Albany Wannabe? (San Jose, San Francisco, Oakland: sales, real estate market, rentals)

[dburbs1975]

I am an interested in moving to Albany. I have a job I am considering in Vallejo. My spouse is an embedded software engineer who feels there is a shortage of people with his skill set, and is not concerned about finding a job, but we would be able to live well on just my income. We will sell a 3500 sq ft newer home on an infill lot in a very popular Detroit suburb for at least 550K, but would not bank on a penny more because though things have improved, it is still the midwest. We would be in a position to buy something half the size in Albany for 50% more, or rent for about the same as our monthly expenses currently come to. We live within two blocks of an elementary school, community center, and library, and within two miles of the next town (small) that has restaurants, boutiques, coffee, movie theater, but in my opinion this is only accessible by foot 4-5 months per year due to the weather. There is no useful public transportation here to speak of, and I do not consider Detroit and up and coming city, though people here get very defensive about the blight just a few miles down the main drag.

We have two young preschool aged children, the older will be ready for kindergarten in a year. We are interested in the Bay area because of job prospects, primarily. We are highly educated, but very low maintenance. Our time off is spent primarily with the kids going to small local playgrounds and parks, museums with interest to the kids, socializing with our synagogue's young families group, and socializing with neighbors. The weather here is grey and bitter cold for 5-6 months a year, though there are outdoor types who go out anyway, I find it uncomfortable and spend those months, for the most part, running from my car to shelter. I am looking forward to being able to kiss the snow goodbye for good.

I have reviewed lots of info from this forum, I am interested in Albany because it is on public transportation, is reputed to have a community feel, it is commutable distance to Vallejo, is close to a Conservative Jewish synagogue that has an after school religious program, and is more 'in-town' than suburban.

I would like to hear from people who live in Albany. Is this a viable location for us long term? Are there small playgrounds and community activities for young children? Are there decent daycare options, or is childcare on a waiting-list-only basis? Are there walkable family places to eat, have coffee (does not have to be trendy)? Is it a place where people stay to raise their families, or do they tend to move inland east for larger homes? What are other options we should consider, given our values and job prospects?

[California Vagabond]

I'm not qualified to say much about Albany -- although I'm sure other forum visitors are! -- but do feel comfortable making one recommendation: if you possibly can, rent before you buy.

You've obviously done a lot of research, and strike me as careful and well-prepared. Still: any new community thousands of miles away will offer many unexpected surprises. If you buy before you come, you're locked into the neighborhood you chose from afar.

Good luck.

[wave9x]

Albany is an excellent place for families. In fact, many people specifically move there to raise kids from SF, Oakland, and Berkeley, as the schools are excellent and you are still in an urban area with many, many things going on.

[clongirl]

Albany is great as are many, many other places in the region! I would definitely take prior poster's advice...don't buy until you're set and sure you like where you're living.. Real estate is extremely pricey here.

Make sure you know what city your husband will be working FIRST. This is the most important thing when moving to these parts. If you're just coming out on spec, and he's in the tech industry you may want to consider anywhere closer to the Peninsula/South Bay for a start. Most tech jobs are in Silicon Valley---there are also many jobs in San Francisco, but again, it really depends. You would not want your husband to commute to Silicon Valley from Albany. That would be absolutely brutal.

So... job first, find a rental (or the other way around), then see what communities are good for your family.

FYI...all the great amenities generally come with a huge price tag.. Everybody (from natives to to newcomers) wants exactly what you want also, and is absolutely priced accordingly!

[dburbs1975]

Thanks.
Strange, though originally I thought most of the tech jobs would be in San Jose/Palo Alto/Milipitas area, when he started scouting around, in his niche, it turns out, there are many opportunities in San Francisco with a smattering inland in Walnut Creek area. I originally was dead set on the peninsula, Palo Alto, in particular, but this job came up with a very good future in my specialty niche at a pay level that would allow me to work a normal work week, and if needed, my husband would not have to work at all. We both like this option as I have put my career advancement on hold for the kids, and he has worked like a veritable slave. This would give us one parent at home, but flexible to take contracts that are favorable, and the other parent with the steady benefit laden job. As older parents, this is a nice thought for us.

I appreciate the suggestion to rent first. My only concern is that I am out of my element here, having owned my own home for the last 23 years, and it feels natural (though more a feeling than a rational thought) to want my own again - but I have looked into rentals as well, and for some reason it seems that the rents are almost more favorable given the cost of purchasing. Perhaps someone can comment on why that seems so to me?

[04kL4nD]

Now just isn't a good time to buy in the Bay Area. People are cashing in and selling old dumpy houses at a premium to all cash buyers. The inventory is really low and the demand is sky high, so unless you want to get sucked into a bidding war for what will be a grossly overpriced property, it's smarter to rent for now and wait it out.

[wooliemonster]

I just arrived in Berkeley. It's awesome. Do it.

On the flip side, I'm presently in a tiny short-term rental and have yet to brave the horrors of the real estate market (after having a pleasant past six years owning in Texas).

PS. Add 20% to all list prices you see on the MLS to arrive at the actual sales price. Houses are sold auction-style here. Good luck.

[04kL4nD]

20% is low balling it. 30% and CASH is what you'll need.

[wooliemonster]

In SF, perhaps. My feel for Berkeley / "NOBE" is 10-20% based on the houses I've "starred" on Redfin and watched through closing.

[04kL4nD]

The three houses my partner and I bid on all closed for over 30% list and were all cash offers. Offers were put in back in April/May and they were in Oakland and San Leandro, but ymmv.