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Top Indicator of a World Gone Insane


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2014 Mar 6, 7:57am   6,160 views  16 comments

by rufita11   ➕follow (0)   💰tip   ignore  

http://www.redfin.com/CA/Concord/1121-Carey-Dr-94520/home/1703681

I grew up near this neighborhood and have watched it on its downward trend-I'm trying to get my parents to sell. My dad insists there are people who really want to pay the prices to live in this part of Concord--my mom thinks any buyer would be insane to do so. They have a neighbor who wants to list her dump (completely original condition)for $625K. She got a walk-up offer from an investor for $370K (still way too high IMO). It all makes me want to just take everything I am saving for a down payment and put it all in a 10 year CD--or buy a clean diesel Audi and take European vacations every year---hmmm choices.

Comments 1 - 16 of 16        Search these comments

1   RentingForHalfTheCost   2014 Mar 6, 8:02am  

Yup, looks like a 250K dump to me. Have some fun in your Audi and the vacations. Lets the foreigners throw away their free money and give your parents a healthy retirement. $0.65 million for this place is just insane.

2   bubblesitter   2014 Mar 6, 8:06am  

I'd say, low inventory has made these sellers completely nuts.

3   mmmarvel   2014 Mar 6, 8:33am  

Here in Houston, she'd be lucky to get $100K for it. And that would be on a good day with a generous buyer.

4   hanera   2014 Mar 6, 8:34am  

Much worse than this condition can be sold for over $1mil in Palo Altos.

5   BoomAndBustCycle   2014 Mar 6, 8:36am  

Elementary schools is a 3/10
Middle school is a 1/10 (my god.... 1/10... never seen one that low).

6   rufita11   2014 Mar 6, 8:41am  

And to think in the 80's, these schools were top notch. Concord and Lawrence, KS were listed as top cities in which to raise kids one year too (I believe 89 or 90). It was a decent, suburban place at one time. Mt. Diablo High has sucked since I can remember though.

7   Ceffer   2014 Mar 6, 11:49am  

Cricket, when I was young, I thought the world was insane.

When I grew in experience and wisdom, I thought that it was I who was insane.

Finally, I realized I was right to begin with, the world IS insane, and I just have to figure out a way to navigate it.

8   hrhjuliet   2014 Mar 7, 7:22am  

rufita11 says

And to think in the 80's, these schools were top notch. Concord and Lawrence, KS were listed as top cities in which to raise kids one year too (I believe 89 or 90). It was a decent, suburban place at one time.

This is something a lot of people don't think about at all in the Bay Area. It may have great tech jobs today, but in ten or twenty years it could become out of fashion and Ghetto Town USA. For many reasons, this would not surprise me. Then what? If you are locked up in a track home you bought for 1,000,000 is suddenly not sellable for less than half of that? There is a district where I live that had the highest scores in the Valley and an award as a distinguished school 15 years ago, but now has the lowest rating. The market in the neighborhood tanked. So even places in the Bay Area are already showing they are not immune to trends. Anyone who buys in this market is a fool, and anyone who bails the foolish buyers out when prices go down ,with any kind of government money, is a thief.

9   Shaman   2014 Mar 7, 7:44am  

10 year cd is nuts. Invest in growth stock. Pick a company or group of companies that you believe in and use and like their service. Even if the market dips, you'll be better than fine when it comes back. If I had to pick one stable stock that is on it's way up: Visa. 50% return the last two years running and the Asian markets are opening to it.

10   turtledove   2014 Mar 7, 8:25am  

That's just depressing.

11   justme   2014 Mar 7, 10:10am  

QUACK !!

12   justme   2014 Mar 8, 12:21pm  

@hrjuliet, that cartoon is scary stuff!

But yes, my comment has something to do with the favorite street of our favorite duck.

13   Ceffer   2014 Mar 8, 3:42pm  

Man, Princess Tutu is scary psychedelic.

I hope there is no Prince Tutu.

14   Ceffer   2014 Mar 9, 4:20pm  

Looks like a nice spot to watch the gunfire from Vallejo.

15   rufita11   2014 Mar 9, 4:30pm  

Possibly, but I lived there for almost a year and enjoyed its really cool, small-town vibe. My dalmatian was even in one of their annual parades. I would walk around at night and never felt unsafe. Lot's of artists, hippies, and bikers.Ceffer says

Looks like a nice spot to watch the gunfire from Vallejo.

16   clambo   2014 Mar 9, 5:44pm  

Don't buy a CD. You are lending your money to a bank for almost nothing.

Buy a stock mutual fund. For tax efficiency, index funds don't usually create a large 1099 every year. Vanguard Total stock market for example.

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