| This has been a very hot topic amongst the | | | | Francisco and many others. If we take these |
| nation's top economists, professors and | | | | elements into consideration and add the fact |
| citizens. With many billions of dollars | | | | that there is very little land to build, it |
| sitting on the sidelines watching the game, | | | | would seem that there is and will be a |
| the magic question seems to be when is the | | | | definite demand for housing now and in the |
| market going to bottom out? It seems that | | | | future. So again we visit the question when |
| many are waiting to get the deal of a century | | | | is the best time to buy? |
| rather than recognizing the incredible | | | | |
| opportunities that are here now. | | | | In my opinion, with the huge selection of |
| | | | inventory and interest rates as low as they |
| The sad truth is that when there is a hot | | | | are, the best time to buy is now. Many make |
| market of any kind for potential huge | | | | the mistake of wanting to wait until the |
| returns, there is also the byproduct of greed | | | | absolute bottom hits so they don't lose any |
| that comes with it. The average person is | | | | money. If a property that sold a year ago is |
| heavily influenced by the media forgetting | | | | being offered for twenty percent less today, |
| that their job is to sell the news. They are | | | | is that a good deal? Of course it is. We need |
| after ratings and not necessarily going to | | | | to keep in mind that in a short time the |
| report the complete small details that are | | | | market is destined to rebound and the |
| prevalent. The bay area is a magical place | | | | majority of us will only see the bottom of |
| unlike any other. It is home to a very wide | | | | the market in the rear view mirror. A deal is |
| array of things to do and home to some of the | | | | a deal and if the price is right and one is |
| best weather in the world. | | | | ready to buy, do it. |
| | | | |
| I have clients tell me all the time that the | | | | The truth is that in many areas of the San |
| best time to buy bay area real estate is not | | | | Francisco region, the prices are not going |
| now. The market is going to go down further | | | | down they're going up. According to the |
| and it will then be the best time. The truth | | | | latest numbers from Data Quick, The average |
| is that no one has a crystal ball and no one | | | | median household value across nine bay area |
| can predict for sure when the market will | | | | counties is four percent higher than it was a |
| completely bottom out. It is however; a good | | | | year ago. The closer you get to the heart of |
| idea to keep in minds the simple rules of | | | | metropolis, the more the demand for that |
| supply and demand. This of course is going to | | | | location. San Francisco, Marin and the |
| be somewhat contingent on what type of | | | | peninsula have all gone up in value from this |
| property is sought after. With the extremely | | | | time last year. Alameda County is also us |
| high cost of property here, it is difficult, | | | | four percent from last year. |
| although not impossible, to find income | | | | |
| properties that will cash flow without a | | | | The bottom line is the bay area is a great |
| substantial down payment. The bay area is an | | | | place to live, work and play. There is a |
| industry leader for high tech, biotech, | | | | reason that it is expensive to live here. It |
| finance, money markets, trading floors, | | | | is desirable! There are incredible deals for |
| engineering and many other skilled | | | | bay area property right now and who knows |
| professions. We also need to keep in mind | | | | exactly how long it will last. Advise for |
| that the bay area is home to some of the | | | | people who are serious and actively in the |
| finest universities in the world including | | | | market, find your property while the good |
| Stanford, The University of California at | | | | deals are still here and be happy with what |
| Berkeley, The University of California at San | | | | you've found. |