That House Costs HOW Much?

October 13, 2008 · Jean Joh

During my mall shifts at Serramonte & Tanforan Shopping Centers, I often interact with people who are just stopping by out of curiosity as to how much home prices are. The ones who own homes in this area are usually a little concerned about the value of their own homes. The ones who are renting in the area are curious to know if the prices are “at bottom” yet and if they should finally start thinking about buying a home. But it’s interesting to note the response of those who are visiting from out of town or even from another country. Their response goes something like this, “That house costs HOW much?”

Their questions usually stem from surprise at how high the prices are as compared to what they are used to seeing back home. To be sure, half a million here will not purchase the kinds of mansion-like homes one might see on HGTV. So in response, I tell them about how the prices in our area have gone down somewhat but that since the supply is limited in the SF Peninsula (no extra land), there is always a demand for homes here which will help keep prices from going too low. More than anything, however, this reminds me once again that I live in one of the most beautiful places on earth (objectively speaking, of course).

In the city of Millbrae where I live, we have the benefit of having a large city within 10-15 minutes driving distance (depending on traffic) combined with a cozy small-town feel and plenty of tree-lined streets. Driving south on 280 from San Bruno, I sometimes feel like I’m on a road trip on vacation instead of just going home. Several times a week, I look up and around me and marvel at the different shades of blue and green. I lived in Beijing for four years, and while I loved it there and hope to return someday, it gave me a sense of appreciation for the wealth of natural colors that I see each day here in the Bay Area.

So okay, we don’t get to experience four seasons here, and yes, there is the ever-looming threat of “the big one.” But I’m grateful to be living here and to be practicing real estate where I can genuinely tell people that this is a great place in which to live. And judging from the fact that people are still willing to pay a little more money for a little less house, I know I’m not the only one who feels this way.

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