🚀 go-pugleaf

I rent in Mountain View and am thankful I have comparativly low rent. I've been
looking at two things, Townhomes here in MtView or a single family home in the
Santa Theresa area of  South San Jose.

This is my recent experience in MtView

3 WEEKS AGO, west of middlefield between moffet and whisman:

2 bedroom 1-1/2 bath, 2 car garage townhome, nice-looking,  list price =
365,000.00 + hoa (home owners associarion fee's)
3 bedroom 2 bath, 2 car garage townhome (same complex as above) immaculate
inside, list price = 500,000.00 + hoa

LAST WEEKEND, west of middlefield between moffet and whisman (different complex
than above)

2 bedroom 1-1/2 bath 1 car garage, nice-looking, list price = 415,000.00 + hoa

LAST WEEKEND, east of middlefield between moffet and whisman:

3 bedroom, 2 bath, 1 car garage, townhome, nice-looking, list price = 525,000.00
+ hoa


This is my recent experience in Santa Theresa area, South San Jose. (This is a
nice area, and the commute isn't bad to MtView)

3 WEEKS AGO, off Santa Theresa blvd, at vineyard:

4 bedroom 2 bath 2car garage, single family HOME, with nice front and back yard
etc-etc,  list = 349,000.00
-- multiple offer on this proerty, I'm guessing it probably went for 355 to
380,000.00

LAST WEEKEND, east of Monterey blvd, west of Bayshore, nice area.

3 bedroom, 2 bath, large 2car garage, large kitchen, 5 fruit trees, Jacuzzi
etc-etc, list price = 359,000.00
-- multiple offer on this proerty, I'm guessing it'll probably go for 365 -
380,000.00

SUMMARY:

I've worked for .Com companies in Mountain View, and I find it hard to bite on
the high-ticket home prices here.  I'll probably go down to Santa Theresa and
get a quality home.  Funny thing is, I practically live accross the street from
where VERITAS (company I work for) is moving their campus.

Perhaps I should keep renting here, in a year I can walk to work, invest my
money in other areas, get the heck out of this place in 5 years.  Hmmmm.

Regards,

-jrj






keethieDRAT@keethie.net wrote:

> In article <B4FC1B3F.17EDA%no-spam@netninny.org>, John Higdon
> <no-spam@netninny.org> wrote:
>
> >Fortunately, there are still some young folks who apparently want to buy a
> >house badly enough to plan, save, and research the market. It comes down to
> >a matter of priorities. Anyone who just thinks it "would be nice" to own a
> >home might as well forget it. It takes sacrifice, work, and a lot of
> >prioritizing.
>
> A dotcom IPO stock option doesn't hurt, either.
>
> I don't recall the original poster whining about his "right" to own a home
> as characterized by DK and others in this thread.
>
> Home prices in the Bay Area are priced far outside of the range of most
> buyers who would otherwise be considered middle class in most other parts
> of the country; even REAs agree with this. I know people who are working 3
> jobs, well over 75 hours a week, saving as much as they can (I'm currently
> fixing up an old computer for one of them so he can have Internet access).
> When they think they have enough for a down payment (most without the
> benefit of wealthy parents), they find the bar has been raised...again.
> This has been been going on for at least a decade now. These folks are no
> longer young. For some a thirty-year mortgage payoff is well beyond
> retirement age.
>
> Does anyone have a reference figure on what the average family needs
> (right *now*, both in terms of a down payment and income necessary to meet
> a mortgage payment) for a modest or average home in the greater bay area?
> Let's compare that with what they needed 6 months ago. Then 1 year. Then 5
> years.
>
> Even cheap, broken-down, rat-infested condos are subject to jaw-dropping
> bidding wars. It isn't real estate, it's surreal estate (thanks, Utne
> Reader). The original poster was right. The Bay Area SUCKS as a place for
> buying a _home_, although it is great for property as an investment (at
> least until it strangles itself with all the rope it's got).
>
> --
> "Lord, help me be the person my dog thinks I am"
>
> Remove DRAT in reply to that