Any buyers/investors of East Palo Alto?


#41

What a horrible address :scream:


#42

How many epa do you own?


#43

None, the distance is the issue not the type or pricing. Come on, I am crying about having to manage my Fremont home (yes farther but not by much) these days.

With high valuations in general, it makes total sense that if you want a decent deal it will be in locals such as this or fixers. Not every investor can afford 1.5M for a SFH that even if rented more than likely will be cash flow negative unless you put in a fair amount of down payment like I did with the 1031 exchange. Pickings are slim, but here we see someone willing to spend about a 1mil for an EPA fixer. Sure, maybe he/she can get by with spending 100K or less but that’s where the gamble is, right? The thing to learn from this is simply that the market is obviously not dead yet. This sold. Maybe not higher than some folks expected but it had warts.


#44

EPA will take a long time to pick up. Pretty bad place. High investment risk.


#45

Prices are up five fold since 2009


#46

Again, when I drove through there recently on IKEA runs, the area didn’t seem bad at all (granted during the day, and perhaps not the worst parts near IKEA). Everyone has their tolerance levels. It is not for everyone but let’s be honest the lower the buy-in the higher the potential gain. That hasn’t changed…


#47

I was there many times. I has changed a lot in the last 20 years. And especially in the last 10. Gentrification is well underway


#48

The pace is real slow then. Despite the location. Some other fundamentals are restricting the growth. And they look to be real as the results are showing.

Near IKEA is university sq neighborhood which is the only good neighborhood in the whole EPA. But its too small to add anything to EPA.


#49

Prices at the courthouse in 2009 were $100k to $150k
Huge boom. Facebook impact?


#50

Yup. Definitely fb.


#51

And an Indian buyer…lol :slight_smile:


#52

Wait, you???


#53

Nah not me. Better fish to fry


#54

Are you still living in your Fremont house? I am thinking that Fremont might be calling us instead of San Bruno down the road. I can still catch BART and the housing cost is lower for us.


#55

I mentioned earlier: couple of years ago grandson was killed in front of his grandmother’s house (almost feont porch) in this house

Before sale was closed - this hose was on Craigslist for $5.200/m (or so)

Agent involved in transaction is famouse amonth “investors” in EPA and was sued couple of times


#56

Indian agent made you guess Indian buyer? Never saw an Indian living in EPA


#57

How was it in Oakland in 2009.


#58

I know Oakland had tons of foreclosures. But also lots of buyers. Prices are up


#59

Which one would you have bet on in 2010?


#60

I have been betting on Oakland since 1978. But in 2010 EPA was a better bet.