What $800k in Silicon Valley looks like

[Anonymous]

Willow Glen is very desirable- it makes sense I guess. I lived very close to there in a town called Los Gatos...we were there 5 years and left for a job opportunity in Southern California. It’s ever so slightly less expensive here. It’s crazy.

[Anonymous]

Anonymous wrote:Just listed

https://www.redfin.com/VA/Arlington/4925-Old-Dominion-Dr-22207/home/11229023


785K

"Condemned"

Silicon Valley doesn't sound so bad, there's a lot less to haul away before you can start rebuilding for roughly the same price..

Oh wow and the school ratings aren't even that great other than the elementary school. I don't get why people pay these prices when there are cheaper places that are also close to DC.

[Anonymous]

“Enter at your own risk.” Colonial Village, DC, $907K.

https://www.redfin.com/DC/Washington/1860-Redwood-Ter-NW-20012/home/10020658?utm_source=myredfin&utm_medium=email&utm_campaign=ios_share&utm_nooverride=1&utm_content=link

[Anonymous]

You do wonder if the DC area will get to that level. As the capitol city of the most influential country in the world, we still aren't at the level of a London or Paris. We have so much more room to go up. Some parts of the area are getting there, but others are still relatively affordable. Alexandria is one example. Just because the schools aren't great, the prices are held back and here it so close to DC near all the transit. It's a diamond in the rough. And parts of Maryland are like that as well that have yet to gentrify.

[Anonymous]

Anonymous wrote:“Enter at your own risk.” Colonial Village, DC, $907K.

https://www.redfin.com/DC/Washington/1860-Redwood-Ter-NW-20012/home/10020658?utm_source=myredfin&utm_medium=email&utm_campaign=ios_share&utm_nooverride=1&utm_content=link

A third of an acre in Colonial Village! Get ready to be gray, charming house.

[Anonymous]

This is so silly, this is an $800k lot. The house is irrelevant.

[Anonymous]

Anonymous wrote:It will go well over ask. I'm thinking $1.3. it is way worse here than DC area will ever be. I've lived in both and the Bay area is absolute insanity.

DC is competitively close. There are teardowns in my neighborhood going for $1 million even when the existing homes look salvageable. There are $1.5 million gut jobs. There are $800K build lots. So, unless you live in DC proper, you really don't know the neighborhoods.

[Anonymous]

Anonymous wrote:Willow Glen is very desirable- it makes sense I guess. I lived very close to there in a town called Los Gatos...we were there 5 years and left for a job opportunity in Southern California. It’s ever so slightly less expensive here. It’s crazy.

But WG schools aren't that great. I know someone who moved there pre-kids, thinking all these educated folks moving in would turn the schools around, but it didn't happen. Many went private, and so she moved out of there after kids hit school age. But the area is quite nice. Homes over $1mil.

One of the more "reasonably" priced:

https://www.redfin.com/CA/San-Jose/2324-Lincoln-Ave-95125/home/848997

2/2 1641sqft @$945K. 100% it will go over asking.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Just listed

https://www.redfin.com/VA/Arlington/4925-Old-Dominion-Dr-22207/home/11229023


785K

"Condemned"

Silicon Valley doesn't sound so bad, there's a lot less to haul away before you can start rebuilding for roughly the same price..

Oh wow and the school ratings aren't even that great other than the elementary school. I don't get why people pay these prices when there are cheaper places that are also close to DC.

better high tech jobs, better weather.

[Anonymous]

Anonymous wrote:You do wonder if the DC area will get to that level. As the capitol city of the most influential country in the world, we still aren't at the level of a London or Paris. We have so much more room to go up. Some parts of the area are getting there, but others are still relatively affordable. Alexandria is one example. Just because the schools aren't great, the prices are held back and here it so close to DC near all the transit. It's a diamond in the rough. And parts of Maryland are like that as well that have yet to gentrify.

I agree with this post. I've traveled many times to London and Paris and agree that especially close in Washington DC Metro areas are prime real estate.

Let's hope this tri-state infusion of money to WMATA will accomplish what we all hope regarding Metro.

[Anonymous]

1 mill in my Arlington neighborhood is a tear down so this doesn’t surprise me.

[Anonymous]

I send my FIL in the Silicon Valley our NOVA real estate listings. He and his friends have a good chuckle over morning coffee about selling their 3-bedroom ranch homes to buy an estate of their choosing in Potomac, MD that has a library, etc.

And they could actually do it if they wanted to, which they won't, because they are Californians and love it there. And if they sold, they could never move back to the same standard of living.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It will go well over ask. I'm thinking $1.3. it is way worse here than DC area will ever be. I've lived in both and the Bay area is absolute insanity.

DC is competitively close. There are teardowns in my neighborhood going for $1 million even when the existing homes look salvageable. There are $1.5 million gut jobs. There are $800K build lots. So, unless you live in DC proper, you really don't know the neighborhoods.

Agree. Here is an example. It was not on the market for more than 30 days. It sold on 4/11/18. https://www.redfin.com/DC/Washington/3600-Brandywine-St-NW-20008/home/9976059

[Anonymous]

What's crazy is that 800K is an incredible bargain for the land. This is priced for a bidding war. A 1600 sq ft remodeled upgraded house in South Bay is hardly ever sells under 1.5M. South Bay is considered the affordable area.

We learned when we moved out here that houses usually sell several hundred thousand over list price and most even sell for a few thousand or hundred thousand over appraisal price. A house listed for 1.695 in Cupertino will sell for at least 1.9-2.2 M. A house in WG, Cambrian or Los Gatos listed at 1.2 will go for 1.5-1.8M.

[Anonymous]

how the eff do normal humans live in that area?