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[OM] Re: OT home prices was Re: Re: An Image from the Archives

Subject: [OM] Re: OT home prices was Re: Re: An Image from the Archives
From: Philippe Le Zuikomane <zuikomane@xxxxxxxxxxxxx>
Date: Wed, 16 Feb 2005 19:35:23 -0600
It buys Palo Alto. My wife used to live on Ramona St. ;-) -- Phil

On 11:35 PM, Jeff Keller wrote:

>
>Ummm ... there's not too many places that you could find a 7000
>sq.ft. lot on the S.F. peninsula for $225k. As a point of reference
>for the McMansion craze, a nice 18,000+ sq. ft. lot with a 3
>bedroom, 2 bath home, in a nice part of Palo Alto sold for $5M last
>year. Perhaps the existing home is going to be bulldozed, the lot
>subdivided, then two homes built, but it is perhaps more likely that
>someone was wanting to build the largest house allowed by the city
>zoning - 6,000 sq.ft which can only be built on a lot of at least
>18,000 sq.ft. So for about $7M someone may end up with the largest
>new house in town. (some of the older homes may be larger)
>
>Thirty year old condos sell for $400K, new luxury condos (1300 sq
>ft) sell for about $1M.
>
>Another little tidbit of info is that local contractors bid the
>price of new construction starting at $300 sq.ft with $600 not all
>that unusual. The ball park estimate for a bathroom remodel is $20K.
>Needless to say a lot of people find it worth while to do their own
>remodeling.
>
>The money may look the same but it sure doesn't buy the same amount
>as elsewhere.
>
>-jeff (who cut a hole in his wall in November to install a heater -
>and is still working on it)
>
>----- Original Message ----- From: "Jim Brokaw" <jbrokaw@xxxxxxxx>
>
>
>> In the Bay Area that place is $225 'starter home' and you're
>> promised that in a couple years you will be able to sell out for
>> $300K and 'move on up...'
>>
>> Of course, if it were in Silicon Valley, it would be a teardown
>> for a 5500 square foot mini-mansion on a 7000 square foot lot...
>> pretty much walls at the minimum setback on all four sides. -- 
>>
>> Jim Brokaw OM-'s of all sorts, and no OM-oney...
>>
>> on 2/15/05 7:36 PM, Richard Lovison at sylv4700@xxxxxxxxx wrote:
>>
>>> Now there's a place that if found in the Berkshires, would be
>>> advertised as a handyman special with potential for only
>>> $180,000.  :) Nice shot, looking forward to the others.
>>>
>>> Richard
>
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