Why are most small three bedroom ,one bathroom homes in San Mateo CA selling for one million or more?
- curtisports2Lv 72 years agoFavorite Answer
Why are the same houses in blighted cities like Detroit selling for $10,000 or less? The oldest three rules in real estate. Location, location, location. The houses aren't worth the money, it's the land they sit on. If you could physically pick up a house in Detroit that's solid and might just need a little work and physically put it on a piece of land in San Mateo, you would instantly turn a $10k property into a $1 million property.
So, isn't it obvious that the reason is very few people want to live in Detroit, compared to the millions who want to live in San Mateo? Supply and demand.
- loanmasteroneLv 72 years ago
You would have to find a web site that list property for sale in San Mateo. You might consider Zillow, Trulia and realtor. These sites would list the cost of the properties, number of bed and bathrooms s well as square feet of the property. You would find there are also many pictures of the property for sale
I once resided in San Mateo long ago. At that time San Mateo was a very nice community to live. I have not been in this area for a long time. I have no idea of what it is like to reside there now.
The cost of property in any area of the United States would primarily depend on supply and demand. There is a great demand for properties in California. You also to remember the age old saying of location, location and do not forget location.
You also have to realize the cost to reside in California is very expensive. California is one of the highest taxed states in the United States. Jerry Brown just raised the gasoline tax by 12 cent per gallon. You are required to pay 10 cent per bag in order for you to carry the items you purchased at a local retail sore to your car.
I was absolutely surprised and amazed at the checkout line at Walmart when the cashier asked if I wanted bags. I was knocked off my feet when I was informed I would have to pay 10 cent per bag.
The only thing that is inexpensive in California is food. There are so many grocery stores in California, making the competition very competitive. You are not required to pay taxes on the food you purchase in grocery stores.
I am glad I no longer reside in the Golden State.
I hope this has been of some benefit to you, good luck.
- DEBSLv 72 years ago
Supply & Demand.
No supply. Very high demand.
(Oh, and high salaries)
- DustbindivaLv 72 years ago
Thats the going price. Very expensive square footage.
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- 2 years ago
California is generally an expensive state to live in, especially since San Mateo is so close to San Francisco, one of CA's best cities. That's my guess, anyway. Hope this helps.
- SlumlordLv 72 years ago
Because someone is willing to pay that and the sellers won't accept less than that - simple suppy and demand. If you don't like it just move somewhere cheaper.
- choko_canyonLv 72 years ago
Because people are buying them for that much. The buyers determine the pricing by paying outrageous sums for mediocre real estate.
- Anonymous2 years ago
Cuz St. Matthew was flush, Cuz.
- Anonymous2 years ago
U dont like it - dont buy them. Go somewhere u need to shovel snow in winter, there for one mil u may buy a mansion on a lake shore