STUNNING bay area mega-mansion hits the market for $2.2 million

Portland Hobby Jogger wrote:

no hurricanes or tsunamis..... Just tornadoes, humidity, meth, extreme cold, low wage jobs, extreme heat, crumbling bridges, opioid deaths, an aging populace, backwards thinking, etc.

Grew up in the Midwest, left decades ago, and never looked back. I visit every so often and it is sad to see how people and places have not changed for the better. The West Coast has its fair share of self-imposed problems but, at least it dared to diversify its economy and move towards the future. There are lots of chronically unemployed and underemployed citizens in the heartland hoping against all logic that the latest GOP "trickle down" scheme will magically bring back the high paying union factory and agriculture jobs of 40 years ago.

People like you are insufferable. Think you're better than everyone in your home town, move to a big coastal city and talk trash about how backwards and stupid your hometown is, pay $11 for craft beers and generally suck at life.

There is a website called "Mr. Money Mustache" which about a couple that saved up to 70% of their take home income and retired at 30 to raise a family and create websites.

aoxomoxoa wrote:

Oh Please wrote:

It is indeed funny to see a 2.2 million dollar home that features large areas of cheap carpet and generic 12x12 ceramic tile. I'll bed the wood floors are laminate too.

That said, the argument is a bit misleading because not everything is about your house. LOCATION LOCATION LOCATION. My former MIL lived in Dayton and there is no way I'd want to live in that land locked dump.

I live just outside of Dayton. My wife and I formerly lived in NJ, NYC, and Chicago.

You couldn't pay me enough to live anywhere else. We absolutely love it.

Wut. I’m guessing you mean Kettering. Or Centerville. Or whatever new ‘burb is in nearby. I doubt you live in Dayton proper. Yeah I say I’m from Dayton too because no one out here knows the burbs.

On another note it’s possible to have all the benefits of the West in a package that doesn’t cost a couple million. I bought a 230k house in walking distance to downtown Eugene. Granted it’s worth 320k now because our market is crazy. But it’s not 2 million. And I have an ocean and mountains to play in.

Hardloper wrote:

That and 90% of the populated areas are butt ugly strip malls and parking lots. And it's expensive not just due to inflated demand but restricted supply due to earthquake regulations and outdated zoning laws.

Ummm have you been to Ohio/Indiana/Illinois?

And now he's divorced, probably (though he won't say) because his wife finally got tired of being told how to spend every cent, or not spend as the case may be.

ck3237 wrote:

There is a website called "Mr. Money Mustache" which about a couple that saved up to 70% of their take home income and retired at 30 to raise a family and create websites.

He retired too early.

If you had a clue you’d know that whoever can afford that Silicon Valley house isn’t buying it for its current state, they are buying it because it’s a solid investment with extremely valuable location and they have at least a few hundred thousand to renovate it. It’s quite normal here in NYC to buy a $2-4 million townhouse in Brooklyn and spend well over $500k to gut it/fully renovate. It’s called putting your money to work. Many of those renovated townhouses run for $5+ million.

I hate to break it to you but being a truck driver isn’t going to result in significant cash flow. Sure, you can live in a low cost area in the middle of nowhere and save, but your quality of life is going to suck compared to the educated tech engineer living in CA, who despite working hard is financially and intellectually rewarded, can build a great nest egg, and has much more disposable income to enjoy life in their free time. And they will eat at McDonalds, if they want to. Not to mention depending where that person retires, they could really live like a king. Sorry, one life path is much more desirable than the other and no amount of trolling is going to change that.

You won't think the couple that buys that house is so crazy when they sell it for $4 million in 6 years.

People here in the Bay Area who bought during the downturn (2009-2010) have seen their houses double in value.

My house is nothing special, but I can go out my door and run for miles on duffy singletrack in the redwoods, over mountains, to the Bay, to the beach, to San Francisco, to waterfalls. A good long run with a lot of stuff like that is called an MJL - Mortgage Justification Loop. I reckon I pay about $50 per run, but they are very nice runs.

Death pf wrote:

Hardloper wrote:

That and 90% of the populated areas are butt ugly strip malls and parking lots. And it's expensive not just due to inflated demand but restricted supply due to earthquake regulations and outdated zoning laws.

Ummm have you been to Ohio/Indiana/Illinois?

He dreams about living in Red USA. He is either afraid to take the plunge, or he likes being surrounded by liberals.

That's all? Pretty cheap for SF.

This is pretty standard fare for the Bay Area these days...

When I was living there (circa 2010-2011) homes like that in SF proper were going for around 1.3-1.5. That was in the Sunset Area though... you get up to Richmond, maybe 1.6-1.7. Absolutely absurd for what you're getting... the allure of the area, and lack of space, are what drive the cost up.

Note: Unless I win the lottery, there's ZERO chance I'll ever live there again... well ok, maybe if Katy Perry asked me to accompany her.

Better solution: Get a tech job in a place like Raleigh, Dallas, or Houston where the cost of living isn't insane.

I thought the thread was going to be about this house in NH

https://www.zillow.com/homedetails/445-Marcy-St-Portsmouth-NH-03801/95353070_zpid/

Trollminator wrote:

If you had a clue you’d know that whoever can afford that Silicon Valley house isn’t buying it for its current state, they are buying it because it’s a solid investment with extremely valuable location and they have at least a few hundred thousand to renovate it. It’s quite normal here in NYC to buy a $2-4 million townhouse in Brooklyn and spend well over $500k to gut it/fully renovate. It’s called putting your money to work. Many of those renovated townhouses run for $5+ million.

Yeah and this is a big problem

When you sink 2mil into a house expecting to make an easy buck profiting off the intrinsic value of the land -- that's a market failure.

We need to overhaul zoning codes and property tax schemes to encourage higher density housing and efficient use of land in cities. This will de-incentivize the rent-seeking behavior described above.

But, guess who shows up a local city council meetings to complain about 'neighborhood character, etc' and keep their investment safe...

stuffy wrote:

Honestly, that house is a bargain and not in the most desirable location. Check out this mansion.

https://www.zillow.com/homedetails/2135-Alma-St-Palo-Alto-CA-94301/19497360_zpid/

Haha, asking 2.9 million and on a 4-lane highway where people drive 45, and the train tracks are right there on the other side of the street!! I wonder if it will really sell for that.

Makes my house on a cul-de-sac in the same town look like some kind of villa...

Do you realize how hypocritical you’re behaving or do you need me to point it out for you?

100% agree.

I live in SD. There's like 3 cities (NYC, Seattle, and the Bay Area..okay not an actual city) in the entire U.S. I can't move to and get a bigger house and put a bunch of cash in the bank.

Of course you do ?

True. But he isn't wrong.