Your situation is complicated by the big move from a different country (do you have a home to sell, family, kids, etc.). But here are my thoughts:
* $110K is OK. In California that's not a lot of money. However, don't be fooled by Google base salaries, they are lower than other comparable companies but the bonuses can be out of this world. Typically they could be 30% of you salary but if you can get your hands on an important project, sky's the limit.
* As others have noted, Google is a huge resume booster. This is doubly true in your case, since you're from another country and have a "no-name degree". After this, it would be orders of magnitude easier for you to land a new job in the valley.
* But know that the Google culture can be caustic, esp. if you're older and is not quite used to pulling 11pm workdays regularly. The culture is super alpha-geek with every young hot shot trying to prove him/herself and make their fortune in 2-3 years. Tl;dr: You will work your ass off.
* The initial project is crucial. Although everybody says you can change projects at will, this can only be done after 18 months or so for new hires. I had friends stuck in backwater projects leaving G without waiting that long.
So, summary: If you're planning to relaunch your career in the Valley and maybe eventually go the startup way, this is an excellent opportunity, do it immediately. Go there, quickly get your green card, work for 2 years, and jump either to a better position in G or ideally to another company.
This is easier said than done since Google first has to sponsor your green card application (it's not automatic with an H1B visa) and in my experience the government bureaucracy that handles green cards doesn't know the meaning of the word "quick".
You're right, the application process does have a large variation. However, anecdotal evidence (from my colleagues and me) suggests that if you're not from India or China, you should get it in about 1.5 - 2 years from application.
* $110K is OK. In California that's not a lot of money. However, don't be fooled by Google base salaries, they are lower than other comparable companies but the bonuses can be out of this world. Typically they could be 30% of you salary but if you can get your hands on an important project, sky's the limit.
* As others have noted, Google is a huge resume booster. This is doubly true in your case, since you're from another country and have a "no-name degree". After this, it would be orders of magnitude easier for you to land a new job in the valley.
* But know that the Google culture can be caustic, esp. if you're older and is not quite used to pulling 11pm workdays regularly. The culture is super alpha-geek with every young hot shot trying to prove him/herself and make their fortune in 2-3 years. Tl;dr: You will work your ass off.
* The initial project is crucial. Although everybody says you can change projects at will, this can only be done after 18 months or so for new hires. I had friends stuck in backwater projects leaving G without waiting that long.
So, summary: If you're planning to relaunch your career in the Valley and maybe eventually go the startup way, this is an excellent opportunity, do it immediately. Go there, quickly get your green card, work for 2 years, and jump either to a better position in G or ideally to another company.