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Non-Tech : Investing in Real Estate - Creative Opportunities -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (892)	8/12/2012 4:40:25 PM
From: tejek	Respond to of 2722

One modest, 1,700-square-foot house recently was listed at $879,000. It drew more than 50 competing offers and sold to an all-cash buyer for $1,050,000 in less than a month. This is the #1 reason I refuse to move to Silly Valley. You have to be FB/Google multimillionaire to afford just a basic house. IMHO, there are better things to do with $1M. I don't disagree with you. SV has a great climate but its not worth $617 per sq ft.

To: Jurgis Bekepuris who wrote (892)	8/17/2012 10:35:18 AM
From: John Vosilla	Read Replies (1) \| Respond to of 2722

Buy a house in SV for $800k with 20% down your payments on a 15 yr mtg at 2.75% are $4343 a month. With taxes and insurance how would PITI compare to a rental? I am guessing many families have lots of cash saved and the spread isn't that substantial. In 15 years you own it free and clear with $800k equity even if values stay the same. A huge committment and you must ASSUME a lot over a long period. Wonder what comparable rent vs own numbers worked out to 10-20-30 years ago out there?