I just saw an ad for a “cute bungalow” near Pleasure Point (Capitola). I was amazed at the absurd price, $999,000 for 580 square feet. That’s the smallest thing I think a couple of people can inhabit without killing each other. The property tax will be $10,000+/year. The realtor probably calls it “an investment, potential vacation rental, etc.” A proud Tesla owner will likely buy it.
Santa Cruz is one of the ratlines of choice for the peninsula and SF urban COVID refugees. I suppose a well compensated bit wrangler could fit a bank of computers and a nice freezer full of hot pockets into 580 sq. ft. I know one bit wrangler who has always worked from home, has a place around Capitola and I see him out on the waves. He lolls around out there, and is totally non aggressive surfer. He also seems to be more than a bit on the spectrum, which means he fits the silicon valley mold.
The point is, Santa Cruz will at least temporarily have inflated real estate prices above the usual usual.
I was amazed at the absurd price, $999,000 for 580 square feet.
That’s the smallest thing I think a couple of people can inhabit without killing each other.
The property tax will be $10,000+/year.
The realtor probably calls it “an investment, potential vacation rental, etc.”
A proud Tesla owner will likely buy it.