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Sticker shock much?!

Discussion in 'The Roaming Zone' started by ZaphodB, Apr 25, 2004.

  1. ZaphodB

    ZaphodB Signal Go Down De Hole...
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    This house is ten blocks from my house, which we bought three months ago. Ours is 150 sqft smaller but has more of a yard, and they have a pool whereas we have a hot tub. We're talking about VAN ----ING NUYS here, the Abandoned Shopping Cart Capital of the World. For that price you go live BH-adjacent...

    Either they're out of their ----ing minds, or it's time to sell already.
     
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  2. ILUVSOCAL

    ILUVSOCAL Banned
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    It just comes up as a blank page for me Zaphod.
     
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  3. ShoresGuy

    ShoresGuy Euer WA Experte in Europa
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    Works for me, Mike, try this page:

    Try this link

    That's crazy, up in my hometown Redwood City/Redwood Shores (yeah famous for the Scott Peterson trial getting started there, if I was back home right now, no doubt they would have pulled me for jury duty, seems like they can't get a good jury pool in all of San Mateo County just to conduct this trial.......end of off-topic ramble) housing prices are around $1 million for a simple 4 bedroom, 3 bath house. Main factor for such high prices is the fact that Oracle and Electronics Arts are headquartered just a short distance away.

    My parents' house in Redwood City/Redwood Shores is 34 years old but cost around $470,000 in 1993 when they bought it and now its value has almost doubled so prices are incredibly over the top in the area. It's a 2-story, 6 bedroom/3 bath house and if a house with that much space were to cost $600-800,000, it could still make some reasonable sense.

    Points in fact:

    Link 1

    Link 2
     
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  4. ILUVSOCAL

    ILUVSOCAL Banned
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    That worked, thanks Shores! Man, that is insane Zaphod!! Things are getting pretty bad up here too, when my parents bought our current house, it cost around 220,000 in 1996, now it's worth close to 400,000!, it's a 3 bedroom, 2 bath place, with a good sized front and back yard, an average house, though it is landscaped in front and has drip irrigation, along with several Oak trees, 3 or 4 differnt kinds, and some are very big and old. Many homes out here in Redwood Valley are going for 400-500K, and there are some million dollar estates around now too, crazy. Housing up here is going through the roof, mainly because of Bay Area refugees flocking up here to escape the Bay Area's really high prices, and in doing so, drive up real estate prices. Rents in the Brooktrails area of Willits are between 1100 and 1500, and sometimes more!! My sister and her family just put their place up for sale in Laytonville for 500,000, it has 40 acres, all flat, with a creek bordering the property, I know to you Bay Area peeps that sounds cheap, but to us up here, it's very expensive. They are going to move over to Lake County (a lot due to Harwood, the lumber company her husband works for, is cutting hours big time, and no more over time, so time to look for a new job and place, they can't afford their current place anymore), they are going to be able to get a similar place on the lake and still come out with money. Very few people up here can afford those prices, there aren't a lot of jobs that pay enough, it's really sad to see so many shut out of the housing market. There are still several affordable places left in CA though, it seems most are in the Central Valley, parts of Lake and Mendo County, Susanville and NE CA, a few areas of So Cal (ie.Inland Empire) and in the Redding, Chico, Marysville, Yuba City and Red Bluff areas, I kind of like those areas too, I hope they don't get out of hand!
     
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  5. SNSE

    SNSE Senior Member
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    When I was in the Denver area, they had a development start in Longmont, which is 20 miles north. At the beginning, the sign said "Homes from the $150's". One year later, the sign said "Homes from the $300's".
     
  6. twopiece

    twopiece D'oh!!
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    My parents 2BR/2Bath in Manhattan was bought for 475K in 1997. Now they're pretty sure that they could get 750K or higher for it. The people next door to them, almost same layout, are renting for $4200/month.

    Any type of real estate seems like a good investment.
     
  7. ILUVSOCAL

    ILUVSOCAL Banned
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    Yeah, Denver is pretty pricey now too, a lot of the west's big cities are, though the east is bad if not worse, I guess that's the price of being a popular place to live in. If you really want to see high, check out Aspen in CO, the average price of homes there is around a million bucks! A lot of stars have homes there. Jackson, WY is another expensive place to live in, in fact, many who work there have to live in nearby Victor and Driggs, Idaho and commute to Jackson every day, I couldn't imagine doing that, the Teton Pass is like Donner in the winter, crazy! West Yellowstone, at the park's west entrance is still pretty down to earth, lots of nice gift shops, and one has a whole section where everything is a dollar! It's the Yellowstone for the average folk [​IMG] All us kids bought our souveneirs there, seems like place like that are become rare, sad.
     
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  8. ILUVSOCAL

    ILUVSOCAL Banned
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    Yeah, it is, it's just so sad that many young people are being shut out forever from the American Dream.
     
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  9. twopiece

    twopiece D'oh!!
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    I know what you mean. At this rate I can afford a studio for around 300K in manhattan that's the size of a Maytag washer/dryer box. At least one can say that it's THEIR box.
     
  10. Shizam76

    Shizam76 Shizam! Babyyyyy!
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    How do people afford that stuff? I know when I go to buy a house, it will be (hopefully) around 130,000 or so. I really don't get these people....not just in Cali, but here even that have 150-200,000 dollar houses, 2 car payments, insurance, house bills (gas, lights, phone), house maintenance (new a/c, water heaters, lawnmowers, etc), living money, food, kids, kids expenses including clothes, shoes, school fees....etc? I can't even begin to imagine.

    And that SHACK that was pictured above from Zaphod, that house around here would go for 120-135,000. Whoever will pay 800,000 for it is crazy [​IMG]
     
  11. Gamer03

    Gamer03 Technology Aficionado
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    $750,000 for that house???

    Are they kidding??? [​IMG]

    I am guessing it is that much becuase it is the Valley!! [​IMG]

    BTW, how many square ft. is that house?

    In my city, before you build your house, you have to pay somewhere between $20,000-30,000 in impact fees for the local roads?

    Our house that we bought back in 1994 (the lot) and the house that we built on it wasn't too expensive back then (forgot how much it cost).

    Our neighbor's bought their house about 2 years ago for $600,000, and their pool is a little smaller than ours, and IMO, their view isn't as nice. [​IMG]

    According to some neighborhoods prices around ours, <u>we could get $750,000 for our house right now</u>, when comparing it to the going rate with the neighborhoods around our neighborhood.
     
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  12. xikle

    xikle For rent: inquire below
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    I seen plots of land go for 1 million before. That was just the land no house. That was in southwest Colorado, Durango area.
     
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  13. Gamer03

    Gamer03 Technology Aficionado
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    That is also ridiculous, unless you have money to burn. [​IMG][​IMG]
     
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  14. xikle

    xikle For rent: inquire below
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    Yep. The Durango area is one of the fastest growing places in Colorado. Rent for a 1 bedroom, 1 bath apartment is around $720 or up, no utilities. That's one of the reasons I moved. I lived in that area for about 15 years before I moved. There is some really nice scenery, but it's just too expensive to live there. Too many NIMBYs also.
     
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  15. ILUVSOCAL

    ILUVSOCAL Banned
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    It's sad that some people can afford so much house they don't know what to do with it all, and some that can't even afford a closet to call home [​IMG] Something's skewed in America, and it ain't the shish ke bobs.
     
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  16. Gamer03

    Gamer03 Technology Aficionado
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    That is true and sad. [​IMG]

    Eventually, I hope the economy will get better. [​IMG][​IMG]
     
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  17. twopiece

    twopiece D'oh!!
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    I remember Durango... went skiing with a bunch of friends at Purgatory in 97. Small, quaint, very friendly town. Everybody said "howdy" to us on the street.
     
  18. Gamer03

    Gamer03 Technology Aficionado
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    Cool. They sound friendly and nice. [​IMG]

    People don't do that in Chicago or for that matter in my own city, except they do in my neighborhood, most of the time. [​IMG]
     
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  19. xikle

    xikle For rent: inquire below
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    It's a nice place to visit but, I don't want to live there again. If you want small drive 20 miles east of Durango, then your in Bayfield (population 1500 people). Most people that live there are either from Texas or California. It has nice mountain views, a train to ride, and skiing in the winter, but after you've lived there awhile it starts to get old. I still like to go visit there sometimes for the views of the mountains. [​IMG]
     
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  20. budney

    budney Resident Headbanger
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    That Van Nuys house is over priced slightly, but not by much. Home prices in SoCal are through the roof. Even here in Bullhead City the rents are about twice as high as they were 3 to 4 years ago. Back in 2001 you could find a decent 1 bedroom apartment for about $275-$325 a month, now you are looking at $500-$550 a month. Even the house my mom & her boyfriend that isn't built yet has already appreciated $10K in about 6 months. [​IMG]
     
  21. ZaphodB

    ZaphodB Signal Go Down De Hole...
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    I might be inclined to agree, budney, if it weren't for the fact that we just bought a similar house for $390K (opened escrow in late November). The people from whom we bought the house had bought it in January of 2002 for $237K. I think it's unlikely in the extreme that that home (which is 2500 sqft) will sell at $800K.

    I think what's happening is people are finally starting to realise that while yes, you can buy a nice brand-new tract home in Castaic Lake or Lancaster or Temecula or Victorville or Oxnard, the commute to LA is going to kill you. We're ten minutes' commute from the big studio lots in Burbank, fifteen from Hollywood, and if you like you can park at the Red Line (two minutes' drive or ten minutes' walk) and take a 25-minute train ride downtown rather than mouldering on the freeway for an hour. We're also five minutes from the 'fancy' part of the Valley -- Sherman Oaks, Studio City and Encino.

    People are starting to think, "I could buy a house for $350K and have an hour-and-a-half each way commute, or I could spend $450K and have a ten minute commute."
     
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  22. Airb330

    Airb330 Silver Senior Member
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    For real. Damn, I feel poor after reading some of these threads.
     
  23. ZaphodB

    ZaphodB Signal Go Down De Hole...
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    Hey, I don't live in a shack dammit!


    Let's put it together:

    (This is all made up but with a basis in reality.)

    Mortgage payment, assuming 20% down: $3735
    Property taxes (1.25% annually): $ 830
    Insurance incl. earthquake: $ 170
    Electricity (remember the pool): $ 300
    Water and sewer (sprinklers!): $ 100
    Gas (hot water, heat and cooking): $ 25
    Cable television w/HBO: $ 80
    Telephone: $ 30
    Cell phone: $ 70
    Internet access: $ 35
    Car payment (new Honda) $ 250
    Car payment (older Lexus) $ 350
    Car insurance: $ 200

    TOTAL: $6175

    Now remember, this doesn't include food, clothing, or maintenance on the house.

    Just to be approved for the home loan (rule of 28/33*) you'd have to be making $200K a year. Insane.



    * the rule of 28/33 means that no more than 28% of your gross income can be spent on PITI (principal, interest, taxes and insurance), and no more than 33% of your gross income can be spent on PITI plus monthly debt (credit cards, car payments, etc.).
     
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  24. ILUVSOCAL

    ILUVSOCAL Banned
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    That's how much you pay every month? OUCH, you must make a pretty good chunk of dough. Oh, to me, anything over 60K a year or so is a good chunk [​IMG] By the way, I applaud your use of the rail and subways in So Cal [​IMG]
     
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  25. IowaUser

    IowaUser Junior Member
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    Those are some inflated prices. Come to the midwest (not Chicago) and you can double the size of your house with that cash. [​IMG] You can even say "Hey" to your neighbor. Sorry SoCal, no mountains and no sunny beaches out here. [​IMG]

    With the economy turning around, the house prices will only go up. When more people have more money prices go up (that's inflation in a nutshell). That was SoCal's point about Bay area residents driving up the prices around his neck of the woods. The nice thing about these low interest rates is that the monthly payments are half of what they were in the mid-80s, allowing people to buy larger houses for their families.
     
  26. ILUVSOCAL

    ILUVSOCAL Banned
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    You can say hi to your neighbor too, California's has as many friendly places as any midwestern town! Come up to where I live, very down to earth and friendly. Not only that, a lot more variety in climates (we have everything from the snowiest place in the US to the hotest place in the US) [​IMG] I'm sure the midwest is cheap, people aren't flocking to move there, it's hot and muggy in the summer, cold, snowy and windy in the winter, in fact, there was a story about some town in Kansas that is is literally giving away lots for free to anybody that will move there and develop it they are so desperate to get people to come and to stay, the midwest is a AWESOME place to watch trains and chase storms and tornadoes, but I woudn't want to live there, just too darn flat [​IMG]
     
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  27. xikle

    xikle For rent: inquire below
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    Colorado will become the same way. We are in the middle of a drought. There also isn't a end in site, yet. I think in a few years the market will be flooded with people trying to sell their houses. Then after a few more years, the cost of housing will go back up and it will become more like southern California pricing. Makes me glad I rent right now. The summers are nice, and the winters bring snow for skiers.
     
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  28. IowaUser

    IowaUser Junior Member
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    You never know, SoCal. If you climb the corporate ladder at UP, you could end up working at the new UP headquarters building in Omaha. Then you could chase some tornados. [​IMG] I would try to chase tornados, but my wife won't let me. [​IMG]

    There is an interesting land feature around here called the Loess Hills in western Iowa. But for the most part, areas away from river valleys in the midwest are flat. Did you know that Kansas is flatter than a pancake? Link. [​IMG] Our tax dollars at work! Interesting study though.
     
  29. agentHibby

    agentHibby Iowa Cellular Guru
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    Many people say Iowa is flat [​IMG] its hilly not flat!
    Kansas flat takes Iowa flat to the next level
    Here is a Des Moines Flat

    Iowa user what bigger city is Loess Hills located nearby?
     
  30. ILUVSOCAL

    ILUVSOCAL Banned
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    I have been through Iowa on Amtrak, it's flat lol They may call those lumps of dirt hills, but it's still flat to me [​IMG]
     
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