SF Real Estate Out of Control

[Just Jack]

$798,000 near me....

 

http://www.realtor.com/realestateandhomes-detail/6912-Shalimar-Way_Dewitt_NY_13066_M47370-20827?row=2

 

(there were a few McMansions, I picked the one that was not similar)

[ExiledInIllinois]

$798,000 near me....

 

http://www.realtor.com/realestateandhomes-detail/6912-Shalimar-Way_Dewitt_NY_13066_M47370-20827?row=2

 

(there were a few McMansions, I picked the one that was not similar)

 

Just have Chef shoot some HD footage of his view and you are all set! Hang & make the 82" LCD screen look like a window and you are in business.

 

Oh... I am all for fireplace LCD's too... Less mess than real wood, and cheaper than gas logs... ;-)

[plenzmd1]

Wonder if this place made in through ?

 

Did not look like it could hold up in a 6.0

[Chef Jim]

Wonder if this place made in through ?

 

Did not look like it could hold up in a 6.0

 

Not sure about over in the city but not much of a shaker here. We're 40 miles from the epicenter so it woke us up but went right back to sleep. Was surprised to hear it was a 6.1 when I got up and looked at the news.

[BuffaloBill]

 

 

Not sure about over in the city but not much of a shaker here. We're 40 miles from the epicenter so it woke us up but went right back to sleep. Was surprised to hear it was a 6.1 when I got up and looked at the news.

 

When I was in a 6.2 in LA it more than woke us up epicenter was near Palm Springs. In the end no big deal but a few moments of "hope this building was well constructed."

[RuntheDamnBall]

Amazing how land outside of a desert currently plagued by drought can be so valuable. I doubt it has anything to do with the fact that the same area is home to the leader of a major political party or wealthy contributors to political parties

If you can adjust the tuning on your HAM radio (maybe slide the tinfoil hat a bit to the left) you might notice that there's a ton of money in Silicon Valley by virtue of the productivity that happens there, a lot of foreign investment coming from the likes of China and Korea, and a frickin' beautiful area that is highly desirable. Not to mention low interest rates. But no, I'm pretty sure it's pure lefty politics keeping the property values high.

[ExiledInIllinois]

If you can adjust the tuning on your HAM radio (maybe slide the tinfoil hat a bit to the left) you might notice that there's a ton of money in Silicon Valley by virtue of the productivity that happens there, a lot of foreign investment coming from the likes of China and Korea, and a frickin' beautiful area that is highly desirable. Not to mention low interest rates. But no, I'm pretty sure it's pure lefty politics keeping the property values high.

 

Ooops, leftist policy & hypocrisy is trying to keep those values high:

 

http://www.breitbart.com/Breitbart-California/2014/08/21/Water-Double-Standard-Hurts-Farmers-Benefits-Pelosi-s-Region-Faces-Lawsuit

 

In the end, water will be the most thing... We will see how this eventually plays out. Pray for rain if you plan on moving.

 

"...A lawsuit recently filed in federal court by Fresno group CESAR challenges water diversions from the Hetch Hetchy Reservoir to Bay area residents. Bay area businesses and citizens have long benefitted from an environmental regulation exception that provides the area with particularly fresh and abundant water. This is a benefit not enjoyed by many less politically influential areas, including farmers in the San Joaquin Valley..."

 

 

 

Edited August 24, 2014 by ExiledInIllinois

[RuntheDamnBall]

Ooops, leftist policy & hypocrisy is trying to keep those values high:

 

http://www.breitbart...n-Faces-Lawsuit

 

In the end, water will be the most thing... We will see how this eventually plays out. Pray for rain if you plan on moving.

 

"...A lawsuit recently filed in federal court by Fresno group CESAR challenges water diversions from the Hetch Hetchy Reservoir to Bay area residents. Bay area businesses and citizens have long benefitted from an environmental regulation exception that provides the area with particularly fresh and abundant water. This is a benefit not enjoyed by many less politically influential areas, including farmers in the San Joaquin Valley..."

Posting a Breitbart link to prove something is about as valid as posting an MSNBC link to prove something. Save it for PPP. Notice that a lot of Silicon Valley power-brokers, whose politics can't be (and aren't) identified in the piece are aligning with those who support the water diversions. Anyway, I'm not going to discount this as a factor, but to cite it as the predominant one and to characterize it as a pure left/right issue, as opposed to one rooted in power, is silly at best.

[ExiledInIllinois]

 

Posting a Breitbart link to prove something is about as valid as posting an MSNBC link to prove something. Save it for PPP. Notice that a lot of Silicon Valley power-brokers, whose politics can't be (and aren't) identified in the piece are aligning with those who support the water diversions. Anyway, I'm not going to discount this as a factor, but to cite it as the predominant one and to characterize it as a pure left/right issue, as opposed to one rooted in power, is silly at best.

 

I will still stand by it as the predominant one FOR the Bay area. Other places similar, like LA, wouldn't 1/2 exist as they are if it weren't for the places like the Owens Valley... SF Hetch Hetchy & other rezs... Chicago Lake Michigan. The sweetheart deal that SF and the Bay Area receive is the predominant reason for growth in the area. I didn't think I was characterizing this as a pure left/right issue... Just pointing out the hypocrisy from the point of the left that's in conflict with their environmental agenda.

 

I understoodand that this should be saved for PPP. I know, I cringed seeing Breitbart... But I read it. It was pretty straightforward article about a law suit. Shouldn't the pain be spread around equally? That's what the left's rallying cry is...

[RuntheDamnBall]

I will still stand by it as the predominant one FOR the Bay area. Other places similar, like LA, wouldn't 1/2 exist as they are if it weren't for the places like the Owens Valley... SF Hetch Hetchy & other rezs... Chicago Lake Michigan. The sweetheart deal that SF and the Bay Area receive is the predominant reason for growth in the area. I didn't think I was characterizing this as a pure left/right issue... Just pointing out the hypocrisy from the point of the left that's in conflict with their environmental agenda.

I didn't argue that you were. I was discussing the post to which I responded.

 

You won't find me arguing that things aren't artificially inflated, systems gamed. I'm not an owner yet, I stand to benefit from none of it, and in order to benefit as an owner, I have to half-pray for the demise of the bubble, which is in a sense cutting off one's nose to spite one's face because that will entirely affect the job market.

 

I think we should all be ultra-concerned about the level to which tax-dodging foreign investors snap up luxury digs and real estate in our major cities as well -- and typically don't dwell there or actually put any money back into the community, the infrastructure, etc.

[Chef Jim]

And so are the rental prices.

 

http://blog.sfgate.com/ontheblock/2014/09/04/despite-tight-market-these-san-francisco-rents-will-still-surprise-you/

 

This was where the loft was where we lived for 2 plus years. We started at $2700 then went to $2800 then they went to $3700 and we bailed. I heard they're getting $4500 for it.

 

http://www.zillow.com/homedetails/630-8th-St-APT-10-San-Francisco-CA-94103/2118466061_zpid/

[Fan in San Diego]

And so are the rental prices.

 

http://blog.sfgate.c...l-surprise-you/

 

This was where the loft was where we lived for 2 plus years. We started at $2700 then went to $2800 then they went to $3700 and we bailed. I heard they're getting $4500 for it.

 

http://www.zillow.co...118466061_zpid/

 

You forgot to take your cats with you.

[Kevbeau]

And so are the rental prices.

 

http://blog.sfgate.c...l-surprise-you/

 

This was where the loft was where we lived for 2 plus years. We started at $2700 then went to $2800 then they went to $3700 and we bailed. I heard they're getting $4500 for it.

 

http://www.zillow.co...118466061_zpid/

Don't know how folks out there do it. You're looking at 2 bills worth of income to make financial sense at that price. Not completely ridiculous for a dual income HH, but at what point do you run out of possible renters (guessing upper 10% of wage earners, probably higher in Norcal), or are people just strapping themselves?

[Chef Jim]

You forgot to take your cats with you.

 

Ours was a different floor plan. Our master suite was on the middle floor not a loft on the top floor. I couldn't imagine an open loft type bedroom right about your kitchen.

 

Don't know how folks out there do it. You're looking at 2 bills worth of income to make financial sense at that price. Not completely ridiculous for a dual income HH, but at what point do you run out of possible renters (guessing upper 10% of wage earners, probably higher in Norcal), or are people just strapping themselves?

 

They are pushing decent wage earners right out of the city which is a bad thing. When the new tech bubble bursts it's going to be a ghost town. But lifers say "ah, that's SF. We've been booming and busing since 1849". Good for you. We'll watch it from afar.

 

There are some very high dual incomes in the city so they do ok but there are also those trying to live the SF techie dream that are really living beyond their means. "Sure I'm broke, but I have a 415 area code"

[ExiledInIllinois]

Take a look @ the area from say Google Earth, satellite mode.... It is like ants on a hill squeezing out every available space. I get the impression that's the issue, why the market is highly priced. That is, it gets past a commuting threshold the further out one goes to seek those "open spaces." In other words it is all about geography, as beautiful as it is... Limited... Like somebody said previously: "Location, Location, LOCATION!" This lends itself to the rat race you see on satellite views... Houses appear to be stacked onto themselves with everybody competing for acceptable geography. Take that "usuable" surface area and it has to be small compared to other places that are more sprawled out like a pool table?

 

 

There is a reason why the pioneers spilled into the open spaces of The West:

 

"...There's no way to divide the beauty of the sky

From the wild western plains

Where a man could drift, in legendary myth by roaming over spaces

 

The land was free and the price was right..."

 

 

It is what it is I guess... Where else are you going to... Hours from the prime location... Probably tons of micro-climates too with all the orograpghy that is happening there.