Pass some to me
Every December …no matter what what the market is doing …there are deals. I regret at-least 2 last decembers and both times we were on vacation when i got that phone call. We were on vacation mood and we passed …I’m almost thinking to not take vacation this December. There would be deals.
Edit three decembers actually
Buy when there is mud in the streets
now there’s a house i really loved in mtv. not putting here, clearly
You already did. Is easy to go through all the for sale houses. Not that many for sale
Let’s see who can guess. I’m thinking brookdale or view st. If I had to pick one it would be view st (tried to buy a triplex further down closer to caltrain back in the day). Brookdale has better schools but afaik potato doesn’t have kids.
I dont have kids, but i look for schools usually in anticipation of having one.
My criteria is usually 7500+ sqft.
So brookdale is checking the box on lot size and schools…
Brookdale would be my preferred location in Mountain View if I wanted a big lot. In fact, I made my very first bid on a house on Brookdale many years ago. If this is lot value at 2.5, there are better options if you are optimizing equity.
2.3 is my guess. A larger lot sold for 2.5 iirc.
I think you get more value by buying a house like Golden Way or Jordan in Los Altos. I’m assuming both of those are close to ask. Wait you like colonials… There’s a fairly symmetrical colonial type house on Hamilton in PA coming soon. I’m guessing it’ll be in the 4.5-5 range.
The mtv one if it sells at listing has a relatively good construction potential.
I wont pay 4m for sure.
At 2.2 + retail cost of construction you will have some equity, but it’s not as much as you would like to see with the amount of effort required. The issue is that Mountain View just in the last year or so really broke into the 3+ price range. Of course there was that property on Pilgrim that broke 4.5. I think that will stay an outlier for awhile. Once you get to 4 you can buy a spec build like Golden Way or Jordan.
Remember https://www.redfin.com/CA/Menlo-Park/1180-Cloud-Ave-94025/home/1542549? It closed at 4.35 which is a quite a drop from their original price, but that is expensive for the size.
I think it’s pretty challenging at the moment to find a lot that you can buy, build on right away and generate equity. Assuming ~$350/sqft for construction, whoever built Golden is losing money at $4M when you consider transaction costs and cost of capital.
Brookdale looks pretty livable at the moment. Keep the other 2M in the stock market and either build or trade up when you’re ready and need the space.
Didn’t we see news saying tariffs make building much more expensive now? Exactly how much more expensive this year compared to last?
Sold for 3.6 for a smaller lot, and next to school.
The location for the other hosue is better, but i believe they go to same school.
Not saying i would not have equity or not, but paying 3M for an OK house, vs 2.2+1M or so on a brand new house, is no brainer from my pov, plus you’d get 300-400 or so equity.