Potential Move to Santa Clara

[phantompilot]

Originally Posted by Perma Bear

I find that a little hard to believe

That seems about right to me.

[phantompilot]

Originally Posted by Perma Bear

I'd trade 4% rates for 200k houses at 10%.

Except the houses you're referring to probably weren't only 200K, but perhaps 300-450. And 10% would be a steal depending on what time period you're actually talking about. Mortgage rates were double digits from 1979 all the way into 1990.

[Moddedintegra56]

Originally Posted by phantompilot

Except the houses you're referring to probably weren't only 200K, but perhaps 300-450. And 10% would be a steal depending on what time period you're actually talking about. Mortgage rates were double digits from 1979 all the way into 1990.

just browsing through Willow Glen area and just pulled this home

https://www.zillow.com/homes/1029-RA...mHomePage=true

10/11/95 Sold $225,000

then this one also on same street

https://www.zillow.com/homes/1017-Ra...,-CA-95125_rb/

05/22/91 Sold $236,000

[jk88cal]

Well, I hope OP has gotten her bearings straight. And come down to earth on her expectations.

In my previous response, I googled and saw this "tear down" for $1.9M in Palo Alto. It has since sold $623k over asking for a cool $2.55M. And this is <1,000 sq ft home. It is very nice from the photos. But based on its size, I guess you could call it a shack.

http://sf.curbed.com/2017/4/26/15439...old-home-house

[Ruth4Truth]

Originally Posted by jk88cal

Well, I hope OP has gotten her bearings straight. And come down to earth on her expectations.

In my previous response, I googled and saw this "tear down" for $1.9M in Palo Alto. It has since sold $623k over asking for a cool $2.55M. And this is <1,000 sq ft home. It is very nice from the photos. But based on its size, I guess you could call it a shack.

http://sf.curbed.com/2017/4/26/15439...old-home-house

Yeah, I saw a tear-down, when we were discussing the OP's situation, that was like that, but it had a huge backyard; the lot was big enough for two houses. So that plays a role. A developer might be able to put a duplex or triplex on a lot like that, depending on zoning. There's a similar thing going on in Seattle's West Seattle neighborhood. Lots with views of the water, especially lots very near the water, are selling for similarly astronomical prices. People are buying them, and putting million-dollar, or multi-million $$ homes on them.

[Lanienguyen]

Bay Area home prices near all-time high, sales rose in March

"In San Mateo, a house that listed for $3,995,000 was gone “in four days with 12 offers for $5 million, which is more than $1 million over the asking price,” he said. “Is that crazy? But that’s the market right there.”

I don't know if there are lots of executives living in San Mateo or not?