real estate market in the bay area

[eatshitndie]

while cycling through the neighborhood every evening, i've been noticing young pregnant tiong women strolling in groups just before sunset. so far i encountered 6 in their trimester. and new preggies from tiongland are showing up. apparently they are using the neighborhood for birthing and a clandestine operation known as "anchor babies."

 

[eatshitndie]

huat ah! the asking price for a 1949 humble 2-unit hovel with not much headroom in san jose has reached the million-dollar mark. it will most likely be sold for 20-30% over asking. each unit has 2 bedrooms and 1 bath. the buyer can stay in one unit and rent out the other, or the buyer can rent both out. within walking distance to japan town.

 

[eatshitndie]

fixer upper in cupertino sold for us$2.26m, close to us$669k over asking.

http://www.siliconbeat.com/2017/07/...estate-homes-routinely-selling-200000-asking/

 

[eatshitndie]

steph curry, nba superstar of the golden state warriors, is selling his mansion in the hills of walnut creek for only us$3.2m asking, after pouring in us$400k worth of upgrades on a previously purchased price of us$3.7m. that's us$4.1m with a us$900k discount. c'mon sinkies. it's worth more than a semi-d in siglap and has better value over the long term, with home prices surging in the bay area. moreover, buyer can boast he buys it from unanimous nba mvp of 2016 and possibly one of the best shooters ever. beautiful mansion in the hilly woods. what are you waiting for?

http://www.cheatsheet.com/money-car...odest-mansion.html/?ref=YF&yptr=yahoo&ref=yfp

 

[indig10]

In case anyone emigrating to SF, Vancouver, Toronto and Montreal are wondering, Chinese buyers and local buyers are fueling in spike in property prices. In Canada, Chinese buyers and local buyers caused the Vancouver property market to overheat, then after foreign buyers tax was imposed, they moved to Toronto. When Toronto imposed it as well, now Montreal is beginning to rise in property prices.

If you intend to buy a property in these cities, be very realistic about the need for enough funds to stand a chance of getting what you want. Otherwise, have some other strategies in place.

 

[eatshitndie]

much of the all-cash buying spree of residential real estate in the bay area by tiongs happen in 2016. as of end of q1 this year after prc clamps down on capital outflow, any real estate transaction that has tiong buyers in line with all-cash or predominantly-cash offers faces a cash dilemma - is majority of cash coming from prc or is 100% of the cash already deposited in u.s. banks? if it's the former, sellers will pass as there have been several cases of tiong buyers not able to fulfill their cash commitments before and during escrow. now, developers of new homes are asking tiong buyers to show proof of u.s. bank accounts with substantial balances before they let them in on the shortlist. even getting ahead in the shortlist is no guarantee of a purchase as financial arm of developer conducts due diligence prior to purchase to ensure funds are reserved in u.s. bank accounts to fulfill cash commitments. this latest moves have eliminated a sizable group of new and fob tiong prospectors in the bay area housing market. they have had not the chance, timing and (underground) channels to spirit their funds out of the prc to the u.s. at the time of clampdown. the shortlist at some desirable new developments on the peninsula suddenly becomes shorter.

 

[eatshitndie]

holy shit! us$782k over asking for this modest home in sunnyvale. asking was us$1.688m and it sold for us$2.4m.

http://www.mercurynews.com/2017/09/...-782000-over-asking-for-a-house-in-sunnyvale/

 

[winnipegjets]

holy shit! us$782k over asking for this modest home in sunnyvale. asking was us$1.688m and it sold for us$2.4m.

http://www.mercurynews.com/2017/09/...-782000-over-asking-for-a-house-in-sunnyvale/

View attachment 31696

It will be a total loss when the Big One comes.

 

[eatshitndie]

It will be a total loss when the Big One comes.

depends. historically it takes 6.9 years to recover to previous high value. and then ratchet further up after that. all single family homes are built with earthquake code to withstand 6.9 on the richter scale. when shit happens it's also an opportune time to go in and buy up properties after 6.9 months of disaster-settling. bought my first after loma prieta quake of 89 and never looked back.

 

[winnipegjets]

depends. historically it takes 6.9 years to recover to previous high value. and then ratchet further up after that. all single family homes are built with earthquake code to withstand 6.9 on the richter scale. when shit happens it's also an opportune time to go in and buy up properties after 6.9 months of disaster-settling. bought my first after loma prieta quake of 89 and never looked back.

The Big One will definitely be higher than your favorite position.

 

[eatshitndie]

The Big One will definitely be higher than your favorite position.

fault lines in california indicate tectonic plates having similar densities and rubbing against each other, thus the biggest quake should be a tad higher than 6.9. 7.3 perhaps. the real big one is in and around the coast of vancouver. it's a subduction zone. it's overdue. expect a 9.6. tiongs and hongkies who bought properties there will kpkb.

 

[eatshitndie]

There are 5 places in the US where you need to make over $110,000 to afford a home

Four of the five most expensive housing markets in the country are in California. In these markets, buyers need to make more than $110,000 to qualify for a mortgage with a 20% down payment. In the San Jose metro area, buyers need to make over $210,000. Several of the priciest housing markets in the country are in the American West. In the third quarter of 2017, the median cost of a single-family home in the region rose to $373,700, up 7% from the previous year and a greater increase than any other region, according to the National Association of Realtors (NAR). By contrast, the current US median home price is $247,000.

http://www.businessinsider.com/us-metros-where-you-need-to-make-over-100000-to-afford-a-home-2017-2

 

[eatshitndie]

There are 5 places in the US where you need to make over $110,000 to afford a home

• Tanza Loudenback

• Dec. 1, 2017, 4:14 PM

• Four of the five most expensive housing markets in the country are in California.
• In these markets, buyers need to make more than $110,000 to qualify for a mortgage with a 20% down payment.
• In the San Jose metro area, buyers need to make over $210,000.

Several of the priciest housing markets in the country are in the American West.

In the third quarter of 2017, the median cost of a single-family home in the region rose to $373,700, up 7% from the previous year and a greater increase than any other region, according to the National Association of Realtors (NAR).

By contrast, the current US median home price is $247,000.

As supply lags behind demand, and prices and mortgage rates continue to rise, homebuyers entering the market may find it increasingly unaffordable to buy a home.

Looking at NAR's data on housing affordability, there are five US metro areas where the minimum salary required to qualify for a mortgage, with 20% down, is above $110,000. NAR assumes a mortgage rate of 3.9% for all areas, with the monthly principle and interest payment limited to 25% of income.

While the salary needed to buy in these areas is exceptional, purchasing a home in a number of markets across the country remains affordable, with required salaries at or below the median household income of $71,775 . The average qualifying income for the US as a whole is $46,435 .

Below, check out how much you need to earn to buy a home, and what the median home will cost you, in the most expensive markets.

The following markets are based on metropolitan statistical areas, with the exception of Anaheim-Santa Ana-Irvine, which is a metropolitan division.

5. San Diego-Carlsbad, California

Sean Pavone/Shutterstock
Population: 3,299,521
Median sale price: $607,000
Salary needed to buy: $110,969

4. Urban Honolulu, Hawaii

Edmund Garman/Flickr
Population: 998,714
Median sale price: $760,200
Salary needed to buy: $138,977
3. Anaheim-Santa Ana-Irvine, California

LagunaticPhoto/Shutterstock
Population: 3,169,776
Median sale price: $790,000
Salary needed to buy: $144,425

2. San Francisco-Oakland-Hayward, California

Benny Marty/Shutterstock
Population: 4,656,132
Median sale price: $900,000
Salary needed to buy: $164,534

1. San Jose-Sunnyvale-Santa Clara, California

Wikimedia Commons
Population: 1,976,836
Median sale price: $1,165,000
Salary needed to buy: $212,981

 

[eatshitndie]

http://www.businessinsider.com/sili...e-location-warrants-a-48-million-price-tag-17

The most expensive home for sale in Silicon Valley is this $48 million estate with a private lake, horse stables, and a walk-in closet larger than most studio apartments

• Melia Robinson

• The Buljan Group
  
  Three out of the five most expensive zip codes in America are located in the tony suburbs of Silicon Valley, where tech moguls pay all cash and bid well above asking price for mansions.
  
  Still, a historic property located down the road from Facebook and Google has some serious sticker shock. 1550 Portola Road in Woodside, California, hit the market for $48 million in July, up almost 700% since the compound last sold at the height of the recession in 2008.
  
  Once belonging to socialite Adelaide Kirkbride, the sprawling circa-1915 home sits on seven acres with a private lake and horse stables. It is currently the priciest listing in Silicon Valley.
  
  We spoke to listing agent Pierre Buljan about what makes this home worth the dough.
  
  Woodside is a semi-rural enclave of Silicon Valley where the technorati, including Steve Jobs, Larry Ellison, and SoftBank's Masayoshi Son, have lived over the years.
  
  
  
  A private road that leads to the Jackling House, a historic mansion once owned by Steve Jobs that has since been bulldozed, is pictured in Woodside, California.Norbert von der Groebenm/Reuters
  For $48 million, you can be neighbors with the most influential people in tech.
  
  
  
  An aerial view of the property at 1550 Portola Road in Woodside, California.The Buljan Group
  The property at 1550 Portola Road — named "Canardia" — once belonged to local socialite Adelade Kirkbride. An unnamed real-estate investor bought it for $6.1 million in 2008.
  
  
  
  The Buljan Group
  The home was not foreclosed on, contrary to past media reports, according to listing agent Pierre Buljan. Multiple families owned the property through a family trust; after several members died, the bank sold it for a bargain price during the housing crisis in 2008.
  
  The French country-inspired estate sits on seven acres of lush landscaping. Massive windows in nearly every room let the natural light soak the hardwood and tile floors.
  
  
  
  The Buljan Group
  The home features five beds and seven and a half baths spread across 6,305 square feet.
  
  
  
  The Buljan Group
  A gourmet chef's kitchen has two seating areas and room to prep a meal for a crowd.
  
  
  
  The Buljan Group
  It's a little gaudy, sure, but a buyer with $48 million to spare can afford the renovations.
  
  
  
  The Buljan Group
  The original owners spared no expense when building their dream home. It has a master bedroom "wing" with vaulted ceilings and French doors leading to a private balcony.
  
  
  
  The Buljan Group
  The master bathroom looks enormous.
  
  
  
  The Buljan Group
  We bet this walk-in closet could fit most San Francisco studios inside.
  
  
  
  The Buljan Group
  Homeowners have the option to take a dip in the swimming pool ...
  
  
  
  The Buljan Group
  ... or slide into the blue-green waters of a private swimmable lake on the property.
  
  
  
  The Buljan Group
  1550 Portola Road has horse stables that can accommodate 14 ponies. Buljan said the stables have not been well maintained, but could be converted into a roomy garage.
  
  
  
  The Buljan Group
  The property would be wasted on someone who doesn't enjoy entertaining. An outdoor kitchen with a communal table and a fire pit makes a gorgeous setting for a party.
  
  
  
  The Buljan Group
  The gardens offer a private place for meditation.
  
  
  
  The Buljan Group
  In spite of its secluded setting, 1550 Portola Road sits in close to proximity to the offices of Google, Facebook, VC firms on the well-known Sand Hill Road, and Stanford University.
  
  
  
  The Buljan Group
  According to Buljan, the location warrants a $48 million price tag.
  
  
  
  The Buljan Group
  The main residence sits in the center of almost eight flat acres, "which is almost non-existent" in the valley, Buljan said. It allows the new owners to double the square footage of the home.
  
  Besides, $48 million might not be all that much a tech billionaire. "Numbers don't really matter to these guys, especially when you sell a company for a billion or more," Buljan said.

 

[Asterix]

There are 5 places in the US where you need to make over $110,000 to afford a home

Four of the five most expensive housing markets in the country are in California. In these markets, buyers need to make more than $110,000 to qualify for a mortgage with a 20% down payment. In the San Jose metro area, buyers need to make over $210,000. Several of the priciest housing markets in the country are in the American West. In the third quarter of 2017, the median cost of a single-family home in the region rose to $373,700, up 7% from the previous year and a greater increase than any other region, according to the National Association of Realtors (NAR). By contrast, the current US median home price is $247,000.

http://www.businessinsider.com/us-metros-where-you-need-to-make-over-100000-to-afford-a-home-2017-2

Hi, u seem to be living in the USA. Any experience with EB-5 visa program? If yes, please reply to my other thread. Thanks!

 

[eatshitndie]

Hi, u seem to be living in the USA. Any experience with EB-5 visa program? If yes, please reply to my other thread. Thanks!

ok, will look out for it and try my best.

 

[winnipegjets]

I can see Pinky living in those expensive houses.

 

[eatshitndie]

I can see Pinky living in those expensive houses.

he and his ho are welcummed neighbors. at least they don’t like firecrackers and they swing a lot.