https://www.redfin.com/CA/Los-Altos/2037-Farndon-Ave-94024/home/1465730 I was outbid by an all cash offer. If you have that much cash, seriously why not just retire or buy a better house with mortgage? Is this the lifestyle we get here with 2.5M cash?
I mean the answer is pretty obvious — to tear it down and make 5 million because this is Los Altos.
Bullcrap. This is mostly some investor from outside.
Take it easy man! This wasnt the house for you. You deserve atleast 2 bathrooms if you are paying more than 2M
You get 4B 4B for that in Fremont mission district
Damn.
That fuckin Chinese investor from China who doesn’t even live here
Looks like standard tear-down deal. Empty lots go for more nowadays. Also, as someone who all-cashed into real estate in bay area, my reasons were “easier this way, and I can always finance later”.
More than the person outbidding you, I am wondering about your interest/inspiration to even bid for this kind of house at that price...
The house was move in ready and I intended to live there without remodeling. I have two kids and they deserve nice backyard. My wife thinks school is important.
Let’s just say that to me paying a 2.5M w/ mortgage sounds as crazy as that guy doing all cash. Does that make you part of the problem ? I guess you’d say no, right ? Did I answer your qn btw ?
My offer was close to 2.5M, but with mortgage. If I had 2.5M in cash, I'd just retire and live in Hawaii.
By putting an offer of close to 2.5m for such a crappy home you are the part of problem, accept it or not. You can buy much better homes with similar schools in a lot of other area in thr Bay.
Who buys that? Investors or rich people who don’t wanna leave the bay