Today….in the San Francisco Bay Area.
My friend sold this old thing around 5 years ago for way under a million. But that was then, this is now. As I mentioned, it is now valued at $1.23 million. In fact, I have never in my WILDEST dreams imagined it would ever sell for anything over $600,000. But prices can only be as crazy as the politics here.
Some dated snaps and stats of this “fancy” home:
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Detached Single Family (Class 1)
Bed/Bath: 4/2½
SqFt: 2,120
Lot: 5,000 sq ft
Age: 28 years
List Price: $1,229,000Property Features
Basic tract house with 1 Master Bedroom Suite, 1 Shower over Tub, 1 Stall Shower, Laundry Area - Inside, Wet Bar, Fireplace in Family Rm, Wall to Wall Carpeting, Granite Floors, Microwave Oven, Built-In Oven, Cooktop Range, Disposal, Dryer, 1 Dishwasher, 1 Refrigerator, Washer, 2 Car Garage, Attached Parking, Level Lot, Yards/Grounds, No Pool
As you can see, nothing remarkable at all.
Now this is what $1.23 million SHOULD buy you (as per CNN Money) and only a mere 1,260 miles away!
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Boulder, Colorado
Price: $1.199 million
Bedrooms: 6
Baths: 4
Square feet: 6,387Description: This lodge-style home, just 10 minutes from downtown Boulder, boasts big views from nearly every room. It’s in a gated community that has a 40-acre lake stocked with fish and a private beach. Owners can also swim in an infinity pool complete with waterfall. The pool is surrounded by a tile deck.
Inside, the rooms are exposed to daylight streaming through entire window walls. There’s a raised hearth fireplace in the living room, wood wainscoting and built-in china cabinets in the dining room and a wood-paneled ceiling in the kitchen.
I am hoping that this real estate bubble burst will drill some reality into California’s stubborn homeowners out there who still believe there are chumps around who will be willing to release them from their overpriced shacks at unreasonably stratospheric valuations. I’ve heard from brokers that there are way too many homeowners still being obstinate about pricing. Let this market come back to earth please — wouldn’t it be healthier if that happens? Or am I just sour graping?
By the way, this property finally got an offer for close to list that will most likely be accepted; even though I’m glad it’s changing hands, the price still boggles the mind.
Hi thanks for visiting my blog. Well this is a very nice house. Hope I could have had one like the one below. But, my problem is I don’t have that amount of cash with me.;-)
I hope my blog will help you further. If you have any kind of problems related blogging, you can ask me anything you want.
Nice. I guess the old adage “location, location, location” is still true.
What I would be truly interested in is the price of these two homes in 5 years, or 10, or 20. My guess is that the one I would rather live in wouldn’t be the one which sells higher in the future.
I am of the group of folks that are kicking themselves for not buying 5 years ago. I am still a happy renter. Sitting in my condo within earshot of Seattle’s SpaceNeedle, I am loving where I am at…but just can’t imagine paying the $600K it would take to buy my 1 bedroom, 880 sqft apartment!
I have a good friend who lives in Boulder, and totally loves it.
festival of investing - February 7, 2007…
Welcome to the February 7, 2007 edition of festival of investing.
Paul Smith presents Quick Analysis of 0 -10c stocks with PE under 10 posted at Investing using Fundamentals on the Aussie StockMarket, saying, “A Quick Analysis of stocks with a…
[…] It is 8,000 square feet, built on 2 levels, has 7 bedrooms and 7.5 baths and sits on close to 2 acres. It used to sit on almost 3 acres until Larry successfully sold off a 1 acre slice of the land. Hmmm….. that’s not as big as some houses owned by your typical well off American family. However, it’s smack dab in the middle of the San Francisco Bay Area, where a 2,100 square foot house on a little over 5,000 square foot lot can sell for $1 million. […]
I get that the housing prices are way off out that way just by watching HGTV & TLC…It’s enough to make you fall off the couch! My house is HUGE (3800+ sqft, 2-3 apartments, we are using 1 as our space now, 3 1/2 stories, hardwood floors, original wood work including oak pass through cabinetry) compared to that 2100 sq ft tract house & I have 1.5 acres & subsidized electric for way under 1.23M. If you don’t like it there move here I will sell my house for the right offer, a bargin $500K would get my attention!
[…] Valley Blogger presents This Old House Is Worth $1.23 Million posted at The Digerati Life. Silicon Valley Blogger’s friend sold this old thing around 5 […]
Wow! This is a very nice house! I love the view of the large bay window looking out over the pool.
In such a crazy real estate market, the seller really made a good move! Love the house…wish I had that kind of view. It looks as though it might need some updating…hard to believe it sold for this much.