Comments on: Housing Downturn? Not For This House

By: her every cent counts

her every cent counts — Tue, 26 Feb 2008 09:46:09 +0000

Since I live pretty much around the corner from Burlingame, a house like that would go for, well, that much. I’d like to buy a condo during the housing downturn, but as you pointed out… the housing downturn hasn’t really helped much in San Mateo county!

By: Frugalchick

Frugalchick — Mon, 25 Feb 2008 18:07:20 +0000

I live in NorCal and I’m pretty used to seeing homes with ridiculous prices but this one seems to be waayy over-priced. I bet this house will be in the market for awhile.

By: Jess in Bellingham, WA

Jess in Bellingham, WA — Thu, 07 Feb 2008 05:41:45 +0000

As is: $225,000. It would rent for around $900/month.

By: Jeff

Jeff — Wed, 06 Feb 2008 21:21:30 +0000

Um, $45k.

Flint, MI. And, more than one. Try the whole damn neighborhood.

http://www.zillow.com/HomeDetails.htm?zprop=73930193

By: beloml

beloml — Mon, 04 Feb 2008 17:11:08 +0000

There’s a hiliarous blog that makes fun of the high prices in California: burbed.com

By: JBM

JBM — Sat, 02 Feb 2008 16:17:22 +0000

Where I live: Montgomery, AL would go for $90,000.
But where I work: Troy, AL $50,00 if restored $80,000.

By: misha

misha — Fri, 01 Feb 2008 23:12:40 +0000

Holy cats! I recently sold a comparable house (but not a fixer) in an area of Colorado where housing prices are still rising for $165,000. It was a great return on my investment … and apparently a real steal for a buyer.

By: paidtwice

paidtwice — Fri, 01 Feb 2008 20:04:47 +0000

Here, in my part of the midwest, a fixer upper that size…. maybe $50K? I looked at 4 bedroom/3 bath fixers in my area for $75K when we were house hunting.

By: Foobarista

Foobarista — Thu, 31 Jan 2008 20:36:25 +0000

In Mountain View, probably about the same price. Real estate in the SF Bay Area tends to be higher the closer one is to the Bay, and Burlingame is an “inner ring” city that touches the Bay.

The traditional notion of “city” versus “suburb” isn’t helpful here since there are three “Big Cities” here: San Jose (the biggest city in the SF Bay Area in land area and population), Oakland (about the same size as SF), and SF itself. Also, like LA, there are dozens of smaller cities that have no discernible borders like Mountain View (where I live), Palo Alto, Burlingame, Daly City, Berkeley, Richmond, etc.

As for that house, in south San Jose, it probably would be in the mid $500s, and in the Central Valley, probably in the low $300s. It would probably be in the mid $500s in Oakland also.

By: Alex

Alex — Thu, 31 Jan 2008 18:46:28 +0000

NoVA / DC suburbs – about $450-500k inside the beltway. Less for further out…

By: David

David — Thu, 31 Jan 2008 17:56:41 +0000

Metro Boston area
250K to 300K in move in condition.
Subtract 25 to 50k depending on amount of fixing required.

By: Anitra

Anitra — Thu, 31 Jan 2008 15:46:18 +0000

In my neighborhood (about 40 miles from the center of Boston), a house like that would probably cost $150K or so, depending on the condition of the “fixer-upper”.

But if it was less than 15 miles outside of Boston… Probably around $300-400K then, maybe even more, depending on the neighborhood.

By: WealthBoy

WealthBoy — Thu, 31 Jan 2008 14:55:23 +0000

My question is, how realistic is the price for the listing? Just because it is listed at that price doesn’t mean it will sell (in a reasonable timeframe) for that price. In any case, I would venture to guess that a home like that might go for around $120k-$150k in my area.

By: Personal Finace Trainer

Personal Finace Trainer — Thu, 31 Jan 2008 13:50:46 +0000

Were I live, that might cost $60-70K. $800K will buy you a nice 3,000 sq ft house in town, a reasonable lake home, and leave probably $100K in your pocket. Or you could buy a nice house and a small apartment complex to rent out.

We considered moving to SF several years ago, but prices like this convinced us otherwise.

By: Danny Tsang

Danny Tsang — Thu, 31 Jan 2008 04:14:23 +0000

Wow. This is why I advocate renting in NorCal even though I’m a part time real estate agent. A commission is nice, but that burlingame house is RIDICULOUSLY overpriced and I wouldn’t recommend it to anyone. What justifies that kind of price per square foot? I have a relative in burlingame that loves to show off their $2Mil house, but all I see is money down the drain.

I lived in San Francisco all my life, and as much as I love the bay area, these prices don’t make sense at all. I would rent forever if I were to stay in the bay area. However, I decided to leave, which is why I’m getting on a plane to Texas in about 10 hours on a search for my new home. 2800sqft homes for $180K, brand new with a booming job market, now that makes sense.

By: moneyloveandchange

moneyloveandchange — Thu, 31 Jan 2008 00:52:48 +0000

This home is similar to ours, which we bought in 2004 for $140,000. We could reasonably expect to sell our house now for $160k-$165k (maybe more, but I rather err on the low side). We live just over MD/PA border about 40 miles north of Baltimore. Anything closer to the city or to a highway would cost a lot more. Also, renting a decent townhome/apartment in the suburbs would cost as much (or more) as our current mortgage.

By: Christina

Christina — Thu, 31 Jan 2008 00:10:45 +0000

That is ridiculous. I live in Phoenix, AZ and a house like that would probably be no more than $120,000….and that’s pushing it.

By: AVCr8teur

AVCr8teur — Wed, 30 Jan 2008 23:33:23 +0000

If you’re not opposed to buying a townhouse with HOA, you can get one for under $500K with a 2-car garage in the Bay Area . From what I heard on the news, the housing prices in the Bay Area went up by 4% even with the housing downturn.

By: Jay

Jay — Wed, 30 Jan 2008 23:23:20 +0000

Well, if the house is in the same area code as on the listing, then the $750k isn’t surprising! I live in the 510 area code and our 850sf, 2 (3 at a stretch) BR, 1 bath home would list for $490-550K! And yes it would sell for that even now. We paid $150k 19 years ago. As realtors say, “location, location, location”!

By: Mat B.

Mat B. — Wed, 30 Jan 2008 22:37:37 +0000

I live around Dallas, maybe 80k if your lucky..