<p>Haha, I don’t check this thread for a while and suddenly dstark is becoming a slumload. 
</p>
<p>
This. Back when we were buying, a large percentage of stuff was on the market because the roofs were at EOL, the windows, kitchens, bathrooms, heating systems etc were old old old and needed rehab/replacing, and the owners didn’t want to invest the money. So they put it on the market looking for a sucker.</p>
<p>Don’t be a sucker. </p>
<p>“We are using leverage”</p>
<p>But you say you are all equity!</p>
<p>For that you will go bankrupt if vacancy took a hold and many did in the 2007/8 down turn. Try Detroit.</p>
<p>Notrichenough, and artloversplus, :).</p>
<p>I never said we were all equity. </p>
<p>You two are very negative. :)</p>
<p>Right now, there is no such thing as 11% cash on cash, some thing wrong with the deal.</p>
<p>Not around here. ;)</p>
<p>is this a bubble in SF? prices sure seem outrageous. drove pat the last house DS and fiancee didnt get. pretty but small, as most here are. their bid was ridiculous and they we re still outbid. please let this be a bubble soon to burst.</p>
<p>Jym626, :).</p>
<p>My daughter wants to move to Marin in a couple of years. She wants to live close to her parents. I don’t know how that happened but I am :).</p>
<p>You get more for your money in Marin but Marin is not a good place if you are in your 20’s.</p>
<p>Jym626, even if SF real estate is in a bubble, this is one of the best places to live in the world. Lots of smart people. Beautiful area. Incredible weather. The area is built out.</p>
<p>This area is too attractive for prices to drop and stay down.</p>
<p>SF is also giving tax breaks to tech companies to do business here. </p>
<p>There are lots of great places to live. That said the prices of everything out here are painfully high. </p>
<p>Price is consummated with job prospect and pay scale, it did not come from no where. In SF the wages are higher, thus the price. I am sure your s and dil make a good penny, so if you make more you have to spend more to get what you wanted. There are plenty of cheap alternatives just outside of the city or across the bridge.</p>
<p>That’s true for some, but not all, artloversplus. And fortunately they are in well paid positions, but regardless, a 1600 sq ft house for 1.7 million is silly </p>
<p>Just like college apps, if you are only eye on to HYPM, then you have to pay dearly for it. As said, you can get 1600 sf home for about half the price along the Bart route and be in the city for work in about same time as live in the city. Millbrae, San Bruno and Emeryville are VERY urban, downtown stores are not less accessible.</p>
<p>Your son can also live in the Sunset district for much less. </p>
<p><a href=“Real Estate, Homes for Sale & Apartments for Rent | Compass”>Real Estate, Homes for Sale & Apartments for Rent | Compass;
<p>Where is your son looking?</p>
<p>Trust me, they’ve considered every combination and permutation with traffic and transportation issues and commutes times and options with each going in different directions and different commute options. They dont work in the city. And IMO, even 850K for 1600 sq ft is ridiculous. Where I live, 850K buys you a mansion.</p>
<p>I visited SF 30 years ago and the prices at that time were absurd compared to other places. They are obviously much higher now. I guess they will always be going up. Not meaning to offend anybody, but I truly don’t get why SF is so desirable. I’ve been to a lot of places and SF is no big deal to me but I guess I’m in the minority.</p>
<p>Prefer not to talk about the specifics front channel. They would like to stay in the area where they currently live. They are in no hurry. Its just ridiculous with multiple bids at 30% over asking and no contingencies. And many are cash offers. </p>
<p>The city is great when a person is in his or her 20’s and early 30’s. </p>
<p>Raising a family? I don’t know. I don’t think I would live in the city.</p>
<p>There are many places in the country where it costs $850,000 for 1600 sq ft.</p>
<p>My daughter and her fiance are renting a place in the city. A one bedroom near the ballpark. $3600 a month with parking. They just got a notice. Next year the rent will be increased 15 percent. Newer building. No rent control. </p>
<p>They will move down the peninsula in between SF and Silicon Valley. Maybe Millbrae. </p>
<p>Its nuts. DS and fiancee are looking for a place they can live in for at least 6-7 years. And equidistant from their jobs, which they hope to be staying in for the long run, which is a 45 min commute for each of them in completely different directions. They are currently in an older property, rent controlled, paying $2250/mo. Sounds like a comparative bargain. </p>
<p>Dstark.
I think there are a few pockets of places (eg LA, NYC, HI, parts of Boston, etc) where 850K gets you 1600 sq ft (and here that would be a serious fixer-upper). I am not sure I know of “many” places where that is so. </p>
<p>Rent controlled? $2250? That could be a very good deal.</p>
<p>We have had a huge run up in prices the last few years. I think the price increases are slowing down in the north bay. </p>
<p>I don’t know about SF. If there are multiple bidders paying cash…</p>