Well the rental market is getting tight in the valley again. so my landlord just raised my rent $95.
I hit ZipReality.com and looked to see what was there. I found 5 apartments to look at. Central air, 2Br, 1+ba about 1000sf and a crime index of under 70.
I looked at two units in the same complex first. One $420,000 and the other $439,000. Yep it is crazy in the SillyCon Valley. The numbers scare the crap out of me. Mortgage, taxes, insurance, HOA total about $3200 per month. After the taking the tax advantage into account, I just increased my expenses by $500 per month by considering this. I did say Silly Con Valley, right? This is after the prices have dropped a bit in the last month.
The one for $439k had a no name laminate floor the Realestate agent at the open house swore was better than Pergo. And a one garage for small midsize car. My Highlander would "squeeze" in. The living room had an odd angle. I would have had wasted space to put in the sofa and the stereo so that I could watch TV and not deal with glare on the TV from the sun. Small L shaped living room dining rooam areas just don't work in a 2 BR place that is under 1000sf. It worked when I had an 1150sf apartment. That missing 200sq in this place made it too small for an "L".
I did see one unit for $407,000. For that price I was right next to the train tracks. Just in case the 3AM the freight did not wake me, the first CalTrans bullet train at 4:30AM will. Plus the carpet needed replacing and the bedrooms were small. And a unexplainible hot spot on the kitchen floor. But only $407k.
The other unit I was looking at for $430,000. "Move-in condition". The electricity was turned off. So the refrigerator was it's own smelly special of mold. And the carpet was a forrest green. And it was stained. And the whole apartment was painted with a GLOSS white wash; can we all say glare?. And I backed on to HWY 101. And all the balconies showed some really serious dry rot issues. And the current owner was in forclosure and pulled $80k in equity out before walking away from the place 3 monnths ago. But it was in Move-in condition.
Out of the 5, I am looking at the first one again tomorrow night. I have asked my friend Dawn to take a look. See what she thinks. The second bedroom is really a den. Or are there people who put their child in a bedroom at the opposite side of the apartment. With a sliding glass door opening to the balcony. I saw child be cause only a single sized bed will fit.
I need to be picky. One, there are these ridiculous prices. Two, I'll probalby be there for at least 10 years. Unless I get a really big payoff from the stock at my current job. Even if that happens, I do not want to pack a box for anything other than a gift or goodwill for a few years.