buying house in castro valley

New QQdt81
Jun 9 20 Comments

have $200k saved but everything in peninsula is too expensive (2bed house >1.2 million). we are Married (possibly have a family in the future) and work near San Francisco. My reasoning is that both from mountain view and castro valley it takes > 1 hr (in traffic drive) to get to SF and east bay real estate is still somewhat affordable. Am I missing something?

TC: 330k combined

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TOP 20 Comments
  • New / Eng soylatte
    Wait for a recession the markets already cooling down. Unless you wanna shorten your lifespan with the commute.
    Jun 9 2
    • New $€£
      Maybe this is the bottom and it's all up from now on? Trying to time the market is a terrible idea. Buy when you feel like you are ready to invest and if you would be okay living there long term.
      Jun 9
    • A lot of those houses are owned by old people that could afford it way back when. Market will flood when they start dying off in droves.
      Jun 9
  • Facebook public2
    Keep saving and buy in peninsula. Location, location, location.
    Jun 9 2
    • Earthquake doe
      Jun 9
    • Facebook public2
      Earthquakes are fine, avoid the flood zones right on the bay obviously
      Jun 9
  • Amazon uksnsjs
    People keep saying east bay will get hit hard but haven't noticed how much it has improved since then

    Castro Valley is solid
    Jun 10 1
    • Visa / Eng kjzO64
      Well said.

      Moreover, fundamentally, if you’re not going to blow your competition out of the water with your massive TC, one needs to be able to recognize undervalued areas that meet basic criteria.
      Jun 10
  • Visa / Eng kjzO64
    You’re on the right track. Castro Valley is a good value, and it’s centrally located.

    It has a compact walkable semi-downtown near the BART station and the schools are good.
    Jun 9 0
  • Comcast G0ku
    Only downside is that if a recession were to collapse demand for housing, such offbeat locations on the outskirts tend to get hit harder than San Francisco proper or Mountain View. SF prices didn’t move much in 2008 either but east bay was a mess.
    Jun 9 0
  • Slack xSWh53
    fremont?
    Jun 9 0
  • F5 Networks RRA
    Seems sound.
    Jun 9 0
  • Netflix ye651t
    I’d personally just keep renting a wait a another year. Correction is coming. It might not be huge, but a gradual decline is definitely happening.

    I’d just war chest and wait for the time being.
    Jun 9 5
    • Databricks / Data
      data4u

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      data4umore
      Man Netflix guy can save 200k in a year lol
      Jun 9
    • Netflix ye651t
      Maybe if you don’t have kids. 😬 But I do save a lot.

      Waiting for the downturn. And praying my options pay off.
      Jun 9
    • Databricks / Data
      data4u

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      How much are Netflix options at when u got them
      Jun 9
    • Salesforce / Eng sf-dc-01
      What if correction doesnt come for another 3 years?
      Jun 9
    • Netflix ye651t
      Look at it this way. How much appreciation are we estimating in that time frame? Most Zillow projections is pegging most areas with a down turn over the next year. Quite a few zip codes are already turning.

      As impatient as it might be to wait longer after waiting and saving so far, I think it’s prudent.

      And keep that money in cash and not stocks.

      If you’re looking long term, like 10 years, then feel free to buy. You might have to sit through some losses for a couple of years though.
      Jun 10
  • Uber nhQr34
    Don’t buy there, peninsula is way better. You can easily afford a condo / townhome here. South Bay is closer to better beaches, top notch schools. Even if there’s a market crash, South Bay home prices will remain stable or even go higher long term.
    Jun 9 0
  • Databricks / Data
    data4u

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    data4umore
    What’s ur TC?
    Jun 9 0

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