silicon valley rental market
It’s search engine result Thursday.
Recently, someone found this site by searching for: silicon valley rental market
Now, while this site traditionally focuses on buying and selling homes, which is what good people do – there are definitely a few stragglers in the Bay Area who continue to rent. It’s a pity they haven’t seen the light yet.
With that in mind, let’s look at a typical Silicon Valley rental house to get a feel for the market:
2315 Cowper St Palo Alto, CA 94301 – Home for Rent : realestate.sfgate.com/
2315 Cowper St
Palo Alto, California, 94301$6,950 / 4 beds / 2 baths
Property Description
REMODELED QUINTESSENTIAL PALO ALTO HOME IN PREMIER OLD PALO ALTO NEIGHBORHOOD. CHARM WITH ARCHITECTURAL DETAIL ABOUNDS THROUGHOUT. 3BR/1.5BA ON GROUND FLR 1BR could be TV room/den. MASTER SUITE FEATURES SEPARATE STUDY, LOVELY BALCONY &STUNNING MASTER BATH. PAST HERITAGE 2005 RESTORATION AWARD WINNER.
Yeah. It’s pretty pricey. So you might as well go straight to buying.
According to Zillow, this house is worth $1.777 million. That’s just $7,486 per month according to the site. For just a few dollars more, a month, you can own this house, own its appreciation, and get the copious tax savings that come with it.
So forget renting. Start buying!
October 29th, 2009 at 9:09 am
The owners probably couldn’t sell it for “their price” (over $2M?) and decided to rent it instead.
October 29th, 2009 at 9:50 am
The owner refinanced it for $1.2M in 2005 (variable). He needs a renter before his rate resets.
October 29th, 2009 at 1:15 pm
Cowper’s too close to da EPA.
October 29th, 2009 at 1:44 pm
$7K for a 4 bed/2 bath? Very unlikely. Leon Leong says median adv rent for a 4+ is $5,200, and this is significantly over that and barely makes the 4+ boundary.
This will sit empty, like the others.
October 30th, 2009 at 12:49 am
>>Cowper’s too close to da EPA.
I guess somebody doesn’t know how to read a map.
October 30th, 2009 at 12:50 am
Wow, GDP up 3.5%. The recession is so over.
October 30th, 2009 at 1:20 pm
Wow. DOW down 251 points. Consumer spending down. Looks like a lot of the so-called growth was from government spending. The recession is so not over.
October 30th, 2009 at 1:43 pm
now bob, if you had a job, a pay increase and a bonus then the recession didn’t even matter. Remember who was posting.
For the rest of us, well, we aren’t quite as excited by the economic environment. Did you see that the Obama administration was claiming they created 650,000 jobs with the stimulus? Not sure what they based that on. Maybe 600,000 were for realtards, courtesy of the $8k tax credit?
October 30th, 2009 at 2:20 pm
Recession is over for wall street. The Obama/Goldman Sachs administration made sure they got theirs.
This will make it even harder for RBA to catch up to Manhattan! We should ditch greentech and social networking and just go into finance.
October 30th, 2009 at 2:24 pm
The electric golf cart business is booming right now. You can get one for just about free due to government stimulus:
http://online.wsj.com/article/SB10001424052748704107204574473724099542430.html
October 30th, 2009 at 2:34 pm
>>Wow. DOW down 251 points.
Dow got ahead of itself. That’s why I sold when Dow was over 10,000.
October 30th, 2009 at 2:34 pm
Get a free golf cart and a free house in Detroit (or some other hammered midwestern town). Wow, this administration just loves to give shit away.
October 30th, 2009 at 2:49 pm
I’m curious if you still get the tax credit if you bought a free house.
October 30th, 2009 at 4:46 pm
No, I thought the credit capped at 10% so you will get 10 cents – not too bad though. if you get all 300M americans join in this fraud, you can still make $30M.
October 30th, 2009 at 8:27 pm
“Wow, this administration just loves to give shit away.”
What else do you do with shit?