12. The "American Dream" is not $500 K for a 900 square foot "fix-er upper"
I have a friend who's a realtor. It's a challenge, believe me. When I talk to him about the fact that OLD 1000-or-less-square-foot "single family" homes in Silicon Valley sell for half a million (or more), he replies "that's the market."
He regularly sells 1 bedroom condos for $400K and more. He sells homes in neighborhoods that are "on their way back" (translation: The King & Story Road and Capitol-McKee areas of San Jose, gang and drive-by central) for obscene amounts. In Palo Alto (an "old money" town) it is not unusual for a two bedroom CONDO to sell for $750K and up (he just sold one belonging to a mutual acquaintance for that amount).
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