Lot split in Palo Alto, house was sitting on the market for over a month. They raised 1M in less than a week. We should have pooled in and made it happen ourselves!!
https://www.arondevelopers.com/offerings/wilkie-way-preferred-equity
@cloud did you take a look at this one?
Lot splits are time consuming and have a high chance of running in problems. I did a similar sub-division in Monte Sereno ( See below MND approved on my name ) and eventually bailing out of the project completely
https://cityofmontesereno.org/DocumentCenter/View/1777/Mitigated-Negative-Declaration?bidId=
The new owner’s who inherited all of my plans , ER. noise reports, landscaping plans etc Application was denied by almost all of the city jumping over zoom call ( die to corona virus ). The new owner’s attorney and city attorney are working towards a settlement. Tensions run high on sub-division projects with neighbours. Same thing happened on 831 Arroyo rd in Los
altos . Seeing all this and when there are many more easier ways to make money - I steer clear of subdivisons. @Elt1 who is way more experienced and I have the good fortune of meeting personally advises the same thing. City councils are too nimby and don’t care about your time and investment. There are many more easier ways to make money than sub-divisions.
Thanks for sharing your experience!
I remember ptiemann once told me it may take many years to get lot splits !
It amazes me how proud cities are about preventing lot splits and sub divisions and yet agonize over the homeless and the housing shortage. Cities are run by math challenged pandering hypocrites. I got murdered on a lot split in Danville. Lost my whole $350k investment. Contra Costa County also stole my island paradise in the Delta. I guess I am a little bitter. But local governments are truly evil. They lie, change the rules, move the goal posts and let anyone put a monkey wrench in your plans with no consequences.
In the Delta I faced 9 government agencies with different conflicting agendas. A Medusa who needs its head cut off. The most evil of all is Palo Alto
This seems to be a pattern nowadays, especially in relation to RE, rent and tax(especially in CA with all it’s props). Hard to plan long term in these situations.
Dropbox is saying otherwise. My husband also seems to be getting more done because he gets interrupted less. Still has a ton of meetings. That said, he’s looking forward to being back into the office just to get out of the house.
Just saw a flyer on FB. $7900/m for a 3/2 1500sf in Napa valley. Looks like a secondary home on a vineyard. Plus they want you to do the gardening. Takes $300k per year to afford that rent. How many people like that do their own gardening?
WOW?!? It’s on Woodside, but nice neighborhood, good schools. I’m shocked. $880K 2BR 3BA 1200 sq ft.
I hate paying $670 a month for HOA.
if it include water, recycle and outside insurance. its worth it.
You like Henry Ford?
Most friends with kids there like/d it. Even the ones who moved their kids to NorthStar later. Certainly walkable from that house.
According to Emily in Paris there is plenty of disgusting activity their too. I guess big cities in general attract disgusting activities. I have seen businessmen in suits pissing on sides of buildings in Paris.
We are lucky in Tahoe. The large poop in my driveway today was definitely from a bear.
“When I arrived as an au pair, I didn’t really speak the language and I found the city dirty,” she recalled. “It smelled like pee in the corners of the Metro.”
In common with the fictional Emily, Jackson first lived in a so-called “chambre de bonne” — tiny servants’ quarters at the top of a fifth-floor walk-up — and got breathless mounting the stairs.
She also had the misfortune to encounter a large fecal deposit — “possibly human,” she noted — on the doorstep of the building, near the Place de la République, in which she shares an apartment with a roommate.
This is something that Paris is working on. They apparently have a pee patrol that goes around fining people who do this now.
They have outdoor urinals now. I binge watched the the show. Pretty funny. Definitely shows the the differences between America and France. I love France, vive la difference
Wasn’t selling in April - June and then sold with the price of July over the asking:
https://www.zillow.com/homedetails/2972-Amoroso-Ct-Pleasanton-CA-94566/25085326_zpid/
Interesting to compare that one with from Fremont - Ardenwood: https://www.redfin.com/CA/Fremont/33120-Falcon-Dr-94555/home/1383640
In Austin2. Something happened that cause many people turn bullish from Jun. Now inventory of SFHs for sale and rental have dropped drastically.
People realized it’s not the end of the world. Stocks roared back from the March low put lots of $$ into people’s stock account.
Actually I am very curious if you see any performance delta between East Bay suburbs vs “West Bay”. One would think with more WFH days East Bay should outperform. Do you see anything on the ground supporting or refuting this thesis?