What do you see happening to prices of homes in the 225K and under range? (Oakland: foreclosure, loans) - San Francisco - Oakland - California (CA) - Page 2 - City-Data Forum

coolbay · 03-09-2009, 04:24 PM

I always think and put the numbers in the worst case. If you calculate on Purchasing home under $225K with enough cash to survive for atleast a year without a job will give you some idea. Loan on $225k with 5.5% rate will give you monthly mortgage around $1400 (plus tax and insurance) which is better compared to renting. Even buying a condo at a very low rate (compare to paying rent or single fly. house price ) will be worth if you have enough cash to live.

It's hard to predict how long it will take for the market to come up but what I feel is the worst part has reached and market will rise slowly.

bayarea-girl · 03-09-2009, 08:47 PM

Everyone, the OP expressed interest to live in Vallejo. Just saw another post by the OP on the SF thread asking about what people thought about Vallejo.

nmnita · 03-10-2009, 07:57 AM

Quote:

Originally Posted by bayarea-girl

Everyone, the OP expressed interest to live in Vallejo. Just saw another post by the OP on the SF thread asking about what people thought about Vallejo.

thanks, that might make a difference as well. Vallejo isn't as expensive as the the bay area. Or what I consider the bay area, I guess Vallejo is really part of it.

Nita

bayarea-girl · 03-10-2009, 09:46 PM

The OP shouldn't have a problem finding something for under her price range for at least a year to come. Vallejo won't be rebounding any time soon.

MaxineABCTeam · 04-09-2009, 10:03 AM

Guess I need to disclose that I'm an active real estate broker and run a small independent company in Pleasant Hill. My staff and I cover Contra Costa and Alameda Counties, and often refer clients to other professionals in Solano and other Counties. With interest rates at 50-year lows (5% or less) and the current low prices, it is the best "climate" for buyers I've experienced in more than 10 years. Recent market activity indicates that we may have hit the "bottom" - but of course we won't really recognize the bottom until prices start to rise, unless you have a working crystal ball!

BayAreaHillbilly · 04-09-2009, 02:55 PM

Nothing for $225K here in terms of detached homes (here = San Mateo County). There are a few fixers in EPA for about $250K. Most of the lower end homes I see coming up are in the $350 - 500K range, and most of them are in Daly City, SSF, San Bruno, Pacifica. Other than that, you're talking a condo, or, the East Bay.

Michael Tryn · 04-09-2009, 08:04 PM

I thought I heard some of the bad things about S.F. . Someone posted contrary to common belief all of the men are not gay,and I think Hunter's Point is not a decent place to move to. We all knew the prices would crash in S.F.. I ask, WHY would anyone want to live in Cal. with all of the negative surrounding Cal. . except for the weather? It is not any better here ! In Illinois 10% sales tax , the car license is $70 , and the foolish new Gov. is talking about raising the state income tax. We DO have water, that is getting cut off south of Stockton. The story said 90k Mex. will head south of the border. Will some one give me more things to consider about moving to S.F. please. We are conservative with high morals as we have a daughter. I find it disgusting for men to be holding hands around me. Lesbianism is o.k. by me. As long as they are nice looking. I AM judgemental. I don't approve of pedaphiles or drugs. I may be too strange for S.f. , I know little about the area , and have no use for the East Bay. Oakland looked like Haiti on CNN when that man got shot recently . I will look at the demo for Oakland but I think they are not as good as Montana for example. I'm not Clint Eastwood. Feedback on S.F. for family life.

bayarea-girl · 04-11-2009, 01:07 AM

MaxineABCTeam, one doesn't need a crystal ball to determine what will happen with the market, just common sense. Homes were going up way too fast at the markets peak and everyone knew it was a bubble and that at some point it would burst. Now things need to come down because prices were/are unrealistic, cost of living at least in CA is still too high, banks aren't lending, and people are loosing their jobs and can't afford the house notes especially as they are readjusting. So no crystal ball needed just the basic concepts of logic.

Michael Tryn, are you joking? If you have the attitude and or have negative feelings about a place before you move, why are you entertaining a move to a place you won't like?

michaelsa · 04-11-2009, 02:20 AM

Marin County--prices have fallen below their $1.2 million average home price, which is just lovely, but they seem almost indestructible no matter how severe the downturn gets. I've heard that banks are holding on to huge numbers of foreclosed homes because they don't want to go to the trouble of cleaning them up and listing them, so all of the inventory is going to waste. Does anyone foresee an influx of foreclosed, cheaper homes in Marin County, or is Marin the last, unpoppable bubble in this world? Are residents still going to be laughing in their mansions to the very end, drinking wheat-grass cocktails while the rest of the Bay Area fills up with foreclosure signs?

clongirl · 04-11-2009, 09:59 AM

Quote:

Originally Posted by Michael Tryn

I thought I heard some of the bad things about S.F. . Someone posted contrary to common belief all of the men are not gay,and I think Hunter's Point is not a decent place to move to. We all knew the prices would crash in S.F.. I ask, WHY would anyone want to live in Cal. with all of the negative surrounding Cal. . except for the weather? It is not any better here ! In Illinois 10% sales tax , the car license is $70 , and the foolish new Gov. is talking about raising the state income tax. We DO have water, that is getting cut off south of Stockton. The story said 90k Mex. will head south of the border. Will some one give me more things to consider about moving to S.F. please. We are conservative with high morals as we have a daughter. I find it disgusting for men to be holding hands around me. Lesbianism is o.k. by me. As long as they are nice looking. I AM judgemental. I don't approve of pedaphiles or drugs. I may be too strange for S.f. , I know little about the area , and have no use for the East Bay. Oakland looked like Haiti on CNN when that man got shot recently . I will look at the demo for Oakland but I think they are not as good as Montana for example. I'm not Clint Eastwood. Feedback on S.F. for family life.

Uh, what's your point? Why do you keep insulting the area we live in, spewing false homophobic, ignorant misinformation then tell us you want to move here..Don't move here.. stay away! There's some helpful advice for you.