I know SF is expensive but why do some try to get away? (San Francisco: houses, neighborhood)

[Need_affordable_home]

http://homepics.realtor.com/image2/http/sanfrancisco/listings/large/019/316590.jpg (broken link)


Sorry but this 1250 square feet "house" I found in SF arent worth nearly 1.1m! Does anyone see something special about this house? Someone buying in SF can get 1833 square feet given the average $600 a square foot and the house would not only be bigger but nicer as well!

The above is just an example of how some people dont know how to properly price houses. The error is found everywhere, but this example really stands out how little house you get for more than a million in hard earned money!

[gizmo980]

Let me put it simply... in the Bay Area/SF, it's ALL about location. I'm not sure where that house is (and we actually do consider that a house, lol), but if it's anywhere decent, that's an average price. If it were in Nob Hill with a view of the bridge/water, you'd be looking at minimum $2.5 million for the same sized place. Seems ridiculous, and I guess it really is, but that's just how things are here. If you can't or won't spend $1M on a small house, you have the options of a bad or out-of-the-way neighborhood. I'm in the former right now, and our houses go for around $400K-700K. Still not cheap by any stretch of the imagination, but "affordable" for this area.

This also goes back to the old "supply and demand", since we just don't have any room to expand the city... San Francisco and the Peninsula are surrounded by water, so what's there is pretty much all we can handle. Therefore, if a hundred people are all looking at 2 houses, of course they'll raise the price as much as possible! And there will ALWAYS be someone willing to pay, believe it or not. Anyway, it is crazy, but seems normal to me after 20+ years...

P.S. I got off your original question a bit, but that does look like a crappy house. I'm really curious as to the neighborhood... it doesn't appear to be in one of the higher-end locations, so that might in fact be overpriced. Either that, or it has a real backyard, which jacks up prices in this city. It's also a "detached home", unlike the more common row-houses, which might be another factor.

[Need_affordable_home]

Thnaks for your comments and Private Messages! Ill go ahead and give you positive reputation Ive searched SF and this isnt the only insane price, one guy wanted $5.5m for .05 acres, this comes out to $110m an acre! Most expensive land ive ever seen! I see plenty of million dollar lots in the .05 to .2 acre range. I know why land is so expensive but some prices are a bit excessive! Is SF the most expensive land in the USA

[q6 Deedrit]

They dont call it the People's Republic of California for nothing. Have you seen the amount of Asians in San Francisco? A demographer recently stated that the only population to show growth the past 2 years in California was the Asian population. All the others are trending down and moving to Texas, Oregon, Arizona, Washington. However, this is not a new phenomenon, the same thing has been going on for over a hundred years. Right now though you can see that countries like China are burying us economically. This must be directly related to the huge Asian boom of the last decades. I heard that our trade deficit with the Asian countries is in the Trillions of dollars. They must be using some of those dollars to buy up property here.

[Need_affordable_home]

Let them buy in SF, soon itll be only Asians as us whites relocate to where we can actually get a decent house at an affordable price. That 1.1m small house in SF would get me a mansion over 10k square feet elsewhere!

[Zelia]

Pictures can be deceiving, and that's clearly the case here--clearly, clearly, clearly.

I'm impressed with the magnificent Marc Chegall stained glass windows. The windows are a treasure and easily rival the windows found in Beverly Hills' estates. No doubt the imported Italian marble floors are impressive and grand. No doubt, detailed, hand-painted frescoes adorn every wall. What's not visible in this photo is the olympic-size swimming pool, and the two-acre English garden.

Seriously, the Golden State is becoming less golden with each passing year. Currently, more people are moving out-of-state than the reverse. I think only about 17% of families with a median income can afford to buy an average house. We're just talking average here--say $500,000 depending on the locality.

San Francisco is viewed as a gay mecca and a liberal paradise, so homes will always be expensive. Tolerance, a gay mecca, and progressive thinking adds a little premium to the price of a house.

This same house in Kansas might fetch $100,000. That's probably being overly generous.

Z

[Need_affordable_home]

LOL is that sarcasm? If there was something special, the seller should have shown it in the pictures!

I am not supprised Florida, CA, NYC and other expensive city-states are losing population, especially the middle class

I can get that SF house in Oil city for about $35k!

[gizmo980]

Originally Posted by Need_affordable_home

LOL is that sarcasm? If there was something special, the seller should have shown it in the pictures!

I am not supprised Florida, CA, NYC and other expensive city-states are losing population, especially the middle class

I can get that SF house in Oil city for about $35k!

Maybe, but there's a BIG difference between Oil City and San Francisco. I agree the housing costs are crazy, but you are getting a lot for the money... aside from the house itself, you get everything a great city like San Francisco has to offer. As I said above, location, location, location!!

[Need_affordable_home]

I know, I was addressing my point to Zelia. He mentioned the same house for $100k in Kansas so I added that Kansas would be expensive compared to Oil city

[MoMark]

Originally Posted by Need_affordable_home

http://homepics.realtor.com/image2/http/sanfrancisco/listings/large/019/316590.jpg (broken link)


Sorry but this 1250 square feet "house" I found in SF arent worth nearly 1.1m! Does anyone see something special about this house? Someone buying in SF can get 1833 square feet given the average $600 a square foot and the house would not only be bigger but nicer as well!

The above is just an example of how some people dont know how to properly price houses. The error is found everywhere, but this example really stands out how little house you get for more than a million in hard earned money!

Well, it must be in a desirable area of San Francisco I agree prices are insane, but they're in a price decline now too, just like most everywhere else. Would you believe Need_Affordable_House that I almost bought a house near the Cow Palace (can't remember the name of the neighborhood...I'm forgetting my SF geography with the passing of the years and it used to be I knew SF like the back of my hand!) in San Francisco for $175,000 in early 1998? I seriously thought about it, but then decided I didn't like the neighborhood and bought in Pittsburg, CA. across the bay instead. Had I held onto that house and then sold before the crunch hit this past year, I'd have probably after capital gains taxes cleared around a 1/2 million $ Who knew!
I must admit, at times I do miss San Francisco. It's the only major city that's manageable for walkers and though the MUNI system can drive you crazy with it's delays and breakdowns, it's still easy to move around without a car...and..I could really use a street vendor's dark roasted black coffee right now..