Originally Posted by SLO_Town
Originally Posted by Farnsworth
It's on a small lot. There are expensive areas of Oakland but that's not it. There are always people reaching for the stars. Singling out one doesn't prove too much.
Here is one I am familiar with, very nice couple owned it, both teachers who raised their kids in this little house. They paid 8k in 1957. Still has the 1952 wall heater. Extremely cheap construction. Sold 3,175,000 in 2018.
Who would have guessed all this internet/electronic tech would remain in the area and kids working for google etc could fork down over 3 million for a tear down. Freeway noise, loud, and in a flood zone are all nice extras.
https://www.redfin.com/CA/Palo-Alto/3360-Vernon-Ter-94303/home/1762070
And if you were to buy this little house, property taxes would be close to $40k per year.
Scott
Yes, and I don't know how people, kids many of them, make that much money. I knew the owners of this and they were paying around 260 per year some years ago. Maybe 600 recently? Now that is like three days of tax.