Bay Area RTO - Driving down house prices in extended east bay*

[ramsouthindian]

RTO driving down home prices - Chinna sample from extreme suburbian towns - bay area

Mountain House, Lathrop, Manteca (Tracy county lo vastundi, but most desi's called it east bay LOL)

People who bought in 2021 & 2022 are selling houses for 10% lesser or more now.


https://www.zillow.com/homedetails/163-E-Prusiner-Ln-Mountain-House-CA-95391/300276806_zpid/

https://www.zillow.com/homedetails/231-E-Lawson-Ave-Mountain-House-CA-95391/325545493_zpid/

 

[ramsouthindian]

Source from friend - Asalu commute horrible ga undanta.

Taking 2hrs oneway to South Bay - on a normal day. Average ga spending 4 hours daily in commute x 3 days/week.

Ippudu thinking about selling the spot and moving back closer to work renting.

[Chittoorodu]

There is still room for downside IMO - These cluster towns are always first to fall in boom bust cycles.

House sold in 2005~2006 took like 10~12 years to get back to the same price.

[pandugadu999]

41 minutes ago, ramsouthindian said:

RTO driving down home prices - Chinna sample from extreme suburbian towns - bay area

Mountain House, Lathrop, Manteca (Tracy county lo vastundi, but most desi's called it east bay LOL)

People who bought in 2021 & 2022 are selling houses for 10% lesser or more now.


https://www.zillow.com/homedetails/163-E-Prusiner-Ln-Mountain-House-CA-95391/300276806_zpid/

https://www.zillow.com/homedetails/231-E-Lawson-Ave-Mountain-House-CA-95391/325545493_zpid/

 

10% less or more ante?

[pandemkodi]

Why  not rent it out

[Spartan]

34 minutes ago, pandemkodi said:

Why  not rent it out

akkada rent ki undetoniki office undada..

99.9999999% of homes are desi there..not tella nalla families.

why will someone rent there , if RTO is being mandated...

rental income bharosa meeda chala mandi multiple homes kuda konnaru...

takkuva la konnodu IP pettochu...kaani many paid 750-900 on average for those homes..

 

look at Fire, and Heat factor...avi severe ga unnai...chala insurance companies e year renew kuda cheyale insurance..

[futureofandhra]

6 minutes ago, Spartan said:

akkada rent ki undetoniki office undada..

99.9999999% of homes are desi there..not tella nalla families.

why will someone rent there , if RTO is being mandated...

rental income bharosa meeda chala mandi multiple homes kuda konnaru...

takkuva la konnodu IP pettochu...kaani many paid 750-900 on average for those homes..

 

look at Fire, and Heat factor...avi severe ga unnai...chala insurance companies e year renew kuda cheyale insurance..

San Jose ki kooda fire threat vundh

[Konebhar6]

26 minutes ago, Spartan said:

akkada rent ki undetoniki office undada..

99.9999999% of homes are desi there..not tella nalla families.

why will someone rent there , if RTO is being mandated...

rental income bharosa meeda chala mandi multiple homes kuda konnaru...

takkuva la konnodu IP pettochu...kaani many paid 750-900 on average for those homes..

 

look at Fire, and Heat factor...avi severe ga unnai...chala insurance companies e year renew kuda cheyale insurance..

Rental prices have gone up a lot since covid. But they are quickly dropping now. A friend bought 2nd home there and finding it difficult to rent. 3200 to 2800 now. Not able to rent. Those who are applying do not have good finances to rent them. Those homes made sense at 500-600K, not 1.2 or 1.3M. They will drop more. Plus Lennar and Pulte building 2000 more new homes. IT will be a good place to buy if prices fall another 30%. 

[Rone123]

Tracy Hills and Tracy lo 1.2-1.3 M konnaru.

 

Ippudu avi 40% padathayi

[ramsouthindian]

1 hour ago, pandugadu999 said:

10% less or more ante?

Minimum 10% less ki sale avtunayi - zestimate fast ga correct avtundi

[pandemkodi]

1 hour ago, Spartan said:

akkada rent ki undetoniki office undada..

99.9999999% of homes are desi there..not tella nalla families.

why will someone rent there , if RTO is being mandated...

rental income bharosa meeda chala mandi multiple homes kuda konnaru...

takkuva la konnodu IP pettochu...kaani many paid 750-900 on average for those homes..

 

look at Fire, and Heat factor...avi severe ga unnai...chala insurance companies e year renew kuda cheyale insurance..

Don’t know much about the area, one of the i guy I know going there every weekend to check out the deals . Saying deals vunnayi and he want to buy . 

[ramsouthindian]

1 hour ago, Konebhar6 said:

Rental prices have gone up a lot since covid. But they are quickly dropping now. A friend bought 2nd home there and finding it difficult to rent. 3200 to 2800 now. Not able to rent. Those who are applying do not have good finances to rent them. Those homes made sense at 500-600K, not 1.2 or 1.3M. They will drop more. Plus Lennar and Pulte building 2000 more new homes. IT will be a good place to buy if prices fall another 30%. 

This is true. Most of these houses being sold for lesser have been in the market for rental for some time too.

[Chittoorodu]

1 hour ago, Rone123 said:

Tracy Hills and Tracy lo 1.2-1.3 M konnaru.

 

Ippudu avi 40% padathayi

Idhemo naaku ardam kaale - Houses in Lathrop & Tracy went upwards of $1 ~ $1.5 Mil as if Yosemite was an hour from there.

They are kind of middle of nowhere with ZERO identity TBH.

[Chittoorodu]

1 hour ago, Spartan said:

akkada rent ki undetoniki office undada..

99.9999999% of homes are desi there..not tella nalla families.

why will someone rent there , if RTO is being mandated...

rental income bharosa meeda chala mandi multiple homes kuda konnaru...

takkuva la konnodu IP pettochu...kaani many paid 750-900 on average for those homes..

 

look at Fire, and Heat factor...avi severe ga unnai...chala insurance companies e year renew kuda cheyale insurance..

Idhey jarigindi mostly - the area is now flooded with rentals. $3k for a 4b/3ba houses LOL

[Chittoorodu]

$2800 ~ 3k - 3b/3ba Rentals
https://www.zillow.com/homedetails/1429-S-Haiku-Loop-Mountain-House-CA-95391/325548087_zpid/

https://www.zillow.com/homedetails/67-E-Nasergholi-Ave-Mountain-House-CA-95391/300277843_zpid/