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real estate craziness

Original post made by hoops, Mohr Park, on Mar 15, 2013

Here we go again.I was struck by the ad I am looking at now on this page....1529 sq ft 4 br 2 bath 650,000.Wow what a bargain!Once again we are venturing into insanity for the housing costs in Pleasanton.Think about it.Small rooms and probably 20 or more years old.650,000 dollars.Does it have an ocean view???

Comments (9)

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Posted by Cholo
a resident of Livermore
on Mar 15, 2013 at 7:24 pm

Please esplain how you've come to believe that $650,000 is a too high?

besides, it has a lovely view of a gas station...duh

plus...if it sells to somebody from another part of the world, is that cool?


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Posted by dublinmike
a resident of Dublin
on Mar 15, 2013 at 7:30 pm

dublinmike is a registered user.

There is a major problem in the Bay Area. Low inventory, high demand. Investor groups gobbled up the cheap homes. Silicon Valley worker have moved up to Pleasanton. Pleasanton, Livermore and Dublin want to provide for more high-tech employment and that attracts people wanting to live in the Tri-Valley.

It all adds up to increasing home prices. Only relief is to build out more homes. We live in another south bay and peninsula environment. As a life-long resident of the valley and of the east bay, I speak with authority.


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Posted by hoops
a resident of Mohr Park
on Mar 16, 2013 at 9:58 am

I understand all about supply and demand.The problem is when the investors buy everything cash and deny regular people looking to buy a home at a decent price.Of course they can still buy the home from the investor if he is flipping it,but of course for a lot more money.Money rules the world as always.The investors rationalize it all saying they are putting people to work fixing up these homes,but who exactly are they putting to work?Lets be real here.Cheap labor to maximize their profits.So the bottom line is majority of the work is not done by licensed contractors and the reality is it simply makes it much more difficult for someone to afford a house.So that 1529 ft house costs 650,000 instead of 550,000,even if it is just a normal resale.The investors create the shortage.


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Posted by Steve
a resident of Stoneridge
on Mar 16, 2013 at 12:43 pm

Well, see, because of the large-scale mass exodus from California, housing prices have taken a plunge. No, wait, let me rethink this one. Hey, Edith, pass me another tootsie roll!


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Posted by Mike
a resident of Highland Oaks
on Mar 16, 2013 at 4:15 pm

Mes Amis,

If you have money and use it wisely, you benefit.

Mike


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Posted by hoops
a resident of Mohr Park
on Mar 16, 2013 at 6:10 pm

You benefit,but society may not.


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Posted by Jason
a resident of Pleasanton Meadows
on Mar 16, 2013 at 8:19 pm

Home prices are still below what they were in 2005. And yes, there is an exodus of private sector jobs out of CA. The Bay Area, fueled by Silicon Valley, is significantly outperforming the state as a whole. We have the second worst credit rating of any state and our recent bond issue didn't go so well.

Yet folks are concerned that home prices are too high as the "rich" continue to get richer. A record number of billionaires in the U.S. in 2012. So how's that redistribution of wealth thing working out?


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Posted by Mike
a resident of Charter Oaks
on Mar 18, 2013 at 4:44 pm

The redistribution of my wealth seems to be moving forward at an alarming rate. Stuck here in the state I was born in for another 5 years, then I'm gone. My house will sell to the highest bidder no matter what country they are from or purpose they have for it.


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Posted by Hank
a resident of Another Pleasanton neighborhood
on Mar 18, 2013 at 4:54 pm

Yeah, home prices in 2005. Now there's a standard to judge other years.

And, yikes, almost 200 companies shuttered and moved from Cal last year, while over 1800 moved in/started up.

But Jason'll keep blowing his horn nonetheless. 3 Zucchinis.


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