Comments on: What does a 4 bedroom house cost?

By: steve

steve — Mon, 12 Oct 2009 19:08:50 +0000

Elsie, I’m a big proponent of the limited supply theory, so your post intrgued me. however, I just did a search of available houses and found different numbers than you report.

Greenwich is a little like PA + Atherton, so I excluded all houses over 5000 sq ft in both cities. To further account for housing stock differences I set the min size at 2000 sq ft, and I only looked at 4+ bedrooms. The results:

Greenwich
83 listings
700K – 2.8M

Palo Alto
43 listings
1.3M – 5M

By: Elsie

Elsie — Mon, 12 Oct 2009 17:58:27 +0000

I think these comparisons are pretty bogus.

Have you looked at Greenwich vs. Palo Alto?

I went to homes.com to see how many homes were for sale as well as what was nearby. Both cities have 60K population. I’ve lived in the Bay Area for 25+ years (Palo Alto for 16 of those years) but not Greenwich – so I don’t know the area but it has to be as SPECIAL as the RBA.

Here’s what I found: there are 500 homes/townhomes for sale in JUST Greenwich – not even inlcuding the other smaller towns nearby! Guess how many in Palo Alto – ONLY 60!! AND I found that there are apparently an additional 140 with pre-foreclosure notices in Palo Alto.

I really do NOT get it. If you want to live within 5 miles of Greenwich (because it’s such a SPECIAL place) you can find affordable housing. But try finding affordable, available housing 5 miles from Palo Alto – Los Altos, Atherton, Menlo Park and even Mountain View – GOOD LUCK!

And what about the houses you get for the money – not $1 mill for a crappy Eichler that’s in “mint” condition (meaning never had work done) on a 6000 sq ft lot (if lucky) but rather $1 mill for a 4+ bedroom house on 1/2+ acre lots.

Palo Alto has like 4 4-bedroom houses even on the market at one given time – so it’s not even an equitable comparison.

By: anon

anon — Mon, 12 Oct 2009 17:45:43 +0000

Not wally beav’s house, bob. Stinky the crackfiend’s house.

By: bob

bob — Mon, 12 Oct 2009 14:00:08 +0000

I visited Greenwich one time. The difference between here and there is that Greenwich is a true millionaire’s row type city with HUGE mansions, Ferrari dealerships, and so on versus most of the RBA which is basically a 60′s suburb turned expensive with millionaires paying a million bucks for Wally Beav’s house.

By: Herve Estater

Herve Estater — Mon, 12 Oct 2009 05:15:00 +0000

> Most people would be happy to live in a 1100 square foot 3/2.

Most people are not middle-management type.

By: San Jose Craig

San Jose Craig — Sun, 11 Oct 2009 20:55:28 +0000

A 4 bedroom home is a precious commodity here. Most people would be happy to live in a 1100 square foot 3/2.

By: TONY FAIRFAX

TONY FAIRFAX — Sun, 11 Oct 2009 18:52:06 +0000

way to go burbed…. Great find! Oh swhit im still priced out of the market. Oh well, Dallas TX here I come… BUT ONLY IF DEBRA MADENA GETS ELECTED
“On Saturday, Medina said she would focus her campaign on several issues, including the need to protect the borders and stop illegal immigration, eliminate property taxes”
http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/091309dntexmedina.172de2fe5.html

By: UnrealAlex

UnrealAlex — Sun, 11 Oct 2009 17:32:04 +0000

It also means the time to buy is NOW because RE always goes up!