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rental market cooling down?


By raindoctor   Follow   Fri, 1 Feb 2013, 3:14am PST   1,966 views   17 comments
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I live in a large 500 sq ft studio in Mountain View, near villa and mariposa. I moved in there around May 2011, paying $1100 per month. No rent increase since then. The property is not managed by a corporate.

Recently, the landlord is trying to rent a similar studio next to me for $1400. No takers, so far. What happened to all tech workers, startups, etc?

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raindoctor   Fri, 1 Feb 2013, 3:40am PST   Share   Quote   Permalink   Like   Dislike     Comment 1

There was a brand new single home for rental. 2500 sq ft, 3/3.5
Address: 679 Chiquita Ave, Mountain View, 94041

Guess the rent? $4300, of course!! That craigslist posting has expired.

That area does not have a good school district either.

varmint   Fri, 1 Feb 2013, 12:29pm PST   Share   Quote   Permalink   Like   Dislike     Comment 2

might be the season. Rents were higher in the spring/summer than the fall in my area

swebb   Fri, 1 Feb 2013, 1:05pm PST   Share   Quote   Permalink   Like   Dislike     Comment 3

Rents in Denver are not cooling down. Vacancy rates in central Denver are under 3% I believe (and maybe closer to 2%). Rental prices are going up, not much available to rent, and I don't think there is much new multi family construction coming on line in the near term.

E-man   Fri, 1 Feb 2013, 5:09pm PST   Share   Quote   Permalink   Like   Dislike     Comment 4

swebb says

Rents in Denver are not cooling down. Vacancy rates in central Denver are under 3% I believe (and maybe closer to 2%). Rental prices are going up, not much available to rent, and I don't think there is much new multi family construction coming on line in the near term.

When vacancy is below 5%, it's basically at full capacity. It makes sense that rent is still hot in your neck of the woods.

E-man   Fri, 1 Feb 2013, 5:14pm PST   Share   Quote   Permalink   Like   Dislike     Comment 5

raindoctor says

There was a brand new single home for rental. 2500 sq ft, 3/3.5

Address: 679 Chiquita Ave, Mountain View, 94041

Guess the rent? $4300, of course!! That craigslist posting has expired.

That area does not have a good school district either.

Several months ago, I almost went to the auction to bid on a house on this street, but it got postponed. This house has a deep lot. Its rear lot extends onto the back street. County records have it as one 10,000 sq.ft. lot. A through search revealed that it is two 5,000 sq.ft. lots (front and back). There were two separate grant deeds. The owner bought a house first, and years later bought the empty lot in the back. Not sure if it ever sold. I stopped keeping track of it. So whoever bought it under the impression that it was a 10k lot might have overpaid for it. That's the risk of buying at the steps.

Mick Russom   Fri, 1 Feb 2013, 8:35pm PST   Share   Quote   Permalink   Like (1)   Dislike (2)     Comment 6

robertoaribas says

I was in palo alto last week, very lovely... remind me to move there, NEVER!

Dont worry, you don't have the wherewithal to succeed here. You couldn't possibly move here.

inflection point   Sat, 2 Feb 2013, 9:26am PST   Share   Quote   Permalink   Like   Dislike     Comment 7

There are significantly more rental options on the market this year than one year ago.

New Renter   Sat, 2 Feb 2013, 12:29pm PST   Share   Quote   Permalink   Like   Dislike     Comment 8

inflection point says

There are significantly more rental options on the market this year than one year ago.

Its still early - wait until March/April

New Renter   Sat, 2 Feb 2013, 12:31pm PST   Share   Quote   Permalink   Like   Dislike     Comment 9

robertoaribas says

$1100 for 500 square feet? good grief, I rent 4 bedroom homes with 2 car garages for that!!!

In fact, my mortgage on 2300 square feet, 2 car garage, pool, in a very nice part of Scottsdale is only $1170...

I was in palo alto last week, very lovely... remind me to move there, NEVER!

Are you sure you're not confusing PA with East PA?

New Renter   Sat, 2 Feb 2013, 12:54pm PST   Share   Quote   Permalink   Like   Dislike     Comment 10

robertoaribas says

New Renter says

Are you sure you're not confusing PA with East PA?

No idea... i was a short walk from Stanford.

Well if you didn't pass the IKEA and you weren't shot at you were probably in PA.

What about PA didn't impress you - the horrible value of the properties as homes to live in, the snobbishness of the residents or the way its designed to make car travel as much of a PITA as possible?

New Renter   Sun, 3 Feb 2013, 1:13pm PST   Share   Quote   Permalink   Like   Dislike     Comment 11

robertoaribas says

New Renter says

What about PA didn't impress you - the horrible value of the properties as homes to live in, the snobbishness of the residents or the way its designed to make car travel as much of a PITA as possible?

Stanford was beautiful, i especially loved the long walking path in the hills. Lots of people on bikes, i loved that! here, I'm the only non kid on a bike usually.

traffic was actually shockingly courteous to pedestrians and bikers alike... people were friendly everywhere! Good thai food, nice coffee shops... smart people to talk too (something az lacks in general...you have to go looking!)

It was all great, until I turned on the zillow app on my phone, and looked at housing prices on some of the dinkies 80 year old homes I've ever seen. Holy tomatoes!!! and rent was astronomical too!

Yep, welcome to the SFBA.

New Renter   Mon, 4 Feb 2013, 1:00pm PST   Share   Quote   Permalink   Like   Dislike     Comment 12

robertoaribas says

New Renter says

What about PA didn't impress you - the horrible value of the properties as homes to live in, the snobbishness of the residents or the way its designed to make car travel as much of a PITA as possible?

Stanford was beautiful, i especially loved the long walking path in the hills. Lots of people on bikes, i loved that! here, I'm the only non kid on a bike usually.

traffic was actually shockingly courteous to pedestrians and bikers alike... people were friendly everywhere! Good thai food, nice coffee shops... smart people to talk too (something az lacks in general...you have to go looking!)

It was all great, until I turned on the zillow app on my phone, and looked at housing prices on some of the dinkies 80 year old homes I've ever seen. Holy tomatoes!!! and rent was astronomical too!

You might like Livermore. The summer weather is hot by SFBA standards but someone from Phoenix would likely find it downright chilly. If not there is easy access to cooler areas on hot days. Home prices are much more reasonable, many excellent wineries, nice downtown area, and access to freeways/BART/ACE train to get around. I can't speak to the biking opportunities but the Lake Del Valle rec area looked to offer some.

Land a job at PGE's training center or LLNL and you're good to go.

New Renter   Tue, 5 Feb 2013, 11:14am PST   Share   Quote   Permalink   Like   Dislike     Comment 13

robertoaribas says

actually know the area, from a few visits a while back. I'll tell you the two areas I like the best in California:

Davis. Really nice, easy town to live in. You can rollerblade everywhere, I was there for 2 years and loved it... (a tad hot in the summer, but nothing compared to Phoenix, and Tahoe is what, 1.5 hour drive?

Chico: that town is just plain fun... I suppose I'm too old to duplicate the exact fun I had there back then, but it sure was a nice place!

I was going to suggest Davis but I figured it was too far out of the SFBA to be pertinent to this discussion. I was also there for a few years. It was OK then but it has since grown a lot making it better now.

bmwman91   Tue, 5 Feb 2013, 11:45am PST   Share   Quote   Permalink   Like   Dislike     Comment 14

Davis is pretty awesome. Bike capital of the nation, I believe.

Chico...DEFINITELY fun if you are in your early 20's! Or have a pot farming operation.

JodyChunder   Tue, 5 Feb 2013, 12:22pm PST   Share   Quote   Permalink   Like   Dislike     Comment 15

bmwman91 says

Davis is pretty awesome. Bike capital of the nation, I believe.

Chico...DEFINITELY fun if you are in your early 20's! Or have a pot farming operation.

No mention of Adelanto? Apple Valley? Buncha soft city shits!

New Renter   Tue, 5 Feb 2013, 2:51pm PST   Share   Quote   Permalink   Like   Dislike     Comment 16

JodyChunder says

bmwman91 says

Davis is pretty awesome. Bike capital of the nation, I believe.

Chico...DEFINITELY fun if you are in your early 20's! Or have a pot farming operation.

No mention of Adelanto? Apple Valley? Buncha soft city shits!

I'd have thought Slab City was more your style:

http://en.wikipedia.org/wiki/Slab_City

JodyChunder   Tue, 5 Feb 2013, 5:26pm PST   Share   Quote   Permalink   Like   Dislike     Comment 17

New Renter says

I'd have thought Slab City was more your style:

Nah. Too rustic for me. Whenever a fellow hits the skids around here, we say, "he's gone to the slab!"

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