3300 sq ft home in Sunnyvale: sold for $4.47M, or $1M above list price π±π±π±
3300 sq ft home in San Ramon: sold for $2.68M, or 280k above list π±π±π±
Which would you rather buy?
https://www.redfin.com/CA/Sunnyvale/1638-Canary-Dr-94087/home/1127779?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
https://www.redfin.com/CA/San-Ramon/1913-Barossa-Dr-94582/home/2103048?600390594=copy_variant&231528114=control&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet
#housing #mortgage
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comments
How much did you pay for your house?
Given that we live in arguably the most expensive part of America, one can conceivably take advantage of geographical arbitrage with many potential destinations if one has bought a house that appreciates to $5M or beyond.
First, CA is a non recourse state which means your mortgage is only secured by the house itself and not by any other assets. That is a very important point which insulates you from losses.
Secondly, as far as I am concerned personally, 80% or more of my equity in my home comes from appreciation and less than 20% is money that I have put in from my paycheck.
Third, I do keep a buffer of multiple years worth of PITI is relatively safe low volatility liquid (I.e., not 401k/IRA) investments which do yield some returns. These are for peace of mind in case of long term job loss. I think every home owner should have at least one year and preferably more of their PITI in liquid form.