There are significant differences between these two houses in size, location, and other factors.
You should get some assistance with your comps. - Sat May 10 2008, 17:48
Graham is right. You should rent near Palo Alto for at least a year while you check out the various communities and the commutes. If you buy in an area you don't know well with a LONG commute, you could be forced to sell in a difficult market and pay another set of commissions to boot, when you find out you don't like the community and can't handle the commute.
Use your 2-year window to your advantage and let the difficult market play out while you are looking. You can use your savings from renting to save up a larger down payment. - Sat Feb 2 2008, 10:31
You should rent in the Palo Alto area until have some time to check this out. After you live in the Palo Alto area for a while, you may find that living in Discovery Bay is less appealing. You have 2 years to make a decision where to buy. In the meantime, you will find some rental housing options that would be less than your mortgage payment and the resale market will be soft this year. Don't feel pressured to buy in a remote location quickly. - Fri Feb 1 2008, 23:29
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