Re: Cohousing appraisals
From: Marty Roberts (MartyRsonic.net)
Date: Fri, 10 Jan 2003 11:30:12 -0700 (MST)


On Friday, January 10, 2003, at 10:01  AM, Joani wrote:

Now read this and weep.  Two units here at Swan's Market Cohouisng (2br
ea,  900 and 1170 sf respectively) recently sold for $370,000 and
~$440,000. And a 650+ sf studio was appraised recently for $300,000. It's true, San Francisco Bay Area housing prices are off the charts. The father of a friend of mine recently bought a faiirly small one (or maybe it was two) bedroom condo with a bay view in a newish building for $1,000,000! Of
course he sold a house in the suburbs he had bought 8-10 years ago for
$900,000 for $1,600,000. Do these numbers make your head swim? They do mine.


It also says to me that cohousing in the Bay area is only for the rich - or those lucky enough to have gotten into the Bay area market years ago. Of course that is true for ALL housing in the Bay area - not just cohousing. But even here in Sonoma County (hour north of San Francisco), I have seen a few friends that are cohousing wannabes get priced out of even considering it. there's clearly a market for subsidized, affordable cohousing. A nonprofit in our area called Burbank Housing builds affordable housing developments with subsidies, donated land etc. that are quite nice. Seems a cohousing nonprofit could do something similar with coho design in mind? People with "normal" incomes can now qualify for affordable housing help due to this crazy housing market.
Marty Roberts
Two Acre Wood


Marty Roberts Productions
Video and Web Site Production
http://www.martyrobertsproductions.com
(707) 829-9191

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