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Old 02-13-2013, 06:46 PM
 
343 posts, read 397,087 times
Reputation: 145

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Quote:
Originally Posted by shooting4life View Post
I think a better comparison would be required house hold income to purchase a house currently. Because someone purchased and payed a house off 30 years ago and now lives off of a fixed lower income brings a lot of these numbers down. Try and buy a house in any of those towns with a joint income listed. You could not get a lone with that income, let alone trying to save 20% down payment.
Well then you can buy or rent in the other 99.7% of the bay area and be much more wealthy than your neighbors
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Old 02-13-2013, 07:49 PM
 
472 posts, read 513,431 times
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Quote:
Originally Posted by Obamadon1 View Post
It's below the median household income in Atherton ($186k). Woodside is $216k. Blackhawk is $164k. Those are three tiny towns. What other towns have a higher median household income?
According to the map:

Los Altos Hills $202.5K
Palo Alto Hills $219.7K
Palo Altos Cresent Park $209K
Old Palo Alto $169K
Portola Valley $171.2K
West Menlo Park $227.5K
Emerald Lake Hills $180.9K
North Los Altos $160.8K
Loyola area of Los Altos $185.7K
South Los Altos $171.5K
Saratoga foothills $184.7K
Saratoga central $166.1K
Monte Sereno $176.4K

I'm thinking, from the dark green hue, there might be more.
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Old 02-13-2013, 09:26 PM
 
411 posts, read 643,779 times
Reputation: 460
Quote:
Originally Posted by charmed59 View Post
According to the map:

Los Altos Hills $202.5K
Palo Alto Hills $219.7K
Palo Altos Cresent Park $209K
Old Palo Alto $169K
Portola Valley $171.2K
West Menlo Park $227.5K
Emerald Lake Hills $180.9K
North Los Altos $160.8K
Loyola area of Los Altos $185.7K
South Los Altos $171.5K
Saratoga foothills $184.7K
Saratoga central $166.1K
Monte Sereno $176.4K

I'm thinking, from the dark green hue, there might be more.
Those numbers are high, but still don't explain to me how housing prices are now about 1.5M-2M on average on those areas. Granted, most ppl didn't buy their houses way back when housing values were this high, but housing values are normally 2.5-3X annual household income. I don't think houses in those areas were less than 600k on average since the early 90's if not earlier
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Old 02-13-2013, 09:55 PM
 
472 posts, read 513,431 times
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I lived in the North Los Altos area. Turnover in that area was very low. I bought my house in 95 for just over $700K. There are still people living on that street that paid less than $100K a long time ago. A year ago, a 1/3 acre lot in that neighborhood sold for 1.6M.

I'm thinking the mean is exactly that. There are elderly folks living off pensions. There are families that bought in 20 years ago, and then there are the new wealthy folks.
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Old 02-14-2013, 10:23 AM
 
Location: SF Bay Area
12,287 posts, read 8,538,510 times
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Quote:
Originally Posted by charmed59 View Post
I lived in the North Los Altos area. Turnover in that area was very low. I bought my house in 95 for just over $700K. There are still people living on that street that paid less than $100K a long time ago. A year ago, a 1/3 acre lot in that neighborhood sold for 1.6M.

I'm thinking the mean is exactly that. There are elderly folks living off pensions. There are families that bought in 20 years ago, and then there are the new wealthy folks.
This is where prop 13 really increase house prices. It encourages people to not move. So people stay in areas because of the tax rate when in other states they would move further away from business centers for a lower cost of living. No matter what you think of prop 13 it has really skewed the market in many areas of the RBA.
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Old 02-14-2013, 10:50 AM
 
2,109 posts, read 5,313,754 times
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Quote:
Sometimes I think people have forgotten how to have patience. I have been living in the Bay Area for almost 30 years. For the first 10 years, I rented apartments with roommates. That's how I could afford it. For five years, I rented an apartment on my own. Finally, then, I bought my first house. So it took 15 years of gaining skills and experience, moving up in my career, and increasing my my salary, until I could reach that level of stability and security.
That's actually what we did as well. I moved to the Bay Area when I was in my early 20's. I too rented with housemates/room mates, saved up money, and bought a house in the East Bay last year. It took about 12 years of saving to do so.

For a long time the idea was to save up a lot of cash and move out of state. But in reality, the type of work I do is most plentiful and available here and even the closest tech related cities like Austin had a scant few positions available. So it makes sense to stay here. That doesn't mean its cheap. But patience is indeed a virtue.
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Old 02-14-2013, 01:31 PM
 
Location: San Jose, CA
7,688 posts, read 26,740,242 times
Reputation: 3592
Quote:
Originally Posted by shooting4life View Post
This is where prop 13 really increase house prices. It encourages people to not move. So people stay in areas because of the tax rate when in other states they would move further away from business centers for a lower cost of living. No matter what you think of prop 13 it has really skewed the market in many areas of the RBA.
RBA? I see someone reads Burbed!
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Old 02-15-2013, 01:02 AM
 
27,337 posts, read 56,079,275 times
Reputation: 21700
Quote:
Originally Posted by shooting4life View Post
This is where prop 13 really increase house prices. It encourages people to not move. So people stay in areas because of the tax rate when in other states they would move further away from business centers for a lower cost of living. No matter what you think of prop 13 it has really skewed the market in many areas of the RBA.
Propositions 60 and 90 allow Seniors defined as those 55 and older to move without losing their tax base...

Have several friends from Santa Clara that move to Grass Valley area in the Sierra Foothills and their taxes remained the same.
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Old 02-15-2013, 12:17 PM
 
Location: Lafayette, CA
2,518 posts, read 3,602,468 times
Reputation: 621
Quote:
Originally Posted by shooting4life View Post
I think parents fail to realize is you get out of school what you put into it and a good student will excel in a "3" or "5" school as much as a "10" school.
That's not entirely true. The high API schools often have more engaged teachers, higher testing standards, and overall more course work for students to complete geared towards college success.

Also students at these high API schools have to compete with other motivated, and intelligent students to get noticed. There's a reason why Lowell High sends more students to Top rated Universities than Oakland High.
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Old 02-15-2013, 12:48 PM
 
Location: SF Bay Area
12,287 posts, read 8,538,510 times
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Quote:
Originally Posted by DocGoldstein View Post
That's not entirely true. The high API schools often have more engaged teachers, higher testing standards, and overall more course work for students to complete geared towards college success.

Also students at these high API schools have to compete with other motivated, and intelligent students to get noticed. There's a reason why Lowell High sends more students to Top rated Universities than Oakland High.
I am not saying average schools and "10" schools are the same. Obviously the "10" schools will be better. But receiving a good education has as much to do with what parents and students put into it as the teachers. A good student will excel in an average school; a bad student will fail in a good school.

The differences between average and great schools are not as big as people think. I am saying people should weight those differences if it means purchasing a house for 400k or 900k.
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