Why is this ridiculous when houses like this one in Sunnyvale, which are smaller both in built area and lot size are also selling for ~ $3M?
because Danville hasn’t typically sold for the same $/ft as that area - not even close…
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It has a pretty big lot. That and the nice finishes make it an anomaly and those tend to go irrationally high.
True. As I said have a long term view and execute without worrying about short term or market corrections.
There plenty of renters renting in those areas at prices. $7k for a SFH in Los Altos is a steal. I know renters trying to find anything for $9k but can’t.
@REInv Assume you have enough capital to cover for 5 years of negative cash-flow (say 8K a month for 5M property PITI), with an average 3% YoY appreciation in these five years, you would have still made it is positive based on average appreciation (even with negative cash flow) if you wanted to get out. If you can handle a longer time-frame, it is even better.
That lot is only a little larger than most in that area - and the road is somewhat busy as it leads to the elementary school and a large park nearby that attracts a lot of visitors.
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Renting will always be cheaper than buying in a premier metro like Bay Area, because of the potential for further appreciation, which is higher in the Bay Area than, say, cities in the Mid west or South
It is impossible for an area to have higher appreciation rate forever than another area. Due to compounding if this persists then Bay Area will be infinitely more expensive that every other place. Given that Bay Area is already far more expensive, the higher appreciation argument of Bay Area is bogus TBH.
For last 2 years most of the other areas rose faster than Bay Area. In long term I do not think Bay Area RE prices will grow any faster than US average.
Yeah wasn’t delaying to try to time the market, but just waiting on some updates on my wifes job etc… to decide where exactly we will try to buy.
I am not worried about appreciation - I already sold enough stock for 50% of house value and sold OTM puts that will earn more than any house appreciation this year.
That being said, I expect there to be an initial price surge this spring because of future rising interest rates, but then things to go flat once interest rates have risen and people’s tanked investment accounts cut back what they can afford. That will probably show up in 3 -4 months.
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.
Turned over an unit in San Leandro.
Went from $1900 to only $2000. A relative bargain for 2bed/1 bath nowadays.
Rented to a Family friend.
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what can you buy for $677,850? like, literally nothing in Dublin…
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Dublin is nice place. You can still get Some stuff in Hayward/SL for 600s but even that is rare now. Some of the bigger houses near me is going high 800s and 900s. It’s crazy. We are near the all fast food chains and low end retail… It’s not that nice.
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brentwood, oakley, antioch still has some homes around that price range
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My good friend lives Brentwood. It’s nice. Someone I know is buying a new build in Oakley. I think it’s almost finished.
If you don’t have to commute to Core Bay Area, the area is pretty good. Good access to nature and the delta is right there if like boating.
( I also own a rental in Pittsburg in an okay area. 
My only 1 in CoCo county. )