You know how some magazines have a feature where they show gorgeous old houses around the country labeled with impossibly inexpensive list prices?
Today's blog post is going to do the exact opposite.
Below are three houses that came up in a search for our first house in San Francisco's East Bay. If you live in an area of the country where real estate is expensive, these prices may not surprise you much. But for those of you living elsewhere, hold on to your hats. By the end, you'll be feeling grateful for your local real estate market!
If you are going to ask me to pay $525K for this 2 bedroom, 1 bathroom, please, please at least move out and hire a stager to come in. I think there might be a fireplace buried under there somewhere.
This two bedroom, one bathroom is nice enough. At around 900 square feet it's definitely on the small side, but the list price of $550K seems ok when you compare it to the previous two houses. Except that rumor has it there were fifteen offers on this house and that it sold for closer to $800K.
As a matter of fact, if you have a decent enough looking house in moderate to good condition here, you can expect it to sell for 20 to 25% above asking price. That's right. Above asking price.
And while we don't live in San Francisco, I can tell you that after reading this article on the rise of micro apartments there, I'm glad it's not on our radar.
As you can see, our house search was starting to look pretty hopeless, but we kept at it. After years of living frugally and saving, saving, saving, we closed yesterday on a teensy, tiny but totally adorable two bedroom house. I recently joked with a friend that I might be changing the name of this blog to Living in Miniature.
More details to come, but in the meantime, get ready for lots of small space design posts. :)