:whocares:

When you are buying a home, yo are converting one type of assets (cash) to another (real estate). The limiting factor is how large of a monthly mortgage payment you are willing to deal with, real estate taxes, etc.

Living in an area which has a high cost of living (and being compensated for it) has its advantages. Material goods still cost the same no matter which part of the country your in. So a 30K car "feels" cheaper if you live in the bay area vs. texas.

Personally, I'd rather live in an area which has a higher cost of living, assuming I was compensated for it.

 

There's a reason why you can buy a 3000-sq-ft home with a pool and all the goodies for 500K. You don't get much in the Bay Area but yor house increases in value more than 15% per year. That doesn't happen where you live.

 

My best friend is a broker out of San Mateo and she will take care of you. Tell her Kiwi from Seattle sent you and she will know.

At least call her and find out what she can do for you.

Evie (650) 722 3238

 

Why are you so sure, did you research it? I just got my new tax assessment in the mail last week-it's done every three years here. Mine went up $110,000 in three years and this is fookin Kentucky, even I don't want to live here very much.

 

If you have a friend that's a real estate agent, check out what commissions they get paid by new home builders. I know for a fact that Dr. Horton homes gives an 8% commission while most others do like 3%. Get the agent to give you some money back toward the closing costs or price reduction of the house and you can make a killing. I bought my new house a little while back and paid $0 out of pocket and actually made $1K plus my house has gone up like $60K from the price I got it at.

 

Bay Area median house prices soared $106,000 in ONE year. March 2004-2005. That's a 21% gain. Ridiculous. I'm glad I get in when i did.


http://sfgate.com/cgi-bin/article.cg...NG29C9D8D1.DTL

 

I don't need to research it. The amount your house increased in THREE years is the average increase in ONE year in the Bay Area. Unless you live in a REALLY hot housing market, it's no comparison to the Bay Area.

 

There was a local newspaper article this week. They said 60% of new mortgages in the yay area are interest only.