Property Prices in Northern California?

Question

I am just curious about current property prices in northern CA. I was born in raised in the bay area and am looking to move back very soon. I am a young professional who makes a decent income on the east coast, so it will only increase with the economy of the west coast. I am just curious what the average cost of a 2 bedroom/2 bathroom home or townhouse with a small yard and parking (preferably a garage) runs in the bay area nowadays. I know the cost of living is high in SF, and although I would love to live in the city, I am not objectable to surrounding suburbs (as I used to live in the east bay and also love the area). Thanks for your input and information in advance.

What are the areas that you are speaking of that are $500-750?

Answer 1

Pretty much $500,000 and up is a good bet... most homes around here are in the $750,000 and up range... depends on where you choose to live, and how far you're willing to commute.

Its pretty tough out here home wise...

-dh

Answer 2

Prices are inflated and beginning to fall. If you're staying for a LONG time, you probably won't lose. But if you're in for a short time (under 10 years), prices are likely to fall.

If you're making enough money, try to get a FIXED 30 year loan. Don't mess with the ARM's and Interest Only loans.

Prices are in the mid-700's for something decent in a decent area. That's going to give you a huge monthly payment, again unless you fall for the ARM or IO traps. Getting into the market in the Bay area now is tricky, regardless of what the Realtwhores say.

Answer 3

REALTOR.COM should give you a good estimate of the prices in the area you want to live. Get in contact with a good REALTOR and he/she should start sending you updates daily with properties that may suit your needs. Good luck.

Answer 4

Santa Cruz was always quite a bit cheaper, but it's about thirty minutes from San Jose.