Google effect: House in downtown San Jose transit village boundary doubles in price

A just-completed transaction appears to be the first instance of someone buying a downtown San Jose site after Google’s development endeavors near the Diridon train station came to light — and then selling that property to Google at an impressive return. Google’s purchase of the residence, completed this week, nearly tripled the value of the house.

Where were you guys?

The biggest insult is that the guy is not even local! A neighbor of @Elt1 from the frigging Tahoe area.

Hm, so someone not local profited huge from investing in local RE.

Just scanned the article superficially, but is this is repeatable business case? i.e. is this just one those cases where one gets lucky and then (the media) peddles it as skill?

@manch should see the light now. No need to be local to benefit.

Not repeatable. For whatever reason, Google decided in 2019 it needs that extra place so buy the adjacent house, somehow it didn’t think it needs the extra house in 2017-8. This type of luck happened to a guy in North Caroline when Apple paid through its nose to acquire a lone house that is within the planned data center.

The joke is on Calvin Suva and Pradeep Musugu who think living next to a construction site is no good.

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Rayngay, the seller, lives in Eldorado Hills, 1.5 hours drive from Tahoe. Eldorado Hills is a wealthy Sacramento suburb with lots BA expats. It also has a lot of tech executives. It is the largest city in Eldorado county but is unincorporated. You can get a mansion there for for the price of average BA shack. Still have great weather and a short drive to Tahoe, Napa or the BA.

Here you go Manch. A contemporary in nextdoor Folsom. With views all the way to the BA.

For the price of a tear down in Palo Alto you can get a 9000 SF Mansion in Granite Bay just on the other side of Folsom Lake. This I my kind of architecture. With amazing landscaping. Don’t know anyone who needs 9000 SF

@manch is thinking of a shack.

That shack in PA will double in price in 10 years. Granite Bay? Not so much.

I think the future is bright for Sacramento and it’s wealthy suburbs. There are plenty of nice homes in the Sacramento MSA for $500k and up that easily double in value in the next ten years. The 9000 SF house is a white elephant, but for someone that wants to retire with BA money it is a sweet deal, and if you plan to die there, appreciation is not important. For me I would rather live in luxury in my golden years than fight the BA rat race. If PA prices double again, it means more traffic and lower quality of life for the whole BA.

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@manch live in luxury means living in a shack of a neighborhood that have good Cantonese restaurants.

Folsom has a large Asian population. Plenty of good Asian restaurants. Fats is near that modern house on the hill. The best Asian market in Northern California in is in nearby Rancho Cordova.

This is my favorite Folsom Restaurant

Folsom is not bad, but that modern house just looks tacky.

Besides, thou shalt not buy the most expensive house on the block.

My wife complains about the heat in San Jose. I can’t even get her to move to Pleasanton. Folsom is even more out of reach… :cry:

Move to Wisconsin then.

Nice and cool in Tahoe. Never more than 85 in summer. You can get a house in Folsom for $500k that is nicer than any Sunset shacks. With the money saved you can spend your summers anywhere you want. $500k will buy a decent Tahoe house.
Sell your SF shack for $1.5m. Buy two houses
and have $500k mad money to travel every summer for life. Personally I like warm summer nights, especially if there is pool.

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Tahoe feels too far away from civilization for me. If it were completely up to me, I’d buy a house up in the Berkeley hills. Perfect weather, great view, not far from good food and civilization, and near a world class university with a small college town feel.

Let me know when your old house on Euclid ever comes out for sale again.

Berkeley hills have the best views in the BA and relatively cheap prices thanks to progressives destroying property values. High crime for such a beautiful place. This house is what Berkeley is all about. Built in 1936. Mediterranean classic. Fantastic views.way better than my parents Euclid house. I love that they kept the original bathrooms and kitchen. They built quality to last in 1936. Downslope on a bus route easy access to UCB but far enough away from the crazies. I went Cragmont school a few blocks away. This house was on my paper route. The views alone are worth $500k. The in-law unit could bring in $1500/m, would pay the property taxes

Meanwhile this house near my farm is only 20 minutes from Folsom. Country living with Chinese takeout 10 minutes away. We have 2 sushi restaurants 2 Thai and 3 Chinese 10 min from my farm.