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Old 04-16-2024, 07:30 AM
 
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,771 posts, read 81,730,333 times
Reputation: 58170

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I saw this article and wondered if it's just the city or also happening in the suburbs. I still have a lot of family and friends in the Bay Area, mostly east bay.

https://www.newsweek.com/california-...rocked-1890201
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Old 04-16-2024, 12:21 PM
 
Location: SF Bay Area
7,762 posts, read 4,062,263 times
Reputation: 5671
Here's one in that same building.
https://www.realtor.com/realestatean...3_M90644-66113

Sold 05/13/2019 for $950,000
Listed 03/19/2024 for $299,000

No one wants to live in that area.
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Old 04-16-2024, 12:36 PM
 
Location: San Diego CA
8,538 posts, read 6,969,608 times
Reputation: 17153
Well I guess that’s SF. In the 15 years I’ve live here my condo has tripled in price. And it’s paid off.
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Old 04-16-2024, 04:23 PM
 
Location: SF/Mill Valley
8,802 posts, read 3,964,139 times
Reputation: 6191
Quote:
Originally Posted by mattja View Post
Here's one in that same building.
https://www.realtor.com/realestatean...3_M90644-66113

Sold 05/13/2019 for $950,000
Listed 03/19/2024 for $299,000
It only has 445 square feet with HOA fees of $663 per month. It is BMR housing available through MOHCD and subject to resale controls and monitoring. That said, according to Zillow, it sold in 2018 for $247,000.
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Old 04-16-2024, 04:56 PM
 
Location: Putnam County, NY
611 posts, read 2,101,406 times
Reputation: 522
I like the rooftop amenities
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Old 04-17-2024, 08:43 AM
 
Location: In a perfect world winter does not exist
3,661 posts, read 2,994,976 times
Reputation: 6771
Wow, did not know this. I was thinking 10 percent drop in SF area or 20 percent at the most. You don't read much about the extreme drop in home prices in SF because the lefty media won't allow it.
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Old 04-17-2024, 01:09 PM
 
Location: SF Bay Area
7,762 posts, read 4,062,263 times
Reputation: 5671
Quote:
Originally Posted by CorporateCowboy View Post
It only has 445 square feet with HOA fees of $663 per month. It is BMR housing available through MOHCD and subject to resale controls and monitoring. That said, according to Zillow, it sold in 2018 for $247,000.
Are you suggesting San Francisco was in an unsustainable housing bubble?
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Old 04-17-2024, 02:14 PM
 
Location: In the Redwoods
30,438 posts, read 52,094,860 times
Reputation: 23952
Quote:
Originally Posted by mattja View Post
Are you suggesting San Francisco was in an unsustainable housing bubble?
Nah, that's some kind of error or unknown factor. Even SF doesn't have THAT unstable of a market! To go from $247K to almost $1M, then back down to under $300K in just a few years? Probably something to do with it being BMR; perhaps the high purchase price was a developer or something.
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Old 04-17-2024, 02:17 PM
 
Location: In the Redwoods
30,438 posts, read 52,094,860 times
Reputation: 23952
Quote:
Originally Posted by mattja View Post
Here's one in that same building.
https://www.realtor.com/realestatean...3_M90644-66113

Sold 05/13/2019 for $950,000
Listed 03/19/2024 for $299,000

No one wants to live in that area.
That's not right. Must be an error, or something else going on - like a developer who bought multiple units, or maybe it was temporarily removed from the BMR program. Even SF isn't that unstable lol.
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Old 04-17-2024, 02:20 PM
 
Location: SF/Mill Valley
8,802 posts, read 3,964,139 times
Reputation: 6191
Quote:
Originally Posted by CorporateCowboy View Post
It only has 445 square feet with HOA fees of $663 per month. It is BMR housing available through MOHCD and subject to resale controls and monitoring. That said, according to Zillow, it sold in 2018 for $247,000.
Quote:
Originally Posted by mattja View Post
Are you suggesting San Francisco was in an unsustainable housing bubble?
I’m suggesting the 2019 price of $950,000 is an error relative to your link, as it does not appear on Zillow (or elsewhere). Also, it’s BMR housing available through MOHCD.

In other words, the unit is now on the market for $299k (and last sold in 2018 for $247k).
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