Cupertino Housing Market

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.

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6 Responses to Cupertino Housing Market

  1. Tom says:

    Here is the Windows Live Local permalink for the area. You can see the big PALM on Olive Ave to orient yourself!

  2. Steve says:

    I feel your pain. I was born and raised in southern California and imagined one day I’d be able to buy a house here, as my two older brothers did. Over the last few years I’ve watched myself get completely shut out of the market. Unless prices fall drastically over the next few years, I doubt I’ll ever be able to buy a home here.

  3. Amber says:

    Even in Portland (Oregon) those small skinny houses are popping up all over. My friend bought one a couple years ago, brand new. It was in an empty lot that they cut in half and built two houses on. They aren’t connected, each has a little bit of a yard but nothing to really write home about. She loves it though, it’s perfect for her. Down the street was a similar house on a full lot with a freestanding garage. The owner had to leave and the guy who bought it tore down the garage and built another skinny house next to it. But I bet they go for a lot cheaper here than there. 🙂 I think my friend’s was around $180k.

  4. pfadvice says:

    Here is the Windows Live Local permalink for the area. You can see the big PALM on Olive Ave to orient yourself!

    Oh, that photo is nice – you have to move west one block to see where I was filming and then when you reach Orange Avenue, move south. The house that was torn down is still in the photo (third one in) although they had started tearing up the back yard it appears.

  5. Jeff says:

    go to Houston, you can build a house bigger (and nicer) than that for $200k.

  6. Cindy says:

    Wow. I can understand why anyone would want to have a home near a coastline or where there’s any gorgeous scenery for that matter, but I’m stunned at what you get for your money where you folks live. I’ve lived in Ohio all my life and personally enjoy the seasonal changes and the fall is just gorgeous here, and I have a 2-bedroom brick that cost me $75K that suits me fine. I used to daydream about retiring someday in Washington state or somewhere up near that direction but no more. My dream is to have this gorgeous mountain view. So now I’m thinking maybe West Virginia, ha-ha, a lot closer.

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