Bought a home, finally

[haha]

I think he said he's on the Peninsula... There are places around half a million to 750k there. Not many, though! It's crazy here in the Bay Area.

Nothing with the urban location and amenities that Rich mentioned. And I would surely hate to see the monthly dues!

Ha

 

[Accidental Retiree]

...San Mateo, CA 94402 (Downtown)
2 bed / 2 bath 1,377 sqft Condo

Just sold for $742,500 on 3/13/13.

There is another one that sold more recently for about 850k.
Close enough to a million to be out of my price range, but it sounds
like a wonderful place to live!

And that was 2 months ago, so prices may be higher now, if anything
were available...

 

[W2R]

I agree - - housing prices out there are simply out of sight compared with those in many southern states. In part they are paying for location, and I would imagine that they don't have to be concerned about hurricanes like those that occasionally affect us here in New Orleans. Plus, they can do their walking outside instead of inside during the summertime, something that only the hardy do here. And in their case, they will be near to grandchildren which in itself is a priceless amenity.

Still, I would imagine that there is a lot of sticker-shock involved when buying real estate in San Mateo. Then again, what is money for? If this purchase makes them happy then it is a good deal, IMO.

 

[Rich_by_the_Bay]

I think he said he's on the Peninsula.... There are places around half a million to 750k there. Not many, though! It's crazy here in the Bay Area.

Something like that, generally. I look at it (as if I had a choice) as a holding tank for the eventual estate. We haven't closed yet - waiting out our 6 month lease.

The area does have its appeal.

 

[Bestwifeever]

I look at it (as if I had a choice) as a holding tank for the eventual estate.

It's just the real estate portion of your AA. And your just desserts from a lifetime of caring for others.

 

[FIREd]

I agree - - housing prices out there are simply out of sight compared with those in many southern states.

No kidding. I've been casually looking for a home in that area myself and prices are unbelievable. I already have a third of my assets invested in real estate so I can't see myself dumping a lot of money on a new place any time soon - unless I sell something else.

 

[MBAustin]

Sounds great, Rich! Keep us posted on how you adjust to the new place for the benefit of us folks who aren't at that point yet but may be in the future. Hope the transition goes smoothly for all.

 

[Live And Learn]

Congratulations Rich. Tell your DW that I feel her (downsizing) pain but that I know that we both know its the right thing to do and that we will love the freedom we get from the reduced housework ! Your building sounds fantastic and I wish you only happiness and joy.

 

[grasshopper]

Ms G and I were in Napa Valley 2 weeks ago. I never thought I would say this, because I love the desert mountains, but I could live there. I lived on the peninsula for 4 years going to school, Half Moon Bay, and Pacifica.

 

[oldtrig]

Rich by the Bay, how are you adjusting to the weather compared to Florida? I have a good friend I finished HS with that lives in Half Moon Bay and she said it is wonderful. She tells me they do not even run the AC. I would love to find a place in the US that is like that. Here in the deep south it is hot and humid. I would have to hit the lottery to be able to move there but maybe I will. Good luck. Enjoy those Grandchildren. oldtrig

 

[Rich_by_the_Bay]

Rich by the Bay, how are you adjusting to the weather compared to Florida? I have a good friend I finished HS with that lives in Half Moon Bay and she said it is wonderful. She tells me they do not even run the AC. I would love to find a place in the US that is like that. Here in the deep south it is hot and humid. I would have to hit the lottery to be able to move there but maybe I will. Good luck. Enjoy those Grandchildren. oldtrig

Few folks here have AC but you see it more in the lower peninsula (Palo alto down to San Jose). Nights virtually always cool down by 7pm or so. We've seen nothing but blue skies and highs mostly in the 70s. Maybe some of the more senior members from the area will chime in.

I can say that we've been here 4 months and it has been delightful.

 

[Dreamer]

Congrats! It sounds wonderful. Location, location, location. It is great being in walking distance to so many places, perfect weather and to have your family so close by. So happy for you.

 

[LoneAspen]

Congrats, Rich! Glad to hear everything's going well.

I rent down in San Jose, but have no desire to stay here long term. It's just a place to hang my hat while I work in Silicon Valley.

If this company I'm at "makes it" in a couple years, I thought I might head to San Francisco, or maybe east bay like Orinda, Lafayette, or Moraga. I'm far more partial to SFH than shared walls of any kind, so east bay is probably better suited for me.

However, it looks like with the crazy real estate market now in the Bay Area, I will be priced out of anything I'd want a couple years from now. What might cost $800k - $1m today will probably cost half again as much two years from now, and I couldn't afford it (nor would I pay that kind of premium anyway).

Not sure what I'll do in that case. I thought about going back to Colorado just for a year or two, but not permanently. That might change if prices go nuts here and price me out of the market. I refuse to have to hold down another rat-race 9-to-5 cube job doing IT work just to make enough money to afford an (overpriced, to me) home. I'd rather take my little bag of money and go back someplace I can get something decent and still do my own thing.

Time will tell, I suppose. It always does.