Housing Prices in California? Hold your hat! |
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Today I opened up a Homes and Land magazine to see what the prices are along the peninsula. Wow, was a mistake. As an owner of a condo in the MetroWest area, I could get a 1000 sq. ft place for a mortgage and HOA payment of $1800. My fiance owned her own 1200 sq. ft. place around Fitchburg for $1100. Those are servicable prices to pay for home ownership.
Back to the Homes and Land magazine... I note one home at 716 West Capistano Way that's 2 bed/1.5 bath, 1650 sq. ft. The price is a tiny $1,125,000. So after putting $200K down, payments are only $6,000 a month.
I know, maybe I can downsize a bit. A couple of pages away there's another gem. This one is 3 beds/2 bath and even has a 2 car garage. It's 1220 sq. ft, so about the size of my fiance's 180K appraised condo. It's listed as a "great fixer upper, ideal for contractor or buyers who are looking to fix or flip." I wish I could show you the picture of this place. I have to believe that someone is inside holding it up, because it looks like it could fall at any minute.
What could 600K get us in Framingham or Marlborough? It would get you a new construction 3000+ sq. ft 4 bed/2.5 bath palace. It's a good thing I don't plan on buying here. It would take me years to amass enough for a down payment.
This post deals with: ... and focuses on:Real Estate, Relocation
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