Where Americans Pay Most To Live – Forbes.com
Where Americans Pay Most To Live

It happens every month: Millions of American pony up for the gas bill, mortgage or rent payment and real estate taxes–and subsequently watch their bank balances dwindle. That’s because housing expenses are the biggest monthly expense most families face.

But there’s a big difference between the size of your payments if you live in Seattle, Wash., than if you have put down roots in New York, N.Y. And if you live in California, you’re likely to be writing bigger checks than anywhere else in the country: More than half of the 20 most expensive cities for housing are in the Golden State, according to a report released last week by the U.S. Census Bureau.

San Jose commands the largest amount in housing costs of all metro areas we surveyed for this story. After you’ve shelled out for your monthly mortgage payments (or gross rent, if you’re a renter), not to mention utilities, taxes and insurance, you’ll be $1,828 poorer in this Silicon Valley hub.

Thanks to Burbed reader Herve for this find.

Congratulations to the Bay Area for being #1 and #5!

Finally our time has come. We’ve all dreamed of the day when we were #1 in housing costs, because that would mean we’re the most special and most desirable place to live. Finally it is here.

Without a doubt, this is the most authoritative study on housing costs ever. Do you know how I know? Let’s look at our mortal and semi-mortal enemies:

Booyah. We’ve all long known that New York City was just over hyped as being expensive, and now this study proves it: New York is actually dirt cheap. Heck! It’s cheaper than Rainattle!

This is a study we should be proud of. Great work everyone. Next year, let’s aim for the world!

It’s Saturday! That means that it is time for Burbed’s book of the week!

Amazon.com: The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be! (0639785388333): Gary Keller, Dave Jenks, Jay Papasan, Gary Keller, Dave Jenks, Jay Papasan: Books
The Millionaire Real Estate Agent: It’s Not About the Money…It’s About Being the Best You Can Be! (Paperback)
by Gary Keller
Jay Papasan (Contributor)

“Keller presents the million-dollar benchmark as a symbol of excellence, rather than a monument to materialism.” — Chris Leporni, Realtor Magazine

“The Millionaire Real Estate Agent is the step-by-step handbook for seeking excellence in your profession and your life.” — Mark Victor Hansen, Co-creator #1 New York Times best-selling series Chicken Soup for the Soul(R) and Co-author, The One Minute Millionaire

“This book presents a new paradigm for real estate and should be required reading for real estate professionals everywhere.” — Robert T. Kiyosaki, New York Times best-selling author of Rich Dad, Poor Dad –This text refers to an alternate Paperback edition.

Finally a book to shatter the myth that so many have about Real Estate agents. You see, being a real estate agent isn’t just about collecting 2-6% of every real estate transaction… whether it be a $200,000 condo or a starter $1,000,000 house in Mountain View.

No… it’s about the craft of selling real estate. Like Kendo, it is an art that one must perpetually strive for perfection. You have to keep making those transactions, over and over again, collecting $30,000 each for taking some photos and writing some text and driving some people around. It’s not about the money. It’s about being the best you can be.

Personally, I think they should start giving out belts to Real Estate agents. Can you imagine what it would be like working with a black gucci belt agent? It’d be like nirvana. With just two words the house would be instantly sold. Wow.

Regardless of whether you are in it for the money, or to help save the world, you can help this site out! Click this link to learn more!

When you become a millionaire at any age, you can help this site out ! Click this link to learn more!

Live in a Mansion Condo in Menlo Park! | SF Bay Area Home Price and Mortgage Insanity Blog – Burbed.com

SiO2 Says:
November 4th, 2009 at 7:34 am

Las Lomitas elem school foundation has a suggested donation of $1100 per child. AFAIK this is the highest among RBA schools. Most are around $700.

Hey everyone. Do you know of a higher suggested donation? Is $1100 the highest? That seems really low for the Bay Area. I mean, these are public schools – the annual fee shouldn’t be crazy like $30,000 like the private schools, but it should be higher.

Also, are these published anywhere?

Let’s get some more information!

436 HIGH St #405, Palo Alto, CA 94301 | MLS# 80941917
436 HIGH St #405 Palo Alto, CA 94301
Price: $899,000

Beds: 2
Baths: 2
Sq. Ft.: 955
$/Sq. Ft.: $941
Lot Size: 955 Sq. Ft.
Property Type: Condominium
Style: Contemporary
Stories: 4-8 (Mid Rise)
View: Neighborhood, City Lights
Year Built: 1984
Community: Downtown
County: Santa Clara
MLS#: 80941917
Source: MLSListings
Status: Active
On Redfin: 51 days
Be in the Heart of Downtown! Just steps from University Ave. , this stunning remodeled one-level top-floor corner Penthouse features a state-of-the-art gourmet kitchen, luxury finishes, balcony, fireplace, views, jacuzzi, high ceilings & more! Currently rented fully-furnished @ $5200/mo. Awesome rental investment or turnkey home. Enjoy total privacy & convenience. Extra separate storage.

Ring ring. Ring ring.

It’s the sound of this great money making opportunity calling entrepreneurs!

Sure the price per square foot may seem a bit steep… but look! $5200/month in revenue! WHOA!

According a Redfin calculator, with 20% down (easy for most people), the monthly mortgage amount for a 5/1 ARM would be just $3,280. Less a $444 HOA fee… and wow! That’s $17,712 in free cash flow a month.

$17,712!!

You’d have to be crazy to turn this down.

Now, all you financial types can run CAPem, Black-Souls, Monte Python calculations, and create some triangle graphs… but from the gut, I can tell that this is a sure-win investment.

Ring ring. Ring ring. Answer the call today. Start making $17,712 in free money today!

2137 LUZ Ave, San Jose, CA 95116 | MLS# 80942348
2137 LUZ Ave San Jose, CA 95116
Price: $99,000

Beds: 2
Baths: 1.5
Sq. Ft.: 956
$/Sq. Ft.: $104
Lot Size: 871 Sq. Ft.
Property Type: Condominium
Stories: 1-3 (Low Rise)
View: Neighborhood
Year Built: 1973
Community: Alum Rock
County: Santa Clara
MLS#: 80942348
Source: MLSListings
Status: Active
On Redfin: 52 days
Affordable townhouse!!! Perfect for first time buyers or investor. Kitchen-tile counter, wood cabinets, and new tile bathroom floor. Close to freeways, stores and hospital.

Ok… you know all those jokes about how sellers are giving away houses? And how the Bay Area is becoming affordable?

Let’s face it – this condo is practically free, and it’s very affordable.

If you can’t afford the 30 year fixed mortgage of $425 and the HOA of $280, seriously… why are you here?

Heck, you could work one day a week and afford living here.

But wait, there’s more – just look at the amazing instant equity waiting for you to unlock!

Heck, even if you don’t buy it as a home, you could buy it as a hang out for you and your buds:

Just bring your laundry over, and play foosball while you’re waiting!

Again, if you can’t afford to live here – you really shouldn’t be living in the Bay Area.

It’s search engine result Thursday!

Recently someone found this site by searching for: “how many can afford $700000 home”

Well, let’s do some basic math. Let’s assume that everyone who has a tech job makes at least $100k. This is obviously at the low end, but round numbers make it easy.

Now let’s assume that these people are married/partner’ed with another tech worker. That’s $200k!

Now, in the rest of the nation, the “safe” mortgage limit is 3x gross salary. But in the Bay Area, real estate prices are a sure bet, as are jobs. Let’s bump this up to 4x.

So… in the Bay Area, a typical family can borrow up to $800,000 safely! And that doesn’t even include a downpayment.

I guess the answer is: everyone!

14 MANSION Ct #714, Menlo Park, CA 94025 | MLS# 80930044
14 MANSION Ct #714 Menlo Park, CA 94025
Price: $1,995,000

Beds: 3
Baths: 3.5
Sq. Ft.: 2,850
$/Sq. Ft.: $700
Lot Size: 1 Sq. Ft.
Property Type: Condominium
Style: Contemporary
Stories: 1-3 (Low Rise)
View: Bay, City Lights
Year Built: 1975
Community: Sharon Heights/Stanford Hills
County: San Mateo
MLS#: 80930044
Source: MLSListings
Status: Active
On Redfin: 122 days
Fabulous bay views from this sophisticated Sharon Heights condominum. grand master suite, exceptionally spacious room sizes, wonderful entertaining flow and move in condition! One level living with step down living room, sep. dining area, wet bar, updated eat in kitchen w/ office nook. Large storage & two car pkg in secure garage. Lush gardens, pool, spa, club house, elevator. Las lomitas schools

To celebrate the peak of Condo/Townhouse week, I thought this would be appropriate.

It’s ok to gasp.

$2 million dollars for a condo on Mansion Ct. A 3br/3.5 ba 2,850 sqft condo. This is craziness!

You know what else is crazy? The HOA: $900 a month.

You might be wondering, how much over asking will this house that requires a $9,468 monthly payment sell for?

Honestly, it’s hard to say. There’s so many things going for this house. First, it’s on a street called Mansion Ct… that in itself is worth 2% over asking. Then there’s the fact that it is really targeted at middle managers who don’t want the hassle of homeownership – but they do want the pride. That’s probably worth another 4%. Finally, there’s the $900 HOA! That makes living here extremely exclusive. That’s gotta be worth another 5%.

All in all, this is an extremely unique property that’s looking for an extremely unique customer. But once the perfect match is made, someone will be living in an awesome condo on Mansion Court.

(HINT to future buyer: please petition the city to rename the street: Megamansion Row, to up the value!)

621 E EL CAMINO REAL #102, Sunnyvale, CA 94087 | MLS# 80940350
621 E EL CAMINO REAL #102 Sunnyvale, CA 94087
Price: $329,000

Beds: 1
Baths: 1
Sq. Ft.: 590
$/Sq. Ft.: $558
Lot Size: 1,864 Sq. Ft.
Property Type: Condominium
Style: Traditional
Stories: 1-3 (Low Rise)
View: Neighborhood
Year Built: 2006
Community: Sunnyvale
County: Santa Clara
MLS#: 80940350
Source: MLSListings
Status: Active
On Redfin: 62 days
Just 3 years new condo in ground level of a 2 story building. Feeling new- maple cabinet, granite counter top, tiled kitchen and bath floor, stainless appliance, granite faced wood burning fireplace, A/C. It’s of Fremont High too. This one BR one BA unit next to green area gives full functional to enjoy life. Easy access to shoppings, restaurants adds fun too.

Just 6 miles down the street from yesterday’s virtually free condo in Los Altos, is this virtually free condo in Sunnyvale.

Seriously, if you can’t afford the $1,200 a month (5/1 Arm with 20% down) mortgage… what are you doing in the Bay Area? Heck, this is cheaper than renting! Sure it might be half the size of a comparable $1,500 a month (including HOA) rental… but will you have the pride of ownership of living on the road of royals?

Let’s look beyond the price – let’s look at the features of this house. It’s got a granite faced wood burning fireplace that you’ll use season after season to keep your house romantically warm. Hey, at just 590 sqft, it’ll actually work!

And look! This unit is next to a green area that gives full functional to enjoy life! Happy time be unison for road real!

Finally, it’s of Fremont High too. That’s right… this condo’s lineage can be trace to Fremont High. I think this is Fremont High’s great grand step son… or something to that effect. Hey… that’s some prestige right there!

It’s been a while since condos and townhouses have been featured here, so let’s take a look and see what the market is like.

4388 EL CAMINO REAL #399, Los Altos, CA 94022 | MLS# 80946898
4388 EL CAMINO REAL #399 Los Altos, CA 94022
Price: $489,880

Beds: 1
Baths: 1
Sq. Ft.: 787
$/Sq. Ft.: $622
Lot Size: -
Property Type: Condominium
Style: Contemporary
Stories: 1-3 (Low Rise)
View: Neighborhood
Year Built: 2009
Community: North Los Altos
County: Santa Clara
MLS#: 80946898
Source: MLSListings
Status: Active
On Redfin: 21 days
New homes! Located at Los Altos Ave & El Camino Real. Construction complete! Ready for move-in. Located close to schools, parks, shopping, restaurants. Minutes from downtown Palo Alto/Los Altos. 78 townhomes and condominiums designed to provide the urban oasis you seek. Clean architectural lines. Lush courtyard with pool/spa.

Sure, the $/sqft seems a bit high at $622, but let’s face it… it’s only $489,880. They’re practically giving away this 1br/1ba condo in Los Altos.

And just look at the features! It’s construction complete! There’s no need for you to worry about living in a construction incomplete residence!

Located on the historic and prestigious road of royals, El Camino Real, you really can’t beat this location for convenience!

Heck, you’ll be living right next door to a gas station! You’ll never see your fuel gauge on E again! And by having that much traffic outside, it’ll really help realize the promise that this will be your urban oasis.

But again… at this price, they’re practically giving away condos in Los Altos.

America’s Smartest Cities—From First to Worst – The Daily Beast
#2, SAN FRANCISCO-OAKLAND-SAN JOSE

Metro Area Population: 6,093,729

Daily Beast IQ Score: 165

Like Raleigh-Durham, the Bay Area’s great universities (University of California-Berkeley) spawned a world-class technology hub, and the brains follow. On a per capita basis, the number of people with college and graduate degrees was right at the top. The Bay Area only fell short of No. 1 because of a relatively low score in political engagement, undercutting the reputation of this notorious activist hotspot.

Congrats to the Bay Area for coming in 2nd in America’s Smartest Cities! Woohoo!

Was it any surprise that with all the geniuses at Stanford, Berkeley, De Anza, Google, Sun, Yahoo, Oracle, Salesforce, Twitter, Genentech, UCSF that we’d score so high?

Let’s face it, this survey was rigged – “low score in political engagement”? Yeah right. Who cares! We’re too busy changing the world 140 characters at a time, poking each other, and googling!

More importantly, our main enemies rank way below: Seattle is at 7, tied with Washington DC. Our arch nemesis, New York? 13.

Figures. It’s full of idiots. If it weren’t… then there wouldn’t be anyone left because only smart people live in the Bay Area. (And sometimes Raleigh apparently.)

(Thanks to the multiple Burbed readers who sent this in!)