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Thread: Dykes' home sells!

  1. #16
    Quote Originally Posted by Big C_Cal View Post
    If I were Wilcox (single guy), I think I'd rent a very nice condo in Oakland or Berkeley
    And chuck $60K a year into the toilet? Why? The Bay Area housing market has been pretty close to a sure thing for a long time. Yeah, it can go down short term. If that happens, rent it out until the market climbs again. I took a bath on my current house short term and now I'm swimming in equity. As a single guy, he can get a nice smaller house or nice condo and not over extend himself so that he has to sell to move if things don't work out. To me it seems crazy to take a sure loss (rent) over a likely gain when you should have enough money that you can hold on through any potential short term loss.

  2. #17
    True Blue Golden Bear okaydo's Avatar
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    Quote Originally Posted by socaliganbear View Post
    I'd buy a house in the Berkeley Hills with a killer bay (and stadium) view.

    Or something like this: http://www.realtor.com/realestateand...4-98657#photo0
    I'll go with El Cerrito. It's close to campus and you get nice views and it's cheap.


    BTW: Why is El Cerrito so cheap? It's a really nice city to live in.


  3. #18
    Quote Originally Posted by okaydo View Post
    I'll go with El Cerrito. It's close to campus and you get nice views and it's cheap.


    BTW: Why is El Cerrito so cheap? It's a really nice city to live in.

    1. Schools suck.
    2. The hills are great. Much of the rest (which is much of it) is okay and some of it run down. Closer to Richmond the worse it is.
    3. Albany and Berkeley on one side are nicer with better schools. Richmond on the other side is bad enough that people want to avoid being near it like the plague.

    That said, you are right that there are some really nice houses that are a bargain there. I would think near the golf course could be a great retirement house.

  4. #19
    True Blue Golden Bear okaydo's Avatar
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    Quote Originally Posted by OaktownBear View Post
    1. Schools suck.
    2. The hills are great. Much of the rest (which is much of it) is okay and some of it run down. Closer to Richmond the worse it is.
    3. Albany and Berkeley on one side are nicer with better schools. Richmond on the other side is bad enough that people want to avoid being near it like the plague.

    That said, you are right that there are some really nice houses that are a bargain there. I would think near the golf course could be a great retirement house.
    Yeah, but Piedmont is really close to Oakland...(but I guess they have cameras patrolling who comes in and out, so it's safer).

    I ended up in El Cerrito as a Cal student because of the late '90s student housing crisis.

    I lived next to Albany Hill, 2 blocks from El Cerrito Plaza (it was renovated during my time there) and a couple blocks from Pacific East Mall.

    It was pretty nice. I'd jog through the hills through Solano. The area was absolutely beautiful. There were dear! Dear!

    And I was really close by Point Isabel and the Bay Trail, which is absolutely breathtaking and -- most importantly -- devoid of people.

    (Although when I went back a few years ago, after living in Oakland for a long time, it felt too suburban to me.)

    Last edited by okaydo; 03-17-2017 at 11:34 AM.

  5. #20
    But Piedmont is is really close to wealthy Oakland. Maybe the difference is imaginary, but I get it. Hell, Dykes' mini mansion is right on the Piedmont-Oakland border, and he had no trouble selling over ask.
    Last edited by socaliganbear; 03-17-2017 at 11:57 AM.

  6. #21
    True Blue Golden Bear okaydo's Avatar
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    Quote Originally Posted by socaliganbear View Post
    But Piedmont is is really close to wealthy Oakland. Maybe the difference is imaginary, but I get it. Hell, Dykes' mini mansion is right on the Piedmont-Oakland border, and he has no trouble selling over ask.
    Yeah, but (rich) El Cerrito is really close to Kensington and Albany and Berkeley's Solano neighborhood.

  7. #22
    True Blue Golden Bear NYCGOBEARS's Avatar
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    What's Montclair like these days?

  8. #23
    Quote Originally Posted by okaydo View Post
    Yeah, but (rich) El Cerrito is really close to Kensington and Albany and Berkeley's Solano neighborhood.
    Which is kind of the point though, right? In Piedmont, the surrounding "nice" neighborhoods are still not as nice as yours, though still great.

  9. #24
    Quote Originally Posted by OaktownBear View Post
    And chuck $60K a year into the toilet? Why? The Bay Area housing market has been pretty close to a sure thing for a long time. Yeah, it can go down short term. If that happens, rent it out until the market climbs again. I took a bath on my current house short term and now I'm swimming in equity. As a single guy, he can get a nice smaller house or nice condo and not over extend himself so that he has to sell to move if things don't work out. To me it seems crazy to take a sure loss (rent) over a likely gain when you should have enough money that you can hold on through any potential short term loss.
    You make a good point. My thinking was, maybe real estate is headed for a fall, renting would be no-muss/no-fuss, and the $60K/yr would be a drop in the bucket. You're probably right that, except for dips, real estate here will only be going up, long term. I just can't wrap my head around these prices.

  10. #25
    Quote Originally Posted by NYCGOBEARS View Post
    What's Montclair like these days?
    Nice and expensive.

    Maybe five years ago, there were issues about public services. Stories of people coming home, seeing their home had been broken into, calling the cops and not getting a response for hours. So it wasn't only the schools issue, which isn't even really an issue. Now, with the economy booming, you don't hear stuff like that lately. (I wish I had bought something in Oakland, 5-8 yrs ago!)

    The elementary schools are good. Skyline HS is pretty good (but lots of Montclair folks go private). I'm starting to digress here, but Oakland Tech is getting a pretty decent reputation these days, relatively speaking.
    Last edited by Big C_Cal; 03-17-2017 at 12:12 PM.

  11. #26
    Quote Originally Posted by NYCGOBEARS View Post
    What's Montclair like these days?
    Get in now before Google open up a tower downtown.

  12. #27
    True Blue Golden Bear NYCGOBEARS's Avatar
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    Quote Originally Posted by socaliganbear View Post
    Get in now before Google open up a tower downtown.
    I had an opportunity to buy a house there 10 years ago. Woulda coulda shoulda.

  13. #28
    Quote Originally Posted by Big C_Cal View Post
    You make a good point. My thinking was, maybe real estate is headed for a fall, renting would be no-muss/no-fuss, and the $60K/yr would be a drop in the bucket. You're probably right that, except for dips, real estate here will only be going up, long term. I just can't wrap my head around these prices.
    When I look at real estate, I also consider wage increase. Even in a small area like the Bay Area, real estate cannot go up much faster than wages/compensation increases without the base support collapsing. I think in CA, real estate and equity are both excellent investments. It is obviously much harder to diversify with real estate, you need much larger capital, the investment is less liquid, and you need to rent it out (unless you are just looking to flip) and, therefore, you need to find a good property manager. Sometimes, commercial real estate is more convenient because of triple net lease, but most homes don't have significant maintenance cost either. Other than my home, I started in the stock market first when I didn't have as much capital and wasn't sure about liquidity needs, and didn't get into real estate investments until much later. It helps me diversify and I pay a bit more in expenses so that I really take no role in managing the property. Renting is not free but neither is owning a home (although there are great tax benefits, you would still pay interest, property tax, etc. that you wouldn't pay as a tenant). The question really comes down to how much capital do you have to invest and do you have a better investment than real estate. Generally, if it is your primary home, the tax benefits (including avoiding up to $500K in capital gain) makes it a no-brainer, but it depends on what investment opportunity you have. Other than the properties where we spend time, I only invest in real estate to diversify, but it would be difficult to diversify if you only invested in real estate. So depending on where you are and how much liquidity you need, other investments can be better than real estate.

  14. #29
    True Blue Golden Bear going4roses's Avatar
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    Quote Originally Posted by OaktownBear View Post
    Standard Operating Procedure in the east bay. Two Sunday open houses. Take bids the following Tuesday. Done by Wednesday.
    Yep that is exactly how it's going down.

  15. #30
    Quote Originally Posted by socaliganbear View Post
    I'd buy a house in the Berkeley Hills with a killer bay (and stadium) view.

    Or something like this: http://www.realtor.com/realestateand...4-98657#photo0
    I know that builder....



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