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Started By
Message
re: The house that sold for $800K over asking price speaks to the inequity of California
Posted on 11/19/17 at 7:42 am to Sarge
Posted on 11/19/17 at 7:42 am to Sarge
quote:
Which this makes their CALexit even better for them. They split from the Union, the can self-sustain.
Calexit is something I've never seen or heard an actual Californian talk about. It's not on their radar at all. It's just something for the fringe on both sides to grasp onto that the media can use to lead them around with, without having much basis in reality.
What most of this board knows about California is laughable at best.
This post was edited on 11/19/17 at 7:46 am
2
Posted on 11/19/17 at 7:43 am to Isabelle81
quote:
That house is atrocious. Looks to be worth about $80K. Don’t care what the location is.
Then you're ignorant of market forces, I guess. It's worth every bit that to someone, who'll raze it and put up something much nicer. There's some stupid money being made there.
Posted on 11/19/17 at 7:46 am to Sayre
quote:
What most of this board knows about California is laughable at best.
Do tell....
Posted on 11/19/17 at 7:52 am to Sarge
I do fee appraisals for residential and commercial properties in southern California. It is insane. My wife's grandfather bought a house in the 60s and it is now worth over $4 million because he put 4 apartments in the back yard of the house. POS houses get sold for well over asking price. A move in ready house is $1.25.
It's ridiculous and I am out of here in the next few years.
It's ridiculous and I am out of here in the next few years.
Posted on 11/19/17 at 7:54 am to Sayre
quote:
, I guess. It's worth every bit that to someone, who'll raze it and put up something much nicer.
I was about to post that the buyer likely just wants the lot to build on.
Posted on 11/19/17 at 7:57 am to Sayre
quote:
I'm just a electrician, but I don't have any problems paying my $2500 a month rent on the 2 bedroom condo I lease in San Jose.
Do you have a problem getting butt raped? That’s essentially what’s happening here
Posted on 11/19/17 at 7:57 am to El Segundo Guy
quote:
It's ridiculous and I am out of here in the next few years.
The thing about California is, for every person wanting to get out, there's more wanting to get in.
The market wouldn't be so hot if everybody wanted out, would it?
Posted on 11/19/17 at 7:59 am to Upperdecker
quote:
Do you have a problem getting butt raped? That’s essentially what’s happening here
You're mistaken. I'm actually paying a couple hundred less a month than I might for a comparable location. I just happened to snap it up when it became available. I'm really happy with it. It's a nice condo built in the mid-80s, covered garage, close to the 17 and the 85, Lunardi's right around the corner. It's fricking awesome to me.
Plus, I make three times as much in Silicon Valley as I did in Louisiana, so no, I'm ecstatic about it.
This post was edited on 11/19/17 at 8:01 am
Posted on 11/19/17 at 8:00 am to Sayre
quote:
Then you're ignorant of market forces, I guess. It's worth every bit that to someone, who'll raze it and put up something much nicer. There's some stupid money being made there.
I don’t think he’s ignorant of market forces, I think he’s pointing out that something is definitely out of whack here.
I get that it’s close to Apple, but It’s nearly two and a half million for a dated, single family in need of renovation. Even if you want the lot, it can’t be anymore than 10K sq ft. In a suburb. And someone just paid almost $2.5MM for that?
Posted on 11/19/17 at 8:01 am to Upperdecker
quote:I'm sure being an electrician pays a little more in LA than in La. , I guess he's ok.
Do you have a problem getting butt raped? That’s essentially what’s happening here
Posted on 11/19/17 at 8:03 am to StupidBinder
quote:
I don’t think he’s ignorant of market forces, I think he’s pointing out that something is definitely out of whack here.
I get that it’s close to Apple, but It’s nearly two and a half million for a dated, single family in need of renovation. Even if you want the lot, it can’t be anymore than 10K sq ft. In a suburb. And someone just paid almost $2.5MM for that?
Nothing is out of whack. It's supply and demand. It's Silicon fricking Valley. People make a shite ton of money here, and don't think twice about spending it.
All you have to do is look at how short an amount of time properties stay on the market to see how hot the demand is. Properties almost never languish before they sell. They get snapped up p.d.q. And that's only going to get more true as Google continues to buy up all of East San Jose to build their next huge (8,000,000 sq ft) campus, doubling the size of the footprint of downtown San Jose.
My condo is 1100 sq ft. The owner paid $565k in 2015. Others in the same development that are exactly the same are selling for $620k to $650 currently.
This post was edited on 11/19/17 at 8:12 am
Posted on 11/19/17 at 8:04 am to Sayre
quote:
What most of this board knows about California is laughable at best.
Swimming pools, movie stars.
Posted on 11/19/17 at 8:07 am to achenator
quote:
I'm sure being an electrician pays a little more in LA than in La. , I guess he's ok.
Making $102k in five months and 4 days is fricking awesome.
This post was edited on 11/19/17 at 8:09 am
Posted on 11/19/17 at 8:11 am to Sayre
quote:
The thing about California is, for every person wanting to get out, there's more wanting to get in.
That's because...who wouldn't want to try to live in California? It's beautiful there.
If you are a nurse...California is the best state you can possibly work in from a wages standpoint. California nurses are by far the best paid nurses in the country.
Posted on 11/19/17 at 8:15 am to lsunurse
quote:
If you are a nurse...California is the best state you can possibly work in from a wages standpoint. California nurses are by far the best paid nurses in the country.
That's true, except weirdly enough, in the Stanford system. Another electrician friend of mine from Rochester, N.Y. brought his girlfriend, who's a nurse, out to the Valley. She's really good at what she does, and is loving the wages. But she was shocked when she was first looking around and saw how little Stanford paid compared to the other hospitals in the region. If I remember correctly, I think she said it's because they're classified as a 'teaching' hospital.
Posted on 11/19/17 at 8:16 am to Sayre
quote:
Nothing is out of whack. It's supply and demand. It's Silicon fricking Valley. People make a shite ton of money here, and don't think twice about spending it.
All you have to do is look at how short an amount of time properties stay on the market to see how hot the demand is.
My condo is 1100 sq ft. The owner paid $565k in 2015. Others in the same development that are exactly the same are selling for $620k to $650 currently.
I don’t think that people in Silicon Valley earn ten times what tech earners in other parts of the country earn. Yet they’re apparently paying ten times more for housing.
The fact that properties are selling fast doesn’t exactly mean everything is fine. Stuff sells fast in bubbles (that’s actually kind of the definition a bubble).
I’m not saying that this is definitely a bubble, I’m just saying that “Hot Market” doesn’t necessarily equate to “Everything is Gravy”.
Posted on 11/19/17 at 8:19 am to lsunurse
quote:
That's because...who wouldn't want to try to live in California? It's beautiful there.
And there's so much to do. They don't spend a lot of time gathering dust.
Posted on 11/19/17 at 8:21 am to LakeViewLSU
quote:
Markets are always correct unless influenced by outside forces.
Thanks for tidbit from econ 101
Later you'll realize shite is more complicated
This post was edited on 11/19/17 at 8:22 am
Posted on 11/19/17 at 8:23 am to StupidBinder
quote:
I don’t think that people in Silicon Valley earn ten times what tech earners in other parts of the country earn.
There are an infinitely greater amount of tech workers in that region, and they are compensated with the housing market in mind, for the most part.
The number of huge corporations that have their corporate office there is staggering. There's a lot of very high salaries and compensation packages.
It's a level of affluence on a scale you don't find in a lot of other areas.
Posted on 11/19/17 at 8:26 am to StupidBinder
Thousands of high technology companies are headquartered in Silicon Valley. Among those, the following 39 are in the Fortune 1000:
Adobe Systems
Advanced Micro Devices (AMD)
Apple Inc.
Cisco Systems
eBay
Intel
Intuit
Nvidia
Oracle
Sun Microsystems
Yahoo!
Adobe Systems
Advanced Micro Devices (AMD)
Agilent Technologies
Alphabet Inc.
Apple Inc.
Applied Materials
Brocade Communications Systems
Cisco Systems
eBay
Electronic Arts
Facebook
Google
Hewlett Packard Enterprise
HP Inc.
Intel
Intuit
Juniper Networks
KLA Tencor
Lam Research
LSI Logic
Marvell Semiconductors
Maxim Integrated Products
National Semiconductor
NetApp
Netflix
Nvidia
Oracle Corporation
Riverbed Technology
Salesforce.com
SanDisk
Sanmina-SCI
Symantec
Tesla, Inc.
Visa Inc.
VMware
Western Digital Corporation
Xilinx
Yahoo!
Additional notable companies headquartered (or with a significant presence) in Silicon Valley include (some defunct or subsumed):
3Com (acquired by Hewlett-Packard)
8x8
Actel
Actuate Corporation
Adaptec
Aeria Games and Entertainment
Akamai Technologies (HQ in Cambridge, Massachusetts)
Altera
Amazon.com's A9.com
Amazon.com's Lab126.com
Amdahl
Anritsu
AstraQom
Asus (headquartered in Taipei, Taiwan)
Atari
Atmel
Broadcom (headquartered in Irvine, California)
BEA Systems (acquired by Oracle Corporation)
Cadence Design Systems
Cypress Semiconductor
Dell (headquartered in Round Rock, Texas)
EMC Corporation (headquartered in Hopkinton, Massachusetts)
Extreme Networks
E*TRADE (headquartered in New York, NY)
Fairchild Semiconductor
Flex (formally Flextronics)
Foundry Networks
Fujitsu (headquartered in Tokyo, Japan)
GoPro
Groupon (headquartered in Chicago, IL)
Harmonic, Inc.
HCL Technologies (headquartered in Noida, India)
Hitachi Data Systems
Hitachi Global Storage Technologies
IBM Almaden Research Center (headquartered in Armonk, New York)
IDEO
Infosys (headquartered in Bangalore, India)
Informatica
Intuitive Surgical
LinkedIn (acquired by Microsoft)
Logitech
Lucasfilm
Maxtor (acquired by Seagate)
McAfee (acquired by Intel)
Memorex (acquired by Imation and moved to Cerritos, California)
MetricStream
Micron Technology (headquartered in Boise, Idaho)
Microsoft (headquartered in Redmond, Washington)
Mozilla Foundation
Move, Inc.
Nokia (headquartered in Espoo, Finland)
Nokia Solutions and Networks (headquartered in Espoo, Finland)
NXP Semiconductors
Nook (subsidiary of Barnes & Noble)
Olivetti (headquartered in Ivrea, Italy)
Opera Software (headquartered in Oslo, Norway)
Palm, Inc. (acquired by Hewlett-Packard)
Panasonic (headquartered in Osaka, Japan)
PARC
PayPal (it has been demerged from eBay)
Pixar
Playdom
PlayPhone
Qualcomm, Inc. (HQ in San Diego, CA)
Quanta Computer
Quantcast
Quora
Rambus
Roku, Inc.
RSA Security (acquired by EMC)
Samsung Electronics (headquartered in Suwon, South Korea)
Samsung Research America (headquartered in Suwon, South Korea)
SAP SE (headquartered in Walldorf, Germany)
Siemens (headquartered in Berlin and Munich, Germany)
SolarCity
Sony (headquartered in Tokyo, Japan)
Sony Mobile Communications
Sony Interactive Entertainment
Square, Inc.
SRI International
Sun Microsystems (acquired by Oracle Corporation)
SunPower
SurveyMonkey
Synopsys Inc.
Tata Consultancy Services (headquartered in Mumbai, India)
Tibco Software
TiVo
TSMC
Twitter
Uber (company)
VA Software (Slashdot)
Verifone
VeriSign
Veritas Software (split off from Symantec)
VMware
WebEx (acquired by Cisco Systems)
@WalmartLabs
YouTube (acquired by Google)
Yelp, Inc.
Zynga
Silicon Valley is also home to the high-tech superstore retail chain Fry's Electronics.
Notable government facilities
Moffett Federal Airfield
NASA Ames Research Center (Located inside Moffett)
Onizuka Air Force Station
LINK
Adobe Systems
Advanced Micro Devices (AMD)
Apple Inc.
Cisco Systems
eBay
Intel
Intuit
Nvidia
Oracle
Sun Microsystems
Yahoo!
Adobe Systems
Advanced Micro Devices (AMD)
Agilent Technologies
Alphabet Inc.
Apple Inc.
Applied Materials
Brocade Communications Systems
Cisco Systems
eBay
Electronic Arts
Hewlett Packard Enterprise
HP Inc.
Intel
Intuit
Juniper Networks
KLA Tencor
Lam Research
LSI Logic
Marvell Semiconductors
Maxim Integrated Products
National Semiconductor
NetApp
Netflix
Nvidia
Oracle Corporation
Riverbed Technology
Salesforce.com
SanDisk
Sanmina-SCI
Symantec
Tesla, Inc.
Visa Inc.
VMware
Western Digital Corporation
Xilinx
Yahoo!
Additional notable companies headquartered (or with a significant presence) in Silicon Valley include (some defunct or subsumed):
3Com (acquired by Hewlett-Packard)
8x8
Actel
Actuate Corporation
Adaptec
Aeria Games and Entertainment
Akamai Technologies (HQ in Cambridge, Massachusetts)
Altera
Amazon.com's A9.com
Amazon.com's Lab126.com
Amdahl
Anritsu
AstraQom
Asus (headquartered in Taipei, Taiwan)
Atari
Atmel
Broadcom (headquartered in Irvine, California)
BEA Systems (acquired by Oracle Corporation)
Cadence Design Systems
Cypress Semiconductor
Dell (headquartered in Round Rock, Texas)
EMC Corporation (headquartered in Hopkinton, Massachusetts)
Extreme Networks
E*TRADE (headquartered in New York, NY)
Fairchild Semiconductor
Flex (formally Flextronics)
Foundry Networks
Fujitsu (headquartered in Tokyo, Japan)
GoPro
Groupon (headquartered in Chicago, IL)
Harmonic, Inc.
HCL Technologies (headquartered in Noida, India)
Hitachi Data Systems
Hitachi Global Storage Technologies
IBM Almaden Research Center (headquartered in Armonk, New York)
IDEO
Infosys (headquartered in Bangalore, India)
Informatica
Intuitive Surgical
LinkedIn (acquired by Microsoft)
Logitech
Lucasfilm
Maxtor (acquired by Seagate)
McAfee (acquired by Intel)
Memorex (acquired by Imation and moved to Cerritos, California)
MetricStream
Micron Technology (headquartered in Boise, Idaho)
Microsoft (headquartered in Redmond, Washington)
Mozilla Foundation
Move, Inc.
Nokia (headquartered in Espoo, Finland)
Nokia Solutions and Networks (headquartered in Espoo, Finland)
NXP Semiconductors
Nook (subsidiary of Barnes & Noble)
Olivetti (headquartered in Ivrea, Italy)
Opera Software (headquartered in Oslo, Norway)
Palm, Inc. (acquired by Hewlett-Packard)
Panasonic (headquartered in Osaka, Japan)
PARC
PayPal (it has been demerged from eBay)
Pixar
Playdom
PlayPhone
Qualcomm, Inc. (HQ in San Diego, CA)
Quanta Computer
Quantcast
Quora
Rambus
Roku, Inc.
RSA Security (acquired by EMC)
Samsung Electronics (headquartered in Suwon, South Korea)
Samsung Research America (headquartered in Suwon, South Korea)
SAP SE (headquartered in Walldorf, Germany)
Siemens (headquartered in Berlin and Munich, Germany)
SolarCity
Sony (headquartered in Tokyo, Japan)
Sony Mobile Communications
Sony Interactive Entertainment
Square, Inc.
SRI International
Sun Microsystems (acquired by Oracle Corporation)
SunPower
SurveyMonkey
Synopsys Inc.
Tata Consultancy Services (headquartered in Mumbai, India)
Tibco Software
TiVo
TSMC
Uber (company)
VA Software (Slashdot)
Verifone
VeriSign
Veritas Software (split off from Symantec)
VMware
WebEx (acquired by Cisco Systems)
@WalmartLabs
YouTube (acquired by Google)
Yelp, Inc.
Zynga
Silicon Valley is also home to the high-tech superstore retail chain Fry's Electronics.
Notable government facilities
Moffett Federal Airfield
NASA Ames Research Center (Located inside Moffett)
Onizuka Air Force Station
LINK
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