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Politics : Formerly About Advanced Micro Devices
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To: Richard Wang who wrote (113138)5/28/2000 10:26:00 PM
From: tejek  Read Replies (1) of 1574122
 
My choice now is either to blow much of my hard-earned profits on a Marin County property, or go for a more modest Alameda home, either one sitting on Bay front.

Richard,

I would go for the more modest Alameda home.....the main reason being is that you are buying at the top of the market in N. CA; to whit the median is now at $557 k. Why blow out all your money now! And we know from the stock markets that what goes up will come down....eventually. And then when the real estate bubble bursts or there is some reduction in prices you can revisit the Marin market.

A good example of a burst bubble is S. CA/LA. In the late 80's it was one of the most expensive housing markets in the US...right after Hawaii and N. CA. When the bubble burst, in the early 90's, you could not give your home away. Ten years later and the LA market is just now reaching its 1989 peak.....Orange and San Diego Counties, two years earlier. In Hawaii its been a slow, prolonged pullback...still the same result...hard to sell a house especially if its above $200- 300 k.

In addition, with my background in real estate, I have learned that the neighborhoods that people think they want when they first move to a new city are not usually the neighborhood they end up in.....your tastes change and/or your perceptions. JMO.

ted
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