590 HURLINGAME Ave Redwood City, CA 94063

$225,000

Beds:	2
Baths:	1
Sq. Ft.:	760
$/Sq. Ft.:	$296
Lot Size:	2,500 Sq. Ft.
Property Type:	Detached Single Family
Stories:	1
Year Built:	1964
Community:	Dumbarton
County:	San Mateo
MLS#:	81013621
Source:	MLSListings
Status:	Active This listing is for sale and the sellers are accepting offers.
On Redfin:	7 days

Great single family home located on a desirable corner lot. Must see this charming two bedroom, two bath home with many updates. Garage has been converted with unknown permits. Ready to move in. Very cozy, close to all amenities.

Thanks to Burbed reader Nate for this find.

Wait a sec… haven’t we seen this before somewhere?

http://www.burbed.com/2008/10/29/houses-on-hurlingame-being-snatched-up-fast/

Huh… so… maybe tings aren’t selling as fast as I thought they would be. Let’s take a look at the history:

Wow… what a roller coaster!

Hey… but 2007 was nearly 5 years ago, and we all know that real estate is on a 5 year cycle. So this could be the year this house comes back!

It’s search engine result page Thursday!

Recently someone found this site by searching for: “100K salary and $500K in bank”

And that, my friends, is why Bay Area house prices simply cannot possibly drop.

First, we all know that $100k is almost what the starting salary is for a person with a MS degree in CS from Stanford. And let’s face it, who doesn’t have a MS degree from Stanford these days? Ok… not even close to starting salary? Then 3 years afterwards – that you have to agree with.

Next, who doesn’t have $500k in the bank, after 3 years of working? You eat breakfast, lunch, dinner at work. You only wear free t-shirts from work. You bike to work. You don’t go on vacation because you don’t need to – you live in the Bay Area. You call your parents and they send you a suitcase of cash. Boom! $500k easily!

With $100k in salary, and $500k in the bank, you can easily afford a $1-1.1M house. No problemo.

What? You don’t have $500k in the bank? Where did it go?

$469,000 – 526 KNICKERBOCKER RD, TENAFLY NJ

Property Remarks

POTENTIAL SHORT SALE! SUBJECT TO LENDER/BANK APPROVAL. RARE OPPORTUNITY ON A BRIGHT AND CHARMING WELL KEPT CENTER HALL COLONIAL HOME ON DOUBLE SIZE (145X138) LOT.THIS VALUABLE HOME FEATURES 3B/R,11/2BTHS,2DRIVEWAYS ,DEN AND HARDWOOD FLOORS THROUGHOUT. WALKING DISTANCE NYC BUS,PARK, SHOPPING,AND BLUE RIBBON DISTRICT SCHOOL.

Ha ha. Got you didn’t I? An $469k for a 3 bedroom, 1.5 bath single family house in a good school district? You’re out of your mind.

Instead, you’ll have to go to the “unaffordable” (HAH) east coast, especially that New Jersey where everyone is always complaining about how “expensive” it is to live there.

Take that NJ and your affordable homes in the nation’s best (not California’s best) school districts.

Just look at these lame stats:

Median Household Income of $118k? With house prices like this? Forget about it! (or…  fuhgeddaboudit). There’s no comparison!

The Bay Area continues to lead the nation in un-affordability, fair and square.

Congrats Bay Area!