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Prices here in the SF Bay Area are still incredibly high. It's very difficult to even find a decent condo under half a million.
It's all supply & demand here, though, as our population keeps going up and as they say "they're not making any more land".
I have noticed a few friends moving out to Arizona the last few years where prices are more in line with the OP's example, even if it doesn't come with acreage. I think a friend bought one in the 300-400 range bordering a golf course about a year ago there.
As for the other poster's comments on neighborhood, I wouldn't want to spend alot on any home in a low socio-economic bordered area...I don't care what color it is. Great example are some of the new homes they built in the East Bay. Brand new, large, shiny. Just beyond the block walls of the gated community is the same poor community that's been there for decades, except they some of them are jealous and pissed off at rubbing elbows with the people who have "so much more" than them.
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