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Old 12-07-2007, 08:20 AM
 
142 posts, read 538,050 times
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After the whole .com thing in SF and the corresponding real estate bubble, the value of condos in the city went down from what I'm told. How long did it take for the values to get back to what they were when they were at their highest? Thanks!
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Old 12-07-2007, 08:36 AM
 
Location: San Francisco Bay Area
1,482 posts, read 5,173,329 times
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About a year.
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Old 12-07-2007, 10:10 AM
 
142 posts, read 538,050 times
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Wow, that was fast. I'm afraid it won't be that fast here in the cesspool of city where I live--DC. I miss SF! My husband, in his infinite pre-marital wisdom, did everything wrong and bought at peak prices with a nearly criminal mortgage product and now we're stuck here for god knows how long. Anyways, thanks!
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Old 12-07-2007, 12:01 PM
 
Location: Los Altos Hills, CA
36,655 posts, read 67,499,960 times
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Yeah,
values recovered quickly and now far exceed those of the dot-com era. Same goes for single family homes.
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Old 12-07-2007, 04:37 PM
 
15,638 posts, read 26,249,738 times
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Quote:
Originally Posted by 18Montclair View Post
Yeah,
values recovered quickly and now far exceed those of the dot-com era. Same goes for single family homes.
I don't remember the dot com bubble bursting having much of negative effect on real estate at all -- seems to me when the stock market was horrible was when all the money started pouring into real estate and driving up the prices... the thought being if you couldn't make money in stocks you could make it in real estate...
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Old 12-07-2007, 05:09 PM
 
Location: SF Bay Area
14,317 posts, read 22,380,171 times
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Quote:
Originally Posted by shannobanano View Post
Wow, that was fast. I'm afraid it won't be that fast here in the cesspool of city where I live--DC. I miss SF! My husband, in his infinite pre-marital wisdom, did everything wrong and bought at peak prices with a nearly criminal mortgage product and now we're stuck here for god knows how long. Anyways, thanks!
You could always cut your losses and come back now. I suspect that prices here will shoot up again when 1) Bush is no longer in office dragging the country down; 2) Less money is used to fight his bogus wars; 3) More money is put into high-technology concerns here at home meaning that Silicon Valley will benefit; 4) The continuing influx of highly-intelligent, highly skilled people looking to move to the bay area; 5) After Bush leaves, a renewed interest in stem-cell research funding of which San Francisco and Silicon Valley will benefit being that SF is the center of the state for this activity; 6) The ever-present segment of the population who would prefer to live in the bay area because of its many positives (weather, jobs, quality of life, percentage of educated people, schools, and so forth).

You may want to move here and get settled before the boom returns.

Last edited by LexusNexus; 12-07-2007 at 05:58 PM..
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Old 12-08-2007, 04:09 PM
 
Location: Virginia
239 posts, read 938,693 times
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Quote:
Originally Posted by RomanInSF View Post
You could always cut your losses and come back now. I suspect that prices here will shoot up again when 1) Bush is no longer in office dragging the country down; 2) Less money is used to fight his bogus wars; 3) More money is put into high-technology concerns here at home meaning that Silicon Valley will benefit; 4) The continuing influx of highly-intelligent, highly skilled people looking to move to the bay area; 5) After Bush leaves, a renewed interest in stem-cell research funding of which San Francisco and Silicon Valley will benefit being that SF is the center of the state for this activity; 6) The ever-present segment of the population who would prefer to live in the bay area because of its many positives (weather, jobs, quality of life, percentage of educated people, schools, and so forth).

You may want to move here and get settled before the boom returns.
The prices of homes in Sanfrancisco never go down according to me. If it goes down just upto 2% or 3% and it will pull back.
If somebody wants to move back to Sanfrancisco, they can move if
1 - they want to rent a home and live there
2 - they want to buy a home and they get salary > 90000 and both husband and wife are working or one person woks and gets salary > 120000 with stock options and buy a used townhome
3 - not married and lives with roommates and gets salary > 60000.

Otherwise moving to SFO is not a good idea based on the real estate prices.
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Old 12-08-2007, 06:11 PM
 
15,638 posts, read 26,249,738 times
Reputation: 30932
Quote:
Originally Posted by darkblue View Post
The prices of homes in Sanfrancisco never go down ccording to me. If it goes down just upto 2% or 3% and it will pull back.
If somebody wants to move back to Sanfrancisco, they can move if
1 - they want to rent a home and live there
2 - they want to buy a home and they get salary > 90000 and both husband and wife are working or one person woks and gets salary > 120000 with stock options and buy a used townhome
3 - not married and lives with roommates and gets salary > 60000.

Otherwise moving to SFO is not a good idea based on the real estate prices.
A used townhome? It's not like you're buying a 1962 Corvair...

But in many ways I do agree with you -- in San Francisco proper I don't think the prices will go down much at all. Now -- come to Oakland, and watch.... we're not at the bottom yet. Housing around my zip has lost over 20% of value... but it's not cheap by standards in other states...
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Old 12-08-2007, 07:36 PM
 
Location: San Jose, CA
7,688 posts, read 29,148,496 times
Reputation: 3631
San Francisco real estate is just sickening. $639K for an Eichler in Visitacion Valley? Par for the course. $850K for a house on 19th Avenue right in the middle of gridlock so intense you can't even leave your house? A steal! $1.4 million for a three-bedroom condo in parking-brake-killing Corona Heights? Precious.
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