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Old 02-04-2013, 04:58 PM
 
14,080 posts, read 26,034,948 times
Reputation: 8237

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Quote:
Originally Posted by sonarrat View Post
Personally, given that kind of scratch, I'd buy an apartment building and live in the biggest unit for free.
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Old 02-04-2013, 05:51 PM
 
Location: Studio City, CA
116 posts, read 86,095 times
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Quote:
Originally Posted by sonarrat View Post
Banks will typically lend out 3-4x income, so to pull that kind of a loan you need to be making $1 million a year anyway.

Personally, given that kind of scratch, I'd buy an apartment building and live in the biggest unit for free.
What if you want a yard?
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Old 02-04-2013, 05:55 PM
 
6,805 posts, read 1,394,119 times
Reputation: 1911
Isn't the price the ultimate deal breaker wherever you want to live? /shrug
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Old 02-04-2013, 06:08 PM
 
14,080 posts, read 26,034,948 times
Reputation: 8237
Quote:
Originally Posted by Senno View Post
Isn't the price the ultimate deal breaker wherever you want to live? /shrug
Amen to that...

I've been looking at property with land... everything I like is either hours away, too hot a climate for my tastes or is unaffordable on an engineer's salary...

Found my forever home last year that was a 98% on my requirement list... tried everything I could to make it mine... even came in a 100k higher than the price it sold for... bad timing on my part.

The day I submitted my offer, the seller had accepted an offer earlier in the day and for 45 days... I never got out of second position...

Even had a sit down with the buyer... he told me he would consider selling it to me for 300k over what he had just paid... wished him well.
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Old 02-04-2013, 06:46 PM
 
Location: San Jose, CA
6,851 posts, read 16,846,146 times
Reputation: 2568
Quote:
Originally Posted by Mark Fitsburgh View Post
What if you want a yard?
I think you missed the "free" part. Go to the park if you want grass!
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Old 02-04-2013, 11:40 PM
 
Location: Studio City, CA
116 posts, read 86,095 times
Reputation: 39
Quote:
Originally Posted by sonarrat View Post
I think you missed the "free" part. Go to the park if you want grass!
Not even close to the same thing. I like privacy at my home. If it were one of my many rental properties then......
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Old 02-05-2013, 12:04 AM
 
Location: Pleasanton Ca
834 posts, read 1,234,594 times
Reputation: 566
Quote:
Originally Posted by Ultrarunner View Post
Amen to that...

I've been looking at property with land... everything I like is either hours away, too hot a climate for my tastes or is unaffordable on an engineer's salary...

Found my forever home last year that was a 98% on my requirement list... tried everything I could to make it mine... even came in a 100k higher than the price it sold for... bad timing on my part.

The day I submitted my offer, the seller had accepted an offer earlier in the day and for 45 days... I never got out of second position...

Even had a sit down with the buyer... he told me he would consider selling it to me for 300k over what he had just paid... wished him well.
Wow that's crazy. I would have had a hard time keeping a straight face had he said that to me.
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Old 02-05-2013, 12:29 AM
 
Location: Lafayette, CA
2,518 posts, read 1,761,039 times
Reputation: 589
I don't understand why young people put themselves through this in the Bay Area. Loading yourself up with $750,000 in mortgage debt just to live in a 1,400 sqft shoebox in San Mateo. Insanity.
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Old 02-05-2013, 02:11 AM
 
14,380 posts, read 12,288,216 times
Reputation: 10311
Quote:
Originally Posted by capoeira View Post
The kind of home one buys in the Bay area will probably be one half or one third the size they would buy in most normal places. Or buy the same size home at 3 to 5 times the price.
^^This^^

The difference might not be quite as stark if one is comparing NOVA...but real estate is still significantly higher here, especially in San Francisco, Marin County, The Peninsula, & San Jose/Silicon Valley. The North Bay & East Bay are still very expensive but cheaper than the rest of the Bay Area.
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Old 02-05-2013, 02:22 AM
 
Location: State of Transition
32,841 posts, read 18,697,876 times
Reputation: 22850
Quote:
Originally Posted by Mark Fitsburgh View Post
What you like i don't like. I don't like that cookie cutter suburban vibe. Berkeley reminds me of studio city without the celebrities and ill be closer to work as i'll be teaching at the University.
"Cookie cutter suburban vibe"? In ORINDA?? Orinda is the farthest thing from that. Unless there's been some new development the last 20 years that I don't know about. Oh well. Whatever. Berkeley's good, too.
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