• There has been a recent cluster of spammers accessing BARFer accounts and posting spam. To safeguard your account, please consider changing your password. It would be even better to take the additional step of enabling 2 Factor Authentication (2FA) on your BARF account. Read more here.

Rent Dropping

A friend just bought a townhouse on the outskirts of Vancouver. A 2 year old development still under expansion.

He bought the smallest floorplan
2014 $370K
2015 $450K
2016 $630K what he paid

The largest floorplan
2014 $520K
2015 $560K
2016 $845K selling price of last unit in current phase of construction

Don't know what was driving prices the past 12 months but I think its fizzled.
 
Blankpage said:
Toxic fumes and stay inside warnings?
Click to expand...

Well that clarifies it.. err... ahem.

People have to live somewhere though.

as for the rent, well , if you read the article and see that the rent may be dropping from $3900 to $3700,.. well sure, yeah, maybe. It's kind of obvious that at some point *whoever* can pay this .. those are a finite number.
 
The exorbitant RE prices is why I could never afford to come back to Bay Area :( How about land somewhere on the Peninsula?
 
I was considering returning to the BA this fall. If I don't I might not get the chance again soon. But those rental rates are retarded. My offer wasn't much better than last time I lived in the area during a more reasonable cost of living period.
 
Blankpage said:
I was considering returning to the BA this fall. If I don't I might not get the chance again soon. But those rental rates are retarded. My offer wasn't much better than last time I lived in the area during a more reasonable cost of living period.
Click to expand...

I could've gotten a small place during the last bubble burst but was young and stupid :(
 
It is easy to leave California. It is very difficult to come back.

You need money to come back to the sunshine state.
 
Blankpage said:
Toxic fumes and stay inside warnings?
Click to expand...

I live on the Pleasant Hill side (close to Hidden Valley Elementary) so we very rarely smell the refineries here.

When I lived in Clyde, there'd be days when we couldn't have the windows open in the house because the smell was so bad. We also wouldn't go outside much then since you could just tell it was bad for you.
 
Rents are definitely dipping. Apparently already down 10% in South Bay and SF. Oakland has also dipped. The prices are simply beyond affordability for most people.

I don't think the farther east bay (like Martinez, Pleasant Hill, Concord) has been run up nearly as much by Chinese speculation and technology yuppies.
 
Strigoi said:
I live on the Pleasant Hill side (close to Hidden Valley Elementary) so we very rarely smell the refineries here.
Click to expand...

Hey, don't bust people's preconceptions. Wouldn't want them to actually understand that you can essentially live in Pleasant Hill at a 25% discount!

My ex lives in our home near Hidden Lakes and I think it's market value is probably close to 800k right now. The prevailing winds (usually from 180 based on the runway most often in use at KCCR) means that any fumes will usually head to Benicia or Suisun Bay.
 
Last edited:
mercurial said:
Hey, don't bust people's preconceptions. Wouldn't want them to actually understand that you can essentially live in Pleasant Hill at a 25% discount!

My ex lives in our home near Hidden Lakes and I think it's market value is probably close to 800k right now.
Click to expand...

When you tell people Martinez they always seem to think of the downtown area and older houses. This area is where it's at. It's close to shit, quiet and I have no complaints about any of the people that live on my street (except for Mo, he's the neighborhood busy body but fully leaves us alone for whatever reason). They also put up with our noisy shenanigans every once in awhile. None of the neighbors balk at wheelies being done up and down the street. I love it here.
 
Last edited:
Strigoi said:
I live on the Pleasant Hill side (close to Hidden Valley Elementary) so we very rarely smell the refineries here.

When I lived in Clyde, there'd be days when we couldn't have the windows open in the house because the smell was so bad. We also wouldn't go outside much then since you could just tell it was bad for you.
Click to expand...

I worked in Martinez for a few years. The talk of hazard days was greatly overblown but seemed everyone just over the hill in PH and Concord thought Martinez was a hazardous wasteland.

Plus side to Martinez dt area being maybe 5-10 degrees cooler than WC or PH.



;
 
Last edited:
To be fair it does smell like ass most of the time when you're on 680 heading towards the bridge. I'm sure that's why a lot of people feel that way.
 
Strigoi said:
To be fair it does smell like ass most of the time when you're on 680 heading towards the bridge. I'm sure that's why a lot of people feel that way.
Click to expand...

:laughing truth

My sis in law lives in Martinez, it's honestly a nice enough suburban town I suppose. Looks like every other suburb in that area. Probably a few less low life's now with how expensive everything is I'm guessing most of them got pushed a bit further down 4.
 
Strigoi said:
To be fair it does smell like ass most of the time when you're on 680 heading towards the bridge. I'm sure that's why a lot of people feel that way.
Click to expand...

The refinery on the edge of town and right by 680 is a total image killer, for sure.

It's also unfortunate that downtown Martinez is basically dominated by County services (mostly the presence of the Court.) It's got a lovely, quite idyllic layout but most of the shops are junky low-rent antique shops that seem designed to entertain bored people who were called for jury service, lots of lawyer offices, bondsmen, etc. They also interspersed a lot of section 8'ish looking housing that seems to house alot of toothless meth-heads who need to be closely supervised by their POs.
 
Last edited:
HappyHighwayman said:
It's a good thing when rents go down, right?
Click to expand...

As a simpleton, I would ask this same question.

I mean, I think its a good thing... for the renters.

My assumption is ... while not a good thing for the landlords... at least the landlords are still making ludicrous cash. Just... less ludicrous cash.
 
HappyHighwayman said:
I paid $763k in 2012 and they're selling for $1.2M now.
Click to expand...

I paid $375k 5 years ago and was offered $650K last week. I'm getting ready to sell within in 6 months. GF plans to move in, save and pay student loans. Not sure where we'll move, I need a 3 car garage or at least a 2 car with big side yard.

A and B property locations wont see reductions in rent for a bit. C locations are areas like Pittsburg etc.

It's odd time right now. Read statistically laden article saying homes in the Bay Area will continue to rise 3-7% until 2019. I have noticed lots of million dollar homes sitting on the market longer and slowly dropping in price, one house lowered it's price $200k and has been on the market about 60 days.

I think it's a matter of demand is there but homeowners are throwing prices on the wall to see if they can get lucky. I checked out some open houses in Danville, San Ramon sunday all $950K-$1.1mil. All had issues.
 
You must log in or register to reply here.
Back
Top