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Old 07-20-2017, 02:00 AM
 
Location: San Francisco Bay Area, California
522 posts, read 737,476 times
Reputation: 638

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I bought a house early last month and since then it has increased in value by nearly 15k. If you own property in the Bay Area, you basically have a money printer.
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Old 07-20-2017, 02:11 AM
 
Location: Phoenix
3,211 posts, read 2,243,156 times
Reputation: 2607
Quote:
Originally Posted by PixelatedTherapy View Post
I bought a house early last month and since then it has increased in value by nearly 15k. If you own property in the Bay Area, you basically have a money printer.
Sorry but this sounds a lot like the people that were buying last bubble. I don't think we'll see a crash like that for 30 years or so but you never know and I think the Bay Area prices will start falling when interest rates rise....guess we'll see.
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Old 07-20-2017, 08:04 AM
 
958 posts, read 1,147,516 times
Reputation: 1795
Quote:
Originally Posted by PixelatedTherapy View Post
I bought a house early last month and since then it has increased in value by nearly 15k. If you own property in the Bay Area, you basically have a money printer.
Yeah, but the money only prints if you sell. 2007 is calling.... Just check out the 600k cozy charmer on sfgate this morning...
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Old 07-20-2017, 09:12 PM
 
5,888 posts, read 3,225,564 times
Reputation: 5548
Quote:
Originally Posted by PixelatedTherapy View Post
I bought a house early last month and since then it has increased in value by nearly 15k. If you own property in the Bay Area, you basically have a money printer.
But it will cost you 50K to sell it...so you still have a ways to go to turn a profit.
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Old 07-20-2017, 09:54 PM
 
Location: I is where I is
2,096 posts, read 2,326,478 times
Reputation: 2359
A nice house for $1 million only costs you $200K down and $5K a month for 30 years... Great market...
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Old 07-20-2017, 10:00 PM
 
Location: America's Expensive Toilet
1,516 posts, read 1,248,669 times
Reputation: 3195
Saw some house last week that sold 250-300K over asking. Where are these crazy people coming from?
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Old 07-21-2017, 12:02 AM
 
478 posts, read 691,360 times
Reputation: 546
You totally are forgetting the fees and taxes lol.
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Old 07-21-2017, 12:13 AM
 
Location: Silicon Valley, CA
13,561 posts, read 10,356,919 times
Reputation: 8252
Quote:
Originally Posted by PixelatedTherapy View Post
I bought a house early last month and since then it has increased in value by nearly 15k. If you own property in the Bay Area, you basically have a money printer.
Well, but it's not liquid and you really can't use it unless you sell it. And then, you need to find another place...
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Old 07-21-2017, 12:30 AM
 
Location: State of Transition
102,211 posts, read 107,904,670 times
Reputation: 116159
Quote:
Originally Posted by American Expat View Post
Sorry but this sounds a lot like the people that were buying last bubble. I don't think we'll see a crash like that for 30 years or so but you never know and I think the Bay Area prices will start falling when interest rates rise....guess we'll see.
Pix bought in Vallejo, which reports say is in the process of being "discovered" as the last outpost of cheap housing on the Bay. Pix made a pretty smart move. Daring, but smart.
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Old 07-21-2017, 12:31 AM
 
Location: State of Transition
102,211 posts, read 107,904,670 times
Reputation: 116159
Quote:
Originally Posted by phantompilot View Post
But it will cost you 50K to sell it...so you still have a ways to go to turn a profit.
She's only been there a month. I think she'll be around awhile...
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