havebookwillteach
01-19-2008, 10:21 AM
The article reporting SM County has a vacancy rate of just 3-point something percent. This means "there's no more room at the inn" -- a 3% vacancy rate is less than usual for normal turnover. No wonder rents are so high! I remember my Father asking me to back out renting a San Mateo home for $150 a month because he thought the price was a rip-off. Indeed, we later found a cheaper (and somewhat nicer) place. The article reports $2000-2100 for a 1 bed apartment, amazing!!!! Tell THAT to any friends elsewhere in USA where (many, many nice places) a full modern 5 bedroom home on good acerage is under $200,000 total price (or about $1500 a month). Real Estate is surely a fascinating subject!!
What do we learn from this? If someone plans to stay in an area for a long time (many years), it usually pays to learn about real estate and plan to purchase a home of your own. (Of course, if someone is planning to leave in a couple years, renting makes good sense.) Home prices have slid down in some areas, and have gone up in others (especially in parts of the Peninsula). Question of the day: would you want to buy a home in a town where prices have gone down, thereby getting a bargain, or to buy a place in an area where prices have held firm or even gone up, thereby moving to a high-demand zone? Second question: how much should such calcuations enter into the selection of your personal residence? Or, an investment property? Interesting topics!
And yes, you can learn the principles of real estate right now at CSM, you can sign up at www.collegeofsanmateo.edu, Spring term classes start January 22, 2008 and there's still some space available in some of them! (Next classes begin in June and August.)
Have a very Happy New Year! HB
What do we learn from this? If someone plans to stay in an area for a long time (many years), it usually pays to learn about real estate and plan to purchase a home of your own. (Of course, if someone is planning to leave in a couple years, renting makes good sense.) Home prices have slid down in some areas, and have gone up in others (especially in parts of the Peninsula). Question of the day: would you want to buy a home in a town where prices have gone down, thereby getting a bargain, or to buy a place in an area where prices have held firm or even gone up, thereby moving to a high-demand zone? Second question: how much should such calcuations enter into the selection of your personal residence? Or, an investment property? Interesting topics!
And yes, you can learn the principles of real estate right now at CSM, you can sign up at www.collegeofsanmateo.edu, Spring term classes start January 22, 2008 and there's still some space available in some of them! (Next classes begin in June and August.)
Have a very Happy New Year! HB