The Housing Market (2021)

[FL-JOE]

I hate to hear those things about Austin. My oldest grandson is graduating early from college in December and has been offered a job from a company out there. Of course he is really wanting to get out of his home state of Illinois so maybe he won't think it is so bad.

 

[murphysranch]

The home in Santa Clara CA that we worked on for two months, listed last Friday. $1,950,000. 1957 home, 1545 sq ft, Cupertino Schools, 4 blocks from the new Spaceship Apple Campus. Many employees walk to work. Open house Sat and Sun. All bids in by 3 p.m. this past Tuesday.

There were 15 official bids. (three unofficial, and suspicious). Sis and BIL took the highest bid - a young couple who offered $2,510,000.

Interestingly all bidders save one, were Chinese. The other was Indian. The couple's parents have gifted them $100K to help with the $2 million loan that they are going to take out. Don't forget that now that the house will be valued at this price, their yearly property taxes will be approx $32,000.

Thud....

3661 Randolph Ave, Santa Clara, CA 95051 | Zillow

3661 Randolph Ave, Santa Clara CA, is a Single Family home that contains 1545 sq ft and was built in 1957.It contains 3 bedrooms and 2 bathrooms.This home last sold for $2,500,000 in September 2021. The Zestimate for this Single Family is $2,849,100, which has increased by $32,581 in the last...

www.zillow.com

 

[J&JD]

The home in Santa Clara CA that we worked on for two months, listed last Friday. $1,950,000. 1957 home, 1545 sq ft, Cupertino Schools, 4 blocks from the new Spaceship Apple Campus. Many employees walk to work. Open house Sat and Sun. All bids in by 3 p.m. this past Tuesday.

There were 15 official bids. (three unofficial, and suspicious). Sis and BIL took the highest bid - a young couple who offered $2,510,000.

Interestingly all bidders save one, were Chinese. The other was Indian. The couple's parents have gifted them $100K to help with the $2 million loan that they are going to take out. Don't forget that now that the house will be valued at this price, their yearly property taxes will be approx $32,000.

Thud....

3661 Randolph Ave, Santa Clara, CA 95051 | Zillow

3661 Randolph Ave, Santa Clara CA, is a Single Family home that contains 1545 sq ft and was built in 1957.It contains 3 bedrooms and 2 bathrooms.This home last sold for $2,500,000 in September 2021. The Zestimate for this Single Family is $2,849,100, which has increased by $32,581 in the last...

www.zillow.com

That one impresses me as really high, but that is an outstanding school district that places many grads in the best US colleges, and otherwise that location means a lot. We are seeing wealthy families from China, and to a lesser degree, India, affect our home values. Now I know how other states feel when Californians move in, and drive up prices.?
Our Chinese neighbors are very educated, high tech workers, doctors etc, and are good folks to have nearby. When Covid hit, they were very concerned about us oldies, and were always offering to shop for us when they were going to Costco, etc.
Our neighborhood is a mixture, but we all seem to get along well, and help each other in different ways. There is not a home close by that I could not run to for help in an emergency. Judy D

 

[murphysranch]

Agreed.

Both cultures stay inside their homes there. Hubs and I always had tini time out back at 6 when he was done working on the remodel. Nobody else goes outside of their home, except to walk to Apple.

My nephew married an Indian from Bangalore. She's a lovely, very very well educated woman who has lived in the US for 8 years. When we went back to India for the formal cultural ceremony, last year, all those folks, both poor and moderately financed, reached out and welcomed us from the US with open arms. I find Indian's very very friendly, more so than the Chinese.

Anyhoo, I do hope that the prices stabilize for all of us, so that there is not a repeat of the crash in Real Estate that millions suffered through a bunch of years ago.