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      10-03-2019, 10:15 AM   #1
M_Six
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It really is location, location, location

My BIL recently moved into a semi-fixer-upper in Burbank, CA. 3bds/2ba 1400sf. Ugly ass house. Bought it for just under $1mil with a killer monthly mortgage for 30 yrs. For the same price, he could have bought this in our area.

https://www.zillow.com/homedetails/7...80647100_zpid/
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      10-03-2019, 10:19 AM   #2
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Exactly location. For that price I can damn near buy a castle or some old manor estate back in the old country.
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      10-03-2019, 10:26 AM   #3
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As someone who lives in the SF Bay Area, I am painfully aware of this.

Speaking for everyone who lives in these high priced areas, our perception of prices is SO skewed and out of whack.

I was in Tahoe City a couple of months ago and talked to a friendly guy stocking the shelves in Safeway at 9:30pm or so, he was telling us how he just bought a house on over an acre with a finished shop, outside of Reno. Obviously 'outside of Reno' is not the most desirable place to be, but (sadly) it didn't make sense to me and my friend that someone with (what would be considered by many to be) a normal job could afford a house with some space and a shop.
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      10-03-2019, 10:32 AM   #4
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Oh - it is just ridiculous. For reference, here is what you could get in my neighborhood for $1m.

On the water, 7,980sf.

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      10-03-2019, 10:36 AM   #5
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Lol yeah I donít even want to start talking about prices here. Home ownership is almost not worth it anymore. Decent home with about 1,600 sq ft going for $1M. The bigger ones (2,500 sq ft) in nicer cities like Los Altos are $2.5M+. Yeah...I just donít think about it anymore. Maybe a recession will correct it. Haha
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      10-03-2019, 10:40 AM   #6
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Quote:
Originally Posted by Run Silent View Post
Oh - it is just ridiculous. For reference, here is what you could get in my neighborhood for $1m.

On the water, 7,980sf.
Damn
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      10-03-2019, 10:55 AM   #7
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Originally Posted by Run Silent View Post
Oh - it is just ridiculous. For reference, here is what you could get in my neighborhood for $1m.

On the water, 7,980sf.

that is no house....thats a castle lol
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      10-03-2019, 11:06 AM   #8
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I dig living in the midwest, however prices here are creeping up into the 'stupid' category as well. The wife and I are in early in the process of building our retirement home, custom 2500 sq ft ranch, walkout, 3 garage stalls, 0.6 acre wooded lot, somewhere between 400-500k when all is said and done.
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      10-03-2019, 11:42 AM   #9
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Originally Posted by Narcosis View Post
I dig living in the midwest, however prices here are creeping up into the 'stupid' category as well. The wife and I are in early in the process of building our retirement home, custom 2500 sq ft ranch, walkout, 3 garage stalls, 0.6 acre wooded lot, somewhere between 400-500k when all is said and done.
I just finished a new home on a mountaintop with a stellar view. 7acres. 3,750sf. All in, it came to $345K, including the land.



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      10-03-2019, 11:59 AM   #10
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Sweet. How bad is access in the winter?
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      10-03-2019, 12:01 PM   #11
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LOCATION LOCATION LOCATION! I got lucky with my house a few years ago as the wife and i bought this in December in the middle of winter where out here in Ohio nobody buys houses in the winter. most people start house shopping around Springtime. so we had a pretty good selection of homes to choose from as we were the only bidders on this house which is 4400 sq ft on 1/2 acre lot. it was listed for $360k and we got it down to $290k. the owner's were already moved out and in Cali and basically left the house in the real estate agent's hands.




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      10-03-2019, 12:13 PM   #12
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Damn! I couldn't get a driveway for $290K.
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      10-03-2019, 12:32 PM   #13
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Ain't fun in SoCal neither. Lots of people in LA live in condos because the houses are too damn pricey and even if you find one it's often garbage, or not a great area. So they opt to live in a small condo in a decent area.
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      10-03-2019, 12:42 PM   #14
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Everyone I work with is from the NE..mainly around Boston. Most of them made out like bandits as you can see from some of the pics on here what you can get in the South.

I'm think I'm only a couple hours away from Run Silent and Now_Rudi ....and we will probably end up moving in the next year or so as my wife wants to find our "Retirement Dream Home".

Not sure if we will stay around these parts...or move towards the guys mentioned above as we do own land not too far from Boone.

It will be interesting as I'm good with a house around 1800 SF. But I want something with a workshop that I can keep a coupe of extra cars in somewhere behind the house.

Since our daughter moved out, we find we don't really need a ton of space. My wife just wants land around us. But she grew up near Boone on 50+ acres....so she is used to it.
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      10-03-2019, 12:45 PM   #15
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Quote:
Originally Posted by Run Silent View Post
I just finished a new home on a mountaintop with a stellar view. 7acres. 3,750sf. All in, it came to $345K, including the land.



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Nice....looks like where my In-Laws are from. They have a ton of land back off to the NW about 20 minutes before you get to Boone NC.

Beautiful country!
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      10-03-2019, 12:46 PM   #16
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Quote:
Originally Posted by KenB925 View Post
As someone who lives in the SF Bay Area, I am painfully aware of this.

Speaking for everyone who lives in these high priced areas, our perception of prices is SO skewed and out of whack.

I was in Tahoe City a couple of months ago and talked to a friendly guy stocking the shelves in Safeway at 9:30pm or so, he was telling us how he just bought a house on over an acre with a finished shop, outside of Reno. Obviously 'outside of Reno' is not the most desirable place to be, but (sadly) it didn't make sense to me and my friend that someone with (what would be considered by many to be) a normal job could afford a house with some space and a shop.
Skewed is correct. I moved from Marin County to Nashville six months ago. Before I left I got my teeth cleaned by a young dental hygentist, she was explaining to me how she just got a killer deal on a one bedroom in SF ($2900 a month). Umm...
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      10-03-2019, 12:53 PM   #17
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Quote:
Originally Posted by Run Silent View Post
Oh - it is just ridiculous. For reference, here is what you could get in my neighborhood for $1m.

On the water, 7,980sf.

Holy Crap!!!. I live in SF Bay area too and man you get way more bang for the buck. 1mil in SF would get you a little 1000 sq. Ft shit hole fixer upper.
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      10-03-2019, 01:32 PM   #18
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Originally Posted by M_Six View Post
Sweet. How bad is access in the winter?
Well - I've not spent a winter up here yet, but from what I understand - snowshoes are required. Neighbor who lives down the hill about 1/4 mile says that once or twice a year, you need to park at the bottom of the road and hike it. Most folks just leave their quads down at the bottom of the road in the winter and use those to get up to their homes if it gets bad. That's my plan. The road (which is basically my driveway) is about 1.5 miles and has about 1,100 ft of elevation climb. House sits at roughly 5,500 ft +/- 500 depending on where you are on the property.

Quote:
Originally Posted by lsturbointeg View Post
LOCATION LOCATION LOCATION! I got lucky with my house a few years ago as the wife and i bought this in December in the middle of winter where out here in Ohio nobody buys houses in the winter. most people start house shopping around Springtime. so we had a pretty good selection of homes to choose from as we were the only bidders on this house which is 4400 sq ft on 1/2 acre lot. it was listed for $360k and we got it down to $290k. the owner's were already moved out and in Cali and basically left the house in the real estate agent's hands.
Fantastic, sir! That is a very nice home for the money - well, a very nice home full stop. You did well.

Quote:
Originally Posted by Rmtt View Post
Nice....looks like where my In-Laws are from. They have a ton of land back off to the NW about 20 minutes before you get to Boone NC.

Beautiful country!
Thanks - I am about 30 miles from Boone. Not far away at all. Come visit, I've got some moonshine soaked maraschino cherries for my guests.



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Originally Posted by Yessir View Post
Holy Crap!!!. I live in SF Bay area too and man you get way more bang for the buck. 1mil in SF would get you a little 1000 sq. Ft shit hole fixer upper.
For reference, my friend just bought one of these units for rental income in my area. He paid $90,000. 2br 3ba, 1200 sf. w/ a 2 car garage. Only 10 minutes from the speedway too. Will rent for about $500 per day during those two weeks.

https://www.trulia.com/p/tn/bristol/...20--2040290923

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      10-03-2019, 01:38 PM   #19
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Quote:
Originally Posted by Run Silent View Post
I just finished a new home on a mountaintop with a stellar view. 7acres. 3,750sf. All in, it came to $345K, including the land.



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This is the type of place that would get me in trouble. Too much seclusion and privacy would be bad news for me. When I see myself living somewhere like this, even as a vacation property, I can already see the FBI helicopters circling overhead.

Beautiful place sir. Assuming this is still TN as it looks like it's 5 minutes down the road from me.
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      10-03-2019, 01:46 PM   #20
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Originally Posted by Now_Rudi View Post
This is the type of place that would get me in trouble. Too much seclusion and privacy would be bad news for me. When I see myself living somewhere like this, even as a vacation property, I can already see the FBI helicopters circling overhead.

Beautiful place sir. Assuming this is still TN as it looks like it's 5 minutes down the road from me.
LOL - you crack me up, sir.

Roan Mountain, TN.
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      10-03-2019, 01:52 PM   #21
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This is a mansion under 1 mil will get you
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      10-03-2019, 01:56 PM   #22
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you actually have to live in an area that provides the job for said listed house...
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