California Real Estate is Insane

"Full of the sound of the Gran Fury, signifying nothing." (granfury) 02/18/2018 at 00:00 • Filed to: None

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432 sq. ft. at only $21,296.30/sq. ft. Fuuuuuuuuuuuuuuuuck. Not even a damn garage. Given my house hunting budget I can afford about six sq. ft. of that place.

OK, it’s a tear-down (or servant’s quarters) right on the beach, but still...

Dr. Zoidberg - RIP Oppo > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 00:09

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$920,000...

Location, location, location.

Deal Killer - Powered by Focus > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 00:11

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$900,000+ is for the lot. The house is free.

Full of the sound of the Gran Fury, signifying nothing. > Dr. Zoidberg - RIP Oppo 02/18/2018 at 00:12

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Umm, no. Multiply your figure by 10. Less than a million for that lot would be a steal.

https://www.zillow.com/homes/for_sale/25140907_zpid/9000000-9500000_price/35403-37370_mp/globalrelevanceex_sort/33.571615,-117.749104,33.505797,-117.841372_rect/13_zm/

Dr. Zoidberg - RIP Oppo > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 00:13

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Oh. I missed a zero.

Flavien Vidal > Deal Killer - Powered by Focus 02/18/2018 at 00:20

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9 millions lol

Deal Killer - Powered by Focus > Flavien Vidal 02/18/2018 at 00:30

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415s30 W123TSXWaggoIIIIIIo ( •_•))°) > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 00:36

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Well look at the lot.... I get that. But yeah I am near SF and it’s nuts.

Steve in Manhattan > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 00:41

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It will be underwater in 10 years or so ... look to higher elevations. We just paid crazy money for the apartment we’re living in - 86 feet above sea level!

fintail > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 00:58

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Here’s a local vacant lot for sale, waterfront, but not exactly a sunny warm sandy fun beach resort:

https://www.windermere.com/listing/WA/Hunts-Point/38-Hunts-Point-Rd-98004/75727998

More location location location at work.

Grindintosecond > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 01:03

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What you’re seeing is a plot of land with a free house. Just like anywhere else looking like that, especially NYC, Long Island, it will be razed and a new home like the neighbors constructed.

Full of the sound of the Gran Fury, signifying nothing. > Grindintosecond 02/18/2018 at 01:13

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Oh, I know. There was a favorite estate on the Balboa Peninsula over in Newport Beach that I loved, another $9M+ property. Double-width lot, mid-century modern in style with lots of Asian touches. Across the drive was a nice big lawn area and then a garage and guest house. Someone bought it, razed it, and now there are 5 or six soulless faux-Tuscan monstrosities in its place making the area as anonymous as ever.

Mr. Ontop, No Strokes, No Smokes...Goes Fast. > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 03:13

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Welcome to my nightmare

cbell04 > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 09:07

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Here’s a list of the most expensive homes for sale in Raleigh. Basically you can get 10000 sq foot, pools, 5 car garage, and live like the upper most crusty for a couple million here. No beach but still. Crazy how some areas are priced. Our home is huge in a nice area and was well under 300k I don’t know now you guys do it over there. I guess its a more money more problems kinda world. http://www.wral.com/news/local/image_gallery/17185934/

shop-teacher > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 09:59

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Oye.

When my grandparents got married in 1949, they bought a cottage on the beach in San Diego. They sold it a few years later for a few thousand dollars. Why oh why oh why didn’t they just keep it?????

Ash78, voting early and often > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 10:00

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The house replacement value is probably $20k.

Constructions costs are pretty similar anywhere in the country. Land values, notsomuch.

Eric @ opposite-lock.com > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 14:43

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I don’t think you can touch even a condo around here for a mere 6 times that price per square foot. Maybe over the mountain, but even that’s sketchy. Have you considered hovels in the Central Valley (although even these are getting pricey now-a-days).

Full of the sound of the Gran Fury, signifying nothing. > Eric @ opposite-lock.com 02/18/2018 at 17:13

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I’m now residing in the Midwest, and so the dream of California home ownership (or even renting) is off the table. My parents are still in Laguna, but they bought in 1980 and aren’t going anywhere. The only way I could move back would be if I won the lottery, but I’d have to buy a ticket for that to happen...

Full of the sound of the Gran Fury, signifying nothing. > shop-teacher 02/18/2018 at 17:20

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I know what you mean. Back in the ‘30s my great-grandfather and grandfather built a little 2 bd/1 ba home in San Carlos, CA. It was built on a double lot, and when my great-grandfather passed away, a second wing was added to that house for my great-grandmother. In 1980 my grandparents moved to an area just outside of Palm Springs, with my grandfather constantly complaining about the heat (well, duh), wishing they would have stayed in Northern California. I wish they would have stayed up there as well - that humble little house is now valued at $2.65M...

Full of the sound of the Gran Fury, signifying nothing. > cbell04 02/18/2018 at 17:31

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Well, I’m in the Midwest now, and my budget is just $125-150K. I probably couldn’t find a studio apartment in SoCal for that kind of money, at least not one without a ridiculous commute. It sounds like prices in NC are similar to here in STL, where a couple of million will buy a freaking estate in the toniest of neighborhoods? Me? I just want a nice MCM place with a decent basement and a largish garage.

People wondered why I stayed in my old place near LAX for 19 years, and you can thank rent control for that. Even at $1365/mo I was paying about half of what my neighbors downstairs were paying for the same unit. It would have been even less if I stayed in the 2 bd place instead of moving across the hall for 5 years to the 1 bd and then moving back.

My sister and parents still live in SoCal, with my sister recently buying a modest 2,600 sq. ft. place for over $1.2M. My parents aren’t far from that ridiculous place I posted, albeit not on the beach. They bought in 1980 and paid the place off over well over a decade ago, so they’ve got no reason to go anywhere.

shop-teacher > Full of the sound of the Gran Fury, signifying nothing. 02/18/2018 at 18:50

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Daaaaaaaang!