It's definitely a trade-off. We don't have kids so proximity to them isn't a factor. But I love our north peninsula coastal location close to friends, Kaiser, the airport, the City and BART. And of course, that VIEW!I hear you. We’ve been in the RE market for about two weeks now. Very low inventory, decent places go into “pending” in about two weeks. The less than desirable places sit longer, but still go into “pending.” Sale prices at asking price.
We’re looking out further east, into Contra Costa and Alameda counties. More inventory in these places, and generally, a little more “house for the price.”Yeah, it's kind of a weird place to be. Move-in starter or more "elder friendly" home in my area would be between $1.2-$1.4M. Quick and dirty math of selling my approximately $2M house (Assuming $500k basis, $100k sales cost, $500k exclusion and approximately 25% tax (state and fed) on the $900k profit of $225k leaves me with $1.675M net to buy a house. Besides the cost and hassle of moving I don't think I'm ready to give up my million dollar view just to make my life a little easier. The aging gods may have other plans for me in the future.Bay Area (Silicon Valley) here.
We’re looking to downsize from our current home since I retired last month. Local inventory for “moderate” priced homes are being scooped up (one or two weeks on the market before they go pending.) Even with these high interest rates, the houses are moving. We will look further out in the East Bay area where there is more inventory.
I also like our weather. We Coasties whine when it gets above 80 degrees.
Statistics: Posted by Carefreeap — Sat Mar 23, 2024 1:01 pm — Replies 2914 — Views 518078