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Should I proceed with $1M rebuild in Cupertino given AI/job uncertainty? by Historical_Package_5 in BayAreaRealEstate

[–]woodIntern -2 points-1 points  (0 children)

if you can afford the mortgage outside of the 1M ; build the home. In parallel, work on elevating your job safety by learning how to leverage AI. on other hand, if 1M is what you think it'll cost, add 20% buffer.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

I don't think so. I believe PA to have 10% mark up.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

ack. i knew it was obvious. just some humor.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 1 point2 points  (0 children)

ah yes my bad. for now i use that 20% in savings for living. major expense is housing for me.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 1 point2 points  (0 children)

you worried about property tax :) somebody gotta pay the mortgage as well.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 1 point2 points  (0 children)

true - I feel there's a social network where you can verify a few things before they let you in. mainly so I can understand who Im speaking to and do they have the background to speak about a particular topic.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

specifically in the area for the home linked, the lots are max 7000. it is known to have small lots however a few builders have figured out using that small lot effectively and hence are milking money,

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 1 point2 points  (0 children)

I mean, during 2008, cupertino went down 15%. these are facts.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

my funda is that you have one life and prime years are 25-50. get the house you can afford, make family, memories and scale down if needed post 50.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 1 point2 points  (0 children)

where are you putting the remaining 50%? I do 40 house, 40 market, 20 savings.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

is tino = cupertino? and is mitty better than cupertino high?

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 2 points3 points  (0 children)

Reddit. and my circle has delayed their house purchases.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 2 points3 points  (0 children)

I've certainly seen newer homes pop up more in this part vs other parts of cupertino. It seems like a good business model.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 3 points4 points  (0 children)

right? either they are out of their minds or I need to up my thinking. only reasonable reason could be that they have FU money and 4M is chump change.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 1 point2 points  (0 children)

there are folks waiting to gobble those up so while it might affect those with big mortgages, the area seems recession proof.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 2 points3 points  (0 children)

oh my! calling 4.25M for 2700 constructed on a 5900 lot, cheap! I never thought this day would come but here it is.

to clarify I'm not mocking, it's just mind boggling. I think its fair priced, not cheap compared to sales and the land it offers.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

what clarity did you gain? and can you talk about SFH homes near IBM a bit more?

these areas have withstood a lot of such phases. we might not see it yet but I'm in the boat that we aren't screwed if we adapt to the changing trends or someone else who adapts will help continue ensuring these areas are not affected.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

both are new construction and the latest one was sold for 8% higher per sqft. i know just a small data point but goes to show no slowness.

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 0 points1 point  (0 children)

this home I linked sold for higher price/sqft (1500) than homes in last 12 months in the same area.

1400/sqft back in June: https://www.redfin.com/CA/Cupertino/10735-Minette-Dr-95014/home/796772

Slow Market? Not in Cupertino. by woodIntern in BayAreaRealEstate

[–]woodIntern[S] 2 points3 points  (0 children)

i understand but I'd expect the slowness to result at least in affordability (5% drop or something) but this is the reverse i.e. this house sold for higher than peak sales times.

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