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