It's not the best neighborhood...
Shacks. Mark Zuckerberg paid $30M for 4 houses around his pied-a-terre so he could control who is neighbors are.
That's what makes $500k-$600k fixer uppers in PDX look cheap.
In Pebble Beach the relatively poor rich live in densely packed $2 million dollar houses while the rich rich live in $10 to 15 million mansions in the woods overlooking the ocean.
Carmel is running $1.5 to $2 million for a small house but you can get a 50s ranch down by the mission and shopping center for 8 or 900 grand, a relative bargain.
Carmel is nice...but it ain't *that* nice.
[QUOTE="Dave Karoly, post: 421187, member: 94
Carmel is running $1.5 to $2 million for a small house
I just finished up building my small house for 120k.
Man, house prices sure are high out there. I know it is relative, but wow. One of my best friends is building a 3000 sq ft house with some nice, moderate to higher upgrades, and the house and 3 acres of land are going to be $340,000. The lot is $50,000, and the house is $290,000.
Jim Frame, post: 421172, member: 10 wrote: Shacks. Mark Zuckerberg paid $30M for 4 houses around his pied-a-terre so he could control who is neighbors are.
Two years ago I paid $22k for my neighbors house and 1.2 acres for the same reason. It wasn't worth that much but the step son was arrested 4 months later for murder. He hadn't been out of the pen long from a rape conviction. I figure it was a good investment.
James
Jimmy Cleveland, post: 421225, member: 91 wrote: Man, house prices sure are high out there. I know it is relative, but wow. One of my best friends is building a 3000 sq ft house with some nice, moderate to higher upgrades, and the house and 3 acres of land are going to be $340,000. The lot is $50,000, and the house is $290,000.
San Francisco is insanely expensive, even for California. There is no affordable housing left. I don't see how it will be sustainable over the long term because where do the janitors, restaurant staff, letter carriers, plumbers, etc. live? Driving north into the City on 280 there is a van on a pole which for decades was a sign for a plumbing business. It recently changed to an Uber sign, if that isn't a sign of distress I don't know what is.
One reason SF has gone so high is that there's no affordable housing in Silicon Valley and people are now commuting from SF.
The communities north of SF like Sausalito and San Rafael were already expensive 20 years ago (but still not this expensive!). A friend took a job out there (Autodesk) and either never started are quit after a few weeks because he realized he couldn't get reasonable housing anywhere nearby.
Even when communities (Santa Barbara) realize there's a problem and want to build some affordable housing, developers don't want to--not enough profit--and NIMBY is usually very strong.
And in reality, it's more expensive as you go south on the Peninsula. 4/5 most expensive zip codes are South of the City and 7/10 are either Marin, SF or Peninsula. It is outrageous to live here
