Freakin' Tiny Mill Valley PoS
This Mill Valley PoS (built in 1923) is 699 sq ft and is asking $745,000! That's $1066/sq ft! What are you people thinking? Have people completely lost their minds or what? Just because it has the currently trendy bamboo flooring does that mean peoples' sense of monetary value is to be flushed down the toilet?
posted by Marinite at 12/18/2005 08:18:00 PM
14 Comments:
I read awhile back that prices were so outrageous down there in Marin that they couldn't even get kids to work at Starbucks anymore..that there just wasn't anyone in town willing to take those jobs, prices had driven most of the people willing to do it out.
Of course Sonoma isn't far behind, every other place that opens on the Plaza is a Tasting room, or some joint selling high priced toys to tourists.
...and it is right on busy Shoreline Highway, in Tam Junction. And it is being flipped, having been sold just 5 months ago for $480k, after being on the market for 72 days (not including the little tricks realtors play, like taking the property off the market for a short stint, so they can drop the price but claim that listing price to sales price is near 100% when it is sold). I thought bamboo floors were an economic choice? West Bay Real Estate shows it only having 1 bedroom when it was sold last July.
I was talking with someone who works at a chain hair cutting place in Marin. I asked why there is always only one or two people cuttng hair on the weekends? There used to be seven or eight. She said that they cannot pay the sorts of wages that people need to live in Marin and so the qualified help go to the high end, trendy salons. It is sad what we have done to our community by our indifference and inaction.
The latest print edition of Business Week makes some interesting comments about things like granite countertops, bamboo fooring, etc. They refer to it as a "lifestyle upgrade" and not an "investment". They go further to say that upgrading your house is not an investment at all. I would beg to differ on that last point in that upgrading your house is an investment but only if you plan to sell immediately after the upgrades are complete (and before they fall out of style). It's nice to see a major publication admit that the house you live in is not an investment (a big change for them).
Of course Sonoma isn't far behind, every other place that opens on the Plaza is a Tasting room, or some joint selling high priced toys to tourists.
I'm looking forward to when the credit bubble/economy contracts, and consumer spending re-adjusts to actual wages. When the "new wealth" of Sonoma won't provide enough sales volume to keep those chíc stores open, will these homeowners want to stay?
$1066/sq ft--incredible, LOL!
Check out this 1.25M crack den...
http://realestate.bayhomesite.com/RealEstate/Sales/Listing.asp?lid=148-20535572
That one already made it into this Hall of Shame.
will these homeowners want to stay?
Reskeptic, I hope not. When people roll into Sonoma with a lot of money, they love the charm they love the town and then they immediately want to start making it into whatever high tone suburb they just left.
We were invited to an event,(film connected) and were shocked to find ourselves in The Night of the Flippers...one of them said to me, "well, there are two groups in this town, the before 1990 People and Us."
He didn't relaize who he was talking to I guess and I didn't realize what he meant at first when I answered, "gosh all of our friends are before 1990 people" After that he didn't seem to want to talk to us too much longer. As Pogo used to say ,"I have met the enemy and they are Us"
we were shocked to find ourselves in The Night of the Flippers...one of them said to me, "well, there are two groups in this town, the before 1990 People and Us."
LOL, Damn...that's creepy! Also reminds me of that classic "Invasion of the Body Snatchers". So much for "community" in Sonoma...I hope people like that will leave (or learn).
At least, this one has nice curb appeal. Anyone wants to own a cute "cottage" in Mill Valley, this house will do.
Curb appeal? Are you kidding me? This house is directly across the street from a very busy 7-11 store. The "house" looks more like a mobile home that got dropped on to the lot.
At least, this one has nice curb appeal.
I was just kidding about that. It's a butt ugly house. I was making fun of most people making a big deal out of a POS
..a fool and his money are...
I actually stopped by to see this one. Dang! But 699 sq ft really is very, very small. All of the neighbor's houses can look in. Horrible location...right on top of Panoramic Hwy (noise) and you can watch the robberies, fights, drug deals being made across the street by the teenagers hanging out at the 7-11. And for all that "goodness" you have to pay an exorbitant amount of money.
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