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