SF, no basement. All 1 floor (typical CA style). Also a nice humble 800-1000 SF backyard.

I thought the house would cost 700-800k, adding 200k premium. Or maybe even 1 million. They're 50 mins from SF afterall and it's not busy by any means.

It's 1.6 million dollars!

A similar place like that in NJ (where I live by Hudson River), with similar commute to a major city (NYC / SF) costs 500K.

How do people own homes up there? How do you do it ATOT?

 

[Slew Foot]

San Diego or San Francisco?

the Sf peninsula is stupid expensive because people who own businesses in china buy up tons of places as a tax dodge and rent them out.

 

[Zeze]

San Diego or San Francisco?

the Sf peninsula is stupid expensive because people who own businesses in china buy up tons of places as a tax dodge and rent them out.

Meant to say San Jose, fixed.

 

[K1052]

Edit: see you corrected

How do we do it? Pay out the ass in rent...that's how.

 

[K1052]

San Diego or San Francisco?

the Sf peninsula is stupid expensive because people who own businesses in china buy up tons of places as a tax dodge and rent them out.

Also cash buyers from tech paydays preying upon limited supply.

 

[MongGrel]

I've seen houses in the neighborhood here sell for 800K that seem pretty overpriced.

Got me.

 

[maddogchen]

we save, save, save, save....and hope to cash out on our tech stocks. If your friend is staying with his parents and making 300k, hopefully he's saving 150-200k a year

 

[Drako]

They're 50 mins from SF afterall and it's not busy by any means.

This part had me LOLing.

 

[Ken g6]

Yikes! From the description, I would guess a house like that here in Colorado would be about $160,000. No, I didn't forget a zero.

 

[CraKaJaX]

Yikes! From the description, I would guess a house anywhere but NY or CA would be about $160,000. No, I didn't forget a zero.

ftfy.

 

[funboy6942]

LOL I got me a 2400 sqft home, 4 br, 2b, 2 living room, computer room, 2 work space, full basement, 2 1/2 car garage, on .6 acre of land, in a great neighborhood, great schools, great people, for $49.5K. Houses here a SILLY ASS cheap! Check it out 38330 for yourself and see......country living, nothing like it in the world

 

[jdoggg12]

Bought my place in the East Bay - I rent out 2 of the 3 spare rooms to cover about half my mortgage. It's not ideal but it's just an investment. It's up about $160k since I bought it in 2013.

I'll be leaving the Bay once my daughter turns 18. It's just too expensive to live here on a normal salary. I have friends in other states making 2/3 what I do with brand new 3k sq/ft homes and nice, new cars... and still have more spare cash than I do.

 

[Ns1]

LOL I got me a 2400 sqft home, 4 br, 2b, 2 living room, computer room, 2 work space, full basement, 2 1/2 car garage, on .6 acre of land, in a great neighborhood, great schools, great people, for $49.5K. Houses here a SILLY ASS cheap! Check it out 38330 for yourself and see......country living, nothing like it in the world

it's cheap because nobody besides you wants to live there.

 

[RossMAN]

LOL I got me a 2400 sqft home, 4 br, 2b, 2 living room, computer room, 2 work space, full basement, 2 1/2 car garage, on .6 acre of land, in a great neighborhood, great schools, great people, for $49.5K. Houses here a SILLY ASS cheap! Check it out 38330 for yourself and see......country living, nothing like it in the world

I just put in an offer for a house, looks like we're gonna be neighbors!

 

[funboy6942]

$59k will get u this down the street from me....

http://www.realtor.com/realestateandhomes-detail/227-W-Broad-St_Dyer_TN_38330_M87365-08580

 

[funboy6942]

I just put in an offer for a house, looks like we're gonna be neighbors!

Did you really????

 

[jdoggg12]

I just put in an offer for a house, looks like we're gonna be neighbors!

4.2k sq/ft house for under $500k?!
4.2k sq/ft house with only 3 BR and 2 Bath? Those rooms must be stupid large... like typical Bay area apartment sized

As a lifelong Californian, I've never seen anything like that.

 

[RossMAN]

Did you really????

Yep went through checkout, used coupon code SUCKAH and paid for it with my Amex :thumbsup:

I have a bridge to sell you, if you're interested?

 

[Ns1]

4.2k sq/ft house for under $500k?!
4.2k sq/ft house with only 3 BR and 2 Bath? Those rooms must be stupid large... like typical Bay area apartment sized

As a lifelong Californian, I've never seen anything like that.

You can still find cheap homes/land in the BFE sections of California.

Yep went through checkout, used coupon code SUCKAH and paid for it with my Amex :thumbsup:

I have a bridge to sell you, if you're interested?

RossBURN

 

[EliteRetard]

I just put in an offer for a house, looks like we're gonna be neighbors!

Last sold: Mar 2005 for $53,000

 

[RossMAN]

Last sold: Mar 2005 for $53,000

and now they're selling for almost 9x as much?

Must be hella meth stash or improvements to justify that asking price.

 

[Mr.IncrediblyBored]

Last sold: Mar 2005 for $53,000

Guessing that was the price of the vacant land.

* Built in 2007

 

[K1052]

4.2k sq/ft house for under $500k?!
4.2k sq/ft house with only 3 BR and 2 Bath? Those rooms must be stupid large... like typical Bay area apartment sized

As a lifelong Californian, I've never seen anything like that.

Have you never been to the Central Valley?

 

[CraKaJaX]

Yep went through checkout, used coupon code SUCKAH and paid for it with my Amex :thumbsup:

I have a bridge to sell you, if you're interested?

PWN3D!

I was going to say.... that interior. D: You can do better than that.

 

[EliteRetard]

and now they're selling for almost 9x as much?

Must be hella meth stash or improvements to justify that asking price.

The only way I can even imagine that being remotely feasible would be if it sold as a bare property before, and they built the house on it. I'm tempted to walk over there and hand them $100,000 cash for it (seriously).