Seems to me he paid over market price for the lot, but not excessively. The price per square foot figure is inflated because the house is relatively small. Plenty big for a single tech guy though. He might consider demolishing it and rebuilding when he marries and has kids though.
Here in the DC area that’s called a “scraper”. They buy the lot, scrape the old house off the land and build something new from scratch.
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I stand corrected, with my genuine appreciation for that correction.
I’m sure the guy is delightful, but he’s having an outsized effect on the cost of living in California. Speculative housing prices make labor more expensive. More expensive government workers is just one example that locals will end up paying for. And by locals I mean not him. The California state government isn’t trying to enact Senate Bill 827 because they feel sorry that people can’t afford houses.
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If paying 25% over asking price isn’t excessive then what is?
Paying 25% over market price.
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All oppressed groups have their traitors. Fuck this guy.
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800 sq ft (plus basement) bungalows on our street in Toronto are going for $1m. I thought that was insane, seeing as our bungalow cost 270k 10 years ago (and our current tax value is 500k). I see I will have to recalibrate my definitions of crazy.
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That was for the house, for the lot the percentage wouldn’t be nearly as bad. The number is inflated because the house is particularly small.
Precisely why Manhattan is becoming a cultural and social wasteland, too. Workers have to commute farther and farther from the boroughs while affordable space for artists, musicians and young entrepreneurs gets gobbled up and turned into corporate flagships, ultra high-end boutiques and billionaire playgrounds. Even the inner borough neighborhoods that, as recently as a few years ago, were reliable refuges for old NY’s weird side are disappearing. Maybe the L train shutdown will slow things down, but I think anything great as already been lost.
On the brighter side, every time I visit one of the more “afforable” cities you mention, I am awestruck and inspired by the cool, progressive spirit I see.
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Heres what i always think when i see these crazy house sales - you got that much money to burn? So why sunnyvale of all bland places? SO many nicer homes within 10 miles of there easily. Or rent some badass spot somewhere? Again, maybe buyer really doesnt care about size/look of the house but that is a home for a person of moderate means and should be priced accordingly.
To answer another thread on here, THIS is a big reason why people “hate” tech. Not just because “their platforms are awkward” or “they take my personal info (they all do)” or “they say they care about womens/black/people/human rights (but dont really)”. Its these kind of crazy payouts to be people that may rightfully earn them, but then seem to have no issues with said employees domino effect on scorched earth housing/pricing problems that are happening.
Maybe Apple/Facebook/Twitter/etc could spend some money on a millionaires commuinty and guide them to those overpriced spots instead of letting them throw there money at any old piece of property they eyeball.
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I believe that essentially the only thing one can buy with money that is virtually guaranteed to increase happiness is lower commute time. That’s what this guy bought. 800sqft and a yard in a nice climate? What more does a single man need?
Money laundering?
How much if they have a 6000 sq. ft. lot like the SV home?
“…kind of blown away” said listing Agent Doug Larson.
$2358/sqft. (!!!) Kind of blown away? KIND of blown away??
Makes me cry, having sold my much nicer home in Redwood City 15-odd years ago. If I had kept it I could sell it and retire on the profits now…
For this neck of Toronto, that’s a double sized lot. You don’t find bungalows built on lots that huge around here. You want a nice big lot with a nice 2000 sq foot house, you have to go to the nicer neighbourhood a kilometre or so away from us and you’ll pay minimum 1.5-2m, probably more.
Meta: Oh how wonderful, Discourse’s quoting is broken on IOS Safari. Again. Why the fuck Boing Boing is sticking with this steaming pile of crap commenting system is beyond me.
We bought a 2 bedroom condo in downtown Vancouver 1-1/2 years ago. It’s increased in book value over 20% since then. Total insanity. We couldn’t afford to buy it now, even with the increased equity we would have from our old place. 
Sunnyvale is well known as having the best public schools in the area. And it is near Apple. Many people buy there simply for the kids and the prices have always reflected it. As homes in the Silicon Valley have gotten more and more unattainable the smallest homes now have the most competition and demand because they are all an engineer can afford. Stepping up just 20 percent or so over entry level can get a much better value.
