Comments on: $800 a month in rent, or $800k to own! http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/ San Francisco Bay Area, Silicon Valley House Price and Mortgage Insanity Blog Wed, 08 Feb 2012 21:46:46 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Great INVESTMENT in Downtown San Jose, If Downtown Means 26th St | Burbed.com http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34820 Great INVESTMENT in Downtown San Jose, If Downtown Means 26th St | Burbed.com Wed, 20 Oct 2010 12:11:37 +0000 http://www.burbed.com/?p=3618#comment-34820 [...] summer, burbed reader sonarrat sent in this listing for a house in “Central San Jose.”  Some of you were a little disparaging of the wishing [...] [...] summer, burbed reader sonarrat sent in this listing for a house in “Central San Jose.”  Some of you were a little disparaging of the wishing [...]

]]> By: caterpillar http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34819 caterpillar Thu, 25 Jun 2009 06:22:07 +0000 http://www.burbed.com/?p=3618#comment-34819 >You know what? It’s an indication of how tight the rental market is right now. If people are willing to pay $800 a month for this, is it any wonder why this property is so expensive? Of course not. In fact, demand is so high that I understand that local governments are having to step in! http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/24/BAUH18CIJG.DTL >You know what? It’s an indication of how tight the rental market is right now. If people are willing to pay $800 a month for this, is it any wonder why this property is so expensive?

Of course not. In fact, demand is so high that I understand that local governments are having to step in!

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/06/24/BAUH18CIJG.DTL

]]> By: Pralay http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34818 Pralay Wed, 24 Jun 2009 01:15:37 +0000 http://www.burbed.com/?p=3618#comment-34818 <i>Looks like the lot is about 50′ x 400′ deep.</i> ------- That's why it says "endless possibilities". You can start your first railroad project here. Looks like the lot is about 50′ x 400′ deep.
——-

That’s why it says “endless possibilities”. You can start your first railroad project here.

]]> By: sonarrat http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34817 sonarrat Tue, 23 Jun 2009 21:08:27 +0000 http://www.burbed.com/?p=3618#comment-34817 Oh I see what the deal is - there are three houses on the lot. But if the one pictured is the nice one, uh... well, any one of them would sell separately for about $175K in that neighborhood. Do the math. Oh I see what the deal is – there are three houses on the lot. But if the one pictured is the nice one, uh… well, any one of them would sell separately for about $175K in that neighborhood. Do the math.

]]> By: zanon http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34816 zanon Tue, 23 Jun 2009 19:58:38 +0000 http://www.burbed.com/?p=3618#comment-34816 btw. Los Banos translates to "the bathrooms". If you've ever been there you will appreciate the truth in advertising. btw. Los Banos translates to “the bathrooms”. If you’ve ever been there you will appreciate the truth in advertising.

]]> By: sfbubblebuyer http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34815 sfbubblebuyer Tue, 23 Jun 2009 19:58:23 +0000 http://www.burbed.com/?p=3618#comment-34815 I think they just accidentally added a zero to the price. At 80k, it might be worth buying. If you want to add in the 'bay area premium' of 1.5, you'd get about 140k max. I think they just accidentally added a zero to the price. At 80k, it might be worth buying. If you want to add in the ‘bay area premium’ of 1.5, you’d get about 140k max.

]]> By: zanon http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34814 zanon Tue, 23 Jun 2009 19:57:01 +0000 http://www.burbed.com/?p=3618#comment-34814 Ouch indeed! $1M is still holding strong though, I think. Where will the prestige index fall to? 2000? That keeps the internet boom, but reverses all the bubble history. That also means that $3M homes (which were *really nice*) are just $2M. What will happen to $2M homes (which are still very nice)? And our beloved $1M crap shacks? Ouch indeed! $1M is still holding strong though, I think.

Where will the prestige index fall to? 2000? That keeps the internet boom, but reverses all the bubble history. That also means that $3M homes (which were *really nice*) are just $2M. What will happen to $2M homes (which are still very nice)? And our beloved $1M crap shacks?

]]> By: anon http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34813 anon Tue, 23 Jun 2009 19:55:22 +0000 http://www.burbed.com/?p=3618#comment-34813 Price to rent ratio: 1093.75 But, as we all know, its important not to look at the numbers but rather "go with your gut." Price to rent ratio:

1093.75

But, as we all know, its important not to look at the numbers but rather “go with your gut.”

]]> By: UnrealAlex http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34812 UnrealAlex Tue, 23 Jun 2009 19:44:03 +0000 http://www.burbed.com/?p=3618#comment-34812 That's near: The stadium! gay bars! The real ghetto! Leathermasters! Diridon Station! A really old funky OSH! That’s near:

The stadium!
gay bars!
The real ghetto!
Leathermasters!
Diridon Station!
A really old funky OSH!

]]> By: A. Lewis http://www.burbed.com/2009/06/23/800-a-month-in-rent-or-800k-to-own/#comment-34811 A. Lewis Tue, 23 Jun 2009 19:08:06 +0000 http://www.burbed.com/?p=3618#comment-34811 You may recall I am keeping running tabs on the Case-Shiller prices for S-F, and thanks to another burbed reader I found the Prestige index <a href="http://www.firstrepublic.com/lend/residential/prestigeindex/sanfrancisco.html" rel="nofollow">here</a>, which effectively gives a 4th, highest tier to the data, which might be something like the RBA, or perhaps the best of the MRBA (homes priced over $1M). Well, they finally updated the prestige index with a 1Q09 data point, and it's a doozy! Prices on homes over $1M took a huge drop from 4Q08, and have now dropped to 1Q05 levels. Ouch! You may recall I am keeping running tabs on the Case-Shiller prices for S-F, and thanks to another burbed reader I found the Prestige index here, which effectively gives a 4th, highest tier to the data, which might be something like the RBA, or perhaps the best of the MRBA (homes priced over $1M).

Well, they finally updated the prestige index with a 1Q09 data point, and it’s a doozy! Prices on homes over $1M took a huge drop from 4Q08, and have now dropped to 1Q05 levels. Ouch!

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