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August 1, 2014

$1M won't buy much if you're house shopping in San Francisco

  • It'll barely cover an 800-square-foot starter home that needs work and may or may not have parking.
    • By LISA LEFF
    Associated Press

    SAN FRANCISCO — San Francisco Association of Realtors President Betty Taisch has two words of advice for those who want to live here and think $1 million will buy them their dream house: Think again.

    In the souped-up world of San Francisco real estate, where the median selling price for houses and condominiums last month hit seven figures for the first time, the cool million that would fetch a mansion on a few acres elsewhere will now barely cover the cost of an 800-square foot starter home that needs work and may or may not include private parking.


     
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