<p><a href=“320 Via Casitas #111, Greenbrae, CA 94904 - Movoto”>320 Via Casitas #111, Greenbrae, CA 94904 - Movoto;
<p>Two years ago, This condo sold for $300,000. Now it is for sale for $499,000.</p>
<p>Wth? :)</p>
<p>Are prices up that much?</p>
<p>What are you seeing?</p>
<p>I just bought my apartment late last year, already getting cash offers in the mail. I am seeing about 10% increase from last year. Lately I’ve seen some over priced apartment coming down.</p>
<p>I’m seeing crazy high prices and houses selling with multiple offers as soon as they are offered, in South San Francisco Bay.</p>
<p>I think… I think things are slowing down slightly in the north bay. If the above condo sells for anything close to $499,000, I will have to reevaluate. :)</p>
<p>We just moved to DC, and were lucky enough to get what is considered a 'great deal" on our condo…realtor told us we could turn around and sell it for a very tidy profit. The problem, of course, is that we would then be buying an equivalent home, but at the higher price…</p>
<p>In our building it seems that things are selling as soon as they hit the market, and for full price. And the prices are crazy.</p>
<p>dstark,
Is that where your’s is located? Did these folks do any upgrades since they bought it?</p>
<p>Northern Illinois, not Chicago- prices still very depressed. You can get a lovely home with some acreage for $250,000. Houses are starting to sell but the prices are still way low.</p>
<p>CF, so I guess Millbrae, Burlingame, San Carlos, and Redwood City are still crazy.
:(</p>
<p>My daughter is going to be looking for a place…</p>
<p>Our area tends to fall in value less than other areas. And when prices go up we tend to go up more quickly. The house near us asking 2.1 for the teardown lot (we are semi urban, small lots)…sold for 2.5. The foundation is gone. So it is a teardown.</p>
<p>Jym626, </p>
<p>No. That is not where I live.i think there are $10,000 to $15,000 in improvements. </p>
<p>I was thinking maybe</p>
<p>My D is under contract to by a home for $270 which was sold for $309 in 2006</p>
<p>Except for a small dip in 2009 and a bit bigger one in 2012, housing prices have been going up pretty steady for the past 15 years.
A 100 yr old, 1000 sq ft two bedroom house will be about $500,000, if you want bigger, add a couple hundred thousand.
If you want smaller, say a 600 or 700 ft condo or house in a ( much) less desirable neighborhood, you may be able to find something for $200,000. But many properties are going for more than asking price.
Then again, many condos are overpriced for building standards and amenities.</p>
<p>In my area, it went up about 30% since two years ago. I think the builder hadn’t realized things turned up so quickly but I think we bought almost as the bottom turned up. I think 2010-2011 is the bottom for this area.</p>
<p>I was thinking the condo linked would be for my folks because 3 of their kids live in Marin. </p>
<p>That condo is up 50 % in price in two or three years. Hard to stomach that increase.</p>
<p>I think there is still a lot of confusion about exactly where prices are. </p>
<p>We saw a new house on the site of a former tear down sell for $2.995 about 7 years ago. It was on the market for $2.3 as new construction and then the buyer added a whole pile of upgrades including a quarter million dollar stone wall. The house went through foreclosure this summer – it’s been vacant for 2-3 years due to relocation and never actually went on the market. My opinion is that it’s worth $1.6-1.9 – given local comps – but I have not been inside to see if the upgrades make it more valuable. Did the value drop by 50%? I don’t think so. I think a reasonable price for it as new construction was more like $2 million and it’s roughly there depending on who is buying. And houses in that price range <em>are</em> selling here. (Fairfield Co CT)</p>
<p>Prices in my part of Brooklyn are considerably higher than before the crash.</p>
<p>There are lots of homes for sale. I think homes that are near where people work at jobs that pay a lot are selling pretty well. Everything else takes time. The new generation of buyers doesn’t believe that you can’t lose with real estate. </p>
<p>Do those tidy profits account for upgrades, purchase costs, carrying costs, and selling expenses that include realtor commissions? </p>
<p>It seems that a property should have way more than a ten percent increase to yield any profit at all. And that does not even consider any mortgage expenses. </p>
<p>Unless someone is really astute, it seems that real estate has lagged the stock market by a large margin in this century, including the last 3 years. I can see how the owner of a non-controlled rental in SF could enjoy the market, but the replacement will also come from overvalued stock. </p>
<p>Bubble comes to mind! </p>
<p>Xiggi, do you think there is a bubble in the tech sector in SF and Silicon Valley?
Looks to me like there are quite a few unprofitable companies in business. I hear that there is more money than good businesses flying around.</p>
<p>Stocks have done better than residential real estate …but stocks are more volatile. </p>
<p>We just got a postcard saying that the county raised the taxable value of our house over 18% in the last year. We are horrified, because there is no way that we could sell it for close to that (without a huge amount of updating and repair). Plus we aren’t looking to sell for some time, so I am afraid we are going to get taxed out of our home eventually.</p>