housing market: good, bad, craziness, etc.

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cwerdna

Well-known member
Joined
Jun 3, 2011
Messages
13,671
Location
SF Bay Area, CA
Over at TiVoCommunity, there's a long running thread "Wow...I didn't realize housing market was this bad...Everyone okay out there?"

Here's a recent post by someone over there:
"This house in Sunnyvale was listed for $1,888,000.00 and sold in less than a week for $2,210,000.00 (over $320K over asking)...

http://www.1632swallow.com/ (at 1632 Swallow Drive)

This is nuts!"

My response was:
That's crazy! I have a friend who lives near there (or did). He bought a long time ago and even then, it was expensive.

I'd posted about the catalytic converter stolen off my former 06 Prius (sold to my dad 2 years ago) on social media. That friend pinged me today about my post saying his neighbor's catalytic converter also got stolen off their Prius, he believes also gen 2, like mine. Friend has a gen 3 Prius + 2 other cars so he wanted opinions about which to park in the garage.

We all live in the southern part of the SF Bay Area.

Someone else posted this house:
Nelly’s Crumbling Mansion Hits the St. Louis Real Estate Market [PHOTOS]
https://photos.riverfronttimes.com/nellys-crumbling-mansion-hits-the-st-louis-real-estate-market-photos/?slide=28&nellyville25

Listing is at https://www.realtor.com/realestateandhomes-detail/M7953941672 for $599K and it's pending. From the listing:
6 bed 6.5 bath 10,799 sqft 12 acre lot
17329 Hidden Valley Dr, Wildwood, MO, 63025

My response was:
For the size of house and lot, it would be a BARGAIN in the Bay Area. Heck, even if it needed $600K of work to fix it, it'd still be a bargain.

However, I have no idea about that area or the value of other houses in that area.
 
The housing market is certainly not about people having a place to live anymore. There is an article in this week's NewYorker about someone from Hungary who made a sort of performance art piece about posing as a prospective buyer of high-zoot NYC apartments. One of the main points she made was 'the agents considered it a selling point that most of the apartments that had been sold remained empty, because they were investments—“a new global currency,” as Schmied said.'

Not sure if this link will work...
https://www.newyorker.com/magazine/2021/03/08/andi-schmieds-billionaire-espionage-art-project
 
Man, this is pretty sad in Palo Alto, CA: https://www.zillow.com/homedetails/3886-Ross-Rd-Palo-Alto-CA-94303/19498689_zpid/. It's on sale for over $2.5 million. It's $1,826 per square foot!

Be sure to check out what's inside too.
 
cwerdna said:
Man, this is pretty sad in Palo Alto, CA: https://www.zillow.com/homedetails/3886-Ross-Rd-Palo-Alto-CA-94303/19498689_zpid/. It's on sale for over $2.5 million. It's $1,826 per square foot!

Be sure to check out what's inside too.

But unlike with the first post, it's 1 year later, and interest rates are higher, so is the market still crazy?
 
That is pretty amazing, even for Palo Alto. I wouldn't be surprised if it ends up as a scrape-off.
So far, I hear interest rates haven't made much of a dent here in Boulder. I've been told that a lot of buyers are cash buyers so interest rates don't matter....
I guess my kids and many others who grew up here won't be able to live here. It' still a lot less sad than what's happened to folks who grew up in Hawaii.
 
cwerdna said:
Man, this is pretty sad in Palo Alto, CA: https://www.zillow.com/homedetails/3886-Ross-Rd-Palo-Alto-CA-94303/19498689_zpid/. It's on sale for over $2.5 million. It's $1,826 per square foot!

Be sure to check out what's inside too.

Total insanity, but no doubt someone will pay cash over asking.
 
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