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Bay Area rents soaring


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2013 Jul 17, 11:41am   50,796 views  153 comments

by lovelafayette   ➕follow (0)   💰tip   ignore  

Wall Street Journal article says rents are rising very fast. My thought is that this will fuel gains in housing values. Any thoughts out there?

http://m.us.wsj.com/articles/a/SB10001424127887324694904578602013087282582?mg=reno64-wsj

#housing

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77   RentingForHalfTheCost   2013 Jul 25, 4:25pm  

tatupu70 says

RentingForHalfTheCost says

Only care about my apples. If people want to give away their apples for rotten tomatoes that works for me. 3K/mth renting verses 9K/mth ownership is not hard math to do. Although, I was always top of my math class, so maybe it is for some. ;)

OK--Mr. top of your math class, how about you show your work?

Sure

3k/mth rent
9k/mth to own

Any questions?

78   New Renter   2013 Jul 26, 12:56am  

RentingForHalfTheCost says

tatupu70 says

RentingForHalfTheCost says

Only care about my apples. If people want to give away their apples for rotten tomatoes that works for me. 3K/mth renting verses 9K/mth ownership is not hard math to do. Although, I was always top of my math class, so maybe it is for some. ;)

OK--Mr. top of your math class, how about you show your work?

Sure

3k/mth rent

9k/mth to own

Any questions?

Yes. How many sqft house/yard, what school district, how long have you been renting and how did you come up with $9k/mo to buy?

79   RentingForHalfTheCost   2013 Jul 27, 4:58pm  

New Renter says

Sure

3k/mth rent

9k/mth to own

Any questions?

Yes. How many sqft house/yard, what school district, how long have you been renting and how did you come up with $9k/mo to buy?

1800 sqft/ 11000sqft lot / pool/spa, grass, trees, bbq area, privacy
Pleasanton schools
1.5 years now at this place
9k/mth is the ownership cost to buy this house in today's market. Current value is now 1.3m looking at similar housing sales the last few months. Taxes alone would be over 14k/year. That is almost 5 months rent right there. Forget the upkeep, lost opportunity with the 20% down, mortgage, closing costs, realtors grap, etc. etc. Buying is just silly right now. Has been for a while.

80   RentingForHalfTheCost   2013 Jul 27, 5:04pm  

egads101 says

RFHTC is doing "other favors" for the landlord. That hardly counts as a real rent vs buy analysis for the rest of the world.

I guess I am. I am taking care of the house. I do take the leaves out of the pool filters, clean the bbq when I am done, make sure the place stays cool so the paint doesn't peal from the walls in summer, fight the occasional ant attacks as nature is trying to fight back, and keep using the doors so they don't get stuck over time.

I guess I am just a great tenant. ;)

81   lovelafayette   2013 Jul 28, 6:19am  

RentingForHalfTheCost says

New Renter says

Sure

3k/mth rent

9k/mth to own

Any questions?

Yes. How many sqft house/yard, what school district, how long have you been renting and how did you come up with $9k/mo to buy?

1800 sqft/ 11000sqft lot / pool/spa, grass, trees, bbq area, privacy

Pleasanton schools

1.5 years now at this place

9k/mth is the ownership cost to buy this house in today's market. Current value is now 1.3m looking at similar housing sales the last few months. Taxes alone would be over 14k/year. That is almost 5 months rent right there. Forget the upkeep, lost opportunity with the 20% down, mortgage, closing costs, realtors grap, etc. etc. Buying is just silly right now. Has been for a while.

How can this place be worth 1.3 million. This would be $722 per square foot. I looked at all closed sales in the last 3 months in Pleasanton and nothing has sold for even $500 per square foot in that size of house and lot. Does your landlord have oil rights underneath?

82   RentingForHalfTheCost   2013 Jul 29, 2:41am  

lovelafayette says

How can this place be worth 1.3 million. This would be $722 per square foot. I looked at all closed sales in the last 3 months in Pleasanton and nothing has sold for even $500 per square foot in that size of house and lot. Does your landlord have oil rights underneath?

Huge huge lot. 11000 sqft where all other houses are 7-8k. I wish it wasn't, but a similar house across the street just sold recently. I can't say I understand. Stupid money chases would be my guess. People who have more cash than they know what to do with. Not the boat most of us find ourselves. I just enjoy sitting back and watching and waiting.

I might have been a bit short on the sqft of the house. Might be up to 2000+ sqft. It is a 4/3. I come from a land where m^2 is more familiar.

83   New Renter   2013 Jul 29, 4:04am  

RentingForHalfTheCost says

lovelafayette says

How can this place be worth 1.3 million. This would be $722 per square foot. I looked at all closed sales in the last 3 months in Pleasanton and nothing has sold for even $500 per square foot in that size of house and lot. Does your landlord have oil rights underneath?

Huge huge lot. 11000 sqft where all other houses are 7-8k. I wish it wasn't, but a similar house across the street just sold recently. I can't say I understand. Stupid money chases would be my guess. People who have more cash than they know what to do with. Not the boat most of us find ourselves. I just enjoy sitting back and watching and waiting.

I might have been a bit short on the sqft of the house. Might be up to 2000+ sqft. It is a 4/3. I come from a land where m^2 is more familiar.

Try looking up your parcel # on your city/county tax collectors website. That should have the info you need.

Or break out a tape measure...

1 M^2 is 10 sqft. Is this math too difficult for you?

84   lovelafayette   2013 Jul 29, 2:36pm  

RentingForHalfTheCost says

lovelafayette says

How can this place be worth 1.3 million. This would be $722 per square foot. I looked at all closed sales in the last 3 months in Pleasanton and nothing has sold for even $500 per square foot in that size of house and lot. Does your landlord have oil rights underneath?

Huge huge lot. 11000 sqft where all other houses are 7-8k. I wish it wasn't, but a similar house across the street just sold recently. I can't say I understand. Stupid money chases would be my guess. People who have more cash than they know what to do with. Not the boat most of us find ourselves. I just enjoy sitting back and watching and waiting.

I might have been a bit short on the sqft of the house. Might be up to 2000+ sqft. It is a 4/3. I come from a land where m^2 is more familiar.

Even at 2000 square feet, this would make it $650 per square foot. Like I said, I don't see anything for even $500 per square foot in that range. Is there a gold mine underneath the lot because that would definitely add some value. What is the address across the street that sold for such a high price?

85   RentingForHalfTheCost   2013 Jul 29, 4:01pm  

New Renter says

1 M^2 is 10 sqft. Is this math too difficult for you?

1 M^2 is much closer to 9 sqft. Just saying... ;)

86   New Renter   2013 Jul 29, 4:12pm  

RentingForHalfTheCost says

New Renter says

1 M^2 is 10 sqft. Is this math too difficult for you?

1 M^2 is much closer to 9 sqft. Just saying... ;)

http://www.google.com/search?ie=UTF-8&source=android-browser&hl=en-US&q=convert+square+meters+to+square+feet
1 square meter is 10.763 square feet

Wow you suck at Google searches as well...

87   New Renter   2013 Jul 29, 4:20pm  

RentingForHalfTheCost says

Wish I was. I wish it wasn't going for 1.3m. I completely agree with you guys, I don't get it either. I am renting it for 3000 and another house down the roads that would sell for 1m+ was put on the market to rent at 3200/mth. That place has been vacant for about 3 months now. Not making this shit up. Million dollar homes that can't be rented. Just silly times.

Prove it! Post a link to the rental ad!

88   RentingForHalfTheCost   2013 Jul 29, 4:57pm  

lovelafayette says

Even at 2000 square feet, this would make it $650 per square foot. Like I said, I don't see anything for even $500 per square foot in that range. Is there a gold mine underneath the lot because that would definitely add some value. What is the address across the street that sold for such a high price?

Here is one forsale now for 1.1m in the same area. 2300 sqft and I've actually been into this house. It is not nearly as nice as the one I rent. Silly I tell yah. Just silly.

http://homes.yahoo.com/California/Pleasanton/4251-pleasanton-ave:0c2f0bbabfe8771c11f1e94b2a721d87/

89   RentingForHalfTheCost   2013 Jul 29, 5:01pm  

New Renter says

RentingForHalfTheCost says

New Renter says

1 M^2 is 10 sqft. Is this math too difficult for you?

1 M^2 is much closer to 9 sqft. Just saying... ;)

http://www.google.com/search?ie=UTF-8&source=android-browser&hl=en-US&q=convert+square+meters+to+square+feet

1 square meter is 10.763 square feet

Wow you suck at Google searches as well...

Right you are. Guess that is why I am always coming up short. Good to know. Thanks. So, now I would say my rental is about 2500 sqft using the right conversion. About 230 m^2

90   Bigsby   2013 Jul 29, 5:02pm  

RentingForHalfTheCost says

lovelafayette says

Even at 2000 square feet, this would make it $650 per square foot. Like I said, I don't see anything for even $500 per square foot in that range. Is there a gold mine underneath the lot because that would definitely add some value. What is the address across the street that sold for such a high price?

Here is one forsale now for 1.1m in the same area. 2300 sqft and I've actually been into this house. It is not nearly as nice as the one I rent. Silly I tell yah. Just silly.

http://homes.yahoo.com/California/Pleasanton/4251-pleasanton-ave:0c2f0bbabfe8771c11f1e94b2a721d87/

Yours is 500 sq ft smaller and 200k more? Why not post up the address so people won't question what you are claiming?

91   Bigsby   2013 Jul 29, 5:06pm  

I presume Pleasanton is in America, and I presume when you rented it the sqft was stated and yet now you are suddenly off by 700 sq ft. Hmmm....

92   RentingForHalfTheCost   2013 Jul 29, 5:09pm  

New Renter says

RentingForHalfTheCost says

Wish I was. I wish it wasn't going for 1.3m. I completely agree with you guys, I don't get it either. I am renting it for 3000 and another house down the roads that would sell for 1m+ was put on the market to rent at 3200/mth. That place has been vacant for about 3 months now. Not making this shit up. Million dollar homes that can't be rented. Just silly times.

Prove it! Post a link to the rental ad!

570 Tawny Dr. Here is the picture of it. Can't find the rental link anymore so they must have decided to do something else with it.
Still sitting vacant for 3 months now. My guess is they are fixing it up now to sell into this crazy market.

http://goo.gl/maps/eTAFN

93   RentingForHalfTheCost   2013 Jul 29, 5:14pm  

New Renter says

RentingForHalfTheCost says

Wish I was. I wish it wasn't going for 1.3m. I completely agree with you guys, I don't get it either. I am renting it for 3000 and another house down the roads that would sell for 1m+ was put on the market to rent at 3200/mth. That place has been vacant for about 3 months now. Not making this shit up. Million dollar homes that can't be rented. Just silly times.

Prove it! Post a link to the rental ad!

Found a cached version of the rental. Guess it started at 3495. Last I saw it was down to $3095 before it then disappeared. That was about a month ago and now it is still an empty house.

http://www.placebee.com/ca/sanfrancisco/3243189

94   RentingForHalfTheCost   2013 Jul 29, 5:15pm  

Bigsby says

Yours is 500 sq ft smaller and 200k more? Why not post up the address so people won't question what you are claiming?

Wish it wasn't either cause the landlord wants to sell. I'd love to pay a reasonable price that would be equivalent to renting. 2x or 3x doesn't matter to me. No Deal. I said above, I was off on the sqft. My rental is a little bigger than this place.

This place also is near the train noise. Mine is close to downtown as well, little train noise, quiet street, better schools, and a pool/spa/bbq. Still I wish it wasn't 1.3m. I should sick you guys on the landlord. Tell him that his place can only be 800K at most. Maybe you guys know best.

95   Bigsby   2013 Jul 29, 5:17pm  

RentingForHalfTheCost says

Bigsby says

Yours is 500 sq ft smaller and 200k more? Why not post up the address so people won't question what you are claiming?

True. Wish it wasn't either cause the landlord wants to sell. I'd love to pay a reasonable price that would be equivalent to renting. 2x or 3x doesn't matter to me. No Deal.

I thought you just said it was 200 sqft larger.

96   RentingForHalfTheCost   2013 Jul 29, 5:19pm  

Bigsby says

RentingForHalfTheCost says

Bigsby says

Yours is 500 sq ft smaller and 200k more? Why not post up the address so people won't question what you are claiming?

True. Wish it wasn't either cause the landlord wants to sell. I'd love to pay a reasonable price that would be equivalent to renting. 2x or 3x doesn't matter to me. No Deal.

I thought you just said it was 200 sqft larger.

True to the 200k more. Trying to encourage people rather than point out their errors. ;)

97   Bigsby   2013 Jul 29, 5:21pm  

RentingForHalfTheCost says

Bigsby says

RentingForHalfTheCost says

Bigsby says

Yours is 500 sq ft smaller and 200k more? Why not post up the address so people won't question what you are claiming?

True. Wish it wasn't either cause the landlord wants to sell. I'd love to pay a reasonable price that would be equivalent to renting. 2x or 3x doesn't matter to me. No Deal.

I thought you just said it was 200 sqft larger.

True to the 200k more. Trying to encourage people rather than point out their errors. ;)

I think you need to get your 'facts' in order before you continue posting.

98   RentingForHalfTheCost   2013 Jul 29, 5:25pm  

Bigsby says

I presume Pleasanton is in America, and I presume when you rented it the sqft was stated and yet now you are suddenly off by 700 sq ft. Hmmm....

Okay, just so you guys can sleep well, I found the rental record from when I first checked on this place. It is 2150sqft officially. My first count was low, and then my force adjustment to meet your logic was high. 2150sqft on a 11000 sqft lot for 1.3m. Wish it wasn't this silly.

99   RentingForHalfTheCost   2013 Jul 29, 5:26pm  

Bigsby says

I think you need to get your 'facts' in order before you continue posting.

Can say the same to you.

100   Bigsby   2013 Jul 29, 5:28pm  

RentingForHalfTheCost says

Bigsby says

I presume Pleasanton is in America, and I presume when you rented it the sqft was stated and yet now you are suddenly off by 700 sq ft. Hmmm....

Okay, just so you guys can sleep well, I found the rental record from when I first checked on this place. It is 2150sqft officially. My first count was low, and then my force adjustment to meet your logic was high. 2150sqft on a 11000 sqft lot for 1.3m. Wish it wasn't this silly.

Meet my logic? Someone else corrected your error. And you are just posting numbers. You've done this before and been caught in a lie. Why should people believe what you are posting now?

101   Bigsby   2013 Jul 29, 5:28pm  

RentingForHalfTheCost says

Bigsby says

I think you need to get your 'facts' in order before you continue posting.

Can say the same to you.

Based on what?

102   RentingForHalfTheCost   2013 Jul 29, 5:33pm  

Bigsby says

Why should people believe what you are posting now?

Couldn't give a rats ass what you or others believe. For all I know you are believe in haunted trees. Good for you. I got my financial situation and it makes perfect sense to me. You don't like it, tough. It is what it is. Housing here sucks. Always has, always will. Renting just rocks right now though. Athough, owning if you bought at the bottom or long ago rocks as well. My decision point deals with today though, not yesterday.

103   RentingForHalfTheCost   2013 Jul 29, 5:34pm  

Bigsby says

RentingForHalfTheCost says

Bigsby says

I think you need to get your 'facts' in order before you continue posting.

Can say the same to you.

Based on what?

Too much to highlight with you. Have a good sleep. The brain functions better with rest. ;)

104   Bigsby   2013 Jul 29, 5:40pm  

RentingForHalfTheCost says

Bigsby says

RentingForHalfTheCost says

Bigsby says

I think you need to get your 'facts' in order before you continue posting.

Can say the same to you.

Based on what?

Too much to highlight with you. Have a good sleep. The brain functions better with rest. ;)

Same old same old with you. You really are just a massive bullshitter. And I generally don't sleep at 4.40 in the afternoon, so I'm quite happy to wait for you to attempt to back up your comment.

105   lovelafayette   2013 Jul 29, 11:11pm  

RentingForHalfTheCost says

Bigsby says

I presume Pleasanton is in America, and I presume when you rented it the sqft was stated and yet now you are suddenly off by 700 sq ft. Hmmm....

Okay, just so you guys can sleep well, I found the rental record from when I first checked on this place. It is 2150sqft officially. My first count was low, and then my force adjustment to meet your logic was high. 2150sqft on a 11000 sqft lot for 1.3m. Wish it wasn't this silly.

Even if this was true, you are saying that this house sells for $604 per square foot. The highest sale in the last 3 months in Pleasanton of any house under 2200 square feet was $915,000. Somehow the house you are renting is worth 42% more.

106   RentingForHalfTheCost   2013 Jul 30, 3:12am  

lovelafayette says

RentingForHalfTheCost says

Bigsby says

I presume Pleasanton is in America, and I presume when you rented it the sqft was stated and yet now you are suddenly off by 700 sq ft. Hmmm....

Okay, just so you guys can sleep well, I found the rental record from when I first checked on this place. It is 2150sqft officially. My first count was low, and then my force adjustment to meet your logic was high. 2150sqft on a 11000 sqft lot for 1.3m. Wish it wasn't this silly.

Even if this was true, you are saying that this house sells for $604 per square foot. The highest sale in the last 3 months in Pleasanton of any house under 2200 square feet was $915,000. Somehow the house you are renting is worth 42% more.

Again, I should put you in touch with my landlord. I would buy it if it was on par with renting. Unfortunately, not even close. 1.3m and growing. Silly

107   RentingForHalfTheCost   2013 Jul 30, 3:16am  

Even Zillow has a pretty accurate range of ownership and rental for 573 Tawny.

921K to buy
2900/mth to rent. ( to which there were 0 takers)

Winner is Rent by a mile!

http://www.zillow.com/homedetails/573-Tawny-Dr-Pleasanton-CA-94566/25077648_zpid/

108   RentingForHalfTheCost   2013 Jul 30, 7:45am  

CDon says

out of curiosity, are you now tripling down on your lie, or do you not see (a few pages in) where it shows the address, 573 tawny drive and the word "leased" next to it?

http://www.craigpm.com/Nav.aspx/Page=%2fListNow%2fDefault.aspx%2flstStatusID%3d20

Funny, no one has provided a link that show it. What a bunch of clowns you are.

109   CDon   2013 Jul 30, 7:51am  

RentingForHalfTheCost says

CDon says



out of curiosity, are you now tripling down on your lie, or do you not see (a few pages in) where it shows the address, 573 tawny drive and the word "leased" next to it?


http://www.craigpm.com/Nav.aspx/Page=%2fListNow%2fDefault.aspx%2flstStatusID%3d20


Funny, no one has provided a link that show it. What a bunch of clowns you are.

Before I accused you of anything, I wanted to be sure - but its true, you really are tripling down on your lie. Here is the actual page

http://www.craigpm.com/Nav.aspx/Page=%2fListNow%2fProperty.aspx%3fPropertyID%3d2194304%26

110   zesta   2013 Jul 30, 8:14am  

I'm guessing if RentingForHalfTheCost would have started this thread 75% of the comments would have been deleted long ago.

RentingForHalfTheCost says

Funny, no one has provided a link that show it. What a bunch of clowns you are.

111   rooemoore   2013 Jul 30, 8:42am  

RentingForHalfTheCost says

Haha. He couldn't get me as a renter. I screen my landlords pretty carefully.

Thanks for the laugh.

112   New Renter   2013 Jul 30, 8:48am  

RentingForHalfTheCost says

CDon says

out of curiosity, are you now tripling down on your lie, or do you not see (a few pages in) where it shows the address, 573 tawny drive and the word "leased" next to it?

http://www.craigpm.com/Nav.aspx/Page=%2fListNow%2fDefault.aspx%2flstStatusID%3d20

Funny, no one has provided a link that show it. What a bunch of clowns you are.

I understand - web browsers are beyond your abilities. Here you are!

113   dhmartens   2013 Jul 30, 12:48pm  

Rents are higher because it is wise to move to the Beautiful Bay Area and work in a tech job and have the flexibility to leave without paying a commission and get a high paying job elsewhere with cheaper housing.

The key is to "Hypnotize" yourself that you own all the parks and mountains. that way there is no need to "Buy" them yet you can still enjoy the natural geography and interesting cultures.

114   RentingForHalfTheCost   2013 Jul 30, 9:15pm  

New Renter says

RentingForHalfTheCost says

CDon says

out of curiosity, are you now tripling down on your lie, or do you not see (a few pages in) where it shows the address, 573 tawny drive and the word "leased" next to it?

http://www.craigpm.com/Nav.aspx/Page=%2fListNow%2fDefault.aspx%2flstStatusID%3d20

Funny, no one has provided a link that show it. What a bunch of clowns you are.

I understand - web browsers are beyond your abilities. Here you are!

Thanks for all your hard work.

115   RentingForHalfTheCost   2013 Jul 30, 9:18pm  

zesta says

I'm guessing if RentingForHalfTheCost would have started this thread 75% of the comments would have been deleted long ago.

RentingForHalfTheCost says

Funny, no one has provided a link that show it. What a bunch of clowns you are.

Place is still vacant. Guess they are trying to give the false impression that things are renting fast. I'll swing by today and take a bunch of pictures of an empty house. Call the mgnt company and offer to rent it, you will be surprised when they say it is still available. Can't believe a friggin word from anyone in the real estate bus anymore. Bunch of crooks.

116   CDon   2013 Jul 30, 10:30pm  

RentingForHalfTheCost says

I'll swing by today and take a bunch of pictures of an empty house. Call the
mgnt company and offer to rent it, you will be surprised when they say it is
still available.

Do whatever you want. Just understand, no one here will have any reason to believe you.

Nothing you do or say from hereon will in any way re-establish your reputation as someone honest, trustworthy, or in any way believable

That ship has sailed. You had multiple points at which you could have bowed out, taken your lumps, and (hopefully) moved on. Yet, at each point you simply doubled then tripled down in an attempt to cover up your initial lie - and that strategy has (once again) failed you.

Whatever you sought to accomplish via your self imposed two month hiatus from this site has not worked. You would have thought that after the back-to-back "fake MCD trades/impossible CSCO price" debacles you would have been more careful in your attempt to rebuild your reputation. Yet it took you all of 6 days to fall back into your old habits.

So again, do what you want, just know this... no matter what you do... no matter what you say... no one will have any reason to believe any of it whatsoever.

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