Oh we are in a crazy real estate area. as well off as we are, most people here bring in the same kind of money we do.
We live in San Francisco, to give you some idea, these are the places we've lost so far
House 1: listed at 699k, offered 800k, sold for 1.15mil
House 2: listed 699k, offered 900k, sold for 1.2 mil
House 3: condo, listed and offered 650k, didn't get but don't remember what it sold for, prob 700+
House 4: duplex listed at 900k, thought about offering 1.25mil but didn't, sold for 1.34
House 5: listed at 900k, offered 900k, countered 1.025 mil, we didn't take, sold for 1.035 mil. I'm still regretting that one but my husband thought it was overpriced.
There's no reason to buy now, just seems like it should be the next step in our investment strategy- it's a bit of a frenzy out there right now, people with their Facebook stock and developers offering all cash for houses. I do want more room, but we also live walking distance to a dozen parks, playgrounds and museums, so it's really just sleeping rooms I'd like a little more of.
There's nothing at 200k range, unless its in a high crime area or below market rate units reserved for lower income people.
Our rent is 2250 a month (2500-250 by renting out our parking space).