151–160 of 209 posts
Earlier quoted context omitted.
Here is a snapshot of sales of lots that are 10.000 to 20.000 sqft sold in the last 3 months: https://www.redfin.com/city/19457/CA/Sunnyvale/filter/min-lo... 2,5M, with respect to the existing market, doesn't appear to be out of the norm.
It's not a lot relative to Sunnyvale it's a lot relative to the US The idea being Sunnyvale can justify that with salaries and the employers in the area
Greetings from New York. You people are fucking insane, for the love of God please consider building some apartment buildings. Cheers.
Someone who wants a house is not really willing to have an apartment. Someone who is ready to put this amount of money in a house is definitely not willing to get an apartment.
Greetings from New York. You people are fucking insane, for the love of God please consider building some apartment buildings. Cheers.
The strength of NIMBYs here is dramatically higher than in New York. That is supported structurally through the fragmentation of local politics. Source: I'm a New Yorker transplant to Palo Alto.
Also the lack of developers. Probably owing to concentrated land ownership, e.g. the Getty family. New York's structural consolidation was driven, in part, by private companies developing real estate and transportation systems.
Developers seem to play a unique political role in organizing, in absentee, renters. Homeowners tend to self organize. This is because (a) they bet a lot of money on their houses, (b) have the time and money to politically organize, evidenced by (a), and (c) stay put for a while. Renters don't naturally self-organise. Developers naturally counterbalance homeowners by seeking to (x) increase housing supply and (y) consolidate small plots into larger ones, thereby also (z) driving density.
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The USA is like that as well. If you receive a cash offer with no contingencies for your asking price then you can't refuse. This is specifically to prevent discrimination against minorities. In most real world transactions there's some back / forth with the lawyers about details (ex: " We want your ugly drapes! ") as well as non-cash considerations. A seller may accept a lower cash offer over a higher mortgage based…
Do you have a citation for "seller must accept cash offer"?
In France, there's no such thing as paying over the ask price. You are forced to sell to the first buyer who offers to pay the ask price. I suspect that this is done to prevent prices from rising too quickly.
Greetings from New York. You people are fucking insane, for the love of God please consider building some apartment buildings. Cheers.
Earlier quoted context omitted.
Someone who wants a house is not really willing to have an apartment. Someone who is ready to put this amount of money in a house is definitely not willing to get an apartment.
Yes, but some people would prefer to have an apartment and save some money, and that would overall create less demand for the available homes. End result: people who want apartments get them, people who want houses still get them and pay less for them too.
In France, there's no such thing as paying over the ask price. You are forced to sell to the first buyer who offers to pay the ask price. I suspect that this is done to prevent prices from rising too quickly.
OK, but you have to understand the dynamic in this neighborhood. I also live about 1 mile from the new Apple campus, in a slightly different, though very similar, Sunnyvale neighborhood. You prep your house to sell by getting all inspections done ahead of time and staging it reasonably for showing. Agent-only open house tours are on Tuesday in my neighborhood. Buyers' agents make a short list of properties worth visi…
Earlier quoted context omitted.
Someone who wants a house is not really willing to have an apartment. Someone who is ready to put this amount of money in a house is definitely not willing to get an apartment.
Lower apartment prices would cause a downward pressure on overall real estate prices, including for houses. As an extreme (and absurd) example, consider the scenario where apartment prices are zero or even negative. Demand for houses would drop dramatically, causing their prices to also drop.
There is plenty of supply below $2.4m. The 20 people who made offers on this house weren't interested.
Working at a huge tech company like Google or Facebook is attractive to me, but not enough to justify spending $2.5M on a smaller house, or 12x more per square foot. And this is just in Phoenix. I know there are other places with tech jobs and much lower cost of living, or better income-to-COL ratios.