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Old 06-26-2010, 06:50 PM
 
2 posts, read 3,082 times
Reputation: 10

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We're looking to relocate to the Bay Area from the midwest. I'll be working in San Carlos, and my wife will be working at one of the large research hospitals (Stanford, UCSF). We have two young kids, and one will be starting kindergarten this fall. We would like to buy a small house, but will rent if we can't find anything to buy.

We're looking for the following:
1. less than a 30 minute commute by car to San Carlos
2. good elementary schools
3. safe neighborhood
4. small budget (less than $2,500 per month)
5. 2+ bedrooms, 1.5+ bathrooms
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Old 06-26-2010, 06:53 PM
 
Location: California
37,135 posts, read 42,222,200 times
Reputation: 35014
I would ALWAYS recommend renting first. Until you have lived somewhere you really won't know the ins and out of the area and where you really want to settle down home-ownership wise. WELCOME TO CA!
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Old 06-27-2010, 02:13 PM
 
2 posts, read 3,082 times
Reputation: 10
Default Income & home prices

Maybe someone can answer this riddle for me.

According to city-data.com for San Carlos:
Estimated median household income in 2008: $106,365
Mean prices in 2008: All housing units: $1,192,416

How could people with a household income of $106k even come close to affording to buy a home in San Carlos?? Does everyone rent? Are there a lot of *super* expensive homes that make the mean so high? It seems like a family with $106k income might be able to afford a $300k home, max.

Baffling.
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Old 06-27-2010, 02:43 PM
 
Location: California
37,135 posts, read 42,222,200 times
Reputation: 35014
Check out Trulia for current homes for sale and get a sampling of the prices. Yes, many are that expensive. Most people bought their homes before the housing boom and stuck around because of the equity. I don't live in San Carlos but in another Bay Area city and we bought out house 19 years ago. We couldn't afford to buy it today.
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Old 06-27-2010, 03:13 PM
 
Location: Northern California
3,722 posts, read 14,725,748 times
Reputation: 1962
Well, San Carlos is a very nice and safe city. The schools are very good. I think you would like it there. There is a nice downtown with lots of restaurants. Not every house in San Carlos is going for over a million. There are some smaller 2br/1ba homes going for about $650K - $800K. Condos in San Carlos are in the $450K - $550K range.

Go to The White Oaks Blog: A San Carlos Real Estate Blog by A San Carlos Realtor. for San Carlos real estate info.
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