Is that something to brag about? Seems to me that being the number1 most expensive area is what will ultimately lead to the industrial downfall of the Bay Area.

What about her mega-project…..in San Fernando Valley?

TLC often airs re-runs of the show. Very interesting and often highly entertaining as you see people who don’t know diddly squat about flipping buy some truly awful properties (more than likely with a zero-down ARM), do a half-ass job in renovations, and then expect to sell it right away. The first season (2005) pretty much everyone made a profit (including some really idiotic flippers) however in seasons 2 and 3 as the market began its downturn, the profits were fewer and farther between. Great show!

http://finance.yahoo.com/real-estate/article/107917/where-americans-pay-most-to-live

High monthly costs in places like San Francisco ($1,660) and Washington, D.C. ($1,706) don’t necessarily make owning and renting terribly expensive for area residents — median household incomes in many of these places are similarly high, $76,848 in San Francisco, for example.

Several years ago, I had a real estate client, Roger, who purchased her first condo in Santa Barbara for $200,000, 110 percent of which was borrowed. Because she had no money whatsoever, she even had to borrow the cash to cover her closing costs. [...] While she was living there, Roger made some minor cosmetic changes to her condo – replaced linoleum with tile, painted, and changed some light fixtures and hardware. Two years later, she sold it for $298,000, a healthy profit in any market. She dropped $325,000 on her next condo, made similar improvement, [...] and sold it 18 months later for $435,000. With the equity she had acquired, Roger partnered with her sister and bought a house for $950,000, completely overhauled it , and sold it 16 months later for $1,175,000.

Now let’s see if Roger can do that in any market, like today’s…