When do you think is a good time to buy a larger house in California.

[killster1]

Looking to spend 400-500k on a 5+ bedroom house, currently in a 3 bedroom here in California. I wonder if the prices will drop by next summer. I also wonder if i should wait for a brand new house to be built or buy a 2019 sooner then later. I hate decisions But it seems it keeps going up and up, there are less houses for sale and interest rates are so low.

I am also considering buying 20 acres and building my own house with a pistachio grove.

Any ideas / theories /

2021 housing crash or not?

 

[Greenman]

What part of California? You sure as hell aren't getting 5 bedrooms in the Bay area for $500k.

I don't have a clue as to which way prices will go. I don't see a crash like 08 happening, and with most of the state on fire it seems like we'll be needing even more new homes. But then again most of the state is on fire and a lot of folks may decide to leave.

 

[killster1]

What part of California? You sure as hell aren't getting 5 bedrooms in the Bay area for $500k.

I don't have a clue as to which way prices will go. I don't see a crash like 08 happening, and with most of the state on fire it seems like we'll be needing even more new homes. But then again most of the state is on fire and a lot of folks may decide to leave.

i dont think most of the state is on fire, it just seems like that with how much smoke there is, no clue or guesses heh great! between LA and SF. Of course you cant buy anything nice for 500k in SF but you could in the bay area, just get 2x2bedroom houses for 250k each i see a lot of them.

 

[Greenman]

i dont think most of the state is on fire, it just seems like that with how much smoke there is, no clue or guesses heh great! between LA and SF. Of course you cant buy anything nice for 500k in SF but you could in the bay area, just get 2x2bedroom houses for 250k each i see a lot of them.

I don't know what part of the bay area you're looking at, I live in the bay area and don't know where you could find a one bedroom condo for 250k.

 

[killster1]

I don't know what part of the bay area you're looking at, I live in the bay area and don't know where you could find a one bedroom condo for 250k.

the bay area is a huge place , hard to say a def price but the closer to SF the more expensive of course. I live in central valley, no more bay area worries for me

 

[Sukhoi]

You can't buy a garage for $250K anywhere near the Bay Area.

 

[killster1]

You can't buy a garage for $250K anywhere near the Bay Area.

Here is the first house after looking exactly 1 second https://www.zillow.com/homedetails/567-Hermitage-Ct-567-San-Jose-CA-95134/2078056155_zpid/

Maybe you don't know what your talking about. And maybe its off topic since I'm not in the bay area and maybe my budget is 400 to 500k thanks so much for your post tho. Super helpful

 

[Sukhoi]

That's a trailer park.

 

[Sgt. York]

That's a double wide mobile home on a slab.

 

[killster1]

L9lol ya but its still 4 bedroom 3 bathroom. Only issue is you gotta pay some kinda lot fee I assume. Anyway like I said your post is pointless off topic nd didn't mention prices rising or falling.

 

[Greenman]

L9lol ya but its still 4 bedroom 3 bathroom. Only issue is you gotta pay some kinda lot fee I assume. Anyway like I said your post is pointless off topic nd didn't mention prices rising or falling.

Mobile homes cost a lot les than traditional homes because they're cheaply built. In this case, you won't even own the land it's sitting on. You're renting a parking space.

Go find your five bedroom house in the bay area and buy it.

 

[Red Squirrel]

Never. Take the money you would use to buy a house there and buy a bigger house on a bigger plot of land practically anywhere else.

Bonus: it has a lesser chance of burning down if it's not in California.

 

[killster1]

Mobile homes cost a lot les than traditional homes because they're cheaply built. In this case, you won't even own the land it's sitting on. You're renting a parking space.

Go find your five bedroom house in the bay area and buy it.

How many times do you have to be told i dont live in the bay area! this is central valley and i wouldnt mind living in a mobile home im not fancy, i lived in the back of a pickup truck before, now i currently own a 3 bedroom 2 bath with a pool, just want something bigger with another bathroom.

Never. Take the money you would use to buy a house there and buy a bigger house on a bigger plot of land practically anywhere else.

Bonus: it has a lesser chance of burning down if it's not in California.

i dont live in the forest. I wouldnt want to commute to work so i will buy another house somewhere around here. Thanks for that brilliant advice folks. Once again, zero opinions on the market going higher or lower. My guess is that it will crash, but how long till that happens 9 months 1 year or 2 years? they say usually election year the prices go up 4% then the first year of office another 3%, but second year in office is when it should crash imo specially if its biden it might crash right away Im happy just staying here but a giant house would be nice. Most likely ill wait a year for people to start building more houses.

 

[BoomerD]

How many times do you have to be told i dont live in the bay area! this is central valley and i wouldnt mind living in a mobile home im not fancy, i lived in the back of a pickup truck before, now i currently own a 3 bedroom 2 bath with a pool, just want something bigger with another bathroom.


i dont live in the forest. I wouldnt want to commute to work so i will buy another house somewhere around here. Thanks for that brilliant advice folks. Once again, zero opinions on the market going higher or lower. My guess is that it will crash, but how long till that happens 9 months 1 year or 2 years? they say usually election year the prices go up 4% then the first year of office another 3%, but second year in office is when it should crash imo specially if its biden it might crash right away Im happy just staying here but a giant house would be nice. Most likely ill wait a year for people to start building more houses.

Where in the valley? I lived in the Modesto/Turlock area for 25 years. Housing prices vary greatly depending on location. (duh)

 

[killster1]

Where in the valley? I lived in the Modesto/Turlock area for 25 years. Housing prices vary greatly depending on location. (duh)

SIGH.. of course they vary, my question over and over and over, how long before the bubble pops. its way to high right now, its going to go down but how long I already made my prediction, if not a lot in 6 months then in 2 years

 

[Greenman]

SIGH.. of course they vary, my question over and over and over, how long before the bubble pops. its way to high right now, its going to go down but how long I already made my prediction, if not a lot in 6 months then in 2 years

No one knows what's going to happen to the housing market. It will go up or down. My guess is down as we continue burn our economy through forced unemployment.

 

[nisryus]

For now the housing prices in the Bay Area will probably not going to drop much in the next few years. People are buying more houses than Condos, due to covid and people now prefer to live in a house vs confine space in a building. Plus most tech companies are still around. Even with the fire people are still moving to the Bay Area.

*I have been monitoring the real estate for years as the wife wants to move back. Unless there is an earth quake or something like the dot.com bubble in 2001, that will be highly unlikely for us to buy a house. If a real house is listed for under 799k, prefer to fight off bids from others. The list priced would be market value and the lowest, since there is always the 'bidding war'.
My friend had to over bid by 50k for a 926 sq ft house in Hayward just three months ago, and this was when the bidding war was supposed to be cool down due to covid...

 

[nisryus]

Forgot to mentioned that 50k was already on the lower range when it comes to bidding. He was lucky because the house was furnished but was just located in the bad side of the town, and schools were lowest scored.

 

[killster1]

For now the housing prices in the Bay Area will probably not going to drop much in the next few years. People are buying more houses than Condos, due to covid and people now prefer to live in a house vs confine space in a building. Plus most tech companies are still around. Even with the fire people are still moving to the Bay Area.

*I have been monitoring the real estate for years as the wife wants to move back. Unless there is an earth quake or something like the dot.com bubble in 2001, that will be highly unlikely for us to buy a house. If a real house is listed for under 799k, prefer to fight off bids from others. The list priced would be market value and the lowest, since there is always the 'bidding war'.
My friend had to over bid by 50k for a 926 sq ft house in Hayward just three months ago, and this was when the bidding war was supposed to be cool down due to covid...

lulz not asking about the bay area but nice to hear a opinion. I used to live on A street in hayward, maybe that is the bad side of town.

 

[BoomerD]

SIGH.. of course they vary, my question over and over and over, how long before the bubble pops. its way to high right now, its going to go down but how long I already made my prediction, if not a lot in 6 months then in 2 years

that's a basically unanswerable question. Everyone can throw out WAG's, but that's all it would be...guesses.

 

[killster1]

that's a basically unanswerable question. Everyone can throw out WAG's, but that's all it would be...guesses.

well not everyone can guess it seems. i didn't ask for a definite fortuneteller reading just opinions and guesses.

 

[zinfamous]

i dont think most of the state is on fire, it just seems like that with how much smoke there is, no clue or guesses heh great! between LA and SF. Of course you cant buy anything nice for 500k in SF but you could in the bay area, just get 2x2bedroom houses for 250k each i see a lot of them.

um, what kind of rat-owned crack den are looking at for those prices anywhere in the Bay Area?

 

[killster1]

um, what kind of rat-owned crack den are looking at for those prices anywhere in the Bay Area?

IM NOT GOING TO MOVE TO THE BAY AREA. IM NOT GOING TO BUY A HOUSE IN THE BAY AREA. THANKS FOR YOUR GREAT INPUT!

 

[snoopy7548]

You should really try to stay away from the Bay Area if you want somewhat-reasonable housing.

 

[BoomerD]

IM NOT GOING TO MOVE TO THE BAY AREA. IM NOT GOING TO BUY A HOUSE IN THE BAY AREA. THANKS FOR YOUR GREAT INPUT!

but you know you wanna........

Seriously, teying to guess the housing market is nearly impossible. One "expert" will tell you the crash is coming "next week," while the others say next year, next decade......