In the below video, the smaller, older houses are selling for about $800,000 while the bigger houses are selling for over $1 million – crazy. The skinny lot at the beginning of the video is on the corner of Pasadena and Olive and has a value of $882K while the other is on the corner of Olive and Orange and has a value of $910K. The empty lot where the house had been torn down is listed at $1 million…here’s an areal shot
While I grew up in the heart of Silicon Valley, I won’t be making my home here. Real estate prices are just too high these days. In fact, in the neighborhood where I grew up, they are tearing down all the older houses and building big McMansions in their place. Land prices have far exceeded the price of the older houses. While housing prices may have softened in other places over the last few months, older houses are still being torn down with new ones going up here.
While I like the area, I just can’t afford to live here. While I’m hoping the Internet businesses do well in the future, I don’t think they will be earning enough to settle down in this area for quite awhile. It also doesn’t make a lot of sense to live here. Since I can basically do the work from anyplace in the US (or world for that matter) where I can get an Internet connection, it doesn’t make sense to live in such an expensive area.
We’re going to be looking north to Oregon or possibly Washington to see if they will fit our budgets a bit better. The plan is to start looking in those areas starting next month and hopefully we can find a good place at a reasonable price.