How is the market doing these days?

.. The million dollar question...
The answer locally is very specific to the town, and within a town very specific to the area, and the price range. There is no immediate “cover-it-all” qualification. One thing for sure: the good schools are at an all-high premium.
Only a full-time agent can tell you ahead of the News how the market is faring, by feeling the pulse of the market. One way I “feel” the market is by sharing with my colleagues their open house experience. Right now, it is very positive, in that we see a lot of pre-approved buyers going to open houses in large numbers. The clientele is picky, looking for a bargain, but is there to buy.
Based on that, I do not think the market is going to “crash” like some news articles report. Prices will continue to adjust quickly as they always do in the Valley, but I would not try to “time” the market: what counts is to buy a house you love, at a price you know you can afford comfortably.
Francis C. ROLLAND
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Invest in the Bay Area?

Some of my clients have been interested over the years in placing some money in a modest investment, in the Bay Area. The reasons may vary, but often it is to use the property later for themselves, or for their kids, and to benefit from the good appreciation that we enjoy here - or the good value that it holds over time.

A rule of thumb in the world of real estate is that whereever there is appreciation, the return on investment (ROI) is pretty small, and where the ROI is good, appreciation is much less.

In the Bay Area, I have often counselled my clients to look into areas moderately priced, but with excellent schools. I submit as examples the following two complexes in Mountain View (which as a City is a good middle ground between the very expensive and the cheapest areas of the Bay):

- The Old Mill Complex;
- the Parc Crossings: http://www.theparccrossings.com/

These links, besides giving a history of prices in the complexes, also give detailed resources as to the schools.
I hope you find this of interest.
Francis

Silicon Valley Real Estate

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