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Everyone likes to talk about how crazy home prices have gotten in their metro, L.A. is one of the few where that really does seem like the case. You have completely normal, non-trendy areas where every home is literally a million dollar house these days.
Conversely, here is a very nice looking 2/2 963 square foot condo in Chula Vista, CA for $310K:
Here is a 1/1 613 square foot condo in a sub-coastal area of San Diego with views of the La Jolla hills and that should be perfectly positioned for the new Mid Coast trolley extension:
People can say what they want but San Diego is still a bargain.
There’s great bargains to be had in San Diego (relatively speaking), but the devil is in the details, or should I say HOA. I looked at the second listing’s complex a couple of years back as an investment property seeing its next to a trolley station and about 1 mile to SDSU. The HOA was $475 for nothing more than a tiny pool, clubhouse, and limited green space.
It was a killer little spot with the bedrooms separated at opposite ends of the unit with the main bath adjacent to the second bedroom. The view (while sitting down where the couch would be or on the deck) was of the green hillside behind you with complete privacy. Standing up you saw the parking lot as well. I still keep an eye on it despite the HOA. Just waiting for one that needs work and is underpriced.
There’s great bargains to be had in San Diego (relatively speaking), but the devil is in the details, or should I say HOA. I looked at the second listing’s complex a couple of years back as an investment property seeing its next to a trolley station and about 1 mile to SDSU. The HOA was $475 for nothing more than a tiny pool, clubhouse, and limited green space.
It was a killer little spot with the bedrooms separated at opposite ends of the unit with the main bath adjacent to the second bedroom. The view (while sitting down where the couch would be or on the deck) was of the green hillside behind you with complete privacy. Standing up you saw the parking lot as well. I still keep an eye on it despite the HOA. Just waiting for one that needs work and is underpriced.
HOAs and property taxes are what crush downtown Chicago high rise values. $1,200 HOA p/month + $1k p/month in property taxes is not unrealistic. That's why you can scoop a condo on the Gold Coast for $400k.
I found 11 listings under $325k in San Francisco, most of them studios and under 500 square feet. I found a fire sale, 2 bed/2 baths for $150,000. Then I read it was a fractional sale for 1/10th of a condo. Oy vey.
Good chance a lot of those are income restricted btw
Wow! Money goes pretty far in ABQ, all in all I was impressed!
Prices will go up. Netflix is establishing its North American production center here and NBC-Universal is already here so demand will likely raise prices.
https://www.realtor.com/realestatean...5-35684#photo2. This is a bit more further out in the exurbs but most people still commute to Baton Rouge, some commute to New Orleans which is further away. This sold for exactly $300,000.
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