Hey everyone-

I am looking into the possibility of moving to the Bay area within the next 2 years. I am graduating from Grad school with my Masters in Accounting. There are apparently quite a few firms in San Francisco. My father owns a home in Grass Valley (just north of Auburn, CA on 49). That is WAY to far to commute everyday. I just have a few questions about the area and housing.

I am interesting in owning, not renting (renting will be last option). Are there any areas within 30-40 miles of the city that are decently priced? I am looking around $250-350k. What neighborhoods are the "good" and "bad" areas of town. I was looking at the Haight-Ashbury side of town this weekend (I am kind of a Hippie). I want an area where my car will not get thrashed if parked on the street. I was looking at a few homes that were for sale (little 2-3 storey things with a 1-car garage under). I am not sure if these are out of my price range. What are the pricey areas to not waste my time looking in? What areas are decent (crime, gangs, etc.) areas?

Any input would be great. I am looking forward to getting outta the "Bible Belt" that is North Florida and into the Cali sun.

Thanks

John

 

The climate in SF is far from "California Sun", its usually foggy and cold, drive an hour any direction except for west and you will find better weather.

As far as your housing pricing what are you looking for, number of rooms, sq ft, land, suburban, metro?

I don't know of any place except for the central valley that has homes in that price range. I'm in Hollister 95023 (boonies about 30 minutes east of Monterey) 6 acres, 3386sq ft, 4 car garage,...appraised at 1.2m (I purchased it 5 years ago for 550K). Most homes in SF are very small, old, no garages and easily over 1m.

Congrats on your degree ( whats your focus?),.. if you have enough experience you can make quite a bit of money your gong to need it to stay in Cali

If you lucky, the housing market will bust before you ready to purchase a house providing better opportunities. I don't understand how young people are affording homes at these rates

D

 

If you move to the East Bay, you can take BART to SF in 44 min. Where I am, a 2 bedroom 1 car garage townhouse will run you about $500,000. If things work out, that will be more like $650K-$700K in 2 years when you plan to move...

 

you will not find a house for 250k to 350k no in the silicon vallery area...I've seen a small house 2bedroom 1bath out in Mantica area go for 300k but thats waaaayyyyyyyyyyyyyyyyyyyyy out in the boonies

 

Some guy was shot and killed there just last week.



[QUOTE=jwa4378,Jun 25 2005, 10:10 PM]I want an area where my car will not get thrashed if parked on the street.

 

From what I have heard, there is a new way to purchase a home. I dont remember the name of it (maybe shared ownership) but it goes like this;
Most of the home in SF are two story buildings. Some one buys the top floor, another buys the bottom floor. Shared common work around the home.
I rent in SF. My one bedroom is 1240 per month with utilities and cable. Good Luck

 

2bd/2ba townhouse 1240 sq feet about $400K in my area
positives: attached 2 car garage
negatives: can only fit 1 car on the driveway, bending over for HOA dues

 

Thanks for the input. I didnt know that Haight-Ashbury was such a rough neighborhood....hmmm...

I figure if I HAVE to rent, I can afford around $2500 / month (my fiance' is going to be graduating about the same time as me with her Masters in Literary Editing). There was an apartment for rent (I am assuming 1 bedroom or studio) on Lombard (on the way up the hill....not on the crooked part) and they wanted $2400 / month.

Does anyone know if landlords do any "rent-to-own" leases? These are big in FL. Apparently when you pay rent, that money totals up. After the lease runs up, or after a specified period of time, the landlord will let you purchase the house for Fair Market Value - what you have already paid + interest accrued.

With regards to the experience part, I will have around 2 years of experience, but I have connections with KPMG (I know the head recruiter for the NYC office), and she told me to just give her a call and I could work at any branch and start at around 60-70k / year (not including annual bonuses).

Thanks for the input.....If things are still crazy in 2 years, I may just look into Sacramento area and buy my father's house off of him.

Thanks a lot.

John

 

rent to own? nope

if your gonna buy anything you should do it now...Sacramento's housing has been going up also. in two years you'll probably be looking at 400 to 500k at least in sacramento

 

I haven't heard of the rent to own lease but I bet it's less of a discount than the landlord would pay for a realtor to put the house on the market... You could do just as well to buy a For Sale By Owner. My friend lives in an apartment that's owned by Kaufman Broad(builder) and he can apply his past rent towards a new KB house but, there aren't many new houses going up in this area by KB... Meanwhile he's still a renter and not an owner....

I don't know if you've been to Sac but it's sure not for me. Too hot and isolated and too many Hummers!

And if you can afford $2,500/month, you should be able too buy something in the bay area. Probably just not IN SF.