Average price of a Palo Alto home ... (Redwood City, Mountain View: mortgage, condominiums)

[Ajit]

Hi All,

I am new to this forum.

I am still a student, and I got interested in mortgage etc. because ultimately I would like to purchase a house. I was wondering what is the average price like for a home in Palo Alto, outside Stanford?

I have heard of prices like $2M - $7M, but I wanted to confirm. When I calculated mortgage for a 30 year repayment period with a 6.25% interest, it seems that I have to make monthly payments of $12000 or so. This is like waaaaaay above what I will be able to afford in the coming few years.

Also, I was wondering what is the average amount of monthly mortgage that residents in Palo Alto pay. If anyone can give me a ballpark figure, that would be great!

Thanks for any help,
Ajit.

[Need_affordable_home]

Allow me to be of help. I wish links were allowed here. You however can do a search for it. $2 to $7 million? LOL you want a house or a mansion? I have found some prices that might be affordable for you.


Condominiums:


$279,000
1 Bed, 1 Bath
663 Sq. Ft.

$299,888
1 Bed, 1 Bath
698 Sq. Ft.

$415,000
2 Bed, 2 Bath
1,009 Sq. Ft.


Cheapest house:

$409,999
2 Bed, 1 Bath
530 Sq. Ft.


Theres nothing nice till 3/4 million for a nice small house. They can indeed go up into the multi millions(4+ is multi) How much can you afford by the way?

[jcp123]

PA is one of the more expensive places in the Bay Area, and a tad bit snobby, too, if that kind of thing bothers you (I went to high school there). You could probably look to Mountain View just to the southwest or Redwood City just to the north up the peninsula if you wanted to go a little cheaper.

[romeoDNB]

Yeah Redwood City seems like a nice place to live. I work there and the city has a small-town attitude about it, which is cool. It's also close to SF and SJ.