It is... somewhat mind-boggling. Of course, you can also rent studio apartments for $1800/month and up here if location and views are what you want - and apparently, that comes out fairly close in costs for the first 5 years.
But...yeesh!!
P.S.: To be fair, I was wrong about sleeping on the couch. When I took a second look, there is in fact a sleeping alcove in the studio for sale above, so you can have your bed - and seating too. But I'm still not convinced there's room for a big-screen TV.
*mops up morning cup of tea after spitting it all over the table while laughing*
Gosh, that's a tough call. Decaying shack, or that gorgeous 3 bedroom I saw yesterday. Two very different houses, same price. If only I had a $900,000 on hand so I could choose!
Truthfully, it can't. The $880 house cited above was listed in October at $975 (and would have been $1.2M a year ago). Houses at $500K are down from $550-600 as well.
One of the realtors I saw yesterday advised waiting another 6-9 months to buy because "it's still going down". (I liked her. I took her card, in case I do want to buy later in the year.)
But San Francisco is an area full of rich people and a strong tourist industry - so prices went higher and are dropping later than the rest of the country. It's only recently started to be a market where decent inventory (or even "raze and rebuild" sites like Parsla's) sit for weeks or sell below list.
It'll come down further. The questions are "how far," and "when." I'd love to buy that 3br house, but I have a feeling something like that will still be out of my range in a year... and if I'm wrong, it's probably a VERY bad sign for the rest of the city.
This is how The Week magazine posts several million dollar houses in the real estate listings each week, and one house - usually $300-$500K - in a "Steal of the Week" category, I think.
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360 /thousand/ dollars for a one-room apartment??
Man, what.
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But...yeesh!!
P.S.: To be fair, I was wrong about sleeping on the couch. When I took a second look, there is in fact a sleeping alcove in the studio for sale above, so you can have your bed - and seating too. But I'm still not convinced there's room for a big-screen TV.
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(Maybe room for the TV, but not for you!)
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*mops up morning cup of tea after spitting it all over the table while laughing*
Gosh, that's a tough call. Decaying shack, or that gorgeous 3 bedroom I saw yesterday. Two very different houses, same price. If only I had a $900,000 on hand so I could choose!
Reply
(The comment has been removed)
One of the realtors I saw yesterday advised waiting another 6-9 months to buy because "it's still going down". (I liked her. I took her card, in case I do want to buy later in the year.)
But San Francisco is an area full of rich people and a strong tourist industry - so prices went higher and are dropping later than the rest of the country. It's only recently started to be a market where decent inventory (or even "raze and rebuild" sites like Parsla's) sit for weeks or sell below list.
It'll come down further. The questions are "how far," and "when." I'd love to buy that 3br house, but I have a feeling something like that will still be out of my range in a year... and if I'm wrong, it's probably a VERY bad sign for the rest of the city.
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